2023-11-15T13:31:25-06:00 2022-12-31 FORVIS LLP 201 N Illinois Street Indianapolis IN 46204 990 2022-01-01 350978599 Crane Credit Union % ALVIN LECHER CRAN 8128637115 1 W Gate Drive Odon IN 47562 ALVIN LECHER CFO 8128637115 2023-11-15 true ALVIN LECHER 999009999 MICHAEL J SUMMERS P00838533 3173834000 2023-11-15 2 2022 2023-04-26 12:10:37Z KEVIN SPARKS 1 W Gate Drive Odon IN 47562 43106084 false X WWW.CRANECU.ORG X 1955 IN WE BUILD LIFE-LONG RELATIONSHIPS BY SUPPORTING FINANCIAL NEEDS, DREAMS, AND POSSIBILITES. 9 1 230 10 211743 0 0 0 32692878 36829050 2621694 3258595 463983 467696 35778555 40555341 13200 19200 0 0 11282723 12597959 0 0 0 15178408 17395898 26474331 30013057 9304224 10542284 926412870 1017070436 826526441 927894843 99886429 89175593 WE BUILD LIFE-LONG RELATIONSHIPS BY SUPPORTING FINANCIAL NEEDS, DREAMS, AND POSSIBILITES. false false DURING THE YEAR, THE CREDIT UNION GRANTED 15,876 LOANS TOTALING $385,186,949. IN ADDITION, 3,446 NEW MEMBERSHIPS WERE OPENED. OVERALL, THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO 66,388 MEMBERS. CRANE CREDIT UNION AND HULMAN FIELD TECHNICIANS FEDERAL CREDIT UNION MERGED TOGETHER EFFECTIVE SEPTEMBER 30TH, 2022, ALLOWING THE CREDIT UNION TO BETTER SERVE THE FINANCIAL NEEDS OF ITS MEMBERS. false false false false false false false true false true false false false true true false true false false false false false false false false false false true true false true false false false false false false false false true false false false true 9335 0 true 230 true true true false false false false false false false false X 9 1 false false false false true true true true true false true true true true true true true true true false false X ALVIN LECHER 8128637000 1 W GATE DRIVE ODON IN 47562 KEVIN SPARKS CEO/PRESIDENT 40.0 0.0 X 254820 0 27306 BRYAN MYERS CHIEF OPERATING OFFICER 40.0 0.0 X 162928 0 17853 GARY MICHAEL WIGGINGTON VICE PRESIDENT IT 40.0 0.0 X 120466 0 23894 TIM LUKOMSKI LEFT 072022 CHIEF FINANCIAL OFFICER 40.0 0.0 X 117922 0 12390 STACY N LENGACHER EMPLOYEE 40.0 0.0 X 109349 0 18803 KENNETH R GREENWELL BOARD MEMBER 4.0 0.0 X 31400 0 0 DALE L PADGETT JR VICE CHAIRMAN 4.0 0.0 X X 30900 0 0 BRUCE W CUMMINGS TREASURER 4.0 0.0 X X 28400 0 0 GARY E GRAY JR CHAIRMAN 4.0 0.0 X X 28150 0 0 JEFFREY L SCHAFER DIRECTOR 4.0 0.0 X 26800 0 0 DAVID H FYRE SECRETARY 4.0 0.0 X X 23950 0 0 PATRICIA HERNDON DIRECTOR 4.0 0.0 X 21800 0 0 DOUGLAS R RANARD SUPERVISORY 4.0 0.0 X 17689 0 0 QUENTIN D HAYS SUPERVISORY 4.0 0.0 X 11500 0 0 SUSAN E JONES SUPERVISORY COMMITTEE MEMBER 4.0 0.0 X 1100 0 0 987174 0 100246 5 false true false ELECTRONIC STRATEGIES INC 8050 CASTLEWAY DR INDIANAPOLIS IN 46250 IT CONSULTING 809582 JACK HENRY AND ASSOCIATES 663 W HIGHWAY 60 