2021-11-15T17:41:56-06:00 2020-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2020-01-01 741109882 TEXELL CREDIT UNION TEXE 2547731604 PO BOX 983 TEMPLE TX 76503 TONY HALE PRESIDENT/CEO 2547731604 2021-11-14 TONY HALE 999009999 DOUGLAS J ORTH P01076394 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z TONY HALE PO BOX 983 TEMPLE TX 76503 30180870 0 X WWW.TEXELL.ORG X 1948 TX COOPERATIVE, MEMBER-OWNED PROVIDER OF FINANCIAL SERVICES FOR OUR MEMBERS. 7 7 211 9 251929 0 0 0 29317550 29796141 728449 384729 0 0 30045999 30180870 0 0 0 0 9152190 9793019 0 0 0 16655790 16058209 25807980 25851228 4238019 4329642 406684593 471610622 362652773 423243513 44031820 48367109 COOPERATIVE, MEMBER-OWNED PROVIDER OF FINANCIAL SERVICES FOR OUR MEMBERS. 0 0 PROVIDE CHECKING ACCOUNTS WITH VARYING FEATURES AND ASSOCIATED SERVICES TO OUR MEMBERS. PROVIDE CONSUMER LOANS OF ALL TYPES AND RELATED SERVICES TO OUR MEMBERS PROVIDE SHARE SAVINGS ACCOUNTS WHICH PAY MONTHLY DIVIDENDS TO OUR MEMBERS 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 7017 0 1 211 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 0 1 1 0 0 1 1 1 0 X TONY HALE 2547731604 17 S 1ST STREET TEMPLE TX 76501 DAN BOWEN BOD MEMBER 1.00 X 1560 0 0 WILLIAM CORNELIUS BOD CHAIR 1.00 X 2100 0 0 KENNETH GABY BOD V. CHAIR 1.00 X 1500 0 0 CHRIS MOORE BOD MEMBER 1.00 X 1500 0 0 DANIEL MARESH BOD TREASURER 1.00 X 1800 0 0 JOE PALMER BOD MEMBER 1.00 X 1800 0 0 SUE MICMILLIN BOD MEMBER 1.00 X 1800 0 0 TONY HALE PRESIDENT/CEO 40.00 X 455135 0 432616 AMY MERRIMAN COO 40.00 X 219556 0 34568 LYLE MIYAMURA CFO 40.00 X 177847 0 11453 ANTHONY RODGERS GENERAL COUNSEL 40.00 X 192734 0 20876 RICHARD SILVERS VP TECHNOLOGY INNOVATION 40.00 X 180541 0 24532 MARY ANN NICKOLAI VP MARKETING 40.00 X 158116 0 11118 AMBER SPEER DIRECTOR OF OPERATIONS 40.00 X 112805 0 15740 GALEN BURKE DIRECTOR OF RETAIL 40.00 X 105500 0 19707 MICHAEL GONZALEZ LENDING CONSULTANT 40.00 X 117540 0 13835 NERI NAVARRO AREA DIRECTOR OF RETAIL 40.00 X 102736 0 26728 1834570 0 611173 10 0 1 0 JACK HENRY AND ASSOCIATES INC PO BOX 609 MONETT MO 65708 CORE SYSTEM PROVIDER 513592 LAMAR 444 BUNKER RD WEST PALM BEACH FL 33405 MARKETING 354526 LANERVA LTD 112 WRANGLER DRIVE SUITE 150 COPPELL TX 75019 MASS MAIL PROVIDER 232777 AMPLIFI LOYALTY SOLUTIONS 1620 BOND STREET NAPERVILLE IL 60563 CARD SERVICES 196857 ACCESS SOFTEK INC 727 ALLSTON WAY BERKELEY CA 947102229 DIGITAL BANKING 191432 12 INCOME ON LOANS 522100 16897459 16897459 FEES/CHARGES/OTHER 522299 12646753 12646753 FINANCE & INSURANCE 520000 251929 251929 29796141 384729 384729 30180870 29928941 251929 0 X 1931152 6209034 289707 783988 579138 66016 106750 83225 551806 878184 1013985 633364 1586694 26288 51717 3325422 64956 646023 108130 PROVISION FOR LOAN LOSS 2922370 ATM, DEBIT & CREDIT CAR 2825364 LOAN SERVICING 765146 MISCELLANEOUS EXPENSE 402769 25851228 4212819 5088314 35528666 65320335 2475450 2640606 1454075 1454075 332730622 363293958 623184 604164 22967651 9478795 11992372 13488856 11430747 11631413 174900 163300 6061758 7925601 406684593 471610622 8906955 9824759 353745818 413418754 362652773 423243513 X 0 0 0 0 44031820 48367109 44031820 48367109 406684593 471610622 4329642 5647 0 X X 0 1 X 1 0 6277109 6277109 9542081 3990912 5551169 913708 556292 357416 6234753 4931591 1303162 13488856 REGULAR CHECKING AND SHARES 207884191 MONEY MARKET 52217793 OVERDRAFT SHARES 106657 IRA SHARES 4310915 IRA CERTIFICATES 16500655 ORGANIZATIONAL SHARES 5736323 CERTIFICATES 126662220 413418754 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. THE INCOME TAXES TOPIC OF THE FASB ACCOUNTING STANDARDS CODIFICATION (ASC) CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY UPON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED IN IRC SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (UBI) DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE (IRS) RELEASED TECHNICAL ADVICE MEMORANDUMS (TAMS) TO SPECIFIC STATE-CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). UBI MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. MANAGEMENT HAS ASSESSED THE CREDIT UNION'S ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY AND DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2018, 2017, AND 2016 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS. THE FILING YEARS OPEN FOR EXAMINATION BY THE STATE, IF APPLICABLE, MAY BE EQUAL TO, GREATER THAN OR LESS THAN THE YEARS OPEN FOR EXAMINATION BY THE IRS. X X X 0 1 0 TONY HALE PRESIDENT/CEO 363153 0 91982 0 0 0 418384 0 14232 0 887751 0 0 0 AMY MERRIMAN COO 176296 0 43260 0 0 0 13682 0 20886 0 254124 0 0 0 ANTHONY RODGERS GENERAL COUNSEL 156338 0 36396 0 0 0 11734 0 9142 0 213610 0 0 0 RICHARD SILVERS VP TECHNOLOGY INNOVATION 153113 0 27428 0 0 0 10300 0 14232 0 205073 0 0 0 LYLE MIYAMURA CFO 177847 0 0 0 0 0 1717 0 9736 0 189300 0 0 0 MARY ANN NICKOLAI VP MARKETING 133683 0 24433 0 0 0 6518 0 4600 0 169234 0 0 0 PART I, LINE 4B THE CREDIT UNION'S CEO, TONY HALE, PARTICIPATES IN AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." ALTHOUGH THE IRS REQUIRES REPORTING IN PART II OF SCHEDULE L AS A LOAN TO AN INTERESTED PARTY, THIS IS NOT AN ACTUAL LOAN. THERE IS NO TRANSFER OF FUNDS TO THE PARTICIPANT NOR AN OBLIGATION TO REPAY THE FUNDS. INSTEAD THE CREDIT UNION RECOVERS ANY OUTLAYS, PLUS INTEREST, FROM THE UNDERLYING POLICY. THAT IS, THE CREDIT UNION DEPOSITS FUNDS DIRECTLY INTO A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANT MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S OUTLAYS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. THE CREDIT UNION'S CEO PARTICIPATES IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN. THE CREDIT UNION ACCRUED $399,653 TOWARD THE BENEFIT LIABILITY DURING 2020. TONY HALE PRESIDENT/CEO SPLIT DOLLAR LIFE INSURANCE X 1450000 1454075 0 1 1 1454075 SCHEDULE L, PART II THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." ALTHOUGH THE IRS REQUIRES REPORTING IN PART II AS A LOAN TO AN INTERESTED PARTY, THIS IS NOT AN ACTUAL LOAN. THERE IS NO TRANSFER OF FUNDS TO THE PARTICIPANT NOR AN OBLIGATION TO REPAY THE FUNDS. INSTEAD THE CREDIT UNION RECOVERS ANY OUTLAYS, PLUS INTEREST, FROM THE UNDERLYING POLICY. THAT IS, THE CREDIT UNION DEPOSITS FUNDS DIRECTLY INTO A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANT MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S OUTLAYS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS. 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 IF MEMBERS OF THE GOVERNING BODY AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF THE CREDIT UNION'S MEMBERS AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS COMPILED BY A THIRD PARTY CPA FIRM AND REVIEWED BY MANAGEMENT PRIOR TO FILING. THE FORM 990 IS SHARED WITH THE BOARD OF DIRECTORS SUBSEQUENT TO FILING. FORM 990, PART VI, SECTION B, LINE 12 THE REVIEW OF THE CEO'S COMPENSATION IS A FUNCTION OF THE BOARD OF DIRECTORS. ANNUALLY, THE BOARD REVIEWS THE PERFORMANCE OF THE CEO AND USES AN EXECUTIVE COMPENSATION SURVEY AS A GUIDE FOR SETTING CEO COMPENSATION RELATIVE TO JOB PERFORMANCE. THE ORGANIZATION USES A THIRD-PARTY TO EVALUATE AND SET APPROPRIATE RANGES FOR ALL OTHER POSITIONS BASED ON REGIONAL MARKET DATA. THE BOARD APPROVES THE ENTIRE PAYROLL BUDGET. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION USES A THIRD PARTY TO EVALUATE AND SET APPROPRIATE PAY RANGES FOR ALL POSITIONS BASED ON REGIONAL MARKET DATA. THE BOARD APPROVES THE ENTIRE PAYROLL BUDGET. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE UPON REQUEST. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON NCUA.GOV VIA THE QUARTERLY 5300 FILING. FORM 990, PART IX, LINE 11G OTHER 551,806. FORM 990, PART XII, LINE 2C: THE BOARD OF DIRECTORS IS RESPONSIBLE FOR THE OVERSIGHT OF THE OPINION AUDIT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. TEXELL FINANCIAL 17 S 1ST STREET TEMPLE TX 76503 812423777 INSURANCE TX TEXELL CREDIT UNION C 417878 201502 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 TEXELL FINANCIAL M 417878 ACTUAL FEES CHARGED