2023-11-14T15:38:49-06:00 2022-12-31 420714325 RSM US LLP 4650 EAST 53RD STREET DAVENPORT IA 528073479 990 2022-01-01 951981100 CHRISTIAN COMMUNITY CREDIT UNION CHRI 8003472228 255 N LONE HILL AVENUE SAN DIMAS CA 917732308 JASON THOMAS SVP/CFO 8003472228 2023-11-14 1 JASON THOMAS XXX-XX-XXXX 0 JENIFER L CHASE P01306883 5638884000 2023-11-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z BLAIR KORSCHUN 255 N LONE HILL AVENUE SAN DIMAS CA 917732308 39091480 0 X WWW.MYCCCU.COM X 1957 CA THE CREDIT UNION IS OPERATED FOR THE PURPOSE OF PROMOTING THRIFT, PROVIDING CREDIT AT REASONABLE RATES, AND PROVIDING OTHER FINANCIAL SERVICES TO ITS MEMBERS. 6 5 142 9 116081 0 0 0 27855519 29894943 745206 8379158 70000 0 28670725 38274101 366961 210851 0 0 14572047 15082997 0 0 0 12884286 14431685 27823294 29725533 847431 8548568 862846782 880133266 768379133 778706074 94467649 101427192 X THE MISSION OF CHRISTIAN COMMUNITY CREDIT UNION IS TO SERVE CHRIST FOLLOWERS TO LIVE AND GIVE MORE ABUNDANTLY. 0 0 CHRISTIAN COMMUNITY CREDIT UNION (THE CREDIT UNION) OFFERS A FULL RANGE OF BANKING SERVICES TO ITS MEMBERS, BOTH RETAIL AND MINISTRY. AS OF 12/31/22, OUR MEMBERS HAD $772,924,178 ON DEPOSIT IN INSURED ACCOUNTS IN THE CREDIT UNION. THE CREDIT UNION HAD $109,362,794 IN SAVINGS ACCOUNTS, $236,912,376 IN CHECKING ACCOUNTS, $233,048,244 IN MONEY MARKET, AND $193,600,765 IN CERTIFICATES OF DEPOSIT AND IRAS. THE COST OF FUNDS AT YEAR-END ON THESE ACCOUNTS WAS 0.5%. THE CREDIT UNION BEGAN THE YEAR WITH 28,762 MEMBERS AND ENDED THE YEAR WITH 29,379 MEMBERS FOR AN INCREASE OF 617. THE CREDIT UNION HAD 27,464 IN INDIVIDUAL ACCOUNTS AND 1,915 IN MINISTRY ACCOUNTS AT YEAR-END. CHRISTIAN COMMUNITY CREDIT UNION (THE CREDIT UNION) EXISTS TO PROVIDE LOANS TO ITS MEMBERS AT RATES AND TERMS NOT AVAILABLE TO OUR FIELD OF MEMBERSHIP THROUGH BANKS OR OTHER FINANCIAL INSTITUTIONS. THE LARGEST PORTION OF OUR RETAIL LOAN PORTFOLIO IS MADE UP OF FIRST TRUST DEED LOANS. THE CREDIT UNION HAD $279,183,013 IN RETAIL FIRST TRUST DEED LOANS AS OF 12/31/22. THEY REPRESENT 41% OF OUR LOAN PORTFOLIO AND 32% OF OUR TOTAL ASSETS. THE AVERAGE YIELD ON THESE LOANS WAS 3%. THE PORTFOLIO INCREASED 1% DURING 2022. CHRISTIAN COMMUNITY CREDIT UNION'S (THE CREDIT UNION) FIELD OF MEMBERSHIP INCLUDES MANY CHURCHES AND MINISTRIES. THE CREDIT UNION PROVIDES LOANS TO THESE MEMBERS TO BUY, BUILD, OR RENOVATE REAL PROPERTY AT RATES AND TERMS NOT AVAILABLE TO THEM THROUGH BANKS OR OTHER FINANCIAL INSTITUTIONS. THE LARGEST PORTION OF OUR MINISTRY LOAN PORTFOLIO IS MADE UP OF FIRST TRUST DEED LOANS. THE CREDIT UNION HAD $294,520,197 IN OUTSTANDING FIRST TRUST DEED LOANS TO CHURCHES AND MINISTRIES AS OF 12/31/22. THEY REPRESENT 44% OF OUR LOAN PORTFOLIO AND 33% OF OUR TOTAL ASSETS. THE YIELD ON THESE LOANS WAS 4%. THE PORTFOLIO INCREASED 21% DURING 2022. CREDIT UNION CONSUMER LENDING: THE CREDIT UNION HAS $28,476,873 IN CAR LOANS, $21,225,012 IN CREDIT CARD ACCOUNTS AND $2,596,370 IN STUDENT LOANS. 