2025-11-10T12:06:17-06:00 2024-12-31 994260840 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2024-01-01 750992590 TEXANS CREDIT UNION TEXA 9723482000 777 EAST CAMPBELL RD RICHARDSON TX 75081 BENJAMIN HART CFO 9723482000 2025-11-03 0 AUBREY CLEGG P01076395 3052328272 2025-11-03 2024 2025-03-06 01:10:19Z DAVID FRAZIER 777 EAST CAMPBELL RD RICHARDSON TX 75081 124072587 0 X WWW.TEXANSCU.ORG X 1953 TX TEXANS CREDIT UNION IS A STATE CHARTERED CREDIT UNION FORMED UNDER THE STATE CREDIT UNION LAW. THE CREDIT UNION IS A MEMBER-OWNED COOPERATIVE THAT PROVIDES TRADITIONAL DEPOSIT AND LOAN PRODUCTS, AS WELL AS OTHER FINANCIAL SERVICES TO THE MEMBERSHIP. THE CREDIT UNION'S FOCUS IS TO MAKE OUR MEMBER'S LIVES BETTER WHILE SERVING OUR COMMUNITIES. 5 5 324 7 1063349 0 0 0 74173628 92228321 24384499 31180829 0 226710 98558127 123635860 0 0 0 0 23526633 28879055 0 0 0 51117601 73833830 74644234 102712885 23913893 20922975 2195933253 2243918289 2025027779 2038910445 170905474 205007844 X TEXANS CREDIT UNION IS A STATE CHARTERED CREDIT UNION FORMED UNDER THE STATE CREDIT UNION LAW. THE CREDIT UNION IS A MEMBER-OWNED COOPERATIVE THAT PROVIDES TRADITIONAL DEPOSIT AND LOAN PRODUCTS, AS WELL AS OTHER FINANCIAL SERVICES TO THE MEMBERSHIP. THE CREDIT UNION'S FOCUS IS TO IMPROVE THE ECONOMIC WELL-BEING OF OUR MEMBER OWNERS. 0 0 LOANS: THE CREDIT UNION PROVIDES LOANS OF ALL TYPES IN MANY DIFFERENT CATEGORIES. THE OFFERINGS INCLUDE CONSUMER AUTOMOBILE LOANS, UNSECURED LOANS, RESIDENTIAL MORTGAGE LOANS, HOME EQUITY AND HOME IMPROVEMENT LOANS. AS PART OF THE LOAN PROGRAM THE CREDIT UNION ALSO OFFERS SEVERAL LOAN RELATED INSURANCE PRODUCTS SUCH AS CREDIT LIFE AND DISABILITY, MECHANICAL BREAKDOWN AND GAP INSURANCE. SHARES SAVINGS AND CERTIFICATES OF DEPOSITS: THE CREDIT UNION OFFERS A NUMBER OF SHARE SAVINGS ACCOUNTS, MONEY MARKET SAVINGS, AND IRA SAVINGS ACCOUNTS. THESE ACCOUNTS PAY DIVIDENDS MONTHLY. OTHER TYPES OF DEPOSIT SAVINGS OFFERINGS INCLUDE CERTIFICATES OF DEPOSIT, BOTH REGULAR MEMBER CERTIFICATES AND IRA CERTIFICATES. THE CERTIFICATES PAY INTEREST ON A MONTHLY BASIS. CHECKING ACCOUNTS: THE CREDIT UNION OFFERS TWO CHECKING ACCOUNT PRODUCTS. ONE ACCOUNT HAS SIMPLE WAYS TO WAIVE THE MONTHLY SERVICE CHARGE. THE OTHER OFFERS DIVIDENDS TO THOSE MEMBERS WITH HIGHER BALANCES. BOTH PRODUCTS HAVE FEATURES THAT INCLUDE FREE E-SERVICES AND ACCESS TO THOUSANDS OF ATMS. 