STATE CHARTERED CREDIT UNIONS IN MS: Form 990, tax year 2020

View the entire original 990 at ProPublica ↗

Organization: STATE CHARTERED CREDIT UNIONS IN MS (EIN 64-0344965)
Tax period: 2020-01-01 to 2020-12-31
Filed: 2021-06-08
IRS object ID: 202101599349300110
Schema version: 2020v4.1
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule D
Schedule J
Schedule L
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2021-06-08T09:13:09-05:00	ReturnTs
Tax Period End	2020-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	461498870	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	BMSS LLC	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	1121 RIVERCHASE OFFICE ROAD	AddressLine1Txt
City	BIRMINGHAM	CityNm
State Abbreviation	AL	StateAbbreviationCd
ZIP	35244	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2020-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	640344965	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	STATE CHARTERED CREDIT UNIONS IN MS	BusinessNameLine1Txt
Business Name Line2	MEMBERS EXCHANGE CREDIT UNION	BusinessNameLine2Txt

Field	Value	IRS element (for citing)
Business Name Control	STAT	BusinessNameControlTxt
Phone	6019234324	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 31049	AddressLine1Txt
City	JACKSON	CityNm
State Abbreviation	MS	StateAbbreviationCd
ZIP	392861049	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	MITZI TATE	PersonNm
Person Title	PRESIDENT/CEO	PersonTitleTxt
Phone	6019223350	PhoneNum
Signature	2021-05-06	SignatureDt
Discuss With Paid Preparer	Yes (1)	DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Field	Value	IRS element (for citing)
Person First	MITZI	PersonFirstNm
Person Last	TATE	PersonLastNm

Field	Value	IRS element (for citing)
SSN	999009999	SSN

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	D SCOTT STEVENS CPA	PreparerPersonNm
PTIN	P00362431	PTIN
Phone	2059825500	PhoneNum
Preparation	2021-05-06	PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

Field	Value	IRS element (for citing)
Trusted Customer	2	TrustedCustomerCd
Authentication Assurance Level	AAL1	AuthenticationAssuranceLevelCd
Identity Assurance Level	IAL1	IdentityAssuranceLevelCd

Field	Value	IRS element (for citing)
Tax	2020	TaxYr
Build TS	2022-09-23 18:48:47Z	BuildTS

