STATE CHARTERED CREDIT UNIONS IN MS: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- STATE CHARTERED CREDIT UNIONS IN MS (EIN 64-0344965)
- Tax period
- 2012-01-01 to 2012-12-31
- Filed
- 2013-07-01
- IRS object ID
- 201301829349300510
- 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 | 2013-07-01T09:31:59-05:00 | Timestamp |
| Tax Period End Date | 2012-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 461498870 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BARFIELD MURPHY SHANK & SMITH LLC | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1121 RIVERCHASE OFFICE RD | AddressLine1 |
| City | BIRMINGHAM | City |
| State | AL | State |
| ZIP Code | 35244 | 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 | 640344965 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | STATE CHARTERED CREDIT UNIONS IN MS | BusinessNameLine1 |
| Business Name Line2 | MEMBERS EXCHANGE CREDIT UNION | BusinessNameLine2 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | STAT | NameControl |
| Phone | 6019234324 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 31049 | AddressLine1 |
| City | JACKSON | City |
| State | MS | State |
| ZIP Code | 392861049 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | MITZI TATE | Name |
| Title | PRESIDENT/CEO | Title |
| Phone | 6019223350 | Phone |
| Date Signed | 2013-06-03 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | CYNTHIA HUDSON CPA | Name |
| PTIN | P00029332 | PTIN |
| Phone | 2059825500 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
Doing Business As DoingBusinessAs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MEMBERS EXCHANGE CREDIT UNION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | MITZI TATE | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 31049 | AddressLine1 |
| City | JACKSON | City |
| State | MS | State |
| ZIP Code | 392861049 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 7801325 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.MECUANYWHERE.COM | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1954 | YearFormation |
| State Legal Domicile | MS | StateLegalDomicile |
| Activity Or Mission Description | TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 7 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 7 | NbrIndependentVotingMembers |
| Total Nbr Employees | 47 | TotalNbrEmployees |
| Total Nbr Volunteers | 10 | TotalNbrVolunteers |
| Total Gross UBI | 51777 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -1580 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 4372788 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 4466242 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 158245 | InvestmentIncomePriorYear |
| Investment Income Current Year | 181797 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 2638859 | OtherRevenuePriorYear |
| Other Revenue Current Year | 3152888 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 7169892 | TotalRevenuePriorYear |
| Total Revenue Current Year | 7800927 | 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 | 2035826 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 2214877 | 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 | 3447956 | OtherExpensePriorYear |
| Other Expenses Current Year | 3631086 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 5483782 | TotalExpensesPriorYear |
| Total Expenses Current Year | 5845963 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 1686110 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 1954964 | RevenuesLessExpensesCY |
| Total Assets BOY | 70176800 | TotalAssetsBOY |
| Total Assets EOY | 79234771 | TotalAssetsEOY |
| Total Liabilities BOY | 60219900 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 67322907 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 9956900 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 11911864 | NetAssetsOrFundBalancesEOY |
| Mission Description | TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Description | 15,737 MEMBERS SERVED TO PROMOTE THRIFT OPPORTUNITIES AND LOW COST LOANS | 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 | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | 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 | 1 | 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 | 1743 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 47 | 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 |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 7 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 7 | 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 | 1 | 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 | SUSAN BOSHART SENIOR VICE PRESIDENT | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 6019234324 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 107 MARKETRIDGE DRIVE | AddressLine1 |