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 1 1 0 0 1 16503 0 1 324 1 1 1 0 0 0 0 0 0 0 X 5 5 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X BENJAMIN HART 9723482391 777 EAST CAMPBELL RD RICHARDSON TX 75084 GEORGE CONSOLVER CHAIRPERSON 1.00 X 0 0 0 ED FAWCETT VICE CHAIRPERSON 1.00 X 0 0 0 ESTELLA MARTINEZ SECRETARY 1.00 X 0 0 0 THOMAS BOEDECKER TREASURER 1.00 X 0 0 0 LORI DANIEL BOARD MEMBER 1.00 X 0 0 0 FAHAD AWAIS ADVISORY DIRECTOR 1.00 X 0 0 0 SHYAMAL PARIKH ADVISORY DIRECTOR 1.00 X 0 0 0 DAVID FRAZIER CHIEF EXECUTIVE OFFICER 40.00 X 851896 0 38455 MICHAEL MCWETHY EXECUTIVE VICE PRESIDENT 40.00 X 630014 0 163778 BENJAMIN HART CHIEF FINANCIAL OFFICER 40.00 X 500408 0 155825 JENNIFER SHORT CHIEF PEOPLE OFFICER 40.00 X 282002 0 27800 TANYA PATTERSON SVP, STRATEGIC SOLUTIONS 40.00 X 258769 0 20161 JIANJUN BAI VP DEV & HOST SYSTEMS 40.00 X 240206 0 91071 DANIEL MATHEWS VP CONSUMER LENDING 40.00 X 232413 0 22512 ANGELA JACKSON VP REAL ESTATE LENDING 40.00 X 234048 0 17884 TRACY MONTEZ SVP CONTROLLER 40.00 X 232096 0 30111 3461852 0 567597 42 0 1 0 FISERV PO BOX 208457 DALLAS TX 453208457 NETWORK EFT 1946908 ALKAMI PO BOX 122223 DALLAS TX 75019 INTERNET HOME BANKING SERVICER 1922495 RED ELEPHANT 200 E VALLEY RIDGE BLVD LEWISVILLE TX 75057 REMODELLING HQ & BRANCHES 872104 LEVEL 3 COMMUNICATIONS PO BOX 910182 DENVER CO 80291 IP AND DATA SERVICES 771316 LANVERA 112 WRANGLER DRIVE SUITE 150 COPPELL TX 75019 STATEMENT PROCESSING 759257 53 INTEREST INCOME LOANS 522100 74592657 74592657 FEES AND CHARGES 522100 8371366 8371366 OTHER INCOME 522100 8200949 8200949 FINANCE & INSURANCE 520000 1063349 1063349 92228321 31233879 31233879 362784 136074 226710 226710 226710 247603 300653 -53050 -53050 -53050 123635860 122572511 1063349 0 X 2650178 20055281 842721 3715572 1615303 61856 203754 717208 2312517 3067651 3617829 2628359 256008 42720076 183551 2655739 284567 PROVISION FOR LOAN LOSS 4814267 CREDIT/DEBIT EXPENSE 3438776 HOME BANKING 1984257 ATM NETWORK 1563183 3324232 102712885 7458454 8167690 61603399 161494906 15542199 15654197 1411012362 1548739867 3172102 2753427 58815638 31876570 26101091 26939068 605211750 406925718 26866986 27756736 38964910 45486680 2195933253 2243918289 32311723 30382726 1992716056 2008527719 2025027779 2038910445 X 0 0 0 0 170905474 205007844 170905474 205007844 2195933253 2243918289 X 20922975 13200914 -21519 X X 0 1 X 1 0 6578356 6578356 28855342 12975259 15880083 2443054 2105267 337787 20938886 16796044 4142842 26939068 MEMBER SHARES 2008527719 2008527719 X 123824984 0 123824984 -189124 -189124 123635860 102902009 189124 189124 102712885 0 102712885 PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED NET OF RENTAL REVENUE IN THE STATEMENT OF REVENUE OF FORM 990 BUT REPORTED AS A COMPONENT OF EXPENSES WITHIN THE AUDITED FINANCIALS -136,074. LOSSES ON SOLD ASSETS REPORTED IN THE STATEMENT OF REVENUE BUT REPORTED AS A COMPONENT OF EXPENSES WITHIN THE AUDITED FINANCIALS -53,050. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED NET OF RENTAL REVENUE IN THE STATEMENT OF REVENUE OF FORM 990 BUT REPORTED AS A COMPONENT OF EXPENSES WITHIN THE AUDITED FINANCIALS 136,074. LOSSES ON SOLD ASSETS REPORTED IN THE STATEMENT OF REVENUE BUT REPORTED AS A COMPONENT OF EXPENSES WITHIN THE AUDITED FINANCIALS 53,050. X 1 1 X X X X X X 0 1 0 DAVID FRAZIER CHIEF EXECUTIVE OFFICER 680593 0 150000 0 21303 0 17208 0 21247 0 890351 0 0 0 MICHAEL MCWETHY EXECUTIVE VICE PRESIDENT 369938 0 93019 0 167057 0 136560 0 27218 0 793792 0 124346 0 BENJAMIN HART CHIEF FINANCIAL OFFICER 286627 0 64410 0 149371 0 130609 0 25216 0 656233 0 119380 0 JIANJUN BAI VP DEV & HOST SYSTEMS 209788 0 29843 0 575 0 78329 0 12742 0 331277 0 0 0 JENNIFER SHORT CHIEF PEOPLE OFFICER 236938 0 44081 0 983 0 13726 0 14074 0 309802 0 0 0 TANYA PATTERSON SVP, STRATEGIC SOLUTIONS 221755 0 32118 0 4896 0 7488 0 12673 0 278930 0 0 0 TRACY MONTEZ SVP CONTROLLER 194577 0 28801 0 8718 0 11340 0 18771 0 262207 0 0 0 DANIEL MATHEWS VP CONSUMER LENDING 205586 0 26817 0 10 0 11475 0 11037 0 254925 0 0 0 ANGELA JACKSON VP REAL ESTATE LENDING 199916 0 33689 0 443 0 6923 0 10961 0 251932 0 0 0 PART I, LINE 4B THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO DAVID FRAZIER, MIKE MCWETHY, AND BENJAMIN HART THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." UNDER THE AGREEMENT, THE EXECUTIVE IS THE OWNER OF THE POLICY AND MAKES A COLLATERAL ASSIGNMENT TO THE CREDIT UNION IN RETURN FOR A LOAN. AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE UNDERLYING LIFE INSURANCE POLICY TO SUPPLEMENT RETIREMENT INCOME. THESE DRAWS ARE TAX FREE FOR THE PARTICIPANTS. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. THE CREDIT UNION ESTABLISHED A DEFERRED CASH PLAN FOR CERTAIN EXECUTIVES, AS OF DECEMBER 31, 2024: MICHAEL MCWETHY: $124,346 (PAYOUT); $124,346 (ACCRUED) BENJAMIN HART: $119,380 (PAYOUT); $113,411 (ACCRUED) JIANJUN BAI: $66,667 (ACCRUED) DAVID FRAZIER CEO TO FUND LIFE INSURANCE POLICY X 16731355 14522987 0 1 1 MIKE MCWETHY CXO TO FUND LIFE INSURANCE POLICY X 542480 724557 0 1 1 BENJAMIN HART CFO TO FUND LIFE INSURANCE POLICY X 242000 406653 0 1 1 15654197 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. MEMBERS MUST MEET THE "FIELD OF MEMBERSHIP" REQUIREMENTS. 