COMMONWEALTH CREDIT UNION: Form 990, tax year 2012

View the entire original 990 at ProPublica ↗

Organization: COMMONWEALTH CREDIT UNION (EIN 61-0671028)
Tax period: 2012-01-01 to 2012-12-31
Filed: 2013-05-14
IRS object ID: 201311349349300296
Schema version: 2012v2.2
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
Form 990
Schedule D
Schedule J
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2013-05-14T12:15:01-00:00	Timestamp
Tax Period End Date	2012-12-31	TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	ORTH CHAKLER MURNANE AND CO CPAs	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	12060 SW 129 COURT SUITE 201	AddressLine1
City	MIAMI	City
State	FL	State
ZIP Code	33186	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	610671028	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	COMMONWEALTH CREDIT UNION INC	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	COMM	NameControl
Phone	5025644475	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 978	AddressLine1
City	FRANKFORT	City
State	KY	State
ZIP Code	406020978	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	KAREN HARBIN	Name
Title	PRESIDENTCEO	Title
Date Signed	2013-05-13	DateSigned
Authorize Third Party	true	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	AUBREY CLEGG	Name
Phone	3052328272	Phone
Date Prepared	2013-05-14	DatePrepared

Field	Value	IRS element (for citing)
Tax Year	2012	TaxYear
Build TS	2016-02-25 16:41:14Z	BuildTS

Form 990 IRS990

Name Of Principal Officer Business NameOfPrincipalOfficerBusiness

Field	Value	IRS element (for citing)
Business Name Line1	KAREN HARBIN	BusinessNameLine1

Address Principal Officer US AddressPrincipalOfficerUS

Field	Value	IRS element (for citing)
Address Line1	PO BOX 978	AddressLine1
City	FRANKFORT	City
State	KY	State
ZIP Code	406020978	ZIPCode

