2024-11-13T11:01:18-06:00 2023-12-31 382492570 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2023-01-01 741397874 BRAZOS VALLEY SCHOOLS CREDIT UNION BRAZ 2813912149 25525 KATY MILLS PWKY KATY TX 77494 YVONNE KESHNER CEO 2813912149 2024-11-13 1 0 JOHN J MURNANE JR P03021572 3052328272 2024-11-12 2023 2024-10-15 13:58:12Z YVONNE KERSHNER 25525 KATY MILLS PWKY KATY TX 77494 45563603 0 X WWW.BVSCU.ORG X 1954 TX COOPERATIVE PROVIDER OF CREDIT UNION FINANCIAL SERVICES TO QUALIFIED MEMBERS. 7 7 230 7 53127 0 0 0 30319283 36498044 14376957 9015608 0 26159 44696240 45539811 0 13000 0 0 11378921 12969102 0 0 0 19666873 31425326 31045794 44407428 13650446 1132383 984706285 961668793 891460217 868804630 93246068 92864163 X A TRUSTED FINANCIAL PARTNER IN PROVIDING COST-EFFICIENT, HIGH-QUALITY PRODUCTS AND SERVICES. 0 1 SHARE ACCOUNTS: BRAZOS VALLEY SCHOOLS CREDIT UNION'S SHARE ACCOUNTS OFFER ADVANTAGES TO MEMBERS OF ALL AGES. THE CREDIT UNION HAD 62,670 MEMBER-OWNED ACCOUNTS AS OF DECEMBER 31, 2023. MEMBER SAVINGS DIVIDENDS ARE PAID QUARTERLY. SHARE ACCOUNTS ARE ACCESSED THROUGH THE BRANCH OFFICES, HOME BANKING VIA THE INTERNET OR TELEPHONE AND ATM'S WORLDWIDE. THE CREDIT UNION ENCOURAGES THE USE OF AUTOMATED PAYROLL DEPOSITS INTO THE ACCOUNTS TO DEVELOP CONSISTENT SAVINGS HABITS. CHECKING ACCOUNTS: BRAZOS VALLEY SCHOOLS CREDIT UNION OFFERS FOUR TYPES OF CHECKING ACCOUNTS TO OUR MEMBERS: (1) MONEY MARKET (2) DIVIDEND BEARING (3) SERVICE CHARGE FREE AND (4) STUDENT CHECKING ACCOUNT. THE MONEY MARKET AND DIVIDEND BEARING CHECKING ACCOUNTS PAY DIVIDENDS MONTHLY. THE SERVICE CHARGE FREE AND STUDENT CHECKING DO NOT PAY DIVIDENDS. MEMBERS WITH CHECKING ACCOUNTS ARE OFFERED FREE DEBIT CARDS, INTERNET ACCOUNT ACCESS, FREE MOBILE BANKING, AND FREE USE OF INTERNET BILL PAYER PLATFORM. CONSUMER LOANS: BRAZOS VALLEY SCHOOLS CREDIT UNION OFFERS BOTH PERSONAL CONSUMER LOANS AND REAL ESTATE LOANS TO OUR MEMBERS. THE PERSONAL CONSUMER LOANS INCLUDE: SIGNATURE LOANS, CREDIT CARDS, LINE-OF-CREDIT LOANS AND SHARE/CERTIFICATE SECURED LOANS, OTHER SECURED LOANS AND AUTO LOANS. CONSUMER LIFE AND DISABILITY INSURANCE IS AVAILABLE ON ALL PERSONAL CONSUMER LOANS. THE REAL ESTATE LOANS INCLUDE: LAND, CONSTRUCTION, FIRST LIEN MORTGAGE, HOME IMPROVEMENT AND HOME EQUITY, INCLUDING HOME EQUITY LINE OF CREDIT. REAL ESTATE LOANS ARE SERVICED IN-HOUSE WITH ESCROW ACCOUNT SERVICES PROVIDED ON ALL FIRST LIEN MORTGAGES. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 13310 0 1 230 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X YVONNE KERSHNER 2813912149 25525 KATY MILLS PARKWAY KATY TX 77494 MICHAEL GRIFFIN CHAIRPERSON 1.00 X 0 0 0 KATHY KUBELKA VICE CHAIRPERSON 1.00 X 0 0 0 VICKI DELGADO SECRETARY 1.00 X 0 0 0 A MELVIN NASH TREASURER 1.00 X 0 0 0 JOE SIMMONS DIRECTOR 1.00 X 0 0 0 MICHAEL MADDEN DIRECTOR 1.00 X 0 0 0 OD TOMPKINS DIRECTOR 1.00 X 0 0 0 YVONNE KERSHNER PRESIDENT/CEO 40.00 X 543750 0 27901 COURTNEY POOLE CFO 40.00 X 238139 0 20637 CHRISTINA FRITH CMEO 40.00 X 220320 0 19019 JAMES CUSHING VP OPERATIONS 40.00 X 157100 0 17111 ANDREA MAESTRETTI VP HUMAN RESOURCES 40.00 X 148788 0 17111 DIANE DAVIS VP BRANCH OPERATIONS 40.00 X 140115 0 31333 CHELSEA WOOTEN VP LENDING 40.00 X 136884 0 21956 1585096 0 155068 11 0 1 0 GULLO COMMERCIAL CONSTRUCTION LLC 22787 NICHOLS SAWMILL RD HOCKLEY TX 77447 CONSTRUCTION & REPAIRS 2462091 ENGAGE FI LLC 5550 W EXECUTIVE DR SUITE 540 TAMPA FL 33609 VENDOR SEARCH & CONTRACT NEGOTIATION 1407900 ALKAMI TECHNOLOGY PO BOX 122223 DALLAS TX 75312 ONLINE PLATFORM 768811 DIEBOLD NIXDORF INC PO BOX 643543 PITTSBURGH PA 15264 SECURITY EQUIP & SURVEILLANCE 389641 CORELATION 2305 HISTORIC DECATUR RD SUITE 300 SAN DIEGO CA 92106 CORE SYSTEM 319094 15 INTEREST ON LOANS 522100 23938679 23938679 INTERCHANGE INCOME 522100 5315848 5315848 FEES AND CHARGES 522100 5257205 5257205 OTHER INCOME 522100 1933185 1933185 FINANCE AND INSURANCE 520000 53127 53127 36498044 9015608 9015608 49951 23792 26159 26159 26159 45539811 36471076 53127 9015608 X 13000 830427 9354238 483039 1533701 767697 35194 297988 2377659 557482 1774561 2202169 1531050 68009 128040 7354548 1331669 PROVISION FOR LOAN LOSS 5710676 CREDIT/DEBIT CARD EXPEN 3997598 OTHER EXPENSES 1560590 LOAN SERVICING 1176666 1321427 44407428 8361184 7663488 70822343 91263169 94293 67741 408455055 439861183 1542593 1182695 39056737 14775021 21689540 24281716 452172832 372859254 1788795 2072624 19779650 22416923 984706285 961668793 8126726 10511923 883333491 858292707 891460217 868804630 X 0 0 0 0 93246068 92864163 93246068 92864163 984706285 961668793 X 1132383 735347 -2249635 X X 0 1 X 1 0 7410962 7410962 23163327 7320842 15842485 792543 693137 99406 7689905 6761042 928863 24281716 MEMBER SHARE ACCOUNTS 858292707 858292707 X 45563603 0 45563603 -23792 -23792 45539811 44431220 23792 23792 44407428 0 44407428 PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED ON FORM 990 AS A REDUCTION OF REVENUE BUT INCLUDED IN EXPENSES WITHIN THE AUDITED FINANCIAL STATEMENTS. -23,792. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED ON FORM 990 AS A REDUCTION OF REVENUE BUT INCLUDED IN EXPENSES WITHIN THE AUDITED FINANCIAL STATEMENTS. 23,792. 1 MEMBER SCHOLARSHIPS 5 10000 EMPLOYEES' DEPENDENT SCHOLARSHIPS 2 3000 FORM 990, SCHEDULE I, PART III FOR MEMBER SCHOLARSHIPS: 1. BE A CURRENT MEMBER OF BVSCU IN GOOD STANDING. 2. BE A HIGH SCHOOL SENIOR AND ON SCHEDULE TO GRADUATE FROM AN ACCREDITED SCHOOL. 3. SUBMIT ALL REQUIRED DOCUMENTS WITH APPLICATION. INCOMPLETE APPLICATIONS WILL NOT BE CONSIDERED. 