Form 990 IRS990

Doing Business As Name DoingBusinessAsName

Field	Value	IRS element (for citing)
Business Name Line1	MEMBERS EXCHANGE CREDIT UNION	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Principal Officer	MITZI TATE	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 31049	AddressLine1Txt
City	JACKSON	CityNm
State Abbreviation	MS	StateAbbreviationCd
ZIP	392861049	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$8,645,812	GrossReceiptsAmt
Group Return For Affiliates	0	GroupReturnForAffiliatesInd
Organization501c	Yes (X)	Organization501cInd
Website Address	WWW.MECUANYWHERE.COM	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	1954	FormationYr
Legal Domicile State	MS	LegalDomicileStateCd
Activity Or Mission	TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS	ActivityOrMissionDesc
Voting Members Governing Body	7	VotingMembersGoverningBodyCnt
Voting Members Independent	7	VotingMembersIndependentCnt
Total Employee	50	TotalEmployeeCnt
Total Volunteers	7	TotalVolunteersCnt
Total Gross UBI	$34,320	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$0	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$0	PYContributionsGrantsAmt
CY Contributions Grants	$0	CYContributionsGrantsAmt
PY Program Service Revenue	$4,770,456	PYProgramServiceRevenueAmt
CY Program Service Revenue	$4,132,600	CYProgramServiceRevenueAmt
PY Investment Income	$1,005,417	PYInvestmentIncomeAmt
CY Investment Income	$837,553	CYInvestmentIncomeAmt
PY Other Revenue	$4,208,345	PYOtherRevenueAmt
CY Other Revenue	$3,675,659	CYOtherRevenueAmt
PY Total Revenue	$9,984,218	PYTotalRevenueAmt
CY Total Revenue	$8,645,812	CYTotalRevenueAmt
PY Grants And Similar Paid	$6,351	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$4,555	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$0	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$3,432,218	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$3,351,659	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$5,781,154	PYOtherExpensesAmt
CY Other Expenses	$4,772,410	CYOtherExpensesAmt
PY Total Expenses	$9,219,723	PYTotalExpensesAmt
CY Total Expenses	$8,128,624	CYTotalExpensesAmt
PY Revenues Less Expenses	$764,495	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$517,188	CYRevenuesLessExpensesAmt
Total Assets BOY	$112,227,220	TotalAssetsBOYAmt
Total Assets EOY	$129,969,799	TotalAssetsEOYAmt
Total Liabilities BOY	$91,517,807	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$108,691,118	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$20,709,413	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$21,278,681	NetAssetsOrFundBalancesEOYAmt
Mission	TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS	MissionDesc
Significant New Program Srvc	0	SignificantNewProgramSrvcInd
Significant Change	0	SignificantChangeInd
Desc	15,075 MEMBERS SERVED TO PROMOTE THRIFT OPPORTUNITIES AND LOW COST LOANS	Desc
Described In Section501c3	0	DescribedInSection501c3Ind
Schedule B Required	0	ScheduleBRequiredInd
Political Campaign Acty	0	PoliticalCampaignActyInd
Subject To Proxy Tax	0	SubjectToProxyTaxInd
Donor Advised Fund	0	DonorAdvisedFundInd
Conservation Easements	0	ConservationEasementsInd
Collections Of Art	0	CollectionsOfArtInd
Credit Counseling	0	CreditCounselingInd
Donor Rstr Or Quasi Endowments	0	DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment	Yes (1)	ReportLandBuildingEquipmentInd
Report Investments Other Sec	0	ReportInvestmentsOtherSecInd
Report Program Related Invst	0	ReportProgramRelatedInvstInd
Report Other Assets	0	ReportOtherAssetsInd
Report Other Liabilities	Yes (1)	ReportOtherLiabilitiesInd
Include FIN48 Footnote	0	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	0	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	0	ConsolidatedAuditFinclStmtInd
School Operating	0	SchoolOperatingInd
Foreign Office	0	ForeignOfficeInd
Foreign Activities	0	ForeignActivitiesInd
More Than5000 K To Org	0	MoreThan5000KToOrgInd
More Than5000 K To Individuals	0	MoreThan5000KToIndividualsInd
Professional Fundraising	0	ProfessionalFundraisingInd
Fundraising Activities	0	FundraisingActivitiesInd
