UTILITIES EMPLOYEES CREDIT UNION: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- UTILITIES EMPLOYEES CREDIT UNION (EIN 23-1278971)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-10-31
- IRS object ID
- 202333049349300013
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-10-31T07:18:44-05:00 | ReturnTs |
| Tax Period End | 2022-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 232108173 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RKL LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1330 BROADCASTING ROAD | AddressLine1Txt |
| City | WYOMISSING | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 196106008 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 231278971 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | UTILITIES EMPLOYEES CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | UTIL | BusinessNameControlTxt |
| Phone | 6109274000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 14864 | AddressLine1Txt |
| City | READING | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 19612 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | PHILLIP GEIGER | PersonNm |
| Person Title | VP/CFO | PersonTitleTxt |
| Phone | 6109274000 | PhoneNum |
| Signature | 2023-10-30 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | PHILLIP | PersonFirstNm |
| Person Last | GEIGER | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | RUTHANN J WOLL CPA | PreparerPersonNm |
| PTIN | P00647342 | PTIN |
| Phone | 6103761595 | PhoneNum |
| Preparation | 2023-10-30 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | BRET KREVOLIN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 14864 | AddressLine1Txt |
| City | READING | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 19612 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $43,117,381 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.UECU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1934 | FormationYr |
| Legal Domicile State | PA | LegalDomicileStateCd |
| Activity Or Mission | UECU IS A NOT-FOR-PROFIT COOPERATIVE FINANCIAL INSTITUTION, OWNED BY ITS MEMBERS, OPERATED FOR THE PURPOSE OF PROMOTING THRIFT, PROVIDING CREDIT AT REASONABLE RATES AND PROVIDING OTHER FINANCIAL SERVICES TO OUR MEMBERS | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 8 | VotingMembersIndependentCnt |
| Total Employee | 106 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $20,605,959 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $25,595,750 | CYProgramServiceRevenueAmt |
| PY Investment Income | $14,198,071 | PYInvestmentIncomeAmt |
| CY Investment Income | $13,119,359 | CYInvestmentIncomeAmt |
| PY Other Revenue | $598,859 | PYOtherRevenueAmt |
| CY Other Revenue | $351,710 | CYOtherRevenueAmt |
| PY Total Revenue | $35,402,889 | PYTotalRevenueAmt |
| CY Total Revenue | $39,066,819 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $10,228,545 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $10,889,066 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $13,840,534 | PYOtherExpensesAmt |
| CY Other Expenses | $17,619,366 | CYOtherExpensesAmt |
| PY Total Expenses | $24,069,079 | PYTotalExpensesAmt |
| CY Total Expenses | $28,508,432 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $11,333,810 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $10,558,387 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,413,911,583 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,302,494,808 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,215,782,896 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,183,288,386 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $198,128,687 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $119,206,422 | NetAssetsOrFundBalancesEOYAmt |
