2019-11-12T11:11:03-07:00 2018-12-31 990 2018-01-01 350779057 FORUM CREDIT UNION FORU 3175586000 PO BOX 50738 INDIANAPOLIS IN 46250 Jeffry Welch Chief Financial Officer 3175586238 2019-11-12 68.255.122.112 2018 2020-03-31 21:24:44Z DOUGLAS TRUE PO BOX 50738 INDIANAPOLIS IN 46250 78346040 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 7 413 12 1374086 333546 0 0 67564325 71449542 2190075 2771340 1716586 2556506 71470986 76777388 150000 150000 0 0 25768215 26544017 0 0 0 35653289 39129749 61571504 65823766 9899482 10953622 1366489677 1414390401 1225292702 1262098409 141196975 152291992 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 $656 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 $18 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 3,100 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 105432 0 1 413 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 JOHN DIERDORF CHAIRMAN 5 0 X X 853 0 0 KEVIN HUNT VICE CHAIRMAN 5 0 X X 742 0 0 RICK RAMBO TREASURER 5 0 X X 985 0 0 TRACY MILLS SECRETARY 5 0 X X 0 0 0 JOHN GALLINA DIRECTOR 5 0 X 0 0 0 CHRISTOPHER HAGENOW DIRECTOR 5 0 X 0 0 0 JODEE CURTIS DIRECTOR 5 0 X 0 0 0 MAX FALL DIRECTOR 5 0 X 0 0 0 DOREEN LONG DIRECTOR 5 0 X 856 0 0 DOUGLAS TRUE CHIEF EXECUTIVE OFFICER 40 1 X 462092 0 118635 JEFFRY WELCH CHIEF FINANCIAL OFFICER 40 1 X 233142 0 81047 CHARLES ANDREW MATTINGLY CHIEF OPERATING OFFICER 40 1 X 234916 0 77884 JENNIFER BUDREAU CHIEF OPERATING OFFICER 40 1 X 234191 0 83383 CAMERON PIERCEFIELD CHIEF TECHNOLOGY AND RISK OFFICER 40 1 X 269121 0 68699 BENJAMEN BANKS FINANCIAL ADVISOR- PCG 40 0 X 342714 0 36275 JIM CARR VICE PRESIDENT- COMMERICAL GROUP 40 0 X 214583 0 35853 TAMMY MARRS FINANCIAL ADVISOR- PCG 40 0 X 210131 0 35253 JEFFREY OWEN VICE PRESIDENT- TECHNOLOGY 40 0 X 181670 0 27725 MICHELLE ADRIAN MORTGAGE ORIGINATOR 40 0 X 201887 0 7335 2587883 0 572089 45 0 1 0 BRADLEY COMPANY LLC PO BOX 540 SOUTH BEND IN 46624 PROPERTY MANAGEMENT 348716 CHURCH CHURCH HITTLE & ANTRIM TWO NORTH NINTH STREET NOBLESVILLE IN 46060 LEGAL SERVICES 319652 APPRAISERVENDORCOM LLC 3195 W FAIRVIEW RD SUITE A GREENWOOD IN 46142 APPRAISAL SERVICES 279945 FAIRWAY OUTDOOR FUNDING LLC P O BOX 60125 CHARLOTTE NC 28260 ADVERTISING SERVICES 278965 ONGOING OPERATIONS LLC P O BOX 45741 BALTIMORE MD 21297 TECHNOLOGY SERVICES 196734 8 0 0 0 0 0 0 0 0 INTEREST AND FEES ON LOANS 522130 51064593 51064593 0 0 SERVICE FEES ON SHARE ACCOUNT 522130 8559263 8460878 98385 0 DEBIT AND CREDIT CARD FEES 522130 7448909 7448909 0 0 MORTGAGE BANKING 522130 3500400 3500400 0 0 INSURANCE 522130 876377 817704 58673 0 0 0 0 0 71449542 2812875 0 0 2812875 0 0 0 0 0 0 0 0 883957 0 776579 0 107378 0 107378 0 -197841 305219 0 750538 0 792073 0 -41535 -41535 -41535 0 0 0 INVESTMENT ADVISORY SERVICES 523930 1414869 0 1414869 0 1034259 1034259 0 0 2449128 76777388 72285208 1374086 3118094 150000 0 0 0 1867541 0 19814378 768230 2574999 1518869 0 73566 195544 2336730 1180925 3642804 3547450 17480 499490 9845925 2392324 244374 PROVISION FOR LOAN LOSS 7947412 COLLECTIONS AND OTHER LOAN EXPENSES 5179234 CORRESPONDENT SERVICE EXPENSE 404771 INCOME TAX 421043 1200677 65823766 0 0 0 3627618 2742283 135125416 122195163 0 0 0 0 0 0 0 0 1144425866 1207740470 0 0 0 0 71063663 37568920 34297542 33494743 14971525 14003832 