0 0 1 0 0 0 0 1 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 11223 0 1 142 1 1 1 0 0 0 0 0 0 0 X 6 5 0 0 0 0 1 1 0 1 0 0 0 1 1 1 1 1 1 1 0 0 X JASON THOMAS 8003472228 255 N LONE HILL AVENUE SAN DIMAS CA 917732308 STUART BLAIR KORSCHUN PRESIDENT/CEO 40.00 X X 865376 0 63347 MARK BARGAEHR DIRECTOR 1.00 X 5161 0 0 DOROTHY KIM DIRECTOR 1.00 X 3628 0 0 CATHY BARRETT FORMER TREASURER 1.00 X X 0 0 0 RICK BEE SECRETARY 1.00 X X 4198 0 0 MICHAEL PATE VICE CHAIR 1.00 X X 3116 0 0 DALE TORRY CHAIR 1.00 X 4347 0 0 MARJORIE HUGHES EVP/COO 40.00 X 431581 0 44506 JASON THOMAS SVP/CFO 40.00 X 336154 0 72960 MICHAEL POIRIER SVP/MINISTRY LENDING 40.00 X 311194 0 64084 AARON CAID SVP/CMO 40.00 X 295614 0 74897 DAVID SOUTH SVP/HUMAN RESOURCES 40.00 X 327457 0 43093 JOHN SILVIS SVP/CTO 40.00 X 275061 0 59716 TIM LAWRENCE VP/MDG OPERATIONS 40.00 X 267203 0 55077 CHARLANDA ALLEN AVP/RISK MANAGEMENT 40.00 X 161091 0 40757 JEREMIAH BROWN SR. MDO 40.00 X 172455 0 30806 HAMID SAMADOFF VP/ACCOUNTING 40.00 X 156310 0 39030 DONNA ESSE VP/ELECTRONIC SERVICES 40.00 X 159792 0 22358 JOHN WALLING FORMER CEO 0.00 X 157838 0 0 3937576 0 610631 32 1 1 0 PSCU FINANCIAL 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT CARD PROCESSING 2486156 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 EPISYS CU CORE SYSTEM 703576 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 900740641 MEMBER PC BANKING SERVICE 611687 FINANCIAL SERVICE CENTER COOP FSCC 9692 HAVEN AVE RANCHO CUCAMONGA CA 91730 SHARE BRANCH TRANSACTION SVCS 231243 FIS PO BOX 4535 CAROL STREAM IL 601974535 CHEXSYSTEMS, XPRESS DEP. SVCS & COMMERCI 229666 13 INTEREST ON LOANS 522100 24200366 24200366 INTERCHANGE INCOME 522100 3061387 3060162 1225 FEE INCOME 522100 1237126 1233981 3145 LOAN SERVICES 522100 1005345 1005345 MISCELLANEOUS INCOME 522100 274620 174720 99900 116099 104288 11811 29894943 3827858 3827858 5368679 817379 4551300 4551300 4551300 38274101 29778862 116081 8379158 175851 35000 3285495 6711237 996266 3285127 804872 38835 42731 284094 390089 947130 1258050 2140640 332428 271982 38700 338134 136934 DIVIDENDS PAID TO MEMBE 3139651 LOAN SERVICING EXPENSE 1103604 CU REWARDS PROGRAMS 1065066 PROVISION FOR LOAN LOSS 927853 1975764 29725533 338943 207178 222491524 109101786 557254 224529 591025794 673506113 1054716 1062567 13569661 8335606 6090548 5234055 10437348 58393822 30850655 32403216 862846782 880133266 5444332 5713203 128485 68693 0 3866 762806316 772920312 768379133 778706074 