2022-10-14T10:27:58-05:00 2021-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2021-01-01 520284053 MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE INC MUNI 4107528313 ONE SOUTH STREET BALTIMORE MD 21202 ADRIAN JOHNSON SVP/CFO 4107528313 2022-10-13 ADRIAN JOHNSON 999009999 JOHN J MURNANE JR P03021572 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z MECU OF BALTIMORE INC JOHN HAMILTON ONE SOUTH STREET BALTIMORE MD 21202 93523974 0 X WWW.MECU.COM X 1936 MD MECU IS A CREDIT UNION WHICH PROVIDES A FULL ARRAY OF FINANCIAL SERVICES TO ITS MEMBER OWNERS. 10 7 277 0 444013 0 0 0 54777937 54625074 6203784 5586009 0 0 60981721 60211083 114530 173100 0 0 25605951 25465765 0 0 0 39681362 28938307 65401843 54577172 -4420122 5633911 1316780285 1362108647 1180881232 1224282057 135899053 137826590 OUR MISSION IS TO EMPOWER OUR MEMBERS TO IMPROVE THEIR FINANICAL WELL-BEING AND LIVE BETTER. 0 0 MECU PROVIDES CONSUMER AND BUSINESS LOANS TO MEMBERS AT COMPETITIVE RATES. THESE LOANS INCLUDE: MORTGAGE, HOME EQUITY, VEHICLE, CREDIT CARD, AND UNSECURED LOANS. MECU PROVIDES DEPOSIT PRODUCTS AND SERVICES TO CONSUMER AND BUSINESS MEMBERS. THESE DEPOSIT PRODUCTS INCLUDE SAVINGS, CHECKING, MONEY MARKET, CERTIFICATES OF DEPOSIT, AND INDIVIDUAL RETIREMENT ACCOUNTS. AS OF DECEMBER 31, 2021, MECU HAD 193,976 DEPOSIT ACCOUNTS OUTSTANDING. MECU'S DEPOSIT RATES CONTINUE TO BE SOME OF THE MOST COMPETITIVE RATES OFFERED BY FEDERALLY INSURED FINANCIAL INSTITUTIONS. MECU STRIVES TO OFFER PRODUCTS AND SERVICES DESIGNED TO IMPROVE THE ECONOMIC AND SOCIAL WELL BEING OF ALL MEMBERS FROM ALL SOCIO-ECONOMIC BACKGROUNDS. MECU IS COMMITTED TO MEMBER FINANCIAL EDUCATION. SOME OF THE PROGRAMS THAT MECU PROVIDES INCLUDE DISCOUNTED MORTGAGE RATES THROUGH FIRST-TIME HOMEBUYER'S PROGRAMS AND BUY IN BALTIMORE LOANS, HOME BUYER'S WORKSHOPS, CREDIT REPAIR WORKSHPS, BASICS OF MONEY MANAGEMENT, NEW EMPLOYEE AND PRE-RETIREMENT WORKSHOPS, AND FREE CREDIT COUNSELING SERVICES. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 17697 0 1 277 1 1 1 0 0 0 0 0 0 0 X 10 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X JEAN TYLER 4107528313 ONE SOUTH STREET BALTIMORE MD 21202 HERMAN WILLIAMS JR BOARD MEMBER 2.00 X 5033 0 0 ROMAN CLARK SR CHAIRPERSON 2.00 X X 19700 0 0 BENJAMIN MELI JR BOARD MEMBER 2.00 X 17100 0 0 ERNEST GLINKA BOARD MEMBER 2.00 X 8400 0 0 G LOUISE GREEN TREASURER 1.00 X X 21800 0 0 GARY MCLHINNEY VICE CHAIRPERSON 1.50 X X 19400 0 0 DEBORAH MOORE-CARTER SECRETARY 1.50 X 20967 0 0 PEGGY PEACOCK BOARD MEMBER 1.50 X 8400 0 0 LORRETTA JOHNSON BOARD MEMBER 1.00 X 7500 0 0 KARA KING-BASS BOARD MEMBER 1.00 X 11100 0 0 ADRIAN JOHNSON SVP AND CFO 45.00 X 252058 0 37266 JOHN HAMILTON PRESIDENT AND CEO 50.00 X 614653 0 138421 MICHELLE WILLIAMS VP HUMAN RESOURCES 45.00 X 179777 0 30428 KATHY SHELTON SVP AND COO 45.00 X 236267 0 50061 MARY TAYLOR VP CHIEF COMMERCIAL LENDIN 45.00 X 216332 0 21042 JEAN TYLER VP ACCOUNTING/CONTROLLER 50.00 X 172552 0 5594 CHRISTOPHER LUMLEY VP OF IT SERVICES 45.00 X 213016 0 55918 TIMOTHY ROZALSKI VP OF MARKETING 45.00 X 198071 0 7173 DENISE JONES-FRASIER CHIEF OF STAFF SVP 45.00 X 217250 0 32919 NINA SPENCER VP RETAIL DELIVERY 45.00 X 165945 0 23867 2605321 0 402689 39 0 1 0 PSCU 560 CARRILLON PKWY ST PETERSBURG FL 33716 CARD PROCESSOR 3170363 NCR CORPORATION 864 SPRING ST NW ATLANTA GA 30308 REMOTE ATM SUPPORT/MONITORING 2413953 ONE SOUTH STREET LLC 1 