2024-11-15T13:34:09+00:00 2023-12-31 440160260 Forvis Mazars LLP 820 Massachusetts Ave Suite 1370 Indianapolis IN 46204 990 2023-01-01 350928620 Financial Center First Credit Union FINA 3179166233 7101 EAST 56TH STREET INDIANAPOLIS IN 462260501 RYAN W COOK EVP OF FINANCE OPERATIONS 3179166233 2024-11-15 true Michael Summers P00838533 3173834000 2024-11-15 2023 2024-10-15 13:58:12Z RYAN W COOK 7101 EAST 56TH STREET INDIANAPOLIS IN 462260501 53719211 false X WWW.FCFCU.COM X 2015 IN FINANCIAL CENTER FIRST CREDIT UNION'S MISSION IS TO IMPROVE THE FINANCIAL LIVES OF ITS MEMBERS 10 0 385 34 181329 0 0 43212154 53719211 -245454 -148469 0 0 42966700 53570742 155774 42846 0 15710950 16354622 0 0 22206276 29242532 38073000 45640000 4893700 7930742 839916000 841887000 755273634 753483961 84642366 88403039 FINANCIAL CENTER FIRST CREDIT UNION'S MISSION IS TO IMPROVE THE FINANCIAL LIVES OF ITS MEMBERS. false false FINANCIAL CENTER FIRST CREDIT UNION PROVIDES FINANCIAL SERVICES TO ITS 68,375 MEMBERS. 0 false false true false false false false false true true false false true false false true false false false false false false false false false true false true false true false false false false false false false false true false false false true 36846 0 true 385 true true true false false false false false true false X 10 0 false false false false true true true true true false true true true true true true true true true true false IN X RYAN W COOK 3179166233 7101 E 56TH ST INDIANAPOLIS IN 46226 BRYAN FLUKE DIRECTOR 5.0 0.0 X 18000 0 0 CLAUDIA FLUENTES DIRECTOR 5.0 0.0 X 18000 0 0 JAMES BENOIT DIRECTOR 5.0 0.0 X 18000 0 0 JASON PICKETT SECRETARY 5.0 0.0 X 18000 0 0 JEANINE LUGO DIRECTOR 5.0 0.0 X 18000 0 0 JEFFERY GEORGE DIRECTOR 5.0 0.0 X 18000 0 0 JR KENEIPP FIRST CHAIRMAN 5.0 0.0 X 18000 0 0 LARRY MARCUM CHAIRPERSON 5.0 0.0 X 27000 0 0 THOMAS SPAHR SECOND VICE CHAIRMAN 5.0 0.0 X 18000 0 0 WILLIAM STEVENS DIRECTOR 5.0 0.0 X 18000 0 0 AARON ALSUP VP OF ERM 40.0 0.0 X 140963 0 22354 BILLY WELLS COO 40.0 0.0 X 203131 0 8077 BRANDON TODD ANDERSON (START 042023) VP of LENDING 40.0 0.0 X 80110 0 11507 CAMERON MINGES CEO/PRESIDENT 40.0 0.0 X 311455 0 29270 CARL BRITTON VP OF LENDING 40.0 0.0 X 183581 0 22828 CAROL KINSER EPPERSON (START 022023) VP OF MARKETING 40.0 0.0 X 123765 0 19646 CHRIS LAMBERT (START 022023) VP OF FACILITIES 40.0 0.0 X 124241 0 5315 CHRISTINE STEFANI VP OF HR 40.0 0.0 X 161088 0 15269 CHRISTOPHER SIBILA SVP INFORMATION TECHNOLOGY 40.0 0.0 X 214616 0 24782 DIANNA MILLER VP OF ACCOUNTING 40.0 0.0 X 143578 0 27577 DUSTY SIMMONS CHIEF STRATEGY OFFICER 40.0 0.0 X 199102 0 15774 FRANCES TOOLEY CHIEF DEVELOPMENT OFFICER 40.0 0.0 X 136669 0 23013 JAMES DAVIDSON VP OF FINANCIAL WELLNESS 40.0 0.0 X 130690 0 18822 JAMES NORTON VP OF STRATEGIC DEVELOPMENT 