2022-11-10T15:40:03-07:00 2021-12-31 990 2021-01-01 350779057 FORUM CREDIT UNION FORU 3175586000 PO BOX 50738 INDIANAPOLIS IN 46250 Jeffry Welch Chief Financial Officer 3175586000 2022-11-15 1 11 0 AAL2 2021 2022-09-23 18:48:47Z DOUGLAS TRUE PO BOX 50738 INDIANAPOLIS IN 46250 94102827 0 X WWW.FORUMCU.COM X 1941 IN FORUM CREDIT UNION'S MISSION IS TO BE AN INNOVATIVE, DYNAMIC, RESPONSIVE FINANCIAL SERVICES ORGANIZATION THAT PROVIDES PRODUCTS AND SERVICES THAT CREATE VALUE FOR ITS MEMBERS. 9 6 465 9 1944178 634616 0 0 87655053 89438617 1318431 1468051 1888797 2222387 90862281 93129055 150000 150000 0 0 32251713 32331958 0 0 0 44495542 35748853 76897255 68230811 13965026 24898244 1709424688 1879317913 1533025029 1677970043 176399659 201347870 FORUM IS A 501(C)(14) EXEMPT ORGANIZATION THAT IS OPERATED FOR MUTUAL PURPOSES AND WITHOUT PROFIT THAT 1)PROMOTES THRIFT AMONG MEMBERS AND 2)PROVIDES LOW COST CREDIT FOR MEMBERS. ITS COLLECTIVE CHARGE IS TO BE AN INNOVATIVE, DYNAMIC, AND RESPONSIVE FINANCIAL SERVICES ORGANIZATION PROVIDING PRODUCTS AND SERVICES THAT CREATE VALUE FOR ITS MEMBERS. 0 0 PROVIDING LOW COST CREDIT FOR MEMBERS IS THE BASIC FUNCTION OF A CREDIT UNION. THE COOPERATIVE NATURE OF THE CREDIT UNION ALLOWS FOR MARKET LENDING RATES TO BE OFFERED FOR MORTGAGE LOANS, HOME EQUITY LOANS AND PERSONAL LOANS. IN ADDITION, FORUM WORKS CLOSELY WITH THE FHA AND OTHER HOME OWNERSHIP ORGANIZATIONS TO HELP CONSUMERS REALIZE THE DREAM OF OWNING A HOME. FORUM ORIGINATED OVER $1 BILLION IN LOANS THIS YEAR IN ITS EFFORTS TO MEET THE MEMBERS' LENDING NEEDS. TO PROMOTE THRIFT AND RESPONSIBLE USE OF CREDIT WITHIN THE MEMBERSHIP, FORUM PROVIDES SEVERAL FINANCIAL EDUCATION OPPORTUNITIES INCLUDING FINANCIAL LITERACY CONTENT ON THE WEBSITE, FINANCIAL LITERACY VIDEOS, FINANCIAL SEMINARS, ONLINE BUDGETING TOOLS, IN BRANCH ACTIVITIES AND PROMOTIONS GEARED TO FINANCIAL EDUCATION. IN ADDITION, FORUM PROVIDES A VARIETY OF INNOVATIVE SAVINGS ACCOUNTS DESIGNED TO ENCOURAGE SYSTEMATIC SAVINGS WHICH HAS GENERATED OVER $23 MILLION IN PERSONAL SAVINGS. FORUM PROVIDES LENDING AND DEPOSITORY SERVICES FOR SMALL BUSINESS OWNERS. FORUM OFFERS SEVERAL TYPES OF COMMERCIAL LOANS INCLUDING SEVERAL OF THE SMALL BUSINESS ADMINISTRATION (SBA) LOANS TO HELP SMALL BUSINESS OWNERS GROW THEIR BUSINESSES. FORUM CURRENTLY WORKS WITH OVER 4,100 SMALL BUSINESS OWNERS PROVIDING A VARIETY OF PRODUCTS AND SERVICES. 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 1 0 0 0 0 1 1 1 1 0 1 115855 0 1 465 1 1 1 0 0 0 0 0 0 0 X 9 6 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 0 0 IN X JULIA CLARK 3175586216 PO BOX 50738 INDIANAPOLIS IN 46250 CHARLES ANDREW MATTINGLY CHIEF OPERATING OFFICER 40 1.00 X 763504 0 39164 DOUGLAS TRUE CHIEF EXECUTIVE OFFICER 40 1 X 593913 0 63422 MICHELLE ADRIAN MORTGAGE ORIGINATOR 40 0 X 507842 0 24186 BENJAMEN BANKS FINANCIAL ADVISOR- PCG 40 0 X 383234 0 59364 WILLIAM LOSH MORTGAGE ORIGINATOR 40 0 X 342269 0 15047 JEFFRY WELCH CHIEF FINANCIAL OFFICER 40 1.00 X 305511 0 39187 JENNIFER