| Mission | UECU IS A NOT-FOR-PROFIT COOPERATIVE FINANCIAL INSTITUTION, OWNED BY ITS MEMBERS, OPERATED FOR THE PURPOSE OF PROMOTING THRIFT, PROVIDING CREDIT AT REASONABLE RATES AND PROVIDING OTHER FINANCIAL SERVICES TO OUR MEMBERS | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | CREDIT UNIONS ARE COOPERATIVE SAVINGS AND CREDIT ASSOCIATIONS INCORPORATED FOR THE PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS CREATING A SOURCE OF CREDIT FOR SUCH MEMBERS AT REASONABLE RATES OF INTEREST AND PROVIDING AN OPPORTUNITY FOR ITS MEMBERS TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 23999 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 106 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | Yes (1) | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 8 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (1) | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (1) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PHILLIP GEIGER VPCFO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6109274060 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 11 MERIDIAN BOULEVARD | AddressLine1Txt |
| City | WYOMISSING | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 19610 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (22 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| BRET KREVOLIN | ||||||||
| PRESIDENT/CEO | 50.00 | Yes (X) | Yes (X) | $1,083,256 | $0 | $44,104 | ||
| ALAN METZLER | ||||||||
| CHAIRPERSON | 5.00 | Yes (X) | $23,500 | $0 | $0 | |||
| JOSEPH DEANE | ||||||||
| VICE CHAIRPERSON | 3.00 | Yes (X) | $14,000 | $0 | $0 | |||
| ANDREW KOEHLER | ||||||||
| DIRECTOR | 3.00 | Yes (X) | $13,500 | $0 | $0 | |||
| DANIEL FURLONG | ||||||||
| DIRECTOR (ENDING 3/2022) | 3.00 | Yes (X) | $0 | $0 | $0 | |||
| THOMAS O'BRIEN | ||||||||
| DIRECTOR | 3.00 | Yes (X) | $12,000 | $0 | $0 | |||
| RICHARD BENSON | ||||||||
| DIRECTOR | 3.00 | Yes (X) | $13,000 | $0 | $0 | |||
| JAQUANA MILES | ||||||||
| DIRECTOR | 3.00 | Yes (X) | $12,000 | $0 | $0 | |||
| DAVID OKUWOBI | ||||||||
| DIRECTOR | 3.00 | Yes (X) | $11,000 | $0 | $0 | |||
| KRISTINE PIZZO | ||||||||
| DIRECTOR | 3.00 | Yes (X) | $9,500 | $0 | $0 | |||
| R SCOTT NEAVE | ||||||||
| VP IT & OPERATIONS | 50.00 | Yes (X) | $292,769 | $0 | $32,761 | |||
| MICHAEL MALONE | ||||||||
| VP LENDING (ENDING 7/2022) | 50.00 | Yes (X) | $153,968 | $0 | -$45,199 | |||
| PHILLIP GEIGER | ||||||||
| VP/CFO | 50.00 | Yes (X) | $262,778 | $0 | $32,747 | |||
| TERRANCE LARKIN | ||||||||
| VP MEMBER EXPERIENCE | 50.00 | Yes (X) | $239,422 | $0 | $13,939 | |||
| JENNIFER EWING | ||||||||
| VP COMPLIANCE/GENERAL COUN | 50.00 | Yes (X) | $239,948 | $0 | $31,331 | |||
| JULIE WARD | ||||||||
| VP LENDING (BEGINNING 7/2022) | 50.00 | Yes (X) | $156,513 | $0 | $27,761 | |||
| ROBERT HALL | ||||||||
| INVESTMENT OFFICER | 50.00 | $208,032 | $0 | -$41,182 | Yes (X) | |||
| ANDREW SINGERLING | ||||||||
| IT MANAGER | 50.00 | $149,477 | $0 | -$55,138 | Yes (X) | |||
| KENNETH HEYDT | ||||||||
| FINANCE MANAGER/CONTROLLER | 50.00 | $154,169 | $0 | -$22,027 | Yes (X) | |||
| DAVID BOGART | ||||||||
| SR IT BUSINESS ANALYST | 50.00 | $145,645 | $0 | -$35,120 | Yes (X) | |||
| JENNIFER POLOSKI | ||||||||
| COMPLIANCE OFFICER | 50.00 | $127,730 | $0 | $29,658 | Yes (X) | |||
| ERIC STEFFY | ||||||||
| IT NETWORK & OPER MGR | 50.00 | $132,541 | $0 | $17,826 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,454,748 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $31,461 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 24 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| VERIS BENEFITS CONSORTIUM | |||||
| PO BOX 5406 | LANCASTER | PA | 17606 | SELF-INSURED MEDICAL BENEFITS | $892,120 |
| TANGO CARD | |||||
| 4700 42ND AVE SW STE 430A | SEATTLE | WA | 98116 | VANTAGE POINTS REWARDS PROGRAM | $640,000 |
| LUMIN DIGITAL | |||||
| 560 CARILLON PARKWAY | ST PETERSBURG | FL | 33716 | DIGITAL BANKING PLATFORM PROVIDER | $552,550 |
| VISA INC | |||||
| 900 METRO CENTER BLVD | FOSTER CITY | CA | 94404 | DEBIT AND CREDIT CARD PROCESSING | $324,942 |
| JACK HENRY & ASSOCIATES | |||||
