2014-11-14T07:00:01-00:00 2013-12-31 ORTH CHAKLER MURNANE AND CO CPAs 12060 SW 129 COURT SUITE 201 MIAMI FL 33186 990 2013-01-01 540674170 UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION INC UNIV 4349642001 3300 BERKMAR DRIVE CHARLOTTESVILLE VA 22901 PAMELA TURNER SVPCFO 2014-11-06 true DOUGLAS ORTH 3052328272 2014-11-06 2013 2015-11-30 17:44:51Z ALISON DETUNC Q 3300 BERKMAR DRIVE CHARLOTTESVILLE VA 22901 32523122 false X WWW.UVACREDITUNION.ORG X 1954 VA SEE SCHEDULE O 43 11 205 16 54669 5074 0 25948880 21810485 5452137 5361858 56901 4792722 31457918 31965065 0 0 9556148 10113868 0 0 16103764 15961602 25659912 26075470 5798006 5889595 633881352 655337968 561983723 586893586 71897629 68444382 THE MISSION OF THE UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION, INC. IS TO 1 ENCOURAGE THRIFT AMONG MEMBERSHIP, THUS CREATING A LENDABLE POOL OF FUNDS 2 MAKE MEMBER LOANS AT A REASONABLE RATE OF INTEREST 3 PAY A FAIR RATE OF RETURN ON MEMBER SAVINGS 4 PROVIDE HELPFUL MEMBER FINANCIAL SERVICE. false false DURING 2013, UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION, INC., A STATE-CHARTERED CREDIT UNION LOCATED IN CENTRAL VIRGINIA, PROVIDED FINANCIAL SERVICES TO MEMBERS WHO LIVE, WORK, OR ATTEND SCHOOL IN THE CITY OF CHARLOTTESVILLE AND THE SURROUNDING COUNTIES OF ALBEMARLE, FLUVANNA, GREENE, LOUISA, MADISON, NELSON, AND ORANGE. THE CREDIT UNION CONTINUED TO FULFILL ITS EXEMPT PURPOSE BY PROVIDING CREDIT AT FAIR AND REASONABLE RATES OF INTEREST, OFFERING COMPETITIVE SHARE DEPOSIT PRODUCTS, AND PROVIDING MEMBERS WITH THE OPPORTUNITY TO IMPROVE THEIR ECONOMIC CONDITION. DURING THE TAX YEAR, CREDIT UNION MEMBERSHIP INCREASED FROM 62,081 TO 63,936. 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 true 14481 0 true 205 true true true false false false false false X 43 11 false false false false true true true true true false false false true true true true true true true false X PAMELA L TURNER 4349642003 3300 BERKMAR DRIVE CHARLOTTESVILLE VA 22901 X JEFFREY MOSCICKI CHAIRPERSON 001.00 001.00 X 0 0 0 AURIE SCHWARTING V. CHAIRPERSON 001.00 001.00 X 0 0 0 CHARLES GILLET BOD. TREASURER 001.00 001.00 X 0 0 0 PAMELA HIGGINS BOD. SECRETARY 001.00 001.00 X 0 0 0 ROB FREER BOD MEMBER 001.00 001.00 X 0 0 0 LISA HEUCHERT BOD MEMBER 001.00 001.00 X 0 0 0 MARIE MELTON BOD MEMBER 001.00 001.00 X 0 0 0 DANA TROM BOD MEMBER 001.00 001.00 X 0 0 0 RICHARD WOOD BOD MEMBER 001.00 001.00 X 0 0 0 RON WILCOX BOD MEMBER 001.00 001.00 X 0 0 0 KENNETH EADES BOD MEMBER 001.00 001.00 X 0 0 0 ALISON DETUNCQ PRESIDENT/CEO 040.00 040.00 X 329031 0 378864 PAMELA TURNER SVP/CFO 040.00 040.00 X 182266 0 37035 KAREN GILLISPIE VP OF OPERATIONS 040.00 040.00 X 123126 0 34711 LESLIE ROBINSON VP OF IT 040.00 040.00 X 133580 0 28975 THOMAS LINCOLN VP OF LENDING 040.00 040.00 