2022-11-15T08:25:40-06:00 2021-12-31 FORVIS LLP 201 N Illinois Street Indianapolis IN 46204 990 2021-01-01 350978599 Crane Credit Union % ALVIN LECHER CRAN 8128637115 1 W Gate Drive Odon IN 47562 ALVIN LECHER CFO 8128637115 2022-11-15 true ALVIN LECHER 999009999 MICHAEL J SUMMERS P00838533 3173834000 2022-11-15 3 2021 2022-09-23 18:48:47Z KEVIN SPARKS 1 W Gate Drive Odon IN 47562 73353582 false X WWW.CRANECU.ORG X 1955 IN PROMOTE THRIFT, PROVIDE CREDIT AT COMPETITIVE RATES, AND PROVIDE FINANCIAL SERVICES TO MEMBERS. 7 2 236 213012 0 0 0 28612241 32692878 3210940 2621694 425566 463983 32248747 35778555 13200 13200 0 0 8999020 11282723 0 0 0 16851508 15178408 25863728 26474331 6385019 9304224 853062698 926412870 756909887 826526441 96152811 99886429 COOPERATIVELY PROMOTE MEMBER THRIFT BY PROVIDING FINANCIAL SERVICES AND BENEFITS FOR OUR MEMBERSHIP. false false DURING THE YEAR, THE CREDIT UNION GRANTED 13,861 LOANS TOTALING $320,563,321. IN ADDITION, 5,699 NEW MEMBERSHIPS WERE OPENED. OVERALL THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO 62,942 MEMBERS. EFFECTIVE AUGUST 31, 2021, THE CREDIT UNION ACQUIRED 100 PERCENT OF THE ASSETS AND LIABILITIES OF OUR COMMUNITY BANK. THE ACQUISITION ADDS LOCATIONS IN THE INDIANA CITIES OF SPENCER AND CLOVERDALE AS WELL AS FINANCIAL INSTITUTION EXPERTISE, WHICH WILL ALLOW CRANE CREDIT UNION TO BETTER SERVE THE FINANCIAL NEEDS OF ITS CURRENT MEMBERS. false false false false false false false true false true false false false true true false true false false false false false false false false false false true true false true false false false false false false false false true false false false true 9224 0 true 236 true true true false false false false false false false X 7 2 false false false false true true true true true false true true true true true true true true true false false X ALVIN LECHER 8128637000 1 W GATE DRIVE ODON IN 47562 KEVIN SPARKS CEO/PRESIDENT 40.0 0.0 X 228004 0 21748 MARK DUNN VP BUSINESS SERVICES 40.0 0.0 X 158299 0 19697 TIM LUKOMSKI CHIEF FINANCIAL OFFICER 40.0 0.0 X 149859 0 24938 BRYAN MYERS CHEIF OPERATING OFFICER 40.0 0.0 X 141158 0 18015 GARY MICHAEL WIGGINGTON VICE PRESIDENT IT 40.0 0.0 X 110552 0 25411 BRUCE W CUMMINGS TREASURER 4.0 0.0 X X 26850 0 0 DAVID H FYRE SECRETARY 4.0 0.0 X X 21600 0 0 DALE L PADGETT JR VICE CHAIRMAN 4.0 0.0 X X 21550 0 0 PATRICIA HERNDON DIRECTOR 4.0 0.0 X 21200 0 0 JEFFREY L SCHAFER DIRECTOR 4.0 0.0 X 20650 0 0 GARY E GRAY JR CHAIRMAN 4.0 0.0 X X 20250 0 0 DOUGLAS R RANARD SUPERVISORY 4.0 0.0 X 11648 0 0 QUENTIN D HAYS SUPERVISORY 4.0 0.0 X 8950 0 0 JOHN D PREBLE SUPERVISORY 4.0 0.0 X 6800 0 0 947370 0 109809 5 false true false ELECTRONIC STRATEGIES INC 