| City | RIDGELAND | City |
| State | MS | State |
| ZIP Code | 39157 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (12 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer |
|---|---|---|---|---|---|---|
| KENNETH ALLISON | ||||||
| BOARD CHAIRMAN | 1.00 | X | 0 | 0 | 0 | |
| ERNIE J HOPKINS | ||||||
| BOARD VICE-CHAIRMAN | 1.00 | X | 0 | 0 | 0 | |
| BARBARA MANGUM | ||||||
| BOARD SECRETARY | 1.00 | X | 0 | 0 | 0 | |
| OSCAR POPE | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| MARY WASHINGTON-GARNER | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| DOCK E GRAVES | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| LORI MOAK | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| MITZI TATE | ||||||
| PRESIDENT/CEO | 40.00 | 152712 | 0 | 9463 | X | |
| KAREN ROOT | ||||||
| SENIOR VICE PRESIDENT | 40.00 | 108144 | 0 | 7189 | X | |
| SUSAN BOSHART | ||||||
| SENIOR VICE PRESIDENT | 40.00 | 112309 | 0 | 7433 | X | |
| LADONNA JACOBS | ||||||
| VICE PRESIDENT OF BRANCH O | 40.00 | 83045 | 0 | 6495 | X | |
| MALEIGH HALFORD | ||||||
| VICE PRESIDENT OF ADMINIST | 40.00 | 75365 | 0 | 2561 | X | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 531575 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 33141 | TotalOtherCompensation |
| Number Individuals GT100 K | 3 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (3 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| MEMBER DRIVEN TECHNOLOGIES | |||||
| 7415 CHICAGO RD | WARREN | MI | 48092 | DATA PROCESSING | 258834 |
| FISERV | |||||
| 255 FISERV DR | BROOKFIELD | WI | 53045 | ATM PROCESSING | 129187 |
| STRUNK & ASSOCIATES | |||||
| 14614 FALLING CREEK DR STE 110 | HOUSTON | TX | 770682942 | CONSULTING | 103892 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 3 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | LOAN INTEREST INCOME | Description |
| Business Code | 522130 | BusinessCode |
| Total Revenue Column | 4466242 | TotalRevenueColumn |
| Related Or Exempt Function Income | 4466242 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 4466242 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 182195 | TotalRevenueColumn |
| Exclusion | $182,195 | ExclusionAmount |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 19119 | TotalRevenueColumn |
| Exclusion | $19,119 | ExclusionAmount |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 398 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -398 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -398 | TotalRevenueColumn |
| Exclusion | -$398 | ExclusionAmount |
Other Revenue Misc OtherRevenueMisc (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| ACCOUNT SERVICE AND CH | 522130 | 1764974 | 1764974 |
| ACH FEE INCOME | 522130 | 498554 | 498554 |
| DEBIT AND CREDIT CARD | 522130 | 355580 | 355580 |
Miscellaneous Revenue MiscellaneousRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 514661 | TotalRevenueColumn |
| Related Or Exempt Function Income | 462884 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 51777 | UnrelatedBusinessRevenue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 3133769 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 7800927 | TotalRevenueColumn |
| Related Or Exempt Function Income | 7548234 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 51777 | UnrelatedBusinessRevenue |
| Exclusion | $200,916 | ExclusionAmount |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 564716 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1252082 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 30300 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 215563 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 152216 | Total |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 126181 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3735 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 69694 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 40423 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 190210 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 378604 | Total |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 37339 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 261305 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 61701 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4003 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 621099 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 239312 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 90123 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| BAD DEBTS | 473773 |