| PO BOX 609 | MONETT | MO | 65708 | CORE SYSTEM | $316,674 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 18 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| INCOME ON LOANS | 522100 | $20,370,453 | $20,370,453 |
| DEBIT AND CREDIT CARD INTERCHANGE | 522100 | $2,370,764 | $2,370,764 |
| FEES & CHARGES | 522100 | $2,310,672 | $2,310,672 |
| RETAIL AND BROKERAGE INCOME | 522100 | $543,861 | $543,861 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $25,595,750 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $13,201,697 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $13,201,697 | RelatedOrExemptFuncIncomeAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $3,968,224 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $4,050,562 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$82,338 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$82,338 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$82,338 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | RECOVERY OF PRIOR IMPAIRMENT | Desc |
| Business | 522100 | BusinessCd |
| Total Revenue Column | $351,710 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $351,710 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $351,710 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $39,066,819 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $39,066,819 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,994,098 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,373,476 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $21,317 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $878,358 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $621,817 | TotalAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $417,567 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $26,954 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $93,543 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $465,101 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,482,475 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $461,631 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,231,396 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $251,385 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,653 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $26,720 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,060,492 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $426,344 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $116,442 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PROVISION FOR LOAN LOSS | $1,450,000 |
| DEBIT/CC EXPENSES | $735,238 |
| ALL OTHER EXPENSES | $665,024 |
| LOAN SERVICING | $443,766 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $257,635 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $28,508,432 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $134,887 | BOYAmt |
| EOY | $175,528 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $42,823,664 | BOYAmt |
| EOY | $13,711,725 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,105,132 | BOYAmt |
| EOY | $3,655,362 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $451,268,277 | BOYAmt |
| EOY | $569,075,101 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,907,943 | BOYAmt |
| EOY | $3,325,988 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $16,187,504 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $6,981,717 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,461,629 | BOYAmt |
| EOY | $9,205,787 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $880,928,937 | BOYAmt |
| EOY | $678,810,833 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,040,100 | BOYAmt |
| EOY | $1,051,700 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $300,599 | BOYAmt |
| EOY | $250,499 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,940,415 | BOYAmt |
| EOY | $23,232,285 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,413,911,583 | BOYAmt |
| EOY | $1,302,494,808 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,941,019 | BOYAmt |