Field	Value	IRS element (for citing)
Gross Receipts	73616130	GrossReceipts
Group Return For Affiliates	false	GroupReturnForAffiliates
Organization501c	X	Organization501c
Web Site	WWW.CCUKY.ORG	WebSite
Type Of Organization Corporation	X	TypeOfOrganizationCorporation
Year Formation	1951	YearFormation
State Legal Domicile	KY	StateLegalDomicile
Activity Or Mission Description	LEADING IN QUALITY SERVICE THROUGH DYNAMIC FINANCIAL SERVICES. THE CREDIT UNION PROVIDES ITS MEMBERS WITH A SAFE PLACE TO SAVE AND A SOURCE OF CREDIT IN A NOT-FOR-PROFIT CONTEXT. WE STRIVE TO IMPROVE THE LIVES OF THOSE WE SERVE BY HELPING THEM ACHIEVE THEIR DREAMS THROUGH FINANCIAL HEALTH AND SUCCESS.	ActivityOrMissionDescription
Nbr Voting Members Governing Body	13	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	12	NbrIndependentVotingMembers
Total Nbr Employees	324	TotalNbrEmployees
Total Nbr Volunteers	17	TotalNbrVolunteers
Total Gross UBI	2306936	TotalGrossUBI
Net Unrelated Business Txbl Income	-1355776	NetUnrelatedBusinessTxblIncome
Contributions Grants Current Year	0	ContributionsGrantsCurrentYear
Program Service Revenue Prior Year	44021426	ProgramServiceRevenuePriorYear
Program Service Revenue CY	44971631	ProgramServiceRevenueCY
Investment Income Prior Year	3768871	InvestmentIncomePriorYear
Investment Income Current Year	2696110	InvestmentIncomeCurrentYear
Other Revenue Prior Year	1989318	OtherRevenuePriorYear
Other Revenue Current Year	2306936	OtherRevenueCurrentYear
Total Revenue Prior Year	49779615	TotalRevenuePriorYear
Total Revenue Current Year	49974677	TotalRevenueCurrentYear
Grants And Similar Amnts CY	0	GrantsAndSimilarAmntsCY
Benefits Paid To Members CY	0	BenefitsPaidToMembersCY
Salaries Etc Prior Year	18592560	SalariesEtcPriorYear
Salaries Etc Current Year	17476962	SalariesEtcCurrentYear
Total Prof Fundrsng Exp CY	0	TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year	0	TotalFundrsngExpCurrentYear
Other Expense Prior Year	21890438	OtherExpensePriorYear
Other Expenses Current Year	19268181	OtherExpensesCurrentYear
Total Expenses Prior Year	40482998	TotalExpensesPriorYear
Total Expenses Current Year	36745143	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	9296617	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	13229534	RevenuesLessExpensesCY
Total Assets BOY	897005001	TotalAssetsBOY
Total Assets EOY	928031441	TotalAssetsEOY
Total Liabilities BOY	734494843	TotalLiabilitiesBOY
Total Liabilities EOY	752111112	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	162510158	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	175920329	NetAssetsOrFundBalancesEOY
Mission Description	THE CREDIT UNIONS MISSION IS TO LEAD IN QUALITY SERVICE THROUGH DYNAMIC FINANCIAL SOLUTIONS IN A MANNER CONSISTENT WITH ITS NOT-FOR-PROFIT STATUS. WE STRIVE TO IMPROVE THE LIVES OF THOSE WE SERVE BY HELPING THEM ACHIEVE THEIR DREAMS THROUGH FINANCIAL HEALTH AND SUCCESS.	MissionDescription
Significant New Program Services	false	SignificantNewProgramServices
Significant Change	false	SignificantChange
Description	SHARES THE CREDIT UNION HAS 165,594 SHARE ACCOUNTS CONSISTING OF OVER 742,300,000. COMMONWEALTH CREDIT UNION HAS A MYRIAD OF SAVINGS OPTIONS FROM WHICH MEMBERS CAN SELECT TO GROW THEIR FUTURES.	Description
Described In501 C3	false	DescribedIn501C3
Schedule B Required	false	ScheduleBRequired
Political Activities	false	PoliticalActivities
Donor Advised Funds	false	DonorAdvisedFunds
Conservation Easements	false	ConservationEasements
Collections Of Art	false	CollectionsOfArt
Credit Counseling	false	CreditCounseling
Term Or Permanent Endowments	false	TermOrPermanentEndowments
Report Land Bldg Equip	true	ReportLandBldgEquip
Report Invest Oth Securities	false	ReportInvestOthSecurities
Report Prog Rel Invest	false	ReportProgRelInvest
Report Other Assets	false	ReportOtherAssets
Report Other Liabilities	true	ReportOtherLiabilities
Report Fin48 Footnote	true	ReportFin48Footnote
Independent Audit Financial Stmt	true	IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt	false	ConsolidatedAuditFinancialStmt
School	false	School
Foreign Office	false	ForeignOffice
Foreign Activities	false	ForeignActivities
More Than5000 K To Organizations	false	MoreThan5000KToOrganizations
More Than5000 K To Individuals	false	MoreThan5000KToIndividuals
Professional Fundraising	false	ProfessionalFundraising
Fundraising Activities	false	FundraisingActivities
Gaming	false	Gaming
Hospital	false	Hospital
Grants To Organizations	false	GrantsToOrganizations
Grants To Individuals	false	GrantsToIndividuals
Schedule J Required	true	ScheduleJRequired
Tax Exempt Bonds	false	TaxExemptBonds
Loan To Officer Or DQP	false	LoanToOfficerOrDQP
Grant To Related Person	false	GrantToRelatedPerson
Bsnss Rltnshp With Organization	false	BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member	false	BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp	false	OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions	false	DeductibleNonCashContributions
Deductible Contributions Of Art	false	DeductibleContributionsOfArt
Terminated	false	Terminated
Partial Liquidation	false	PartialLiquidation
Disregarded Entity	false	DisregardedEntity
Related Entity	false	RelatedEntity
Related Org Controlled Entity	false	RelatedOrgControlledEntity
Transaction Related Entity	false	TransactionRelatedEntity
Activities Conducted Partnership	false	ActivitiesConductedPartnership
Schedule O Required	true	ScheduleORequired
Number Forms Transmitted With1096	25478	NumberFormsTransmittedWith1096
Number W2 G Included	0	NumberW2GIncluded
Compliance With Backup Witholding	true	ComplianceWithBackupWitholding
Number Of Employees	324	NumberOfEmployees
Employment Tax Returns Filed	true	EmploymentTaxReturnsFiled
Unrelated Business Income	true	UnrelatedBusinessIncome
Form990-T Filed	true	Form990-TFiled
Foreign Financial Account	false	ForeignFinancialAccount
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTrans
Taxable Party Notification	false	TaxablePartyNotification
Non Deductible Contributions	false	NonDeductibleContributions
Indoor Tanning Services	false	IndoorTanningServices
Info In Schedule O Part VI	X	InfoInScheduleOPartVI
Nbr Voting Governing Body Members	13	NbrVotingGoverningBodyMembers
Number Independent Voting Members	12	NumberIndependentVotingMembers
Family Or Business Relationship	false	FamilyOrBusinessRelationship
Delegation Of Management Duties	false	DelegationOfManagementDuties
Changes To Organizing Docs	false	ChangesToOrganizingDocs
Material Diversion Or Misuse	false	MaterialDiversionOrMisuse
Members Or Stockholders	true	MembersOrStockholders
Election Of Board Members	true	ElectionOfBoardMembers
Decisions Subject To Approval	false	DecisionsSubjectToApproval
Minutes Of Governing Body	true	MinutesOfGoverningBody
Minutes Of Committees	true	MinutesOfCommittees
Officer Mailing Address	false	OfficerMailingAddress
Local Chapters	false	LocalChapters
Form990 Provided To Governing Body	true	Form990ProvidedToGoverningBody
Conflict Of Interest Policy	true	ConflictOfInterestPolicy
Annual Disclosure Covered Persons	true	AnnualDisclosureCoveredPersons
Regular Monitoring Enforcement	true	RegularMonitoringEnforcement
Whistleblower Policy	true	WhistleblowerPolicy
Document Retention Policy	true	DocumentRetentionPolicy
Compensation Process CEO	true	CompensationProcessCEO
Compensation Process Other	true	CompensationProcessOther
Investment In Joint Venture	false	InvestmentInJointVenture
Upon Request	X	UponRequest

