2022-10-31T07:23:23-05:00 2021-12-31 232108173 RKL LLP 1330 BROADCASTING ROAD WYOMISSING PA 196106008 990 2021-01-01 231445884 BELCO COMMUNITY CREDIT UNION BELC 8006424482 449 EISENHOWER BLVD HARRISBURG PA 17111 REBEKA LANDON SVP OF FINANCE 8006424482 2022-10-25 1 REBEKA LANDON 999009999 RUTHANN J WOLL CPA P00647342 6103761595 2022-10-25 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z AMEY R SGRIGNOLI 449 EISENHOWER BLVD HARRISBURG PA 17111 92326375 0 X WWW.BELCO.ORG X 1939 PA LOCAL BASED CREDIT UNION DEDICATED TO MEETING THE FINANCIAL SERVICE NEEDS OF OUR COMMUNITY. 8 8 311 14 89024 0 0 0 34163169 36648096 2030945 3623028 703384 590916 36897498 40862040 0 0 0 0 14557054 15808553 0 0 0 17653624 16599902 32210678 32408455 4686820 8453585 741180010 811601260 673735241 739587076 67444769 72014184 WE ARE A LOCALLY BASED, NOT-FOR-PROFIT CREDIT UNION DEDICATED TO MEETING THE FINANCIAL SERVICE NEEDS OF OUR MEMBERS AND COMMUNITIES WITH COMPETITIVE PRODUCTS AND SERVICES. 0 0 PROVIDE LOANS TO 70,964 MEMBERS. PROVIDE FINANCIAL SERVICES TO 70,694 MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 X 14128 0 1 311 1 1 1 0 0 0 0 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X REBEKA LANDON 8006424482 449 EISENHOWER BLVD HARRISBURG PA 17111 TERRY HESSLER CHAIR 5.00 X X 0 0 0 RICHARD D LYTLE TILL 42021 DIRECTOR 5.00 X 0 0 0 DOUG GRAHAM TILL 32021 DIRECTOR 5.00 X 0 0 0 LAVERN R SHEARER TILL 122021 DIRECTOR 5.00 X 0 0 0 RICHARD MYXTER VICE-CHAIR 5.00 X X 0 0 0 STEPHANIE F MILLER TREASURER 5.00 X X 0 0 0 BEVERLY A LILLEY SECRETARY 5.00 X X 0 0 0 DAWN GAMBLE ASSISTANT SECRETARY 5.00 X 0 0 0 JEFFREY COHICK ASSISTANT TREASURER 5.00 X 0 0 0 MARGARET A MINNICH DIRECTOR 5.00 X 0 0 0 WILLIAM F O'DONNELL DIRECTOR 5.00 X 0 0 0 AMEY R SGRIGNOLI PRESIDENT / CEO 50.00 X 451262 0 45987 JASON ALLEN SVP OF LENDING 45.00 X 201086 0 18560 PAUL PERINI SVP OF RETAIL 45.00 X 185645 0 22119 SAMUEL GLESNER SVP OF CORP SUPPORT 45.00 X 176369 0 18716 REBEKA LANDON SVP OF FINANCE 45.00 X 115627 0 19557 TIMOTHY BRADLEY VP INFORMATION TECHNOLOGY 45.00 X 150495 0 5970 MICHAEL WOLFE VP LENDING 45.00 X 147932 0 20652 ROBERT E HOKE VP OF CORP. SUPPORT 45.00 X 126423 0 16693 MARTI SPECK VP HR & TRAINING 45.00 X 119761 0 14996 ROXANE KAIN MORTGAGE SVCS MANAGER 45.00 X 113359 0 10981 1787959 0 194231 14 0 1 0 JACK HENRY & ASSOCIATES 663 W HWY 60 PO BOX 609 MONETT MO 65708 IT SVCS 1082413 HABERFELD ASSOCIATES LLC 206 S 13TH ST 1500 LINCOLN NE 68508 MARKETING SVCS 492110 DIEBOLD INC PO BOX 643543 PITTSBURGH PA 15264 ATM SVCS 480868 MAPLE STREET INC PO BOX 915505 LONGWOOD FL 32791 VENDOR MANAGEMENT 407179 KORPORATE COMPUTING 2051 STATE ROAD 100 CAMP HILL PA 17011 IT SVCS 390113 5 INTEREST INCOME 522291 23978197 23978197 FEE INCOME 522100 11688580 11688580 INVESTMENT SERVICE/OTHER INCOME 523000 514944 514944 CORPORATE CREDIT UNION MEMBER REF 523000 377351 377351 NON-MEMBER ATM INCOME 522200 89024 89024 36648096 3275293 3275293 104508 104508 927454 441046 486408 486408 486408 51371024 51023289 347735 347735 347735 40862040 36906807 89024 3866209 1243813 11713111 -317714 2186261 983082 15115 163234 1227081 1857128 1520139 3399248 1573487 