| OUTSIDE SERVICES | 269320 |
| DATA PROCESSING | 210505 |
| CHARGE OFF SHARE FEES | 190265 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 363494 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5845963 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1963809 | BOY |
| EOY | 2804171 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 22074339 | BOY |
| EOY | 26451075 | EOY |
Receivables From Officers Etc ReceivablesFromOfficersEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1057712 | BOY |
| EOY | 1268632 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 39994040 | BOY |
| EOY | 42624036 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 291094 | BOY |
| EOY | 324543 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 6547164 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 2634402 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3924235 | BOY |
| EOY | 3912762 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 13226 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 871571 | BOY |
| EOY | 1836326 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 70176800 | BOY |
| EOY | 79234771 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1319692 | BOY |
| EOY | 1415184 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 58900208 | BOY |
| EOY | 65907723 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 60219900 | BOY |
| EOY | 67322907 | 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 | 9956900 | BOY |
| EOY | 11911864 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 9956900 | BOY |
| EOY | 11911864 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 70176800 | BOY |
| EOY | 79234771 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expenses | 1954964 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 0 | 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 | 1 | AuditCommittee |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 596575 | OtherCostOrOtherBasis |
| Book Value | 596575 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 4135941 | OtherCostOrOtherBasis |
| Depreciation | 1117136 | Depreciation |
| Book Value | 3018805 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1814648 | OtherCostOrOtherBasis |
| Depreciation | 1517266 | Depreciation |
| Book Value | 297382 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 3912762 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | MEMBER DEPOSITS | Description |
| Amount | $65,907,723 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 65907723 | TotalOfAmounts |
| Footnote In Part XIII | X | FootnoteInPartXIII |
| Tot Revenue Etc Audited Fincl Stmt | 7610662 | TotRevenueEtcAuditedFinclStmt |
| Revenue Not Rptd F990 | 0 | RevenueNotRptdF990 |
| Revenue Subtotal | 7610662 | RevenueSubtotal |
| Other Revenues Not Included | 190265 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 190265 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 7800927 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 5655698 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 5655698 | ExpensesSubtotal |
| Other Expenses Not Included | 190265 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 190265 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 5845963 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIII Form990ScheduleDPartXIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: | Identifier |
| Return Reference | PART X, LINE 2: | ReturnReference |
| Explanation | THE CREDIT UNION IS EXEMPT BY STATUTE FROM FEDERAL INCOME TAXES EXCEPT FOR CERTAIN PRODUCTS AND SERVICES FOR WHICH THE NET TAXABLE INCOME IS SUBJECT TO INCOME TAXES UNDER THE UNRELATED BUSINESS INCOME TAX (UBIT) REGULATIONS. TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE LIKELY THAN NOT THE POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. THE CREDIT UNION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR THE INCOME TAX POSITIONS TAKEN ON ITS TAX RETURNS AND THAT ITS ACCRUALS FOR TAX LIABILITIES ARE ADEQUATE FOR ALL OPEN TAX YEARS (AFTER 2008 FOR FEDERAL) BASED ON ASSESSMENT OF MANY FACTORS INCLUDING EXPERIENCE AND INTERPRETATIONS OF TAX LAWS APPLIED TO THE FACTS OF EACH MATTER. AS OF DECEMBER 31, 2012, THE CREDIT UNION HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS BASED ON AN ASSESSMENT OF MANY FACTORS INCLUDING EXPERIENCE AND INTERPRETATIONS OF TAX LAWS. | Explanation |
