2022-05-11T17:04:25-05:00 2021-12-31 910189318 MOSS ADAMS LLP 601 W RIVERSIDE AVENUE STE 1800 SPOKANE WA 99201 990 2021-01-01 626039479 EASTMAN CREDIT UNION EAST 4232298200 PO BOX 1989 KINGSPORT TN 37662 KELLY PRICE PRESIDENT & CEO 4232298200 2022-05-10 1 KELLY PRICE 999009999 EMINA O CRESSWELL CPA P01217304 5097472600 2022-05-10 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z KELLY PRICE PO BOX 1989 KINGSPORT TN 37662 292260371 0 X WWW.ECU.ORG X 1934 TN OPERATED DURING 2021 AS A STATE CHARTERED CREDIT UNION WHOSE PURPOSE IS (CONTINUED ON SCHEDULE O)TO BE THE PREFERRED FINANCIAL INSTITUTION IN THE COMMUNITIES WE SERVE BY PROVIDING FINANCIAL PRODUCTS AND SERVICES WHICH ADD VALUE TO MEMBERS, GUIDED BY CREDIT UNION CO-OPERATIVE VALUES AND SERVICE EXCELLENCE EXPECTATIONS. 9 8 1080 8 840201 0 0 0 269461956 289341485 2316386 1703158 209925 190145 271988267 291234788 1006234 2655888 0 0 66144415 69918430 0 0 0 128153203 118424321 195303852 190998639 76684415 100236149 6139596788 7123603375 5409549664 6292378428 730047124 831224947 X OPERATED DURING 2021 AS A STATE CHARTERED CREDIT UNION WHOSE PURPOSE IS TO BE THE PREFERRED FINANCIAL INSTITUTION IN THE COMMUNITIES WE SERVE BY PROVIDING FINANCIAL PRODUCTS AND SERVICES WHICH ADD VALUE TO MEMBERS, GUIDED BY CREDIT UNION (CONTINUED ON SCHEDULE O)CO-OPERATIVE VALUES AND SERVICE EXCELLENCE EXPECTATIONS. 0 0 OPERATED DURING 2021 AS A STATE CHARTERED MUTUALLY OWNED CREDIT UNION THAT PROMOTED THRIFT BY MAINTAINING ACCOUNTS AND ISSUING SHARES RESULTING IN SUPERIOR VALUE. SERVED 283,812 MEMBERS WITH A VARIETY OF DEPOSIT PRODUCTS TOTALING $6,212,311,809. OPERATED DURING 2021 AS A STATE CHARTERED MUTUALLY OWNED CREDIT UNION THAT MADE LOANS TO ITS MEMBERS AT REASONABLE RATES OF INTEREST. MAINTAINED A LOAN PORTFOLIO COMPOSED OF CONSUMER, MORTGAGE, HOME EQUITY, VISA AND MEMBER BUSINESS LOANS THAT TOTALED $5,515,171,591. INVESTED ANY SURPLUS NOT REQUIRED FOR LOANS TO EXERCISE THOSE FUNCTIONS DESCRIBED IN THE LAW OF THE STATE OF TENNESSEE AUTHORIZING THE ORGANIZATION OF CREDIT UNIONS THEREBY FURNISHING OTHER COOPERATIVE FINANCIAL SERVICES TO MEMBERS. 