2020-05-19T13:00:57-05:00 2019-12-31 350921680 CROWE LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2019-01-01 350978599 Crane Credit Union CRAN 8128637115 1 W GATE DRIVE ODON IN 47562 KEVIN SPARKS CEO 2020-05-19 true Nicole Bencik P00756195 3128997000 2019 2020-11-19 02:30:22Z KEVIN SPARKS 1 W GATE DRIVE ODON IN 47562 55296469 false X WWW.CRANECU.ORG X 1955 IN PROMOTE THRIFT, PROVIDE CREDIT AT COMPETITIVE RATES, AND PROVIDE FINANCIAL SERVICES TO MEMBERS. 7 7 177 0 234434 29451 0 0 25675811 29167951 2447478 2232452 430511 445889 28553800 31846292 11000 11000 0 0 8434247 8470911 0 0 0 13744632 16512366 22189879 24994277 6363921 6852015 587731675 618553934 507558334 530832248 80173341 87721686 COOPERATIVELY PROMOTE MEMBER THRIFT BY PROVIDING FINANCIAL SERVICES AND BENEFITS FOR OUR MEMBERSHIP. false false DURING THE YEAR THE CREDIT UNION GRANTED 14,377 LOANS TOTALING $199,703,029. IN ADDITION, 6,233 NEW MEMBERSHIPS WERE OPENED. OVERALL THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO OVER 52,800 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 8553 0 true 177 true true true false false false false false false false X 7 7 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 DALE L PADGETT JR VICE CHAIRMAN 4.0 X X 21725 0 0 GARY E GRAY JR CHAIRMAN 4.0 X X 20275 0 0 BRUCE W CUMMINGS TREASURER 4.0 X X 19425 0 0 DAVID H FRYE SECRETARY 4.0 X X 18350 0 0 KENNETH R GREENWELL DIRECTOR 4.0 X 22075 0 0 JEFFREY L SCHAFER DIRECTOR 4.0 X 19950 0 0 PATRICIA HERNDON DIRECTOR 4.0 X 16250 0 0 KEVIN SPARKS CHIEF EXECUTIVE OFFICER, PRESIDENT 40.0 X 206922 0 51503 TIM LUKOMSKI CHIEF FINANCIAL OFFICER 40.0 X 133047 0 50279 PAUL VOGLER CORPORATE ATTORNEY 40.0 X 135374 0 10677 BRYAN MYERS COO 40.0 X 114523 0 41567 727916 0 154026 4 false true false DEI INCORPORATED 1550 Kemper Meadow Drive Cincinnati OH 45240 Building Design Services 570104 JACK HENRY AND ASSOCIATES 663 W HIGHWAY 60 MONETT MO 65708 CORE BANKING SYSTEM 374819 ACCESS SOFTEK 727 ALSTON WAY BERKELEY CA 94710 ELECTRONIC BANKING 262157 QSI 107 Schuler Dr Bardstown KY 40004 ATM 255146 WINDSTREAM 4001 N RODNEY PARHAM RD LITTLE ROCK AR 72212 COMMUNICATION PROVIDER 210323 9 0 INTEREST ON LOANS 522130 22733858 22733858 INTERCHANGE ON INCOME 522130 3975929 3975929 SERVICE CHARGES & FEES 522130 1480868 1394158 86710 OTHER NON-INTEREST INCOME 522130 591867 565705 26162 LOAN FEES AND CHARGES 522130 385429 385429 0 0 0 0 29167951 2377212 2377212 100659 49125 51534 0 51534 51534 21608681 1647611 21629424 1771628 -20743 -124017 -144760 -144760 LIFE INSURANCE CSV 522100 272793 272793 SHARED BRANCHING 522130 121562 121562 0 0 0 0 394355 31846292 29327872 234434 2283986 11000 579801 5805552 423425 1207004 455129 37169 101739 950860 0 0 0 798742 440298 144836 1386986 84298 4066404 1692209 211479 LOAN SERVICING EXPENSE 2028946 DATA PROCESSING FEES 1901973 PROVISION FOR LOAN LOSS 1132835 EDUCATION AND PROMOTION 741738 791854 0 0 0 24994277 0 0 0 4962843 5627129 27894538 50737060 1320380 1352135 394988 204165 0 0 351555 218646 448053419 465731256 586840 431712 25557618 15645188 9840601 9912430 72183413 66124218 0 0 22143098 18215183 587731675 618553934 3393707 3201481 546813 600085 0 0 43500000 19000000 460117814 508030682 507558334 530832248 X 80173341 87721686 80173341 87721686 587731675 618553934 6852015 696330 0 X false true X true false false true X 2493074 2493074 13123755 7268816 5854939 320186 320186 0 9620603 8056186 1564417 9912430 MEMBERS' SHARES 508030682 508030682 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 TAX 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, 2019 and 2018. true SCHOLARSHIPS 11 11000 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 false true false KEVIN SPARKS CHIEF EXECUTIVE OFFICER, PRESIDENT 173180 0 7000 0 26742 0 29392 0 22111 0 258425 0 26190 0 TIM LUKOMSKI CHIEF FINANCIAL OFFICER 111934 0 3956 0 17157 0 19675 0 30604 0 183326 0 16925 0 BRYAN MYERS COO 110558 0 3749 0 216 0 22671 0 18896 0 156090 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. Distributions from the plan for 2019 are as follows: KEVIN SPARKS, PRESIDENT - $26,190 TIM LUKOMSKI, CFO - $16,925 CONTRIBUTIONS TO THE PLAN FOR 2019 ARE AS FOLLOWS: KEVIN SPARKS, PRESIDENT - $14,349 TIM LUKOMSKI, CFO - $9,568 Bryan Myers, COO - $13,133 TIM LUKOMSKI CFO PRIMARY RESIDENCE X 160800 157217 false false true TIM LUKOMSKI CFO RV X 56307 52528 false false true TIM LUKOMSKI CFO HOME EQUITY X 5000 4999 false false true BRYAN MYERS COO AUTO X 30000 3902 false false true 218646 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 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 160031 0 CRANE CREDIT UNION CRANE FCU PROPERTIES 1 W GATE DRIVE ODON IN 47562 271537278 PROPERTY MANAGEMENT IN 0 0 CRANE CREDIT UNION