2015-08-17T09:48:33-05:00 2014-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2014-01-01 610671028 COMMONWEALTH CREDIT UNION COMM 5025644775 PO BOX 978 FRANKFORT KY 406020978 KAREN HARBIN CEO 5025644775 2015-08-03 ROBIN D HOAG CPA P00360662 2482443000 2014 2016-03-07 17:11:31Z KAREN HARBIN PO BOX 978 FRANKFORT KY 406020978 52233982 0 X WWW.CCUKY.ORG X 1951 KY "WE BETTER LIVES THROUGH OUR PASSION TO SERVE..." THE CREDIT UNION PROVIDES ITS MEMBERS WITH A SAFE PLACE TO SAVE AND A SOURCE OF CREDIT IN A NOT-FOR-PROFIT CONTEXT. WE STRIVE TO IMPROVE THE LIVES OF THOSE WE SERVE BY HELPING THEM ACHIEVE THEIR DREAMS THROUGH FINANCIAL HEALTH AND SUCCESS. 13 12 306 17 473179 -508838 0 0 44305384 47903095 3976385 3853467 2469500 473179 50751269 52229741 0 0 0 0 18519087 20568788 0 0 0 22888178 23706407 41407265 44275195 9344004 7954546 943977341 979204360 766881722 790760431 177095619 188443929 X "WE BETTER LIVES THROUGH OUR PASSION TO SERVE..." THE CREDIT UNION PROVIDES ITS MEMBERS WITH A SAFE PLACE TO SAVE AND A SOURCE OF CREDIT IN A NOT-FOR-PROFIT CONTEXT. WE STRIVE TO IMPROVE THE LIVES OF THOSE WE SERVE BY HELPING THEM ACHIEVE THEIR DREAMS THROUGH FINANCIAL HEALTH AND SUCESS. 0 0 SHARES:THE CREDIT UNION HAS 163,780 SHARE ACCOUNTS CONSISTING OF OVER $780 MILLION. COMMONWEALTH CREDIT UNION HAS A MYRIAD OF SAVINGS OPTIONS FROM WHICH MEMBERS CAN SELECT FROM TO GROW THEIR FUTURES. LOANS:COMMONWEALTH CREDIT UNION'S LOAN PORTFOLIO EXCEEDS $646 MILLION. THE CREDIT UNION HAS 72,244 LOAN ACCOUNTS. LOANS ARE PROVIDED TO 63,578 MEMBERS. COMMONWEALTH OFFERS ITS MEMBERS AN ARRAY OF LOAN PRODUCTS TO MEET THEIR CREDIT NEEDS. MISCELLANEOUS FINANCIAL SERVICES:COMMONWEALTH CREDIT UNION OFFERS A VARIETY OF SERVICES TO ITS 84,438 MEMBERS. THESE INCLUDE ONLINE BANKING, MOBILE BANKING, BILL PAYMENT, REMOTE & MOBILE DEPOSIT, AND OTHER ELECTRONIC SERVICES. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 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 21878 0 1 306 1 1 1 0 0 0 0 0 X 13 12 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X KAREN HARBIN CEO 5025644775 417 HIGH STREET FRANKFORT KY 40601 BOB BENDER BOARD OF DIRECTORS 1.00 X 0 0 0 JIM CHADWELL BOARD OF DIRECTORS 1.00 X 2020 0 0 RANDY OVERSTREET BOARD OF DIRECTORS 1.00 X 605 0 0 RANDY FAWNS BOARD OF DIRECTORS 1.00 X 0 0 0 REGINA GRUBBS BOARD OF DIRECTORS 1.00 X 0 0 0 MARY FOSTER BOARD OF DIRECTORS 1.00 X 0 0 0 KAY JONES BOARD OF DIRECTORS 1.00 X 0 0 0 HARRY SUTER BOARD OF DIRECTORS 1.00 X 0 0 0 ALEX ROSE BOARD OF DIRECTORS 1.00 X 0 0 0 BILL LEACH BOARD OF DIRECTORS 1.00 X 967 0 0 ROBIN BREWER BOARD OF DIRECTORS 1.00 X 0 0 0 KAREN HARBIN CEO/BOARD MEMBER 40.00 X X 263210 0 115844 KENNETH BLACKWELL BOARD OF DIRECTORS 1.00 X 1904 0 0 LOUISE BRYANT-RITCHIE VICE PRESIDENT OF FINANCE 40.00 X 144273 0 62664 DAVID YOUNG EXECUTIVE VICE