2017-11-15T10:00:16-06:00 2016-12-31 420714325 RSM US LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2016-01-01 741162836 SHARED RESOURCES CREDIT UNION SHAR 7134739244 2102 EAST PASADENA FREEWAY PASADENA TX 77506 STEPHANIE SALAZAR PRESIDENT/CEO 7134739244 2017-11-13 1 GERALD B KISSELL P00092658 6123324300 108.171.131.187 2017-11-13 08:26:29 CS P 953010FE7B7688CAE4F675E199EC7561F371B919 5AB5DFEC54AF030231DDAA57F2AFD57D98013E0B 2016 2021-01-29 14:40:06Z STEPHANIE SALAZAR 2102 EAST PASADENA FREEWAY PASADENA TX 77506 1764271 0 X WWW.SRCU.NET X 1949 TX SHARED RESOURCES CREDIT UNION IS COMMITTED TO SERVING THE NEEDS OF OUR MEMBERS BY PROVIDING QUALITY SERVICE IN A CONSCIENTIUOS MANNER THAT WILL DEVELOP NEW BUSINESS AND ENHANCE EXISTING RELATIONSHIPS. 9 9 12 9 24596 -14730 5469 2951 1505331 1590185 35629 68371 0 102764 1546429 1764271 0 0 110197 118919 470146 561182 0 0 0 879135 987246 1459478 1667347 86951 96924 26032241 26682186 23263729 23816750 2768512 2865436 SHARED RESOURCES CREDIT UNION IS COMMITTED TO SERVING THE NEEDS OF OUR MEMBERS BY PROVIDING QUALITY SERVICE IN A CONSCIENTIUOS MANNER THAT WILL DEVELOP NEW BUSINESS AND ENHANCE EXISTING RELATIONSHIPS. 0 0 SHARE ACCOUNTS - SHARED RESOURCES CREDIT UNION SHARE ACCOUNTS OFFER ADVANTAGES TO MEMBERS OF ALL AGES. THE CREDIT UNION HAD MORE THAN 3,044 MEMBER-OWNED ACCOUNTS ON DECEMBER 31, 2016. MEMBER SAVINGS ACCOUNTS PAY DIVIDENDS QUARTERLY AND OFFER ACCESS THROUGH THE BRANCH NETWORK, HOME BANKING VIA THE INTERNET OR TELEPHONE AND ATMS. SPECIAL SAVINGS ACCOUNTS DEVELOPED FOR CHILDREN ENCOURAGE THE DEVELOPMENT OF CONSISTENT SAVINGS HABITS. CHECKING ACCOUNTS - SHARED RESOURCES CREDIT UNION PROVIDES CHECKING ACCOUNTS FOR CONSUMERS WITH VARIOUS FEATURES, WHICH INCLUDE RECEIVING DIVIDENDS ON A MONTHLY BASIS. ADDITIONALLY, THE CREDIT UNION EXTENDS THE REACH OF THESE ACCOUNTS TO ALL MEMBERS WITH FREE DEBIT CARDS, INTERNET ACCOUNT ACCESS AND FREE USE OF THE INTERNET BILL PAY PROGRAM. CONSUMER LOANS - SHARED RESOURCES CREDIT UNION HAS PROVIDED PERSONAL LOANS SINCE ITS EARLY YEARS. THE CONSUMER LOAN PRODUCT LINE NOW INCLUDES EFFICIENT UNDERWRITING AND FLEXIBLE OFFERINGS FOR VEHICLES, RECREATIONAL VEHICLES, BOATS, MOTORCYCLES AND HOME EQUITY LOANS. CONSUMER LIFE AND DISABILITY INSURANCE IS AVAILABLE ON ANY OF THESE LOAN TYPES. 12/31/2016 YEAR END LOAN TOTALS $20,272,508 A TOTAL OF 1,435 LOANS. