2017-10-26T08:48:50-05:00 2016-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2016-01-01 586032554 LGE COMMUNITY CREDIT UNION LGEC 7704240060 430 COMMERCE PARK DRIVE MARIETTA GA 30060 CHRIS LEGGETT CEO 7704240060 2017-10-26 1 DOUGLAS J ORTH P01076394 3052328272 2016 2022-09-23 18:48:47Z CHRIS LEGGETT 430 COMMERCE PARK DRIVE MARIETTA GA 30060 63349823 0 3804 X WWW.LGECCU.ORG X 1951 GA PROVIDE SAVINGS AND LENDING ACTIVITIES TO MEMBER OWNERS OF THE COOPERATIVE. 9 9 260 16 23094 -153360 0 0 44762156 48297346 1820636 1948337 0 263277 46582792 50508960 0 0 0 0 16186460 17515266 0 0 0 20219911 23929017 36406371 41444283 10176421 9064677 1052647320 1165952145 929976296 1034480410 122671024 131471735 PROVIDE SAVINGS AND LENDING ACTIVITIES TO MEMBER OWNERS OF THE COOPERATIVE. 0 0 INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 1 0 0 1 27584 0 1 260 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 X SEAN D FERRELL 7704212576 430 COMMERCE PARK DRIVE MARIETTA GA 30060 MICHAEL L BROCK V. CHAIRPERSON 1.00 X 0 0 0 RICHARD A DIXON CHAIRPERSON 1.00 X 0 0 0 EVANS M HARRELL BOD MEMBER 1.00 X 0 0 0 ABRAHAM W KASSIS BOD MEMBER 1.00 X 0 0 0 FRANK S MYERS BOD TREASURER 1.00 X 0 0 0 SANDRA L WALLS BOD MEMBER 1.00 X 0 0 0 JAN G AUSTIN BOD SECRETARY 1.00 X 0 0 0 MONTE F CAGLE BOD MEMBER/SC CHAIRPERSON 1.00 X 0 0 0 MICHAEL L SANSEVIRO BOD MEMBER 1.00 X 0 0 0 PAMELLA D THOMAS BOD MEMBER 1.00 X 0 0 0 ELDEN J BONNETTE SC MEMBER 1.00 X 0 0 0 MARCIA E FARBER SC MEMBER 1.00 X 0 0 0 CHERYL BRAUND SC MEMBER 1.00 X 0 0 0 CURT EARNEST SC MEMBER 1.00 X 0 0 0 DENISE O'CONNELL SC MEMBER 1.00 X 0 0 0 CHRIS LEGGETT CEO 40.00 X 423915 0 47594 CANDY BRACEWELL CFO 40.00 X 435780 0 30004 LAURA KING COO 40.00 X 245265 0 45891 STEVE STANFIELD CRO 40.00 X 184153 0 35911 SUSAN TILLERY CLO 40.00 X 188282 0 26426 JUDY KINNEY SVP BRANCH SERVICES 40.00 X 164607 0 34826 JANET C WAGNER SVP HUMAN RESOURCES 40.00 X 159835 0 38101 RODNEY GRIZZLE VP BUSINESS SERVICES 40.00 X 155532 0 31973 MEHRJI FARSINEJAD VP INFORMATION TECHNOLO 40.00 X 135142 0 27760 SEAN FERRELL VP FINANCE 40.00 X 135759 0 33780 2228270 0 352266 15 0 1 0 VISA USA INC 900 METRO CENTER BLVD FOSTER CITY CA 94404 CREDIT CARD PROCESSING 1129040 CONSULTANTS & BUILDERS INC 3100 MEDLOCK BRIDGE RD SUITE 420 NORCROSS GA 30071 CONSTRUCTION SERVICES 878907 PSCU FINANCIAL SERVICES 560 CARILLON PARKWAY ST PETERSBURG FL 33716 BILL PAY 502313 JACK HENRY & ASSOCIATES PO BOX 609 MONETT MO 65708 OPERATING SYSTEM PROVIDER 440733 CASH TRANSACTIONS 3286 HUMPHRIES HILL ROAD AUSTELL GA 30106 CREDIT CARD SERVICES 408953 36 INCOME FROM LOANS 522100 32819039 32819039 FEE/OTHER INCOME 522100 15455213 15455213 UNRELATED BUSINESS INCOME 900099 23094 23094 48297346 1969748 1969748 12819452 12840863 -21411 -21411 -21411 GAIN ON OTHER ASSETS 522100 263277 263277 263277 50508960 50485866 23094 0 1663221 10847048 1265197 2809229 930571 201556 232138 971673 1504252 7727654 1562046 351842 4512116 143257 1676025 165217 PROVISION FOR LOAN LOSS 2542363 LOAN SERVICING 2332754 MISCELLANEOUS EXPENSE 6124 41444283 4968126 7272938 19991091 24715354 4127222 1272369 3757476 5685302 824688837 931214085 694037 938472 42039850 29243787 10912085 12796063 133174498 133200281 9590199 8775314 40743749 40081967 1052647320 1165952145 5250663 9299355 50000000 50000000 874725633 975181055 929976296 1034480410 X 0 0 0 0 122671024 131471735 122671024 131471735 1052647320 1165952145 X 9064677 -285378 21412 X X 0 1 X 1 0 3353845 3353845 21311611 14138372 7173239 2068330 1324124 744206 15306064 13781291 1524773 12796063 REGULAR SHARES 