2014-12-03T17:37:08-06:00 2013-12-31 261694946 SCHWARTZ COLE AND ASSOCIATES LLC 11776 W SAMPLE RD STE 106 CORAL SPRINGS FL 330653180 990 2013-01-01 750992590 TEXANS CREDIT UNION TEXA 9723482000 777 EAST CAMPBELL RD RICHARDSON TX 75081 ANDREW SWOGER CFO 9723482000 2014-11-17 true DANIEL J COLE P00055998 9547551760 2014-12-03 2013 2015-11-30 17:44:51Z X KEVIN DURRANCE 777 EAST CAMPBELL RD RICHARDSON TX 75081 61058880 false X WWW.TEXANSCU.ORG X 1953 TX TEXANS CREDIT UNION IS A STATE CHARTERED CREDIT UNION FORMED UNDER THE STATE CREDIT UNION LAW AND THE CREDIT UNION IS MEMBER-OWNED COOPERATIVE THAT PROVIDES TRADITIONAL DEPOSIT AND LOAN PRODUCTS, AS WELL AS OTHER FINANCIAL SERVICES TO THE MEMBERSHIP. THE CREDIT UNIONS FOCUS IS TO IMPROVE THE ECONOMIC WELL-BEING OF OUR MEMBERS/OWNERS. 9 7 376 682538 -93215 0 60995516 53279675 7515750 7775303 0 68511266 61054978 0 3115355 12146658 14247133 0 0 32193075 20418971 44339733 37781459 24171533 23273519 1439440267 1424948101 1398804122 1377700110 40636145 47247991 X TEXANS CREDIT UNION IS A STATE CHARTERED CREDIT UNION FORMED UNDER THE STATE CREDIT UNION LAW AND THE CREDIT UNION IS MEMBER-OWNED COOPERATIVE THAT PROVIDES TRADITIONAL DEPOSIT AND LOAN PRODUCTS, AS WELL AS OTHER FINANCIAL SERVICES TO THE MEMBERSHIP. THE CREDIT UNIONS FOCUS IS TO IMPROVE THE ECONOMIC WELL-BEING OF OUR MEMBERS/OWNERS. false false 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 INCLUDES CERTIFICATES OF DEPOSIT, BOTH REGULAR MEMBER CERTIFICATES AND IRA CERTIFICATES. THE CERTIFICATES PAY INTEREST ON A MONTHLY BASIS. CHECKING ACCOUNTS: THE CREDIT UNION OFFERS A NUMBER OF CHECKING ACCOUNT PRODUCTS WITH VARYING FEATURES. THE OFFERS INCLUDE FREE CHECKING FOR THE MEMBER WHO WANTS NO SERVICE CHARGE, STUDENT CHECKING FOR THOSE MEMBERS ATTENDING SCHOOL, REWARD CHECKING FOR THOSE THAT LIKE TO MAINTAIN HIGHER BALANCES. MANY CHECKING ACCOUNTS HAVE FEATURES THAT INCLUDE ATM ACCESS, ACH AND WIRE SERVICES, DEBIT CARD ACCESS AS WELL AS ON-LINE ACCESS AND BENEFITS SUCH AS BILL PAY. false false false false false false false false false true false false false true true false true false false false false false false false false false false false true false false false false false false false false false false true true true false false true 31851 0 true 376 true true true false false false false false X 9 7 false false false false true true true true true false true true false true true true true true true true false X TRACY MONTEZ 9723482391 777 EAST CAMPBELL ROAD RICHARDSON TX 75081 JOHN KEVIN DURRANCE CEO 45.00 X 357109 0 0 CHARLOTTE MORRISON CIO 45.00 X 157984 0 0 ANDREW SWOGER CFO 45.00 X 156506 0 0 TANYA PATTERSON COO 45.00 X 155331 0 0 GREG TURNER CHIEF LENDIN 45.00 X 139348 0 0 MARK LOWTHER CRO 45.00 X 137731 0 0 TANYA MCCORQUODALE INTERIM CEO, 45.00 X 168014 0 0 KATHRYN VINES DIRECTOR OF 45.00 X 126973 0 0 TIFFANY CHISNALL DIRECTOR OF 45.00 X 120180 0 0 MICHAEL MCMILLAN DIRECTOR OF 45.00 X 113881 0 0 1633057 10 false true false FISERV 75 REMITTANCE DR SUITE 6974 CHICAGO IL 606756974 DEBIT CARD PROC 1700458 OPEN SOLUTIONS PO BOX 416564 BOSTON MA 02041 CORE SYS MAINT. 