Gaming Activities	0	GamingActivitiesInd
Operate Hospital	0	OperateHospitalInd
Grants To Organizations	0	GrantsToOrganizationsInd
Grants To Individuals	0	GrantsToIndividualsInd
Schedule J Required	Yes (1)	ScheduleJRequiredInd
Tax Exempt Bonds	0	TaxExemptBondsInd
Loan Outstanding	Yes (1)	LoanOutstandingInd
Grant To Related Person	0	GrantToRelatedPersonInd
Business Rln With Org Mem	0	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	0	BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent	0	BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri	0	DeductibleNonCashContriInd
Deductible Art Contribution	0	DeductibleArtContributionInd
Terminate Operations	0	TerminateOperationsInd
Partial Liquidation	0	PartialLiquidationInd
Disregarded Entity	0	DisregardedEntityInd
Related Entity	0	RelatedEntityInd
Related Organization Ctrl Ent	0	RelatedOrganizationCtrlEntInd
Activities Conducted Prtshp	0	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (1)	ScheduleORequiredInd
IRP Document	2509	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (1)	BackupWthldComplianceInd
Employee	50	EmployeeCnt
Employment Tax Returns Filed	Yes (1)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	Yes (1)	UnrelatedBusIncmOverLimitInd
Form990 T Filed	Yes (1)	Form990TFiledInd
Foreign Financial Account	0	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTransInd
Taxable Party Notification	0	TaxablePartyNotificationInd
Nondeductible Contributions	0	NondeductibleContributionsInd
Indoor Tanning Services	0	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	0	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	0	SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	7	GoverningBodyVotingMembersCnt
Independent Voting Member	7	IndependentVotingMemberCnt
Family Or Business Rln	0	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	0	DelegationOfMgmtDutiesInd
Change To Org Documents	0	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	0	MaterialDiversionOrMisuseInd
Members Or Stockholders	Yes (1)	MembersOrStockholdersInd
Election Of Board Members	Yes (1)	ElectionOfBoardMembersInd
Decisions Subject To Approva	Yes (1)	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (1)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (1)	MinutesOfCommitteesInd
Officer Mailing Address	0	OfficerMailingAddressInd
Local Chapters	Yes (1)	LocalChaptersInd
Policies Reference Chapters	Yes (1)	PoliciesReferenceChaptersInd
Form990 Provided To Gvrn Body	Yes (1)	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	Yes (1)	ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn	Yes (1)	AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc	Yes (1)	RegularMonitoringEnfrcInd
Whistleblower Policy	Yes (1)	WhistleblowerPolicyInd
Document Retention Policy	Yes (1)	DocumentRetentionPolicyInd
Compensation Process CEO	Yes (1)	CompensationProcessCEOInd
Compensation Process Other	Yes (1)	CompensationProcessOtherInd
Investment In Joint Venture	0	InvestmentInJointVentureInd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	SUSAN BOSHART EXECUTIVE VICE PRESIDENT	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	6019234324	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	107 MARKETRIDGE DRIVE	AddressLine1Txt
City	RIDGELAND	CityNm
State Abbreviation	MS	StateAbbreviationCd
ZIP	39157	ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (12 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt	OfficerOfficerInd
KENNETH ALLISON
BOARD CHAIRMAN	1.00	Yes (X)	$0	$0	$0
OSCAR POPE
BOARD VICE-CHAIRMAN	1.00	Yes (X)	$0	$0	$0
BARBARA MANGUM
BOARD SECRETARY	1.00	Yes (X)	$0	$0	$0
ERNIE HOPKINS
DIRECTOR	1.00	Yes (X)	$0	$0	$0
MARY WASHINGTON-GARNER
DIRECTOR	1.00	Yes (X)	$0	$0	$0
DOCK E GRAVES
DIRECTOR	1.00	Yes (X)	$0	$0	$0
LORI MOAK
DIRECTOR	1.00	Yes (X)	$0	$0	$0
MITZI TATE
PRESIDENT/CEO	40.00		$291,593	$0	$30,436	Yes (X)
KAREN ROOT
EXECUTIVE VICE PRESIDENT	40.00		$181,683	$0	$19,435	Yes (X)
SUSAN BOSHART
EXECUTIVE VICE PRESIDENT	40.00		$179,099	$0	$19,674	Yes (X)
MALEIGH COFFEY
VICE PRESIDENT	40.00		$102,842	$0	$16,187	Yes (X)
LADONNA JACOBS
VICE PRESIDENT	40.00		$106,876	$0	$16,675	Yes (X)