The Books Are In Care Of TheBooksAreInCareOf

Field	Value	IRS element (for citing)
Name Person	KAREN HARBIN CEO	NamePerson
Telephone Number	5025644775	TelephoneNumber

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	417 HIGH STREET	AddressLine1
City	FRANKFORT	City
State	KY	State
ZIP Code	40601	ZIPCode

Form990 Part VII Section A Form990PartVIISectionA (21 entries)

TitleTitle	Average Hours Per WeekAverageHoursPerWeek	Individual Trustee Or DirectorIndividualTrusteeOrDirector	Reportable Comp From OrganizationReportableCompFromOrganization	Reportable Comp From Related OrgsReportableCompFromRelatedOrgs	Other CompensationOtherCompensation	OfficerOfficer	Key EmployeeKeyEmployee	Highest Compensated EmployeeHighestCompensatedEmployee	FormerFormer
JOHN SCOTT
BOARD OF DIRECTORS	001.00	X	0	0	0
BOB BENDER
BOARD OF DIRECTORS	001.00	X	0	0	0
JIM CHADWELL
BOARD OF DIRECTORS	001.00	X	0	0	0
RANDY OVERSTREET
BOARD OF DIRECTORS	001.00	X	0	0	0
RANDY FAWNS
BOARD OF DIRECTORS	001.00	X	0	0	0
REGINA GRUBBS
BOARD OF DIRECTORS	001.00	X	0	0	0
MARY FOSTER
BOARD OF DIRECTORS	001.00	X	0	0	0
KAY JONES
BOARD OF DIRECTORS	001.00	X	0	0	0
HARRY SUTER
BOARD OF DIRECTORS	001.00	X	0	0	0
ALEX ROSE
BOARD OF DIRECTORS	001.00	X	0	0	0
BILL LEACH
BOARD OF DIRECTORS	001.00	X	942	0	0
ROBIN BREWER
BOARD OF DIRECTORS	001.00	X	0	0	0
KAREN HARBIN
CEO/BOARD MEMBER	040.00	X	247430	0	66127	X
LOUISE BRYANT-RITCHIE
VICE PRESIDENT FINANCE	040.00		136851	0	39515	X
DAVID YOUNG
EXECUTIVE VICE PRESIDENT	040.00		164969	0	45994		X
JOHN COMBS
GENERAL COUNSEL	040.00		118028	0	34698			X
ALAN DAVIS
VICE PRESIDENT OF LENDING	040.00		140238	0	40330			X
ANNE BURGESS
CHIEF INFORMATION OFFICER	040.00		138360	0	39639			X
DONNA JACKSON
COMPTROLLER	040.00		123961	0	36413			X
DOUG GRAHAM
INFORMATION SYSTEMS MANAGER	040.00		119324	0	35297			X
GARY WALLACE
CEO/BOARD MEMBER	040.00		559599	0	132121				X