0 0 1 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 440076 0 1 1080 1 1 1 0 0 0 0 0 0 0 X 9 8 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 1 1 X SCOTT DAVIS 4235787587 2021 MEADOWVIEW LANE KINGSPORT TN 37660 JEFF ANDERSON DIRECTOR 2.00 X 0 0 0 GARY BASS DIRECTOR 2.00 X 0 0 0 STEVE CRAWFORD DIRECTOR 2.00 X 0 0 0 KYLE MACIONE DIRECTOR 2.00 X 0 0 0 JENNIFER WOLFE DIRECTOR 2.00 X 0 0 0 E WAYNE KIRK CHAIRMAN OF THE BOARD 5.00 X X 0 0 0 NORRIS SNEED VICE CHAIRMAN OF THE BOARD 5.00 X X 0 0 0 JENNIFER STEWART SECRETARY/TREASURER OF THE BOARD 2.00 X X 0 0 0 KELLY PRICE PRESIDENT, CEO 40.00 X X 933614 0 17092 DARRELL DINSMORE SVP, CHIEF ADMINISTRATIVE OFFICER 40.00 X 404935 0 30672 TONJA FISH VP, CHIEF FINANCIAL OFFICER 40.00 X 402184 0 23044 DEBRA BRIDWELL SVP, CHIEF MARKETING / FACILITIES OFFICER 40.00 X 371282 0 25548 MATT WIMBERLEY VP, CHIEF LEGAL OFFICER/GEN. COUNSEL 40.00 X 297820 0 68737 JEREMIAH LOUNDS VP, CHIEF OPERATING OFFICER 40.00 X 282893 0 51860 MARK MILLWOOD VP, CHIEF HUMAN RESOURCE OFFICER 40.00 X 268392 0 49632 TAMMY LATTURE THROUGH 0521 SVP, MEMBER SERVICE/LENDING 40.00 X 256107 0 30470 DOLLY LINKOUS VP, CHIEF LENDING OFFICER 40.00 X 239636 0 28326 RUSSELL AYSCUE VP, CHIEF INFORMATION OFFICER 40.00 X 205682 0 42569 THOMAS KENNEDY DIRECTOR BUSINESS SERVICES 40.00 X 246746 0 52828 ROBIN WILKERSON ENTERPRISE PROJECT MANAGER 40.00 X 222363 0 44291 DEBORAH BYERS REGIONAL DIRECTOR 40.00 X 193815 0 18387 LINDA COX DIRECTOR FACILITIES 40.00 X 201303 0 6996 MICHELLE CLARK DIRECTOR INTERNAL AUDIT 40.00 X 183470 0 13477 OLAN JONES FORMER PRESIDENT/CEO 40.00 X 104931 0 0 4815173 0 503929 91 1 1 0 GOINS RASH CAIN INC 130 REGIONAL PARK DRIVE KINGSPORT TN 37660 CONTRACTING/BUILDING SERVICES 4538364 IDSCOM - INTELLIGENT DOCUMENT SOLUTIONS 747 E WHITCOMB AVENUE MADISON HEIGHTS MI 48071 STATEMENT PROCESSING/MAILING SERVICES 3084666 NCR CORPORATION 864 SPRINGS STREET NW ATLANTA GA 30308 ONLINE BANKING/BILL PAY SERVICES 2248175 FISERV SOLUTIONS INC PO BOX 934057 ATLANTA GA 311934057 SOFTWARE SOLUTIONS SERVICES 2201009 MICROSOFT CORPORATION ONE WAY MICROSOFT REDMOND WA 98052 SOFTWARE SOLUTIONS SERVICES 1423404 85 LOAN INTEREST INCOME 522100 229335017 229335017 FEES AND CHARGES 522100 55208699 54368498 840201 OTHER INCOME 522100 4797769 4797769 289341485 1645800 1645800 190145 0 190145 190145 190145 125755 957186 122898 902685 2857 54501 57358 57358 291234788 288501284 840201 1893303 2655888 4030494 47912881 5124902 8509151 4341002 363210 119236 487084 2968906 10021138 8886209 4656610 248155 396473 57098474 7465174 357395 DEPOSIT & LENDING SVCS 19406257 OVERDRAFT FEES EXPENSE 3250000 PROVISION FOR LOAN LOSS 2700000 190998639 41612740 44232301 