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, 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 COMPLETED FORM WILL BE REVIEWED BY THE CEO PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE EMPLOYEES OF THE ORGANIZATION ARE REQUIRED TO REVIEW AND ACKNOWLEDGE THE REVIEW OF THE POLICIES WHEN HIRED INTO THE ORGANIZATION AND ANNUALLY. COMMUNICATIONS ARE SENT TO EMPLOYEES NOTIFYING THEM OF ANY CHANGES TO THE POLICY. THE CREDIT UNION ALSO PROVIDES AN ANONYMOUS ELECTRONIC REPORTING SYSTEM WHICH IS MAINTAINED THROUGH HR AND INTERNAL AUDIT. FORM 990, PART VI, SECTION B, LINE 15 THE CHIEF PEOPLE OFFICER PROVIDES COMPARATIVE DATA TO THE COMPENSATION COMMITTEE ON AN ANNUAL BASIS. THE COMPENSATION COMMITTEE, WHICH IS MADE UP OF THREE MEMBERS OF THE BOARD OF DIRECTORS, PREVIEW THE INFORMATION ANNUALLY AND DELIBERATES TO MAKE RECOMMENDATIONS REGARDING THE PERFORMANCE REVIEW PROCESS AND ANNUAL COMPENSATION CHANGES OF THE CEO WHICH ARE SUBSQUENTLY APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS THAT ARE REQUIRED TO BE MADE AVAILABLE TO THE PUBLIC ARE PROVIDED USING DIFFERENT METHODS. SOME ARE PROVIDED THROUGH POSTING OF SIGNS IN PUBLIC LOCATIONS SUCH AS THE LOBBIES OF BRANCH OFFICES. OTHER GOVERNING DOCUMENTS/NOTICES THAT REQUIRE ANNUAL MAILINGS ARE PROVIDED TO THE MEMBERSHIP AS REQUIRED BY MAIL. THE WEBSITE IS ALSO USED TO PROVIDE CERTAIN REQUIRED DOCUMENTS. FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICES 717,208. FORM 990, PART IX, LINE 24E LOAN SERVICING 1,325,013. MISCELLANEOUS 726,913. IMPAIRMENT OF SPLIT DOLLAR LIFE INSURANCE 629,278. CREDIT/DEBIT FRAUD 365,853. COLLECTIONS 277,175. FORM 990, PART XI, LINE 9: NET PENSION GAINS/(LOSSES) -21,519. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES TO THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. CREDIT UNION LIQUIDATION SERVICES LLC 777 E CAMPBELL RD STE 650 RICHARDSON TX 75081 201118819 WAREHOUSE COMMERCIAL LOANS TX 24 0 TEXANS CU TF-GSR LLC 777 E CAMPBELL RD STE 650 RICHARDSON TX 75081 264678354 MANAGE & HOLD REO PROPERTY TX 0 CREDIT UNION LIQUIDITY SERVICES LLC TF-LINCOLN MALL LLC 777 E CAMPBELL RD STE 650 RICHARDSON TX 75081 274356028 MANAGE & HOLD REO PROPERTY IL 0 CREDIT UNION LIQUIDITY SERVICES LLC TEXANS CUSO PARTNERS 777 E CAMPBELL RD STE 470 RICHARDSON TX 750811891 020792757 INVESTMENT SERVICES TX TEXANS CREDIT UNION C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 FORM 990, SCHEDULE R, PART I CREDIT UNION LIQUIDATION SERVICES, LLC, TF-GSR LLC, AND TF-LINCOLN MALL, LLC, WERE CLOSED EFFECTIVE DECEMBER 31, 2024. ACTIVITY BETWEEN JANUARY 1, 2024 AND DECEMBER 31, 2024 IS REPORTED IN PART I FOR EACH ENTITY. HOWEVER, TOTAL ASSETS AS OF DECEMBER 31, 2024 WERE $0 AS A RESULT OF THE TERMINATION. FORM 990, SCHEDULE R, PART IV TEXANS CUSO PARTNERS HAD NO ACTIVITY.