| EOY | $6,007,205 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,209,841,877 | BOYAmt |
| EOY | $1,177,281,181 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,215,782,896 | BOYAmt |
| EOY | $1,183,288,386 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $198,128,687 | BOYAmt |
| EOY | $119,206,422 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $198,128,687 | BOYAmt |
| EOY | $119,206,422 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,413,911,583 | BOYAmt |
| EOY | $1,302,494,808 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $10,558,387 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$90,611,947 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $1,131,295 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,161,950 | OtherCostOrOtherBasisAmt |
| Book Value | $3,161,950 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $9,345,009 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,600,677 | DepreciationAmt |
| Book Value | $5,744,332 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,680,545 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,381,040 | DepreciationAmt |
| Book Value | $299,505 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $9,205,787 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (5 entries)
| DescDesc | AmtAmt |
|---|---|
| SHARE DRAFT | $62,679,520 |
| MONEY MARKET SAVINGS | $671,924,176 |
| REGULAR SHARES | $189,425,033 |
| IRA SHARES | $48,344,764 |
| CERTIFICATES OF DEPOSIT | $204,907,688 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,177,281,181 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $38,086,617 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | -$980,202 | OtherRevenueAmt |
| Revenue Not Reported | -$980,202 | RevenueNotReportedAmt |
| Revenue Subtotal | $39,066,819 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $39,066,819 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $28,508,432 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $28,508,432 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $28,508,432 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. HOWEVER, AS A STATE-CHARTERED COOPERATIVE ASSOCIATION, THE CREDIT UNION IS POTENTIALLY SUBJECT TO FEDERAL TAX ON ITS UNRELATED BUSINESS INCOME, AS DEFINED IN THE INTERNAL REVENUE SERVICE REGULATIONS. THE CREDIT UNION'S WHOLLY-OWNED SUBSIDIARY IS ORGANIZED AS A LIMITED LIABILITY COMPANY. AS SUCH, THE SUBSIDIARY'S TAXABLE INCOME OR LOSS IS PASSED THROUGH TO THE CREDIT UNION. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | CHANGES IN MARKET VALUE OF EQUITY SECURITIES AND MUTUAL FUNDS -980,202. |
| PART X, LINE 2: | THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY ON EXAMINATION BY TAX PRIORITIES. |
| PART X, LINE 2: | THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED IN INTERNAL REVENUE COD (IRC) SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (UBI) DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE (IRS) RELEASED TECHNICAL ADVICE MEMORANDUMS (TAMS) TO SPECIFIC STATE-CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). UBI MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. |
| PART X, LINE 2: | MANAGEMENT HAS ASSESSED THE CREDIT UNION'S ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY AND DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2021, 2020, 2019 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS. THE FILING YEARS OPEN FOR EXAMINATION BY THE STATE, IF APPLICABLE, MAY BE EQUAL TO, GREATER THAN OR LESS THAN THE YEARS OPEN FOR EXAMINATION BY THE IRS. |
| PART X, LINE 2: | THE CREDIT UNION'S WHOLLY-OWNED SUBSIDIARY IS ORGANIZED AS A LIMITED LIABILITY COMPANY. AS SUCH, THE SUBSIDIARY'S TAXABLE INCOME OR LOSS IS PASSED THROUGH TO THE CREDIT UNION. DURING THE YEARS ENDED DECEMBER 31, 2022 AND 2021, THE CREDIT UNION DID NOT RECOGNIZE ANY UNRELATED BUSINESS INCOME TAX LIABILITIES OR BENEFITS. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Idemnification Gross Up Pmts | Yes (X) | IdemnificationGrossUpPmtsInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (9 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BRET KREVOLIN | ||||||||||||||
