2024-09-30T12:40:57-05:00 2023-12-31 420714325 RSM US LLP 4650 EAST 53RD STREET DAVENPORT IA 528073479 990 2023-01-01 741237070 RALLY CREDIT UNION RALL 3619867300 2730 RODD FIELD ROAD CORPUS CHRISTI TX 78414 CARRIE HUFF CHIEF FINANCIAL OFFICER 3619867300 2024-09-17 1 1 JENIFER L CHASE P01306883 5638884000 2024-09-17 2023 2024-10-15 13:58:12Z DANA SISK 2730 RODD FIELD ROAD CORPUS CHRISTI TX 78414 295398561 0 X WWW.RALLYCU.COM X 1955 TX TO MEET THE FINANCIAL NEEDS AND GOALS OF OUR MEMBERS. PROVIDE SAVINGS, SHARE DRAFT AND SHARE CERTIFICATE ACCOUNTS AND AUTO, CONSUMER AND COMMERCIAL LOANS. 9 9 798 12 319445 0 0 0 237685261 272529425 8191811 22869136 0 0 245877072 295398561 0 0 0 0 50522265 56107616 0 0 0 122496932 185529152 173019197 241636768 72857875 53761793 4104675190 4302657272 3589789208 3739655182 514885982 563002090 TO MEET THE FINANCIAL NEEDS AND GOALS OF OUR MEMBERS. PROVIDE SAVINGS, SHARE DRAFT AND SHARE CERTIFICATE ACCOUNTS AND AUTO, CONSUMER AND COMMERCIAL LOANS. 0 0 RALLY CREDIT UNION IS A COOPERATIVE, MEMBER-OWNED, NON-PROFIT PROVIDER OF FINANCIAL SERVICES TO MEMBERS. WE PROVIDE AUTO, HOME AND BUSINESS LOANS TO THE COMMUNITY. AS OF DECEMBER 31, 2023, THE TOTAL NUMBER OF LOANS ISSUED WAS 120,807 AND THE TOTAL OUTSTANDING BALANCE OF LOANS ISSUED WAS $3,708,064,244. RALLY CREDIT UNION PROVIDES DEPOSIT ACCOUNTS TO MEMBERS. AS OF DECEMBER 31, 2023, THE TOTAL NUMBER OF MEMBERS WAS 221,386 WITH THE TOTAL NUMBER OF DEPOSIT ACCOUNTS ISSUED OF 400,661,AND TOTAL OUTSTANDING BALANCE OF DEPOSIT ACCOUNTS IN THE AMOUNT OF $3,576,635,920. RALLY CREDIT UNION ALSO PROVIDES ATM & ITM ACCESS TO MEMBERS. DURING 2023, THE TOTAL NUMBER OF ATM & ITM TRANSACTIONS FOR OUR MEMBERS AT OUR MACHINES TOTALED 2,020,226. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 123878 0 1 798 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 1 0 1 1 1 0 0 X CARRIE HUFF CFO 3619867300 2730 RODD FIELD ROAD CORPUS CHRISTI TX 78414 JOHN CHAPMAN CHAIR 3.00 X X 14400 0 0 THELMA GARZA MANDEL DIRECTOR 3.00 X 0 0 0 THERESA GONZALES SECRETARY 3.00 X X 13200 0 0 KENDRA KINNISON TREASURER 3.00 X X 12300 0 0 SYLVIA MARTINEZ DIRECTOR 3.00 X 12000 0 0 PEDRO RIVERA JR DIRECTOR 3.00 X 12600 0 0 RICHARD B STONE DIRECTOR 3.00 X 12600 0 0 GERALD VILLARREAL VICE CHAIR 3.00 X X 12000 0 0 ROBERT WESTRUP DIRECTOR 3.00 X 12300 0 0 GERRY MORROW FORMER PRESIDENT/CEO 40.00 X 586730 0 19678 DANA SISK PRESIDENT/CEO 40.00 X 707018 0 68652 CARRIE HUFF CHIEF FINANCIAL OFFICER 40.00 X 343643 0 54142 DANIEL DIBBLE CHIEF LENDING OFFICER 40.00 X 435411 0 50906 SHANNON SRP CHIEF TECHNOLOGY OFFICER 40.00 X 291856 0 70180 ROMAN ESCOBAR CHIEF REAL ESTATE OFFICER 40.00 X 418883 0 53478 CYNTHIA RAMOS CHIEF OPERATIONS OFFICER 40.00 X 461312 0 40068 VIRGINIA WHITHAM CHIEF HUMAN RESOURCES OFFICER 40.00 X 386061 0 46640 ASHLEY SMITH CHIEF MARKETING OFFICER 40.00 X 362897 0 57860 CLARE FOWLER FORMER SVP OPERATIONS TECHNOLOGY 40.00 X 262952 0 29305 RICHARD PLATZ FORMER SVP CONSUMER LENDING 40.00 X 173121 0 16794 JAMIE AGUILAR VP MORTGAGE ORIGINATION 40.00 X 207034 0 