2016-08-05T11:22:20-07:00 2015-12-31 990 2015-01-01 720498240 Pelican State Credit Union PELI 2254086100 3232 South Sherwood Forest Blvd Baton Rouge LA 70816 Annette Thames Sr. Vice President 2254086114 2016-07-12 2015 2016-12-15 16:53:06Z Jeffrey K Conrad 3232 S Sherwood Forest Blvd Baton Rouge LA 70816 28508723 0 X www.pelicanstatecu.com X 1956 LA To improve the lives of our members through safe, competitive products and educational services. 10 4 211 15 0 0 0 0 24808926 28105499 145747 403224 0 0 24954673 28508723 0 0 0 0 10697250 11807758 0 0 0 12715785 14352455 23413035 26160213 1541638 2348510 236183515 256387436 212782245 230678401 23401270 25709035 Provide banking related services to over 40000 members of which many fall below federal and state poverty levels. Many do not qualify for financial services with banks, including checking accounts and mortgage loans due to low income or prior credit history. 0 0 18603156 Loan program with competitive interest pricing to all members, including members with little or poor credit history. Wide spectrum of lending products including auto loans with no down payment, mortgage lending, credit cards, unsecured lending, and payday alternative lending. 7299671 Deposit program offering variety of savings and transactional products, most with no monthly fee and above market interest rates. Checking accounts geared for easy entry regardless of prior checking history. Partners in Education programs; provided free financial educational programs throughout the state, including credit management, credit repair, budgeting, and checking account balancing. Seminars are conducted in local high schools, community centers, and hospitals throughout the state. We provided free credit counseling program to members, helping them create budgets as well as rebuild their credit. 5 employees are dedicated to this program full time. Staff conducted 95 workshops throughout the state, with 2002 attendees, of which 163 were members and 1839 were nonmembers. We also teach financial education to high school students - last year we went to 5 high schools, speaking to 359 students. 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 11540 0 1 211 1 0 0 0 0 0 0 X 10 4 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 LA X Annette Thames 2254086114 3232 S Sherwood Forest Blvd Baton Rouge LA 70816 X Linda Brassett Board Member/Director 3 0 X 0 0 0 David Colvin Board Member/Director 3.00 0 X 0 0 0 Gary Crockett Board Member/Director 3.00 0 X 0 0 0 Janelle Folse Board Member/Director 3 0 X 0 0 0 David Gill Board Member/Director/ President 4.00 0 X X 0 0 0 Linda Lochbrunner Board Member/Director 3 0 X 0 0 0 Samuel McDaniel Board Member/Director/Vice President 3.00 0 X X 0 0 0 Aryon McGuire Board Member/Director 3 0 X 0 0 0 William Mullinnix Board Member/Director 3.00 0 X 0 0 0 Robert Wilson Board Member/Director/Treasurer 4.00 0 X X 0 0 0 Jeffrey K Conrad CEO 70 0 X 261082 0 31285 Annette Thames Senior Vice President 50 0 X 159678 0 26101 Ronald Stephens Senior Vice President 50 0 X 142483 0 20973 Charles Michael Morgan Vice President Information Services 50 0 X 131399 0 24132 Paul Waild Vice President of Mortgage Lending 40 0 X 101241 0 22547 Paige Corcoran VP of Lending 50 0 X 100838 0 14172 Lindsey Richard VP of Project Mgmt 40 0 X 104533 0 22795 1001254 0 162005 7 0 1 0 Labarre 8385 Rushing Road Denham Springs LA 70726 Facility Maintenance/Architect/Construction 1286679 Bancvue P O Box 527 Lubbock TX 79408 Marketing and Software 560308 Jack Henry P O Box 609 Monett MO 65708 Data Processor (Core System) 374801 Alpha Omega P O Box 3564 Shreveport LA 71133 Statement Printing 200870 McGlinchey Stafford P O Box 2153 Birmingham AL 35287 Legal/Attorney 188842 11 0 Loans to Members 522130 17861489 17861489 0 0 Member Savings Products 522130 604493 604493 0 0 Member Checking Products 522130 4437729 4437729 0 0 Debit, Visa, ATM Plastics 522130 2621981 2621981 0 0 Loan Ancillary Products 522130 2320149 2320149 0 0 259658 259658 0 0 28105499 403224 403224 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 28508723 28508723 0 0 0 0 0 0 501251 0 8107866 328468 2185506 684667 0 46958 200647 0 0 0 578837 591727 1423487 482385 0 1121689 260276 0 176284 1838240 0 795601 405112 Provision for Loan Losses 3620160 Shared Branching 234233 Sharedraft, Debit, Visa, and ATM 1285466 Loan Processing and Collections 742686 548667 26160213 0 0 0 6457877 3452549 30385276 20516678 0 0 2561825 2737438 0 3588262 0 0 179854944 204112532 0 0 386985 562749 19392570 5509271 11140699 13883299 0 0 0 0 0 0 9356 5613 5386553 7528316 236183515 256387436 1600871 2245078 0 0 0 0 0 0 0 0 0 0 0 0 0 0 211181374 228433323 212782245 230678401 X 0 0 0 0 23401270 25709035 23401270 25709035 236183515 256387436 2348510 -40745 0 0 0 0 X 0 1 X 1 0 0 0 4477670 0 4477670 6907820 0 1450511 5457309 1118294 0 378497 739797 6136259 0 3680263 2455996 752527 0 0 752527 13883299 0 Member Deposits 228433323 228433323 28508723 0 0 0 0 0 28508723 0 0 0 28508723 26160213 0 0 0 0 0 26160213 0 0 0 26160213 X 1 1 X X X X 0 1 0 Jeffrey K Conrad CEO 255082 0 0 0 6000 0 0 0 31285 0 292367 0 0 0 Annette Thames Senior Vice President 157278 0 0 0 2400 0 0 0 26101 0 185779 0 0 0 Ronald Stephens Senior Vice President 140083 0 0 0 2400 0 0 0 20973 0 163456 0 0 0 Charles Michael