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$862,093	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$102,407	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	5	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	0	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	Yes (1)	TotalCompGreaterThan150KInd
Compensation From Other Srcs	0	CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1Txt	CityContractorAddress/USAddress/CityNm	State AbbreviationContractorAddress/USAddress/StateAbbreviationCd	ZIPContractorAddress/USAddress/ZIPCd	ServicesServicesDesc	CompensationCompensationAmt
FOUNTAIN CONSTRUCTION CO INC
PO BOX 10506	JACKSON	MS	39289	CONSTRUCTION CONTRACTOR	$543,924
MEMBER DRIVEN TECHNOLOGIES
7415 CHICAGO RD	WARREN	MI	48092	DATA PROCESSING	$509,607
LSI
2200 POINT BLVD	ELGIN	IL	60123	OUTSOURCED CALL AND LENDER CENTER	$413,000
JACK HENRY (CPS)
633 W HIGHWAY 60	MONETT	MO	65708	DEBIT/CREDIT/ATM PROCESSING	$345,325
BANCVUE
4516 SEATON PARKWAY SUITE 300	AUSTIN	TX	78759	REWARD CHECKING PRODUCTS & MARKETING	$183,398

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	6	CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp

Field	Value	IRS element (for citing)
Desc	LOAN INTEREST INCOME	Desc
Business	522130	BusinessCd
Total Revenue Column	$4,132,600	TotalRevenueColumnAmt
Related Or Exempt Func Income	$4,132,600	RelatedOrExemptFuncIncomeAmt

