Civic Intelligence

Lowland Credit Union

990 • Fiscal year 2017 • EIN 62-0671754

Jan 01, 2017 to Dec 31, 2017 • Filed on May 10, 2018

Organization ProfileWWW.LOWLANDCU.ORG

View Organization Page

622 West First North StreetMorristown, TN 37814-4544

(423) 581-8345

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

87th percentile

0.92x

Higher debt load relative to assets than 87% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2017

Liabilities / Revenue

68th percentile

21.21x

Higher debt load relative to revenue than 68% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2017

Net Margin

11th percentile

-3.1%

Higher net margin than 11% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2017

Top Officer Pay

26th percentile

$114,710

Higher top officer pay than 26% of similar nonprofits.

Top officer pay equals 2.8% of source-year revenue.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2017

Asset Growth

82nd percentile

6.8%

Faster asset growth than 82% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Revenue Growth

79th percentile

11%

Faster revenue growth than 79% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets87th percentile

Assets

Up

$95,603,786

Up $6,063,605 (+6.8%) from 2016

Net Assets

Down

$7,935,801

Down $122,394 (-1.5%) from 2016

Liabilities

Up

$87,667,985

Up $6,185,999 (+7.6%) from 2016

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin11th percentile

Revenue

Up

$4,132,700

Up $415,072 (+11%) from 2016

Expenses

Up

$4,262,338

Up $457,173 (+12%) from 2016

Net Income

Down

-$129,638

Down $42,101 (-48%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth82nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0Assets 2010: $71,267,426Liabilities 2010: $63,939,253Net Assets 2010: $7,328,1732010Assets 2011: $76,219,894Liabilities 2011: $68,250,310Net Assets 2011: $7,969,5842011Assets 2012: $77,863,801Liabilities 2012: $69,949,687Net Assets 2012: $7,914,1142012Assets 2013: $78,379,046Liabilities 2013: $71,770,901Net Assets 2013: $6,608,1452013Assets 2014: $84,311,753Liabilities 2014: $76,629,369Net Assets 2014: $7,682,3842014Assets 2015: $88,142,869Liabilities 2015: $80,168,390Net Assets 2015: $7,974,4792015Assets 2016: $89,540,181Liabilities 2016: $81,481,986Net Assets 2016: $8,058,1952016Assets 2017: $95,603,786Liabilities 2017: $87,667,985Net Assets 2017: $7,935,8012017Assets 2018: $99,774,083Liabilities 2018: $91,808,083Net Assets 2018: $7,966,0002018Assets 2019: $101,562,531Liabilities 2019: $93,254,571Net Assets 2019: $8,307,9602019Assets 2020: $116,265,652Liabilities 2020: $107,429,504Net Assets 2020: $8,836,1482020Assets 2021: $135,120,699Liabilities 2021: $125,973,672Net Assets 2021: $9,147,0272021Assets 2022: $136,475,491Liabilities 2022: $129,063,396Net Assets 2022: $7,412,0952022Assets 2023: $136,967,195Liabilities 2023: $129,736,282Net Assets 2023: $7,230,9132023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2017