924041750 1372143929 4991140317 5515171591 7987468 8918278 153363721 61542975 87150475 91820746 28999891 24490502 58664147 66826028 6139596788 7123603375 74210321 71519417 8767569 8547202 5326571774 6212311809 5409549664 6292378428 X 0 0 0 0 730047124 831224947 730047124 831224947 6139596788 7123603375 X 100236149 -7627 949301 X 0 1 X 1 0 11875 0 0 11875 11875 1 TENNESSEE CREDIT UNION LEAGUE PAC PO BOX 21550 CHATTANOOGA TN 37424 462728395 1000 0 CUNA NATIONAL ADVOCACY FUND 99 M STREET SE NO 300 WASHINGTON DC 20003 237065623 10875 0 PART I-A, LINE 1: EASTMAN CREDIT UNION CONTRIBUTES $250 PER QUARTER TO THE TENNESSEE CREDIT UNION LEAGUE PAC. EASTMAN CREDIT UNION CONTRIBUTED $10,875 TO THE CUNA NATIONAL ADVOCACY FUND. 0 1 X 22851782 22851782 87881391 29586952 58294439 2535987 2023401 512586 37789573 29932622 7856951 2304988 2304988 91820746 STATE CHARTERED CREDIT UNION DEPOSITS 6212311809 6212311809 X PART IV, LINE 2B: ECU MAINTAINS ESCROW ACCOUNTS ON THE LOANS IN THE MORTGAGE PORTFOLIO FOR PAYMENT OF PROPERTY TAXES AND HOMEOWNER'S INSURANCE. THE ACCOUNTS ARE TREATED AS OTHER DEPOSIT ACCOUNTS AND EARN INTEREST AT THE REGULAR SHARE ACCOUNT RATE AS LONG AS THE ESCROW BALANCE IS POSITIVE. AMOUNTS ARE DEPOSITED MONTHLY AND PAYMENTS ARE MADE AS NECESSARY DURING THE YEAR. ESCROWS ARE "TRUED" ONCE A YEAR TO PREVENT EXCESS OR CORRECT SHORT-FALLS. PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES. MANAGEMENT OF THE CREDIT UNION BELIEVES THERE WAS NO UNRELATED BUSINESS INCOME TAX (UBIT) FOR THE YEARS ENDED DECEMBER 31, 2021 OR 2020. HOWEVER, THE CREDIT UNION MAY BE SUBJECT TO UBIT, AS THERE IS UNCERTAINTY REGARDING WHETHER THE CREDIT UNION SHOULD PAY INCOME TAXES ON CERTAIN TYPES OF NET TAXABLE INCOME FROM ACTIVITIES AS FURTHER DISCUSSED IN NOTE 9 OF FINANCIAL STATEMENTS. IT IS THE CREDIT UNION'S POLICY TO RECORD ANY PENALTIES OR INTEREST ARISING FROM FEDERAL OR STATE TAXES AS A COMPONENT OF NONINTEREST EXPENSE. THE CREDIT UNION FILES EXEMPT ORGANIZATION AND UNRELATED BUSINESS INCOME TAX RETURNS WITH THE FEDERAL JURISDICTION. NOTE 9 - THE INTERNAL REVENUE SERVICE (IRS) AND CERTAIN STATE TAXING AUTHORITIES ARE CURRENTLY REVISITING WHAT, IF ANY, PRODUCTS AND SERVICES PROVIDED BY CREDIT UNIONS ARE SUBJECT TO UBIT. THERE IS CURRENTLY VERY LITTLE GUIDANCE IN THE IRC ON WHAT ACTIVITIES SHOULD BE SUBJECT TO UBIT. THE IRS HAS INDICATED THEY ARE STUDYING THE ISSUE AND MAY ISSUE ADDITIONAL GUIDANCE. AS A RESULT, AT THIS TIME THERE IS UNCERTAINTY REGARDING WHETHER THE CREDIT UNION SHOULD PAY INCOME TAX ON CERTAIN TYPES OF NET TAXABLE INCOME FROM ACTIVITIES THAT MAY BE CONSIDERED BY TAXING AUTHORITIES AS UNRELATED TO THE PURPOSE FOR WHICH THE CREDIT UNION WAS GRANTED NONTAXABLE STATUS. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR CERTAIN POTENTIAL TAXABLE ACTIVITIES. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES DEEMED TO BE UNRELATED TO THE CREDIT UNION'S NONTAXABLE STATUS IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S CONSOLIDATED FINANCIAL POSITION OR RESULTS OF OPERATIONS. 1 BALLAD HEALTH FOUNDATION 1019 W OAKLAND AVENUE SUITE 2 JOHNSON CITY TN 37604 581594191 501(C)(3) 1271965 0 BLOODMOBILE SPONSORSHIP, PROJECT SPONSORSHIP, AND EVENT SPONSORSHIP BARTER THEATRE PO BOX 867 ABINGDON VA 24212 546000120 501(C)(3) 30000 0 ANNUAL SPONSORSHIP BAYS MOUNTAIN PARK AND PLANETARIUM 853 BAYS MOUNTAIN PARK RD KINGSPORT TN 37660 621042329 501(C)(3) 15000 0 PROJECT SPONSORSHIP BIRTHPLACE OF COUNTRY MUSIC PO BOX 1927 BRISTOL VA 24203 621580405 501(C)(3) 25000 0 EVENT SPONSORSHIP BOONES CREEK HISTORICAL TRUST 632 HALES CHAPEL ROAD GRAY TN 37615 800288021 501(C)(3) 35000 0 PROJECT SPONSORSHIP BOYS & GIRLS CLUB OF THE BIG PINES PO BOX 2041 MARSHALL TX 75671 752318241 501(C)(3) 10000 0 GENERAL CONTRIBUTION CITY OF KINGSPORT 415 BROAD STREET KINGSPORT TN 37660 626000323 GOVERNMENT 30000 0 PROJECT SPONSORSHIP COALITION FOR KIDS INC PO BOX 3156 JOHNSON CITY TN 37602 621765487 501(C)(3) 25000 0 GENERAL CONTRIBUTION COVENANT COUNSELING CENTER PO BOX 1323 KINGSPORT TN 37662 471983943 501(C)(3) 7500 0 "PATH TO HOPE: BREAKING DOWN BARRIERS" PROGRAM ETSU FOUNDATION PO BOX 70721 JOHNSON CITY TN 37614 237092731 501(C)(3) 362500 0 ARTS INITIATIVE FRONTIER HEALTH FOUNDATION PO BOX 9054 GRAY TN 37615 461432508 501(C)(3) 8500 0 GENERAL CONTRIBUTION AND EVENT SPONSORSHIP GIRLS INC OF KINGSPORT 1100 GIRLS PLACE/PO BOX 891 KINGSPORT TN 37662 626064042 501(C)(3) 8088 0 CAPITAL CAMPAIGN, GENERAL CONTRIBUTION, AND EVENT SPONSORSHIP GREATER KINGSPORT FAMILY YMCA 1840 MEADOWVIEW PARKWAY KINGSPORT TN 37660 581564232 501(C)(3) 15000 0 CAPITAL CAMPAIGN HOPE TRI-CITIES PO BOX 7632 KINGSPORT TN 37664 461500067 501(C)(3) 6000 0 ASSIST WITH ORGANIZATION'S RENT (1 YEAR) HOLSTON ANNUAL CONFERENCE OF THE UNITED METHODIST CHURCH INC - CAMP BAYS PO BOX 3706 KINGSPORT TN 37664 