Field	Value	IRS element (for citing)
Total Program Service Revenue	$4,132,600	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$837,553	TotalRevenueColumnAmt
Exclusion	$837,553	ExclusionAmt

Royalties Revenue RoyaltiesRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$36,433	TotalRevenueColumnAmt
Exclusion	$36,433	ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp (3 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
ACCOUNT SERVICE AND CH	522130	$1,504,283	$1,504,283
INTERCHANGE ACCOUNT CH	522130	$652,901	$652,901
ACH FEE INCOME	522130	$613,540	$613,540

Miscellaneous Revenue MiscellaneousRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$868,502	TotalRevenueColumnAmt
Related Or Exempt Func Income	$834,182	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$34,320	UnrelatedBusinessRevenueAmt

Field	Value	IRS element (for citing)
Other Revenue Total	$3,639,226	OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$8,645,812	TotalRevenueColumnAmt
Related Or Exempt Func Income	$7,737,506	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$34,320	UnrelatedBusinessRevenueAmt
Exclusion	$873,986	ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

Field	Value	IRS element (for citing)
Total	$1,805	TotalAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

Field	Value	IRS element (for citing)
Total	$2,750	TotalAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

Field	Value	IRS element (for citing)
Total	$964,500	TotalAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$1,711,652	TotalAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$247,892	TotalAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$240,664	TotalAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$186,951	TotalAmt

Fees For Services Management FeesForServicesManagementGrp

Field	Value	IRS element (for citing)
Total	$50,086	TotalAmt

Fees For Services Legal FeesForServicesLegalGrp

Field	Value	IRS element (for citing)
Total	$18,823	TotalAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$50,944	TotalAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$390,213	TotalAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$338,466	TotalAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$538,868	TotalAmt

Information Technology InformationTechnologyGrp

Field	Value	IRS element (for citing)
Total	$124,085	TotalAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$296,938	TotalAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$13,675	TotalAmt

Conferences Meetings ConferencesMeetingsGrp

Field	Value	IRS element (for citing)
Total	$7,466	TotalAmt

Interest InterestGrp

Field	Value	IRS element (for citing)
Total	$940,350	TotalAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$230,891	TotalAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$90,213	TotalAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt
DATA PROCESSING	$762,703
BAD DEBTS	$293,391
OUTSIDE SERVICES	$267,481
CHECK & LOAN SERVICING	$126,981

All Other Expenses AllOtherExpensesGrp

Field	Value	IRS element (for citing)
Total	$230,836	TotalAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$8,128,624	TotalAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$2,783,085	BOYAmt
EOY	$3,736,886	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$43,763,333	BOYAmt
EOY	$59,578,477	EOYAmt

Receivables From Officers Etc ReceivablesFromOfficersEtcGrp

Field	Value	IRS element (for citing)
BOY	$2,782,302	BOYAmt
EOY	$3,117,302	EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

Field	Value	IRS element (for citing)
BOY	$55,619,244	BOYAmt
EOY	$55,657,556	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$388,594	BOYAmt
EOY	$392,400	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$8,770,414	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$2,878,658	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$5,430,753	BOYAmt
EOY	$5,891,756	EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

Field	Value	IRS element (for citing)
BOY	$25,000	BOYAmt
EOY	$25,000	EOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$1,434,909	BOYAmt
EOY	$1,570,422	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$112,227,220	BOYAmt
EOY	$129,969,799	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$1,305,569	BOYAmt
EOY	$1,868,117	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$90,212,238	BOYAmt
EOY	$106,823,001	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$91,517,807	BOYAmt
EOY	$108,691,118	EOYAmt

Field	Value	IRS element (for citing)
Org Does Not Follow FASB117	Yes (X)	OrgDoesNotFollowFASB117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

Field	Value	IRS element (for citing)
BOY	$20,709,413	BOYAmt
EOY	$21,278,681	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$20,709,413	BOYAmt
EOY	$21,278,681	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$112,227,220	BOYAmt
EOY	$129,969,799	EOYAmt

