2020-11-12T10:28:18-07:00 2019-12-31 440160260 BKD LLP 201 N ILLINOIS ST Indianapolis IN 46204 990 2019-01-01 350779057 FORUM CREDIT UNION FORU 3175586000 PO BOX 50738 INDIANAPOLIS IN 46250 JEFFRY WELCH CFO 3175586000 2020-11-16 1 Michael Summers P00838533 3173834000 2020-11-16 64.22.227.161 2019 2021-04-22 16:20:28Z DOUGLAS TRUE PO BOX 50738 INDIANAPOLIS IN 46250 88303763 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 7 443 9 1379774 442596 0 0 71449542 78372743 2771340 3856925 2556506 1785544 76777388 84015212 150000 150000 0 0 26544017 27808945 0 0 0 39129749 46324774 65823766 74283719 10953622 9731493 1414390401 1488919520 1262098409 1326663402 152291992 162256118 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 $774 MILLION 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 $19 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. MOST PROMINENT IS THE SBA 504 PROGRAM WHICH IS DESIGNED TO HELP SMALL BUSINESS OWNERS PURCHASE REAL ESTATE FOR THEIR BUSINESS ACTIVITIES. FORUM CURRENTLY WORKS WITH OVER 3,350 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 117798 0 1 443 1 1 1 0 0 0 0 0 0 0 X 9 7 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 DOUGLAS TRUE CHIEF EXECUTIVE OFFICER 40 1 X 907626 0 156482 JENNIFER BUDREAU CHIEF OPERATING OFFICER 40 1 X 703154 0 83606 BENJAMEN BANKS FINANCIAL ADVISOR- PCG 40 0 X 353614 0 58434 JEFFRY WELCH CHIEF FINANCIAL OFFICER 40 1 X 250565 0 86193 CHARLES ANDREW MATTINGLY CHIEF OPERATING OFFICER 40 1 X 252891 0 83015 CAMERON PIERCEFIELD CHIEF TECHNOLOGY AND RISK OFFICER 40 1 X 248032 0 73403 MICHAEL PETERSON FORMER KEY EMPLOYEE 0 0 X 314808 0 0 MICHELLE ADRIAN MORTGAGE ORIGINATOR 40 0 X 296016 0 15240 JIM CARR VICE PRESIDENT- COMMERCIAL GROUP 40 0 X 233318 0 40508 TAMMY MARRS FINANCIAL ADVISOR- PCG 40 0 X 227843 0 43383 RUSSELL WAGONER MORTGAGE ORIGINATOR 40 0 X 207711 0 9540 JOHN DIERDORF CHAIRMAN (ENDED FEBRUARY 2019) 5 0 X 7500 0 0 JOHN GALLINA DIRECTOR 5 0 X 1297 0 0 JODEE CURTIS DIRECTOR 5 0 X 929 0 0 KELLY WILSON DIRECTOR 5 0 X 921 0 0 MAX FALL DIRECTOR 5 0 X 881 0 0 RICK RAMBO TREASURER 5 0 X X 880 0 0 LORI WINKLER DIRECTOR 5 0 X 843 0 0 KEVIN HUNT CHAIRMAN 5 0 X X 798 0 0 CHRIS HAGENOW SECRETARY 5 0 X X 798 0 0 TRACY MILLS VICE CHAIRMAN 5 0 X X 0 0 0 DONNA WILKINSON DIRECTOR 5 0 X 0 0 0 DOREEN LONG DIRECTOR 5 0 X 0 0 0 4010425 0 649804 46 1 1 0 AVTEX SOLUTIONS 3500 AMERICAN BLVD WEST STE 300 BLOOMINGTON MN 55431 TECHNOLOGY SERVICES 431428 BRADLEY COMPANY LLC PO BOX 540 SOUTH BEND IN 46624 PROPERTY MANAGEMENT 377413 CHURCH CHURCH HITTLE & ANTRIM TWO NORTH NINTH STREET NOBLESVILLE IN 46060 