1608805 TW TELECOM PO BOX 172567 DENVER CO 802172567 TELEPHONY SERV 392459 PRESIDIO NETWORK SOLUTIONS PO BOX 677638 DALLAS TX 752677638 HARDWARE- CORE 357567 NCR CORPORATION 14181 COLLECTIONS CENTER DR CHICAGO IL 60693 ATM MAINT. 301038 22 INTEREST INCOME LOANS 30660712 30660712 OTHER INCOME 9281347 9281347 SERVICE CHARGES & FEES 6717751 6717751 GAIN ON REO DISPOSAL 4136367 4136367 LOAN FEES 1800960 1800960 682538 682538 53279675 7497063 7497063 282142 3902 282142 -3902 278240 278240 61054978 60372440 682538 3115355 1033833 10502111 265000 1387361 1058828 94830 920000 158937 484807 3496424 5888652 107358 886473 1127843 1080293 PROFESSIONAL SERVICES 5488417 LOAN SERVICING EXPENSE 1798851 LOSS ON SALE OF REO'S 1325426 OTHER OPERATING FEES 520955 -2960295 37781459 0 0 0 293850249 15339306 223927034 622978425 569910037 58816378 34312496 11152283 24503882 379633974 522112512 105621310 27898225 26204026 41257105 1439440267 1424948101 17220814 11856876 1381583308 1365843234 1398804122 1377700110 X 40636145 47247991 40636145 47247991 1439440267 1424948101 X 23273519 -16661673 X false true X true false 6049497 6049497 21264719 4473873 16790846 3632406 3561286 71120 27869756 26277337 1592419 24503882 MEMBER SHARES 1365843234 1365843234 X SCHEDULE D, PAGE 3, PART X THE FOLLOWING IS THE FOOTNOTE CONTAINED IN THE FINANCIAL STATEMENT AUDIT PREPARED BY THE INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS FOR THE YEAR ENDING 12/31/13. THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES. THE CUSO, HOWEVER, IS SUBJECT TO FEDERAL AND STATE INCOME TAXES. THE INTERNAL REVENUE SERVICE (IRS) HAS ISSUED A CLARIFICATION IN THE FORM OF A TECHNICAL ADVICE MEMORANDUM (TAMS) ON THE ISSUE OF UNRELATED BUSINESS INCOME TAX (UBIT). THE IRS HAS INDICATED THIS MEMORANDUM WILL CLARIFY ITS POSITION ON WHAT TYPES OF REVENUE ARE SUBJECT TO UBIT. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANY STATES HAVE SIMILAR LAWS RELATED TO VARIOUS ACTIVITIES CONDUCTED BY STATE-CHARTERED CREDIT UNIONS. AT THIS TIME, THERE IS UNCERTAINTY REGARDING WHETHER THE CREDIT UNION SHOULD PAY INCOME TAX ON CERTAIN TYPES OF NET TAXABLE INCOME FROM ACTIVITIES THAT MAY BE CONSIDERED BY TAXING AUTHORITIES AS UNRELATED TO THE PURPOSE FOR WHICH THE CREDIT UNION WAS GRANTED NONTAXABLE STATUS. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. MANAGEMENT HAS EVALUATED THE CREDIT UNION'S TAX POSITIONS AND CONCLUDED THAT THE CREDIT UNION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENTS TO THE FINANCIAL STATEMENTS. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES DEEMED TO BE UNRELATED TO THE CREDIT UNION'S NONTAXABLE STATUS IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. WHILE IT SEEMS LIKELY THAT CERTAIN INCOME STREAMS OF STATE CHARTERED CREDIT UNIONS WILL BE SUBJECT TO UBIT, THE ISSUE REMAINS OPEN. THE CREDIT UNION FILES IRS FORMS 990 AND 990T IN THE U.S. FEDERAL JURISDICTION AND HAS A DECEMBER 31 TAX YEAR END. X X X X false false false JOHN KEVIN DURRANCE CEO 306092 51017 17022 357109 CHARLOTTE MORRISON CIO 152424 3000 2560 14310 157984 ANDREW SWOGER CFO 152329 3500 677 11889 156506 TANYA PATTERSON COO 153216 1000 1115 12624 155331 TANYA MCCORQUODALE INTERIM CEO, CULS 163999 3250 765 13000 168014 FORM 990, PAGE 1, ITEM B ORIGINAL RETURN WAS MISSING KAY DATA ON VARIOUS SCHEDULES. THIS AMENDMENT CORRECTS THESE DIFFERENCES. FORM 990 - ORGANIZATION'S MISSION TEXANS CREDIT UNION IS A STATE CHARTERED CREDIT UNION FORMED UNDER THE STATE CREDIT UNION LAW AND THE CREDIT UNION IS MEMBER-OWNED COOPERATIVE THAT PROVIDES TRADITIONAL DEPOSIT AND LOAN PRODUCTS, AS WELL AS OTHER FINANCIAL SERVICES TO THE MEMBERSHIP. THE CREDIT UNIONS FOCUS IS TO IMPROVE THE ECONOMIC WELL-BEING OF OUR MEMBERS/OWNERS. FORM 990 ITEM 1, -ON APRIL 15, 2011 THE NATIONAL CREDIT UNION ASSOCIATION (NCUA) PLACED TEXANS CREDIT UNION INTO "CONSERVATORSHIP". UNDER THIS PROCESS THE EXISTING GOVERNING BOARD WAS REMOVED. NCUA IS THE GOVERNING BODY AFTER APRIL 15TH, 2011. ITEM 2, -EMPLOYEES ARE ELGIBILE FOR DISCOUNTS ON AUTO LOANS. THE DISCOUNT IS .5% BELOW THE APR. FORM 990, PAGE 6, PART VI, LINE 6 YES, THE CREDIT UNION HAS MEMBERS WHICH CAN JOIN THE CREDIT UNION IF THEY MEET THE "FIELD OF MEMBERSHIP" REQUIREMENTS, AND CHOOSE TO JOIN. FORM 990, PAGE 6, PART VI, 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, PAGE 6, PART VI, 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, PAGE 6, PART VI, LINE 11B THE COMPLETED FORM WILL BE REVIEWED BY THE TCU CEO. THE FORM WILL BE SIGNED BY THE CFO. FORM 990, PAGE 6, PART VI, LINE 12C THE EMPLOYEES OF THE ORGANIZATION ARE REQUIRED TO REVIEW AND ACKNOWLEDGE THE REVIEW OF THE POLICIES WHEN HIRED INTO THE ORGANIZATION. QUARTERLY COMMUNICATIONS ARE SENT TO EMPLOYEES NOTIFYING THEM OF ANY CHANGES TO THE POLICY. THE CREDIT UNION ALSO PROVIDES AN ANONYMOUS REPOTING HOT-LINE WHICH IS MAINTAINED BY A THIRD PARTY AND RESULTS ARE PROVIDED TO THE INTERNAL AUDIT FUNCTION. FORM 990, PAGE 6, PART VI, LINE 15A THE DIRECTOR OF HR PROVIDES COMPARATIVE DATA TO THE COMPENSATION OF COMMITTEE ON AN ANNUAL BASIS. THE COMP COMMITTEE WHICH IS MADE UP OF 3 MEMBERS OF THE BOARD OF DIRECTORS PREVIEWS THIS INFORMATION ANNUALLY AND DELIBERATES TO MAKE DETERMINATIONS REGARDING THE PERFORMANCE REVIEW PROCESS AND ANNUAL COMPENSATION CHANGES OF THE CEO. THEY ALSO, WHEN APPLICABLE, WILL PROVIDE OVERSIGHT AND APPROVAL OF ANY CREDIT UNION OFFICER'S BONUS PLAN. FORM 