X 129804 0 39898 MICHAEL LYSTER VP OF BUSINESS SERVICES 040.00 040.00 X 117901 0 14649 SHANNON QUICK VP OF HUMAN RESOURCES 040.00 040.00 X 109649 0 37688 JANINE WILLIAMS VP OF MARKETING 040.00 040.00 X 103790 0 28294 1229147 600114 10 false true false FIS 11601 N ROOSEVELT BLVD ST PETERSBURG FL 33716 DEBIT AND CREDIT CARD PROCESSING 1700112 INTUIT FINANCIAL SERVICES PO BOX 2981 PHOENIX AZ 85062 ONLINE AND MOBILE BANKING 1541889 CUNA MUTUAL GROUP PO BOX 2964 MILWAUKEE WI 532012964 LOAN PAPER PRODUCTS, LOAN DOCUMENTS, PENSION CONTRIBUTIONS 664357 3RD DEGREE ADVERTISING & COMMUNICATIONS 501 N WALKER STE 100 OKLAHOMA CITY OK 73102 ADVERTISING DEVELOPMENT 494816 FISERV SOLUTIONS INC PO BOX 300016 DULUTH GA 300960300 OPERATING SYSTEM 354646 13 INCOME ON LOANS 522100 17712253 17712253 FEES AND CHARGES 522100 4043563 4043563 UNRELATED BUSINESS INCOME 900099 54669 54669 21810485 5379704 5379704 129745 132598 -2853 -2853 -2853 407613 425459 -17846 -17846 -17846 OTHER INCOME 522100 3340178 3340178 GAIN ON MORTGAGE LOANS 522100 1455397 1455397 4795575 31965065 31910396 54669 0 0 0 0 1085033 1085033 0 6482166 6482166 655073 655073 1336838 1336838 554758 554758 0 36740 36740 110208 110208 0 0 688045 688045 374118 374118 1321941 1321941 1405846 1405846 0 524042 524042 201994 201994 0 5934 5934 1891825 1891825 62534 62534 897862 897862 217264 217264 SEE ATTACHED SCHEDULE 8223249 8223249 0 26075470 26075470 6903475 6842138 59738360 59599820 2407321 2252292 273785434 284790362 943819 1140322 24327798 9316917 15715057 15010881 260388325 271286621 351387 347383 13648174 14068149 633881352 655337968 6378895 6701099 555604828 580192487 561983723 586893586 X 71897629 68444382 71897629 68444382 633881352 655337968 X 5889595 -9351120 8278 X false true X true false false 4818930 4818930 12304335 3303611 9000724 383851 281082 102769 6602329 5577662 1024667 218353 154562 63791 15010881 Financial derivatives and other financial products Closely-held equity interests Federal income taxes SHARE DRAFTS 113819443 SHARES 220804127 MONEY MARKET 130866353 IRA SHARE 41653338 CERTIFICATES OF DEPOSIT 73049226 580192487 X 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 CONSOLIDATED 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 PUPOSES. 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 CONSOLIDATED FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED 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 true X X false true false ALISON DETUNCQ PRESIDENT/CEO 312184 12238 4609 368686 10178 707895 PAMELA TURNER SVP/CFO 175391 6875 26977 10058 219301 KAREN GILLISPIE VP OF OPERATIONS 118482 4644 21063 13648 157837 LESLIE ROBINSON VP OF IT 128541 5039 22108 6867 162555 THOMAS LINCOLN VP OF LENDING 124908 4896 21730 18168 169702 Part I Line 4B ALISON DETUNCQ PRESIDENT/CEO - 