88984 182337 1454115 1586332 168213 PLASTIC CARD EXPENSE 1646358 LENDING EXPENSES 999433 MISCELLANEOUS EXPENSE 363242 PROVISION FOR LOAN LOSS 354524 932 32408455 8038578 7555732 46810321 25419305 1692029 1647808 581560 592640 502966657 519711686 1768009 2065800 52705544 24853403 27131726 27852141 102574866 179343599 22470813 18561474 27145451 28851075 741180010 811601260 3978241 3840498 669757000 735746578 673735241 739587076 X 0 0 0 0 67444769 72014184 67444769 72014184 741180010 811601260 X 8453585 -4220946 336776 X X 0 1 X 1 0 5819748 5819748 28314972 10809838 17505134 282339 155910 126429 16419507 13887655 2531852 1868978 1868978 27852141 MEMBER SHARES AND SAVINGS ACCOUNTS 642214808 MEMBER CERTIFICATES OF DEPOSIT 92042976 ACCRUED DEFERRED COMPENSATION PLANS 1488794 735746578 41302154 440114 440114 40862040 0 40862040 32848569 440114 440114 32408455 0 32408455 PART XI, LINE 2D - OTHER ADJUSTMENTS: OTHER INVESTMENT ADJUSTMENT -932. RENTAL EXPENSES 441,046. PART XII, LINE 2D - OTHER ADJUSTMENTS: OTHER INVESTMENT ADJUSTMENT -932. RENTAL EXPENSES 441,046. 1 X X X X 0 1 0 AMEY R SGRIGNOLI PRESIDENT / CEO 366912 0 21265 0 63085 0 34409 0 11578 0 497249 0 0 0 JASON ALLEN SVP OF LENDING 190981 0 10105 0 0 0 7640 0 10920 0 219646 0 0 0 PAUL PERINI SVP OF RETAIL 176006 0 9639 0 0 0 7108 0 15011 0 207764 0 0 0 SAMUEL GLESNER SVP OF CORP SUPPORT 167034 0 9335 0 0 0 7138 0 11578 0 195085 0 0 0 TIMOTHY BRADLEY VP INFORMATION TECHNOLOGY 142100 0 8395 0 0 0 5970 0 0 0 156465 0 0 0 MICHAEL WOLFE VP LENDING 139923 0 8009 0 0 0 5641 0 15011 0 168584 0 0 0 PART I, LINE 4B THE FOLLOWING INDIVIDUALS PARTICIPATED IN THE ORGANIZATION'S NON-QUALIFIED 457(F) DEFERRED COMPENSATION PLAN AND EARNED UNVESTED BENEFITS ON THEIR BEHALF DURING 2021 : AMEY SGRIGNOLI AMOUNT: $178,343 LONNY J MAURER FORMER OFFICER FUND LIFE INSURANCE PREMIUMS X 500000 592640 0 1 1 592640 FORM 990, PART V, LINE 1C: THE ORGANIZATION DID HAVE INSTANCES WHERE BACKUP WITHHOLDING WAS REQUIRED. THE CREDIT UNION HANDLED THE REPORTING AS REQUIRED. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS OWNED BY ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION HAS A SINGLE CLASS OF MEMBERS. EACH MEMBER HAS A SINGLE VOTE IN THE ELECTION OF MEMBERS TO THE CREDIT UNION'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE CREDIT UNION'S MEMBERS MUST APPROVE: (1) THE MERGER OF THE CREDIT UNION (2) THE DISSOLUTION OR CONVERSION OF THE CREDIT UNION AND (3) CHANGES TO THE CREDIT UNION'S CHARTER, ARTICLES AND BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE CREDIT UNION'S BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE ARE PROVIDED WITH A COPY OF THE FORM 990 PRIOR TO THE FILING OF THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE, AND KEY BELCO EMPLOYEES MUST DISCLOSE ALL POTENTIAL CONFLICTS OF INTEREST, INCLUDING THOSE WHERE THE PERSON HAD INADVERTENTLY BEEN PLACED IN A SITUATION DUE TO EITHER A BUSINESS OR PERSONAL RELATIONSHIP. EACH MEMBER OF THE BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE, AND ALL KEY EMPLOYEES COVERED UNDER THIS POLICY WILL ANNUALLY SIGN THE "CONFLICT OF INTEREST STATEMENT" WHICH AFFIRMS THAT