2012-08-14T09:58:46-07:00 2011-12-31 990 2011-01-01 741255147 MCT CREDIT UNION MCTC 4097271446 PO Box 279 Port Neches TX 77651 Chad Powell 4097271446 2012-07-06 2011 2016-02-24 21:20:13Z Thad Angelle PO Box 279 Port Neches TX 77651 13935412 0 X www.mctcu.org X 1953 TX To provide financial services, loan and deposit products that will meet needs and expectations of the field of membership and provide a fair and equitable return to the Credit Union. To grow the field of membership by aggressively pursuing all persons in need of financial products and services by continually enhancing products to better serve the field of membership. 11 11 95 11 0 0 0 13823928 13865858 -13928 -3002 94508 0 13904508 13862856 0 0 4633405 5501621 0 0 8495918 7465623 13129323 12967244 775185 895612 196618649 204518178 178598269 186063210 18020380 18454968 To provide financial services, loan and deposit products that will meet needs and expectations of the field of membership and provide a fair and equitable return to the Credit Union. To grow the field of membership by aggressively pursuing all persons in need of financial products and services by continually enhancing products to better serve the field of membership. 0 0 The Credit Union had 1,673 new members join in 2011. The Credit Union opened 5,538 deposit accounts in 2011. The Credit Union offers a variety of deposit account options including share accounts, share draft accounts, money market accounts, Individua lRetirement Accounts (IRA's), and certificate of deposit accounts with very competitive interest rates. The Credit Union has five branch locations as well as a shared branch program, a 24 hour call center, online banking and bill pay offered at no charge to the membership. The Credit Union offers consumer loans, mortgage loans and business loans to membership. The Credit Union granted 3,404 loans for over 65,000,000 to its membership in 2011. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 1 0 0 1 95 1 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X Chad Powell 4097271446 PO Box 279 Port Neches TX 77651 Randy Brown 2 X 0 0 0 Randy Chance 2 X 0 0 0 Peggy Delahoussaye 2 X 0 0 0 Rebecca Demeter 2 X 0 0 0 Yvonne Grimes 2 X 0 0 0 Michael Guidry 2 X 0 0 0 Michael Laird 2 X 0 0 0 Charles Lankford 2 X 0 0 0 Randy Lupton 2 X 0 0 0 James Myers Jr 2 X 0 0 0 Deborah Norris 2 X 0 0 0 Mary Fadhli 40 X 118326 0 13388 Karen Frederick 40 X 105904 0 14384 Michelene Moody 40 X 100645 0 13095 Chad Powell 40 X 77265 0 11653 Thad Angelle 40 X 164988 0 30248 567128 0 82768 4 0 1 0 Blue Cross Blue Shield of Texas PO Box 731428 Dallas TX 753731428 Health Insurance Provider 489692 Fiserv 75 Remittance Drive Suite 6942 Chicago IL 606756942 Data Processing 464507 American National Insurance PO Box 696785 San Antonio TX 782696785 Credit Life and Disability 449639 Bancvue LTD 4516 Seton Center Parkway 300 Austin TX 78759 Software Provider 351805 American Service Group PO Box 3400 Conroe TX 77305 Auto Warranty Provider for Membership 334967 12 0 Real Estate Lending Income 522130 4784240 4784240 0 0 Consumer Loan Income 522130 3867661 3867661 0 0 Commercial Loan Income 522130 1357677 1357677 0 0 Member Service Fees 522130 1851601 1851601 0 0 Debit Card Interchange Income 522130 853801 853801 0 0 1150878 1150878 0 0 13865858 0 0 0 69554 0 72556 0 -3002 -3002 -3002 0 0 0 13862856 13862856 0 0 0 0 0 0 649893 0 3304022 834074 422045 291587 0 34013 53810 0 0 0 1050150 589009 1533018 118268 0 442432 163184 0 0 28 23655 468518 32441 Interest and Dividends Paid to Members 2385425 Deposit Insurance Special Assessment 270447 Loan Servicing Expense 253662 Association Dues 43578 3985 12967244 0 0 0 2771479 2548356 25661916 11029883 549780 499001 150456430 158556969 198071 104987 12053594 4769428 7428244 7284166 6320041 21459732 3232688 3035084 196618649 204518178 516957 1692825 178081312 184370385 178598269 186063210 X 0 0 0 0 18020380 18454968 18020380 18454968 196618649 204518178 X 895612 -461024 X 1 1 1 X 0 0 1293571 1293571 0 7602319 2044160 5558159 0 0 0 0 0 3157704 2725268 432436 0 0 0 0 7284166 Deposits in Banks and Credit Unions 15780000 C Available for Sale Government Agency Securities 4361946 F Held to Maturity Government Agency Securities 1317786 C 21459732 Member Share Draft Accounts 62766470 Member Share Accounts 58567333 Member Certificates of Deposits 37314520 Member Individual Retirement Accounts 13312554 Member Money Market Accounts 12409508 184370385 X X 1 1 X X X 0 0 0 Thad Angelle 149988 0 15000 0 0 0 5981 0 30248 0 201217 0 171802 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a