4628200 4910700 0 0 29413510 29303210 1366489677 1414390401 22738745 6421707 0 0 0 0 0 0 0 0 0 0 115459084 120236124 0 0 1087094873 1135440578 1225292702 1262098409 X 0 0 0 0 141196975 152291992 141196975 152291992 1366489677 1414390401 X 10953622 141395 0 0 0 0 X 0 1 X 1 0 6500 0 0 6500 6500 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 1450 0 GREATER INDIANAPOLIS CHAMBER OF COMMERCE BUSINESS ADVOCACY COMMITTEE 111 MONUMENT CIR SUITE 1950 INDIANAPOLIS IN 46204 352106949 50 0 Schedule C, Part I-A, Line 1 FORUM CREDIT UNION CONTRIBUTED $5,000 TO THE INDIANA CREDIT UNION LEAGUE POLITICAL ACTION COMMITTEE; $1,450 TO THE INDIANA BUSINESS FOR RESPONSIVE GOVERNMENT; AND $50 TO THE GREATER INDIANAPOLIS CHAMBER OF COMMERCE BUSINESS ADVOCACY COMMITTEE. 0 7426758 7426758 0 37694574 18329216 19365358 0 2173842 1660055 513787 0 23768489 17579649 6188840 0 0 0 0 33494743 MEMBER SHARE ACCOUNTS 996120005 NON-MEMBER DEPOSITS 139320573 1135440578 Schedule D, Part X, Line 1 MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITION UNDER THE 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 46038 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 397730 0 61251 0 3111 0 30875 0 26509 0 519476 0 0 0 JEFFRY WELCH CHIEF FINANCIAL OFFICER 186275 0 42500 0 4367 0 11037 0 27509 0 271688 0 0 0 CHARLES ANDREW MATTINGLY CHIEF OPERATING OFFICER 189353 0 42500 0 3063 0 11027 0 24357 0 270300 0 0 0 JENNIFER BUDREAU CHIEF OPERATING OFFICER 187305 0 42500 0 4386 0 29552 0 11331 0 275074 0 0 0 CAMERON PIERCEFIELD CHIEF TECHNOLOGY AND RISK OFFICER 224569 0 42500 0 2052 0 17375 0 8823 0 295319 0 0 0 BENJAMEN BANKS FINANCIAL ADVISOR- PCG 342714 0 0 0 0 0 12220 0 24055 0 378989 0 0 0 JIM CARR VICE PRESIDENT- COMMERICAL GROUP 210829 0 0 0 3753 0 10108 0 25745 0 250435 0 0 0 TAMMY MARRS FINANCIAL ADVISOR- PCG 210131 0 0 0 0 0 9616 0 25636 0 245383 0 0 0 JEFFREY OWEN VICE PRESIDENT- TECHNOLOGY 159398 0 21250 0 1022 0 7057 0 20667 0 209394 0 0 0 MICHELLE ADRIAN MORTGAGE ORIGINATOR 201887 0 0 0 0 0 5766 0 1568 0 209221 0 0 0 Schedule J, Part I, Line 1a JOHN DIERDORF, CHAIRMAN; KEVIN HUNT, VICE CHAIRMAN; DOREEN LONG, DIRECTOR; RICK RAMBO, TREASURER; AND EDWIN BANATA, SUPERVISORY COMMITTEE MEMBER RECEIVED A BENEFIT FOR TRAVEL FOR COMPANIONS AND/OR CASH FOR TRAVEL. THE APPROPRIATE TAX FORMS ARE FILED BASED ON THE APPROPRIATE THRESHOLDS. 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. THERE WERE NO DISTRIBUTIONS DURING THE YEAR. KATHLEEN PIERCEFIELD SPOUSE OF KEY EMPLOYEE, CAMERON PIERCEFIELD 84367 COMPENSATION OF EMPLOYEE 0 KELLI DIERDORF SPOUSE OF CHAIRMAN, JOHN DIERDORF 62185 COMPENSATION OF EMPLOYEE 0 SHIEL SEXTON COMPANY INC KEVIN HUNT (DIRECTOR) IS PRESIDENT AND COO 422184 GENERAL CONSTRUCTION 0 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 2018. 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 $155,636 AND CHANGE IN UNREALIZED LOSS IN AVAILABLE FOR SALE SECURITIES IS $14,240. FORUM PRIVATE CLIENT GROUP LLC PO BOX 50738 INDIANAPOLIS IN 46250 208174999 INVESTMENT MGMT IN 1417528 1205180 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 133397 3787853 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 14397 BY PERCENTAGE OF LOANS CLOSED FIMI INC o 63233 BY PERCENTAGE OF LOANS CLOSED FIMI INC q 77631 BY PERCENTAGE OF LOANS CLOSED