2025-11-13T15:06:01-06:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2024-01-01 741951016 FIRST SERVICE CREDIT UNION FIRS 7136768944 16430 PARK TEN PLACE HOUSTON TX 77084 JASON SWATSENBARG EVP/CFO 7136768944 2025-11-11 1 1 TANYA MEDGAARDEN P01717240 5074347000 2025-11-11 2024 2025-03-06 01:10:19Z DAVID BLEAZARD 16430 PARK TEN PLACE HOUSTON TX 77084 91080564 0 1 X WWW.FSCU.COM X CU 1977 TX FIRST SERVICE CREDIT UNION IS A COOPERATIVE CREDIT UNION THAT PROVIDES FINANCIAL PRODUCTS AND SERVICES TO MEMBERS. 8 8 353 8 2456321 58166 0 0 80905576 86186587 5008507 6271140 -463147 -1377163 85450936 91080564 0 0 11157703 21624130 24451070 25268115 0 0 0 38592757 43009334 74201530 89901579 11249406 1178985 1331618730 1605676109 1189674966 1459444782 141943764 146231327 FIRST SERVICE CREDIT UNION IS A COOPERATIVE CREDIT UNION THAT PROVIDES FINANCIAL PRODUCTS AND SERVICES TO MEMBERS. 0 0 FIRST SERVICE CREDIT UNION OFFERS SAVINGS ACCOUNTS TO MEMBERS OF ALL AGES THAT PAY DIVIDENDS ON A MONTHLY BASIS. WE HAD 96,225 MEMBERS AS OF DECEMBER 31, 2024. MEMBERS CAN ACCESS THEIR SAVINGS ACCOUNTS THROUGH OUR BRANCH NETWORK, INCLUDING OUR NATIONWIDE SHARED BRANCHING NETWORK. MEMBERS CAN ALSO ACCESS THEIR SAVINGS ACCOUNTS VIA HOME BANKING, TELEPHONE, MOBILE DEVICES AND ATMS. WE ALSO OFFER SPECIAL SAVINGS ACCOUNTS FOR CHILDREN AND TEENAGERS TO ENCOURAGE THE DEVELOPMENT OF CONSISTENT SAVINGS HABITS. FIRST SERVICE CREDIT UNION OFFERS CHECKING ACCOUNTS FOR OUR MEMBERS. SOME OF OUR CHECKING ACCOUNTS PAY DIVIDENDS ON A MONTHLY BASIS. CHECKING ACCOUNTS CAN BE ACCESSED THROUGH OUR BRANCH NETWORK AND A NATIONWIDE SHARED BRANCHING NETWORK. MEMBERS CAN ALSO ACCESS THEIR CHECKING ACCOUNTS VIA HOME BANKING, TELEPHONE, MOBILE DEVICES AND ATMS. MEMBERS CAN ALSO PAY BILLS ONLINE USING OUR FREE BILL PAY SERVICE. FIRST SERVICE CREDIT UNION PROVIDES LOANS TO MEMBERS FOR A VARIETY OF LOAN TYPES SUCH AS NEW AND USED AUTOS, UNSECURED, BOAT, MOTORCYCLE, RECREATIONAL AND REAL ESTATE AT VERY COMPETITIVE RATES WITH NO PRE-PAYMENT PENALTIES. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 11748 0 353 1 1 1 0 0 0 0 0 0 0 1 0 X 8 8 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X JASON SWATSENBARG 7136768968 16430 PARK TEN PLACE HOUSTON TX 77084 THOMAS BULLARD SECRETARY 1.00 X X 0 0 0 JANET HILL DIRECTOR 1.00 X 0 0 0 KOURTNEY CALHOUN CHAIR 1.00 X X 0 0 0 PAUL LOVE VICE CHAIR 1.00 X X 0 0 0 DOUG ESMOND TREASURER 1.00 X X 0 0 0 DAVID ITZ DIRECTOR 1.00 X 0 0 0 WAYNE TAYLOR DIRECTOR 1.00 X 0 0 0 DOMINQUE VARNER DIRECTOR 1.00 X 0 0 0 DAVID BLEAZARD PRESIDENT/CEO 50.00 X 1482553 0 49594 SHARON MOORE VP SPECIAL PROJECTS 50.00 X 137469 0 