SOUTH STREET SUITE 820 BALTIMORE MD 212023201 LEASE FOR 1 SOUTH STREET 1566104 FIS PO BOX 4535 CAROL STREAM IL 601974535 DATA PROCESSOR/BILL PAYER 1020795 CORNERSTONE ADVISORS INC 7272 E INDIAN SCHOOL RD STE 400 SCOTTSDALE AZ 85251 CONSULTING FIRM 768765 42 INTEREST ON LOANS TO MEMBERS 522100 32871257 32871257 SERVICE CHARGES AND OTHER FEES 522100 17593698 17593698 OTHER NONINTEREST INCOME 522100 3716106 3716106 FINANCE AND INSURANCE 520000 444013 444013 54625074 4897980 4897980 33856524 144396 33172793 140098 683731 4298 688029 688029 60211083 59767070 444013 0 X 173100 1915705 17440523 627002 4023806 1458729 239141 444780 1184770 522350 1885593 1014552 2372733 311300 4759098 2818617 268898 ATM/DEBIT CARD EXPENSE 5142068 LOAN SERVICING 1883832 MAINTENANCE 1775995 MISCELLANEOUS 1142106 3172474 54577172 15895783 13515971 81730609 75980995 28572215 19591776 5912694 755236922 714190033 6202851 8246758 24353987 15685242 10718236 8668745 359312004 461239374 1981000 248000 39647 57091018 54514301 1316780285 1362108647 15462902 16000910 136809 146454 8857143 5428571 1156424378 1202706122 1180881232 1224282057 X 0 0 0 0 135899053 137826590 135899053 137826590 1316780285 1362108647 X 5633911 -5273515 1567141 X X 0 1 X 1 0 0 1 X 311898 311898 2677571 1094881 1582690 6421635 3010256 3411379 14942883 11580105 3362778 8668745 MEMBER SHARES AND SAVINGS 1202706122 1202706122 X 60211083 0 60211083 0 60211083 54577172 0 54577172 0 54577172 PART IV, LINE 2B: THE CREDIT UNION HOLDS ESCROWED FUNDS FOR THE PAYMENT OF PROPERTY TAXES AND HOMEOWNERS' INSURANCE. THE CREDIT UNION THEN REMITS THESE FUNDS TO THE APPLICABLE THIRD PARTIES ON BEHALF OF THE BORROWERS AS A SERVICE TO OUR MEMBERS WHO HAVE MORTGAGES WITH THE CREDIT UNION OR HAVE MORTGAGES SERVICED BY THE CREDIT UNION. PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. 1 AACUC CORP CONTRIBUTION PO BOX 392136 SNELLVILLE GA 30039 571091138 501(C)(3) 12955 0 CHARITABLE CONTRIBUTION CU FOUNDATION ANNUAL SUPPORT PO BOX 190 GLENELG MD 21737 521749045 501(C)(3) 6591 0 CHARITABLE CONTRIBUTION ARTS EVERY DAY 20192020 120 W NORTH AVE SUITE 303 BALTIMORE MD 21201 900091850 501(C)(3) 50000 0 CHARITABLE CONTRIBUTION COLLEGE BOUND SCHOLARS 300 WATER STREET SUITE 300 BALTIMORE MD 21202 521598921 501(C)(3) 5318 0 CHARITABLE CONTRIBUTION CYSTIC FIBROSIS FOUNDATION 1026 YORK ROAD SUITE A COCKEYSVILLE MD 21030 131930701 501(C)(3) 11636 0 CHARITABLE CONTRIBUTION MECU FOUNDATION ONE SOUTH STREET BALTIMORE MD 21202 261113703 501(C)(3) 50000 0 CHARITABLE CONTRIBUTION 6 0 PART I, LINE 2: MECU HAS A COMMITTEE THAT MEETS AND DETERMINES WHAT CHARITABLE CONTRIBUTIONS WILL BE MADE. THE COMMITTEE SELECTS 501(C)(3), PUBLIC CHARITIES, THAT BENEFIT THE CREDIT UNION MOVEMENT AND THE BALTIMORE COMMUNITY. 1 X X X X X 1 1 0 JOHN HAMILTON PRESIDENT AND CEO 528922 0 75000 0 10731 0 129689 0 8732 0 753074 0 0 0 ADRIAN JOHNSON SVP AND CFO 227836 0 21599 0 2623 0 17223 0 20043 0 289324 0 0 0 KATHY SHELTON SVP AND COO 213373 0 20415 0 2479 0 25647 0 24414 0 286328 0 0 0 CHRISTOPHER LUMLEY VP OF IT SERVICES 194226 0 16744 0 2046 0 31504 0 24414 0 268934 0 0 0 DENISE JONES-FRASIER CHIEF OF STAFF SVP 198263 0 17561 0 1426 0 31597 0 1322 0 250169 0 0 0 MARY TAYLOR VP CHIEF COMMERCIAL LENDIN 195967 0 20077 0 288 0 7597 0 13445 0 237374 0 0 0 MICHELLE WILLIAMS VP HUMAN RESOURCES 163641 0 14927 0 1209 0 22900 0 7528 0 210205 0 0 0 TIMOTHY ROZALSKI VP OF