2014-11-13T15:51:03-06:00 2013-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2013-01-01 340153020 THE OHIO EDUCATIONAL CREDIT UNION INC OHIO 2166216296 2554 EAST 22ND STREET CLEVELAND OH 44115 ARTHUR BOEHM CFO 2166216296 2014-11-12 1 JOSEPH A ZITO CPA P00648440 2482443000 2013 2015-11-30 17:44:51Z JEROME VALCO 2554 EAST 22ND STREET CLEVELAND OH 44115 19025129 0 1990 X WWW.OHECU.COM X 1933 OH THE OHIO EDUCATIONAL CREDIT UNION IS A FULL-SERVICE FINANCIAL INSTITUTION. OUR GOAL IS TO RECOGNIZE AND UNDERSTAND THE UNIQUE NEEDS OF OUR INDIVIDUAL MEMBERS AND TO FULFILL THOSE NEEDS THROUGH A VARIETY OF DIVERSIFIED PRODUCTS AND SERVICES. 10 10 56 10 82741 -3245 0 0 6350222 6477148 306833 262254 179418 149648 6836473 6889050 0 0 0 0 2721479 2703105 0 0 0 4613158 4821491 7334637 7524596 -498164 -635546 121056603 121017466 111133970 111928528 9922633 9088938 BUILDING OUR MEMBER'S FINANCIAL FUTURE THROUGH A FULL RANGE OF SUPERIOR FINANCIAL SERVICES, EDUCATION, AND EXCEPTIONAL VALUE. 0 0 THE CREDIT UNION PROVIDES ITS MEMBERS WITH CONSUMER LOAN PRODUCTS, WHICH INCLUDE, VEHICLE, SIGNATURE, CREDIT CARD, AND PRIVATE STUDENT LOANS. THE CREDIT UNION ALSO OFFERS REAL ESTATE LOANS TO ITS MEMBERS, INCLUDING FIRST MORTGAGE, SECOND MORTGAGE, AND HOME EQUITY LINES OF CREDIT. THE CREDIT UNION PROVIDES MEMBERS WITH TRANSACTION SHARE ACCOUNT SERVICES, WHICH INCLUDES SHARE DRAFT CHECKING, SHARE SAVINGS AND MONEY MARKET SHARE ACCOUNTS. TRANSACTION SHARE ACCOUNT PRODUCTS ENABLE MEMBERS TO CONDUCT THEIR DAY TO DAY FINANCIAL NEEDS WITH CONVENIENT SERVICES OF CASH, DIRECT DEPOSIT, CHECKS, ATM'S, DEBIT CARDS, ACH, AUDIO RESPONSE, ONLINE BANKING AND BILL PAYMENT. THE CREDIT UNION PROVIDES TERM SAVINGS PRODUCTS TO ITS MEMBERS, WHICH INCLUDES IRA AND SHARE CERTIFICATES. CERTIFICATE TERMS RANGE FROM THREE MONTHS TO FIVE YEARS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2591 0 1 56 1 1 1 0 0 0 0 0 X 10 10 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X ARTHUR BOEHM 2166216296 2554 EAST 22ND STREET CLEVELAND OH 44115 RICHARD M GORE DIRECTOR 2.00 X 0 0 0 ROBERT J GALE DIRECTOR 2.00 X 0 0 0 JACKSON M BOYD BOARD VICE PRESIDENT 4.00 X X 0 0 0 TONY H SMITH SR BOARD PRESIDENT 10.00 X X 0 0 0 CAROL CREEL DIRECTOR 2.00 X 0 0 0 MARIO DANESE BOARD TREASURER 4.00 X X 0 0 0 MARK BATES DIRECTOR 2.00 X 0 0 0 MYCHAEL HENDERSON BOARD SECRETARY 4.00 X X 0 0 0 JAMES DRNEK LEFT 8-21-13 DIRECTOR 2.00 X 0 0 0 MELODY PATTERSON DIRECTOR 2.00 X 0 0 0 PATRICK J POLEN DIRECTOR 2.00 X 0 0 0 JEROME R VALCO CEO 40.00 X 114520 0 18864 ROBERT C BECKER COO 40.00 X 112524 0 16329 ARTHUR D BOEHM CFO 40.00 X 119020 0 3781 346064 0 38974 3 0 0 0 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT AND DEBIT CARD PROCESSING 544197 XP SYSTEMS (FISERV) 75 REMITTANCE DRIVE CHICAGO IL 606756963 CORE COMPUTER SYSTEM PROVIDER 223055 DIGITAL INSIGHT 1300 SEAPORT BLVD SUITE 300 REDWOOD CITY CA 94063 ONLINE BANKING 193435 DUNBAR PITCHER & ASSOCIATES 398 W BAGLEY ROAD 210 BEREA OH 44017 MARKETING AGENCY 108763 BRIDGESTONE AMERICAS INC 23715 NETWORK PLACE CHICAGO IL 606731657 STATEMENT PROCESSOR 104363 5 LOAN INTEREST 522100 3439741 3439741 FEE INCOME 522100 3037407 3037407 6477148 262254 262254 12126104 9975 12126104 9975 0 0 MISCELLANEOUS INCOME 522100 66907 66907 INSURANCE INCOME 524298 45786 45786 NON-MEMBER ATM FEES 525990 36955 36955 149648 6889050 6544055 82741 262254 385038 1811594 12685 323687 170101 26292 66225 254596 486782 606093 40900 259013 250401 44250 PROVISION FOR LOAN LOSS 837453 DATA PROCESSING 519524 ATM EXPENSES 440868 OTHER EXPENSES 255298 733796 7524596 5564862 5865960 5709303 12967043 318701 232067 85886343 80338096 373433 380117 7678120 4645020 3190439 3033100 1656522 3570169 16435841 12502246 1921159 2128668 121056603 121017466 649665 656983 110484305 111271545 111133970 111928528 X 3699194 3699194 0 0 6223439 5389744 9922633 9088938 121056603 121017466 -635546 -198149 0 X X 0 1 X 1 0 294508 294508 3678559 1416281 2262278 582703 395719 186984 2939021 2703343 235678 183329 129677 53652 3033100 MORTGAGE BACKED SECURITIES 3153297 F ASSET BACKED SECURITIES 1908093 F CORP CU CAPITAL INVESTMENTS 2232960 F CMO 5207896 F 12502246 MEMBER SHARE ACCOUNTS 111271545 111271545 X 6889050 0 6889050 0 6889050 7524596 0 7524596 0 7524596 PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES; ACCORDINGLY, NO INCOME TAX EXPENSE IS REFLECTED IN THE STATEMENTS OF OPERATIONS FOR THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 6 ANY INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS CONSIDERED A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER IS GIVEN ONE VOTE TO ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO THE ARTICLES AND/OR BYLAWS OF THE CREDIT UNION REQUIRE APPROVAL OF THE MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11 A COPY OF FORM 990 WILL BE PROVIDED TO THE BOARD OF DIRECTORS (GOVERNING BODY) PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE VIA THE CREDIT UNION'S ELECTRONIC BOARDROOM SITE. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL CONFLICT OF INTEREST QUESTIONNAIRES ARE COMPLETED BY DIRECTORS AND KEY OFFICERS OF THE ORGANIZATION TO IDENTIFY ANY POSSIBLE CONFLICTS OF INTEREST. AT THE BEGINNING OF EACH MONTHLY BOARD OF DIRECTOR MEETING, DIRECTORS ARE REQUESTED TO DISCLOSE ANY CONFLICTS OF INTEREST WITH THE AGENDA ITEMS FOR THAT RESPECTIVE BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 15 INDEPENDENT COMPENSATION SURVEY DATA IS OBTAINED FOR EACH POSITION. BOARD PERSONNEL COMMITTEE USES THIS INFORMATION IN CONJUNCTION WITH JOB PERFORMANCE RATINGS TO DETERMINE THE COMPENSATION FOR THE CEO. THE CEO PROVIDES INPUT FOR COO AND CFO COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC. FORM 990; PART XII, LINE 2C: WE HAVE A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. OUR PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.