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 |
| Independent Consultant | X | IndependentConsultant |
| Written Employment Contract | X | WrittenEmploymentContract |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | MITZI TATE | NamePerson |
| Title | PRESIDENT/CEO | Title |
| Base Compensation Filing Org | 111251 | BaseCompensationFilingOrg |
| Comp Based On Related Orgs | 0 | CompBasedOnRelatedOrgs |
| Bonus Filing Org | 40952 | BonusFilingOrg |
| Bonus Related Orgs | 0 | BonusRelatedOrgs |
| Other Compensation Filing Org | 509 | OtherCompensationFilingOrg |
| Other Compensation Related Orgs | 0 | OtherCompensationRelatedOrgs |
| Deferred Comp Filing Org | 863 | DeferredCompFilingOrg |
| Deferred Comp Related Orgs | 0 | DeferredCompRelatedOrgs |
| Nontaxable Benefits Filing Org | 8600 | NontaxableBenefitsFilingOrg |
| Nontaxable Benefits Related Orgs | 0 | NontaxableBenefitsRelatedOrgs |
| Total Compensation Filing Org | 162175 | TotalCompensationFilingOrg |
| Total Compensation Related Orgs | 0 | TotalCompensationRelatedOrgs |
| Comp Report Prior990 Filing Org | 0 | CompReportPrior990FilingOrg |
| Comp Report Prior990 Related Orgs | 0 | CompReportPrior990RelatedOrgs |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Reference | PART I, LINE 1A | ReturnReference |
| Explanation | THE CREDIT UNION REIMBURSES UP TO $300 FOR A TRAVEL COMPANION'S AIRLINE TICKET AND $150 FOR A TRAVEL COMPANION'S BAGGAGE. THE FOLLOWING BOARD MEMBERS RECEIVED REIMBURSEMENT FOR A TRAVEL COMPANION'S TICKET AND BAGGAGE AS DESCRIBED ABOVE: LORI MOAK $450 DOCK E. GRAVES $450 OSCAR POPE $450 MARY WASHINGTON-GARNER, $240 BARBARA MANGUM $450 THESE PAYMENTS DID NOT MEET THE 1099-MISC FILING REQUIREMENT. | Explanation |
Schedule L IRS990ScheduleL
Loan Table LoanTable (30 entries)
| Relationship With OrganizationRelationshipWithOrganization | Purpose Of LoanPurposeOfLoan | Loan From OrganizationLoanFromOrganization | Original PrincipalOriginalPrincipalAmount | Balance DueBalanceDue | DefaultDefault | Approved By BoardApprovedByBoard | Written AgreementWrittenAgreement |
|---|---|---|---|---|---|---|---|
| MITZI TATE | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $72,000 | 72000 | 0 | 1 | 1 |
| MITZI TATE | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $72,000 | 72000 | 0 | 1 | 1 |
| MITZI TATE | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $72,000 | 72000 | 0 | 1 | 1 |
| MITZI TATE | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $72,000 | 72000 | 0 | 1 | 1 |
| MITZI TATE | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $72,000 | 72000 | 0 | 1 | 1 |
| MITZI TATE | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $72,000 | 72000 | 0 | 1 | 1 |
| KAREN ROOT | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $75,000 | 75000 | 0 | 1 | 1 |
| KAREN ROOT | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $75,000 | 75000 | 0 | 1 | 1 |
| KAREN ROOT | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $75,000 | 75000 | 0 | 1 | 1 |
| KAREN ROOT | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $75,000 | 75000 | 0 | 1 | 1 |
| KAREN ROOT | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $75,000 | 75000 | 0 | 1 | 1 |
| KAREN ROOT | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $75,000 | 75000 | 0 | 1 | 1 |
| SUSAN BOSHART | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $24,000 | 24000 | 0 | 1 | 1 |
| SUSAN BOSHART | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $23,598 | 23598 | 0 | 1 | 1 |
| SUSAN BOSHART | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $23,598 | 23598 | 0 | 1 | 1 |
| SUSAN BOSHART | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $23,598 | 23598 | 0 | 1 | 1 |
| SUSAN BOSHART | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $23,598 | 23598 | 0 | 1 | 1 |
| SUSAN BOSHART | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $23,598 | 23598 | 0 | 1 | 1 |
| MALEIGH HALFORD | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $26,000 | 26000 | 0 | 1 | 1 |
| MALEIGH HALFORD | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $26,000 | 26000 | 0 | 1 | 1 |
| MALEIGH HALFORD | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $26,000 | 26000 | 0 | 1 | 1 |
| MALEIGH HALFORD | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $26,000 | 26000 | 0 | 1 | 1 |
| MALEIGH HALFORD | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $25,321 | 25321 | 0 | 1 | 1 |
| MALEIGH HALFORD | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $25,321 | 25321 | 0 | 1 | 1 |