626045878 501(C)(3) 20539 0 KITCHEN EQUIPMENT JOHNSON CITY CHAMBER OF COMMERCE 603 E MARKET STREET JOHNSON CITY TN 37601 620252764 501(C)(6) 151000 0 EVENT SPONSORSHIP AND GENERAL ASSISTANCE KEYSTONE DENTAL 603 BERT STREET BOX 12 JOHNSON CITY TN 37601 621762300 501(C)(3) 9000 0 GENERAL CONTRIBUTION KINGSPORT CHAMBER OF COMMERCE 400 CLINCHFIELD STREET SUITE 100 KINGSPORT TN 37660 620446834 501(C)(6) 16975 0 EVENT SPONSORSHIP AND GENERAL ASSISTANCE KINGSPORT CHAMBER OF COMMERCE FOUNDATION 400 CLINCHFIELD STREET SUITE 100 KINGSPORT TN 37660 581453565 501(C)(3) 26000 0 EVENT SPONSORSHIP AND GENERAL ASSISTANCE K-PLAY SPORTS COUNCIL INC 400 CLINCHFIELD STREET SUITE 100 KINGSPORT TN 37660 412045125 501(C)(3) 100000 0 PROJECT SPONSORSHIP LONGVIEW ARBORETUM & NATURE CENTER 706 W COTTON STREET LONGVIEW TX 75604 461383538 501(C)(3) 29500 0 EVENT SPONSORSHIP AND PROJECT SPONSORSHIP LONGVIEW CHAMBER OF COMMERCE 410 N CENTER STREET LONGVIEW TX 75601 750400490 501(C)(6) 25000 0 GENERAL ASSISTANCE NEWGATE MISSION 207 S MOBBERLY AVENUE LONGVIEW TX 75602 752663844 501(C)(3) 10000 0 PROJECT SPONSORSHIP PETWORKS ANIMAL SERVICES 3101 E STONE DRIVE KINGSPORT TN 37660 371624021 501(C)(3) 50000 0 CAPITAL CAMPAIGN PROVIDENCE MEDICAL CLINIC 441 CLAY STREET KINGSPORT TN 37660 264547646 501(C)(3) 20000 0 GENERAL CONTRIBUTION SALVATION ARMY OF KINGSPORT 505 DALE STREET KINGSPORT TN 37660 580660607 501(C)(3) 6708 0 RED KETTLE MATCH SYMPHONY OF THE MOUNTAINS 1200 E CENTER STREET/PO BOX 13 KINGSPORT TN 37660 620534228 501(C)(3) 10000 0 SEASON SPONSOR UNITED WAY OF BRISTOL TNVA PO BOX 696 BRISTOL TN 37621 620476656 501(C)(3) 7000 0 GENERAL CONTRIBUTION UNITED WAY OF EAST TN HIGHLANDS 1907 N ROAN STREET SUITE 409 JOHNSON CITY TN 37601 626001105 501(C)(3) 17500 0 GENERAL CONTRIBUTION UNITED WAY OF GREATER KINGSPORT 301 LOUIS STREET SUITE 201 KINGSPORT TN 37660 620481461 501(C)(3) 20000 0 GENERAL CONTRIBUTION UNITED WAY OF HAWKINS COUNTY 405 S ARMSTRONG RD SUITE B ROGERSVILLE TN 37857 620731420 501(C)(3) 7000 0 GENERAL CONTRIBUTION UNITED WAY OF SOUTHWEST VIRGINIA PO BOX 644 ABINGDON VA 24212 540718860 501(C)(3) 7000 0 GENERAL CONTRIBUTION YMCA OF BRISTOL 400 MARTIN LUTHER KING JR BLVD BRISTOL TN 37620 620521204 501(C)(3) 8333 0 CAPITAL CAMPAIGN YWCA NORTHEAST TNSW VA 106 STATE STREET BRISTOL TN 37620 620488044 501(C)(3) 80000 0 GENERAL ASSISTANCE AND CAPITAL CAMPAIGN 31 3 PART I, LINE 2: GRANTS WILL