2014-08-15T13:40:46-07:00 2013-12-31 990 2013-01-01 741255147 MCT CREDIT UNION MCTC 4097271446 PO Box 279 Port Neches TX 77651 Chad Powell Chief Financial Officer 4097271446 2014-08-06 2013 2015-11-30 17:44:51Z Chad Powell PO BOX 279 Port Neches TX 77651 14238756 0 X www.mctcu.org X 1953 TX To provide financial services, loan and deposit products that will meet needs and expectations of the field of membership and provide a fair and equitable return to the Credit Union. To grow the field of membership by aggressively pursuing all persons in need of financial products and services by continually enhancing products to better serve the field of membership. 11 11 93 11 0 0 0 0 13651477 13438940 321272 414256 0 0 13972749 13853196 0 0 0 0 5200634 5427756 0 0 0 7493813 7244554 12694447 12672310 1278302 1180886 216469215 222344809 197383836 201728567 19085379 20616242 To provide financial services, loan and deposit products that will meet needs and expectations of the field of membership and provide a fair and equitable return to the Credit Union. To grow the field of membership by aggressively pursuing all persons in need of financial products and services by continually enhancing products to better serve the field of membership. 0 0 The Credit Union had 1,576 new members join in 2013. The Credit Union opened 4,242 deposit accounts in 2013. The Credit Union offers a variety of deposit account options including share accounts, share draft accounts, money market accounts, Individual Retirement Accounts (IRA's), and certificate of deposit accounts with very competitive interest rates. The Credit Union has five branch locations as well as a shared branch program, a 24 hour call center, online banking and bill pay offered at no charge to the membership. The Credit Union offers consumer loans, mortgage loans and business loans to membership. The Credit Union granted 2,953 loans for 63,776,572 to its membership in 2013. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 1 0 0 1 7173 0 1 93 1 0 0 0 0 0 0 X 11 11 1 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X Chad Powell 4097271446 PO Box 279 Port Neches TX 77651 Randy Brown Director 1 0 X 0 0 16 Randy Chance Director 1 0 X 0 0 16 Peggy Delahoussaye Director 1 0 X 0 0 16 Rebecca Demeter Director 1 0 X 0 0 16 Yvonne Grimes Director 1 0 X 0 0 16 Michael Guidry Director 1 0 X 0 0 16 Michael Laird Director 1 0 X 0 0 16 Charles Lankford Director 1 0 X 0 0 16 Randy Lupton Director 1 0 X 0 0 16 James Myers Jr Director 1 0 X 0 0 16 Deborah Norris Director 1 0 X 0 0 16 Thad Angelle President/Chief Executive Officer 50.00 0 X 200307 0 41898 Mary Fadhli Executive Vice President 50 0 X X 153150 0 69420 Karen Frederick Controller 50 0 X 119061 0 11496 Chad Powell Chief Financial Officer 50 0 X 90726 0 23383 Michelene Moody Senior Vice President/Branch Executive 50 0 X 115670 0 29513 678914 0 175886 4 0 1 0 Construction Zone of Southeast Texas LLC 3004 Nederland Avenue Nederland TX 77627 General Construction 1457803 Fiserv 75 Remittance Drive Suite 6942 Chicago IL 606756942 Data Processing 509831 American National Insurance PO Box 696785 San Antonio TX 782696785 Credit Life and Disability 500696 Third Degree Advertising and Communications 501 N Walker Oklahoma City OK 73102 Marketing Serivces 365938 TransFund PO Box 2300 Tulsa OK 74102 Debit Card Processing 359115 16 0 Real Estate Lending Income 522130 4141559 4141559 0 0 Consumer Lending Income 522130 3943423 3943423 0 0 Member Service Fees 522130 1890158 1890158 0 0 Commercial Loan Income 522130 1309190 1309190 0 0 Debit Charge Interchange Income 522130 1209288 1209288 0 0 945322 945322 0 0 13438940 329821 329821 0 0 0 0 0 0 0 0 0 0 0 0 0 469995 0 385560 0 84435 84435 84435 0 0 0 13853196 13853196 0 0 0 0 0 0 854800 3350293 464195 455346 303122 25125 11640 44110 978678 597709 1766810 273890 453680 168453 13 23762 458143 58257 Interest and Dividends to Members 1724813 Loan Servicing Expense 251193 Allowance for Loan Loss Expense 215800 Deposit Insurance Assessment 148691 43787 12672310 0 0 0 2371276 2229864 19767755 16065156 1204263 1002731 1255656 155179843 155149654 174528 288087 13097213 4529997 7184586 8567216 23154363 31762904 7432601 6023541 216469215 222344809 2143161 4507142 195240675 197221425 197383836 201728567 X 0 0 0 0 19085379 20616242 19085379 20616242 216469215 222344809 X 1180886 -50849 0 0 0 400826 X 1 X 1 X 1 0 0 1293571 1293571 0 9165325 2393309 6772016 0 0 0 0 0 2638317 2136688 501629 0 0 0 0 8567216 Deposits in Banks and Credit Unions 24982000 C Available for Sale Government Agency Securities 5922080 F Held to Maturity Government Agency Securities 858824 C 31762904 Member Share Draft Accounts 72534360 Member Share Accounts 71211550 Member Certificate Accounts 29627991 Member Individual Retirement Accounts 11935865 Member Money Market Accounts 