X 0 0 0 0 94467649 101427192 94467649 101427192 862846782 880133266 8548568 -1589025 0 X X 0 0 0 2889 2889 2889 1 CALIFORNIA CREDIT UNION LEAGUE 2855 E GUASTI RD SUITE 600 ONTARIO CA 917611250 942329967 2889 1414 PART I-A, LINE 1: CHRISTIAN COMMUNITY CREDIT UNION (THE CREDIT UNION) MAKES AN ANNUAL CONTRIBUTION TO THE CALIFORNIA CREDIT UNION LEAGUES FEDERAL POLITICAL ACTION COMMITTEE. IN ADDITION, EMPLOYEES OF THE CREDIT UNION ARE ALLOWED TO MAKE CONTRIBUTIONS TO THE CALIFORNIA CREDIT UNION LEAGUES FEDERAL POLITICAL ACTION COMMITTEE THROUGH THE CREDIT UNION. 0 1 X 1553116 1553116 6225544 2904449 3321095 3408124 3149142 258982 2382877 2282015 100862 5234055 CREDIT UNION CERTIFICATES 7548027 C CAPITAL SHARES 1000000 C FHLB CAPITAL STOCK 3762200 C GOVT SECURITIES 46083595 F 58393822 MEMBER SHARE DEPOSITS 772920312 772920312 PART IV, LINE 2B: CHRISTIAN COMMUNITY CREDIT UNION COLLECTS THE ESCROW PAYMENTS FROM ITS MEMBERS AND THEN WE WIRE THE FUNDS TO ACCUMATCH, WHICH IS THE VENDOR USED FOR MAKING THE ESCROW PAYMENTS TO THE RELATED PARTIES. THE ESCROW ACCOUNTS ARE USED TO PAY FOR ITEMS SUCH AS REAL ESTATE TAXES OR HOMEOWNERS INSURANCE ON BEHALF OF MEMBERS. 1 AMERICAN BAPTIST HOME MISSIONS SOCIETIES 1075 1ST AVE KING OF PRUSSIA PA 19406 135602314 501(C)(3) 10000 0 PROGRAM SUPPORT BIOLA UNIVERSITY 13800 BIOLA AVE LA MIRADA CA 90639 950549600 501(C)(3) 5018 0 PROGRAM SUPPORT CALVARY GLOBAL NETWORK 2781 W MACARTHUR BLVD STE 660 SANTA ANA CA 92704 854334302 501(C)(3) 7030 0 PROGRAM SUPPORT CHRISTIAN ALLIANCE FOR ORPHANS 6723 WHITTIER AVE STE 202 MCLEAN VA 22101 261492375 501(C)(3) 32800 0 PROGRAM SUPPORT INTERNATIONAL MINISTRIES 1003 W 9TH AVE STE A KING OF PRUSSIA PA 19406 135563392 501(C)(3) 25422 0 PROGRAM SUPPORT MISSION AVIATION FELLOWSHIP 112 N PILATUS LN NAMPA ID 83687 951920983 501(C)(3) 70527 0 PROGRAM SUPPORT SAMARITAN'S PURSE PO BOX 3000 BOONE NC 28607 581437002 501(C)(3) 5054 0 PROGRAM SUPPORT TRANSFORMATION MINISTRIES 222 E GLENARM STE B2 PASADENA CA 91106 951691317 501(C)(3) 20000 0 PROGRAM SUPPORT 8 0 SCHOLARSHIP FOR STUDENTS ATTENDING CHRISTIAN COLLEGES 22 22000 SCHOLARSHIP FOR STUDENTS ATTENDING SECULAR COLLEGES 13 13000 PART I, LINE 2: CHRISTIAN COMMUNITY CREDIT UNION'S (THE CREDIT UNION) MISSIONS COMMITTEE DETERMINES WHICH ORGANIZATIONS TO DONATE MONEY TO BASED ON NEEDS. INFORMATION IS REQUESTED RELATED TO HOW THE FUNDS WOULD BE USED AND THE MISSIONS COMMITTEE DETERMINES WHICH ORGANIZATIONS WILL BE SUPPORTED. ONCE FUNDS ARE DONATED THEY ARE NOT MONITORED PER SE, BUT OFTEN THE ORGANIZATIONS PROVIDE UPDATES. THE CREDIT UNION DOES NOT MONITOR SCHOLARSHIP FUNDS ONCE THEY ARE DISBURSED. THE CREDIT UNION DOES NOT REQUIRE THAT THE SCHOLARSHIP FUNDS BE USED FOR ANY SPECIFIC SCHOOL