2023-11-14T14:24:52-06:00 2022-12-31 232108173 RKL LLP 1330 BROADCASTING ROAD WYOMISSING PA 196106008 990 2022-01-01 230338105 LEHIGH VALLEY EDUCATORS CREDIT UNION LEHI 6108200145 3720 HAMILTON BLVD ALLENTOWN PA 18103 ROSEMARIE KRANTZ CEO 6108200145 2023-11-14 1 ROSEMARIE KRANTZ 999009999 0 RUTHANN J WOLL CPA P00647342 6103761595 2023-11-14 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z ROSEMARIE KRANTZ 3720 HAMILTON BLVD ALLENTOWN PA 18103 68225875 0 X WWW.LVECU.ORG X 1934 PA MAINTAIN FINANCIAL SOUNDNESS WHILE EMPOWERING MEMBERS TO WORK TOWARD FINANCIAL SUCCESS 10 10 35 10 1962 0 0 0 6041318 6489861 3422913 4394816 221882 133037 9686113 11017714 0 95200 0 0 2369304 2311280 0 0 0 4998294 5508080 7367598 7914560 2318515 3103154 408699262 400823762 349447989 361411200 59251273 39412562 MAINTAIN FINANCIAL SOUNDNESS WHILE EMPOWERING MEMBERS TO WORK TOWARD FINANCIAL SUCCESS. 0 0 PROVIDE MORE THAN 8,300 LOANS TO OVER 16,000 MEMBERS. PROVIDE FINANCIAL SERVICES TO OVER 16,000 MEMBERS 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 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 6967 0 1 35 1 1 1 0 0 0 0 0 0 0 X 10 10 1 0 0 0 1 1 1 1 1 1 0 0 1 0 0 0 1 1 1 0 X ANN HOFF 6108200145 3720 HAMILTON BLVD ALLENTOWN PA 18103 WILLIAM AYERS BOARD CHAIRPERSON 1.00 X 1000 0 0 GARY FEDORCHA BOARD VICE CHAIR 1.00 X 750 0 0 EUGENIA EMERT SECRETARY/TREASURER 1.00 X 750 0 0 JILLIAN EMERT MEMBERSHIP OFFICER 1.00 X 350 0 0 DANIEL JOSEPH DIRECTOR 1.00 X 600 0 0 SHERRI MOLITORIS DIRECTOR 1.00 X 600 0 0 DENNIS NEMES DIRECTOR 1.00 X 600 0 0 RYAN VAN NORMAN DIRECTOR 1.00 X 600 0 0 GARY PHILLIPS DIRECTOR 1.00 X 600 0 0 DANIEL WEAVER DIRECTOR 1.00 X 600 0 0 ROSEMARIE E KRANTZ CEO 40.00 X 171692 0 121769 ANN HOFF CFO - BEGAN 5/21/2022 40.00 X 98835 0 63305 MARIE A RHODA CLO 40.00 X 109973 0 48885 RONALD HOUCK CFO - ENDING 2/18/2022 40.00 X 54200 0 0 441150 0 233959 2 0 1 0 FISERV PO BOX 934057 ATLANTA GA 31193 DEBIT CARD PROCESSING 436520 FIDELITY INFORMATION SERVICES 601 RIVERSIDE AVE JACKSONVILLE FL 32204 PLASTIC CARD SERVICES 364506 ALKAMI TECHNOLOGY 5601 GRANITE PKWY SUITE 120 PLANO TX 75024 DIGITAL BANKING SERVICES 235330 CORELATION INC 2305 HISTORIC DECATUR SUITE 300 SAN DIEGO CA 92106 SOFTWARE MAINTENANCE 107568 4 LOAN INTEREST INCOME 522291 4780858 4780858 PLASTIC CARD INCOME 522100 1233713 1233713 FEE INCOME 522100 473328 473328 NON MEMBER ATM INCOME 525990 1962 1962 6489861 4621193 4621193 11568000 45413784 11802255 45405906 -234255 7878 -226377 -226377 CU MEMBER CAPITAL REFUND 522100 128442 128442 MISCELLANEOUS INCOME 522100 4595 4595 133037 11017714 6620936 1962 4394816 95200 673383 1161965 362126 113806 17557 34363 219673 138414 1013444 608451 346365 7 23493 1398339 358733 72805 LENDING EXPENSES 909040 PROVISION FOR LOAN LOSS 266842 OTHER 100554 7914560 1067747 871950 33559316 18917005 1068484 1126575 96506978 111005867 317658 263760 9208393 4443455 5109842 4764938 266633533 258739952 191200 235400 4244504 4898315 408699262 400823762 434846 274090 349013143 361137110 349447989 361411200 X 0 0 0 0 0 0 59251273 39412562 408699262 400823762 X 3103154 -23030462 88597 X X 0 1 X 1 0 1478502 1478502 5617853 2729628 2888225 2112038 1713827 398211 4764938 MEMBER SHARE AND SAVINGS ACCOUNTS 361137110 361137110 X -11924151 -23030462 88597 -22941865 11017714 0 11017714 7914560 0 7914560 0 7914560 PART