| LADONNA JACOBS | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $15,000 | 15000 | 0 | 1 | 1 |
| LADONNA JACOBS | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $15,000 | 15000 | 0 | 1 | 1 |
| LADONNA JACOBS | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $15,000 | 15000 | 0 | 1 | 1 |
| LADONNA JACOBS | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $15,000 | 15000 | 0 | 1 | 1 |
| LADONNA JACOBS | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $15,000 | 15000 | 0 | 1 | 1 |
| LADONNA JACOBS | |||||||
| OFFICER | COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE | X | $15,000 | 15000 | 0 | 1 | 1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | 1268632 | TotalBalanceDue |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (8 entries)
| Return ReferenceReturnReference | ExplanationExplanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | MEMBERS EXCHANGE CREDIT UNION IS A NON-PROFIT FINANCIAL INSTITUTION THAT IS OWNED AND OPERATED BY ITS MEMBERS. MEMBERSHIP IS OPEN TO PERSONS WHO LIVE, WORK, WORSHIP, VOLUNTEER OR ATTEND SCHOOL IN, COPIAH, HINDS, MADISON, RANKIN, OR SIMPSON COUNTIES IN MISSISSIPPI. IMMEDIATE FAMILY OF THE CREDIT UNION'S MEMBERS AND THE BUSINESSES AND OTHER LEGAL ENTITIES OF MEMBERS ARE ALSO ELIGIBLE TO BECOME MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE CREDIT UNION WILL CALL FOR NOMINEES FROM THE MEMBERSHIP IN THE CREDIT UNION'S 4TH QUARTER NEWSLETTER PRIOR TO THE FOLLOWING YEAR'S ANNUAL MEETING. ANYONE INTERESTED IN SERVING WILL SUBMIT A BRIEF BIOGRAPHY DETAILING WHY HE/SHE WOULD LIKE TO SERVE ON THE BOARD. APPROXIMATELY NINETY DAYS PRIOR TO EACH ANNUAL MEETING, THE CHAIRMAN OF THE BOARD OF DIRECTORS APPOINTS A NOMINATING COMMITTEE OF THREE OR MORE MEMBERS. IT IS THE DUTY OF THE NOMINATING COMMITTEE TO REVIEW THE SUBMISSIONS AND DETERIMINE ELIGIBILITY. THEY WILL THEN NOMINATE AT LEAST ONE MEMBER FOR EACH BOARD VACANCY, INCLUDING ANY UNEXPIRED TERM VACANCY, FOR WHICH THE ELECTIONS ARE BEING HELD. THE NOMINATING COMMITTEE WILL THEN PUBLISH THE NOMINEES IN THE 1ST QUARTER NEWSLETTER, AND IN FEBRUARY, BALLOTS LISTING THE NOMINEES WILL BE MAILED TO THE MEMBERS. ONCE RETURNED, ALL VOTES WILL BE DETERMINED BY PLURALITY VOTE, AND SHALL BE BY BALLOT EXCEPT WHERE THERE IS ONLY ONE NOMINEE FOR THE OFFICE. ELECTIONS MAY BE BY SEPARATE BALLOTS FOLLOWING THE SAME ORDER AS THE ABOVE NOMINATIONS OR, IF PREFERRED, MAY BE ONE BALLOT FOR ALL OFFICES. |
| FORM 990, PART VI, SECTION A, LINE 7B | MEMBERS TAKE PART IN THE VOTING PROCESS FOR DIRECTORS SERVING ON THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION B, LINE 11 | UPON COMPLETION OF MEMBERS EXCHANGE CREDIT UNION'S FORM 990, THE RETURN IS PRESENTED TO THE BOARD AT A BOARD OF DIRECTORS MEETING. AT THE MEETING, THE BOARD MEMBERS REVIEW THE TAX RETURN AND ARE FREE TO ASK ANY QUESTIONS OR ENGAGE IN DISCUSSION REGARDING ANY TOPIC COVERED IN THE RETURN. ONCE THE GOVERNING BODY HAS REVIEWED AND APPROVED THE FORM 990, THE RETURN IS FILED WITH THE INTERNAL REVENUE SERVICE. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE STAFF AND BOARD AT MEMBERS EXCHANGE CREDIT UNION REVIEW AND SIGN A CONFLICT OF INTEREST FORM ON A YEARLY BASIS. |
| FORM 990, PART VI, SECTION B, LINE 15 | COMPENSATION FOR OFFICERS, EMPLOYEES AND TOP MANAGEMENT OFFICIALS IS DETERMINED ON A YEARLY BASIS. MEMBERS EXCHANGE CREDIT UNION CONTRACTS WITH A COMPENSATION AND PERFORMANCE CONSULTING FIRM AS PART OF THE PROCESS FOR DETERMINING COMPENSATION. THE CONSULTING FIRM PROVIDES THE CREDIT UNION WITH PERFORMANCE AND COMPENSATION SOFTWARE WHICH IS USED TO OBTAIN INFORMATION REGARDING SALARY RANGES FOR VARIOUS POSITIONS. THE SOFTWARE CONTAINS SALARY RANGE DATA OF SIMILAR INSTITUTIONS OF SIMILAR SIZE AND LOCATION. FROM THIS DATA, THE CREDIT UNION'S SALARY RANGES ARE UPDATED FOR THE CURRENT YEAR. ONCE UPDATED, THE RANGES ARE SUBMITTED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL. THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS PERFORMS THE PRESIDENT/CEO'S PERFORMANCE EVALUATION ANNUALLY. THEY REPORT TO THE ENTIRE BOARD OF DIRECTORS, WHO THEN VOTE ON A MERIT INCREASE PERCENTAGE. THE PRESIDENT/CEO IS THEN RESPONSIBLE FOR OVERSEEING ALL OTHER EMPLOYEE EVALUATIONS AND ANNUAL MERIT INCREASES. |
| FORM 990, PART VI, SECTION C, LINE 19 | MEMBERS EXCHANGE CREDIT UNION MAKES AVAILABLE ITS FINANCIAL STATEMENTS VIA THE NCUA WEBSITE WHICH CAN BE FOUND AT WWW.NCUA.GOV. OTHER DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART XII, LINE 2: | THE CREDIT UNION HAD AUDITED FINANCIAL STATEMENTS PREPARED AS OF 12/31/12. |