Morgan Vice President Information Services 131399 0 0 0 0 0 0 0 24132 0 155531 0 0 0 Schedule J, Part I, Line 1a Board members are reimbursed for spouse travel up to $599 per year, including meals and flight. Schedule J, Part I, Line 3 HR Committee of Board of Directors conducts an evaluation of the CEO, consults with an independent HR consultant to review salary survey data, and then makes a recommendation to the full Board of Directors for increases to salary. Schedule J, Part I, Line 4 The credit union deposited funds into a life insurance policy on the participant's life. During life, and subject to the policy generating sufficient values, the participant can borrow from the policy. At death, the organization recovers its premiums plus interest plus additional key-person insurance proceeds. Samuel McDaniel Board Member Mortgage X 120000 112682 0 1 1 Samuel McDaniel Board Member Credit Card X 18695 2911 0 1 1 Henry A McGuire Board Member Personal X 9500 6057 0 1 1 Henry A McGuire Board Member Auto X 11131 2591 0 1 1 William Mullinnix Board Member Personal X 8855 2912 0 1 1 William Mullinnix Board Member Mortgage X 75000 73237 0 1 1 William Mullinnix Board Member Credit Card X 20007 19599 0 1 1 David W Colvin Board Member Credit Card X 13657 6160 0 1 1 Henry McGuire Board Member Personal X 3742 2135 0 1 1 Bobby Wilson Board Member Credit Card X 7919 3089 0 1 1 Dorislyn S Tolbert Supervisory Committee Auto X 19676 12750 0 1 1 Dorislyn S Tolbert Supervisory Committee Credit Card X 15000 12618 0 1 1 Annette Thames Key Employee RV X 21417 16769 0 1 1 Annette Thames Key Employee Auto X 17619 12580 0 1 1 Annette Thames Key Employee Mortgage X 182750 180929 0 1 1 Annette Thames Key Employee Mortgage Home Equity X 64500 62671 0 1 1 Annette Thames Key Employee Credit Card X 25008 20265 0 1 1 Jeffrey Conrad Key Employee Credit Card X 23812 13122 0 1 1 Charles M Morgan Highly Compensated Employee Auto X 27671 22249 0 1 1 Charles M Morgan Highly Compensated Employee Mortgage X 115000 100345 0 1 1 Charles M Morgan Highly Compensated Employee Credit Card X 19998 19702 0 1 1 Gary L Crockett Board Member Credit Card X 4861 3273 0 1 1 Lindsey P Richard Highly Compensated Employee Auto X 13536 9953 0 1 1 Lindsey Richard Highly Compensated Employee Auto X 18075 13023 0 1 1 Jeffrey Conrad Key Employee Credit Card X 30035 20233 0 1 1 Ronald Stephens Highly Compensated Employee Auto X 24317 17157 0 1 1 Ronald Stephens Highly Compensated Employee Mortgage X 244800 242993 0 1 1 Ronald Stephens Highly Compensated Employee Mortgage X 52000 51102 0 1 1 Ronald Stephens Highly Compensated Employee Credit Card X 35083 32135 0 1 1 Jeffrey Conrad Key Employee Fund Purchase of Cash Value Life Insurance Policy X 2493020 2493020 0 1 1 3588262 Form 990, Part VI, Section A, Line 6 Organization is made up of individuals who each pay $5.00 membership fee and deposit of $5.00 minimum balance into a share (savings) account. Form 990, Part VI, Section A, Line 7a Any member with a $5.00 minimum balance (par value of a share) in their regular share (savings) account is entitled to a vote on the Board of Directors. Elections occur at the annual membership meeting held in April each year. Form 990, Part VI, Section A, Line 7b Modifications to the Articles of Incorporation under which the credit union is chartered are required to be approved by a majority vote of the members. Form 990, Part VI, Section B, Line 11b Form 990 is reviewed by senior management employees before being emailed to the full Board of Directors prior to filing. Form 990, Part VI, Section B, Line 12c Our independent CPA firm, in conjunction with the Supervisory Committee, reviews internal controls and conflicts of interest regularly and consistently (annually). This information is reported directly to the Board of Directors and Management. In between those reviews our internal audit department reviews the "Conflict of Interest" Policy, and reports back to Senior Management. Additionally, the Credit Union subscribes to "Ethicspoint" software, where employees can anonymously report suspicions or concerns. These reports are immediately communicated to all of Senior Management and HR, unless the concern lies with a senior manager, at which point the report would be communicated to all other senior managers and a representative of the supervisory committee. Form 990, Part VI, Section B, Line 15 All employee salaries including key employees are determined by a salary software. Software integrates salary surveys from 3 independent sources to formulate a salary range for each position, with step increases based on tenure in position. Employees undergo a performance review annually with a score that is applied as a merit increase; the salary survey data determines if market increases are applicable in addition to the merit increase. All employees were reviewed in 2015 with salary adjustments. The CEO was reviewed by the Board of Directors and given a merit increase based on the scoring of that review. Form 990, Part VI, Section C, Line 19 All information is available upon request, with financial data presented to membership at the annual membership meeting held in April. Credit Union was in the midst of acquiring another credit union (effective date 5/1/2016) so I took advantage of the automatic extension.