| PRESIDENT/CEO | $463,966 | $0 | $264,401 | $0 | $354,889 | $0 | $24,400 | $0 | $19,704 | $0 | $1,127,360 | $0 | $0 | $0 |
| R SCOTT NEAVE | ||||||||||||||
| VP IT & OPERATIONS | $239,982 | $0 | $49,325 | $0 | $3,462 | $0 | $23,380 | $0 | $9,381 | $0 | $325,530 | $0 | $0 | $0 |
| PHILLIP GEIGER | ||||||||||||||
| VP/CFO | $215,955 | $0 | $43,650 | $0 | $3,173 | $0 | $21,283 | $0 | $11,464 | $0 | $295,525 | $0 | $0 | $0 |
| JENNIFER EWING | ||||||||||||||
| VP COMPLIANCE/GENERAL COUN | $190,842 | $0 | $49,106 | $0 | $0 | $0 | $19,867 | $0 | $11,464 | $0 | $271,279 | $0 | $0 | $0 |
| TERRANCE LARKIN | ||||||||||||||
| VP MEMBER EXPERIENCE | $196,161 | $0 | $40,376 | $0 | $2,885 | $0 | -$295 | $0 | $14,234 | $0 | $253,361 | $0 | $0 | $0 |
| JULIE WARD | ||||||||||||||
| VP LENDING (BEGINNING 7/2022) | $141,512 | $0 | $12,650 | $0 | $2,351 | $0 | $12,828 | $0 | $14,933 | $0 | $184,274 | $0 | $0 | $0 |
| ROBERT HALL | ||||||||||||||
| INVESTMENT OFFICER | $187,184 | $0 | $20,848 | $0 | $0 | $0 | -$48,960 | $0 | $7,778 | $0 | $166,850 | $0 | $0 | $0 |
| JENNIFER POLOSKI | ||||||||||||||
| COMPLIANCE OFFICER | $108,862 | $0 | $18,868 | $0 | $0 | $0 | $10,630 | $0 | $19,028 | $0 | $157,388 | $0 | $0 | $0 |
| ERIC STEFFY | ||||||||||||||
| IT NETWORK & OPER MGR | $116,344 | $0 | $16,197 | $0 | $0 | $0 | $9,981 | $0 | $7,845 | $0 | $150,367 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE J, PART 1, LINES 1B AND 4B: | THE CREDIT UNION AND ITS PRESIDENT/CEO, BRET KREVOLIN, ARE PARTIES TO A RESTRICTIVE BONUS PLAN (RBP) DATED DECEMBER 27, 2019. THE CREDIT UNION PAYS THE ANNUAL PREMIUM ON A LIFE INSURANCE POLICY OWNED BY MR. KREVOLIN. SINCE THE PREMIUM IS CONSIDERED COMPENSATION TO MR. KREVOLIN, HE IS PROVIDED A BONUS ANNUALLY TO COVER HIS PERSONAL TAX LIABILITY RELATED TO THE PREMIUM PAYMENTS AND THE RBP. THE RBP WILL PROVIDE MR. KREVOLIN WITH RETIREMENT INCOME AND DEATH BENEFIT. |
| SCHEDULE J, PART II, COLUMN C: | RETIREMENT AND OTHER DEFERRED COMPENSATION INCLUDED THE CHANGE IN THE ACTUARIAL PRESENT VALUE OF PENSION BENEFITS FOR THOSE PARTICIPATING IN THE CREDIT UNION'S NONCONTRIBUTORY DEFINED BENEFIT PENSION PLAN ("PLAN"). THE PLAN COVERS SUBSTANTIALLY ALL EMPLOYEES WHO WERE HIRED BEFORE DECEMBER 31, 2009. MR. KREVOLIN, MR. GEIGER, MS. EWING, MR. NEAVE, MS. WARD, MS. POLOSKI AND MR. STEFFY WERE HIRED AFTER THAT DATE AND, THEREFORE, ARE NOT COVERED UNDER THE PLAN. ACTUAL BENEFITS PAYABLE UNDER THIS PLAN WERE FROZEN JANUARY 1, 2013 AND NO FUTURE SERVICE AND SALARY INCREASE BENEFITS CAN BE EARNED BY PARTICIPANTS AFTER THAT DATE. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (12 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 3 | THE CREDIT UNION UTILIZES ALPINE CYBER SOLUTIONS, LLC TO OVERSEE STRATEGY AND OPERATIONS RELATED TO THE PROTECTION OF INFORMATION ASSETS OF THE CREDIT UNION. THEY ARE ALSO RESPONSIBLE FOR UPDATING AND IMPLEMENTING APPROPRIATE POLICIES AND PROCEDURES AND THE SECURITY OF APPLICATIONS AND INFRASTRUCTURE. THE CREDIT UNION HAS AN INVESTMENT ADVISORY AGREEMENT WITH ELITE CAPITAL MANAGEMENT GROUP, LLC WHICH PROVIDES THEM WITH DISCRETIONARY APPROVAL TO MANAGE AND INVEST FUNDS FOR THE UTILITIES EMPLOYEES CREDIT UNION'S EMPLOYEE BENEFIT PRE-FUNDING INVESTMENT ACCOUNT. AS OF DECEMBER 31, 2022, THE VALUE OF INVESTMENTS MANAGED BY ELITE CAPITAL MANAGEMENT GROUP, LLC WAS APPROXIMATELY $29 MILLION. |
| FORM 990, PART VI, SECTION A, LINE 4 | THE CREDIT UNION MADE CHANGES TO THEIR BY LAWS AS OF MARCH 31, 2022. THESE CHANGES INCLUDE 1) DIRECTORS ARE LIMITED TO SERVE FIVE, THREE YEAR TERMS CONSECUTIVELY FOR A TOTAL OF 15 YEARS OF SERVICE, EXCEPT AS PERMITTED BY THE BOARD OF DIRECTORS 2) DIRECTORS MAY BE COMPENSATED FOR SERVICES RENDERED TO THE CREDIT UNION IN THEIR CAPACITY AS A DIRECTOR TO THE EXTENT PERMITTED BY LAW AND IN ACCORDANCE WITH A POLICY ESTABLISHED BY THE BOARD 3) SUPERVISORY COMMITTEE MEMBERS MAY BE COMPENSATED FOR SERVICES RENDERED TO THE CREDIT UNION IN THEIR CAPACITY AS SUPERVISORY COMMITTEE MEMBERS, TO THE EXTENT PERMITED BY LAW AND IN ACCORDANCE WITH A POLICY ESTABLISHED BY THE BOARD. |