8050 CASTLEWAY DR INDIANAPOLIS IN 46250 IT CONSULTING 842298 JACK HENRY AND ASSOCIATES 663 W HIGHWAY 60 MONETT MO 65708 CORE BANKING SYSTEM 597572 QSI 107 SCHULER DR BARDSTOWN KY 40004 ATM 297821 ACCESS SOFTEK INC 727 ALSTON WAY BERKLEY CA 94710 ELECTRONIC BANKING 290808 WINDSTREAM PO BOX 9001013 LOUISVILLE KY 40290 COMMUNICATIONS 293244 18 0 INTEREST ON LOANS 522130 23492082 23492082 INTERCHANGE ON INCOME 522130 5138082 5138082 SERVICE CHARGES AND FEES 522130 1400126 1284773 115353 LOAN FEES AND CHARGES 522130 536675 536675 OTHER NON-INTEREST INCOME 522130 2125913 2125913 32692878 1901140 -2 1901142 0 0 86091 67875 18216 0 18216 18216 37647923 579783 36976008 531144 671915 48639 720554 720554 0 0 0 0 0 0 0 0 0 LIFE INSURANCE CSV 522100 348106 348106 SHARED BRANCHING 522130 97661 97661 445767 35778555 32925631 213012 2639912 0 13200 0 0 1057179 0 7293969 523627 1793747 614201 0 119742 106970 0 0 0 2400127 1111469 510291 190921 0 1703089 81021 0 0 2427634 0 2628017 209779 LOAN SERVICING EXPENSE 342027 DATA PROCESSING FEES 1731039 PROVISION FOR LOAN LOSS -52344 EDUCATION AND PROMOTION 624745 1043881 26474331 7977958 8105439 115705111 28625967 1920832 2233103 159433 127339 630757 1034242 0 0 525412436 609692688 0 0 540970 573919 33123494 20189769 12155628 12933725 161808588 224166629 0 0 0 0 4650545 9934872 22100440 28984947 853062698 926412870 4484498 5061168 0 0 0 0 0 0 807677 1113285 0 0 32000000 17625424 0 0 719617712 802726564 756909887 826526441 X 0 0 0 0 96152811 99886429 96152811 99886429 853062698 926412870 9304224 -5570606 X false true X true false false true X 2923549 2923549 15829578 8541567 7288011 320186 320186 14050181 11328016 2722165 12933725 0 MEMBERS' SHARES 802726564 802726564 X SCHEDULE D, PART IV, LINE 2B - EXPLANATION OF ESCROW AGREEMENT THE CREDIT UNION MAINTAINS ESCROW ACCOUNTS FOR PROPERTY TAXES AND INSURANCE FOR MEMBER LOANS. SCHEDULE D, PART X, LINE 2 - ASC 740 FOOTNOTE THE CREDIT UNION IS STATE CHARTERED AND FEDERALLY TAX-EXEMPT UNDER INTERNAL REVENUE CODE 501(C)(14), EXCEPT TO THE EXTENT OF UNRELATED BUSINESS INCOME. UNRELATED BUSINESS INCOME IS INSIGNIFICANT AND NO TAX PROVISION HAS BEEN MADE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. THE CREDIT UNION'S WHOLLY OWNED SUBSIDIARIES ARE DISREGARDED ENTITIES FOR TAX PURPOSES AND ARE THEREFORE NOT SUBJECT TO FEDERAL INCOME TAX. THE CREDIT UNION MAY RECOGNIZE A LIABILITY FOR UNRECOGNIZED TAX BENEFITS FROM UNCERTAIN TAX POSITIONS. UNRECOGNIZED TAX BENEFITS REPRESENT THE DIFFERENCES BETWEEN A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN AND THE BENEFIT RECOGNIZED AND MEASURED IN THE CONSOLIDATED FINANCIAL STATEMENTS. INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS ARE CLASSIFIED AS INCOME TAX EXPENSE. THE CREDIT UNION HAD NO UNRECOGNIZED TAX BENEFITS AT DECEMBER 31, 2021 AND 2020. SCHOLARSHIPS 11 13200 SCHEDULE I, PART I, LINE 2 - PROCEDURES FOR MONITORING USE OF GRANT FUNDS SCHOLARSHIP FINALISTS WILL BE CHOSEN BY A SCHOLARSHIP COMMITTEE AND APPROVED BY THE BOARD OF DIRECTORS. APPLICANTS WILL BE JUDGED ON THE FOLLOWING: APPLICATION 30%, ACADEMIC PROFILE 10%, ESSAY 60%. X true true X X false true false KEVIN SPARKS CEO/PRESIDENT 171746 20495 35763 20771 977 249752 TIM LUKOMSKI CHIEF FINANCIAL OFFICER 120311 8211 21337 2997 21941 174797 BRYAN MYERS CHEIF OPERATING OFFICER 113806 7849 19503 2823 15192 159173 MARK DUNN VP BUSINESS SERVICES 86829 5407 66063 50 19647 177996 51200 SCHEDULE J, PART I, LINE 1A - TRAVEL FOR COMPANIONS AIRFARE FOR BOARD MEMBERS' SPOUSES IS PAID BY THE CREDIT UNION. SPOUSES' MEALS ARE PAID FOR FOR ANY CREDIT UNION EMPLOYEE OR BOARD MEMBER ON OFFICIAL CREDIT UNION BUSINESS. THESE EXPENSES WERE NOT INCLUDED IN TAXABLE INCOME TO THE BOARD MEMBER. SCHEDULE J, PART I, LINE 4B - SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN CRANE CREDIT UNION (CCU) PROVIDES A SUPPLEMENTAL NONQUALIFIED RETIREMENT 457(F) PLAN TO EXECUTIVE LEVEL EMPLOYEES. THE ORGANIZATION MAKES ANNUAL CONTRIBUTIONS TO THE PLAN. THE DEPOSITS ARE OWNED BY CCU AND ARE TAX-DEFERRED UNTIL A DISTRIBUTIONS ARE MADE. DISTRIBUTIONS ARE MADE EVERY FIVE YEARS FOR ALL EXECUTIVES THAT ARE STILL ACTIVELY EMPLOYED ON THE DISTRIBUTION DATE. CONTRIBUTIONS TO THE PLAN FOR 2021 ARE AS FOLLOWS: KEVIN SPARKS, PRESIDENT - $20,771 TIM LUKOMSKI, CFO - $13,978 BRYAN MYERS, COO - $13,998 GARY MICHEL WIGGINGTON, VP IT - $8,844 MARK DUNN, VP OF BUSINESS SERVICES - $5,087 SCHEDULE J, PART II, COLUMN F - COMPENSATION DEFERRED ON PRIOR YEAR 990 MARK DUNN - VP OF BUSINESS SERVICES, RECEIVED 457 PAYOUT IN THE AMOUNT OF $51,200 IN 2021. MIKE WIGGINTON VP OF IT AUTO X 61000 49000 false false true MIKE WIGGINTON VP OF IT PRIMARY RESIDENCE X 170000 137836 false false true BRYAN MYERS CHIEF OPERATING OFFICER AUTO X 29000 24502 false false true BRYAN MYERS CHIEF OPERATING OFFICER PRIMARY RESIDENCE X 132450 115331 false false true KEVIN SPARKS CHIEF EXECUTIVE OFFICER AUTO X 22000 14361 false false true DALE PADGETT BOARD MEMBER AUTO X 22328 15020 false false true DAVID FRYE BOARD MEMBER AUTO X 25000 14393 false false true DAVID FRYE BOARD MEMBER PRIMARY RESIDENCE X 160000 71598 false false true QUENTIN HAYS BOARD MEMBER AUTO X 25662 6640 false false true QUENTIN HAYS BOARD MEMBER AUTO X 33216 9604 false false true QUENTIN HAYS BOARD MEMBER PRIMARY RESIDENCE X 397000 371487 false false true TIM LUKOMSKI CFO AUTO X 46187 41909 false false true TIM LUKOMSKI CFO