BE RESEARCHED BY THE ECU STAFF, APPROVED BY THE CEO/PRESIDENT AND REPORTED TO THE BOARD OF DIRECTORS ANNUALLY. ECU MAINTAINS RECORDS SUBSTANTIATING AMOUNTS PAID TO QUALIFYING ORGANIZATIONS AND CONFIRMS THE EXEMPT STATUS OF THE GRANTEE. ECU DOES NOT MONITOR THE FUNDS USE, AS USE OF FUNDS IS AT THE DISCRETION OF THE GRANTEE. X 1 1 X X X X 0 0 0 KELLY PRICE PRESIDENT, CEO 601521 0 319125 0 12968 0 -8100 0 25192 0 950706 0 0 0 DARRELL DINSMORE SVP, CHIEF ADMINISTRATIVE OFFICER 314667 0 86656 0 3612 0 11900 0 18772 0 435607 0 0 0 TONJA FISH VP, CHIEF FINANCIAL OFFICER 315478 0 84774 0 1932 0 12900 0 10144 0 425228 0 0 0 DEBRA BRIDWELL SVP, CHIEF MARKETING / FACILITIES OF 282901 0 77712 0 10669 0 14900 0 10648 0 396830 0 0 0 MATT WIMBERLEY VP, CHIEF LEGAL OFFICER/GEN. COUNSEL 231127 0 65291 0 1402 0 44155 0 24582 0 366557 0 0 0 JEREMIAH LOUNDS VP, CHIEF OPERATING OFFICER 220920 0 61133 0 840 0 27278 0 24582 0 334753 0 0 0 MARK MILLWOOD VP, CHIEF HUMAN RESOURCE OFFICER 206414 0 58366 0 3612 0 26100 0 23532 0 318024 0 0 0 TAMMY LATTURE THROUGH 0521 SVP, MEMBER SERVICE/LENDING 253193 0 0 0 2914 0 11220 0 19250 0 286577 0 0 0 DOLLY LINKOUS VP, CHIEF LENDING OFFICER 204784 0 31290 0 3562 0 8249 0 20077 0 267962 0 0 0 RUSSELL AYSCUE VP, CHIEF INFORMATION OFFICER 174506 0 26005 0 5171 0 20037 0 22532 0 248251 0 0 0 THOMAS KENNEDY DIRECTOR BUSINESS SERVICES 208778 0 34356 0 3612 0 27246 0 25582 0 299574 0 0 0 ROBIN WILKERSON ENTERPRISE PROJECT MANAGER 179478 0 32228 0 10657 0 24210 0 20081 0 266654 0 0 0 DEBORAH BYERS REGIONAL DIRECTOR 160030 0 28819 0 4966 0 -1119 0 19506 0 212202 0 0 0 LINDA COX DIRECTOR FACILITIES 167158 0 29124 0 5021 0 -994 0 7990 0 208299 0 0 0 MICHELLE CLARK DIRECTOR INTERNAL AUDIT 153367 0 26686 0 3417 0 -954 0 14431 0 196947 0 0 0 OLAN JONES FORMER PRESIDENT/CEO 104931 0 0 0 0 0 0 0 0 0 104931 0 0 0 PART I, LINE 1A THE CREDIT UNION'S EXPENSE POLICY INCLUDES AN ACCOUNTABLE PLAN WHEREBY BUSINESS EXPENSES ARE PAID BY THE CREDIT UNION AND WHEREBY ANY PERMISSIBLE TRAVEL FOR COMPANIONS PERMITTED BY STATE AND FEDERAL CREDIT UNION REGULATIONS ARE INCLUDED AS INCOME TO THE OFFICIAL. PART II, COLUMN (C): SCHEDULE J PART II, COLUMN (C) SHOWS NEGATIVE AMOUNTS DUE TO ACTUARIAL DECREASES IN VALUES AS REQUIRED TO BE REPORTED PER IRS INSTRUCTIONS FOR FORM 990, PART VII. FORM 990, PART VI, SECTION A, LINE 6 EASTMAN CREDIT UNION IS A MEMBER OWNED NON-PROFIT TAX EXEMPT