40.0 0.0 X 144322 0 14564 JENNIFER RUE CHIEF RISK & COMPL. OFFICER 40.0 0.0 X 230238 0 17683 JOAN KERULIS DIR INT AUDIT 40.0 0.0 X 121507 0 13772 JOE PERRIN (START 022023) VP OF COMMERCIAL LENDING 40.0 0.0 X 124738 0 13888 KYLE ENDRES (START 022023) VP OF COMMUNICATION 40.0 0.0 X 115176 0 10405 OLIVIA GARMAN (START 022023) VP OF INTERNAL OPS 40.0 0.0 X 116596 0 19827 RYAN COOK (START 092023) EVP FINANCE 40.0 0.0 X 69888 0 4106 SHERRY SIGLER VP OF RETAIL OPERATIONS 40.0 0.0 X 123108 0 26630 JON STONEBRAKER BUSINESS INTELLIGENCE MANAGER 40.0 0.0 X 127336 0 13365 KRISTEN EITELJORGE AVP CORE SERVICES 40.0 0.0 X 101229 0 12784 MACKENZIE KEPLEY AVP OF COMPLIANCE 40.0 0.0 X 105423 0 6919 MATT DEARMOND IT INFRASTRUCTURE ENGINEER 40.0 0.0 X 105578 0 14158 MATT TIELKER FINANCIAL ADVISOR 40.0 0.0 X 103109 0 25682 MICHAEL NELSON FORMER CHIEF FINANCIAL OFFICER 0.0 0.0 X 376418 0 0 4306655 0 438017 27 false true false FISERV PO BOX 934057 ATLANTA GA 311934057 DATA PROCESSING 1458596 SWBC PO BOX 795027 SAN ANTONIO TX 782795027 COLLECTION SERVICES 834113 TRACE3 PO BOX 847467 LOS ANGELES CA 900847467 SOFTWARE & SERVICE 666175 VISA USA 31 ROCHESTER AVENUE SUITE 200 PORTSMOUTH NH 038012914 VISA CREDIT CARD PROCESSING 631629 MERIDIAN LINK INC PO BOX 846822 LOS ANGELES CA 900846822 LOAN ORIGINATION SOFTWARE 315787 38 0 FEES AND OTHER CHARGES 522100 3736285 3688273 48012 INTERCHANGE INCOME 522100 3588591 3588591 INSURANCE COMMISSIONS 524298 169000 169000 INTEREST INCOME 522100 40000160 40000160 INVESTMENT SERVICE FEES 522100 283175 269016 14159 5942000 5822842 119158 0 53719211 0 0 0 148469 0 -148469 -148469 -148469 0 0 0 0 0 53570742 53389413 181329 0 42846 0 0 0 3752671 0 9381259 498082 1747290 975320 0 666523 471555 0 0 0 0 836749 3260175 2895617 1201357 590972 9486598 2136432 BAD DEBT EXPENSE 5341730 OTHER 941534 COLLECTION AND LOAN EXPENSES 897191 CREDIT CARD PROCESSING 516099 0 45640000 5671911 13686064 41204082 54590550 2798216 3070343 6403775 6511572 0 0 668659883 666101461 2071132 2043836 30089998 20064919 11228338 10025079 85508345 71923848 0 726316 664687 15644002 13269560 839916000 841887000 8901928 7258557 0 0 746371706 746225404 755273634 753483961 X 84642366 88403039 84642366 88403039 839916000 841887000 X 7930742 1820000 -5990069 X false true X true false 11248 0 0 11248 11248 false GREATER LAWRENCE CHAMBER OF COMMERCE 6501 SUNNYSIDE RD SUITE A216 INDIANAPOLIS IN 46236 351620533 4200 0 MUNCIE-DELAWARE COUNTY CHAMBER OF COMMERCE 401 S HIGH ST MUNCIE IN 47305 350534380 1717 0 GREATER KOKOMO ECONOMIC DEVELOPMENT ALLIANCE INC 700 E FIRMIN ST 200 KOKOMO IN 46902 351499686 2820 0 INDIANA CHAMBER OF COMMERCE 115 WEST WASHINGTON ST INDIANAPOLIS IN 46204 350411610 2511 0 Schedule C, Part I-A, Line 1 Description of Political Activities FINANCIAL CENTER FIRST CREDIT UNION CONTRIBUTED $4,200 TO THE GREATER LAWRENCE CHAMBER OF COMMERCE; $2,820 TO THE GREATER KOKOMO ECONOMIC DEVELOPMENT ALLIANCE, INC.; $1,717 TO THE MUNCIE-DELAWARE COUNTY CHAMBER OF COMMERCE; $2,511 TO THE INDIANA CHAMBER OF COMMERCE. 