VELOCITY CREDIT UNION: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- VELOCITY CREDIT UNION (EIN 74-1200165)
- Tax period
- 2012-01-01 to 2012-12-31
- Filed
- 2013-06-04
- IRS object ID
- 201301559349300240
- Schema version
- 2012v2.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-06-04T17:43:11-05:00 | Timestamp |
| Tax Period End Date | 2012-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 410746749 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CLIFTONLARSONALLEN LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 20 E THOMAS RD STE 2300 | AddressLine1 |
| City | PHOENIX | City |
| State | AZ | State |
| ZIP Code | 85012 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2012-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 741200165 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VELOCITY CREDIT UNION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | VELO | NameControl |
| Phone | 5124697000 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 1089 | AddressLine1 |
| City | AUSTIN | City |
| State | TX | State |
| ZIP Code | 787671089 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | LISA BACK | Name |
| Title | CFO | Title |
| Phone | 5124697000 | Phone |
| Date Signed | 2013-05-28 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | JANIS ISAACSON | Name |
| PTIN | P00089104 | PTIN |
| Phone | 6022662248 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2016-02-25 16:41:14Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | DEBBIE MITCHELL | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 1089 | AddressLine1 |
| City | AUSTIN | City |
| State | TX | State |
| ZIP Code | 787671089 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 34526347 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.VELOCITYCU.COM | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1947 | YearFormation |
| State Legal Domicile | TX | StateLegalDomicile |
| Activity Or Mission Description | TO PROVIDE THE BEST PROGRAMS TO MEET THE FINANCIAL NEEDS OF OUR MEMBERS. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 6 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 6 | NbrIndependentVotingMembers |
| Total Nbr Employees | 235 | TotalNbrEmployees |
| Total Nbr Volunteers | 6 | TotalNbrVolunteers |
| Total Gross UBI | 137322 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -140329 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 32365042 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 32411748 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 2648041 | InvestmentIncomePriorYear |
| Investment Income Current Year | 2088599 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 35013083 | TotalRevenuePriorYear |
| Total Revenue Current Year | 34500347 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 11659581 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 12148177 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 16090686 | OtherExpensePriorYear |
| Other Expenses Current Year | 16996090 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 27750267 | TotalExpensesPriorYear |
| Total Expenses Current Year | 29144267 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 7262816 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 5356080 | RevenuesLessExpensesCY |
| Total Assets BOY | 613123173 | TotalAssetsBOY |
| Total Assets EOY | 640246674 | TotalAssetsEOY |
| Total Liabilities BOY | 564972503 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 586722091 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 48150670 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 53524583 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | VELOCITY CREDIT UNION IS A FINANCIAL INSTITUTION FORMED BY AN ORGANIZED GROUP OF PEOPLE WITH A COMMON BOND. MEMBERS OF THE CREDIT UNION POOL THEIR ASSETS TO PROVIDE LOANS AND OTHER FINANCIAL SERVICES TO EACH OTHER. THESE FACTORS ALLOW US TO PAY DIVIDENDS TO OUR MEMBERS AND OFFER OUR MEMBERS LOWER LOAN RATES, HIGHER SAVINGS RATES AND FEWER SERVICE FEES. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Description | VELOCITY CREDIT UNION PROVIDES LOANS TO MEMBERS AT LOWER INTEREST RATES, ACCEPTS DEPOSITS, AND PAYS HIGHER DIVIDEND RATES. DURING 2012: 1) 22,833 LOANS TO MEMBERS AND MEMBER BUSINESSES FOR A TOTAL OF $379MM 2) ORIGINATED 8,553 LOANS IN 2012 WITH A BALANCE OF $190MM, AND 3) SERVICED 72,168 MEMBERS WITH DEPOSITS OF $581MM. | Description |
