2017-11-09T12:41:57-06:00 2016-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2016-01-01 340153020 THE OHIO EDUCATIONAL CREDIT UNION INC OHIO 2166216296 4141 ROCKSIDE RD SUITE 400 SEVEN HILLS OH 44131 ARTHUR BOEHM CFO 2166216296 2017-11-08 1 JOSEPH A ZITO CPA P00648440 2482443000 50.235.194.18 2017-11-08 16:32:35 ES P 062293E64DF58CF8D35332F263D6456F83B37FCF 062293E64DF58CF8D35332F263D6456F83B37FCF 2016 2021-01-29 14:40:06Z JEROME VALCO 4141 ROCKSIDE RD SUITE 400 SEVEN HILLS OH 44131 7126738 0 1990 X WWW.OHECU.COM X 1933 OH THE OHIO EDUCATIONAL CREDIT UNION IS A FULL-SERVICE FINANCIAL INSTITUTION. OUR GOAL IS TO RECOGNIZE AND UNDERSTAND THE UNIQUE NEEDS OF OUR INDIVIDUAL MEMBERS AND TO FULFILL THOSE NEEDS THROUGH A VARIETY OF DIVERSIFIED PRODUCTS AND SERVICES. 10 10 53 10 79473 -6915 0 0 6687714 6823747 223356 195781 81450 79473 6992520 7099001 0 0 0 0 2679272 2795541 0 0 0 4290967 4199232 6970239 6994773 22281 104228 125334595 127961004 116015883 118534457 9318712 9426547 BUILDING OUR MEMBER'S FINANCIAL FUTURE THROUGH A FULL RANGE OF SUPERIOR FINANCIAL SERVICES, EDUCATION, AND EXCEPTIONAL VALUE. 0 0 THE CREDIT UNION PROVIDES ITS MEMBERS WITH CONSUMER LOAN PRODUCTS WHICH INCLUDE VEHICLE, SIGNATURE, CREDIT CARD, AND PRIVATE STUDENT LOANS, IN ADDITION TO INDIRECT VEHICLE LEASES. THE CREDIT UNION ALSO OFFERS REAL ESTATE LOANS TO ITS MEMBERS, INCLUDING FIRST MORTGAGE AND HOME EQUITY LINES OF CREDIT. THE CREDIT UNION PROVIDES MEMBERS WITH TRANSACTION SHARE ACCOUNT SERVICES, WHICH INCLUDES SHARE DRAFT CHECKING, SHARE SAVINGS AND MONEY MARKET SHARE ACCOUNTS. TRANSACTION SHARE ACCOUNT PRODUCTS ENABLE MEMBERS TO CONDUCT THEIR DAY TO DAY FINANCIAL NEEDS WITH CONVENIENT SERVICES OF CASH, DIRECT DEPOSIT, CHECKS, ATM'S, DEBIT CARDS, ACH, AUDIO RESPONSE, MOBILE AND ONLINE BANKING AND BILL PAYMENT. THE CREDIT UNION PROVIDES TERM SAVINGS PRODUCTS TO ITS MEMBERS, WHICH INCLUDES IRA AND SHARE CERTIFICATES. CERTIFICATE TERMS RANGE FROM THREE MONTHS TO FIVE YEARS. 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1773 0 1 53 1 1 1 0 0 0 0 0 X 10 10 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X ARTHUR BOEHM 2166216296 4141 ROCKSIDE RD SUITE 400 SEVEN HILLS OH 44131 RICHARD M GORE DIRECTOR 3.00 X 0 0 0 JACKSON M BOYD BOARD VICE PRESIDENT 5.00 X 0 0 0 TONY H SMITH SR BOARD PRESIDENT 10.00 X 0 0 0 CAROL CREEL DIRECTOR 3.00 X 0 0 0 MARIO DANESE BOARD TREASURER 5.00 X 0 0 0 MARK BATES DIRECTOR 3.00 X 0 0 0 MYCHAEL HENDERSON BOARD SECRETARY 5.00 X 0 0 0 MELODY PATTERSON DIRECTOR 3.00 X 0 0 0 PATRICK J POLEN DIRECTOR 3.00 X 0 0 0 ROBERT W DOLAN DIRECTOR 3.00 X 0 0 0 JEROME R VALCO CEO 40.00 X 142552 0 21905 ROBERT C BECKER COO 40.00 X 115081 0 15190 ARTHUR D BOEHM CFO 40.00 X 119450 0 8728 ANTHONY TOY CHIEF RETAIL SERVICES OFFI 40.00 X 110291 0 1895 487374 0 47718 4 0 1 0 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT & DEBIT CARD PROCESSING 604608 DIGITAL INSIGHT 1300 SEAPORT BLVD SUITE 300 REDWOOD CITY CA 94063 ONLINE/MOBILE BANKING PROVIDER 303576 FISERV INC PO BOX 300016 ATLANTA GA 303745148 CORE COMPUTER PROCESSOR PROVIDER 245318 SABRE PUBLISHING GROUP INC 398 W BAGLEY ROAD BEREA OH 44017 MARKETING AGENCY 174516 BRIDGESTONE AMERICAS INC 23715 NETWORK PLACE CHICAGO IL 606731657 MEMBER STATEMENT MAIL HOUSE PROCESSOR 103407 5 LOAN INTEREST 522100 3583514 3583514 FEE INCOME 522100 3240233 3240233 6823747 204128 204128 19390 27737 -8347 -8347 -8347 INSURANCE INCOME 524298 46521 46521 NON-MEMBER