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	1749702	TotalReportableCompFromOrg
Total Other Compensation	470134	TotalOtherCompensation
Number Individuals GT100 K	15	NumberIndividualsGT100K
Formers Listed	true	FormersListed
Total Comp GT150 K	true	TotalCompGT150K
Compensation From Other Sources	false	CompensationFromOtherSources

Contractor Compensation ContractorCompensation (5 entries)

Address Line1AddressOfContractor/AddressUS/AddressLine1	CityAddressOfContractor/AddressUS/City	StateAddressOfContractor/AddressUS/State	ZIP CodeAddressOfContractor/AddressUS/ZIPCode	Description Of ServicesDescriptionOfServices	CompensationCompensation
KENTUCKY RETIREMENT SYSTEM
1260 LOUISVILLE RD	FRANKFORT	KY	40601	RETIREMENT CONTRIBUTIONS FOR EMPLOYEES	3422041
VISA USA INC
PO BOX 742233	LOS ANGELES	CA	90074	VISA PROCESSING 7 SERVICES	517149
CDW DIRECT LLC
PO BOX 75723	CHICAGO	IL	60675	IT EQUIPMENT, SOFTWARE, ETC	534235
LASERTEC INC
33472 STERLING PONDS BLVD	STERLING HEOGHTS	MI	483125808	STATEMENT POSTAGE REFILL PROCESSING	553010
JACK HENRY & ASSOCIATES INC
PO BOX 609	MONETT	MO	65708	SYMITAR MAINTENANCE EXPENSES	679613

Field	Value	IRS element (for citing)
Number Of Contractors GT100 K	18	NumberOfContractorsGT100K

Program Service Revenue ProgramServiceRevenue (4 entries)

DescriptionDescription	Business CodeBusinessCode	Total Revenue ColumnTotalRevenueColumn	Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome
INTEREST ON LOANS	522100	34958048	34958048
FEE INCOME	522100	5249840	5249840
INTERCHANGE INCOME	522100	4483405	4483405
OTHER INCOME	522100	280338	280338

Field	Value	IRS element (for citing)
Total Program Service Revenue	44971631	TotalProgramServiceRevenue

Investment Income InvestmentIncome

Field	Value	IRS element (for citing)
Total Revenue Column	2987387	TotalRevenueColumn
Exclusion	$2,987,387	ExclusionAmount

Gross Amount Sales Assets GrossAmountSalesAssets

Field	Value	IRS element (for citing)
Securities	23126364	Securities
Other	223812	Other

Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses

Field	Value	IRS element (for citing)
Securities	23375818	Securities
Other	265635	Other

Gain Or Loss GainOrLoss

Field	Value	IRS element (for citing)
Securities	-249454	Securities
Other	-41823	Other

Net Gain Or Loss Investments NetGainOrLossInvestments

Field	Value	IRS element (for citing)
Total Revenue Column	-291277	TotalRevenueColumn
Related Or Exempt Function Income	-313150	RelatedOrExemptFunctionIncome