4. BE ABLE TO PROVIDE BVSCU WITH A WRITTEN ACCEPTANCE LETTER TO AN ACCREDITED U.S. UNIVERSITY OR COLLEGE THAT WILL AWARD A DEGREE UPON COMPLETION IF HE OR SHE IS CHOSEN TO RECEIVE A SCHOLARSHIP. 5. HAVE A GPA THAT REFLECTS A 3.0 OR BETTER (ON A 4.0 SCALE). 6. BE A U.S. CITIZEN OR PERMANENT LEGAL RESIDENT. EMPLOYEE DEPENDENT SCHOLARSHIPS: A. BE THE CHILD OR GRANDCHILD OF A BVSCU EMPLOYEE WHO HAS BEEN EMPLOYED AT LEAST ONE YEAR; B. BE A GRADUATING SENIOR; AND C. HAVE A FOUR-YEAR ACADEMIC GRADE POINT AVERAGE OF 3.0 OR BETTER. X X 0 0 0 YVONNE KERSHNER PRESIDENT/CEO 449203 0 45392 0 49155 0 18277 0 9624 0 571651 0 0 0 COURTNEY POOLE CFO 178873 0 18392 0 40874 0 10800 0 9837 0 258776 0 0 0 CHRISTINA FRITH CMEO 164380 0 15224 0 40716 0 9888 0 9131 0 239339 0 0 0 JAMES CUSHING VP OPERATIONS 132580 0 13692 0 10828 0 7980 0 9131 0 174211 0 0 0 DIANE DAVIS VP BRANCH OPERATIONS 110271 0 19016 0 10828 0 7095 0 24238 0 171448 0 0 0 ANDREA MAESTRETTI VP HUMAN RESOURCES 132580 0 5380 0 10828 0 7980 0 9131 0 165899 0 0 0 CHELSEA WOOTEN VP LENDING 115021 0 11035 0 10828 0 7095 0 14861 0 158840 0 0 0 FORM 990, PART III, LINE 3 BRAZOS VALLEY SCHOOLS CREDIT UNION NO LONGER CHARGES ANY NON-SUFFICIENT FUND OR COURTESY PAY ITEMS THAT ARE $10 OR UNDER. NON-SUFFICIENT FUND AND COURTESY PAY FEES ARE NOW LIMITED TO NO MORE THAN 5 PER DAY. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS A COOPERATIVE CREDIT UNION OWNED BY ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION'S MEMBERS ELECT THE BOARD OF DIRECTORS AT AN ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B THE CREDIT UNION'S MEMBERS MAY VOTE ON GOVERNANCE DECISIONS. FORM 990, PART VI, SECTION B, LINE 11B A SUMMARY OF THE FORM 990 WAS PROVIDED TO EACH MEMBER OF BRAZOS VALLEY SCHOOLS CREDIT UNION'S BOARD OF DIRECTORS FOR REVIEW. QUESTIONS AND COMMENTS ARE THEN SUBMITTED TO THE PRESIDENT/CEO FOR FURTHER DISCUSSION WITH THE FORM 990 PREPARER. FOLLOW UP RESPONSES ARE PROVIDED BACK TO THE GOVERNING BODY PRIOR TO FINAL APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C MANAGEMENT AND DIRECTORS MUST DISCLOSE/DECLARE ANNUALLY IF THERE ARE ANY POTENTIAL CONFLICTS OF INTEREST. IF ONE ARISES DURING THE YEAR, IT IS DISCLOSED AND REVIEWED. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS PURCHASED A CEO COMPENSATION STUDY TO ASSIST IN ESTABLISHING THE CEO'S SALARY. FOR OTHER OFFICERS AND KEY EMPLOYEES, COMPEASE IS USED TO ASSESS COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 BRAZOS VALLEY SCHOOLS CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 24E ONLINE ACCESS FEES 778,559. SHARE DRAFT & CARD LOSS 542,868. FORM 990, PART XI, LINE 9: CUMULATIVE EFFECT FROM CHANGE IN ACCOUNTING PRINCIPLE -2,249,635. FORM 990, PART XII, LINE 2C THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR TAX YEAR.