Assets$95,603,786
Liabilities$87,667,985
Net Assets$7,935,801
Open 2017 Filing

Operations Trend

Revenue Growth79th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MExpenses 2010: $4,405,0372010Expenses 2011: $3,986,7372011Expenses 2012: $4,215,4732012Revenue 2013: $3,951,203Expenses 2013: $3,928,414Net Income 2013: $22,7892013Revenue 2014: $3,769,808Expenses 2014: $3,746,807Net Income 2014: $23,0012014Revenue 2015: $3,694,239Expenses 2015: $3,583,087Net Income 2015: $111,1522015Revenue 2016: $3,717,628Expenses 2016: $3,805,165Net Income 2016: -$87,5372016Revenue 2017: $4,132,700Expenses 2017: $4,262,338Net Income 2017: -$129,6382017Revenue 2018: $4,463,236Expenses 2018: $4,524,440Net Income 2018: -$61,2042018Revenue 2019: $4,976,678Expenses 2019: $4,608,467Net Income 2019: $368,2112019Revenue 2020: $5,062,114Expenses 2020: $4,507,645Net Income 2020: $554,4692020Revenue 2021: $5,707,357Expenses 2021: $5,084,733Net Income 2021: $622,6242021Revenue 2022: $6,331,553Expenses 2022: $5,652,390Net Income 2022: $679,1632022Revenue 2023: $7,302,104Expenses 2023: $7,608,936Net Income 2023: -$306,8322023Revenue 2024: $2,505,631Expenses 2024: $3,100,414Net Income 2024: -$594,7832024

Highlighted filing

2017

Revenue$4,132,700
Expenses$4,262,338
Net Income-$129,638
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 10, 2018
Return Version
2017v2.2
Gross Receipts
$4,132,700
Mission and Program Overview

Mission

State chartered credit union mutually owned by our 10,217 members, to promote thrift, issue shares and maintain accounts, and make loans to our members. Funds not needed for liquidity or for loans are temporarily invested.

State chartered credit union mutually owned by our 12,690 members, to promote thrift, issue shares and maintain accounts, and make loans to our members. Funds not needed for liquidity or for loans are temporarily invested.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$45,829,523$59,839,063▲ $14,009,540
Investments Program Related$34,063,035$26,250,961▼ $7,812,074
Rtn Earn Endowment Incm Other Fnds$8,058,195$7,935,801▼ $122,394
Savings and Temporary Cash Investments$4,547,862$3,754,533▼ $793,329
Land, Buildings, and Equipment, Net$2,524,792$2,657,176▲ $132,384
Cash and Non-Interest-Bearing Accounts$2,050,343$2,580,980▲ $530,637
Prepaid Expenses and Deferred Charges$399,197$521,073▲ $121,876
Total Assets$89,540,181$95,603,786▲ $6,063,605
Other Assets Total$125,429--
Liabilities
Other Liabilities$81,248,847$87,621,041▲ $6,372,194
Accounts Payable and Accrued Expenses$233,139$46,944▼ $186,195
Total Liabilities$81,481,986$87,667,985▲ $6,185,999
Net Assets / Fund Balance
Total Net Assets Fund Balance$8,058,195$7,935,801▼ $122,394
Total Liabilities and Net Assets / Fund Balance$89,540,181$95,603,786▲ $6,063,605

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$836,183--
Buildings$1,971,036$459,170-
Land$506,919--
Equipment$179,221$1,149,594-
Compensation and Service Providers
Top Officer Pay26th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mark CreechPresidentceoFT$95,208$19,502$114,710
Jay C SetserVP of LendingFT$50,390$18,902$69,292
Debra a HoneycuttExecutive Vice PresidentFT$63,990$5,073$69,063
Revonda S Golden-deanBranch ManagerFT$35,342$23,442$58,784
Sonya M AntricanBranch ManagerFT$44,125$11,632$55,757

Board Members and Trustees

NameTitle
John T WalkerBoard Chairman
Cecil MillsFormer Board Chairman
Anthony L CagleBoard Member
Brandon TomassoniBoard Member
Edward L GilbertBoard Member
Joann JenkinsBoard Member
Roy C ArnwineBoard Member
Tommy a MusserBoard Member
Todd L MarshallBoard Secretary
Calvin L LaceyFormer Secretary
Ronnie J MooreTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,132,700
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-129,638
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,474,136
Salaries, Compensation, and Employee Benefits$1,517,903
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$889,257--$889,257
Other Salaries and Wages$747,044--$747,044
Current Officers, Directors, Trustees, and Key Employees$289,055--$289,055
Benefits to Members$270,299--$270,299
Other Employee Benefits$253,749--$253,749
Occupancy$173,781--$173,781
Pension Plan Contributions$146,519--$146,519
All Other Expenses$141,754--$141,754
Advertising$132,919--$132,919
Payroll Taxes$81,536--$81,536
Conferences and Meetings$31,751--$31,751
Interest$13,649--$13,649
Total Functional Expenses$4,262,338$0$0$4,262,338
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Regular Shares$38,418,349
Share Certificates$18,893,585
Share Drafts$13,279,047
Irakeogh Accounts$8,840,695
Money Market Shares$7,727,804
Non-member Deposits$356,272
All Other Shares$105,289
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Members or stockholder classes and rights Part VI line 6

