2024-11-14T12:52:59-08:00 2023-12-31 830368487 BOYCE SPADY & MOORE PLC 1013 W Washington Street Suffolk VA 23434 990 2023-01-01 540314180 BAYPORT CREDIT UNION BAYP 7579288850 ONE BAYPORT WAY 350 NEWPORT NEWS VA 23606 G LEWIS SMITH VP/FINANCE 2024-11-14 true true Robert M Moore Jr P00063540 7575392953 X 2023 2024-10-15 13:58:12Z ONE BAYPORT WAY 350 NEWPORT NEWS VA 23606 154288278 false X www.bayportcu.org X 1928 VA THE CREDIT UNION PROVIDED AFFORDABLE LOANS TO OVER 16,000 MEMBERS DURING THE YEAR. MANY OF THE INDIVIDUALS WOULD NOT HAVE BEEN ABLE TO OBTAIN SUCH LOANS FROM OTHER FINANCIAL INSTITUTIONS. IN ADDITION, THE CREDIT UNION PROVIDED DEPOSITORY SERVICES TO MEMBERS PROVIDING BRANCHES, ON-LINE BANKING, FINANCIAL COUNSELING SERVICES, HOME BUYING AND RETIREMENT SEMINARS, FINANCIAL EDUCATION, SCHOLARSHIPS AND NUMEROUS OTHER RELATED SERVICES. THE CREDIT UNION'S MEMBERSHIP CONSISTS OF PRIMARILY INDIVIDUALS IN THE HAMPTON ROADS AREA AND INCLUDES MANY INDIVIDUALS GENERALLY NOT RECRUITED FOR SERVICES AT LARGER FINANCIAL INSTITUTIONS. 11 11 625 11 -462771 220771 0 106387526 137164934 8308354 15638449 -332198 -46715 114363682 152756668 0 0 39541223 43231083 0 0 60240221 84201692 99781444 127432775 14582238 25323893 2286817396 2365294400 2092334993 2137524830 194482403 227769570 TO PROVIDE AFFORDABLE FINANCIAL SERVICES TO ITS MEMBERS INCLUDING LOAN RELATIONSHIPS DEPOSITORY SERVICES CREDIT CARDS AND INTERNET BANKING AT CONVENIENT LOCATIONS BY PROFESSIONALS WHO PROVIDE EXCELLENT SERVICE false false TO PROVIDE AFFORDABLE LOANS TO OVER 16,000 MEMBERS DURING THE YEAR. MANY OF THE INDIVIDUALS WOULD NOT HAVE BEEN ABLE TO OBTAIN SUCH LOANS FROM OTHER FINANCIAL INSTITUTIONS. IN ADDITION, THE CREDIT UNION PROVIDED DEPOSITORY SERVICES TO MEMBERS PROVIDING BRANCHES, ON-LINE BANKING, FINANCIAL COUNSELING SERVICES, HOME BUYING AND RETIREMENT SEMINARS, FINANCIAL EDUCATION, SCHOLARSHIPS AND NUMEROUS OTHER RELATED SERVICES. THE CREDIT UNION'S MEMBERSHIP CONSISTS PRIMARILY OF INDIVUDALS IN THE HAMPTON ROADS AREA AND INCLUDES MANY INDIVIDUALS GENERALLY NOT RECRUITED FOR SERVICES AT LARGER FINANCIAL INSTITUTIONS. false false false false false false false false false true false false true true false false false false false false false false false false false false false false true false true false false false false false false false false false false false false true 34251 0 true 625 true true true false false false false false false false X 11 11 false false false false true false false true true false true true false true false false false true false false false X NANCY K POPE 7578734030 ONE BAYPORT WAY