MCT Credit Union pays for the travel of companions for the Chief Executive Officer and the Board of Directors when attending a conference or meeting. If a companion of the Chief Executive Officer or the Board of Directors travels during the year, the individual is sent a Form 1099 at the beginning of the next year. MCT Credit Union pays the dues at two social clubs. Both of the clubs are under the Chief Executive Officer's name and are primarily used to conduct Credit Union business. SchJ_P01_S00_L03 Schedule J, Part I, Line 3 MCT Credit Union uses several methods to determine the compensation of key employees and officers. The Credit Union's Board of Directors appoints a compensation committee to review employess compensation and make recommedations to the Board of Directors. The compensation comittee uses salary surveys from CUNA Mutual Group as well as other industry resources. The compensation committee also uses Compease, a compensation consulting software. The program takes several factors into account such as specific job responsibilities and local market conditions when determing recommended compensation. Once the compensation committee has a recommendation, it is presented to the Board of Directors for approval. Discovery Information Technologies Owner, Adam Fadhli, Spouse of Mary Fadhli 152778 Information Technology Service and Equipment 0 F990_P06_S0A_L06 Form 990, Part VI, Section A, Line 6 The Credit Union has members who each own a share of the Credit Union. The members of the Credit Union elect the governing body and approve any significant decisions of the governing body as directed in the Credit Union's by-laws. F990_P06_S0A_L07a Form 990, Part VI, Section A, Line 7a The Credit Union has members who each own a share of the Credit Union. The members of the Credit Union elect the governing body and approve any significant decisions of the governing body as directed in the Credit Union's by-laws. F990_P06_S0A_L07b Form 990, Part VI, Section A, Line 7b The Credit Union has members who each own a share of the Credit Union. The members of the Credit Union elect the governing body and approve any significant decisions of the governing body as directed in the Credit Union's by-laws. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b Form 990 is available to the Board of Directors for review at the regulary scheduled monthly meeting. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c MCT Credit Union monitors the conflict of interest policy by requiring all employees to report the potential conflicts of interest to management. Officers and key employees must report conflicts of interest to the Chief Executive Officer. The Chief Executive Officer and any member of the Board of Directors must report any potential conflicts of interest to the Board chairman. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 MCT Credit Union uses several methods to determine the compensation of key employees and officers. The Credit Union's Board of Directors appoints a compensation committee to review employess compensation and make recommedations to the Board of Directors. The compensation comittee uses salary surveys from CUNA Mutual Group as well as other industry resources. The compensation committee also uses Compease, a compensation consulting software. The program takes several factors into account such as specific job responsibilities and local market conditions when determing recommended compensation. Once the compensation committee has a recommendation, it is presented to the Board of Directors for approval. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 MCT Credit Union will provide copies of the governing documents and conflict of interest policy upon request. MCT Credit Union post the balance sheet in the lobby of each branch location monthly. The Credit Union also publishes the yearly financial statements in an annual report to the membership. F990_P11_S00_L05 Form 990, Part XI, Line 5 The Credit Union's other comprehensive income account decreased $350,335 in 2011 due to the performance of the defined benefit plan. The Credit Union owns bank stock and changed the accounting used to recognize the stock from the equity method to the cost method; therefore the Credit Union decreased equity by $124,061 in 2011. The Credit Union purchased available for sale government agencies and recognized an unrealized gain in 2011 of $13,372. Mid County Teachers' CUSO Inc PO Box 279 Port Neches TX 77651 760561938 None (Idle) TX MCT Credit Union C 0 25000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0