EACH PERSON: (1) HAS RECEIVED A COPY OF THE BELCO CONFLICT OF INTEREST POLICY, (2) HAS READ AND UNDERSTANDS THE BELCO CONFLICT OF INTEREST POLICY, (3) HAS AGREED TO COMPLY WITH THE BELCO CONFLICT OF INTEREST POLICY, (4) WAS NOT A PARTICIPANT, DIRECTLY OR INDIRECTLY, IN ANY ARRANGEMENT, AGREEMENT, INVESTMENT, OR OTHER ACTIVITY WITH ANY VENDOR, SUPPLIER, OR OTHER PARTY DOING BUSINESS WITH BELCO THAT HAS RESULTED OR COULD RESULT IN PERSONAL BENEFIT TO THEM, WHICH WAS NOT DISCLOSED TO AND APPROVED BY THE BOARD OF DIRECTORS, AND (5) WAS NOT A RECIPIENT, DIRECTLY OR INDIRECTLY, OF ANY SALARY PAYMENTS, LOANS, GIFTS OF ANY KIND, ANY FREE SERVICE OR DISCOUNTS, OR OTHER FEES FROM OR ON BEHALF OF ANY PERSON OR ENTITY ENGAGED IN ANY TRANSACTION WITH BELCO, WHICH WAS NOT DISCLOSED TO AND APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 THE BASE SALARY FOR THE PRESIDENT/CEO IS BASED ON THE FOLLOWING SOURCE, BALANCEDCOMP COMPENSATION SYSTEM AND ANNUAL BALANCEDCOMP SALARY SURVEY RESULTS REPORT. THE BALANCEDCOMP DATA IS PULLED FROM 22 DIFFERENT SALARY SURVEYS AND OUR DATA COMPARISON IS FILTERED BY ASSET SIZE, WE COMPARE OUR INFORMATION TO CREDIT UNIONS THAT ARE $600M TO $1B. BALANCEDCOMP PROVIDES A MINIMUM, MID-POINT, AND MAXIMUM BASE SALARY DATA. THE BALANCEDCOMP ANNUAL REPORTING ALSO INCLUDES AVERAGE BONUSES AND INCENTIVES BASED ON THE SAME CRITERIA ABOVE, SUCH AS ASSET SIZE, NUMBER OF BRANCHES, NUMBER OF FTE'S, ETC. BASE SALARY FOR ALL EMPLOYEES IS BASED ON THE DATA PROVIDED BY BALANCEDCOMP. AS EACH EMPLOYEE'S ANNUAL PERFORMANCE EVALUATION ARRIVES, THE PERFORMANCE SCORE DETERMINES THEIR SALARY INCREASE, THIS IS PROCESSED AND APPLIED. THEN A FULL SALARY ANALYSIS IS COMPLETED UTILIZING THE DATA IN BALANCEDCOMP SYSTEM. THE EMPLOYEE'S CURRENT COMPA-RATIO RATING COMBINED WITH THEIR PERFORMANCE REVIEW SCORE (VIA A MATRIX) DETERMINES THE OVERALL SALARY INCREASE RECOMMENDATION. THIS INCLUDES THE MERIT INCREASE AND ANY ADDITIONAL AMOUNT THAT MAY BE REQUIRED IN ORDER TO ARRIVE AT THE FULL AMOUNT RECOMMENDED BASED ON THE PERFORMANCE REVIEW SCORE AND COMPA-RATIO RATING. BELCO'S COMPENSATION PHILOSOPHY STATES THAT A NON-EXEMPT EMPLOYEE SHOULD BE AT 99% COMPA-RATIO FOR THEIR POSITION SALARY GRADE RANGE WHEN THEY HAVE ACHIEVED THREE YEARS OF EXPERIENCE IN THEIR ROLE. FOR EXEMPT & EXECUTIVE EMPLOYEES, THE PHILOSOPHY STATES THAT AN EMPLOYEE SHOULD BE AT 97.5% COMPA-RATIO ONCE THEY HAVE ACHIEVED FIVE YEARS OF EXPERIENCE WITHIN THEIR POSITION. THE VICE PRESIDENT OF HUMAN RESOURCES & TRAINING MAKES ANNUAL RECOMMENDATIONS TO THE PRESIDENT/CEO FOR CHANGES TO THE MATRIX THAT DETERMINES OVERALL SALARY INCREASES TO BRING EMPLOYEES IN LINE, OVER TIME, WITH BELCO'S COMPENSATION PHILOSOPHY FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST, COPIES OF THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE POSTED IN THE LOBBIES OF ALL BRANCHES ON A MONTHLY BASIS. QUARTERLY FINANCIAL STATEMENTS (CALL REPORTS) ARE AVAILABLE ON WWW.NCUA.GOV. FORM 990, PART XI, LINE 9: NET CHANGE ON PENSION LIABILITY 336,776. FORM 990, PART XII, LINE 2C: THE CREDIT UNION HAS A SUPERVISORY COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.