MONETT MO 65708 CORE BANKING SYSTEM 356653 QSI 107 SCHULER DR BARDSTOWN KY 40004 ATM 446361 ACCESS SOFTEK INC 727 ALSTON WAY BERKLEY CA 94710 ELECTRONIC BANKING 414651 WINDSTREAM PO BOX 9001013 LOUISVILLE KY 40290 COMMUNICATIONS 297696 18 0 INTEREST ON LOANS 522130 27920819 27920819 INTERCHANGE ON INCOME 522130 5519548 5519548 SERVICE CHARGES AND FEES 522130 1870566 1762643 107923 LOAN FEES AND CHARGES 522130 517763 517763 OTHER NON-INTEREST INCOME 522130 1000354 1000354 36829050 3247956 3247956 0 0 80976 77983 2993 0 2993 2993 2483399 2472760 10639 10639 10639 0 0 0 0 0 0 0 0 0 LIFE INSURANCE CSV 522100 360883 360883 SHARED BRANCHING 522130 103820 103820 464703 40555341 37082010 211743 3261588 0 19200 0 0 987174 0 8485726 560867 1874783 689409 0 22671 141065 0 0 0 1641145 1209651 618620 215511 0 1560227 126115 0 0 2768897 0 3024239 195481 LOAN SERVICING EXPENSE 428026 DATA PROCESSING FEES 2370164 PROVISION FOR LOAN LOSS 1297590 EDUCATION AND PROMOTION 699123 1077373 30013057 8105439 8173736 28625967 42803903 2233103 2560678 127339 99005 1034242 2211071 0 0 609692688 730934049 0 0 573919 500131 35687206 23215150 12933725 12472056 224166629 175738556 0 0 0 0 9934872 9915869 28984947 31661382 926412870 1017070436 5061168 4618880 0 0 0 0 0 0 1113285 1095474 0 0 17625424 62101932 0 0 802726564 860078557 826526441 927894843 X 0 0 0 0 99886429 89175593 99886429 89175593 926412870 1017070436 X 10542284 -22489345 1236225 X false true X true false false true X 2813799 2813799 16540745 9337165 7203580 320186 320186 16012476 13557799 2454677 12472056 0 MEMBERS' SHARES 860078557 860078557 X SCHEDULE D, PART IV, LINE 2B - EXPLANATION OF ESCROW AGREEMENT THE CREDIT UNION MAINTAINS ESCROW ACCOUNTS FOR PROPERTY TAXES AND INSURANCE FOR MEMBER LOANS. SCHEDULE D, PART X, LINE 2 - ASC 740 FOOTNOTE THE CREDIT UNION IS STATE CHARTERED AND FEDERALLY TAX-EXEMPT UNDER INTERNAL REVENUE CODE 501(C)(14), EXCEPT TO THE EXTENT OF UNRELATED BUSINESS INCOME. UNRELATED BUSINESS INCOME IS INSIGNIFICANT AND NO TAX PROVISION HAS BEEN MADE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. THE CREDIT UNION'S WHOLLY OWNED SUBSIDIARIES ARE DISREGARDED ENTITIES FOR TAX PURPOSES AND ARE THEREFORE NOT SUBJECT TO FEDERAL INCOME TAX. THE CREDIT UNION MAY RECOGNIZE A LIABILITY FOR UNRECOGNIZED TAX BENEFITS FROM UNCERTAIN TAX POSITIONS. UNRECOGNIZED TAX BENEFITS REPRESENT THE DIFFERENCES BETWEEN A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN AND THE BENEFIT RECOGNIZED AND MEASURED IN THE CONSOLIDATED FINANCIAL STATEMENTS. INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS ARE CLASSIFIED AS INCOME TAX EXPENSE. THE CREDIT UNION HAD NO UNRECOGNIZED TAX BENEFITS AT DECEMBER 31, 2022 AND 2021. SCHOLARSHIPS 16 19200 SCHEDULE