11370 KENNETH DARNELL SVP IT 50.00 X 153387 0 9640 BRETT DESHAZO VP COMMERCIAL SERVICES 50.00 X 144629 0 30466 ALVIN C COMEAUX VP SALES 50.00 X 136019 0 7981 KEMA COCHRAN CONTROLLER 50.00 X 135259 0 28246 ROBERT HANNAN VP COLLECTIONS 50.00 X 112910 0 16063 KERRY GRAHAM VP MARKETING 50.00 X 149186 0 20090 KAREN WIEHOFF VP 50.00 X 125163 0 10782 YOUNA MICHAEL VP DEVELOPMENT 50.00 X 100858 0 18551 FRANK HALSTEAD CRO 50.00 X 331468 0 10497 JASON SWATSENBARG EVP/CFO 50.00 X 247592 0 38492 MATTHEW DOWNING PRESIDENT OF ECU TECHNOLOGY 50.00 X 226460 0 35176 TERI EDGE CHIEF OPERATING OFFICER 50.00 X 202697 0 16522 JONATHAN SHURTZ EVP/ IN HOUSE COUNSEL 50.00 X 210464 0 30444 NOLAN WALTMAN CHIEF GROWTH OFFICER 50.00 X 201859 0 33909 MICHAEL ALEXANDER FINANCIAL ADVISOR 50.00 X 220197 0 3144 RAFEAL BALDERRABANO CFS ADVISOR 50.00 X 218145 0 14682 WESLEY GILMAN DIRECTOR 1.00 X 128367 0 15344 TAMARA WEBB VICE PRESIDENT OF SALES 50.00 X 125549 0 17048 SHAILAJA THAKKAR VP COMMERICIAL UNDERWRITER 50.00 X 110329 0 13537 4900560 0 431578 34 0 1 0 AMERICAN SERVICE GROUP PO BOX 3400 CONROE TX 77305 WARRANTY 3480245 TRUSTAGE 5910 MINERAL POINT ROAD MADISON WI 53705 INSURANCE 1580156 IESMARTSYSTEMS LLC 15200 EAST HARDY RD HOUSTON TX 77032 INFORMATION TECHNOLOGY 1570725 ENDURANCE BUILDERS LLC 2900 NORTH LOOP WEST SUITE 100 HOUSTON TX 77092 GENERAL CONTRACTOR 1188197 CORELATION INC 2305 HISTORIC DECATUR RD STE 300 SAN DIEGO CA 921066073 CORE PROCESSING SOFTWARE 983667 71 LOAN INTEREST 522100 60175776 60175776 OTHER OPERATING INCOME 522100 14323340 14323340 OTHER FEES & CHARGES 522100 11687471 9231150 2456321 86186587 6271140 6271140 OTHER NON-INTEREST INCOME 522100 -1377163 -1377163 -1377163 91080564 82353103 2456321 6271140 21624130 4465796 16999533 722993 1291673 1788120 221661 969678 274797 6963988 4104010 7598180 2886707 388253 574875 4078963 CREDIT LOSS EXPENSE 10373733 LOAN SERVICING EXPENSE 3076124 SECURITY EXPENSE 908673 MISC OPERATING EXPENSES 487731 101961 89901579 75012225 280271079 3394502 7622582 15501916 998450308 1048786767 2569498 3811028 76128715 24629771 45878590 51498944 131567671 124221542 17096365 21124224 6909294 6070875 50740277 46767152 1331618730 1605676109 22632116 20245458 981517 584763 108500000 250000000 1057561333 1188614561 1189674966 1459444782 X 0 0 0 0 141943764 146231327 141943764 146231327 1331618730 1605676109 X 1178985 353522 2755056 X X 0 1 X 1 0 0 1 X 13674667 13674667 38161383 8841018 29320365 2891141 1728620 1162521 17396071 12026724 5369347 4005453 2033409 1972044 51498944 MEMBER SHARES AND CDS 1184328880 ALLOWANCE FOR CREDIT LOSSES ON OFF-BALANCE SHEET CREDIT EXPOSURES 210789 NON