1326554 1326554 9909811 5496179 4413632 1431157 1061078 370079 16964710 13507662 3457048 457766 457766 10025079 FHLB STOCK 1580900 AFS SECURITIES 63245526 MISCELLANEOUS SECURITIES 6339288 Investment in subsidiary 758134 71923848 FIXED BORROWINGS FHLB 18000000 SHARES 728225404 746225404 55391000 1820000 0 1820000 53571000 0 0 53571000 45640000 0 0 45640000 0 0 45640000 Schedule D, Part X 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. true MOZEL SANDERS FOUNDATION 709 N BELMONT AVENUE INDIANAPOLIS IN 46222 352025644 501 (C)(3) 6640 0 GENERAL OPERATING SU 1 0 Schedule I, Part I, Line 2 ORGANIZATION'S PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS FINANCIAL CENTER FIRST CREDIT UNION PROVIDES GENERAL SUPPORT TO SECTION 501(C)(3) TAX EXEMPT ORGANIZATIONS AND VERIFIES THE ORGANIZATIONS STATUS USING THE IRS WEBSITE (https://www.irs.gov/charities-non-profits/exempt-organizations-business-master-file-extract-eo-bmf). X true true X X X true true false MICHAEL NELSON FORMER CHIEF FINANCIAL OFFICER 161418 0 0 0 215000 0 0 0 0 0 376418 0 0 0 JAMES NORTON VP OF STRATEGIC DEVELOPMENT 144322 0 0 0 0 0 6207 0 8357 0 158886 0 0 0 CAMERON MINGES CEO/PRESIDENT 293891 0 300 0 17264 0 13378 0 15892 0 340725 0 0 0 JENNIFER RUE CHIEF RISK & COMPL. OFFICER 211853 0 17600 0 785 0 9969 0 7714 0 247921 0 0 0 CARL BRITTON VP OF LENDING 175206 0 7600 0 775 0 8230 0 14598 0 206409 0 0 0 FRANCES TOOLEY CHIEF DEVELOPMENT OFFICER 136669 0 0 0 0 0 6415 0 16598 0 159682 0 0 0 BILLY WELLS COO 194605 0 7900 0 626 0 8077 0 0 0 211208 0 0 0 DIANNA MILLER VP OF ACCOUNTING 143578 0 0 0 0 0 6556 0 21021 0 171155 0 0 0 CHRISTINE STEFANI VP OF HR 152656 0 7600 0 832 0 7054 0 8215 0 176357 0 0 0 DUSTY SIMMONS CHIEF STRATEGY OFFICER 190559 0 7900 0 643 0 8009 0 7765 0 214876 0 0 0 AARON ALSUP VP OF ERM 140963 0 0 0 0 0 6166 0 16188 0 163317 0 0 0 CHRISTOPHER SIBILA SVP INFORMATION TECHNOLOGY 196011 0 17625 0 980 0 5153 0 19629 0 239398 0 0 0 Schedule J, Part I, Line 1a Travel for companions BOARD MEMBERS AND PRESIDENT/CEO SPOUSES/SIGNIFICANT OTHERS ARE ALLOWED TO TRAVEL WITH BOARD. SPOUSAL AIRFARE/REGISTRATION WAS REPORTED ON FORM 1099-MISC IF MINIMUM REPORTING THRESHOLD MET. Schedule J, Part I, Line 4a Severance or change-of-control payment A SEVERANCE PAYMENT WAS MADE TO CERTAIN PERSONS INCLUDED IN PART VII, SECTION A, LINE 1A AND HAVE BEEN INCLUDED ON SCHEDULE J, COLUMN (B)(III) FOR OTHER REPORTABLE COMPENSATION. THE FOLLOWING RECEIVED A SEVERANCE PAYMENT FOR THE DISCLOSED AMOUNT: MICHAEL NELSON $215,000 Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan CAMERON MINGES (CEO/PRESIDENT) AND MICHAEL NELSON (FORMER CFO) ARE 0% VESTED IN THEIR SPLIT-DOLLAR PLANS. NO PARTIAL OR FULL VESTING FOR MINGES AND NELSON WILL OCCUR UNTIL 2025. JAMES RYAN CEO-RETIRED EXECUTIVE RETENTION X 3039002 3246484 false true true CAMERON MINGES PRESIDENT/CEO EXECUTIVE RETENTION X 1787823 1942149 false true true MICHAEL NELSON CFO-RETIRED EXECUTIVE RETENTION X 1220469 1322939 false true true 6511572 Form 990, Part VI, Line 6 Classes of members or stockholders THERE IS ONE CLASS OF MEMBERS. EACH ELIGIBLE MEMBER RECEIVES A VOTE TO ELECT THE BOARD OF DIRECTORS. THERE WERE 68,375 CREDIT UNION MEMBERS IN 2023. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body ALL ELECTIONS OF BOARD MEMBERS ARE DETERMINED BY PLURALITY VOTE. IRRESPECTIVE OF THE NUMBER OF SHARES, NO MEMBER HAS MORE THAN ONE VOTE. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders REGULATORY ITEMS SUCH AS CHANGES TO THE CREDIT UNION CHARTER AND MERGERS ARE SUBJECT TO APPROVAL OF THE MEMBERS. Form 990, Part VI, Line 11b Review of form 990 by governing body THE FORM 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER OR VP OF FINANCE/CONTROLLER AND IS SHARED WITH THE BOARD AFTER IT HAS BEEN FILED. THE FORM 990 IS ALSO REVIEWED BY AN INDEPENDENT ACCOUNTING FIRM. Form 990, Part VI, Line 12c Conflict of interest policy We provide annual training to staff and board on the code of conduct and ethics. We review any reports of conflict of interest and, if applicable (over $50), we report to the board through the board packet. IT IS THE RESPONSIBILITY OF THE DIRECTOR, COMMITTEE MEMBER, OR EMPLOYEE TO REPORT SUCH CHANGES TO THE PROPER CHANNEL. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE PROCESS FOR DETERMINING COMPENSATION WAS DONE USING PERFORMANCE, JOB GRADE, AND FINANCIAL INSTITUTION SURVEY DATA. THE CEO'S SALARY WAS LAST REVIEWED ON JANUARY 1, 2024. Form 990, Part VI, Line 15b Process to establish compensation of other employees THE PROCESS FOR DETERMINING COMPENSATION WAS DONE USING COMPARABILITY DATA AND AN INTERNAL JOB EVALUATION PROCESS. Form 990, Part VI, Line 19 Required documents available to the public THE ORGANIZATION'S ARTICLES OF INCORPORATION, CODE OF REGULATION, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. Form 990, Part VIII, Line 2f Other Program Service Revenue All Other Program Service Revenue - Total Revenue: 5942000, Related or Exempt Function Revenue: 5822842, Unrelated Business Revenue: 119158, Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part XI, Line 9 Other changes in net assets or fund balances ADOPTION OF ASU 2016-13 TOPIC 326 (CECL) - -6140069; EQUITY ACQUIRED IN ACQUISITION - 150000; FINANCIAL CENTER SERVICES LLC 7101 E 56TH ST INDIANAPOLIS IN 46226 900185743 INSURANCE IN 110684 758261 FCFCU