RELATED EXPENSE, THUS THERE IS NO MONITORING INVOLVED. X X 1 1 X X X X 0 1 0 STUART BLAIR KORSCHUN PRESIDENT/CEO 527758 0 146232 0 191386 0 35367 0 27980 0 928723 0 0 0 MARJORIE HUGHES EVP/COO 382394 0 36471 0 12716 0 35367 0 9139 0 476087 0 0 0 JASON THOMAS SVP/CFO 298166 0 8715 0 29273 0 34660 0 38300 0 409114 0 0 0 MICHAEL POIRIER SVP/MINISTRY LENDING 274242 0 7726 0 29226 0 33926 0 30158 0 375278 0 0 0 DAVID SOUTH SVP/HUMAN RESOURCES 292944 0 25286 0 9227 0 33977 0 9116 0 370550 0 0 0 AARON CAID SVP/CMO 271658 0 7788 0 16168 0 33330 0 41567 0 370511 0 0 0 JOHN SILVIS SVP/CTO 256571 0 6931 0 11559 0 30866 0 28850 0 334777 0 0 0 TIM LAWRENCE VP/MDG OPERATIONS 146030 0 119268 0 1905 0 24222 0 30855 0 322280 0 0 0 JEREMIAH BROWN SR. MDO 107588 0 64558 0 309 0 15651 0 15155 0 203261 0 0 0 CHARLANDA ALLEN AVP/RISK MANAGEMENT 153408 0 4233 0 3450 0 14093 0 26664 0 201848 0 0 0 HAMID SAMADOFF VP/ACCOUNTING 149119 0 4212 0 2979 0 13546 0 25484 0 195340 0 0 0 DONNA ESSE VP/ELECTRONIC SERVICES 149942 0 4284 0 5566 0 13844 0 8514 0 182150 0 0 0 JOHN WALLING FORMER CEO 0 0 0 0 157838 0 0 0 0 0 157838 0 0 0 PART I, LINE 1A SENIOR MANAGEMENT MAY PERIODICALLY APPROVE THE REIMBURSEMENT OF TRAVEL EXPENSES FOR A GUEST. THE INTERNAL REVENUE SERVICE CONSIDERS REIMBURSEMENTS FOR GUEST TRAVEL A TAXABLE FRINGE BENEFIT TO THE EMPLOYEE. ALL REIMBURSEMENTS MADE FOR GUEST TRAVEL EXPENSES MUST BE SUBMITTED TO PAYROLL FOR TAXATION (MANAGEMENT EXPENSE POLICY) OR TO ACCOUNTS PAYABLE (NON-EMPLOYEES) FOR REPORTING ON 1099-NEC. STUART BLAIR KORSCHUN, MARJORIE HUGHES, MARK BARGAEHR, DALE TORRY, RICK BEE, DOROTHY KIM, AND MICHAEL PATE ALL UTILIZED THIS BENEFIT. CHRISTIAN COMMUNITY CREDIT UNION ALSO OFFERED TAX INDEMNIFICATION AND GROSS-UP PAYMENTS TO AARON CAID, CHARLANDRA ALLEN, DAVID SOUTH, DONNA ESSE, HAMID SAMADOFF, JASON THOMAS, JOHN SILVIS, MARJORIE HUGHES, MIKE POIRIER, STUART BLAIR KORSCHUN, AND TIM LAWRENCE. THESE AMOUNTS ARE GROSSED UP AND INCLUDED ON THE EMPLOYEE'S PAYSTUB. PART I, LINE 4B THE FOLLOWING EXECUTIVES PARTICIPATED IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN SPONSORED BY CHRISTIAN COMMUNITY CREDIT UNION. THE EMPLOYER CONTRIBUTIONS ON BEHALF OF THE EXECUTIVES, ALONG WITH THE DISTRIBUTIONS MADE TO THE EXECUTIVES, ARE SHOWN BELOW AND REPORTED ON THE FORM 990, PART VII AND SCHEDULE J, PART II: AARON CAID - $12,000 CONTRIBUTION BLAIR KORSCHUN - $170,000 CONTRIBUTION MIKE PORIER - $27,500 CONTRIBUTION JASON THOMAS - $27,500 CONTRIBUTION JOHN SILVIS - $10,000 CONTRIBUTION JOHN T WAILING - $115,375 DISTRIBUTION FORM 990, PART VI, SECTION A, LINE 6 CHRISTIAN COMMUNITY CREDIT UNION HAS MEMBERS AS SPECIFIED IN ITS BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A CHRISTIAN COMMUNITY