Other Revenue Misc OtherRevenueMisc (2 entries)

DescriptionDescription	Business CodeBusinessCode	Total Revenue ColumnTotalRevenueColumn	Unrelated Business RevenueUnrelatedBusinessRevenue
INS.COMM.MEMBER SERVICES	524298	2238788	2238788
INCOME ON NON-MEMBER WITHDRAWALS	900099	68148	68148

Field	Value	IRS element (for citing)
Total Other Revenue	2306936	TotalOtherRevenue

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	49974677	TotalRevenueColumn
Related Or Exempt Function Income	44658481	RelatedOrExemptFunctionIncome
Unrelated Business Revenue	2306936	UnrelatedBusinessRevenue
Exclusion	$2,987,387	ExclusionAmount

Grants To Domestic Orgs GrantsToDomesticOrgs

Field	Value	IRS element (for citing)
Total	0	Total

Grants To Domestic Individuals GrantsToDomesticIndividuals

Field	Value	IRS element (for citing)
Total	0	Total

Foreign Grants ForeignGrants

Field	Value	IRS element (for citing)
Total	0	Total

Benefits To Members BenefitsToMembers

Field	Value	IRS element (for citing)
Total	0	Total

Comp Current Officers Directors CompCurrentOfficersDirectors

Field	Value	IRS element (for citing)
Total	701828	Total
Program Services	701828	ProgramServices

Comp Disqual Persons CompDisqualPersons

Field	Value	IRS element (for citing)
Total	0	Total

Other Salaries And Wages OtherSalariesAndWages

Field	Value	IRS element (for citing)
Total	11669291	Total
Program Services	11669291	ProgramServices

Pension Plan Contributions PensionPlanContributions

Field	Value	IRS element (for citing)
Total	2488198	Total
Program Services	2488198	ProgramServices

Other Employee Benefits OtherEmployeeBenefits

Field	Value	IRS element (for citing)
Total	1756441	Total
Program Services	1756441	ProgramServices

Payroll Taxes PayrollTaxes

Field	Value	IRS element (for citing)
Total	861204	Total
Program Services	861204	ProgramServices

Fees For Services Management FeesForServicesManagement

Field	Value	IRS element (for citing)
Total	0	Total

Fees For Services Legal FeesForServicesLegal

Field	Value	IRS element (for citing)
Total	129401	Total
Program Services	129401	ProgramServices

Fees For Services Accounting FeesForServicesAccounting

Field	Value	IRS element (for citing)
Total	54452	Total
Program Services	54452	ProgramServices

Fees For Services Lobbying FeesForServicesLobbying

Field	Value	IRS element (for citing)
Total	0	Total

Field	Value	IRS element (for citing)
Fees For Services Prof Fundraising		FeesForServicesProfFundraising

Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees

Field	Value	IRS element (for citing)
Total	0	Total

Fees For Services Other FeesForServicesOther

Field	Value	IRS element (for citing)
Total	234850	Total
Program Services	234850	ProgramServices

Advertising Advertising

Field	Value	IRS element (for citing)
Total	596788	Total
Program Services	596788	ProgramServices

Office Expenses OfficeExpenses

Field	Value	IRS element (for citing)
Total	892523	Total
Program Services	892523	ProgramServices

Information Technology InformationTechnology

Field	Value	IRS element (for citing)
Total	7409	Total
Program Services	7409	ProgramServices

Royalties Royalties

Field	Value	IRS element (for citing)
Total	0	Total

Occupancy Occupancy

Field	Value	IRS element (for citing)
Total	2014605	Total
Program Services	2014605	ProgramServices

Travel Travel

Field	Value	IRS element (for citing)
Total	51615	Total
Program Services	51615	ProgramServices

Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials

Field	Value	IRS element (for citing)
Total	0	Total

Conferences Meetings ConferencesMeetings

Field	Value	IRS element (for citing)
Total	51368	Total
Program Services	51368	ProgramServices

Interest Interest

Field	Value	IRS element (for citing)
Total	3999162	Total
Program Services	3999162	ProgramServices