BUDREAU CHIEF OPERATING OFFICER 40 1 X 298541 0 43356 CAMERON PIERCEFIELD CHIEF TECHNOLOGY AND RISK OFFICER 40 1 X 296284 0 37766 TAMMY MARRS FINANCIAL ADVISOR 40 0 X 282124 0 48791 RUSSELL WAGONER MORTGAGE ORIGINATOR 40 0 X 307263 0 22417 RICK RAMBO TREASURER 5 0 X X 863 0 0 KEVIN HUNT CHAIRMAN 5 0 X X 0 0 0 TRACY MILLS VICE CHAIRMAN 5 0 X X 0 0 0 JODEE CURTIS DIRECTOR 5 0 X 0 0 0 JOHN GALLINA DIRECTOR 5 0 X 0 0 0 CHRIS HAGENOW SECRETARY 5 0 X X 0 0 0 KELLY WILSON DIRECTOR 5 0 X 0 0 0 LORI WINKLER DIRECTOR 5 0 X 0 0 0 DONNA WILKINSON DIRECTOR 5 0 X 0 0 0 4081348 0 392700 55 0 1 0 FMG INDIANAPOLIS LLC 1775 N WARM SPRINGS RD SALT LAKE CITY UT 84116 ADVERTISING 285250 CHURCH CHURCH HITTLE & ANTRIM TWO NORTH NINTH STREET NOBLESVILLE IN 46060 LEGAL SERVICES 205495 APPRAISERVENDORCOM LLC 3195 W FAIRVIEW RD SUITE A GREENWOOD IN 46142 APPRAISAL SERVICES 295080 LERETA LLC 901 CORPORATE CENTER DRIVE POMONA CA 91768 MORTGAGE SERVICES 163894 BILLY J PATRICK 6552 VENTNOR LANE INDIANAPOLIS IN 46217 CLEANING 161000 10 0 INTEREST AND FEES ON LOANS 522130 61672893 61672893 0 0 SERVICE FEE ON SHARE ACCOUNTS 522130 5132709 5044449 88260 0 DEBIT AND CREDIT CARD FEES 522130 9630005 9630005 0 0 MORTGAGE BANKING 522130 12063805 12063805 0 0 INSURANCE 522130 939205 889326 49879 0 0 0 0 0 89438617 1073732 0 0 1073732 0 0 0 0 0 0 0 0 406321 0 326091 0 80230 0 80230 0 -186178 266408 401000 641000 0 647681 401000 -6681 394319 394319 0 0 INVESTMENT ADVISORY SERVICES 523930 1988172 0 1988172 0 OTHER REVENUE 522130 153985 149940 4045 0 0 0 0 0 2142157 93129055 89844737 1944178 1340140 150000 2481511 23707542 934841 3356007 1852057 78113 106597 2553083 1076734 4191496 3248127 8263 347569 8322386 3130529 269487 PROVISION FOR LOAN LOSS 2555845 COLLECTIONS AND OTHER LOAN EXPENSES 6123471 CORRESPONDENT SERVICE EXPENSE 458883 INCOME TAX 1267671 2010599 68230811 0 0 0 3677957 6761149 145377630 298308439 1455717318 1465660683 74740742 41909943 33742798 32830799 29877277 36920881 5175000 7761200 0 0 0 0 35856708 31074762 1709424688 1879317913 21723998 20107776 105000000 85000000 1406301031 1572862267 1533025029 1677970043 X 0 0 0 0 176399659 201347870 176399659 201347870 1709424688 1879317913 X 24898244 49967 0 0 0 0 X 0 1 X 1 0 6962 0 0 6962 6962 1 INDIANA CREDIT UNION LEAGUE PAC PO BOX 50425 INDIANAPOLIS IN 46250 237305600 5000 0 INDIANA BUSINESS FOR RESPONSIVE GOVERNMENT 115 W WASHINGTON ST STE 850 INDIANAPOLIS IN 46204 351789566 1250 0 INDIANA CHAMBER OF COMMERCE 115 W WASHINGTON ST INDIANAPOLIS IN 46204 350411610 200 0 INDIANAPOLIS CHAMBER OF COMMERCE 111 MONUMENT CIR STE 1950 INDIANAPOLIS IN 46204 352106949 512 0 Schedule C, Part I-A, Line 1 FORUM CREDIT UNION CONTRIBUTED $5,000 TO THE INDIANA CREDIT UNION LEAGUE POLITICAL ACTION COMMITTEE, $1,250 TO THE INDIANA BUSINESS FOR RESPONSIVE GOVERNMENT, $200 TO THE INDIANA CHAMBER OF COMMERCE PAC, AND $512 TO THE INDIANAPOLIS CHAMBER OF COMMERCE. 