| Described In501 C3 | 0 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 1 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 0 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 0 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 15368 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 235 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 1 | UnrelatedBusinessIncome |
| Form990-T Filed | 1 | Form990-TFiled |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Form8899 Filed | 0 | Form8899Filed |
| Form1098 C Filed | 0 | Form1098CFiled |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 6 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 6 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 1 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 1 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 1 | LocalChapters |
| Policies Reference Chapters | 1 | PoliciesReferenceChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 0 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LISA BACK | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 5124697000 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 610 E 11TH STREET | AddressLine1 |
| City | AUSTIN | City |
| State | TX | State |
| ZIP Code | 78701 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (13 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|
| MARY PAREDES | |||||||
| DIRECTOR | 0.50 | X | 1505 | 0 | 0 | ||
| JAMES CHAPMAN | |||||||
| VICE CHAIRPERSON | 0.50 | X | 1667 | 0 | 0 | ||
| JOHN CHOMOUT | |||||||
| SECRETARY/TREASURER | 0.50 | X | 1647 | 0 | 0 | ||
| THOMAS MATTHEWS | |||||||
| VICE CHAIRPERSON | 0.50 | X | 1159 | 0 | 0 | ||
| CARL LYNCH | |||||||
| CHAIRMAN | 0.50 | X | 1972 | 0 | 0 | ||
| JOHN ROSS | |||||||
| DIRECTOR | 0.50 | X | 907 | 0 | 0 | ||
| DEBBIE MITCHELL | |||||||
| PRESIDENT/CEO | 40.00 | 403594 | 0 | 20747 | X | ||
| HENRY GRADY CHANDLER | |||||||
| FORMER CFO | 40.00 | 330661 | 0 | 22837 | X | ||
| LISA BACK | |||||||
| CFO | 40.00 | 172425 | 0 | 12867 | X | ||
| MIKE FISHER | |||||||
| SR. VICE-PRES. LENDING | 40.00 | 166965 | 0 | 12649 | X | ||
| CHERI HALL | |||||||
| SR. VICE-PRES. BRANCH SERVICES | 40.00 | 166965 | 0 | 12649 | X | ||
| KASHA BARTHOLOMEW | |||||||
| SR. VICE-PRES. HR | 40.00 | 165628 | 0 | 17372 | X | ||
| JOHN PAUL SAYERS | |||||||
| SR. VICE-PRES. IT | 40.00 | 166965 | 0 | 12649 | X | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 1582060 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 111770 | TotalOtherCompensation |
| Number Individuals GT100 K | 9 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| PULSE | |||||
| 1301 MCKINNEY SUITE 2500 | HOUSTON | TX | 77010 | ATM SERVICES | 2257781 |
| DGU INSURANCE ASSOCIATES LLC | |||||
| 263 BROAD ST | RED BANK | NJ | 07701 | LOAN SERVICING | 587160 |
| SMITH HAMILTON LLC | |||||
| 10534 SENTINEL DR | SAN ANTONIO | TX | 78217 | ATM SERVICER AND PURCHASE OF NEW ATMS | 452373 |
| FIS | |||||
| PO BOX 4535 | CAROL STREAM | IL | 601974535 | STATEMENT PRINTING AND POSTAGE | 420586 |
| HARLAND | |||||
| PO BOX 535120 | ATLANTA | GA | 30353 | INFORMATION TECHNOLOGY SERVICES | 356896 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 21 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| LOAN INTEREST | 522100 | 21882308 | 21882308 | |
| FEE INCOME | 522100 | 10249264 | 10111942 | 137322 |
| OTHER OPERATING INCOME | 522100 | 280176 | 280176 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 32411748 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1934924 | TotalRevenueColumn |
| Related Or Exempt Function Income | 1934924 | RelatedOrExemptFunctionIncome |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 150115 | Securities |
| Other | 29560 | Other |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 0 | Securities |
| Other | 26000 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 150115 | Securities |
| Other | 3560 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 153675 | TotalRevenueColumn |
