2013-06-04T17:43:11-05:00 2012-12-31 410746749 CLIFTONLARSONALLEN LLP 20 E THOMAS RD STE 2300 PHOENIX AZ 85012 990 2012-01-01 741200165 VELOCITY CREDIT UNION VELO 5124697000 PO BOX 1089 AUSTIN TX 787671089 LISA BACK 5124697000 2013-05-28 1 JANIS ISAACSON P00089104 6022662248 2012 2016-02-25 16:41:14Z DEBBIE MITCHELL PO BOX 1089 AUSTIN TX 787671089 34526347 0 X WWW.VELOCITYCU.COM X 1947 TX TO PROVIDE THE BEST PROGRAMS TO MEET THE FINANCIAL NEEDS OF OUR MEMBERS. 6 6 235 6 137322 -140329 0 0 32365042 32411748 2648041 2088599 0 0 35013083 34500347 0 0 0 0 11659581 12148177 0 0 0 16090686 16996090 27750267 29144267 7262816 5356080 613123173 640246674 564972503 586722091 48150670 53524583 X 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. 0 0 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. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 15368 0 1 235 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 0 1 1 1 0 X LISA BACK 5124697000 610 E 11TH STREET AUSTIN TX 78701 MARY PAREDES 0.50 X 1505 0 0 JAMES CHAPMAN 0.50 X 1667 0 0 JOHN CHOMOUT 0.50 X 1647 0 0 THOMAS MATTHEWS 0.50 X 1159 0 0 CARL LYNCH 0.50 X 1972 0 0 JOHN ROSS 0.50 X 907 0 0 DEBBIE MITCHELL 40.00 X 403594 0 20747 HENRY GRADY CHANDLER 40.00 X 330661 0 22837 LISA BACK 40.00 X 172425 0 12867 MIKE FISHER 40.00 X 166965 0 12649 CHERI HALL 40.00 X 166965 0 12649 KASHA BARTHOLOMEW 40.00 X 165628 0 17372 JOHN PAUL SAYERS 40.00 X 166965 0 12649 1582060 0 111770 9 0 1 0 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 21 LOAN INTEREST 522100 21882308 21882308 FEE INCOME 522100 10249264 10111942 137322 OTHER OPERATING INCOME 522100 280176 280176 32411748 1934924 1934924 150115 29560 0 26000 150115 3560 153675 153675 34500347 34363025 137322 0 971987 8478483 891510 1120351 685846 113125 108809 844033 698407 2299643 970168 168863 4891254 445993 783273 MEMBER DEMAND DEPOSIT S 2943221 PROVISION FOR LOSSES 1921035 LOAN SERVICING 455915 MISCELLANEOUS EXPENSE 252202 100149 29144267 5432279 6879809 80147118 82404045 559726 768846 342369754 376979714 545976 725173 19292196 10658638 8587429 8633558 157293816 146664485 18187075 17191044 613123173 640246674 3697807 5502261 14545 24938 561260151 581194892 564972503 586722091 X 0 0 0 0 48150670 53524583 48150670 53524583 613123173 640246674 X 5356080 983167 -965334 X X 0 1 X 0 0 4267412 4267412 9446895 5710087 3736808 5577889 4948551 629338 8633558 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 146664485 REGULAR SHARES 115648812 SHARE DRAFTS 113816490 MONEY MARKET SHARE DRAFTS 157994229 IRA ACCOUNTS 43920223 SHARE CERTIFICATES 140804805 OTHER SHARES 9010333 581194892 X 1 1 X X X 0 1 0 DEBBIE MITCHELL 303941 0 98000 0 1653 0 10000 0 10747 0 424341 0 0 0 HENRY GRADY CHANDLER 322048 0 0 0 8613 0 10000 0 12837 0 353498 0 0 0 LISA BACK 133675 0 38750 0 0 0 6897 0 5970 0 185292 0 0 0 MIKE FISHER 133543 0 33422 0 0 0 6679 0 5970 0 179614 0 0 0 CHERI HALL 133543 0 33422 0 0 0 6679 0 5970 0 179614 0 0 0 KASHA BARTHOLOMEW 132206 0 33422 0 0 0 6625 0 10747 0 183000 0 0 0 JOHN PAUL SAYERS 133543 0 33422 0 0 0 6679 0 5970 0 179614 0 0 0 PART I, LINE 4B DEBBIE MITCHELL $1,652.51; GRADY CHANDLER $8,612.57 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN PRIOR SERVICE COST RESERVE ACCOUNT -965,334. 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.