2011-11-14T09:34:11-07:00 2010-12-31 990 2010-01-01 350702986 TEACHERS CREDIT UNION TEAC 5742328012 110 South Main Street South Bend IN 46601 Amy Sink 5742846489 2011-11-14 2010 2016-02-24 21:20:13Z Richard J Rice 110 South Main St South Bend IN 46601 129690850 0 X www.tcunet.com X 1931 IN State Chartered Credit Union 10 0 836 0 6631164 -92753 0 0 128780258 126446245 4542524 2596431 599737 648174 133922519 129690850 0 0 0 0 35649565 39563328 0 0 0 91425024 77936024 127074589 117499352 6847930 12191498 2023383326 2001041257 1874666609 1840666266 148716717 160374991 State Chartered Credit Union 0 0 0 0 129690850 In 2010, Teachers Credit Union continued to provide a superior member experience by offering competitive deposit rates and by making sensible loans. Despite sluggish economic conditions, two new service centers were opened that feature enhanced ATMs that offer members easy access to their accounts. The enhanced ATMs allow members to cash or deposit checks, transfer funds, or withdraw cash. Teachers Credit Union continues to increase products and services to the benefit of the membership. 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 1 1 0 0 0 1 94150 0 1 836 1 1 1 0 0 0 0 0 X 10 0 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 1 1 IN X Richard J Rice 5742328012 110 S Main Street South Bend IN 466011805 Vince Henderson 2 X 16735 0 0 Shirley Golichowski 2 X 15076 0 0 William Schlundt 2 X 8253 0 0 Dan Bates 1 X 4600 0 0 Bernard Diedrich 1 X 4974 0 0 Blaine Gamble 1 X 0 0 0 William Hojnacki 2 X 27807 0 0 Jeanette Moeller 2 X 21225 0 0 Roger Thornton 2 X 20545 0 0 Juan Manigault 2 X 4391 0 0 John Myers 2 X 17484 0 0 Derrick Toran 1 X 4200 0 0 Jenny Kline 1 X 3829 0 0 Alfred Bias 2 X 21755 0 0 David Sage 4.00 X 25637 0 0 Peggy Soderberg 1 X 0 0 0 Karol Griffin 45 X 137896 0 28493 David Dodge 45 X 191358 0 50386 Valerie Miller 45 X 206007 0 32230 Amy Sink 45 X 197401 0 25138 Richard Rice 45 X 537441 0 49264 Kevin Butterbaugh 45 X 163726 0 35492 Paul Marsh 45 X 160996 0 24273 Greg Danner 45 X 154149 0 26739 Richard Nettesheim 45 X 239541 0 57694 Waylon Peterson 45 X 180657 0 24983 Bud Bonner 45 X 156985 0 30192 Jeneen Crane 45 X 186839 0 18895 Mark Noeldner 45 X 145208 0 26006 Panayotis Xouris 45 X 194504 0 50962 Brian Liechty 45 X 151971 0 15702 John Garner 45 X 136813 0 15899 3338003 0 512348 23 0 1 0 HUB International 750 Canyon Drive Suite 450 Coppell TX 75019 Insurance Coverage Premiums 1846247 Digital Insight PO Box 515306 Los Angeles CA 90051 Internet Banking 1208925 Diebold Supply 5995 Mayfair Rd North Canton OH 44720 ATM Equipment 777547 Brinks Security 1583 Momentum Place Chicago IL 60689 Armored Services 681850 Verizon Business Services 6415 Business Center Drive Highlands Ranch CO 80130 Telecommunications 1038657 74 0 Loan Interest Income 522130 95584930 95584930 0 0 Fee Income 522130 14655084 13398926 1256158 0 Other Operating Income 525990 16206231 11520719 4685512 0 0 0 0 0 126446245 3928492 3887172 41320 0 0 0 0 0 0 0 0 0 111110 0 0 0 111110 0 111110 0 111110 0 -1340420 8359 0 0 -1340420 8359 -1332061 -1332061 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Management Fees 541200 54360 0 54360 0 Shared Branching 561439 482704 0 482704 0 0 0 0 0 537064 129690850 123059686 6631164 0 0 0 0 0 3343184 0 24775133 3178858 6107059 2159094 0 321947 349082 0 0 5520 955578 3336735 3302337 3832524 0 3922820 191399 0 824356 30638686 1579341 4038754 545382 Provision for Loan Loss 10792693 Franchise Tax 114203 Equipment Maintenance 54420 CU Service Dept/Loan Servicing 12465628 664619 117499352 0 0 0 25459969 30218923 206108561 105024115 0 0 6175754 5703677 3292912 2882432 0 0 1594781404 1614176960 141723 162079 16142321 14136903 91016876 48510160 38639213 42506716 82140755 134698384 30534405 29436551 5942402 5555529 14023907 16538988 2023383326 2001041257 8178702 8793657 0 0 0 0 0 180160017 151808261 1686327890 1680064348 1874666609 1840666266 X 0 0 0 0 148716717 160374991 148716717 160374991 2023383326 2001041257 X 12191498 -533224 X 0 1 1 X 0 5765 0 0 5765 5765 0 ICUPAC PO Box 503406 Indianapolis IN 46250 352034543 5765 0 SchC_P1A_S00_L01 Schedule C, Part I-A, Line 1 The credit union purchases coins of America from the Indiana Credit Union League. Fundraising efforts are then used for lobbying on behalf of credit unions within the state of Indiana. 