CORPORATION IN WHICH EACH MEMBER OWNS AN EQUAL SHARE. FORM 990, PART VI, SECTION A, LINE 7A AT THE ANNUAL MEETING OF THE MEMBERS, EASTMAN CREDIT UNION'S MEMBERS ELECT INDIVIDUALS FROM THE CREDIT UNION'S MEMBERSHIP TO SERVE ON THE BOARD OF DIRECTORS FOR THREE YEAR TERMS. IN THE EVENT THERE IS A VACANCY ON THE BOARD, THE DIRECTORS MAY APPOINT AN INTERIM MEMBER TO SERVE OUT THE TERM OF THE VACANT BOARD POSITION. FORM 990, PART VI, SECTION A, LINE 7B EASTMAN CREDIT UNION'S MEMBERS HAVE THE RIGHT TO VOTE, ON A PER CAPITA BASIS, ON DISSOLUTION OF THE CREDIT UNION, MERGER WITH ANOTHER CREDIT UNION, EXPULSION OF A MEMBER, CONVERSION FROM A STATE TO A FEDERALLY CHARTERED CREDIT UNION, CONVERSION TO ANOTHER TYPE OF FINANCIAL INSTITUTION, OR TO OVERRULE A DECISION OF THE CREDIT UNION'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B EASTMAN CREDIT UNION'S FORM 990 IS PREPARED BY AN OUTSIDE CPA FIRM AND THEN REVIEWED BY ECU'S CEO, CFO, VP, CHIEF LEGAL OFFICER AND GENERAL COUNSEL, VP, CHIEF HUMAN RESOURCE OFFICER, AND CONTROLLER. A COMPLETE COPY OF THIS FORM 990 IS PROVIDED TO ALL MEMBERS OF THE ECU BOARD OF DIRECTORS BEFORE FILING THE FORM. FORM 990, PART VI, SECTION B, LINE 12C PRIOR TO EMPLOYMENT ALL EMPLOYEES AND OFFICERS OF EASTMAN CREDIT UNION ARE REQUIRED TO DISCLOSE ALL POTENTIAL CONFLICTS OF INTEREST AND MUST AGREE TO UPDATE THE DISCLOSURE IN THE EVENT ANY CONFLICTS ARISE SUBSEQUENT TO EMPLOYMENT. PRIOR TO SERVING ON THE BOARD OF DIRECTORS, ALL PROSPECTIVE BOARD MEMBERS ARE REQUIRED TO DISCLOSE ALL POTENTIAL CONFLICTS OF INTEREST. ALL EMPLOYEES AND MEMBERS OF THE BOARD OF DIRECTORS ARE ALSO REQUIRED TO COMPLETE AN UPDATED DISCLOSURE AT LEAST ANNUALLY. IT IS THE RESPONSIBILITY OF THE PRESIDENT OR CHAIR OF THE BOARD OF DIRECTORS TO DETERMINE THE RESOLUTION OF ALL ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. MEMBERS OF THE BOARD OF DIRECTORS DO NOT PARTICIPATE IN THE DELIBERATIONS OR VOTING ON MATTERS WHERE AN ACTUAL OR APPARENT CONFLICT OF INTEREST EXISTS. FORM 990, PART VI, SECTION B, LINE 15 EASTMAN CREDIT UNION ANNUALLY PARTICIPATES IN EXECUTIVE COMPENSATION SURVEYS OF REPUTABLE COMPENSATION CONSULTANTS BY PROVIDING CURRENT BASE AND TOTAL COMPENSATION INFORMATION OF THE ECU OFFICERS. THE CONSULTING GROUPS FOCUS ON COMPARATIVE COMPENSATION INFORMATION WITHIN THE CREDIT UNION INDUSTRY. AS A RESULT OF PARTICIPATION, ECU RECEIVES DATA COMPILATION REPORTS AND