LEGAL SERVICES 330754 APPRAISERVENDORCOM LLC 3195 W FAIRVIEW RD SUITE A GREENWOOD IN 46142 APPRAISAL SERVICES 259650 OFFICE WORKS LLC 12000 EXIT FIVE PARKWAY FISHERS IN 46037 OFFICE EQUIPMENT PROVIDER 236337 15 0 INTEREST AND FEES ON LOANS 522130 56938651 56938651 0 0 SERVICE FEES ON SHARE ACCOUNT 522130 7699098 7609755 89343 0 DEBIT AND CREDT CARD FEES 522130 7803513 7803513 0 0 MORTGAGE BANKING 522130 5020730 5020730 0 0 INSURANCE 522130 910751 865761 44990 0 0 0 0 0 78372743 3817933 0 0 3817933 0 0 0 0 0 0 0 0 558222 0 730047 0 -171825 0 -171825 0 -271197 99372 0 3597496 0 3558504 0 38992 38992 38992 0 0 INVESTMENT ADVISORY SERVICES 523930 1516638 0 1516638 0 440731 440731 0 0 1957369 84015212 78718133 1379774 3917305 150000 2859814 19757783 844615 2781441 1565292 67815 223737 2339109 1090810 3143666 3800563 10355 578985 14543686 2700271 254628 PROVISION FOR LOAN LOSS 9821182 COLLECTIONS AND OTHER LOAN EXPENSES 5402283 CORRESPONDENT SERVICE EXPENSE 444370 INCOME TAX 372437 1530877 74283719 0 0 0 2742283 3920667 122195163 101980349 0 0 0 0 1207740470 1302842703 0 0 70952727 36988559 33494743 33964168 14003832 12877139 4910700 4910700 0 0 0 0 29303210 28423794 1414390401 1488919520 6421707 23045529 0 0 0 0 0 120236124 95000000 0 1135440578 1208617873 1262098409 1326663402 X 0 0 0 0 152291992 162256118 152291992 162256118 1414390401 1488919520 X 9731493 232633 0 0 0 0 X 0 1 X 1 0 6250 0 0 6250 6250 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 Schedule C, Part I-A, Line 1 FORUM CREDIT UNION CONTRIBUTED $5,000 TO THE INDIANA CREDIT UNION LEAGUE POLITICAL ACTION COMMITTEE AND $1,250 TO THE INDIANA BUSINESS FOR RESPONSIVE GOVERNMENT 0 7426758 7426758 0 37777019 19346472 18430547 0 2853536 1894131 959405 0 22604736 15747956 6856780 0 290678 0 290678 33964168 MEMBER SHARE ACCOUNTS 1092466873 NON-MEMBER DEPOSITS 116151000 1208617873 Schedule D, Part X, Line 1 MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITION UNDER GUIDANCE INCLUDED IN ASC 740. 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 SCHOLARSHIPS 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 GRANT AND SCHOLARSHIP DECISIONS. X 1 1 X X X 0 1 0 DOUGLAS TRUE CHIEF EXECUTIVE OFFICER 379069 0 95447 0 433111 0 30888 0 30148 0 968663 0 0 0 JEFFRY WELCH CHIEF FINANCIAL OFFICER 203698 0 42500 0 4367 0 11768 0 31924 0 294257 0 0 0 CHARLES ANDREW MATTINGLY CHIEF OPERATING OFFICER 207328 0 42500 0 3063 0 11722 0 28793 0 293406 0 0 0 JENNIFER BUDREAU CHIEF OPERATING OFFICER 214934 0 42500 0 445720 0 28393 0 12713 0 744260 0 0 0 CAMERON PIERCEFIELD CHIEF TECHNOLOGY AND RISK OFFICER 