2022-11-14T09:29:42-06:00 2021-12-31 420714325 RSM US LLP 4650 EAST 53RD STREET DAVENPORT IA 528073479 990 2021-01-01 751100957 MTCU MTCU 4326887300 4717 N MIDKIFF MIDLAND TX 79705 BROOKE L MARTIN CFO 4326887300 2022-11-12 1 BROOKE MARTIN XXX-XX-XXXX JENIFER L CHASE P01306883 5638884000 2022-11-12 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z JANA HANEY 4717 N MIDKIFF MIDLAND TX 79705 7400793 0 X WWW.MTCU.ORG X 1955 TX MTCU IS A COOPERATIVE THRIFT INSTITUTION AND IS A MEMBER OF THE NATIONAL CREDIT UNION ASSOCIATION INSURANCE FUND. THE CREDIT UNION IS REGULATED BY THE STATE OF TEXAS CREDIT UNION DEPARTMENT AS WELL AS THE NATIONAL CREDIT UNION ADMINISTRATION. MTCU OFFERS PRODUCTS AND SERVICES IN FOUR PRIMARY AREAS: SHARE & CHECKING ACCOUNTS, CONSUMER LOANS, AND REAL ESTATE LOANS. MTCU IS DEDICATED TO PROVIDING PERSONAL, COURTEOUS, AND PROFESSIONAL SERVICE IN AN EFFICIENT AND CARING MANNER AND TO MEETING THE DIVERSE NEEDS OF THE MEMBER-OWNERS THROUGH SOUND MANAGEMENT PRACTICES. 7 7 48 7 26341 0 0 0 7016717 6782499 724352 618294 0 0 7741069 7400793 0 0 619839 507561 2850243 2781668 0 0 0 3490150 3486308 6960232 6775537 780837 625256 135379260 143998178 123667633 131617181 11711627 12380997 X MTCU IS A COOPERATIVE THRIFT INSTITUTION AND IS A MEMBER OF THE NATIONAL CREDIT UNION ASSOCIATION INSURANCE FUND. THE CREDIT UNION IS REGULATED BY THE STATE OF TEXAS CREDIT UNION DEPARTMENT AS WELL AS THE NATIONAL CREDIT UNION ADMINISTRATION. MTCU OFFERS PRODUCTS AND SERVICES IN FOUR PRIMARY AREAS: SHARE & CHECKING ACCOUNTS, CONSUMER LOANS, AND REAL ESTATE LOANS. MTCU IS DEDICATED TO PROVIDING PERSONAL, COURTEOUS, AND PROFESSIONAL SERVICE IN AN EFFICIENT AND CARING MANNER AND TO MEETING THE DIVERSE NEEDS OF THE MEMBER-OWNERS THROUGH SOUND MANAGEMENT PRACTICES. 0 0 SHARE ACCOUNTS:MTCU SHARE ACCOUNTS OFFER ADVANTAGES TO MEMBERS OF ALL AGES. MTCU HAD 7,693 MEMBER OWNED ACCOUNTS ON DECEMBER 31, 2021. MEMBERS SAVINGS ACCOUNTS PAY DIVIDENDS MONTHLY AND OFFER ACCESS THROUGH TWO BRANCHES, HOME BANKING VIA THE INTERNET OR TELEPHONE AND ATMS WORLD WIDE. SPECIAL SAVINGS ACCOUNTS DESIGNED FOR CHILDREN AND TEENAGERS ENCOURAGE THE DEVELOPMENT OF CONSISTENT SAVINGS HABITS. CHECKING ACCOUNTS:MTCU PROVIDES CHECKING ACCOUNTS FOR MEMBERS. MTCU EXTENDS THE REACH OF THESE ACCOUNTS TO ALL MEMBERS WITH FREE DEBIT CARDS, FREE INTERNET ACCESS, FREE BILL PAY, AND FREE TELEPHONE TELLER. 68% OF THE MEMBERSHIP HOLDS A CHECKING ACCOUNT. CONSUMER LOANS:MTCU HAS PROVIDED VEHICLE LOANS SINCE ITS FIRST YEAR OF BUSINESS. THE CONSUMER LOAN PRODUCT LINE NOW INCLUDES EFFICIENT UNDERWRITING AND FLEXIBLE OFFERINGS FOR RECREATIONAL VEHICLES, BOATS AND MOTORCYCLES. CONSUMER LIFE AND DISABILITY INSURANCE IS AVAILABLE ON ANY OF THESE LOAN TYPES. MTCU OFFERS PERSONAL LOANS, HOME EQUITY LOANS, MORTGAGE LOANS, AND CREDIT CARDS. AS OF DECEMBER 31, 2021 MTCU HAD 4,796 CONSUMER LOANS WITH A BALANCE OF $68,311,084. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1945 0 1 48 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 0 0 1 0 0 0 1 1 0 0 X BROOKE MARTIN 4326887300 4717 N MIDKIFF MIDLAND TX 79705 BETTY MERRITT CHAIR 1.00 X X 0 0 0 OFELIA PALLANEZ VICE CHAIR 1.00 X X 0 0 0 LINDA HANCOCK SECRETARY 1.00 X X 0 0 0 JAYME TEDDER TREASURER 1.00 X X 0 0 0 NANCY ASHLEY BOARD MEMBER 1.00 X 0 0 0 VIRGINIA CONNER BOARD MEMBER 1.00 X 0 0 0 ARIEL ELLIOTT BOARD MEMBER 1.00 X 0 0 0 JANA HANEY PRESIDENT 40.00 X 271845 0 54906 BROOKE MARTIN CFO 40.00 X 152138 0 16686 