990, PAGE 6, PART VI, LINE 15B THE DIRECTOR OF HR PROVIDES COMPARATIVE DATA TO THE COMPENSATION COMMITTEE ON AN ANNUAL BASIS. THE COMP COMMITTEE WHICH IS MADE UP OF 3 MEMBERS OF THE BOARD OF DIRECTORS PREVIEWS THIS INFORMATION ANNUALLY AND DELIBERATES TO MAKE DETERMINATIONS REGARDING THE PERFORMANCE REVIEW PROCESS AND ANNUAL COMPENSATION CHANGES OFFICERS AND KEY EMPLOYEES. THEY ALSO, WHEN APPLICABLE, WILL PROVIDE OVERSIGHT AND APPROVAL OF ANY CREDIT UNION OFFICER'S BONUS PLAN. FORM 990, PAGE 6, PART VI, 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 XI NCUA CONTRIBUTION, SUBORDINATED DEBT SHOWN AS EQUITY 50,000,000 FORM 990, PART XI, LINE 9 CHANGE IN PENSION PLAN VALUATION 245,920 NCUA SUBORDINATED DEBT-REPAY 10,000,000 CHANGE IN MARKET VALUE SECURITIES 6,907,593 CREDIT UNION LIQUIDITY SERVICES 777 E CAMPBELL RD SUITE 650 RICHARDSON TX 75081 201118819 COMM LOANS TX 825339 43134829 TEXANS CU TEEKS2 LLC 777 E CAMPBELL RD SUITE 650 RICHARDSON TX 75081 264072375 PROP MGMT TX 1502 1556517 CULS CREDIT UNION LIQUIDITY SERVICES TEEKS3 LLC 777 E CAMPBELL RD SUITE 650 RICHARDSON TX 75081 270977806 PROP MGMT TX 43 CULS CREDIT UNION LIQUIDITY SERVICES TF-GSR LLC 777 E CAMPBELL RD SUITE 650 RICHARDSON TX 75081 264678354 PROP MGMT TX 4 145982 CULS CREDIT UNION LIQUIDITY SERVICES TF-HARBOR LLC 777 E CAMPBELL RD SUITE 650 RICHARDSON TX 75081 273619320 PROP MGMT TX 1163568 10981789 CULS CREDIT UNION LIQUIDITY SERVICES TF-TPP LLC 777 E CAMPBELL RD SUITE 650 RICHARDSON TX 75081 270969995 PROP MGMT TX 12 1816389 CULS CREDIT UNION LIQUIDITY SERVICES TF STEVENS RANCH 777 E CAMPBELL RD SUITE 650 RICHARDSON TX 75081 252501972 PROP MGMT TX 55 CULS CREDIT UNION LIQUIDITY SERVICES TF CROWN POINT 777 E CAMPBELL RD SUITE 650 RICHARDSON TX 75081 272416903 PROP MGMT CO 63 38523 CULS CREDIT UNION LIQUIDITY SERVICES TF HEIGHTS OF KERVILLE LLC 777 E CAMPBELL RD SUITE 650 RICHARDSON TX 75081 273037301 PROP MGMT TX 2 CULS CREDIT UNION LIQUIDITY SERVICES TF-LINCOLN MALL LLC 777 E CAMPBELL RD SUITE 650 RICHARDSON TX 75081 274356028 PROP MGMT IL 14487 553810 CULS CREDIT UNION LIQUIDITY SERVICES TF-GREEN HILLS LLC 777 E CAMPBELL RD SUITE 650 RICHARDSON TX 75081 452885495 PROP MGMT TX 56 CULS CREDIT UNION LIQUIDITY SERVICES TF-CASSIDY RIDGES LLC 777 E CAMPBELL RD SUITE 650 RICHARDSON TX 75081 800797616 CO 23 27756 CULS CREDIT UNION LIQUIDITY SERVICES TF-UNIVERSE LLC 777 E CAMPBELL RD SUITE 650 RICHARDSON TX 75081 371693261 TN 1135629 8370330 CULS CREDIT UNION LIQUIDITY SERVICES TEXANS CUSO PARTNERS 777 E CAMPBELL RD SUITE 600 RICHARDSON TX 75081 020792757 INSURANCE TX TEXANS CU C CORP 1.00000 false false false false false false false false false false false false false false false false false false false false SCHEDULE R CULS LISTED UNDER DIRECT CONTROLLING ENTITY (PART 1, (F)) REFERS TO CREDIT UNION LIQUIDITY SERVICES EIN 20-1118819