Field	Value	IRS element (for citing)
Reconcilation Revenue Expnss	$517,188	ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst	$52,080	NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets	$0	OtherChangesInNetAssetsAmt
Info In Schedule O Part XII	Yes (X)	InfoInScheduleOPartXIIInd
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	0	AccountantCompileOrReviewInd
FS Audited	0	FSAuditedInd
Federal Grant Audit Required	0	FederalGrantAuditRequiredInd

Schedule D IRS990ScheduleD

Land LandGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$1,311,512	OtherCostOrOtherBasisAmt
Book Value	$1,311,512	BookValueAmt

Buildings BuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$5,985,519	OtherCostOrOtherBasisAmt
Depreciation	$1,634,703	DepreciationAmt
Book Value	$4,350,816	BookValueAmt

Equipment EquipmentGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$1,473,383	OtherCostOrOtherBasisAmt
Depreciation	$1,243,955	DepreciationAmt
Book Value	$229,428	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$5,891,756	TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

Field	Value	IRS element (for citing)
Desc	MEMBER DEPOSITS	Desc
Amt	$106,823,001	Amt

Field	Value	IRS element (for citing)
Total Liability	$106,823,001	TotalLiabilityAmt

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Substantiation Required	Yes (1)	SubstantiationRequiredInd
Independent Consultant	Yes (X)	IndependentConsultantInd
Written Employment Contract	Yes (X)	WrittenEmploymentContractInd
Board Or Committee Approval	Yes (X)	BoardOrCommitteeApprovalInd
Severance Payment	0	SeverancePaymentInd
Supplemental Nonqual Rtr Plan	0	SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm	0	EquityBasedCompArrngmInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (3 entries)

TitleTitleTxt	Base Compensation Filing OrgBaseCompensationFilingOrgAmt	Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt	Bonus Filing OrganizationBonusFilingOrganizationAmount	Bonus Related OrganizationsBonusRelatedOrganizationsAmt	Other Compensation Filing OrgOtherCompensationFilingOrgAmt	Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt	Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt	Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt	Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt	Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt	Total Compensation Filing OrgTotalCompensationFilingOrgAmt	Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt	Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt	Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
MITZI TATE
PRESIDENT/CEO	$217,815	$0	$48,397	$0	$25,381	$0	$19,541	$0	$10,895	$0	$322,029	$0	$0	$0
KAREN ROOT
EXECUTIVE VICE PRESIDENT	$146,816	$0	$21,174	$0	$13,693	$0	$13,415	$0	$6,020	$0	$201,118	$0	$0	$0
SUSAN BOSHART
EXECUTIVE VICE PRESIDENT	$149,441	$0	$21,584	$0	$8,074	$0	$13,654	$0	$6,020	$0	$198,773	$0	$0	$0

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	PART 1, LINE 1A	FormAndLineReferenceDesc
Explanation	THE CREDIT UNION REIMBURSES UP TO $425 FOR A TRAVEL COMPANION'S AIRLINE TICKET AND $150 FOR A TRAVEL COMPANION'S BAGGAGE. DUE TO COVID-19, TRAVEL AND CONFERENCES WERE CANCELLED FOR 2020.	ExplanationTxt

Schedule L IRS990ScheduleL

Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (56 entries)

