2024-05-13T13:35:20+00:00 2023-12-31 440160260 FORVIS LLP 201 N Illinois Street Suite 700 Indianapolis IN 46204 990 2023-01-01 350885381 Centra Credit Union CENT 8123140273 3801 TUPELO DRIVE PO BOX 789 COLUMBUS IN 47201 Sarah Stair VP Accounting 8123140282 2024-05-13 true Sarah Stair 999009999 true Michael J Summers P00838533 3173834000 2024-05-15 2023 2023-04-26 12:10:37Z RICK SILVERS 3801 TUPELO DRIVE PO BOX 789 COLUMBUS IN 47201 125422457 false X WWW.CENTRA.ORG X 1997 IN STATE CHARTERED AND FEDERALLY INSURED CREDIT UNION WHICH GRANTS CONSUMER LOANS INCLUDING CREDIT CARDS, MORTGAGE LOANS, AND BUSINESS LOANS TO ITS MEMBERS. 8 0 495 0 387775 0 0 0 93694103 119281464 5266053 6140993 0 0 98960156 125422457 0 0 0 0 28269184 30707986 0 0 0 55847987 85536139 84117171 116244125 14842985 9178332 2045720209 2076967433 1829709487 1856835053 216010722 220132380 STATE CHARTERED AND FEDERALLY INSURED CREDIT UNION WHICH GRANTS CONSUMER LOANS INCLUDING CREDIT CARDS AND OPEN-END CREDIT, MORTGAGE LOANS AND BUSINESS LOANS TO ITS MEMBERS. false false CREDIT UNION PROGRAMS. ALL ACTIVITIES ARE STATE CHARTERED CREDIT UNION ACTIVITIES WHICH ARE EXEMPT UNDER SECTION 501(C)(14) 0 false false false false false false true false true true false false true false false true false false false false false false false false false false false true false true false false false false false false false false true false false false true 124341 0 true 495 true true true false false false false false false false X 8 0 false false false false true true false true true false true true false true true true true true true false false IN X SAMANTHA STIGDON 8123140273 3801 TUPELO DRIVE PO BOX 789 COLUMBUS IN 47201 Chip Orben DIRECTOR 2.0 X 11312 0 0 DONALD JACKSON VICE CHAIR 2.0 X 11312 0 0 JIM BICKEL BOARD CHAIR 1.3 X 14784 0 0 JOSEPH BROWN SECRETARY/TREASURER 2.1 X 10752 0 0 KESAVAN VENUGOPAL DIRECTOR 1.6 X 10752 0 0 KEVINA SCHUMAKER DIRECTOR 1.9 X 10752 0 0 MARY STROH DIRECTOR 2.1 X 12432 0 0 RANDY PROFITT DIRECTOR 2.0 X 12432 0 0 BRAD DAVIS CHIEF GROWTH OFFICER 45.0 X 272924 0 28245 DAVID MANN CHIEF FINANCIAL OFFICER 45.0 X 346049 0 22759 PATRICIA KNORR CHIEF DEVELOPMENT OFFICER 45.0 X 283123 0 31104 PAUL ADRIAN CHIEF INFORMATION OFFICER 45.0 X 252455 0 17341 RICK SILVERS CEO 45.0 X 688817 0 46091 Swaminathan Seetharaman CHIEF EXPERIENCE OFFICER 45.0 X 178962 0 28785 Brent Parks SVP TECHNOLOGY 45.0 X 178683 0 33318 Carl Fry SVP FINANCE 45.0 X 171616 0 17690 DOUG SHARKEY SVP MORTGAGE LOAN DELIVERY 45.0 X 206424 0 12173 KARL KISSINGER SVP BUSINESS SERVICES 45.0 X 189208 0 41971 MELISSA JEWELL SVP TEAM MEMBER EXPERIENCE 45.0 X 185054 0 17207 3047843 0 296684 34 false true false FISERV PO BOX 934057 ATLANTA GA 31193 SOFTWARE 4615617 MASTERCARD 100 MANHATTANVILLE ROAD PURCHASE NY 10577 CREDIT PROCESSOR 2070233 QSI INC 107 SCHULER DRIVE BARDSTOWN KY 40004 STORAGE 1751164 PSCU FINANCIAL SERVICES 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT PROCESSOR 1115789 Converge One 