“The charter and bylaws call for an annual election of directors by the members. Each member is entitled to one vote irrespective of the number of shares/deposits.”

Member election for additional members Part VI line 7A

“The charter and bylaws call for an annual election of directors by the members. Each member is entitled to one vote irrespective of the number of shares/deposits. The candidates for directors are nominated by a nominating committee appointed by the board of directors. The directors are elected at an annual meeting called for in the bylaws.”

Governing body decisions Part VI line 7B

“The charter and bylaws call for an annual election of directors by the members. Each member is entitled to one vote irrespective of the number of shares/deposits. The candidates for directors are nominated by a nominating committee appointed by the board of directors. The directors are elected at an annual meeting called for in the bylaws.”

Governing body meeting documentation Part VI line 8A

“Under the bylaws, the directors meet monthly to review the operations of the credit union. Their actions are documented in written monthly minutes. The board of directors approve the operating policies that direct management in the day-to-day operations of the credit union.”

Committee meeting documentation Part VI line 8B

“The board of directors appoint committees to oversee specific operations of the credit union including an audit committee, which hires an independent auditor to perform an annual audit of the credit union, and a personnel committee which recommends an overall compensation plan for the credit union as a whole. Committee minutes are maintained. Committee recommendations are voted on/approved by the full board of directors.”

Form 990 governing body review Part VI line 11

“The form 990 will be made available to all board members at their next board meeting following receipt of completed return.”

Conflict of interest policy compliance Part VI line 12C

“The credit union has a written conflict of interest policy. All officers, directors, and key employees are required to disclose annually any interest that could give rise to conflicts. All material contracts are approved by the board of directors.”

CEO executive director top management comp Part VI line 15A

“The personnel committee recommends compensation for the ceo, management, and staff based on an annual survey of compensation of credit unions of comparable size and job classifications and other factors. The overall compensation plan, including ceo and management compensation, is reviewed/approved by the board of directors. For staff, the ceo and/or department managers complete annual employee evaluations and are authorized to set staff compensation within the range approved by the personnel committee and board of directors.”

Other officer or key employee compensation Part VI line 15B

“The personnel committee recommends compensation for the ceo, management and staff based on an annual survey of compensation of credit unions of comparable size and job classifications and other factors. The overall compensation plan, including ceo and management compensation, is reviewed/approved by the board of directors. For staff, the ceo and/or department managers complete annual employee evaluations and are authorized to set staff compensation within the range approved by the personnel committee and board of directors.”

Form 990 availability to public Part VI line 18

“Upon request, copies of the credit unions annual form 990 are provided to any member or non-member that requests a copy.”

Governing documents etc available to public Part VI line 19

“Written copies of policies and procedures are provided to members upon request. Monthly financial reports are posted in the lobby for members review.”

Filing and Contact Details

Filer

Filer Name
Lowland Credit Union
EIN
62-0671754
Address
622 WEST FIRST NORTH STREET, MORRISTOWN, TN 37814-4544

Signing Officer

Name
Mark Creech
Title
Presidentceo
Phone
4235818345
Signed
2018-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Creech
Formed
1953
Legal Domicile
Tn
Voting Board Members
9
Independent Board Members
9
Employees
39
Volunteers
9

Preparer

Firm
Peters and Associates
Address
9050 Executive Prk Dr Ste 220A, Knoxville, TN 37923
Preparer
Craig Peters
Phone
8656947128
Supplemental Narrative

Additional Explanations

Significant program services not listed on prior year return Part III line 2

“The credit union implemented an indirect lending program.”