MEMBER DEPOSITS 4074892 1188614561 X 92457727 1377163 1377163 91080564 0 91080564 91278749 1377170 1377170 89901579 0 89901579 PART IV, LINE 2B: THE CREDIT UNION HOLDS FUNDS IN ESCROW TO PAY TAXES AND INSURANCE ON BEHALF OF ITS MORTGAGE LOAN MEMBERS. PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY ON EXAMINATION BY TAX AUTHORITIES. MANAGEMENT HAS DETERMINED THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. THE CREDIT UNION WHOLLY OWNS A CONSOLIDATED CUSO. THE CUSO HAS ELECTED TO BE CONSIDERED A "DISREGARDED ENTITY" FOR TAX PURPOSES. THUS, THE CUSO'S INCOME AND EXPENSES ARE CONSIDERED INCOME AND EXPENSES BY ITS SINGLE OWNER, FIRST SERVICE CREDIT UNION. PART XI, LINE 2D - OTHER ADJUSTMENTS: OTHER NON-INTEREST INCOME 1,377,163. PART XII, LINE 2D - OTHER ADJUSTMENTS: OTHER NON-INTEREST INCOME 1,377,163. ROUNDING 7. SOUTH ASIA 1 18 PROGRAM SERVICES QA TESTERS AND PROGRAMMERS 718623 1 18 0 0 1 18 718623 0 718623 0 0 0 0 0 0 PART I, LINE 2: N/A - NO GRANTS X 1 1 X X X X 0 1 0 DAVID BLEAZARD PRESIDENT/CEO 676272 0 247378 0 558903 0 27600 0 21994 0 1532147 0 0 0 FRANK HALSTEAD CRO 204785 0 111352 0 15331 0 6157 0 4340 0 341965 0 0 0 JASON SWATSENBARG EVP/CFO 193882 0 15218 0 38492 0 19631 0 18861 0 286084 0 0 0 MATTHEW DOWNING PRESIDENT OF ECU TECHNOLOGY 174987 0 16297 0 35176 0 16315 0 18861 0 261636 0 0 0 JONATHAN SHURTZ EVP/ IN HOUSE COUNSEL 165231 0 14788 0 30445 0 16910 0 13534 0 240908 0 0 0 NOLAN WALTMAN CHIEF GROWTH OFFICER 142450 0 13811 0 45598 0 15150 0 18759 0 235768 0 0 0 RAFEAL BALDERRABANO CFS ADVISOR 202808 0 655 0 14682 0 2880 0 11802 0 232827 0 0 0 MICHAEL ALEXANDER FINANCIAL ADVISOR 216408 0 645 0 3144 0 2880 0 264 0 223341 0 0 0 TERI EDGE CHIEF OPERATING OFFICER 173016 0 13159 0 16522 0 15163 0 1359 0 219219 0 0 0 BRETT DESHAZO VP COMMERCIAL SERVICES 144629 0 0 0 0 0 12404 0 18062 0 175095 0 0 0 KERRY GRAHAM VP MARKETING 149186 0 0 0 0 0 11934 0 8156 0 169276 0 0 0 KEMA COCHRAN CONTROLLER 135259 0 0 0 0 0 8945 0 19301 0 163505 0 0 0 KENNETH DARNELL SVP IT 143747 0 0 0 9640 0 8400 0 1240 0 163027 0 0 0 PART I, LINE 1A GOLF CLUB MEMBERSHIP IS PROVIDED FOR THE CEO THAT IS USED PRIMARILY FOR BUSINESS USE, BUT THE CLUB ACCESS IS AVAILABLE FOR PERSONAL USE. THE PORTION USED FOR PERSONAL USE IS TAXED TO THE CEO. PART I, LINE 4B NAME: FRANK HALSTEAD, DESCRIPTION: 457(F) PLAN, CURRENT YEAR AMOUNT: $100,000. PLAN DESCRIPTION: 457(F) PLAN COMPENSATION NAME: DAVID BLEAZARD, DESCRIPTION: 457(F) PLAN, CURRENT YEAR AMOUNT: $42,531. PLAN DESCRIPTION: 457(F) PLAN COMPENSATION DAVID BLEAZARD PRESIDENT/CEO SPLIT DOLLAR X 10021666 10731603 0 1 1 JONATHAN SHURTZ EXECUTIVE VICE PRESIDENT