PRESIDENT 40.00 X 188077 0 79606 ALAN DAVIS VICE PRESIDENT OF LENDING 40.00 X 136024 0 64633 ANNE BURGESS CHIEF INFORMATION OFFICER 40.00 X 145101 0 62869 KAREN MAXFIELD VICE PRESIDENT OF HUMAN RE 40.00 X 126427 0 55664 DOUG GRAHAM INFORMATION SYSTEMS MANAGE 40.00 X 121809 0 53852 CHEYENNE MILLS INFORMATION SYSTEMS SECURI 40.00 X 118307 0 52479 1248724 0 547611 8 0 1 0 LEVEL5 LLC 2018 POWERS FERRY RD STE 750 ATLANTA GA 30339 BRANCH PLANNING AND CONSTRUCTION 1243932 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 SYMITAR MAINTENANCE & EXPENSES 1032119 CDW DIRECT LLC PO BOX 75723 CHICAGO IL 60675 INFORMATION TECHNOLOGY EQUIPMENT, SOFTWA 778319 VISA USA INC PO BOX 742233 LOS ANGELES CA 90074 VISA PROCESSING & SERVICES 731374 KENTUCKY ALLIANCE FOR RADIO & TELEVISION 1023 GARDEN CREEK CIRCLE LOUISVILLE KY 40223 KART MARKETING ALLIANCE CAMPAIGN 624429 29 INTEREST ON LOANS 522100 34806283 34806283 FEE INCOME 522100 7160036 7160036 INTERCHANGE INCOME 522100 5278764 5278764 OTHER INCOME 522100 658012 658012 47903095 3841059 3841059 15144 1505 0 4241 15144 -2736 12408 12408 INS COMM MEMBER SERVICES 524298 395613 395613 INCOME ON NON-MEMBER WITHDRAWALS 525990 77566 77566 473179 52229741 47903095 473179 3853467 859170 13154677 3882493 1722963 949485 151911 79356 733951 1736347 1266876 10332 2886366 104822 94521 2883002 1620321 97639 PROVISION FOR LOAN LOSS 5176012 PROCESSING FEES 3610208 REGULATORY FEES 393221 2861522 44275195 6864548 7883878 18035450 13774190 5845780 6651060 585537673 640004345 1317708 1464588 48648010 22730969 22321003 25917041 286144391 267408380 7819282 5927300 10091506 10173578 943977341 979204360 10681873 10561175 756199849 780199256 766881722 790760431 X 0 0 0 0 177095619 188443929 177095619 188443929 943977341 979204360 7954546 3393764 0 X X 0 1 X 1 0 5979023 5979023 29251775 11940492 17311283 13417212 10790477 2626735 25917041 SHARE 379953151 INDIVIDUAL RETIREMENT ACCOUNTS 55170871 MONEY MARKET 91748983 SHARE DRAFT 110061649 CERTIFICATE OF DEPOSIT & IRA CERTIFICATES 143264602 780199256 52229403 -338 -338 52229741 0 52229741 44274858 0 44274858 337 337 44275195 PART XI, LINE 2D - OTHER ADJUSTMENTS: INTERNATIONAL SERVICE ASSESSMENT PART XII, LINE 4B - OTHER ADJUSTMENTS: INTERNATIONAL SERVICE ASSESSMENT PART XI & XII GL 506221, ISA - INTERNATIONAL SERVICE ASSESSMENT WAS CLASSIFIED AS NON-OPERATING INCOME (EXPENSE) VERSUS ON THE CREDIT UNION'S FINANCIALS THEY ARE CLASSIFIED AS A NON-INTEREST EXPENSE. ALSO, THE DIFFERENCE FROM THE GL BALANCE OF $334 TO $338/$337 IS DUE TO ROUNDING. X 1 0 X X X X 0 0 0 KAREN HARBIN CEO/BOARD MEMBER 250124 0 11338 0 1748 0 108496 0 7348 0 379054 0 0 0 LOUISE BRYANT-RITCHIE VICE PRESIDENT OF FINANCE 136622 0 7651 0 0 0 55934 0 6730 0 206937 0 0 0 DAVID YOUNG EXECUTIVE VICE PRESIDENT 182243 0 5834 0 0 0 72917 0 6689 0 267683 0 0 0 