0 7426758 7426758 0 38531464 21114145 17417319 0 2863034 2251923 611111 0 25919486 18543875 7375611 0 0 0 0 32830799 MEMBER SHARE ACCOUNTS 1546600267 NON-MEMBER DEPOSITS 26262000 1572862267 Schedule D, Part X, Line 1 MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITION UNDER GUIDANCE INCLUDED IN ASC740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. 1 FORUM CREDIT UNION FOUNDATION INC 11313 USA PARKWAY FISHERS IN 46037 463086648 501(C)(3) 150000 0 SCHOLARSHIP AND TEACHER GRANTS 1 0 Schedule I, Part I, Line 2 FORUM CREDIT UNION DONATES TO ITS RELATED ORGANIZATION, FORUM CREDIT UNION FOUNDATION, INC. THE FOUNDATION'S BOARD IS CONTROLLED BY THE FILING ORGANIZATION AND MAKES GRANTS AND SCHOLARSHIP DECISIONS. X 1 1 X X X 0 1 0 DOUGLAS TRUE CHIEF EXECUTIVE OFFICER 417711 0 171990 0 4212 0 32550 0 30872 0 657335 0 0 0 JEFFRY WELCH CHIEF FINANCIAL OFFICER 251112 0 50000 0 4399 0 10272 0 28915 0 344698 0 0 0 CHARLES ANDREW MATTINGLY CHIEF OPERATING OFFICER 236267 0 50000 0 477237 0 9969 0 29195 0 802668 0 0 0 JENNIFER BUDREAU CHIEF OPERATING OFFICER 244123 0 50000 0 4418 0 28774 0 14582 0 341897 0 0 0 CAMERON PIERCEFIELD CHIEF TECHNOLOGY AND RISK OFFICER 243872 0 50000 0 2412 0 24750 0 13016 0 334050 0 0 0 TAMMY MARRS FINANCIAL ADVISOR 282124 0 0 0 0 0 20673 0 28118 0 330915 0 0 0 RUSSELL WAGONER MORTGAGE ORIGINATOR 307263 0 0 0 0 0 22179 0 238 0 329680 0 0 0 BENJAMEN BANKS FINANCIAL ADVISOR- PCG 383234 0 0 0 0 0 32082 0 27282 0 442598 0 0 0 WILLIAM LOSH MORTGAGE ORIGINATOR 342269 0 0 0 0 0 13003 0 2044 0 357316 0 0 0 MICHELLE ADRIAN MORTGAGE ORIGINATOR 507842 0 0 0 0 0 19812 0 4374 0 532028 0 0 0 Schedule J, Part I, Line 1a RICK RAMBO, TREASURER RECEIVED A BENEFIT FOR TRAVEL FOR COMPANIONS FOR TRAVEL. THE APPROPRIATE TAX FORM WAS FILED BASED ON THE APPROPRIATE THRESHOLDS. Schedule J, Part I, Line 4 CHARLES MATTINGLY AND JEFFRY WELCH PARTICIPATE IN A SEPARATE 457(F) DEFERRED COMPENSATION PLAN. THE ORGANIZATION MADE $0 CONTRIBUTIONS TO THE PLAN. THERE WAS A $473,000 DISTRIBUTION TO CHARLES MATTINGLY DURING THE YEAR. THIS AMOUNT WAS INCLUDED IN HIS OTHER REPORTABLE COMPENSATION ON SCHEDULE J, PART II, AND INCLUDED ON HIS W-2. KATHLEEN PIERCEFIELD SPOUSE OF KEY EMPLOYEE 97617 COMPLENSATION OF EMPLOYEE 0 SOFTWARE ENGINEERING PROFESSIONALS KELLY WILSON -DIRECTOR 1239613 TECHNOLOGY SERVICES 0 SHIEL SEXTON COMPANY INC KEVIN HUNT - CHAIRMAN OF THE BOARD 249051 GENERAL CONSTRUCTION 0 PACERS SPORTS & ENTERTAINMENT DONNA WILKINSON - DIRECTOR 125339 ADVERTISING 0 Schedule L, Part IV THE INDIVIDUALS LISTED HERE WERE NOT INVOLVED IN FORUM CREDIT UNION'S DISCUSSIONS AND WERE NOT ELIGIBLE TO VOTE ON THE DECISION TO USE THEIR COMPANY. Form 990, Part VI, Section A, Line 6 THERE IS ONE CLASS OF MEMBERS. MEMBERS HAVE THE RIGHT TO ELECT THE BOARD AND SUPERVISORY COMMITTEE AT THE ANNUAL MEMBERSHIP MEETING. Form 990, Part VI, Section A, Line 7a EACH MEMBER OWNS ONE SHARE AND CAN ONLY VOTE ONCE. MEMBERS HAVE THE OPPORTUNITY TO VOTE AT THE ANNUAL MEETING ON NOMINEES FOR THE BOARD POSITIONS SELECTED BY THE NOMINATING COMMITTEE.THE BOARD APPOINTS FROM WITHIN ITSELF MEMBERS OF THE NOMINATING