X, LINE 2: THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DESCRIBED IN IRC SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE-CHARTERED CREDIT UNIONS. THE CREDIT UNION DID NOT INCUR UNRELATED BUSINESS INCOME TAX FOR THE YEAR ENDED DECEMBER 31, 2021 AND DOES NOT ANTICIPATE ANY UNRELATED BUSINESS INCOME TAX FOR THE YEAR ENDED DECEMBER 31, 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: DEFINED BENEFIT PENSION PLAN 88,597. PART XII, LINE 2D NET CHANGE IN PENSION LIABILITY 0 ALLENTOWN SCHOOL DISTRICT 31 S PENN ST ALLENTOWN PA 18102 236003488 50(C)(3) 10000 0 BACKPACK PROGRAM CATASAUQUA SCHOOL DISTRICT 201 N 14TH ST CATASAUQUA PA 18032 236005528 50(C)(3) 10000 0 BACKPACK PROGRAM EAST PENN SCHOOL DISTRICT 800 PINE ST EMMAUS PA 18049 811197085 501(C)(3) 10000 0 BACKPACK PROGRAM NORTHERN LEHIGH SCHOOL DISTRICT 1201 SHADOW OAKS LANE SLATINGTON PA 18080 208427069 501(C)(3) 10000 0 BACKPACK PROGRAM NORTHWESTERN LEHIGH SCHOOL DISTRICT 6439 RT 309 NEW TRIPOLI PA 18066 362167817 501(C)(3) 10000 0 BACKPACK PROGRAM PARKLAND SCHOOL DISTRICT 1210 SPRINGHOUSE RD ALLENTOWN PA 18104 452645543 501(C)(3) 10000 0 BACKPACK PROGRAM SALISBURY SCHOOL DISTRICT 1140 SALISBURY RD ALLENTOWN PA 18103 060646888 501(C)(3) 10000 0 BACKPACK PROGRAM SOUTHERN LEHIGH SCHOOL DISTRICT 5775 MAIN ST CENTER VALLEY PA 18034 270328801 501(C)(3) 10000 0 BACKPACK PROGRAM WHITEHALL-COPLAY SCHOOL DISTRICT 2940 MACARTHUR RD WHITEHALL PA 18052 396005205 501(C)(3) 10000 0 BACKPACK PROGRAM 9 0 X X X X 0 0 0 ROSEMARIE E KRANTZ CEO 166658 0 0 0 5034 0 95320 0 26449 0 293461 0 0 0 ANN HOFF CFO - BEGAN 5/21/2022 93939 0 0 0 4896 0 29881 0 33424 0 162140 0 0 0 MARIE A RHODA CLO 106369 0 0 0 3604 0 42478 0 6407 0 158858 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 EUGENIA EMERT AND JILLIAN EMERT HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS A SINGLE CLASS OF MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER HAS A SINGLE VOTE IN THE ELECTION OF THE CREDIT UNION'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE CREDIT UNION'S MEMBERS MUST APPROVE: -THE MERGER OF THE CREDIT UNION. -THE DISSOLUTION OR CONVERSION OF THE CREDIT UNION. -CHANGES TO THE CREDIT UNION'S CHARTER, ARTICLES AND BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE CREDIT UNION'S CEO AND CFO PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE CEO IS DETERMINED BY THE CHAIR AND VICE-CHAIR OF THE BOARD OF DIRECTORS, WHO REVIEW INFORMATION OBTAINED THROUGH THE HR PERFORMANCE SOLUTIONS COMPEASE SYSTEM. THEY THEN MAKE A RECOMMENDATION FOR THE FULL BOARD OF DIRECTORS, WHICH VOTES TO APPROVE THE SALARY. COMPENSATION FOR OTHER OFFICERS OR KEY EMPLOYEES IS BASED ON GUIDANCE FROM THE HR PERFORMANCE SOLUTIONS COMPEASE SYSTEM. A THREE YEAR SALARY PLAN IS DEVELOPED BY THE CEO, PRESENTED TO THE SALARY COMMITTEE AND REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. COMPENSATION FOR ALL EMPLOYEES, INCLUDING THE CEO, OTHER OFFICERS AND KEY EMPLOYEES, IS ALSO INCLUDED IN THE ANNUAL BUDGET. THE BUDGET IS APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S FINANCIAL STATEMENTS ARE POSTED IN THE LOBBIES OF ALL BRANCHES ON A MONTHLY BASIS. QUARTERLY FINANCIAL STATEMENTS (CALL REPORTS) ARE AVAILABLE ON WWW.NCUA.GOV. FORM 990, PART XI, LINE 9: DEFINED BENEFIT PENSION PLAN 88,597. PART XII LINE 2C THERE WAS NO CHANGE FROM PRIOR YEAR.