MARKETING 179597 0 16473 0 2001 0 6913 0 260 0 205244 0 0 0 NINA SPENCER VP RETAIL DELIVERY 150494 0 14294 0 1157 0 5425 0 18442 0 189812 0 0 0 JEAN TYLER VP ACCOUNTING/CONTROLLER 157093 0 14301 0 1158 0 5594 0 0 0 178146 0 0 0 PART I, LINES 4A-B SCH J, PART I, LINE 4A: THE CREDIT UNION ENTERED INTO A DIRECTOR SEVERANCE PLAN WITH MEMBERS OF THE BOARD OF DIRECTORS THAT PROVIDES SEVERANCE PAYMENTS TO DIRECTORS UPON THEIR DEPARTURE FROM THE BOARD. THE ESTIMATED LIABILITY UNDER THESE AGREEMENTS IS BEING ACCRUED ON A STRAIGHT-LINE BASIS. NO DIRECTORS RECEIVED A DISBURSEMENT DURING 2021. SCH J, PART I, LINE 4B: THE BELOW-LISTED INDIVIDUALS PARTICIPATED IN A NON-QUALIFIED SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN. MICHELLE WILLIAMS ADRIAN JOHNSON JOHN HAMILTON KATHY SHELTON CHRISTOPHER LUMLEY DENISE JONES FRASIER NO PARTICIPANTS RECEVIED ANY DISBURSEMENTS DURING 2021. FORM 990, SCH J, LINE 4B THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO JOHN HAMILTON THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." UNDER THE AGREEMENT, THE EXECUTIVE IS THE OWNER OF THE POLICY AND MAKES A COLLATERAL ASSIGNMENT TO THE CREDIT UNION IN RETURN FOR A LOAN. AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE UNDERLYING LIFE INSURANCE POLICY TO SUPPLEMENT RETIREMENT INCOME. THESE DRAWS ARE TAX FREE FOR THE PARTICIPANTS. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. JOHN HAMILTON PRESIDENT AND CEO TO FUND SPLIT DOLLAR PREMIUMS X 5850000 5912694 0 1 1 5912694 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY. THEY MUST APPROVE AMENDMENTS TO CHANGE THE ARTICLES OF INCORPORATION. THE MEMBERSHIP MUST ALSO APPROVE CHANGES TO THE BYLAWS THAT IMPACT MEMBERSHIP MEETINGS, VOTING RIGHTS OF THE MEMBERS, ANY CHANGE IN THE FIELD OF MEMBERSHIP AND ANY CHANGE TO THE BYLAWS REGARDING THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE VP OF ACCOUNTING/CONTROLLER PERFORMS A DETAILED REVIEW OF THE TAX RETURN. THE CFO AND BOARD THEN REVIEW THE TAX RETURN PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C BOARD DIRECTORS, MECU EMPLOYEES AND SUPERVISORY AND CREDIT COMMITTEE MEMBERS ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE ANNUALLY. THE RESPONSES ARE REVIEWED BY MECU'S HUMAN RESOURCES DEPARTMENT TO VERIFY THAT EVERYONE IS IN COMPLIANCE WITH MECU'S CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 FOR THE CEO, A DESIGNATED COMMITTEE AND THE BOARD REVIEW DATA FROM INDUSTRY RELATED SURVEYS. OTHER ANALYSIS MAY BE PREPARED BY AN EXTERNAL CONSULTANT AS NEEDED. THIS DATA IS USED TO REVIEW COMPENSATION ALONG WITH CEO PERFORMANCE TO DETERMINE SALARY. FOR VP LEVEL EMPLOYEES AND ABOVE, A DESIGNATED COMMITTEE AND THE BOARD REVIEW DATA FROM INDUSTRY RELATED SURVEYS. OTHER ANALYSIS AS NEEDED MAY BE PREPARED BY AN EXTERNAL CONSULTANT, WHICH IS ALSO REVIEWED. WITH DIRECTION FROM THE BOARD, THE CEO WORKING WITH THE HR DEPARTMENT, MAKES DECISIONS ON EXECUTIVE LEVEL COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART IX, LINE 24E MEMBER SERVICING 1,138,226. FRAUD LOSSES 748,768. MEMBER STATEMENT EXPENSE 701,734. PROVISION FOR LOAN LOSSES 583,746. FORM 990, PART XI, LINE 9: RECLASSIFICATION ADJUSTMENT FOR NET INVESTMENT GAINS/LOSSES AFS -796,574. DEFINED BENEFIT PENSION PLAN NET PENSION GAINS/(LOSSES) 2,194,510. DEFINED BENEFIT PENSION PLAN AMORITZATION OF PRIOR SERVICE COSTS 169,205. 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.