NEWPORT NEWS VA 23606 X JAMES MEARS PRESIDENT/CEO 40.00 0.00 552573 0 22408 STANLEY LEICESTER EXECUTIVE VP 40.00 0.00 394784 0 0 GODFREY SMITH EXEC VP/CFO 40.00 0.00 302765 0 0 JENNIFER COYNE EXEC VP/COO 40.00 0.00 290656 0 0 SUSAN FERNAAYS CHIEF EXPERIENCE OFFICER 40.00 0.00 243462 0 0 DENISE MCROBERTS CHIEF INFO OFFICER 40.00 0.00 243171 0 0 IRA WILLIAMS CHIEF RETAIL OFF 40.00 0.00 236388 0 0 WENDY BROWN CHIEF HR OFFICER 40.00 0.00 229598 0 0 NANCY PORTER VP MARKETING 40.00 0.00 212325 0 0 TONYA EDWARDS VP BUSINESS BANKIN 40.00 0.00 209189 0 0 PAMELA J ROWE VICE CHAIRMAN 0.00 0.00 X X 0 0 0 CRAIG HOLLEY JR Director 0.00 0.00 X 0 0 0 SUZANNE M BECKSTOFFER VICE CHAIRMAN 0.00 0.00 X X 0 0 0 MAUREEN DAVIS Chairman 0.00 0.00 X X 0 0 0 MARY CULLEN Director 0.00 0.00 X 0 0 0 LEMESHIA STEELE Director 0.00 0.00 X 0 0 0 JENNIFER M MILLER Secretary/Treas 0.00 0.00 X X 0 0 0 RAY C BAGLEY Asst Secretary 0.00 0.00 X X 0 0 0 GEORGE C WIATT JR Director 0.00 0.00 X 0 0 0 DINETTA D HILL Director 0.00 0.00 X 0 0 0 THOMASINA R WRIGHT Director 0.00 0.00 X 0 0 0 2914911 22408 43 false true false NORTH RIVER CONSTRUCTION LLC PO BOX 97 WARE NECK VA 23178 CONSTRUCTION 1321755 SIRIUS COMPUTER SOLUTIONS INC PO BOX 202289 DALLAS TX 75320 COMPUTER SERVICES 828906 SUMMS SKIP & COLLECTION SERVICE 2616 QUALITY CT VIRGINIA BEACH VA 23454 COLLECTION SERVICE 649000 DOVENMUEHLE MORTGAGE SERVICER 1 CORPORATE DRIVE LAKE ZURICH IL 60047 MORTGAGE SERVICE 514419 LOOMIS DEPT CH 10500 PALATINE IL 60055 BANKING SERVICE 503542 29 0 FEES AND CHARGES 522100 13204129 13204129 LOAN INTEREST 522100 99329787 99329787 MISCELLANEOUS 522100 24631018 24631018 137164934 15638449 15638449 0 0 1068839 1531610 -462771 -462771 -462771 0 0 0 0 NON-OPERATING INC/EXP 416056 416056 416056 152756668 153219439 -462771 0 0 0 0 1806648 0 29486003 0 11938432 0 0 0 0 0 0 0 0 0 0 0 0 6805711 984331 0 0 3796455 0 0 0 INTREST ON MEMBERS' ACCOUNTS 29395764 ACCOUNT SERVICING 19755153 OFFICE 12538434 PROVISION FOR LOAN LOSSES 4273400 6652444 127432775 0 0 0 35571213 29269462 0 0 0 0 0 421154508 402855282 0 2589838 5620642 113457695 56204009 59088631 57253686 0 0 0 0 1768413206 1870295328 2286817396 2365294400 24269616 16961494 69000000 115000000 1999065377 2005563336 2092334993 2137524830 X 194482403 227769570 194482403 227769570 2286817396 2365294400 X 25323893 7963274 X false true X true false 113457695 56204009 57253686 57253686 ACCRUED INCOME 7152844 AUTO LOANS 677297445 LOANS - ALLOWANCE FOR LOAN LOSSES -40998269 LOANS-REAL ESTATE 663831408 OTHER ASSETS 55313834 OTHER RECEIVABLES 27530977 1870295328 BUSINESS SHARES 103283393 CHECKING SHARES 