Payments To Affiliates PaymentsToAffiliates

Field	Value	IRS element (for citing)
Total	0	Total

Depreciation Depletion DepreciationDepletion

Field	Value	IRS element (for citing)
Total	1542276	Total
Program Services	1542276	ProgramServices

Insurance Insurance

Field	Value	IRS element (for citing)
Total	113299	Total
Program Services	113299	ProgramServices

Other Expenses OtherExpenses

Field	Value	IRS element (for citing)
Description	SEE ATTACHED STATEMENT	Description
Total	9580433	Total
Program Services	9580433	ProgramServices

All Other Expenses AllOtherExpenses

Field	Value	IRS element (for citing)
Total	0	Total

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	36745143	Total
Program Services	36745143	ProgramServices

Cash Non Interest Bearing CashNonInterestBearing

Field	Value	IRS element (for citing)
BOY	5394772	BOY
EOY	6396974	EOY

Savings And Temp Cash Investments SavingsAndTempCashInvestments

Field	Value	IRS element (for citing)
BOY	42509468	BOY
EOY	46705083	EOY

Accounts Receivable AccountsReceivable

Field	Value	IRS element (for citing)
BOY	7194832	BOY
EOY	4738227	EOY

Other Notes Loans Receivable Net OtherNotesLoansReceivableNet

Field	Value	IRS element (for citing)
BOY	538537221	BOY
EOY	550349290	EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

Field	Value	IRS element (for citing)
BOY	1274556	BOY
EOY	1274552	EOY

Field	Value	IRS element (for citing)
Land Buildings Equipment Basis	39761100	LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec	20550061	LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

Field	Value	IRS element (for citing)
BOY	19048898	BOY
EOY	19211039	EOY

Investments Pub Traded Securities InvestmentsPubTradedSecurities

Field	Value	IRS element (for citing)
BOY	272265514	BOY
EOY	287223889	EOY

Investments Other Securities InvestmentsOtherSecurities

Field	Value	IRS element (for citing)
BOY	2667905	BOY
EOY	2403282	EOY

Other Assets Total OtherAssetsTotal

Field	Value	IRS element (for citing)
BOY	8111835	BOY
EOY	9729105	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	897005001	BOY
EOY	928031441	EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Field	Value	IRS element (for citing)
BOY	8869220	BOY
EOY	9751571	EOY

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
BOY	725625623	BOY
EOY	742359541	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	734494843	BOY
EOY	752111112	EOY

Field	Value	IRS element (for citing)
Do Not Follow SFAS117	X	DoNotFollowSFAS117

Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc

Field	Value	IRS element (for citing)
BOY	162510158	BOY
EOY	175920329	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	162510158	BOY
EOY	175920329	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	897005001	BOY
EOY	928031441	EOY

Field	Value	IRS element (for citing)
Reconcilation Revenue Expenses	13229534	ReconcilationRevenueExpenses
Reconciliation Unrealized Invest	180637	ReconciliationUnrealizedInvest
Method Of Accounting Accrual	X	MethodOfAccountingAccrual
Accountant Compile Or Review	false	AccountantCompileOrReview
FS Audited	true	FSAudited

FS Audited Basis FSAuditedBasis

Field	Value	IRS element (for citing)
Financial Statement Separate	X	FinancialStatementSeparate

Field	Value	IRS element (for citing)
Audit Committee	true	AuditCommittee
Federal Grant Audit Required	false	FederalGrantAuditRequired

Schedule D IRS990ScheduleD

Field	Value	IRS element (for citing)
Included On FS	false	IncludedOnFS

Land Land

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	4571845	OtherCostOrOtherBasis
Book Value	4571845	BookValue

Buildings Buildings

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	23766023	OtherCostOrOtherBasis
Depreciation	10781153	Depreciation
Book Value	12984870	BookValue

Equipment Equipment

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	11423232	OtherCostOrOtherBasis
Depreciation	9768908	Depreciation
Book Value	1654324	BookValue

Field	Value	IRS element (for citing)
Total Of Book Value Land Buildings	19211039	TotalOfBookValueLandBuildings