| Related Or Exempt Function Income | 153675 | RelatedOrExemptFunctionIncome |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 34500347 | TotalRevenueColumn |
| Related Or Exempt Function Income | 34363025 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 137322 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 971987 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 8478483 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 891510 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1120351 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 685846 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 113125 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 108809 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 844033 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 698407 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2299643 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 970168 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 168863 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4891254 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 445993 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 783273 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| MEMBER DEMAND DEPOSIT S | 2943221 |
| PROVISION FOR LOSSES | 1921035 |
| LOAN SERVICING | 455915 |
| MISCELLANEOUS EXPENSE | 252202 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 100149 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 29144267 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5432279 | BOY |
| EOY | 6879809 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 80147118 | BOY |
| EOY | 82404045 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 559726 | BOY |
| EOY | 768846 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 342369754 | BOY |
| EOY | 376979714 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 545976 | BOY |
| EOY | 725173 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 19292196 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 10658638 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 8587429 | BOY |
| EOY | 8633558 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 157293816 | BOY |
| EOY | 146664485 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 18187075 | BOY |
| EOY | 17191044 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 613123173 | BOY |
| EOY | 640246674 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3697807 | BOY |
| EOY | 5502261 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14545 | BOY |
| EOY | 24938 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 561260151 | BOY |
| EOY | 581194892 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 564972503 | BOY |
| EOY | 586722091 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 48150670 | BOY |
| EOY | 53524583 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 48150670 | BOY |
| EOY | 53524583 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 613123173 | BOY |
| EOY | 640246674 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 5356080 | ReconcilationRevenueExpenses |
| Reconciliation Unrealized Invest | 983167 | ReconciliationUnrealizedInvest |
| Reconcilation Other Changes | -965334 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
FS Audited Basis FSAuditedBasis
| Field | Value | IRS element (for citing) |
|---|---|---|
| Financial Statement Separate | X | FinancialStatementSeparate |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | 0 | AuditCommittee |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 4267412 | OtherCostOrOtherBasis |
| Book Value | 4267412 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 9446895 | OtherCostOrOtherBasis |
| Depreciation | 5710087 | Depreciation |
| Book Value | 3736808 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 5577889 | OtherCostOrOtherBasis |
| Depreciation | 4948551 | Depreciation |
| Book Value | 629338 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 8633558 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (4 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| CREDIT UNION BUSINESS SERVICES, LLC | 150000 | C |
| SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN | 3914886 | F |
| FEDERAL HOME LOAN BANK STOCK | 2707500 | C |
| AFS OTHER SECURITIES | 139892099 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 146664485 | TotalOfBookValueSecurities |
Other Liabilities OtherLiabilities (6 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| REGULAR SHARES | $115,648,812 |
| SHARE DRAFTS | $113,816,490 |
| MONEY MARKET SHARE DRAFTS | $157,994,229 |
| IRA ACCOUNTS | $43,920,223 |
| SHARE CERTIFICATES | $140,804,805 |
| OTHER SHARES | $9,010,333 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 581194892 | TotalOfAmounts |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | X | TravelForCompanions |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 1 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (7 entries)
| TitleTitle | Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DEBBIE MITCHELL | ||||||||||||||
| PRESIDENT/CEO | 303941 | 0 | 98000 | 0 | 1653 | 0 | 10000 | 0 | 10747 | 0 | 424341 | 0 | 0 | 0 |
| HENRY GRADY CHANDLER | ||||||||||||||
| FORMER CFO | 322048 | 0 | 0 | 0 | 8613 | 0 | 10000 | 0 | 12837 | 0 | 353498 | 0 | 0 | 0 |
| LISA BACK | ||||||||||||||
| CFO | 133675 | 0 | 38750 | 0 | 0 | 0 | 6897 | 0 | 5970 | 0 | 185292 | 0 | 0 | 0 |
| MIKE FISHER | ||||||||||||||
| SR. VICE-PRES. LENDING | 133543 | 0 | 33422 | 0 | 0 | 0 | 6679 | 0 | 5970 | 0 | 179614 | 0 | 0 | 0 |
| CHERI HALL | ||||||||||||||
| SR. VICE-PRES. BRANCH SERVICES | 133543 | 0 | 33422 | 0 | 0 | 0 | 6679 | 0 | 5970 | 0 | 179614 | 0 | 0 | 0 |
| KASHA BARTHOLOMEW | ||||||||||||||
| SR. VICE-PRES. HR | 132206 | 0 | 33422 | 0 | 0 | 0 | 6625 | 0 | 10747 | 0 | 183000 | 0 | 0 | 0 |
| JOHN PAUL SAYERS | ||||||||||||||
| SR. VICE-PRES. IT | 133543 | 0 | 33422 | 0 | 0 | 0 | 6679 | 0 | 5970 | 0 | 179614 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Reference | PART I, LINE 4B | ReturnReference |
| Explanation | DEBBIE MITCHELL $1,652.51; GRADY CHANDLER $8,612.57 | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (9 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE ORGANIZATION HAS MEMBERS. | |
| FORM 990, PART VI, SECTION A, LINE 7A | THE BOARD OF DIRECTORS ARE ELECTED BY THE MEMBERSHIP. | |
| FORM 990, PART VI, SECTION A, LINE 7B | CERTAIN DECISIONS MUST BE APPROVED BY THE MEMBERSHIP. | |
| FORM 990, PART VI, SECTION B, LINE 11 | A COPY OF THE COMPLETED FORM 990 WILL BE SENT TO EACH BOARD MEMBER FOR THEIR REVIEW PRIOR TO FILING. | |
| FORM 990, PART VI, SECTION B, LINE 12C | DIRECTORS SIGN AN OATH OF OFFICE WHEN ELECTED OR RE-ELECTED WHICH ADDRESSES CONFLICT OF INTEREST. THE CONFLICT OF INTEREST POLICY IS REVIEWED IN-DEPTH DURING NEW EMPLOYEE ORIENTATION AND MANDATORY TRAININGS. WE MONITOR EMPLOYEE ACCOUNTS, LENDING ACTIVITIES, FEE REVERSALS, ETC. TO MONITOR FOR POSSIBLE CONFLICTS. | |
| FORM 990, PART VI, SECTION B, LINE 15 | IN ORDER TO DETERMINE THE CEO'S SALARY, THE BOARD OF DIRECTORS REVIEWS COMPENSATION DATA PROVIDED BY THE SR. VP OF HUMAN RESOURCES AND OBTAINED FROM CUNA (CREDIT UNION NATIONAL ASSOCIATION), CUES (CREDIT UNION EXECUTIVES SOCIETY), TCUL (TEXAS CREDIT UNION LEAGUE) AND OTHER VARIOUS SOURCES AS AVAILABLE. THE SALARY IS SET BASED UPON A REVIEW OF WHAT CREDIT UNION CEOS IN THE ORGANIZATION'S REGION WITH SIMILAR ASSET SIZE WERE PAID IN THE PREVIOUS YEAR. IN ORDER TO DETERMINE TOP MANAGEMENT SALARIES, THE CEO IN CONJUNCTION WITH THE SR. VP OF HUMAN RESOURCES, UTILIZE THE COMPEASE SALARY ADMINISTRATION PROGRAM. | |
| FORM 990, PART VI, SECTION C, LINE 19 | THE UNAUDITED BALANCE SHEET IS MADE AVAILABLE BY POSTING AT EACH BRANCH. THE ANNUAL REPORT IS PROVIDED UPON REQUEST AND IS AVAILABLE ON THE ORGANIZATION'S WEBSITE. THE ANNUAL REPORT IS ALSO AVAILABLE AT THE ANNUAL MEMBER MEETING. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT RELEASED. | |
| FORM 990, PART XI, LINE 9: | CHANGE IN PRIOR SERVICE COST RESERVE ACCOUNT -965,334. | CHANGES IN NET ASSETS OR FUND BALANCES: |
| FORM 990, PART XII, QUESTION 2B | THE ORGANIZATION'S FINANCIAL STATEMENTS WERE AUDITED BY AN INDEPENDENT ACCOUNTANT FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2012. THE ORGANIZATION DID NOT OBTAIN AUDITED FINANCIAL STATEMENTS FOR THE TAX YEAR. |