Relationship With OrgRelationshipWithOrgTxt	Loan PurposeLoanPurposeTxt	Loan From OrganizationLoanFromOrganizationInd	Original PrincipalOriginalPrincipalAmt	Balance DueBalanceDueAmt	DefaultDefaultInd	Board Or Committee ApprovalBoardOrCommitteeApprovalInd	Written AgreementWrittenAgreementInd
MITZI TATE
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$72,000	$72,000	0	Yes (1)	Yes (1)
MITZI TATE
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$72,000	$72,000	0	Yes (1)	Yes (1)
MITZI TATE
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$72,000	$72,000	0	Yes (1)	Yes (1)
MITZI TATE
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$72,000	$72,000	0	Yes (1)	Yes (1)
MITZI TATE
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$72,000	$72,000	0	Yes (1)	Yes (1)
MITZI TATE
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$72,000	$72,000	0	Yes (1)	Yes (1)
MITZI TATE
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$72,000	$72,000	0	Yes (1)	Yes (1)
MITZI TATE
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$72,000	$72,000	0	Yes (1)	Yes (1)
MITZI TATE
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$72,000	$72,000	0	Yes (1)	Yes (1)
MITZI TATE
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$72,000	$72,000	0	Yes (1)	Yes (1)
MITZI TATE
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$250,000	$250,000	0	Yes (1)	Yes (1)
MITZI TATE
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$250,000	$250,000	0	Yes (1)	Yes (1)
KAREN ROOT
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$75,000	$75,000	0	Yes (1)	Yes (1)
KAREN ROOT
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$75,000	$75,000	0	Yes (1)	Yes (1)
KAREN ROOT
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$75,000	$75,000	0	Yes (1)	Yes (1)
KAREN ROOT
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$75,000	$75,000	0	Yes (1)	Yes (1)
KAREN ROOT
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$75,000	$75,000	0	Yes (1)	Yes (1)
KAREN ROOT
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$75,000	$75,000	0	Yes (1)	Yes (1)
KAREN ROOT
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$75,000	$75,000	0	Yes (1)	Yes (1)
KAREN ROOT
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$75,000	$75,000	0	Yes (1)	Yes (1)
KAREN ROOT
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$75,000	$75,000	0	Yes (1)	Yes (1)
KAREN ROOT
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$75,000	$75,000	0	Yes (1)	Yes (1)
SUSAN BOSHART
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$24,000	$24,000	0	Yes (1)	Yes (1)
SUSAN BOSHART
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$23,598	$23,598	0	Yes (1)	Yes (1)
SUSAN BOSHART
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$23,598	$23,598	0	Yes (1)	Yes (1)
SUSAN BOSHART
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$23,598	$23,598	0	Yes (1)	Yes (1)
SUSAN BOSHART
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$23,597	$23,597	0	Yes (1)	Yes (1)
SUSAN BOSHART
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$23,597	$23,597	0	Yes (1)	Yes (1)
SUSAN BOSHART
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$23,597	$23,597	0	Yes (1)	Yes (1)
SUSAN BOSHART
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$23,598	$23,598	0	Yes (1)	Yes (1)
SUSAN BOSHART
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$23,598	$23,598	0	Yes (1)	Yes (1)
SUSAN BOSHART
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$23,598	$23,598	0	Yes (1)	Yes (1)
SUSAN BOSHART
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$85,000	$85,000	0	Yes (1)	Yes (1)
SUSAN BOSHART
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$85,000	$85,000	0	Yes (1)	Yes (1)
MALEIGH HALFORD
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$26,000	$26,000	0	Yes (1)	Yes (1)
MALEIGH HALFORD
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$26,000	$26,000	0	Yes (1)	Yes (1)
MALEIGH HALFORD
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$26,000	$26,000	0	Yes (1)	Yes (1)
MALEIGH HALFORD
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$26,000	$26,000	0	Yes (1)	Yes (1)
MALEIGH HALFORD
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$25,321	$25,321	0	Yes (1)	Yes (1)
MALEIGH HALFORD
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$25,321	$25,321	0	Yes (1)	Yes (1)
MALEIGH HALFORD
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$25,320	$25,320	0	Yes (1)	Yes (1)
MALEIGH HALFORD
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$25,320	$25,320	0	Yes (1)	Yes (1)
MALEIGH COFFEY
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$25,320	$25,320	0	Yes (1)	Yes (1)
MALEIGH COFFEY
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$25,321	$25,321	0	Yes (1)	Yes (1)
LADONNA JACOBS
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$15,000	$15,000	0	Yes (1)	Yes (1)
LADONNA JACOBS
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$15,000	$15,000	0	Yes (1)	Yes (1)
LADONNA JACOBS
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$15,000	$15,000	0	Yes (1)	Yes (1)
LADONNA JACOBS
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$15,000	$15,000	0	Yes (1)	Yes (1)
LADONNA JACOBS
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$15,000	$15,000	0	Yes (1)	Yes (1)
LADONNA JACOBS
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$15,000	$15,000	0	Yes (1)	Yes (1)
LADONNA JACOBS
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$15,000	$15,000	0	Yes (1)	Yes (1)
LADONNA JACOBS
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$15,000	$15,000	0	Yes (1)	Yes (1)
LADONNA JACOBS
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$15,000	$15,000	0	Yes (1)	Yes (1)
LADONNA JACOBS
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$15,000	$15,000	0	Yes (1)	Yes (1)
MITZI TATE
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$250,000	$250,000	0	Yes (1)	Yes (1)
SUSAN BOSHART
OFFICER	COLLATERAL ASSIGNMENT SPLIT DOLLAR INSURANCE	Yes (X)	$85,000	$85,000	0	Yes (1)	Yes (1)