I, PART I, LINE 2 - PROCEDURES FOR MONITORING USE OF GRANT FUNDS SCHOLARSHIP FINALISTS WILL BE CHOSEN BY A SCHOLARSHIP COMMITTEE AND APPROVED BY THE BOARD OF DIRECTORS. APPLICANTS WILL BE JUDGED ON THE FOLLOWING: APPLICATION 30%, ACADEMIC PROFILE 10%, ESSAY 60%. X true true X X false true false KEVIN SPARKS CEO/PRESIDENT 199107 25000 30713 27000 306 282126 BRYAN MYERS CHIEF OPERATING OFFICER 127441 6906 28581 13034 4819 180781 SCHEDULE J, PART I, LINE 1A - TRAVEL FOR COMPANIONS AIRFARE FOR BOARD MEMBERS' SPOUSES IS PAID BY THE CREDIT UNION. SPOUSES' MEALS ARE PAID FOR FOR ANY CREDIT UNION EMPLOYEE OR BOARD MEMBER ON OFFICIAL CREDIT UNION BUSINESS. THESE EXPENSES WERE NOT INCLUDED IN TAXABLE INCOME TO THE BOARD MEMBER. SCHEDULE J, PART I, LINE 4B - SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN CRANE CREDIT UNION (CCU) PROVIDES A SUPPLEMENTAL NONQUALIFIED RETIREMENT 457(F) PLAN TO EXECUTIVE LEVEL EMPLOYEES. THE ORGANIZATION MAKES ANNUAL CONTRIBUTIONS TO THE PLAN. THE DEPOSITS ARE OWNED BY CCU AND ARE TAX-DEFERRED UNTIL A DISTRIBUTIONS ARE MADE. DISTRIBUTIONS ARE MADE EVERY FIVE YEARS FOR ALL EXECUTIVES THAT ARE STILL ACTIVELY EMPLOYED ON THE DISTRIBUTION DATE. CONTRIBUTIONS TO THE PLAN FOR 2022 ARE AS FOLLOWS: KEVIN SPARKS, PRESIDENT - $16,007 TIM LUKOMSKI, CFO - $10,408 BRYAN MYERS, COO - $14,262 GARY MICHEL WIGGINGTON, VP IT - $11,543 MIKE WIGGINTON VP OF IT AUTO X 61000 36500 false false true MIKE WIGGINTON VP OF IT PRIMARY RESIDENCE X 170000 133395 false false true BRYAN MYERS CHIEF OPERATING OFFICER AUTO X 29000 18334 false false true BRYAN MYERS CHIEF OPERATING OFFICER PRIMARY RESIDENCE X 132450 105101 false false true KEVIN SPARKS CHIEF EXECUTIVE OFFICER AUTO X 22000 9979 false false true DALE PADGETT BOARD MEMBER AUTO X 22328 10597 false false true DAVID FRYE BOARD MEMBER AUTO X 25000 8917 false false true DAVID FRYE BOARD MEMBER PRIMARY RESIDENCE X 44563 33656 false false true QUENTIN HAYS BOARD MEMBER AUTO X 33215 3666 false false true QUENTIN HAYS BOARD MEMBER PRIMARY RESIDENCE X 397000 361628 false false true QUENTIN HAYS BOARD MEMBER SECONDARY RESIDENCE X 300000 299773 false false true DEREK WOLFE EXECUTIVE PRIMARY RESIDENCE X 240000 192396 false false true DEREK WOLFE EXECUTVE SECONDARY RESIDENCE X 46999 25131 false false true DANIELLE COMBS EXECUTIVE AUTO X 40072 37476 false false true DANIELLE COMBS EXECUTIVE PRIMARY RESIDENCE X 224000 188921 false false true JEREMY VEHSLAGE EXECUTIVE SHARE X 46698 38807 false false true JEREMY VEHSLAGE EXECUTIVE PRIMARY RESIDENCE X 492500 483253 false false true RYAN LEE EXECUTIVE AUTO 1 X 30700 21303 false false true RYAN LEE EXECUTIVE AUTO 2 X 19000 13347 false false true RYAN LEE EXECUTIVE PRIMARY RESIDENCE X 133000 97751 false false