203120 0 42500 0 2412 0 19091 0 11812 0 278935 0 0 0 BENJAMEN BANKS FINANCIAL ADVISOR- PCG 353614 0 0 0 0 0 31600 0 26834 0 412048 0 0 0 MICHELLE ADRIAN MORTGAGE ORIGINATOR 296016 0 0 0 0 0 14087 0 1153 0 311256 0 0 0 JIM CARR VICE PRESIDENT- COMMERCIAL GROUP 229565 0 0 0 3754 0 10968 0 29540 0 273827 0 0 0 TAMMY MARRS FINANCIAL ADVISOR- PCG 227843 0 0 0 0 0 16739 0 26644 0 271226 0 0 0 RUSSELL WAGONER MORTGAGE ORIGINATOR 207711 0 0 0 0 0 9347 0 193 0 217251 0 0 0 MICHAEL PETERSON FORMER KEY EMPLOYEE 0 0 0 0 314808 0 0 0 0 0 314808 0 0 0 Schedule J, Part I, Line 1a KEVIN HUNT, CHAIRMAN; RICK RAMBO, TREASURER; JOHN DIERDORF, PRIOR CHAIRMAN; MAX FALL, DIRECTOR; CHRIS HAGENOW, DIRECTOR; JOHN GALLINA, DIRECTOR; JODEE CURTIS, DIRECTOR; KELLY WILSON, DIRECTOR; AND LORI WINKLER, DIRECTOR RECEIVED A BENEFIT FOR TRAVEL FOR COMPANIONS AND/OR CASH FOR TRAVEL. THE APPROPRIATE TAX FORMS ARE FILED BASED ON THE APPROPRIATE THRESHHOLDS. Schedule J, Part I, Line 4 DOUGLAS TRUE, JENNIFER BUDREAU, CHARLES MATTINGLY, AND JEFFRY WELCH PARTICIPATE IN A SEPARATE 457(F) DEFERRED COMPENSATION PLAN. THE ORGANIZATION MADE $0 CONTRIBUTIONS TO THE PLAN DURING THE YEAR. DISTRIBUTIONS FROM THE PLAN WERE $441,334 TO JENNIFER BUDREAU AND $430,000 TO DOUGLAS TRUE. THIS AMOUNT WAS INCLUDED IN THEIR OTHER REPORTABLE COMPENSATION ON SCHEDULE J, PART II AND INCLUDED ON THEIR W-2. KATHLEEN PIERCEFIELD SPOUSE OF KEY EMPLOYEE 90836 COMPENSATION OF EMPLOYEE 0 KELLI DIERDORF SPOUSE OF PRIOR CHAIRMAN 64527 COMPENSATION OF EMPLOYEE 0 SHIEL SEXTON COMPANY INC KEVIN HUNT (CHAIRMAN) 635569 GENERAL CONSTRUCTION 0 SOFTWARE ENGINEERING PROFESSIONALS INC KELLY WILSON (DIRECTOR) 165992 TECHNOLOGY SERVICES 0 Schedule L, Part IV THE INDIVIDUALS LISTED HERE WERE NOT INVOLVED IN FORUM CREDIT UNION'S DISCUSSION 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 BALLOTS 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. 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 FINANCIAL STATEMENTS IS MADE AVAILABLE UPON REQUEST. Form 990, Part XI, Line 5 CHANGE IN CASH SURRENDER VALUE IS $156,390 AND CHANGE IN UNREALIZED GAIN IN AVAILABLE FOR SALE SECURITIES IS $76,243. FORUM PRIVATE CLIENT GROUP LLC PO BOX 50738 INDIANAPOLIS IN 46250 208174999 INVESTMENT MGMT IN 1519393 344313 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 PARKWAY FISHERS IN 46037 351714970 MORTGAGE LOANS IN FORUM CREDIT UNION C 126002 3025808 1 0 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 FIMI INC n 12478 BY PERCENTAGE OF LOANS CLOSED FIMI INC o 20918 BY PERCENTAGE OF LOANS CLOSED FIMI INC q 33396 BY PERCENTAGE OF LOANS CLOSED