| FORM 990, PART VI, SECTION A, LINE 6 | UECU IS A NOT-FOR-PROFIT COOPERATIVE FINANCIAL INSTITUTION, OWNED BY ITS MEMBERS, OPERATED FOR THE PURPOSE OF PROMOTING THRIFT, PROVIDING CREDIT AT REASONABLE RATES, AND PROVIDING OTHER FINANCIAL SERVICES TO ITS MEMBERS |
| FORM 990, PART VI, SECTION A, LINE 7A | THE MEMBERS OWN THE ORGANIZATION AND ELECT ALL MEMBERS OF THE GOVERNING BODY |
| FORM 990, PART VI, SECTION A, LINE 7B | THERE IS NO SPECIFIC CLASS FOR ANY MEMBER. EACH MEMBER HAS EQUAL VOTING RIGHTS WHEN MAKING DECISIONS. DECISIONS THAT REQUIRE APPROVAL INCLUDE AMENDMENT OF BYLAWS AND ELECTION OF OFFICIALS (BOARD OF DIRECTORS). |
| FORM 990, PART VI, SECTION B, LINE 11B | FORM 990 IS PREPARED BY AN INDEPENDENT PUBLIC ACCOUNTANT. THE FORM 990 WAS REVIEWED BY THE CONTROLLER, CFO, AND CEO. IN ADDITION, THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE FORM PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | BUSINESS ETHICS AND ANTI-FRAUD POLICY PROVIDED AND REVIEWED WITH NEW EMPLOYEES AND VOLUNTEERS (BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE). ON AN ANNUAL BASIS, EACH EMPLOYEE AND VOLUNTEER MUST FILE A STATEMENT ACKNOWLEDGING RECEIPT OF THE MOST RECENT POLICY AND COMPLIANCE WITH THE POLICY. THE AFFIMATION IS MAINTAINED BY THE CREDIT UNION'S IN-HOUSE LEGAL COUNSEL. THE PRESIDENT/CEO HAS AUTHORITY TO RESOLVE QUESTIONS DEALING WITH CONFLICTS OF INTEREST. SUSPECTED CONFLICTS MAY ALSO BE REPORTED TO THE CREDIT UNION'S SUPERVISORY COMMITTEE. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS ANNUALLY REVIEWS AND APPROVES THE CEO'S SALARY AND INCENTIVE COMPENSATION PROGRAM/PAYMENT. THE COMMITTEE ALSO PROVIDES OVERSIGHT TO THE CEO IN EVALUATING THE MARKET AND ESTABLISHING COMPENSATION PACKAGES FOR THE EXECUTIVE MANAGEMENT TEAM. THE COMMITTEE EMPLOYS THE SERVICES OF AN INDEPENDENT COMPENSATION CONSULTANT IN FULFILLING ITS RESPONSIBILITIES. THE CONSULTANT PROVIDES AN ANNUAL EXECUTIVE COMPENSATION UPDATE THAT ALLOWS THE COMMITTEE TO MONITOR TRENDS IN THE CREDIT UNION INDUSTRY TO ENSURE THE CEO AND EXECUTIVE TEAM COMPENSATION REMAIN IN AN APPROPRIATE RELATIONSHIP TO THE MARKET, IN ACCORDANCE WITH THE CREDIT UNION'S COMPENSATION PHILOSOPHY. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE CREDIT UNION'S ANNUAL REPORT IS PUBLISHED ON THE ORGANIZATION'S WEBSITE. COPIES OF THE AUDITED FINANCIAL STATEMENTS ARE ALSO MADE AVAILABLE TO MEMBERS, UPON REQUEST. ADDITIONALLY, THE QUARTERLY CALL REPORT IS AVAILABLE FOR PUBLIC VIEWING ON NCUA.GOV. THE CREDIT UNION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | NET CHANGE IN DEFINED BENEFIT PENSION PLAN 130,468. NET CHANGE IN POST-RETIREMENT HEALTHCARE PLAN 1,008,394. RECLASSIFICATION ADJUSTMENT FOR NET INVESTMENT GAINS INCLUDED IN NET INCOME -7,567. |
| FORM 990, PART XII, LINE 2C | THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. |
| FORM 990, PART XI, LINE 5 | THE NET UNREALIZED LOSSES ON AVAILABLE-FOR-SALE INVESTMENTS IS A RESULT OF LARGE INCREASES IN MARKET RATES AND NOT CREDIT QUALITY ISSUES. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ADVANTAGE FINANCIAL SERVICES LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 11 MERIDIAN BLVD | AddressLine1Txt |
| City | WYOMISSING | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 19610 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 271678918 | EIN |
| Primary Activities | CLERICAL, PROFESSIONAL, & MANAGEMENT SERVICES | PrimaryActivitiesTxt |
| Legal Domicile State | PA | LegalDomicileStateCd |
| Total Income | $0 | TotalIncomeAmt |
| End Of Year Assets | $60 | EndOfYearAssetsAmt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | UTILITIES EMPLOYEES CU | BusinessNameLine1Txt |
Comments