Cessation of or significant change to any program service Part III line 3

“The credit union implemented an indirect lending program.”

Explanation of other changes in net assets or fund balances Part XI line 9

“The unrealized losses on the debt securities were caused by interest rate increases and market dislocation. These securities are currently performing as expected. Management does not consider the investments to be other-than-temporarily impaired and the credit union has the ability and intent to hold the investments to full recovery of the cost basis. The recovery will occur over their weighted-average estimated remaining life.”

General explanation attachment

“The credit union has a written whistleblower policy. The policy is reviewed annually by the board of directors.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9PRESIDENTCEO
IRS990/Form990PartVIISectionAGrp/TitleTxt10EXECUTIVE VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt11VP OF LENDING
IRS990/Form990PartVIISectionAGrp/TitleTxt12BRANCH MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BRANCH MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt14FORMER SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt15FORMER BOARD CHAIRMAN
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IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0STATE CHARTERED CREDIT UNION MUTUALLY OWNED BY OUR 12,690 MEMBERS, TO PROMOTE THRIFT, ISSUE SHARES AND MAINTAIN ACCOUNTS, AND MAKE LOANS TO OUR MEMBERS. FUNDS NOT NEEDED FOR LIQUIDITY OR FOR LOANS ARE TEMPORARILY INVESTED.
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt0253749
IRS990/OtherExpensesGrp/Desc0OFFICE OPERATIONS
IRS990/OtherExpensesGrp/Desc1PROVISION FOR LOAN LOSSES
IRS990/OtherExpensesGrp/Desc2LOAN SERVICING
IRS990/OtherExpensesGrp/Desc3PROFESSIONAL & OUTSIDE
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IRS990/OtherExpensesGrp/ProgramServicesAmt1416111
IRS990/OtherExpensesGrp/ProgramServicesAmt2232613
IRS990/OtherExpensesGrp/ProgramServicesAmt3889257
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IRS990/PayrollTaxesGrp/TotalAmt081536
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0399197
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0521073
IRS990/PrincipalOfficerNm0MARK CREECH
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IRS990/ProgramServiceRevenueGrp/Desc1INVESTMENT INTEREST
IRS990/ProgramServiceRevenueGrp/Desc2FEE INCOME
IRS990/ProgramServiceRevenueGrp/Desc3OTHER INCOME
IRS990/ProgramServiceRevenueGrp/Desc4LOSS ON DISP OF ASSETS
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IRS990/PYTotalRevenueAmt03717628
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IRS990/ReconcilationRevenueExpnssAmt0-129638
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0true
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IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt02430206
IRS990ScheduleD/EquipmentGrp/BookValueAmt0179221
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01149594
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt01328815
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt02249312
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt122650000
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt2515466
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt3836183
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0AVAILABLE FOR SALE SECURITIES
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1S&LS MUTUAL SAVINGS BANK
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2CORPORATE CREDIT UNIONS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3NCUSIF DEPOSIT
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0F
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0ACCRUED INTEREST ON LOANS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ACCRUED INTEREST ON INVESTMENTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2ALL OTHER ASSETS LESS PREPAIDS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3FORECLOSED AND REPOSSESSED ASSETS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt013279047
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt138418349
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SHARE DRAFTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1REGULAR SHARES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2MONEY MARKET SHARES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3SHARE CERTIFICATES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4IRAKEOGH ACCOUNTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc5ALL OTHER SHARES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc6NON-MEMBER DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02657176
IRS990ScheduleD/TotalBookValueProgramRltdAmt026250961
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0CALVIN L LACEY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1CECIL MILLS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0FORMER SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1FORMER BOARD CHAIRMAN