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 563 0 1 12 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X STEPHANIE SALAZAR 7134739244 2102 EAST PASADENA FREEWAY PASADENA TX 77506 JOE HOLZWORTH CHAIR 1.00 X X 0 0 0 KENNETH BRADFORD VICE CHAIR 1.00 X X 0 0 0 SCOTT BUCHANAN TREASURER 1.00 X X 0 0 0 KATHERINE L DEAN SECRETARY 1.00 X X 0 0 0 TERRY MULLINS DIRECTOR 1.00 X 0 0 0 JENNIFER SCHLEBACH DIRECTOR 1.00 X 0 0 0 CLYDE COXIE JR DIRECTOR 1.00 X 0 0 0 HOWARD ROTHMAN DIRECTOR 1.00 X 0 0 0 JD JOHNSON DIRECTOR 1.00 X 0 0 0 STEPHANIE SALAZAR CEO 40.00 X 85432 0 26042 85432 0 26042 0 0 0 0 FISERV 2601 NETWORK BLVD FRISCO TX 75034 DATA PROCESSING 334329 1 2951 2951 LOAN INCOME 522100 1156584 1156584 FEES AND CHARGES 522100 433601 409005 24596 1590185 68371 68371 MISCELLANEIOUS INCOME 900099 102764 102764 102764 1764271 1668353 24596 68371 X 118919 111475 313817 41988 51302 42600 11800 246378 337592 35471 9974 18850 721 56234 30819 PROVISION FOR LOAN LOSS 151479 EMPLOYEE EDUCATION 31705 LOAN SERVICING 21772 DUES 13776 20675 1667347 355982 1454284 14590 3947 20140501 20162670 27417 32881 1192071 772751 385805 419320 4254000 3708000 853946 901084 26032241 26682186 369822 414731 13311 21884 22880596 23380135 23263729 23816750 X 0 0 0 0 2768512 2865436 2768512 2865436 26032241 26682186 96924 0 X 1 X 0 0 0 0 1 X 44721 44721 387298 261027 126271 269619 158719 110900 490433 353005 137428 419320 JUMBO CERTIFICATES 3708000 C 3708000 MEMBER SHARES 23380135 23380135 PART IV, LINE 2B: THE CREDIT UNION HOLDS FUNDS IN ESCROW TO PAY TAXES AND INSURANCE ON BEHALF OF ITS MORTGAGE LOAN MEMBERS. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. 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 THE FINAL DRAFT OF THE FORM 990 WAS SUBMITTED TO THE BOARD FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST POLICY STATEMENT IS DISTRIBUTED ANNUALLY TO ALL BOARD AND STAFF WHEREAS THEY MUST LIST ALL OUTSIDE BUSINESS ACTIVITY. THE STATEMENT MUST BE SIGNED AND DATED BY EACH INDIVIDUAL AFFIRMING THE INFORMATION. EACH STATEMENT IS THEN REVIEWED TO CONFIRM THERE IS NO CONFLICT OF INTEREST WITH THE CREDIT UNION. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE USES CCUL COMPENSATION SURVEY TO DETERMINE SALARIES FOR KEY EMPLOYEES. THE PROCESS FOR MY COMPENSATION - EACH OCTOBER DURING THE NORMAL BOARD MEETING THE BOARD DECIDES IF THERE WILL BE A SALARY INCREASE. THE CORNERSTONE CREDIT UNION LEAGUE OFFERS A SALARY SURVEY TO EACH CREDIT UNION. IT HAS SEVERAL FACTORS: TIME ON JOB, EDUCATION BACKGROUND, SIZE OF CREDIT UNION AND NUMBER OF FULL TIME EMPLOYEES. THE BOARD USES THIS AS A GUIDELINE ALONG WITH OUR CREDIT UNION FINANCIAL GOALS THAT ARE MET AND THEY DETERMINE A PERCENTAGE FOR THE INCREASE. THEY VOTE APPROVE OR DENY AND IT IS RECORDED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FINANCIAL STATEMENTS ARE ALSO AVAILABLE ON THE CREDIT UNION'S WEBSITE (WWW.SRCU.NET). FORM 990, PART IX, LINE 11G BANK SERVICES CHARGES 8,235. OTHER 238,143.