10900 NESBITT AVE S BLOOMINGTON MN 55437 INTERNET TECHNOLOGY 868925 46 0 INTEREST - LOANS 522100 86212757 86212757 SERVICE & MEMBER FEES 522100 11631045 11243270 387775 CREDIT CARD INCOME 522200 10874592 10874592 INSURANCE COMMISSIONS 524113 2651222 2651222 INT BEARING DEPOSITS 522100 4156991 4156991 3754857 3754857 0 0 119281464 5980389 5980389 0 0 160604 0 160604 160604 160604 0 0 0 0 0 125422457 125034682 387775 0 X 2321423 22977681 666730 3137820 1604332 132440 281618 0 1174018 2224571 5674358 4603776 24347 287154 30056562 2886614 381355 BAD DEBT EXPENSE 14036807 COLLECTIONS 1166954 LOAN SERVICING EXPENSE 3142384 OUTSIDE SERVICES 3966111 15497070 116244125 21423824 14457424 85700402 148294692 10604226 10795623 0 0 1596769559 1598511662 69446432 25097907 42613325 44348525 251000325 222288288 0 37608548 38271219 2045720209 2076967433 2164132 2324283 0 0 1827545355 1854510770 1829709487 1856835053 X 216010722 220132380 216010722 220132380 2045720209 2076967433 X 9178332 1903362 -6960036 X false true X true false false true X 3749071 3749071 40293784 10708456 29585328 2781922 1775859 1006063 22198353 12613592 9584761 423302 423302 44348525 AVAILABLE FOR SALE SECURITIES 219698513 F HELD TO MATURITY SECURITIES 2589775 C 222288288 MEMBERS' DEPOSITS 1754738353 FHLB ADVANCES 66000000 OTHER LIABILITIES 33772417 1854510770 80766999 1903362 0 1903362 78863637 46558820 46558820 125422457 69685305 0 0 69685305 46558820 46558820 116244125 Schedule D, Part X, Line 2 ASC 740 DISCLOSURE: MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. Schedule D, Part IV, Line 2b Explanation of escrow agreement ESCROW ACCOUNT: CENTRA CREDIT UNION ACTS AS A THIRD PARTY TRUSTEE THAT RECEIVES AND DISBURSES FUNDS TO PAY OBLIGATIONS OF ACCOUNT HOLDERS. Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Interest Expense - 31638715 Loan Losses - 14920105 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements Interest Expense - 31638715 Loan Losses - 14920105 X false true X false true false RICK SILVERS CEO 579354 0 100463 0 9000 0 9900 0 36191 0 734908 0 0 0 DAVID MANN CHIEF FINANCIAL OFFICER 305815 0 40234 0 0 0 8266 0 14493 0 368808 0 0 0 PATRICIA KNORR CHIEF DEVELOPMENT OFFICER 247732 0 35391 0 0 0 7432 0 23672 0 314227 0 0 0 BRAD DAVIS CHIEF GROWTH OFFICER 239253 0 33671 0 0 0 8188 0 20057 0 301169 0 0 0 PAUL ADRIAN CHIEF INFORMATION OFFICER 220897 0 31558 0 0 0 6627 0 10714 0 269796 0 0 0 Swaminathan Seetharaman CHIEF EXPERIENCE OFFICER 178962 0 0 0 0 0 3525 0 25260 0 207747 0 0 0 KARL KISSINGER SVP BUSINESS SERVICES 169619 0 19589 0 0 0 5102 0 36869 0 231179 0 0 0 DOUG SHARKEY SVP MORTGAGE LOAN DELIVERY 182135 0 24289 0 0 0 5478 0 6695 0 218597 0 0 0 MELISSA JEWELL SVP TEAM MEMBER EXPERIENCE 163950 0 21104 0 0 0 4932 0 12275 0 202261 0 0 0 Brent Parks SVP TECHNOLOGY 170743 0 7940 0 0 0 2680 0 30638 0 212001 0 0 0 Carl Fry SVP FINANCE 154341 0 17275 0 0 0 5148 0 12542 0 189306 0 0 0 Schedule J, Part I, Line 1a Health or social club dues or initiation fees CENTRA CREDIT UNION DOES NOT HAVE A WRITTEN POLICY REGARDING PAYMENT OR REIMBURSEMENT OF THE EXPENSES DESCRIBED IN 1A. HOWEVER, THE ORGANIZATION DID REQUIRE SUBSTANTIATION PRIOR TO REIMBURSING THE EXPENSES INCURRED. RICK SILVERS RECEIVED CLUB DUES AND THAT WAS TREATED AS TAXABLE INCOME. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan PARTICIPATION IN SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN: CENTRA CREDIT UNION PARTICIPATES IN A 457(F) PLAN. TODD CHECK PARTICIPATED AND NO FUNDS WERE ADDED IN 2023. IN ADDITION THE INDIVIDUALS LISTED BELOW ALSO PARTICIPATE IN SPLIT DOLLAR LIFE INSURANCE PLANS: - BRAD DAVIS - PARTICIA KNORR - DAVID MANN - NORB ADRIAN - RICK SILVERS Rick Silvers CEO X 4000000 4217875 false true true Dave Mann Officer X 1850000 2010146 false true true Brad Davis Officer X 725000 787760 false true true Patty Knorr Officer X 1600000 1738505 false true true Norb Adrian Officer X 1900000 2041337 false true true 10795623 Form 990, Part VI, Line 6 Classes of members or stockholders EVERY MEMBER OF THE CREDIT UNION HAVING PURCHASED ONE OR MORE SHARES OF STOCK IS A STOCKHOLDER. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body ELIGIBLE MEMBERS RECEIVE ONE VOTE TO ELECT BY MAJORITY THE DIRECTORS OF THE CREDIT UNION. Form 990, Part VI, Line 11b Review of form 990 by governing body THE FORM 990 IS REVIEWED BY THE CFO PRIOR TO FILING THE RETURN. THE FORM 990 IS ALSO REVIEWED BY AN INDEPENDENT ACCOUNTING FIRM. Form 990, Part VI, Line 12c Conflict of interest policy CONFLICT OF INTEREST POLICIES ARE SIGNED ANNUALLY BY EACH BOARD MEMBER AND OFFICER OF THE ORGANIZATION AND REVIEWED. IF A BOARD MEMBER HAS A CONFLICT THEY RECUSE THEMSELVES FROM DISCUSSIONS AND VOTING IN THAT AREA. Form 990, Part VI, Line 15a Process to establish compensation of top management official PAY INCREASES TO TOP MANAGEMENT ARE APPROVED AS PART OF THE ANNUAL REVIEW PROCESS WHERE CENTRA COMPARES CHANGES AGAINST MARKET DATA WHERE AVAILABLE. THIS IS ULTIMATELY APPROVED BY THE BOARD COMPENSATION COMMITTEE. Form 990, Part VI, Line 19 Required documents available to the public GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part VIII, Line 2f Other Program Service Revenue - Total Revenue: 3754857, Related or Exempt Function Revenue: 3754857, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part IX, Line 11g Other Expenses FRANCHISE TAXES PAID - Total Expense: 219531, Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; ASSOCIATION DUES - Total Expense: 115974, Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; MISCELLANEOUS - Total Expense: 15161565, Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; Form 990, Part XI, Line 9 Other changes in net assets or fund balances CHANGE IN ACCOUNTING PRINCIPLE - -6960036; CENTRA FINANCIAL SERVICES LLC 501 WASHINGTON ST COLUMBUS IN 47201 352157620 BANKING IN 2968662 11376514 CENTRA CU CFS TITLE LLC 501 WASHINGTON ST COLUMBUS IN 47201 843390715 TITLE SERVICE IN 1178944 2535478 CENTRA CU