25279 GERALD PENNINGTON VP INDIRECT AUTO LENDING 40.00 X 249268 0 40609 ANITA CADENA VP AUDIT COMPLIANCE 40.00 X 206947 0 26653 TERRI YOUNG VP BRANCH OPERATIONS 40.00 X 203140 0 18813 MARIA KARACA SVP COMMERCIAL LENDING 40.00 X 194404 0 18281 5592077 0 637338 20 0 1 0 FISERV PO BOX 208457 DALLAS TX 75320 SOFTWARE AND OPERATION SERVICES 5016309 MOOREHEAD DOTTS RYBAK 545 N UPPER BROADWAY STE 1100 CORPUS CHRISTI TX 78401 PROFESSIONAL SERVICES 4383771 CENTRE 16801 GREENSPOINT PARK DRIVE HOUSTON TX 77060 PROFESSIONAL SERVICES 2947707 FTSI 406 E HUNTINGTON DR STE 100 MONROVIA CA 91016 PROFESSIONAL SERVICES 2801270 Q2 EBANKING PO BOX 205970 DALLAS TX 75320 PROFESSIONAL SERVICES 2475826 165 INTEREST ON LOANS 522100 209115673 209115673 FEE INCOME 522100 34514593 34319802 194791 INTERCHANGE INCOME 522100 22100538 22100538 INSURANCE & OTHER OPERATING INCOM 522100 6746899 6622245 124654 NON-OPERATING INCOME 522100 51722 51722 272529425 22417564 22417564 451572 0 451572 451572 451572 295398561 272209980 319445 22869136 4937587 36715249 1671820 9691637 3091323 753093 245500 6249933 5178375 7424152 10971774 5253708 512929 7442392 6964882 590644 DIVIDENDS PAID TO MEMBE 78923695 PROVISION FOR CREDIT LO 36374803 ATM/ITM/DEBIT 13279576 LOAN SERVICING 5363696 241636768 396902073 485142653 3548745441 3650453791 3285124 3530115 134784679 63626412 70655398 71158267 2511512 11663100 82575642 80709346 4104675190 4302657272 23717475 13019263 0 150000000 3566071733 3576635919 3589789208 3739655182 X 0 0 0 0 514885982 563002090 514885982 563002090 4104675190 4302657272 X 53761793 -5645685 X X 0 0 0 12560824 12560824 74363298 23806830 50556468 1207893 635631 572262 46629557 39160873 7468684 23107 23078 29 71158267 SHARE ACCOUNTS (CHECKING/SAVINGS/CDS) 3576635919 3576635919 X 1 1 X X X 0 1 0 DANA SISK PRESIDENT/CEO 639812 0 50000 0 17206 0 41207 0 27445 0 775670 0 0 0 GERRY MORROW FORMER PRESIDENT/CEO 432071 0 150000 0 4659 0 13200 0 6478 0 606408 0 0 0 CYNTHIA RAMOS CHIEF OPERATIONS OFFICER 423025 0 35000 0 3287 0 28299 0 11769 0 501380 0 28578 0 DANIEL DIBBLE CHIEF LENDING OFFICER 409283 0 25000 0 1128 0 36821 0 14085 0 486317 0 35316 0 ROMAN ESCOBAR CHIEF REAL ESTATE OFFICER 383404 0 35000 0 479 0 39442 0 14036 0 472361 0 34616 0 VIRGINIA WHITHAM CHIEF HUMAN RESOURCES OFFICER 350053 0 35000 0 1008 0 33167 0 13473 0 432701 0 28700 0 ASHLEY SMITH CHIEF MARKETING OFFICER 326958 0 35000 0 939 0 33429 0 24431 0 420757 0 26684 0 CARRIE HUFF CHIEF FINANCIAL OFFICER 306627 0 35000 0 2016 0 43082 0 11060 0 397785 0 28874 0 SHANNON SRP CHIEF TECHNOLOGY OFFICER 256116 0 35000 0 740 0 44023 0 26157 0 362036 0 0 0 CLARE FOWLER FORMER SVP OPERATIONS TECHNOLOGY 240750 0 20000 0 2202 0 10356 0 18949 0 292257 0 13263 0 GERALD PENNINGTON VP INDIRECT AUTO LENDING 233513 0 15000 0 755 0 21304 0 19305 0 289877 0 14540 0 ANITA CADENA VP AUDIT COMPLIANCE 191432 0 15000 0 515 0 8549 0 18104 0 233600 0 0 0 JAMIE AGUILAR VP MORTGAGE ORIGINATION 196724 0 10000 0 310 0 8504 0 16775 0 232313 0 0 0 TERRI YOUNG VP BRANCH OPERATIONS 191703 0 10000 0 1437 0 8128 