11911659 197221425 X X 1 1 X X X X 0 1 0 Thad Angelle President/Chief Executive Officer 174752 0 25279 0 0 0 18447 0 23451 0 241929 0 0 0 Mary Fadhli Executive Vice President 132319 0 21645 0 0 0 62363 0 7057 0 223384 0 0 0 Schedule J, Part I, Line 1a MCT Credit Union pays for the travel of companions for the Chief Executive Officer and the Board of Directors when attending a conference or meeting. MCT Credit Union pays the dues at two social clubs. Both of the clubs are under the Chief Executive Officer's name and are primarily used to conduct Credit Union business. Schedule J, Part I, Line 3 MCT Credit Union uses several methods to determine the compensation of key employees and officers. The Credit Union's Board of Directors appoints a compensation committee to review employess compensation and make recommedations to the Board of Directors. The compensation comittee uses salary surveys from CUNA Mutual Group as well as other industry resources. The compensation committee also uses Compease, a compensation consulting software. The program takes several factors into account such as specific job responsibilities and local market conditions when determing recommended compensation. Once the compensation committee has a recommendation, it is presented to the Board of Directors for approval. Schedule J, Part I, Line 4 Thad Angelle has a loan regime spilt-dollar plan. The Credit Union's asset value on 12.31.13 was $1,263,242. The loan balance was $1,291,268. The Credit Union has a 457(f) plan for Mary Fadhli scheduled to pay after completion of service on 1/1/2023 in the amount of $300,000. The Credit Union has a 457(f) plan for Chad Powell scheduled to pay after completion of service on 1/1/2025 in the amount of $150,000. Thad Angelle President/CEO Loan Regime Spilt Dollar X 1226446 1255656 0 1 1 1255656 Discovery Information Technologies Inc Owner, Adam Fadhli is the spouse of Mary Fadhli 350606 Information Technology Support and Equipment 0 Form 990, Part VI, Section A, Line 2 Yvonne Grimes, Director, is the mother of Rebecca Dememter, Director. Form 990, Part VI, Section A, Line 6 The Credit Union has members who each own a share of the Credit Union. The members of the Credit Union elect the governing body and approve any significant decisions of the governing body as directed in the Credit Union's by-laws. Form 990, Part VI, Section A, Line 7a The Credit Union has members who each own a share of the Credit Union. The members of the Credit Union elect the governing body and approve any significant decisions of the governing body as directed in the Credit Union's by-laws. Form 990, Part VI, Section A, Line 7b The Credit Union has members who each own a share of the Credit Union. The members of the Credit Union elect the governing body and approve any significant decisions of the governing body as directed in the Credit Union's by-laws. Form 990, Part VI, Section B, Line 11b Form 990 is available to the Board of Directors for review at the regulary scheduled monthly meeting. Form 990, Part VI, Section B, Line 12c MCT Credit Union monitors the conflict of interest policy by requiring all employees to report the potential conflicts of interest to management. Officers and key employees must report conflicts of interest to the Chief Executive Officer. The Chief Executive Officer and any member of the Board of Directors must report any potential conflicts of interest to the Board chairman. Form 990, Part VI, Section B, Line 15 MCT Credit Union uses several methods to determine the compensation of key employees and officers. The Credit Union's Board of Directors appoints a compensation committee to review employess compensation and make recommedations to the Board of Directors. The compensation comittee uses salary surveys from CUNA Mutual Group as well as other industry resources. The compensation committee also uses Compease, a compensation consulting software. The program takes severalfactors into account such as specific job responsibilities and local market conditions when determing recommended compensation. Once the compensation committee has a recommendation, it is presented to the Board of Directors for approval. Form 990, Part VI, Section C, Line 19 MCT Credit Union will provide copies of the governing documents and conflict of interest policy upon request. MCT Credit Union post the balance sheet in the lobby of each branch location monthly. The Credit Union also publishes the yearly financial statements in an annual report to the membership. Form 990, Part XI, Line 9 The Credit Union's other comprehensive income account increased $400,826 in 2013 due to the performance of the defined benefit plan. Mid County Teachers' CUSO Inc PO Box 279 Port Neches TX 77651 760561938 None (Idle) TX MCT Credit Union C 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0