2014-08-14T09:55:28-00:00 2013-12-31 ORTH CHAKLER MURNANE AND CO CPAs 12060 SW 129 COURT SUITE 201 MIAMI FL 33186 990 2013-01-01 586032554 LGE COMMUNITY CREDIT UNION LGEC 7704240060 430 COMMERCE PARK DRIVE MARIETTA GA 30060 CANDICE BRACEWELL SVPCFO 2014-08-14 true DOUGLAS ORTH 3052328272 2014-08-14 2013 2015-11-30 17:44:51Z CHRIS LEGGETT 430 COMMERCE PARK DRIVE MARIETTA GA 30060 58861174 false 3804 X WWW.LGECCU.ORG X CREDIT UNION 1951 GA PROVIDE SAVINGS AND LENDING ACTIVITIES TO MEMBER OWNERS OF THE COOPERATIVE. 9 9 232 13 25068 -99454 0 40367025 41262243 2314036 1928676 28500 28500 42709561 43219419 0 0 14143619 14796777 0 0 22306125 20255933 36449744 35052710 6259817 8166709 888782168 954320327 791404531 849986274 97377637 104334053 PROVIDE SAVINGS AND LENDING ACTIVITIES TO MEMBER OWNERS OF THE COOPERATIVE. false false INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM INVESTMENT OF MEMBERS FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. 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 false false false false false true 22346 0 true 232 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 CANDICE D BRACEWELL 7704240060 430 COMMERCE PARK DRIVE MARIETTA GA 30060 D BRAUND DIRECTOR EMERITUS 001.00 X 0 0 0 M BROCK VICE CHAIR 001.00 X 0 0 0 R DIXON CHAIR 001.00 X 0 0 0 E HARRELL DIRECTOR 001.00 X 0 0 0 A KASSIS DIRECTOR 001.00 X 0 0 0 F MYERS TREASURER 001.00 X 0 0 0 R ROBERTS DIRECTOR EMERITUS 001.00 X 0 0 0 M SANSEVIRO DIRECTOR 001.00 X 0 0 0 DR P THOMAS DIRECTOR EMERITUS 001.00 X 0 0 0 S WALLS SECRETARY 001.00 X 0 0 0 J AUSTIN DIRECTOR 001.00 X 0 0 0 M CAGLE DIRECTOR 001.00 X 0 0 0 C LEGGETT CEO 040.00 X 309618 0 47261 C BRACEWELL CFO 040.00 X 205941 0 30036 H BRANCH III COO 040.00 X 200745 0 30502 S STANFIELD CAO 040.00 X 175111 0 33239 L KING CTO 040.00 X 176404 0 39681 S TILLERY VP LENDING 040.00 X 147634 0 26788 J KINNEY VP/RETAIL SALES 040.00 X 144647 0 35923 W SHAW VP COOPERATE SERVICES 040.00 X 114411 0 27472 M FARSINEJAD VP INFORMATION TECHNOLOGY 040.00 X 115629 0 23732 JC WAGNER VP/HUMAN RESOURCES 040.00 X 120830 0 32694 1710970 327328 10 false true false VISA DPS (ACH) PO BOX 8999 SAN FRANCISCO CA 94128 CARD PROCESSING 488160 JACK HENRY ASSOCIATES INC PO BOX 503328 ST LOUIS MO 63150 CORE SYSTEM MAINTENANCE EXPENSES 462502 PSCU FINANCIAL SVCS 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CALL CENTER MEMBER SUPPORT 588648 CONSULTANTS & BUILDERS INC 3100 MEDLOCK BRIDGE ROAD SUITE 420 NORCROSS GA 30071 GENERAL CONTRACTORS 775821 CASH TRANSACTIONS LLC 3286 HUMPRIES HILL ROAD AUSTELL GA 30106 ATM SERVICE PROVIDER 390076 8 INCOME ON LOANS 522100 26945903 26945903 FEE/OTHER INCOME 522100 14291272 14291272 UBIT REVENUE 524298 25068 25068 41262243 1952894 1952894 28500 28500 28500 28500 15076250 541287 15000000 641755 76250 -100468 -24218 -24218 43219419 43194351 25068 0 0 0 0 1248538 1248538 0 9077394 9077394 885883 885883 2765734 2765734 819228 819228 0 92133 92133 280910 280910 0 0 420554 420554 996385 996385 6401348 6401348 0 0 1216608 1216608 273957 273957 0 0 4647806 4647806 137917 137917 1713201 1713201 151276 151276 PROVISION FOR LOAN LOSSES 1364283 1364283 CASH SHORT/OVER 869 869 LOAN SERVICING 1960081 1960081 OTHER LOSSES NOT RELATED TO SALES 598605 598605 0 35052710 35052710 4509891 4891119 37796280 37515833 3940000 4606709 599074667 631536982 527472 541674 38939454 25733352 14795175 13206102 185282644 217252724 7402632 9287093 35453407 35482091 