Other Securities OtherSecurities (2 entries)

DescriptionDescription
Financial derivatives and other financial products
Closely-held equity interests

Other Liabilities OtherLiabilities (6 entries)

DescriptionDescription	AmountAmount
Federal income taxes
SHARE	$332,365,432
INDIVIDUAL RETIREMENT ACCOUNTS	$21,176,845
MONEY MARKET ACCOUNTS	$94,135,011
SHARE DRAFT ACCOUNTS	$90,200,925
CERTIFICATES OF DEPOSIT AND IRA CERTIFICATES	$204,481,328

Field	Value	IRS element (for citing)
Total Of Amounts	742359541	TotalOfAmounts
Tot Revenue Etc Audited Fincl Stmt	49952804	TotRevenueEtcAuditedFinclStmt
Other Revenues	-21873	OtherRevenues
Revenue Not Rptd F990	-21873	RevenueNotRptdF990
Revenue Subtotal	49974677	RevenueSubtotal
Total Revenue Per Form990	49974677	TotalRevenuePerForm990
Tot Expenses Etc Audited Fincl Stmt	36723270	TotExpensesEtcAuditedFinclStmt
Expenses Subtotal	36723270	ExpensesSubtotal
Other Expenses Not Included	21873	OtherExpensesNotIncluded
Expenses Not Rptd On Fin Stmt	21873	ExpensesNotRptdOnFinStmt
Total Expenses Per Form990	36745143	TotalExpensesPerForm990

Form990 Schedule D Part XIII Form990ScheduleDPartXIII (3 entries)

IdentifierIdentifier	Return ReferenceReturnReference	ExplanationExplanation
X	2	THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE LAWS. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE 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 THE INTERNAL REVENUE CODE IRC SECTION 50414. AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON UNRELATED BUSINESS INCOME UBI DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE IRS RELEASED TECHNNICAL 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 RECOGNITON OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2011, 2010, AND 2009 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.
XI	2D	LOSS/EXPENSE RELATED TO OREO PROPERTY HELD AS OF DECEMBER 31, 2012 WHICH WAS NETTED AGAINST REVENUE ON THE AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012.
XII	4B	LOSS/EXPENSE RELATED TO OREO PROPERTY HELD AS OF DECEMBER 31, 2012 WHICH WAS NETTED AGAINST REVENUE ON THE AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012.

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Travel For Companions	X	TravelForCompanions
Written Policy Re T And E Expenses	true	WrittenPolicyReTAndEExpenses
Substantiation Required	false	SubstantiationRequired
Compensation Committee	X	CompensationCommittee
Independent Consultant	X	IndependentConsultant
Compensation Survey	X	CompensationSurvey
Board Or Committee Approval	X	BoardOrCommitteeApproval
Severance Payment	false	SeverancePayment
Supplemental Nonqual Retire Plan	false	SupplementalNonqualRetirePlan
Equity Based Comp Arrangement	false	EquityBasedCompArrangement

Form990 Schedule J Part II Form990ScheduleJPartII (9 entries)

TitleTitle	Base Compensation Filing OrgBaseCompensationFilingOrg	Bonus Filing OrgBonusFilingOrg	Deferred Comp Filing OrgDeferredCompFilingOrg	Total Compensation Filing OrgTotalCompensationFilingOrg	Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg
GARY WALLACE
CEO/BOARD MEMBER	548596	11003	132121	691720
KAREN HARBIN
CEO/BOARD MEMBER	233681	13749	58418	313557	7709
DAVID YOUNG
EXECUTIVE VICE PRESIDENT	157576	7393	38949	210963	7045
JOHN COMBS
GENERAL COUNSEL	111847	6181	27867	152726	6831
LOUISE BRYANT-RITCHIE
VICE PRESIDENT FINANCE	127826	9025	32311	176366	7204
ALAN DAVIS
VICE PRESIDENT OF LENDING	130845	9393	33110	180568	7220
ANNE BURGESS
CHIEF INFORMATION OFFICER	131600	6760	32667	177999	6972
DONNA JACKSON
COMPTROLLER	115229	8732	29267	160374	7146
DOUG GRAHAM
INFORMATION SYSTEMS MANAGER	111903	7421	28172	154621	7125

