2021-05-14T10:38:17-05:00 2020-12-31 350921680 CROWE LLP 9600 Brownsboro Road Suite 400 Louisville KY 402411122 990 2020-01-01 350978599 Crane Credit Union CRAN 8128637115 1 W Gate Drive Odon IN 47562 Tim Lukomski CFO 2021-05-14 true Tim Lukomski 999009999 Kim Scifres P01316095 5023263996 2020 2022-09-23 18:48:47Z Kevin Sparks 1 W Gate Drive Odon IN 47562 60267682 false X WWW.CRANECU.ORG X 1955 IN PROMOTE THRIFT, PROVIDE CREDIT AT COMPETITIVE RATES, AND PROVIDE FINANCIAL SERVICES TO MEMBERS. 10 10 199 0 224808 37822 0 0 29167951 28612241 2232452 3210940 445889 425566 31846292 32248747 11000 13200 0 0 8470911 8999020 0 0 0 16512366 16851508 24994277 25863728 6852015 6385019 618553934 853062698 530832248 756909887 87721686 96152811 COOPERATIVELY PROMOTE MEMBER THRIFT BY PROVIDING FINANCIAL SERVICES AND BENEFITS FOR OUR MEMBERSHIP. false false DURING THE YEAR THE CREDIT UNION GRANTED 13,221 LOANS TOTALING $245,803,644. IN ADDITION, 7,507 NEW MEMBERSHIPS WERE OPENED. OVERALL THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO OVER 57,200 MEMBERS. Effective November 30, 2020, the Credit Union acquired 100 percent of the assets and liabilities of Community State Bank of Southwestern Indiana (Community State Bank). The acquisition adds locations in the Indiana cities of Cynthiana, Mt. Vernon, Poseyville and Evansville as well as financial institution expertise, which will allow Crane Credit Union to better serve the financial needs of its current members. 0 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 8155 0 true 199 true true true false false false false false false false X 10 10 false false false false true true true true true false true true true true true true true true true false false X TIM LUKOMSKI 8128637000 1 W GATE DRIVE ODON IN 47562 BRUCE W CUMMINGS TREASURER 4.0 X X 17850 0 0 DALE L PADGETT JR VICE CHAIRMAN 4.0 X X 19950 0 0 DAVID H FRYE SECRETARY 4.0 X X 15950 0 0 GARY E GRAY JR CHAIRMAN 4.0 X X 17850 0 0 DOUGLAS R RANARD SUPERVISORY 4.0 X 22400 0 0 JEFFREY L SCHAFER DIRECTOR 4.0 X 17950 0 0 JOHN D PREBLE SUPERVISORY 4.0 X 9700 0 0 KENNETH R GREENWELL DIRECTOR 4.0 X 16550 0 0 PATRICIA HERNDON DIRECTOR 4.0 X 16850 0 0 QUENTIN D HAYS SUPERVISORY 4.0 X 19830 0 0 GARY MICHEL WIGGINGTON VP IT 40.0 X 96390 0 36411 KEVIN SPARKS CHIEF EXECUTIVE OFFICER, PRESIDENT 40.0 X 211257 0 30121 TIM LUKOMSKI CHIEF FINANCIAL OFFICER 40.0 X 127956 0 40856 BRYAN MYERS COO 40.0 X 126343 0 39681 GREG BATEMAN VP of HR 40.0 X 100378 0 25190 837204 0 172259 4 false true false ELECTRONIC STRATEGIES INC 8050 CASTLEWAY DR INDIANAPOLIS IN 46250 IT CONSULTING 788712 JACK HENRY AND ASSOCIATES 663 W HIGHWAY 60 MONETT MO 65708 CORE BANKING SYSTEM 650813 QSI 107 Schuler Dr Bardstown KY 40004 ATM 405996 ACCESS SOFTEK 727 ALSTON WAY Berkley CA 94710 ELECTRONIC BANKING 283828 PERFORMANCE TRUST CAPITAL PARTNERS LLC 500 W MADISON ST SUITE 500 Chicago IL 60661 INVESTMENT BANKING, BROKERAGE AND ALM SERVICES 283378 18 0 INTEREST ON LOANS 522130 22193148 22193148 INTERCHANGE ON INCOME 522130 4162825 4162825 SERVICE CHARGES & FEES 522130 1202694 1105395 97299 LOAN FEES AND CHARGES 522130 562126 562126 OTHER NON-INTEREST INCOME 522130 491448 466725 24723 0 0 0 0 28612241 1895127 -2 1895129 80998 54801 26197 0 26197 26197 28739569 540378 27341362 622772 1398207 -82394 1315813 1315813 LIFE INSURANCE CSV 522100 296581 296581 SHARED BRANCHING 522130 102788 102788 0 0 0 0 399369 32248747 28786800 224808 3237139 13200 843373 5921501 412147 1333592 488407 449968 93042 1887142 776153 449222 143392 1292210 65681 3384147 1924618 