JUSTIN MARLER COO 40.00 X 118500 0 33460 SUSAN MASTEN EXECUTIVE VICE PRESIDENT 40.00 X 115948 0 30479 CESAR TARIN VICE PRESIDENT OF LENDING 40.00 X 117044 0 32037 775475 0 167568 5 0 1 0 EXTRACO CONSULTING 1704 N VALLEY MILLS DR WACO TX 76710 CONSULTING AND TRAINING 122825 FISERV 255 FISERV DRIVE BROOKFIELD WI 53045 CORE SYSTEM MANAGEMENT 111055 0 LOAN INCOME 522100 4084948 4084948 FEE & CHARGES INCOME 522100 1912201 1892460 19741 OTHER INCOME 522100 704459 697859 6600 MASTERCARD INCOME 522100 80891 80891 6782499 599892 599892 18402 0 18402 18402 18402 7400793 6756158 26341 618294 507561 647535 1524653 269538 209892 130050 1830 47992 16907 222642 178999 1767442 235693 8970 234832 80106 LOAN SERVICING LOSS 538998 PROVISION FOR LOAN LOSS 137897 14000 6775537 3465175 2490045 398984 195539 73043994 68137322 199705 150049 7979019 2566379 4601729 5412640 50807504 63714667 2862169 3897916 135379260 143998178 1026226 766040 32808 205202 122608599 130645939 123667633 131617181 X 0 0 0 0 11711627 12380997 11711627 12380997 135379260 143998178 625256 44114 0 X 0 0 0 0 1 X 745492 745492 4674614 1269511 3405103 2434542 1204882 1229660 124371 91986 32385 5412640 CERTIFICATE OF DEPOSITS 15258000 C NCUSIF 1231651 C CATALYST CORPORATE CAPITAL 204044 C INVESTMENT IN CATALYST CORPORATE CU 2300258 C EBA HELD AT FEDERAL RESERVE 22500000 C MORTGAGE BACKED SECURITIES 22220714 F 63714667 MEMBERS' SHARES 130645939 130645939 PART IV, LINE 2B: THE CREDIT UNION HOLDS FUNDS TO PAY TAXES ON BEHALF OF MEMBERS. X X X 0 1 0 JANA HANEY PRESIDENT 197291 0 73366 0 1188 0 42420 0 12486 0 326751 0 0 0 BROOKE MARTIN CFO 115530 0 36428 0 180 0 3426 0 13260 0 168824 0 0 0 JUSTIN MARLER COO 99109 0 19211 0 180 0 18491 0 14969 0 151960 0 0 0 PART I, LINE 4B BROOKE MARTIN PARTICIPATED IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN IN 2021 SPONSORED BY MTCU. IN 2021, THE ORGANIZATION DID NOT MAKE CONTRIBUTIONS TO THE PLAN ON BEHALF OF THE INDIVIDUAL PARTICIPANT, NOR WHERE ANY DISTRIBUTIONS MADE FROM THE PLAN. FORM 990, PART VI, SECTION A, LINE 6 MTCU HAS MEMBERS AS SPECIFIED IN ITS BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF MTCU HAVE THE RIGHT TO ELECT DIRECTORS OF THE BOARD OF DIRECTORS AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM USING THE INFORMATION PROVIDED BY MTCU. UPON COMPLETION OF THE FORM AND FILING WITH THE INTERNAL REVENUE SERVICE, A COPY WILL BE PRESENTED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12 EMPLOYEES ARE REQUIRED TO REPORT TO MANAGEMENT ALL VIOLATIONS OR SUSPECTED VIOLATIONS OF THE CODE OF ETHICS. ALL REPORTS ARE HANDLED PROFESSIONALLY AND AS CONFIDENTIALLY AS POSSIBLE. EMPLOYEES WHO BREACH OR DISREGARD THE CONFLICT OF INTEREST/ETHICS POLICY WILL BE SUBJECT TO CORRECTIVE ACTION INCLUDING TERMINATION. FORM 990, PART VI, SECTION B, LINE 15A THE CREDIT UNION USES HR PERFORMANCE SOLUTIONS COMPENSATION SOFTWARE AND CORNERSTONE CREDIT UNION LEAGUE SALARY SURVEY RESULTS TO DETERMINE APPROPRIATE COMPENSATION FOR ITS OFFICERS AND KEY EMPLOYEES. THE BOARD OF DIRECTORS SETS THE PRESIDENT'S SALARY AND THE PRESIDENT SETS THE SALARIES FOR THE REST OF THE EMPLOYEES. THE BOARD OF DIRECTORS DOCUMENTS THE PROCESS USED FOR SETTING THE PRESIDENT COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 CURRENT MONTH FINANCIAL STATEMENTS ARE POSTED FOR MEMBERS TO VIEW IN THE LOBBIES OF THE BRANCHES. THE CREDIT UNION'S POLICIES ARE NOT AVAILABLE FOR MEMBERS TO VIEW. GOVERNING DOCUMENTS ARE PROVIDED UPON REQUEST.