Field	Value	IRS element (for citing)
Total Balance Due	$3,117,302	TotalBalanceDueAmt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (10 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 6	MEMBERS EXCHANGE CREDIT UNION IS A NON-PROFIT FINANCIAL INSTITUTION THAT IS OWNED AND OPERATED BY ITS MEMBERS. MEMBERSHIP IS OPEN TO PERSONS WHO LIVE, WORK, WORSHIP, VOLUNTEER OR ATTEND SCHOOL IN COPIAH, HINDS, MADISON, RANKIN, OR SIMPSON COUNTIES IN MISSISSIPPI. IMMEDIATE FAMILY OF THE CREDIT UNION'S MEMBERS AND THE BUSINESSES AND OTHER LEGAL ENTITIES OF MEMBERS ARE ALSO ELIGIBLE TO BECOME MEMBERS.
FORM 990, PART VI, SECTION A, LINE 7A	THE CREDIT UNION WILL CALL FOR NOMINEES FROM THE MEMBERSHIP IN THE CREDIT UNION'S 2ND QUARTER NEWSLETTER AFTER THE CURRENT YEAR'S ANNUAL MEETING. ANYONE INTERESTED IN SERVING WILL SUBMIT A BRIEF BIOGRAPHY DETAILING WHY HE/SHE WOULD LIKE TO SERVE ON THE BOARD. APPROXIMATELY NINETY DAYS PRIOR TO EACH ANNUAL MEETING, THE CHAIRMAN OF THE BOARD OF DIRECTORS APPOINTS A NOMINATING COMMITTEE OF THREE OR MORE MEMBERS THAT ARE NOT CURRENTLY UP FOR RE-ELECTION. IT IS THE DUTY OF THE NOMINATING COMMITTEE TO REVIEW THE SUBMISSIONS AND DETERMINE ELIGIBILITY. THEY WILL THEN NOMINATE AT LEAST ONE MEMBER FOR EACH BOARD VACANCY, INCLUDING ANY UNEXPIRED TERM VACANCY, FOR WHICH THE ELECTIONS ARE BEING HELD. THE NOMINATING COMMITTEE WILL THEN PUBLISH THE NOMINEES IN THE 4TH QUARTER NEWSLETTER, AND IN FEBRUARY, BALLOTS LISTING THE NOMINEES WILL BE DELIVERED TO THE MEMBERS. ONCE RETURNED, ALL VOTES WILL BE DETERMINED BY PLURALITY VOTE, AND SHALL BE BY BALLOT EXCEPT WHERE THERE IS ONLY ONE NOMINEE FOR THE OFFICE. ELECTIONS MAY BE BY SEPARATE BALLOTS FOLLOWING THE SAME ORDER AS THE ABOVE NOMINATIONS OR, IF PREFERRED, MAY BE ONE BALLOT FOR ALL OFFICES.
FORM 990, PART VI, SECTION A, LINE 7B	MEMBERS TAKE PART IN THE VOTING PROCESS FOR DIRECTORS SERVING ON THE GOVERNING BODY.
FORM 990, PART VI, SECTION B, LINE 11B	UPON COMPLETION OF MEMBERS EXCHANGE CREDIT UNION'S FORM 990, THE RETURN IS PRESENTED TO THE BOARD AT A BOARD OF DIRECTORS MEETING. AT THE MEETING, THE BOARD MEMBERS REVIEW THE TAX RETURN AND ARE FREE TO ASK ANY QUESTIONS OR ENGAGE IN DISCUSSION REGARDING ANY TOPIC COVERED IN THE RETURN. ONCE THE GOVERNING BODY HAS REVIEWED AND APPROVED THE FORM 990, THE RETURN IS FILED WITH THE INTERNAL REVENUE SERVICE.
FORM 990, PART VI, SECTION B, LINE 12C	THE STAFF AND BOARD AT MEMBERS EXCHANGE CREDIT UNION REVIEW AND SIGN A CONFLICT OF INTEREST FORM ON A YEARLY BASIS.
FORM 990, PART VI, SECTION B, LINE 15	COMPENSATION FOR OFFICERS, EMPLOYEES AND TOP MANAGEMENT OFFICIALS IS DETERMINED ON A YEARLY BASIS. MEMBERS EXCHANGE CREDIT UNION CONTRACTS WITH A COMPENSATION AND PERFORMANCE CONSULTING FIRM AS PART OF THE PROCESS FOR DETERMINING COMPENSATION. THE CONSULTING FIRM PROVIDES THE CREDIT UNION WITH PERFORMANCE AND COMPENSATION SOFTWARE WHICH IS USED TO OBTAIN INFORMATION REGARDING SALARY RANGES FOR VARIOUS POSITIONS. THE SOFTWARE CONTAINS SALARY RANGE DATA OF SIMILAR INSTITUTIONS OF SIMILAR SIZE AND LOCATION. FROM THIS DATA, THE CREDIT UNION'S SALARY RANGES ARE UPDATED FOR THE CURRENT YEAR. ONCE UPDATED, THE RANGES ARE SUBMITTED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL. THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS PERFORMS THE PRESIDENT/CEO'S PERFORMANCE EVALUATION ANNUALLY. THEY REPORT TO THE ENTIRE BOARD OF DIRECTORS, WHO THEN VOTE ON A MERIT INCREASE PERCENTAGE. THE PRESIDENT/CEO IS THEN RESPONSIBLE FOR OVERSEEING ALL OTHER EMPLOYEE EVALUATIONS AND ANNUAL MERIT INCREASES.
FORM 990, PART VI, SECTION C, LINE 19	MEMBERS EXCHANGE CREDIT UNION MAKES AVAILABLE ITS FINANCIAL STATEMENTS VIA THE NCUA WEBSITE WHICH CAN BE FOUND AT WWW.NCUA.GOV. OTHER DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
FORM 990, PART XII, LINE 2:	THE FINANCIAL STATEMENTS AND DATA OF MEMBERS EXCHANGE CREDIT UNION ARE EXAMINED EVERY 18 MONTHS BY THE MISSISSIPPI STATE DEPARTMENT OF BANKING AND CONSUMER FINANCE AS WELL AS THE NATIONAL CREDIT UNION ASSOCIATION. THESE ORGANIZATIONS EXAMINE THE CREDIT UNION'S FINANCIAL DATA THROUGH ACCESS TO VARIOUS FINANCIAL REPORTS AND INFORMATION. IN ADDITION TO THESE EXAMINATIONS, MEMBERS EXCHANGE CREDIT UNION ENGAGES AN INDEPENDENT ACCOUNTING FIRM TO PERFORM QUARTERLY SUPERVISORY COMMITTEE AUDITS. THE ACCOUNTING FIRM ALSO PERFORMS ANNUAL AGREED UPON PROCEDURES ON THE CREDIT UNION'S FINANCIAL STATEMENTS. THESE PROCEDURES ARE NOT SUFFICIENT TO EXPRESS AN OPINION.
SECTION 1.263(A)-1(F) DE MINIMIS SAFE HARBOR ELECTION	MEMBERS EXCHANGE CREDIT UNION PO BOX 31049 JACKSON, MS 39286-1049 EMPLOYER IDENTIFICATION NUMBER: 64-0344965 FOR THE YEAR ENDING DECEMBER 31, 2020 MEMBERS EXCHANGE CREDIT UNION IS MAKING THE DE MINIMIS SAFE HARBOR ELECTION UNDER REG. SEC. 1.263(A)-1(F).
SECTION 1.263(A)-3(N) ELECTION	MEMBERS EXCHANGE CREDIT UNION PO BOX 31049 JACKSON, MS 39286-1049 EMPLOYER IDENTIFICATION NUMBER: 64-0344965 FOR THE YEAR ENDING DECEMBER 31, 2020 MEMBERS EXCHANGE CREDIT UNION IS MAKING THE ELECTION TO CAPITALIZE REPAIR AND MAINTENANCE COSTS UNDER REG. SEC. 1.263(A)-3(N).