2014-09-04T03:53:31-00:00 2013-12-31 ORTH CHAKLER MURNANE AND CO CPAs 12060 SW 129 COURT SUITE 201 MIAMI FL 33186 990 2013-01-01 741109927 COMMUNITY RESOURCE CREDIT UNION COMM 2814223611 2900 DECKER DRIVE BAYTOWN TX 775202027 DEENA SMITH CFO 2014-09-03 true DOUGLAS ORTH 3052328272 2014-09-03 2013 2015-11-30 17:44:51Z RUSSELL BALLARD 2900 DECKER DRIVE BAYTOWN TX 77520 21255809 false 2742 X WWW.CRCU.ORG X CREDIT UNION 1935 TX TO HELP OUR MEMBERS ACHIEVE FINANCIAL WELL-BEING THROUGH A LIFETIME PARTNERSHIP BY PROVIDING EXCEPTIONAL SERVICE QUALITY PRODUCTS. WE ARE A CREDIT UNION THAT PROVIDES MEMBER SERVICE FOR LOANS AND SHARES. 9 9 176 12 105671 53712 0 19621664 20096278 1655926 1159531 0 21277590 21255809 0 0 7575389 8543622 0 0 11717598 12035509 19292987 20579131 1984603 676678 305918280 329236688 277772328 300871187 28145952 28365501 TO HELP OUR MEMBERS ACHIEVE FINANCIAL WELL-BEING, THROUGH A LIFETIME PARTNERSHIP BY PROVIDING EXCEPTIONAL SERVICE AND QUALITY PRODUCTS. false false SHARE ACCOUNTS COMMUNITY RESOURCE CREDIT UNIONS SHARE ACCOUNTS OFFER ADVANTAGES TO MEMBERS OF ALL AGES. THE CREDIT UNION HAD 34,958 MEMBER-OWNER ACCOUNTS ON DECEMBER 31, 2013. MEMBER SAVINGS ACCOUNTS PAY DIVIDENDS MONTHLY AND OFFER ACCESS THROUGH THE BRANCH NETWORK, HOME BANKING VIA THE INTERNET OR TELEPHONE AND ATMs WORLDWIDE. false false false false false false false false false true false false false true true true false false false false false false false false false false false false true false false false false false false false false false false false false false false true 9501 0 true 176 true true true false false false false false X 9 9 false false false false true true true true true false false false true true true false true true true false X DEENA SMITH 2814203718 2900 DECKER DRIVE BAYTOWN TX 775202027 D OSTERHUS CHAIRMAN 001.00 001.00 X 0 0 0 R SANDERS V. CHAIRMAN 001.00 001.00 X 0 0 0 W GRAY TREASURER 001.00 001.00 X 0 0 0 C TILTON BOARD MEMBER 001.00 001.00 X 0 0 0 J CAGLE-PAGE BOARD MEMBER 001.00 001.00 X 0 0 0 T MASTERS BOARD MEMBER 001.00 001.00 X 0 0 0 T COUGLEN BOARD MEMBER 001.00 001.00 X 0 0 0 PR DAWSON BOARD MEMBER 001.00 001.00 X 0 0 0 R DEHOYOS BOARD MEMBER 001.00 001.00 X 0 0 0 D FRAZIER CEO/PRESIDENT 040.00 040.00 X 253943 0 29576 R BALLARD EXECUTIVE VP 040.00 040.00 X 155782 0 30115 D SMITH CFO 040.00 040.00 X 122109 0 8862 D FIGUEROA SR NETWORK ADMINISTRATOR 040.00 040.00 X 109906 0 12822 M GLASSCO SR. SYSTEMS ENGINEER 040.00 040.00 X 115518 0 17258 R HEAD SR. VP FINANCIAL ADVISOR 040.00 040.00 X 239884 0 50119 T HUDSON VP INFORMATION TECHNOLOGY 040.00 040.00 X 131744 0 18713 S MCKINZIE SVP OF PROJECTS 040.00 040.00 X 111322 0 41818 1240208 209283 8 false true false MIAMI COMPUTER PRODUCTS & CONSULTING PO BOX 643283 PITSSBURGH PA 15264 COMPUTER EQUIPMENT 621661 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 CUS CORE SYSTEM 470550 DIGITAL INSIGHT CORPORATION PO BOX 515306 LOS ANGELES CA 90051 HOME BANKING 588074 FISERV 75 REMITTANCE DR SUITE 6974 CHICAGO IL 606756974 DEBIT CARD PROCESSOR 321371 VANTIV LLC 8500 GOVERNORS HILL DR SYMMES TOWNSHIP OH 45249 DEBIT/CREDIT CARD PROCESSOR 316010 13 INTEREST ON LOANS 522100 12295698 12295698 FEES/OTHER CHARGES 522100 7694909 7694909 UNRELATED BUSINESS INCOME TAX 900099 105671 105671 20096278 1159531 1159531 21255809 21150138 105671 0 0 0 0 600387 600387 0 6298713 6298713 506371 506371 579097 579097 559054 559054 0 65680 65680 34121 34121 0 0 1155366 1155366 611872 611872 860666 860666 225643 225643 611152 611152 0 33479 33479 0 182814 182814 1612908 1612908 52361 52361 1001601 1001601 149383 149383 SEE