888782168 954320327 3963858 4343749 50000000 65000000 737440673 780642525 791404531 849986274 X 97377637 104334053 97377637 104334053 888782168 954320327 8166709 -1210293 X false true X true false false 4311563 4248002 18323895 11719057 6604838 2762537 1623339 1139198 13541459 12327395 1214064 13206102 Financial derivatives and other financial products Closely-held equity interests Federal income taxes REGULAR SHARES 286251380 MONEY MARKETS 113963003 CERTIFICATES IRA CERTIFICATES 141684946 SHARE DRAFTS 213747383 IRAS 24436086 HEALTH SAVINGS 559727 780642525 X X 2 THE CREDIT UNION IS EXEMPT BY STATUTE FROM INCOME TAXES. THE CUSO IS ORGANIZED AS A LIMITED LIABILITY COMPANY AND IS A DISREGARDED ENTITY FOR FEDERAL INCOME TAX PURPOSES. NET INCOME OF THE CUSO IS REPORTED BY THE CREDIT UNION AS UNRELATED BUSINESS INCOME. THE 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 UNIONS 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 UNIONS NONTAXABLE STATUS IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNIONS 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 FORM 990 IN THE U.S. FEDERAL JURISDICTION AND HAS A DECEMBER 31 TAX YEAR END. X X X false true false C LEGGETT CEO 296118 13500 26740 20521 356879 C BRACEWELL CFO 157554 48387 21027 9009 235977 H BRANCH III COO 169001 31744 22025 8477 231247 S STANFIELD CAO 133393 41718 19524 13715 208350 L KING CTO 150825 25579 20647 19034 216085 S TILLERY VP LENDING 134247 13387 18073 8715 174422 J KINNEY VP/RETAIL SALES 131260 13387 17148 18775 180570 JC WAGNER VP/HUMAN RESOURCES 109828 11002 14224 18470 153524 Part I Line 4b TWO INDIVIDUALS PARTICIPATED IN A 457F PLAN DURING 2013. NO CONTRIBUTIONS WERE MADE TO EITHER OF THESE EMPLOYEES ACCOUNTS. H. BRANCH - 53,118 BALANCE AS OF 12/31/13 C. BRACEWELL - 92,957 BALANCE AS OF 12/31/13. Form 990, Part VI, Section A, Line 6 THE ORGANIZATION HAS MEMBERS. Form 990, Part VI, Section A, Line 7A THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS. Form 990, Part VI, Section B, Line 11 LGECCU ENGAGED A PAID PREPARER, ORTH, CHAKLER, MURNANE AND CO., CPAs, TO COMPLETE OUR FORM 990 FILING. UPON COMPLETION OF THE RETURN, IT WAS REVIEWED AND APPROVED BY EXECUTIVE MANAGEMENT. Form 990, Part VI, Section B, Line 12C LGECCU MAINTAINS A CONFLICT OF INTEREST POLICY WITHIN ITS CODE OF ETHICS. THIS POLICY IS ENFORCED AT ALL TIMES AND REVIEWED PERIODICALLY BY OUR INTERNAL AUDIT DEPARTMENT. Form 990, Part VI, Section B, Line 15A LGECCU USES SURVEY DATA DURING AN ANNUAL REVIEW PROCESS TO DETERMINE THE REASONABLENESS OF ALL COMPENSATION AND BENEFITS. Form 990, Part VI, Section B, Line 15B THE REVIEW OF THE CEOS COMPENSATION IS A FUNCTION OF THE BOARD OF DIRECTORS. ANNUALLY, THE BOARD USES AN EXECUTIVE COMPENSATION SURVEY FROM AN INDEPENDENT THIRD PARTY TO DETERMINE THE CEOS COMPENSATION. FOR ALL OTHER POSITIONS IN THE ORGANIZATION, PAY RANGES ARE REVIEWED AND APPROVED ON AN ANNUAL BASIS BY THE BOARD OF DIRECTORS UTILIZING DATA FROM AN INDEPENDENT COMPENSATION STUDY. Form 990, Part VI, Section C, Line 19 THE CREDIT UNIONS GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNIONS CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNIONS FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON NCUA.GOV VIA THE QUARTERLY 5300 FILING. 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. LGE INSURANCE SERVICES LLC 430 COMMMERCE PARK DR MARIETTA GA 30060 272540699 INSURANCE SALES GA 546662 626320 LGECCU