Form990 Schedule J Part III Form990ScheduleJPartIII

Field	Value	IRS element (for citing)
Identifier	I	Identifier
Return Reference	A	ReturnReference
Explanation	A PER DIEM IS PAID FOR MEALS FOR BOARD MEMBERS TRAVEL COMPANIONS.	Explanation

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (6 entries)

IdentifierIdentifier	Return ReferenceReturnReference	ExplanationExplanation
Form 990 Part VI	A 6	ANY INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS A MEMBER. IN TOTAL, THERE ARE 84,411 MEMBERS OF THE CREDIT UNION. ELIGIBILITY TO JOIN COMMONWEALTH CREDIT UNION IS BASED ON PARTICIPATION IN THE KENTUCKY RETIREMENT SYSTEM KENTUCKY EMPLOYERS RETIREMENT, KENTUCKY TEACHERS RETIREMENT, COUNTY EMPLOYEES RETIREMENT, AND KENTUCKY STATE POLICE SYSTEM. RELATIVES AND FAMILY MEMBERS PARTICIPATING IN KRS ARE ALSO ELIGIBLE FOR MEMBERSHIP IN THE CREDIT UNION.
Form 990 Part VI	A 7A	COMMONWEALTH CREDIT UNIONS BOARD OF DIRECTORS ARE ELECTED BY THE MEMBERSHIP AT AN ANNUAL MEETING HELD IN JANUARY OF EACH YEAR. EACH PRIMARY MEMBER IS ENTITLED TO ONE VOTE TO ELECT THE BOARD.
Form 990 Part VI	B 11 A AND B	COMMONWEALTH CREDIT UNION BOARD OF DIRECTORS WERE PROVIDED WITH A COPY OF THE 2012 FORM 990 PRIOR TO THE BOARD MEETING. THEY WERE ASKED TO REVIEW THE FORM AND CONTACT THE CEO WITH QUESTIONS. AT THE BOARD MEETING, THE CEO PROVIDED EXPLANATIONS AND ANSWERED ANY QUESTIONS FROM THE BOARD DURING THE REVIEW OF THE FORM 990.
Form 990 Part VI	B 12C	A STATEMENT OF THE CREDIT UNIONS COMPLIANCE WITH KENTUCKY REVISED STATUTE 290.195 IS INCLUDED IN THE ASSOCIATE HANDBOOK WHICH EACH CREDIT UNION EMPLOYEE SIGNS AS HAVING READ AND AGREES TO ABIDE BY. KRS 290.195 PROVIDES THAT NO DIRECTOR, OFFICER OR ASSOCIATE PARTICIPATE IN INTERESTS THAT COULD GIVE RISE TO CONFLICT. ALSO, AT THE BEGINNING OF EACH YEAR, EVERY EMPLOYEE MUST SIGN A CONFLICT OF INTEREST POLICY. THE HUMAN RESOURCES DEPARTMENT ENSURES THAT EACH EMPLOYEE SIGNS AND AGREES TO THIS POLICY AND MONITORS THAT IT IS DONE.
Form 990 Part VI	B 15	INTEGRITY HR IS USED AS AN OUTSIDE CONSULTANT TO PROVIDE AN INDEPENDENT REVIEW OF THE POSITIONS, SALARIES, LEVELS AND OVERALL COMPENSATION. INTEGRITY HR USES SERVERAL SOURCES OF COMPARABLE DATA INCLUDING CUNA SALARY SURVEYS AS WELL AS LOCAL, REGIONAL, AND NATIONAL SALARY DATA.
Form 990 Part VI	C 19	THE FINANCIALS ARE MADE AVAILABLE AND DISTRIBUTED TO THE PUBLIC EVERY YEAR AT THE ANNUAL MEETING IN PAMPHLET FORM. GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY AND FINANCIALS WOULD ALSO BE DISTRIBUTED ON A REQUEST BASIS TO THE PUBLIC.