ATM FEES 525990 32952 32952 79473 7099001 6823747 79473 195781 535092 1697992 19619 361292 181546 28298 67600 177162 349119 374501 23832 28014 94380 38592 294152 78446 DATA PROCESSING 1615906 PROVISION FOR LOAN LOSS 366921 LOAN SERVICING 293823 MAINTENANCE 166214 202272 6994773 2595603 2413923 8430740 6847483 415352 453466 84657246 87131888 669090 741160 6585272 3844563 2845966 2740709 8858534 5446803 3968960 3968960 12893104 18216612 125334595 127961004 625826 764460 115390057 117769997 116015883 118534457 X 3699194 3699194 0 0 5619518 5727353 9318712 9426547 125334595 127961004 104228 3607 0 X X 0 1 X 1 0 294508 294508 3710436 1694977 2015459 308040 299886 8154 2272288 1849700 422588 2740709 SHARE INSURANCE 1500071 REAL ESTATE 19390 OTHER ASSETS 222005 CUSO 195363 RESIDUAL INTEREST IN INDIRECT LEASES 16269728 REPO AUTOS 10055 18216612 MEMBER SHARE ACCOUNTS 117769997 117769997 X 7103098 0 7103098 -4097 -4097 7099001 6998870 4097 4097 6994773 0 6994773 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE "IRC" SECTION 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES, ACCORDINGLY NO INCOME TAX EXPENSE IS REFLECTED IN THE STATEMENTS OF EARNINGS FOR THE CREDIT UNION. PART XI, LINE 4B - OTHER ADJUSTMENTS: GAINS/LOSSES ON SALE AND DISPOSITION OF ASSETS -4,097. PART XII, LINE 2D - OTHER ADJUSTMENTS: GAINS/LOSSES ON SALE AND DISPOSITION OF ASSETS 4,097. X 1 1 X X X 0 0 0 JEROME R VALCO CEO 129965 0 0 0 12587 0 1375 0 20530 0 164457 0 0 0 PART I, LINE 1A PER CU POLICY, COMPANION TRAVEL EXPENSES WERE PAID BY THE CREDIT UNION WHILE THE BOARD PRESIDENT OR DESIGNATED BOARD MEMBER ATTENDED THE CUNA GOVERNMENTAL AFFAIRS CONFERENCE IN WASHINGTON D.C. FORM 990, PART VI, SECTION A, LINE 2 DIRECTOR MYCHAEL HENDERSON IS A DIRECT SUPERVISOR OF DIRECTOR MELODY PATTERSON AT THEIR EMPLOYER CLEVELAND METROPOLITAN SCHOOL DISTRICT. FORM 990, PART VI, SECTION A, LINE 6 ANY INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS CONSIDERED A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER IS GIVEN ONE VOTE TO ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO THE ARTICLES AND/OR BYLAWS OF THE CREDIT UNION REQUIRE APPROVAL OF THE MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF FORM 990 WILL BE PROVIDED TO THE BOARD OF DIRECTORS (GOVERNING BODY) PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE VIA THE CREDIT UNION'S ELECTRONIC BOARDROOM SITE. THE CFO REVIEWS FOR ACCURACY THE DRAFT FORM 990 AS PREPARED BY THE CPA FIRM. UPON APPROVAL BY THE CFO, FORM 990 IS SUBMITTED TO THE BOARD OF DIRECTORS (GOVERNING BODY) FOR ITS APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL CONFLICT OF INTEREST QUESTIONNAIRES ARE COMPLETED BY DIRECTORS AND KEY OFFICERS OF THE ORGANIZATION TO IDENTIFY ANY POSSIBLE CONFLICTS OF INTEREST. AT THE BEGINNING OF EACH MONTHLY BOARD OF DIRECTOR MEETING, DIRECTORS ARE REQUESTED TO DISCLOSE ANY CONFLICTS OF INTEREST WITH THE AGENDA ITEMS FOR THAT RESPECTIVE BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 15 INDEPENDENT COMPENSATION SURVEY DATA IS OBTAINED FOR EACH POSITION. BOARD PERSONNEL COMMITTEE USES THIS INFORMATION IN CONJUNCTION WITH JOB PERFORMANCE RATINGS TO DETERMINE THE COMPENSATION FOR THE CEO. THE CEO PROVIDES INPUT FOR COO, CFO AND CRSO COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC. FORM 990; PART XII, LINE 2C: WE HAVE A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. OUR PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.