457F EARNINGS TOTALED 334,436 Form 990, Part VI, Section A, Line 6 UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION, INC. IS OWNED BY ITS MEMBERSHIP. EACH MEMBER OWNS ONE SHARE WHICH ENTITLES THAT INDIVIDUAL TO ONE VOTE IN THE ELECTION OF THE CREDIT UNIONS VOLUNTEER BOARD OF DIRECTORS. MEMBERSHIP IS SECURED BY A 5 PAR VALUE WHICH THE MEMEBER MUST MAINTAIN IN HIS OR HER PRIMARY SHARE SAVINGS ACCOUNT. MEMBERSHIP IS OPEN TO ANY PERSON WHO LIVES, WORKS, OR ATTENDS SCHOOL IN THE CITY OF CHARLOTTESVILLE OR THE COUNTIES OF ALBEMARLE, FLUVANNA, GREENE, LOUISA, MADISON, NELSON, OR ORANGE. ANY ONE RELATED TO A CURRENT MEMBER BY BLOOD, MARRIAGE, OR ADOPTION IS ALSO ELIGIBLE TO JOIN. Form 990, Part VII, Section A, Line 7A THE UNIVERISTY OF VIRGINIA COMMUNITY CREDIT UNION, INC. IS A MEMBER-OWNED FINANCIAL INSTITUTION. EACH MEMBER OWNS ONE SHARE WHICH ENTITLES THAT INDIVIDUAL TO ONE VOTE WHICH MAY BE EXCERCISED ANNUALLY FOR THE ELECTION OF A VOLUNTEER BOARD OF DIRECTORS. Form 990, Part VI, Section B, Line 11 THE FORM 990 WILL BE REVIEWED BY THE EXECUTIVE VICE PRESIDENT WHERE ALL THE DATA USED TO COMPILE THE FORM 990 CAME FROM THE AUDITED FINANCIALS AND WORKPAPERS BY THE EXTERNAL AUDITORS. Form 990, Part VI, Section B, Line 12C ALL OFFICERS AND DIRECTORS ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST STATEMENT ANNUALLY. IF ANY INDIVIDUAL WERE TO REPORT A CONFLICT OF INTEREST, THE SPECIFIC SITUATION WOULD BE REVIEWED AND MANAGED AS DEEMED APPROPRIATE BY THE REMAINING BOARD OF DIRECTORS. Form 990, Part VI, Section B, Line 15 THE CREDIT UNION RETAINS THE SERVICES OF AN EXTERNAL COMPENSATION CONSULTING FIRM WHICH PROVIDES MARKET AND PEER GROUP COMPENSATION COMPARISON DATA. THE BOARD OF DIRECTORS UTILIZES THIS DATA DURING THE PROCESS OF DETERMINING AND APPROVING COMPENSATION FOR THE CREDIT UNIONS CEO. THE CEO IN CONJUNCTION WITH THE CREDIT UNIONS HUMAN RESOURCES DEPARTMENT UTILIZES THIS DATA WHEN DETERMINING AND APPROVING THE COMPENSATION FOR THE CREDIT UNIONS OFFICERS AND KEY EMPLOYEES. Form 990, Part VI, Section C, Line 19 THE CREDIT UNIONS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS HAVE NOT BEEN MADE READILY AVAILABLE TO THE GENERAL PUBLIC. IF WE WERE TO RECEIVE A REQUEST FOR ANY SUCH DOCUMENTS, WE WOULD CAREFULLY CONSIDER THE REQUEST AND RESPOND APPROPRIATELY. 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 I, Line 1 THE MISSION OF THE UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION, INC. IS TO 1 ENCOURAGE THRIFT AMONG MEMBERSHIP, THUS CREATING A LENDABLE POOL OF FUNDS 2 MAKE MEMBER LOANS AT A REASONABLE RATE OF INTEREST 3 PAY A FAIR RATE OF RETURN ON MEMBER SAVINGS 4 PROVIDE HELPFUL MEMBER FINANCIAL SERVICE. Form 990, Part XI, Line 9 EQUITY ACQUIRED THROUGH MERGER IS 8,278. 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