SPLIT DOLLAR X 1199518 1262417 0 1 1 NOLAN WALTMAN CHIEF GROWTH OFFICER SPLIT DOLLAR X 1045533 1100359 0 1 1 TIM ADAMS SENIOR VICE PRESIDENT LENDING & COLLECTIONS SPLIT DOLLAR X 1900000 2407537 0 1 1 15501916 SCHEDULE L, PART II SPLIT DOLLAR LOANS ARE RECORDED ON THE BALANCE SHEET AT A VALUE OTHER THAN LOAN + ACCRUED INTEREST. LOAN + ACCRUED INTEREST BALANCE FOR EACH PARTICIPANT ARE SHOWN BELOW:1. DAVID BLEAZARD $10,603,1142. JONATHAN SHURTZ $1,266,5423. NOLAN WALTMAN $1,100,7074. TIM ADAMS $2,419,379 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. EACH MEMBER HAS ONE VOTE REGARDLESS OF THE AMOUNT OF SERVICES THEY HAVE WITH THE CREDIT UNION. 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 WE OFFER EACH BOARD MEMBER THE OPPORTUNITY TO REVIEW THE DOCUMENT PRIOR TO FILING. TYPICALLY, THE BOARD MEMBERS THAT ARE CPAS WOULD LIKE TO REVIEW, BUT RARELY OFFER COMMENTS. FORM 990, PART VI, SECTION B, LINE 12C THE EMPLOYEE HANDBOOK CLEARLY DEFINES WHEN A CONFLICT OF INTEREST ARISES AND REQUIRES EACH EMPLOYEE TO MAKE PROMPT AND FULL DISCLOSURE TO THE PRESIDENT/CEO OF ANY SITUATION THAT MAY INVOLVE AN EXISTING OR A POTENTIAL CONFLICT OF INTEREST. EMPLOYEES SIGN AN ACKNOWLEDGEMENT ANNUALLY STATING THAT THEY WILL REPORT ANY CONFLICTS OF INTEREST. ADDITIONALLY, EMPLOYEES ARE ENCOURAGED TO GO TO THE COMPLIANCE OFFICER FOR CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD HIRES AN INDEPENDENT COMPENSATION CONSULTANT TO CONDUCT A MARKET RATE ANALYSIS OF THE TOTAL COMPENSATION PACKAGE FOR THE CEO/PRESIDENT OF THE CREDIT UNION. THE BOARD REVIEWS THE CONSULTANT'S FINDINGS, DETERMINES AND APPROVES THE COMPENSATION PACKAGE FOR THE CEO/PRESIDENT. WE CONDUCT COMPENSATION SURVEYS FOR OTHER OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION IN ORDER TO DETERMINE PAY INCREASES BASED ON THE LEVEL OF RESPONSIBILITY WITHIN THE CREDIT UNION AND INDIVIDUAL JOB PERFORMANCE. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 DISCLOSED ON WEBSITE (WWW.FSCU.COM) - THE FOLLOWING DOCUMENTS ARE AVAILABLE FOR MEMBERS TO REVIEW BY CONTACTING THE CREDIT UNION IN WRITING & PROVIDING AN ADDRESS TO SEND THE REQUESTED INFORMATION: 1 - SUMMARY OF MOST RECENT ANNUAL AUDIT, 2 - BALANCE SHEET AND INCOME STATEMENT, 3 - IRS FORM 990, 4 - WRITTEN BOARD POLICY REGARDING ACCESS TO ARTICLES OF INCORPORATION, BYLAWS, RULES, GUIDELINES, BOARD POLICIES AND COPIES THEREOF. FORM 990, PART XI, LINE 9: EQUITY ACQUIRED IN MERGER 2,755,056. FORM 990, PART XII, LINE 2C NO CHANGES FROM PRIOR YEAR. ECU TECHNOLOGY LLC 16430 PARK TEN PLACE HOUSTON TX 77084 475036601 APPLICATION SERVICE PROVIDERS TX 1716847 2630040 FIRST SERVICE CREDIT UNION