0 9134389 9134389 0 36125464 12186952 23938512 0 2360819 2056728 304091 0 43396204 34266480 9129724 0 0 0 0 42506716 0 Cashier Checks 5854207 Other Liabilities Oustanding 5509936 Member Shares and Deposits 1668700205 1680064348 129690850 117499352 12191498 0 0 0 0 0 0 12191498 128762559 0 0 0 0 0 128762559 543046 385245 928291 129690850 116571061 0 0 0 0 0 116571061 543046 385245 928291 117499352 SchD_P10_S00_L02 Schedule D, Part X, Line 2 Management has evaluated their income tax positions under guidance included in ASC740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements. SchD_P12_S00_L04b Schedule D, Part XII, Line 4b CUSO administration fees, rental expenses for CUSO buildings, and expense for eliminating Travel CUSO are include in income on form 990, but are eliminated by expense reduction for audited financial reporting purposes. On form 990 capital shares loss of 543,046 is reported in the income item, but is recognized as loss on investment on audited financial statments. SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b CUSO administration fees, rental expenses for CUSO buildings, and expense for Travel CUSO are include in expenses on form 990, but are moved for audited financial reporting purposes. On form 990 capital shares loss of 543,046 is reported in the expense item, but is recognized as loss on investment on audited financial statments. X X 1 1 X X X X X 0 1 0 Karol Griffin 119780 0 16740 0 1376 0 20078 0 4815 0 162789 0 0 Valerie Miller 177009 0 23762 0 5236 0 28630 0 0 0 234637 0 0 David Dodge 167389 0 22990 0 979 0 40615 0 6172 0 238145 0 0 Amy Sink 173110 0 23707 0 584 0 17494 0 4045 0 218940 0 0 Richard Rice 434368 0 78910 0 24163 0 40915 0 4749 0 583105 0 0 Kevin Butterbaugh 142609 0 19688 0 1429 0 29920 0 1972 0 195618 0 0 Paul Marsh 142105 0 18563 0 328 0 14976 0 5697 0 181669 0 0 Greg Danner 134767 0 18400 0 982 0 18184 0 4955 0 177288 0 0 Richard Nettesheim 202305 0 26784 0 10452 0 47937 0 6158 0 293636 0 0 Waylon Peterson 134949 0 43373 0 2335 0 16492 0 4891 0 202040 0 0 Mark Noeldner 125583 0 19222 0 403 0 17249 0 5157 0 167614 0 0 Brian Liechty 0 0 151951 0 20 0 7032 0 5070 0 164073 0 0 0 Jeneen Crane 57350 0 129238 0 251 0 12645 0 2650 0 202134 0 0 0 Panayotis Xouris 0 0 190694 0 3810 0 41034 0 6328 0 241866 0 0 Bud Bonner 130286 0 25151 0 1548 0 23079 0 3513 0 183577 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a When traveling to the corporate annual meeting and conferences spousal expenses are covered for executive management. Country club dues are also paid for annually for the members of executive management. Any personal use is considered taxable and is reimbursed by the employee to the organization. SchJ_P01_S00_L03 Schedule J, Part I, Line 3 The organization uses an independent consulting agency for the compensation of executive management. There is a written contract that includes the terms and agreements of the CEO salary and that agreement is then approved by the board of directors. SchJ_P01_S00_L04 Schedule J, Part I, Line 4 The Chief Executive Officer, Richard J. Rice has a 457 plan in place and $16,500 was contributed in 2010. The Chief Operating Officer, Richard Nettesheim has a 457 plan in place and $7,500 was contributed in 2010. The Chief Lending Officer, David Dodge has a 457 plan in place and $7,500 was contributed in 2010. All plans reported above are 457(b) plans. TCU Board and Management Mortgage/Auto Loans X 3268324 2882432 0 1 1 2882432 Project Future TCU CEO Richard J Rice Serves on the Board 20085 Pledge for 5 year campaign with credit union 0 WNIT TCU CEO Richard J Rice serves on the Board 41591 Media Advertising