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CHARTER AND BYLAWS CALL FOR AN ANNUAL ELECTION OF DIRECTORS BY THE MEMBERS. EACH MEMBER IS ENTITLED TO ONE VOTE IRRESPECTIVE OF THE NUMBER OF SHARES/DEPOSITS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CHARTER AND BYLAWS CALL FOR AN ANNUAL ELECTION OF DIRECTORS BY THE MEMBERS. EACH MEMBER IS ENTITLED TO ONE VOTE IRRESPECTIVE OF THE NUMBER OF SHARES/DEPOSITS. THE CANDIDATES FOR DIRECTORS ARE NOMINATED BY A NOMINATING COMMITTEE APPOINTED BY THE BOARD OF DIRECTORS. THE DIRECTORS ARE ELECTED AT AN ANNUAL MEETING CALLED FOR IN THE BYLAWS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CHARTER AND BYLAWS CALL FOR AN ANNUAL ELECTION OF DIRECTORS BY THE MEMBERS. EACH MEMBER IS ENTITLED TO ONE VOTE IRRESPECTIVE OF THE NUMBER OF SHARES/DEPOSITS. THE CANDIDATES FOR DIRECTORS ARE NOMINATED BY A NOMINATING COMMITTEE APPOINTED BY THE BOARD OF DIRECTORS. THE DIRECTORS ARE ELECTED AT AN ANNUAL MEETING CALLED FOR IN THE BYLAWS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UNDER THE BYLAWS, THE DIRECTORS MEET MONTHLY TO REVIEW THE OPERATIONS OF THE CREDIT UNION. THEIR ACTIONS ARE DOCUMENTED IN WRITTEN MONTHLY MINUTES. THE BOARD OF DIRECTORS APPROVE THE OPERATING POLICIES THAT DIRECT MANAGEMENT IN THE DAY-TO-DAY OPERATIONS OF THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS APPOINT COMMITTEES TO OVERSEE SPECIFIC OPERATIONS OF THE CREDIT UNION INCLUDING AN AUDIT COMMITTEE, WHICH HIRES AN INDEPENDENT AUDITOR TO PERFORM AN ANNUAL AUDIT OF THE CREDIT UNION, AND A PERSONNEL COMMITTEE WHICH RECOMMENDS AN OVERALL COMPENSATION PLAN FOR THE CREDIT UNION AS A WHOLE. COMMITTEE MINUTES ARE MAINTAINED. COMMITTEE RECOMMENDATIONS ARE VOTED ON/APPROVED BY THE FULL BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE FORM 990 WILL BE MADE AVAILABLE TO ALL BOARD MEMBERS AT THEIR NEXT BOARD MEETING FOLLOWING RECEIPT OF COMPLETED RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE CREDIT UNION HAS A WRITTEN CONFLICT OF INTEREST POLICY. ALL OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE ANNUALLY ANY INTEREST THAT COULD GIVE RISE TO CONFLICTS. ALL MATERIAL CONTRACTS ARE APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE PERSONNEL COMMITTEE RECOMMENDS COMPENSATION FOR THE CEO, MANAGEMENT, AND STAFF BASED ON AN ANNUAL SURVEY OF COMPENSATION OF CREDIT UNIONS OF COMPARABLE SIZE AND JOB CLASSIFICATIONS AND OTHER FACTORS. THE OVERALL COMPENSATION PLAN, INCLUDING CEO AND MANAGEMENT COMPENSATION, IS REVIEWED/APPROVED BY THE BOARD OF DIRECTORS. FOR STAFF, THE CEO AND/OR DEPARTMENT MANAGERS COMPLETE ANNUAL EMPLOYEE EVALUATIONS AND ARE AUTHORIZED TO SET STAFF COMPENSATION WITHIN THE RANGE APPROVED BY THE PERSONNEL COMMITTEE AND BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE PERSONNEL COMMITTEE RECOMMENDS COMPENSATION FOR THE CEO, MANAGEMENT AND STAFF BASED ON AN ANNUAL SURVEY OF COMPENSATION OF CREDIT UNIONS OF COMPARABLE SIZE AND JOB CLASSIFICATIONS AND OTHER FACTORS. THE OVERALL COMPENSATION PLAN, INCLUDING CEO AND MANAGEMENT COMPENSATION, IS REVIEWED/APPROVED BY THE BOARD OF DIRECTORS. FOR STAFF, THE CEO AND/OR DEPARTMENT MANAGERS COMPLETE ANNUAL EMPLOYEE EVALUATIONS AND ARE AUTHORIZED TO SET STAFF COMPENSATION WITHIN THE RANGE APPROVED BY THE PERSONNEL COMMITTEE AND BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9UPON REQUEST, COPIES OF THE CREDIT UNIONS ANNUAL FORM 990 ARE PROVIDED TO ANY MEMBER OR NON-MEMBER THAT REQUESTS A COPY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10WRITTEN COPIES OF POLICIES AND PROCEDURES ARE PROVIDED TO MEMBERS UPON REQUEST. MONTHLY FINANCIAL REPORTS ARE POSTED IN THE LOBBY FOR MEMBERS REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11THE CREDIT UNION IMPLEMENTED AN INDIRECT LENDING PROGRAM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt12THE CREDIT UNION IMPLEMENTED AN INDIRECT LENDING PROGRAM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt13THE UNREALIZED LOSSES ON THE DEBT SECURITIES WERE CAUSED BY INTEREST RATE INCREASES AND MARKET DISLOCATION. THESE SECURITIES ARE CURRENTLY PERFORMING AS EXPECTED. MANAGEMENT DOES NOT CONSIDER THE INVESTMENTS TO BE OTHER-THAN-TEMPORARILY IMPAIRED AND THE CREDIT UNION HAS THE ABILITY AND INTENT TO HOLD THE INVESTMENTS TO FULL RECOVERY OF THE COST BASIS. THE RECOVERY WILL OCCUR OVER THEIR WEIGHTED-AVERAGE ESTIMATED REMAINING LIFE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt14THE CREDIT UNION HAS A WRITTEN WHISTLEBLOWER POLICY. THE POLICY IS REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Members or stockholder classes and rights Part VI line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Member election for additional members Part VI line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing body decisions Part VI line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing body meeting documentation Part VI line 8a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Committee meeting documentation Part VI line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990 governing body review Part VI line 11