353488343 MONEY MARKET 204558387 CERTIFICATES & IRA SHARES 125642783 SHARE DRAFTS 272306651 IRAS 18635752 HEALTH SAVINGS 549139 975181055 X 50530371 0 50530371 -21412 -21412 50508959 41465694 21412 21412 41444282 0 41444282 PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY ON EXAMINATION BY TAX AUTHORITIES. AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015, MANAGEMENT HAS DETERMINED THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. PART XI, LINE 4B - OTHER ADJUSTMENTS: ADJUSTMENT FOR LOSS ON SALES REPORTED IN STATEMENT OF REVENUE PART XII, LINE 2D - OTHER ADJUSTMENTS: ADJUSTMENT FOR LOSS ON SALES REPORTED IN STATEMENT OF REVENUE X X X 0 1 0 CHRIS LEGGETT CEO 379290 0 44625 0 0 0 28381 0 19213 0 471509 0 0 0 CANDY BRACEWELL CFO 426797 0 8983 0 0 0 22165 0 7839 0 465784 0 0 0 LAURA KING COO 216677 0 28588 0 0 0 27851 0 18040 0 291156 0 0 0 STEVE STANFIELD CRO 161536 0 22617 0 0 0 21614 0 14297 0 220064 0 0 0 SUSAN TILLERY CLO 166078 0 22204 0 0 0 17388 0 9038 0 214708 0 0 0 JUDY KINNEY SVP BRANCH SERVICES 149555 0 15052 0 0 0 20863 0 13963 0 199433 0 0 0 JANET C WAGNER SVP HUMAN RESOURCES 140080 0 19755 0 0 0 20122 0 17979 0 197936 0 0 0 RODNEY GRIZZLE VP BUSINESS SERVICES 141641 0 13891 0 0 0 13997 0 17976 0 187505 0 0 0 MEHRJI FARSINEJAD VP INFORMATION TECHNOLO 125141 0 10001 0 0 0 14143 0 13617 0 162902 0 0 0 SEAN FERRELL VP FINANCE 121440 0 14319 0 0 0 14899 0 18881 0 169539 0 0 0 PART I, LINE 4B THE ORGANIZATION DEPOSITED FUNDS INTO A LIFE INSURANCE POLICY ON THE LIVES OF CHRIS LEGGETT, LAURA KING AND CAROL WAGNER. DURING LIFE, AND SUBJECT TO THE POLICY GENERATING SUFFICIENT VALUES, THE PARTICIPANTS CAN BORROW FROM THE POLICY. AT DEATH, THE ORGANIZATION RECOVERS ITS PREMIUMS PLUS INTEREST PLUS ADDITIONAL KEY-PERSON INSURANCE PROCEEDS. THE CEO, CHRIS LEGGETT HAS A 457(F) DEFERRED COMPENSATION ARRAGEMENT. THE BENEFIT PAYABLE AS OF DECEMBER 31, 2016 APPROXIMATED $219,000. CHRIS LEGGETT CEO TO FUND SPLIT DOLLAR LIFE INSURANCE PLAN X 3750000 3757476 0 1 1 CAROL WAGNER VP, HR AND EMPLOYEE DEVELOPMENT TO FUND SPLIT DOLLAR LIFE INSURANCE PLAN X 1000000 963913 0 1 1 LAURA KING COO TO FUND SPLIT DOLLAR LIFE INSURANCE PLAN X 1000000 963913 0 1 1 5685302 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B LGECCU ENGAGED A PAID PREPARER, DOEREN MAYHEW, TO COMPLETE OUR FORM 990 FILING. UPON COMPLETION OF THE RETURN, IT WAS REVIEWED AND APPROVED BY EXECUTIVE MANAGEMENT. FORM 990, PART VI, SECTION B, LINE 12C LGECCU MAINTAINS A CONFLICT OF INTEREST POLICY WITHIN ITS CODE OF ETHICS. THIS POLICY IS ENFORCED AT ALL TIMES AND REVIEWED PERIODICALLY BY OUR INTERNAL AUDIT DEPARTMENT. FORM 990, PART VI, SECTION B, LINE 15 LGECCU USES SURVEY DATA DURING AN ANNUAL REVIEW PROCESS TO DETERMINE THE REASONABLENESS OF ALL COMPENSATION AND BENEFITS. THE REVIEW OF THE CEO'S COMPENSATION IS A FUNCTION OF THE BOARD OF DIRECTORS. ANNUALLY, THE BOARD USES AN EXECUTIVE COMPENSATION SURVEY FROM AN INDEPENDENT THIRD PARTY TO DETERMINE THE CEO'S COMPENSATION. FOR ALL OTHER POSITIONS IN THE ORGANIZATION, PAY RANGES ARE REVIEWED AND APPROVED ON AN ANNUAL BASIS BY THE BOARD OF DIRECTORS UTILIZING DATA FROM AN INDEPENDENT COMPENSATION STUDY. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON NCUA.GOV VIA THE QUARTERLY 5300 FILING. FORM 990, PART XI, LINE 9: RECLASSIFICATION ADJUSTMENT FOR NET LOSSES INCLUDED IN NET INCOME 21,412. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. LGE INSURANCE SERVICES LLC 430 COMMERCE PARK DR MARIETTA GA 30060 272540699 INSURANCE SALES GA 552991 703934 LGE COMMUNITY CREDIT UNION