for Teachers Credit Union 0 ServiceCorp Sr VP Karol Griffin serves on board of directors 736246 Shared branching transactional expenses 0 Procura Sr VP CFO Amy Sink serves on the board of directors 119984 Interchange rebate for purchasing card 0 SchL_P02_S00_L00 Schedule L, Part II All loans to executive management, officer, and board of directors are approved and reviewed during monthly committee meetings. All loans are in line with business plan for financial institutions. Individual loan detail is available upon request. SchL_P04_S00_L00 Schedule L, Part IV Community involvement is a strategic plan for the credit union. Management is encouraged to volunteer for community organizations and often these are businesses that have a relationship with the credit union. F990_P04_S00_L33 Form 990, Part IV, Line 33 TCU Travel LLC is no longer operated as a CUSO and has been consolidated into a functional department. TCU Travel will continue to provide travel services for Teachers Credit Union's members. F990_P06_S0A_L06 Form 990, Part VI, Section A, Line 6 All members are considered equal and have one voate based on voting requirements. F990_P06_S0A_L07a Form 990, Part VI, Section A, Line 7a Board members are elected based on the policy of the credit union and the board of directors. F990_P06_S0B_L11a Form 990, Part VI, Section B, Line 11a The 990 filing return is prepared within the corporate Accounting Department and is then reviewed with an external audit firm. The return is then reviewed by the Chief Financial Officer and the Vice President of Accounting and Finance before going to the Board of Directors. Any significant changes are presented to the board for review. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c Teachers Credit Union reviews the conflict of interest policy annually with all members of the Board of Directors, Senior Executive Management, Vice Presidents, and Assistant Vice Presidents. All persons in these job classifications are required to complete a disclosure form with regard to accounts held, active loans, and any additional outside occupations. These documents are submitted for review to the Director of Administration. Policy includes steps to avoid conflict of interest and if changes occur regarding potential conflicts of interest, it is the responsibility of the director, committee member, or employee to report such changes to the proper channel. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 There is an independent consulting agency that is used to calculate and compare management's compensation. For the Chief Executive Officer, there is also a written contract stating a term and salary. The CEO salary must then be approved by the board of directors. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 The governing documents of the credit union are available upon request. Financial statements are provided in the annual report published annually, or upon request. Each year credit union management reviews the conflict of interest policy and it is available upon requestion. F990_P11_S00_L05 Form 990, Part XI, Line 5 Accumulated unrealized gain or losses on investments account for a net decrease in fund balances of 656,259. Membership fees are added to equity for every account that is opened during the year, this accounted for a net increase in funds of 123,035. TCU Agency LLC 110 South Main St South Bend IN 46601 300012071 Insurance Agency IN 4481205 7457611 Teachers Credit Union TCU Lending Agency LLC 110 South Main St South Bend IN 46601 010867566 Indirect Lending Agency for Autos IN 703705 2206104 Teachers Credit Union TCU Foundation 110 South Main St South Bend IN 46601 351939838 Funding of community involvement for credit union IN Private Foundation Teachers Credit Union 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TCU Foundation b 121433 Amount transfered at year end based on membership count and total contributions for the current year. Extensions were filed on credit unions behalf.