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$95,603,786
Liabilities
$87,667,985
Net assets
$7,935,801
Revenue
$4,132,700
Expenses
$4,262,338
Net income
-$129,638
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$2.51$3.10$0.59
2023Detailed filing. Detailed filing data is available for this year.$137$130$7.23$7.30$7.61$0.31
2022Detailed filing. Detailed filing data is available for this year.$136$129$7.41$6.33$5.65$0.68
2021Detailed filing. Detailed filing data is available for this year.$135$126$9.15$5.71$5.08$0.62
2020Detailed filing. Detailed filing data is available for this year.$116$107$8.84$5.06$4.51$0.55
2019Detailed filing. Detailed filing data is available for this year.$102$93.3$8.31$4.98$4.61$0.37
2018Detailed filing. Detailed filing data is available for this year.$99.8$91.8$7.97$4.46$4.52$0.06
2017Detailed filing. Detailed filing data is available for this year.$95.6$87.7$7.94$4.13$4.26$0.13
2016Detailed filing. Detailed filing data is available for this year.$89.5$81.5$8.06$3.72$3.81$0.09
2015Detailed filing. Detailed filing data is available for this year.$88.1$80.2$7.97$3.69$3.58$0.11
2014Detailed filing. Detailed filing data is available for this year.$84.3$76.6$7.68$3.77$3.75$0.02
2013Detailed filing. Detailed filing data is available for this year.$78.4$71.8$6.61$3.95$3.93$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$77.9$69.9$7.91$4.22
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$76.2$68.3$7.97$3.99
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$71.3$63.9$7.33$4.41