334555863 MEMBER CERTIFICATES 536815365 OTHER LIABILITIES 4009479 OTHER SHARES 605109045 REGULAR SHARES 421790191 2005563336 false false false DENISE MCROBERTS CHIEF INFO OFFICER 222646 19773 752 243171 GODFREY SMITH EXEC VP/CFO 235661 16606 50498 302765 IRA WILLIAMS CHIEF RETAIL OFF 219275 17113 236388 JAMES MEARS PRESIDENT/CEO 451641 87616 13316 22408 574981 JENNIFER COYNE EXEC VP/COO 227567 16606 46483 290656 NANCY PORTER VP MARKETING 198892 13433 212325 STANLEY LEICESTER EXECUTIVE VP 335643 40004 19137 394784 SUSAN FERNAAYS CHIEF EXPERIENCE OFFICER 222591 20871 243462 TONYA EDWARDS VP BUSINESS BANKIN 195766 13423 209189 WENDY BROWN CHIEF HR OFFICER 211597 16769 1232 229598 STANLEY LEICESTER EMPLOYEE LOANS X 1694100 1327551 false true true DENISE MCROBERTS EMPLOYEE LOANS X 470000 421149 false true true IRA WILLIAMS EMPLOYEE LOANS X 692850 421100 false true true JAMES MEARS EMPLOYEE LOANS X 918525 490101 false true true TONYA EDWARDS EMPLOYEE LOAN X 771000 703612 false true true GODFREY SMITH EMPLOYEE LOANS X 315000 295366 false true true GEORGE WIATT BOARD LOANS X 275400 160 false true true MARY CULLEN BOARD LOAN X 30000 7170 false true true MAUREEN DAVIS BOARD LOAN X 25000 3400 false true true PAMELA ROWE BOARD LOAN X 90000 149 false true true THOMASINA WRIGHT BOARD LOANS X 2402500 1658148 false true true JENNIFER COYNE EMPLOYEE LOAN X 746824 702856 false true true SUZANNE BECKSTOFFER BOARD LOANS X 306500 140610 false true true DINETTA HILL BOARD LOAN X 54217 43026 false true true WENDY BROWN EMPLOYEE LOAN X 225500 207874 false true true 6422272 Form 990, Part VI, Section B, Line 11b THE CREDIT UNION GATHERS THE INFORMATION NECESSARY TO COMPLETE THE RETURN AND FORWARDS SUCH INFORMATION AND ANY OTHER INFORMATION REQUESTED BY ITS ACCOUNTING FIRM TO ITS ACCOUNTING FIRM. UPON COMPLETION OF THE RETURN, THE CREDIT UNION REVIEWS THE RETURN AND CONSULTS WITH ACCOUNTING FIRM BEFORE FILING. Form 990, Part VI, Section C, Line 19 AVAILABLE UPON REQUEST Form 990, Part XI, Line 9 ADOPTION OF NEW CECL STANDARD = -$20405235 Form 990, Part XI, Line 9 OTHER COMPREHENSIVE INCOME = $28368509 Statement Note 1 BAYPORT CREDIT UNION RESPECTFULLY FILES THIS TAX RETURN UNDER PROTEST.IT IS OUR POSITION THAT ALL UNRELATED BUSINESS INCOME AND EXPENSES, AS INDICATED IN THIS TAX RETURN, IS DIRECTLY RELATED TO THE EXEMPT ACTIVITIES OF THE CREDIT UNION. ACCORDINGLY, WE DISAGREE WITH THE POSITIONS TAKEN BY THE INTERNAL REVENUE SERVICE IN 2007 TECHNICAL ADVICE MEMORANDUMS, REQUIRING THE FILING OF FORM 990-T. THESE SERVICES SUPPORT AND ENHANCE OTHER FINANCIAL SERVICES OFFERED BY THE CREDIT UNION TO ITS MEMBERS.