ANALYSES FROM THE STUDIES CONDUCTED BY THESE COMPENSATION EXPERTS. RANKING AND COMPARATIVE INFORMATION FOR EACH RELEVANT POSITION IS PROVIDED IN BOTH STUDIES. ECU STUDIES AND UTILIZES PEER GROUP INFORMATION RELATIVE TO ECU'S ASSET SIZE AS BENCHMARK DATA. EASTMAN CREDIT UNION WORKS WITH CONSULTANTS FROM EACH RESPECTIVE CONSULTING FIRM TO OBTAIN SPECIAL DATA CUTS, CLARIFYING INFORMATION, AND ADVICE REGARDING MATCHING OF ECU POSITIONS TO BENCHMARK JOBS, INDUSTRY AVERAGE INCREASE IN EXECUTIVE COMPENSATION, AND OTHER INFORMATION RELATED TO EXECUTIVE BASE AND TOTAL COMPENSATION FACTORS. THE VICE PRESIDENT OF HUMAN RESOURCES PROVIDES A RECAP OF COMPENSATION STUDY INFORMATION IN A PRESENTATION FORMAT DURING A MEETING OF THE COMPENSATION COMMITTEE (SUBCOMMITTEE OF THE ECU BOARD OF DIRECTORS). THE COMPENSATION COMMITTEE REVIEWS THE DATA AND DISCUSSES AND PRESENTS QUESTIONS RELATED TO THE INFORMATION PROVIDED. WHEN NECESSARY, THE VP, CHIEF HUMAN RESOURCE OFFICER WILL FOLLOW UP WITH COMPENSATION CONSULTANTS FOR ADDITIONAL INFORMATION TO BE PRESENTED FOR DISCUSSION AND CONSIDERATION. THE COMPENSATION COMMITTEE APPROVES AN AVERAGE SALARY INCREASE FOR THE CEO'S DIRECT REPORTS AND AUTHORIZES THE CEO TO AWARD INDIVIDUAL SALARY INCREASES ACCORDINGLY. FINAL AWARDS ARE DOCUMENTED AND SIGNED BY BOTH THE CEO AND THE CHAIR OF THE COMPENSATION COMMITTEE. THIS DOCUMENT IS SUBMITTED TO PAYROLL VIA THE VP, CHIEF HUMAN RESOURCE OFFICER. THE COMPENSATION COMMITTEE MEETS IN EXECUTIVE SESSION TO FURTHER CONSIDER COMPENSATION DATA FOR THE CEO. FINAL AWARD IS DOCUMENTED AND SIGNED AS APPROVED BY THE CHAIR OF THE COMPENSATION COMMITTEE. THIS DOCUMENT IS SUBMITTED TO PAYROLL VIA THE VP, CHIEF HUMAN RESOURCE OFFICER. ORIGINAL DOCUMENTS ARE MAINTAINED ON FILE IN THE HUMAN RESOURCES DEPARTMENT. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND OTHER RECORDS AND POLICIES OF ECU ARE NOT GENERALLY MADE AVAILABLE TO THE PUBLIC. ECU MEMBERS ARE ENTITLED TO INSPECT CERTAIN RECORDS OF THE CREDIT UNION AFTER COMPLYING WITH THE REQUIREMENTS OF STATE LAW. FINANCIAL INFORMATION IS POSTED ON ECU'S WEBSITE AND PUBLISHED IN THE ANNUAL REPORT. FORM 990, PART XI, LINE 9: NET DEFINED BENEFIT PENSION PLAN COST ADJUSTMENT 1,035,514. NET POST-RETIREMENT BENEFIT PLAN COST ADJUSTMENT -86,213. ECU TITLE SERVICES LLC 201 S WILCOX DR KINGSPORT TN 37660 464133177 TITLE AND ESCROW SERVICES TN 410859 3893171 EASTMAN CREDIT UNION