166596 LOAN SERVICING EXPENSE 2127835 DATA PROCESSING FEES 1931917 PROVISION FOR LOAN LOSS 1066080 EDUCATION AND PROMOTION 500579 592926 25863728 5627129 7977958 50737060 115705111 1352135 1920832 204165 159433 218646 630757 0 465731256 525412436 431712 540970 29725434 17569806 9912430 12155628 66124218 161808588 0 0 0 4650545 18215183 22100440 618553934 853062698 3201481 4484498 600085 807677 0 0 19000000 32000000 508030682 719617712 530832248 756909887 X 87721686 96152811 87721686 96152811 618553934 853062698 6385019 2046106 0 X false true X true false false true X 2639521 2639521 14807496 7797170 7010326 320186 320186 0 11958231 9452450 2505781 12155628 MEMBERS' SHARES 719617712 719617712 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 FIN 48 (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, 2020 and 2019. true 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 CHIEF EXECUTIVE OFFICER, PRESIDENT 190705 0 20000 0 552 0 29143 0 978 0 241378 0 0 0 TIM LUKOMSKI CHIEF FINANCIAL OFFICER 120165 0 7551 0 240 0 19294 0 21562 0 168812 0 0 0 BRYAN MYERS COO 118510 0 7600 0 233 0 24751 0 14930 0 166024 0 0 0 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 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 2020 ARE AS FOLLOWS: KEVIN SPARKS, PRESIDENT - $16,007 TIM LUKOMSKI, CFO - $10,408 Bryan Myers, COO - $14,262 Gary Michel Wiggington, VP IT - $6,340 Greg Bateman, VP of HR - $9,000 TIM LUKOMSKI CFO PRIMARY RESIDENCE X 160800 149300 false false true TIM LUKOMSKI CFO RV X 56307 48992 false false true TIM LUKOMSKI CFO HOME EQUITY X 5000 4947 false false true TIM LUKOMSKI CFO personal loan X 7000 5552 false false true Bryan Myers COO Primary Residence X 132450 124881 false false true Mike Wiggington VP of IT Auto X 2800 450 false false true Mike Wiggington VP of IT Primary Residence X 170000 142134 false false true Mike Wiggington VP of IT Home Equity X 30000 8750 false false true Mike Wiggington VP of IT Auto X 61000 61000 false false true Greg Batemen VP of HR Auto X 28151 20559 false false true Greg Batemen VP of HR Auto X 29816 28069 false false true Greg Batemen VP of HR Home Equity X 15000 5357 false false true Jeffrey Schafer Board Member Auto X 25000 14086 false false true Jeffrey Schafer Board Member Home Equity X 95409 16680 false false true 630757 Form 990, Part VI, Line 15b PROCESS TO ESTABLISH COMPENSATION OF OTHER EMPLOYEES The President/CEO determines the compensation of the other employee(s) of the organization. Compensation is reviewed annually. Form 990, Part VI, Line 8b AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY 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 6 Classes of members or stockholders THE CREDIT UNION HAS MEMBERS. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body EACH MEMBER IS ENTITLED TO ONE VOTE ON ALL MATTERS BROUGHT TO VOTE AT THE ANNUAL MEETING. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders MEMBERSHIP VOTE IS REQUIRED FOR MERGERS AND CHARTER CONVERSIONS. Form 990, Part VI, Line 11b Review of form 990 by governing body 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 Conflict of interest policy 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 Process to establish compensation of top management official 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 19 Required documents available to the public 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 SERVICES AND TITLE WORK IN 0 0 CRANE CREDIT UNION CRANE FCU PROPERTIES 1 W GATE DRIVE ODON IN 47562 271537278 PROPERTY MANAGEMENT IN 0 0 CRANE CREDIT UNION