true NATASHA JOHNS SUPERVISORY COMM AUTO X 110000 91140 false false true 2211071 FORM 990, PART IV, LINE 6 THE CREDIT UNION HAS MEMBERS. FORM 990, PART IV, LINE 7A EACH MEMBER IS ENTITLED TO ONE VOTE ON ALL MATTERS BROUGHT TO VOTE AT THE ANNUAL MEETING. FORM 990, PART VI, LINE 7B MEMBERSHIP VOTE IS REQUIRED FOR MERGERS AND CHARTER CONVERSIONS. FORM 990, PART VI, LINE 8B AS AUTHORIZED BY THE ACT, THE BOARD APPOINTS AN EXECUTIVE COMMITTEE OF NOT FEWER THAN THREE DIRECTORS TO SERVE AT ITS PLEASURE, TO ACT FOR IT WITH RESPECT TO THE BOARD'S SPECIFICALLY DELEGATED FUNCTIONS. WHEN MAKING DELEGATIONS TO THE EXECUTIVE COMMITTEE, THE BOARD MUST BE SPECIFIC WITH REGARD TO THE COMMITTEE'S AUTHORITY AND LIMITATIONS RELATED TO THE PARTICULAR DELEGATION. THE BOARD MAY ALSO AUTHORIZE ANY OF THE FOLLOWING TO APPROVE MEMBERSHIP APPLICATIONS UNDER CONDITIONS THE BOARD AND THESE BYLAWS MAY PRESCRIBE: AN EXECUTIVE COMMITTEE; A MEMBERSHIP OFFICER(S) APPOINTED BY THE BOARD FROM THE MEMBERSHIP, OTHER THAN A BOARD MEMBER PAID AS AN OFFICER; THE FINANCIAL OFFICER; ANY ASSISTANT TO THE PAID OFFICER OF THE BOARD OR TO THE FINANCIAL OFFICER; OR ANY LOAN OFFICER. NO EXECUTIVE COMMITTEE MEMBER OR MEMBERSHIP OFFICER MAY BE COMPENSATED AS SUCH. FORM 990, PART VI, LINE 11B FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM, THEN REVIEWED BY THE CREDIT UNION'S CFO AND PRESIDENT PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, LINE 12C THE ORGANIZATION'S OFFICERS, DIRECTORS, AND ALL EMPLOYEES ARE REQUIRED TO ANNUALLY DISCLOSE ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST THEY MAY HAVE WITH THE ORGANIZATION. IF THERE IS A KNOWN CONFLICT, THAT INDIVIDUAL IS RESTRICTED FROM PERFORMING TRANSACTIONS ON CERTAIN ACCOUNTS. IF A CONFLICT ARISES WITH A BOARD MEMBER, THE RESPECTIVE BOARD MEMBER WILL ABSTAIN FROM ANY RELATED DISCUSSION, VOTE, OR SIMILAR ACTION ON THE MATTER. FORM 990, PART VI, LINE 15A THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE PRESIDENT/CEO'S COMPENSATION ANNUALLY. HUMAN RESOURCES USES A SYSTEM CALLED COMPEASE TO GATHER DATA FROM OTHER INSTITUTIONS TO DETERMINE THE PRESIDENT/CEO'S COMPENSATION BASED ON A RANGE FROM COMPARABLE ORGANIZATIONS. THIS PROCESS IS DOCUMENTED IN BOARD MINUTES. FORM 990, PART VI, LINE 15B THE PRESIDENT/CEO DETERMINES THE COMPENSATION OF THE OTHER EMPLOYEE(S) OF THE ORGANIZATION. COMPENSATION IS REVIEWED ANNUALLY. FORM 990, PART VI, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE POSTED QUARTERLY IN CREDIT UNION BRANCHES. FORM 990, PART XI, LINE 9: ADJUSTMENT FOR MERGERS/ACQUISTION: $1,236,225 CRANE TITLE LLC 1 W GATE DRIVE ODON IN 47562 271534978 LEGAL SERVICE IN 0 CRANE CU CRANE FCU PROPERTIES 1 W GATE DRIVE ODON IN 47562 271537278 PROPERTY MGMT IN 0 CRANE CU