ALAN DAVIS VICE PRESIDENT OF LENDING 126757 0 8002 0 1265 0 57880 0 6753 0 200657 0 0 0 ANNE BURGESS CHIEF INFORMATION OFFICER 139854 0 5247 0 0 0 56256 0 6613 0 207970 0 0 0 KAREN MAXFIELD VICE PRESIDENT OF HUMAN RE 119833 0 6594 0 0 0 49016 0 6648 0 182091 0 0 0 DOUG GRAHAM INFORMATION SYSTEMS MANAGE 115729 0 6080 0 0 0 47225 0 6627 0 175661 0 0 0 CHEYENNE MILLS INFORMATION SYSTEMS SECURI 113351 0 4956 0 0 0 45868 0 6611 0 170786 0 0 0 LINE 1A A PER DIEM IS PAID FOR MEALS FOR BOARD MEMBERS' TRAVEL COMPANIONS. FORM 990, PART VI, SECTION A, LINE 6 ANY INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS A MEMBER. IN TOTAL, THERE ARE 84,438 MEMBERS OF THE CREDIT UNION. ELIGIBILITY TO JOIN COMMONWEALTH CREDIT UNION IS BASED ON PARTICIPATION IN A KENTUCKY RETIREMENT SYSTEM (KENTUCKY EMPLOYEES RETIREMENT, KENTUCKY TEACHERS RETIREMENT, COUNTY EMPLOYEE'S RETIREMENT, AND KENTUCKY STATE POLICE SYSTEM AND EMPLOYEES OF THE FIELD OF EDUCATION). RELATIVES OF FAMILY MEMBERS PARTICIPATING IN KRS ARE ALSO ELIGIBLE FOR MEMBERSHIP IN THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A COMMONWEALTH CREDIT UNION BOARD OF DIRECTORS ARE ELECTED BY THE MEMBERSHIP AT AN ANNUAL MEETING HELD IN JANUARY OF EACH YEAR. EACH PRIMARY MEMBER IS ENTITLED TO ONE VOTE TO ELECT THE BOARD. FORM 990, PART VI, SECTION B, LINE 11 COMMONWEALTH CREDIT UNION BOARD OF DIRECTORS WERE PROVIDED WITH A COPY OF THE FORM PRIOR TO THE BOARD MEETING. THEY WERE ASKED TO REVIEW THE FORM AND CONTACT THE CEO WITH QUESTIONS. AT THE BOARD MEETING, THE CEO PROVIDED EXPLANATIONS AND ANSWERED QUESTIONS FROM THE BOARD DURING THE REVIEW OF THE FORM. FORM 990, PART VI, SECTION B, LINE 12C A STATEMENT OF THE CREDIT UNION'S COMPLIANCE WITH KENTUCKY REVISED STATUE 290.195 IS INCLUDED IN THE ASSOCIATE HANDBOOK WHICH EACH EMPLOYEE SIGNS AS HAVING READ AND AGREES TO ABIDE BY KRS290.195 WHICH PROVIDES THAT NO DIRECTOR, OFFICER OR ASSOCIATES PARTICIPATE IN INTEREST THAT COULD GIVE RISE TO CONFLICT. ALSO, AT THE BEGINNING OF EACH YEAR, EVERY EMPLOYEE MUST SIGN A CONFLICT OF INTEREST POLICY. THE HUMAN RESOURCE DEPARTMENT ENSURES THAT EACH EMPLOYEE SIGNS AND AGREES TO THIS POLICY AND MONITORS THAT IT IS DONE. FORM 990, PART VI, SECTION B, LINE 15 INTEGRITY HR IS USED AS AN OUTSIDE CONSULTANT TO PROVIDE AN INDEPENDENT REVIEW OF THE POSITIONS, SALARIES, LEVELS, AND OVERALL COMPENSATION. INTEGRITY HR USES SEVERAL SOURCES OF COMPARABLE DATA INCLUDING CUNA SALARY SURVEYS, AS WELL AS LOCAL, REGIONAL AND NATIONAL SALARY DATA. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIALS ARE MADE AVAILABLE AND DISTRIBUTED TO THE PUBLIC EVERY YEAR AT THE ANNUAL MEETING IN PAMPHLET FORM. GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIALS WOULD ALSO BE DISTRIBUTED ON A REQUEST BASIS TO THE PUBLIC. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.