CREDIT UNION MEMBERS HAVE THE POWER TO ELECT THE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 8B CHRISTIAN COMMUNITY CREDIT UNION DOES NOT HAVE COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE CHIEF EXECUTIVE OFFICER, CHIEF FINANCIAL OFFICER, AND THE VICE PRESIDENT OF ACCOUNTING. A COPY OF FORM 990 IS ALSO PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C CHRISTIAN COMMUNITY CREDIT UNION HAS AN ANNUAL PROFESSIONAL CONDUCT QUESTIONNAIRE AND PROCESS. AT HIRE, THEN THEREAFTER ANNUALLY, STAFF, BOARD/EXECUTIVE TEAM/ASSOCIATE BOARD MEMBERS, COMPLETE A STANDARDS OF PROFESSIONAL CONDUCT QUESTIONNAIRE. ONCE COMPLETED, THEY ARE TURNED IN AND REVIEWED BY HUMAN RESOURCES. IF THERE ARE NO EXCEPTIONS, THE FORMS ARE FILED. IF THERE ARE EXCEPTIONS, THOSE FORMS ARE FORWARDED TO THE CHIEF EXECUTIVE OFFICER FOR REVIEW TO IDENTIFY OR QUESTION ANY AREAS OF CONCERN. IF THERE ARE NO CONCERNS TO THE EXCEPTIONS, THE CHIEF EXECUTIVE OFFICER SIGNS OFF AND DATES THE QUESTIONNAIRE INDICATING IT HAS BEEN REVIEWED. IF THERE IS AN EXCEPTION, THE MATTER WOULD BE FURTHER INVESTIGATED TO DETERMINE WHAT APPROPRIATE ACTION WOULD NEED TO BE TAKEN TO REMOVE THE CONFLICT OF INTEREST, WHICH COULD INCLUDE ACTIONS SUCH AS (BUT NOT LIMITED TO) TRANSFERS OUT THE DEPARTMENT, RE-ASSIGNMENT OF WORK, SUSPENSION UNTIL A CONFLICT COULD BE RESOLVED, OR TERMINATION OF EMPLOYMENT. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD UTILIZES A THIRD PARTY PROFESSIONAL CREDIT UNION PERSONNEL AGENCY AND A CREDIT UNION INDUSTRY SALARY SURVEY, WHICH PROVIDES DATA FROM COMPARABLE ORGANIZATIONS WHEN DETERMINING THE CHIEF EXECUTIVE OFFICER'S COMPENSATION. A BOARD COMMITTEE REVIEWS AND APPROVES THE COMPILED THIRD PARTY RECOMMENDATIONS AND DOCUMENTS THEIR DECISION THROUGH MEETING MINUTES. THE LAST TIME THIS PROCESS OCCURRED WAS IN JANUARY 2023. FORM 990, PART VI, SECTION C, LINE 19 CHRISTIAN COMMUNITY CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST IN THE SAME TIME AND MANNER AS OTHER DISCLOSURES REQUIRED UNDER INTERNAL REVENUE CODE SECTION 6104. FORM 990, PART XII, LINE 2B THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AUDITED ON A SEPARATE BASIS BY AN INDEPENDENT ACCOUNTANT. HOWEVER, THE FINANCIAL STATEMENTS ARE ON A FISCAL YEAR-END BASIS OF MARCH 31ST, WHILE THE ORGANIZATION'S TAX YEAR-END IS DECEMBER 31ST. FORM 990, PART I, LINES 14 & 17: IN 2022, CHRISTIAN COMMUNITY CREDIT UNION DETERMINED THAT IT WAS MORE APPROPRIATE TO INCLUDE IN THE PRIOR YEAR COLUMN FOR LINE 17 (OTHER EXPENSES) CERTAIN ITEMS INCLUDED IN PRIOR YEAR FORMS 990, PART IX, IN LINE 4 (BENEFITS PAID TO OR FOR MEMBERS). CONFORMING ADJUSTMENTS HAVE BEEN MADE TO THE CURRENT YEAR AMOUNTS LISTED IN THE CURRENT YEAR COLUMN OF PART I AND PART IX.