COMMITTEE. SHOULD A BOARD POSITION HAVE MORE THAN ONE CANDIDATE, A BALLOT WOULD BE MAILED 60 DAYS PRIOR TO THE ANNUAL MEETING TO ALL VOTING MEMBERS. THE BALLOT MUST BE RETURNED FIVE DAYS PRIOR TO THE ANNUAL MEETING. ALL BALLOTS WOULD BE VERIFIED AND TALLIED. THE RESULTS OF THE BALLOTS WOULD BE ANNOUNCED AT THE ANNUAL MEETING. Form 990, Part VI, Section B, Line 11b THE FORM 990 IS PREPARED INTERNALLY AND REVIEWED BY AN INDEPENDENT TAX RETURN PREPARER PRIOR TO FILING THE RETURN. SENIOR MANAGEMENT AND THE TREASURER CONDUCTS AN INITIAL REVIEW OF THE FORM 990 AND THEN THE BOARD TREASURER PROVIDES COPIES OF THE RETURN TO THE BOARD AND RESPONDS TO ANY QUESTIONS THAT ARISE. Form 990, Part VI, Section B, Line 12c BOARD MEMBERS, OFFICERS, AND KEY EMPLOYEES REVIEW THE CONFLICT OF INTEREST POLICY ANNUALLY TO DISCLOSE POTENTIAL CONFLICTS. BOARD MEMBERS DO NOT PARTICIPATE IN VOTING MATTERS WHERE CONFLICTS OF INTEREST EXIST. THE BOARD CHAIRMAN ENSURES THIS PRACTICE IS UPHELD. LIKEWISE, OFFICERS AND KEY EMPLOYEES WITH CONFLICTS OF INTEREST SHALL DISCLOSE THE MATTER TO THE CEO AND CHAIRMAN OF THE BOARD OF DIRECTORS. THE INDIVIDUAL SHALL MAKE NO DECISIONS OR TAKE ANY ACTIONS WITH RESPECT TO THE MATTER UNLESS AUTHORIZED BY THE CEO AND/OR BOARD OF DIRECTORS. THE OFFICER, DIRECTOR, OR KEY EMPLOYEE MAY BE ASKED TO RESIGN OR END THE CONFLICT. Form 990, Part VI, Section B, Line 15 THE COMPENSATION COMMITTEE AND THE BOARD REVIEWS THE CEO'S SALARY AND BENEFITS ANNUALLY. THEN APPROXIMATELY EVERY TWO YEARS THE COMMITTEE USES COMPENSATION SURVEYS WITH CRITERIA ON SIMILAR SIZE ORGANIZATIONS IN ITS DECISION MAKING PROCESS. ALL DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION AND BENEFITS ARE INCLUDED IN THE COMMITTEE MINUTES. THE LAST SURVEY WAS PERFORMED IN 2020. Form 990, Part VI, Section C, Line 19 GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE NOT REQUIRED DISCLOSURES PURSUANT TO INTERNAL REVENUE CODE SECTION 6104. THESE DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC AT THIS TIME. THE FORM 990 WHICH INCLUDES THE FINANCIAL STATEMENTS IS MADE AVAILABLE UPON REQUEST. Form 990, Part XI, Line 5 CHANGE IN CASH SURRENDER VALUE IS $154,813 AND CHANGE IN UNREALIZED (LOSS)/GAIN ON AVAILABLE FOR SALE SECURITIES IS $104,846. FORUM PRIVATE CLIENT GROUP LLC PO BOX 50738 INDIANAPOLIS IN 46250 208174999 INVESTMENT MGMT & INSURANCE REFERRAL IN 1992222 1002060 FORUM CREDIT UNION FORUM CREDIT UNION FOUNDATION INC 11313 USA PARKWAY FISHERS IN 46037 463086648 EDUCATIONAL GRANTS AND SCHOLARSHIPS IN 501(C)(3) PRIVATE FOUNDATION FORUM CREDIT UNION 1 FIMI INC 11313 USA PKWY FISHERS IN 46037 351714970 MORTGAGE LOANS IN FORUM CREDIT UNION C 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 FORUM CREDIT UNION FOUNDATION INC b 150000 CASH POSITION OF FORUM CREDIT UNION FORUM CREDIT UNION FOUNDATION INC n 7100 CASH POSITION OF FORUM CREDIT UNION FORUM CREDIT UNION FOUNDATION INC o 7100 CASH POSITION OF FORUM CREDIT UNION FORUM CREDIT UNION FOUNDATION INC q 7100 CASH POSITION OF FORUM CREDIT UNION