0 10685 0 221953 0 0 0 MARIA KARACA SVP COMMERCIAL LENDING 179113 0 15000 0 291 0 7779 0 10502 0 212685 0 0 0 RICHARD PLATZ FORMER SVP CONSUMER LENDING 155512 0 15000 0 2609 0 7086 0 9708 0 189915 0 0 0 PART I, LINE 1A IN TAX YEAR 2023, RALLY CREDIT UNION REIMBURSED TRAVEL EXPENSES FOR THE COMPANIONS TO DANA SISK, JOHN CHAPMAN, GERALD VILLARREAL, KENDRA KINNISON, THERESA GONZALES, RICHARD STONE, THELMA GARZA MANDEL, SYLVIA MARTINEZ, PEDRO RIVIERA JR, AND ROBERT WESTRUP. THE AMOUNTS ARE INCLUDED IN REPORTABLE COMPENSATION IN PART VII AND SCHEDULE J. PART I, LINE 4B THE FOLLOWING INDIVIDUALS PARTICIPATED IN A NON-QUALIFIED RETIREMENT PLAN IN 2023 SPONSORED BY RALLY CREDIT UNION. THE BENEFIT ACCRUAL AMOUNTS AND DISTRIBUTION AMOUNTS ARE INCLUDED IN REPORTABLE COMPENSATION IN PART VII AND SCHEDULE J: ASHLEY SMITH - $20,229 BENEFIT ACCRUAL, $95,685 DISTRIBUTION DANA SISK - $29,177 BENEFIT ACCRUAL SHANNON SRP - $33,916 BENEFIT ACCRUAL DANIEL DIBBLE - $26,773 BENEFIT ACCRUAL, $126,639 DISTRIBUTION ROMAN ESCOBAR - $26,242 BENEFIT ACCRUAL, $124,128 DISTRIBUTION CLARE FOWLER - $7,152 BENEFIT ACCRUAL, $58,155 DISTRIBUTION GERALD PENNINGTON - $11,023 BENEFIT ACCRUAL, $52,139 DISTRIBUTION CYNTHIA RAMOS - $15,560 BENEFIT ACCRUAL, $124,757 DISTRIBUTION CARRIE HUFF - $40,050 BENEFIT ACCRUAL, $49,615 DISTRIBUTION VIRGINIA WHITHAM - $21,757 BENEFIT ACCRUAL, $102,915 DISTRIBUTION FORM 990, PART VI, SECTION A, LINE 6 RALLY CREDIT UNION HAS MEMBERS AS SPECIFIED IN ITS BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A RALLY CREDIT UNION MEMBERS HAVE THE POWER TO ELECT MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED IN DETAIL BY THE CHIEF FINANCIAL OFFICER BEFORE IT IS SIGNED. THE FORM IS THEN PROVIDED TO THE FINANCE COMMITTEE AND BOARD OF DIRECTORS PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 15A RALLY CREDIT UNION USES A THIRD-PARTY CONSULTANT, COMPEASE, TO COMPARE COMPENSATION OF SIMILAR POSITIONS AT COMPARABLE ORGANIZATION'S. RALLY CREDIT UNION'S COMPENSATION DATA IS MEASURED AGAINST THIS INDUSTRY SPECIFIC INFORMATION BY THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS THEN REVIEWS AND APPROVES COMPENSATION FOR THE PRESIDENT'S POSITION. RALLY CREDIT UNION KEEPS CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING RELATED TO THE DELIBERATION AND DECISIONS RELATED TO THE COMPENSATION SETTING PROCESS. THE LAST TIME THIS PROCESS OCCURRED WAS IN FEBRUARY 2024. FORM 990, PART VI, SECTION C, LINE 19 RALLY CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST IN THE SAME TIME AND MANNER AS OTHER DISCLOSURES REQUIRED UNDER INTERNAL REVENUE CODE SECTION 6104. FORM 990, PART XI, LINE 9: CHANGE IN OTHER COMPREHENSIVE INCOME 14,058,301. CURRENT EXPECTED CREDIT LOSS IMPLEMENTATION -19,703,986. FORM 990, PART IV, LINE 12A & PART XII, LINE 2B: THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AUDITED ON A SEPARATE BASIS BY AN INDEPENDENT ACCOUNTANT. HOWEVER, THE FINANCIAL STATEMENTS ARE AUDITED ON A FISCAL YEAR-END BASIS OF JUNE 30TH, WHILE THE ORGANIZATION'S TAX YEAR-END IS DECEMBER 31ST.