PRIMARY RESIDENCE X 160800 141007 false false true TIM LUKOMSKI CFO HOME EQUITY X 22000 21554 false false true 1034242 FORM 990, PART IV, LINE 6 THE CREDIT UNION HAS MEMBERS. FORM 990, PART IV, LINE 7A EACH MEMBER IS ENTITLED TO ONE VOTE ON ALL MATTERS BROUGHT TO VOTE AT THE ANNUAL MEETING. FORM 990, PART VI, LINE 7B MEMBERSHIP VOTE IS REQUIRED FOR MERGERS AND CHARTER CONVERSIONS. FORM 990, PART VI, LINE 8B AS AUTHORIZED BY THE ACT, THE BOARD APPOINTS AN EXECUTIVE COMMITTEE OF NOT FEWER THAN THREE DIRECTORS TO SERVE AT ITS PLEASURE, TO ACT FOR IT WITH RESPECT TO THE BOARD'S SPECIFICALLY DELEGATED FUNCTIONS. WHEN MAKING DELEGATIONS TO THE EXECUTIVE COMMITTEE, THE BOARD MUST BE SPECIFIC WITH REGARD TO THE COMMITTEE'S AUTHORITY AND LIMITATIONS RELATED TO THE PARTICULAR DELEGATION. THE BOARD MAY ALSO AUTHORIZE ANY OF THE FOLLOWING TO APPROVE MEMBERSHIP APPLICATIONS UNDER CONDITIONS THE BOARD AND THESE BYLAWS MAY PRESCRIBE: AN EXECUTIVE COMMITTEE; A MEMBERSHIP OFFICER(S) APPOINTED BY THE BOARD FROM THE MEMBERSHIP, OTHER THAN A BOARD MEMBER PAID AS AN OFFICER; THE FINANCIAL OFFICER; ANY ASSISTANT TO THE PAID OFFICER OF THE BOARD OR TO THE FINANCIAL OFFICER; OR ANY LOAN OFFICER. NO EXECUTIVE COMMITTEE MEMBER OR MEMBERSHIP OFFICER MAY BE COMPENSATED AS SUCH. FORM 990, PART VI, LINE 11B FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM, THEN REVIEWED BY THE CREDIT UNION'S CFO AND PRESIDENT PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, LINE 12C THE ORGANIZATION'S OFFICERS, DIRECTORS, AND ALL EMPLOYEES ARE REQUIRED TO ANNUALLY DISCLOSE ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST THEY MAY HAVE WITH THE ORGANIZATION. IF THERE IS A KNOWN CONFLICT, THAT INDIVIDUAL IS RESTRICTED FROM PERFORMING TRANSACTIONS ON CERTAIN ACCOUNTS. IF A CONFLICT ARISES WITH A BOARD MEMBER, THE RESPECTIVE BOARD MEMBER WILL ABSTAIN FROM ANY RELATED DISCUSSION, VOTE, OR SIMILAR ACTION ON THE MATTER. FORM 990, PART VI, LINE 15A THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE PRESIDENT/CEO'S COMPENSATION ANNUALLY. HUMAN RESOURCES USES A SYSTEM CALLED COMPEASE TO GATHER DATA FROM OTHER INSTITUTIONS TO DETERMINE THE PRESIDENT/CEO'S COMPENSATION BASED ON A RANGE FROM COMPARABLE ORGANIZATIONS. THIS PROCESS IS DOCUMENTED IN BOARD MINUTES. FORM 990, PART VI, LINE 15B THE PRESIDENT/CEO DETERMINES THE COMPENSATION OF THE OTHER EMPLOYEE(S) OF THE ORGANIZATION. COMPENSATION IS REVIEWED ANNUALLY. FORM 990, PART VI, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE POSTED QUARTERLY IN CREDIT UNION BRANCHES. CRANE TITLE LLC 1 W GATE DRIVE ODON IN 47562 271534978 LEGAL SERVICE IN 0 CRANE CU CRANE FCU PROPERTIES 1 W GATE DRIVE ODON IN 47562 271537278 PROPERTY MGMT IN 0 CRANE CU