ATTACHED SCHEDULE 5438463 5438463 0 20579131 20579131 9732925 5893204 20427917 16309750 2514862 5421590 193221167 222318033 6018715 5420269 31255595 13369319 13693830 17886276 54476496 49592361 120400 532700 5711968 5862505 305918280 329236688 1889455 2681077 10000000 275882873 288190110 277772328 300871187 X 28145952 28365501 28145952 28365501 305918280 329236688 X 676678 -275028 -182101 X false true X true false false 2769387 2769387 16661301 3890220 12771081 11824907 9479099 2345808 17886276 Financial derivatives and other financial products Closely-held equity interests Federal income taxes REGULAR SHARES 95277136 MONEY MARKET SHARES 18824866 SHARE DRAFT 105283686 IRA SHARES 14747012 IRA CD SHARES 8931393 CERTIFICATES OF DEPOSIT 45126017 288190110 X 21255809 21255809 21255809 20579131 20579131 20579131 X 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. 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 UPON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED IN INTERNAL REVENUE CODE IRC SECTION 501C14. AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME UBI DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE IRS RELEASED TECHNICAL ADVICE MEMORANDUMS TAMS TO SPECIFIC STATE-CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX UBIT. UBI MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. MANAGEMENT HAS ASSESSED THE CREDIT UNIONS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY AND DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2012, 2011, AND 2010 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS. THE FILING YEARS OPEN FOR EXAMINATION BY THE STATE, IF APPLICABLE, MAY BE EQUAL TO, GREATER THAN OR LESS THAN THE YEARS OPEN FOR EXAMINATION BY THE IRS. X true X X X false false false D FRAZIER CEO/PRESIDENT 208247 45000 696 22922 6654 283519 R BALLARD EXECUTIVE VP 135082 19703 997 24129 5986 185897 R HEAD SR. VP FINANCIAL ADVISOR 237904 1980 40687 9432 290003 T HUDSON VP INFORMATION TECHNOLOGY 124622 6725 397 12465 6248 150457 S MCKINZIE SVP OF PROJECTS 93290 15962 2070 35889 5929 153140 Part I Line 1A EXPENSES FOR DIRECTORS GUEST TRAVEL ARE REIMBURSABLE UP TO 600. Form 990, Part VI, Section A, Line 6 COMMUNITY RESOURCE CREDIT UNION IS A STATE CHARTERED CREDIT UNION WITH MEMBERS. Form 990, Part VI, Section A, Line 7A BOARD OF DIRECTORS IS THE GOVERNING BODY AND IS ELECTED ANNUALLY BY THE COMMUNITY RESOURCE CREDIT UNION MEMBERS. Form 990, Part VI, Section A, Line 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODYS 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 11A THE FORM 990 IS REVIEWED BY THE CEO AND THE CFO, WHO IS A CERTIFIED PUBLIC ACCOUNTANT. A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS. Form 990, Part VI, Section B, Line 12 WHEN EMPLOYEES ARE HIRED, THEY MUST ACKNOWLEDGE THEY HAVE READ EMPLOYEE POLICIES. THEY MUST SIGN AGAIN IF ANY CHANGES ARE MADE TO THE POLICIES. COMMUNITY RESOURCE CREDIT UNION OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE DIRECTED TO DISCLOSE TO THEIR DEPARTMENT HEAD AND THE HUMAN RESOURCES DEPARTMENT IF ANOTHER INTEREST COULD GIVE RISE TO CONFLICTS IN REGARDS TO OUR CONFLICT OF INTEREST POLICY. Form 990, Part VI, Section B, Line 15 CEO AND EXECUTIVE SALARIES ARE APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS. Form 990, Part VI, Section C, Line 19 OUR CONFLICT OF INTEREST POLICY IS CONTAINED IN THE EMPLOYEE HANDBOOK. THE CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. OUR FINANCIAL STATEMENTS ARE DISPLAYED IN THE LOBBY OF EACH OF OUR BRANCHES. Form 990, Part XI, Line 9 NET PENSION LOSSES OF 206,313 NET CUBS VALUATION GAIN OF 24,212 182,101