2019-11-12T11:11:05-06:00 2018-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2018-01-01 586032554 LGE COMMUNITY CREDIT UNION LGEC 7704240060 430 COMMERCE PARK DRIVE MARIETTA GA 30060 CHRIS LEGGETT CEO 7704240060 2019-11-06 1 DOUGLAS J ORTH P01076394 3052328272 104.11.88.150 2019-11-06 08:54:05 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 A7DB26C3BB201601930FCFA0C4651552B54C26A2 2018 2020-03-31 21:24:44Z CHRIS LEGGETT 430 COMMERCE PARK DRIVE MARIETTA GA 30060 74581356 0 3804 X WWW.LGECCU.ORG X 1951 GA PROVIDE SAVINGS AND LENDING ACTIVITIES TO MEMBER OWNERS OF THE COOPERATIVE 9 9 318 15 27834 -149876 0 0 53066644 62233886 2462386 5210651 1374948 1650393 56903978 69094930 0 0 0 0 18949950 23718337 0 0 0 25874332 30345647 44824282 54063984 12079696 15030946 1243877289 1391337596 1100615536 1231707545 143261753 159630051 PROVIDE SAVINGS AND LENDING ACTIVITIES TO MEMBER OWNERS OF THE COOPERATIVE. 0 0 INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. 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 1 0 1 0 0 1 35766 0 1 318 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 1 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 X SEAN D FERRELL 7704212576 430 COMMERCE PARK DRIVE MARIETTA GA 30060 MICHAEL L SANSEVIRO V. CHAIRPERSON 1.00 X 0 0 0 RICHARD A DIXON CHAIRPERSON 1.00 X 0 0 0 ALLAN BISHOP BOD MEMBER/SC MEMBER 1.00 X 0 0 0 FRANK S MYERS BOD MEMBER 1.00 X 0 0 0 JAN G AUSTIN BOD TREASURER 1.00 X 0 0 0 MONTE F CAGLE BOD SECRETARY 1.00 X 0 0 0 CHERYL BRAUND BOD MEMBER 1.00 X 0 0 0 CURT EARNEST BOD MEMBER/SC MEMBER 1.00 X 0 0 0 DENISE O'CONNELL BOD MEMBER/SC MEMBER 1.00 X 0 0 0 RON SUMPTER SC MEMBER 1.00 X 0 0 0 SUSAN BROWNING SC MEMBER 1.00 X 0 0 0 CHRIS LEGGETT CEO 40.00 X 537396 0 78972 SEAN FERRELL SVP/CFO 40.00 X 194250 0 48094 LAURA KING COO 40.00 X 280155 0 76283 STEVE STANFIELD CRO 40.00 X 208705 0 67338 SUSAN TILLERY CLO 40.00 X 214360 0 50351 JANET C WAGNER SVP HUMAN RESOURCES 40.00 X 204528 0 72818 JUDY KINNEY SVP BRANCH SERVICES 40.00 X 189128 0 67174 RODNEY GRIZZLE VP BUSINESS SERVICES 40.00 X 181237 0 67617 VALERIE HARPER VP OF LENDING 40.00 X 141953 0 29673 SCOTT BROOKS VP MARKETING 40.00 X 157955 0 18011 MEHRIJI FASINEJAD FORMER - CIO 40.00 X 172112 0 20706 2481779 0 597037 21 0 1 0 ALKAMI TECHNOLOGY 5601 GRANITE PARKWAY SUITE 120 PLANO TX 75024 WEB BILLPAY AND ONLINE BANKING 1258462 RG FACILITY MAINTENANCE PO BOX 1593 WOODSTOCK GA 30188 BUILDING MAINTENANCE 988324 JACK HENRY P O BOX 609 MONETT MO 65708 COMPUTER HARDWARE 840085 VISA DPS P O BOX 742233 LOS ANGELES CA 90074 CREDIT CARD PROCESSING 685261 GLORY GLOBAL SOLUTIONS INC DEPT CH 16630 PALATINE PALATINE IL 600556630 CASH TECHNOLOGY SERVICES 511008 41 INCOME FROM LOANS 522100 41891410 41891410 FEE/OTHER INCOME 522100 20314642 20314642 UNRELATED BUSINESS INCOME 900099 27834 27834 62233886 3202108 3202108 7494969 5486426 2008543 2008543 2008543 GAIN ON OTHER ASSETS 522100 1650393 1650393 1650393 69094930 69067096 27834 0 2033250 14989322 1738358 3767031 1190376 236727 239732 1305694 1602555 8622200 2127312 440781 6948616 160026 1556774 PROVISION FOR LOAN LOSS 3464744 LOAN SERVICING 3379690 LOSSES ON INVESTMENTS 256947 MISCELLANEOUS EXPENSE 3849 54063984 7803768 7704525 13560994 63560144 584849 667491 5716926 5751976 1014270405 1094942544 826564 916691 40575783 25281210 13080313 15294573 137197807 124083729 7328437 13378965 16954365 43507226 48082593 1243877289 1391337596 12524898 17634048 62000000 70000000 1026090638 1144073497 1100615536 1231707545 X 0 0 0 0 143261753 159630051 143261753 159630051 1243877289 1391337596 X 15030946 99358 1237994 X X 0 1 X 1 0 4857190 4857190 12497983 6034521 6463462 2852984 1646908 1206076 20367626 17599781 2767845 15294573 REGULAR SHARES 392157982 MONEY MARKET 254323052 CERTIFICATES 109308439 SHARE DRAFTS 345681952 NON MEMBER DEPOSITS 997157 IRA 41604915 1144073497 X 69094930 0 69094930 0 69094930 54063984 0 54063984 0 54063984 PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. THE INCOME TAXES TOPIC OF THE FASB 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 ON EXAMINATION BY TAX AUTHORITIES. AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017, MANAGEMENT HAS DETERMINED THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. X X X 0 1 0 CHRIS LEGGETT CEO 497021 0 40375 0 0 0 29292 0 49680 0 616368 0 0 0 SEAN FERRELL SVP/CFO 168350 0 25900 0 0 0 22565 0 25529 0 242344 0 0 0 LAURA KING COO 245573 0 34582 0 0 0 27776 0 48507 0 356438 0 0 0 STEVE STANFIELD CRO 182318 0 26387 0 0 0 23858 0 43480 0 276043 0 0 0 SUSAN TILLERY CLO 188103 0 26257 0 0 0 24568 0 25783 0 264711 0 0 0 JANET C WAGNER SVP HUMAN RESOURCES 178313 0 26215 0 0 0 24343 0 48475 0 277346 0 0 0 JUDY KINNEY SVP BRANCH SERVICES 170724 0 18404 0 0 0 23870 0 43304 0 256302 0 0 0 RODNEY GRIZZLE VP BUSINESS SERVICES 163153 0 18084 0 0 0 19325 0 48292 0 248854 0 0 0 VALERIE HARPER VP OF LENDING 128153 0 13800 0 0 0 12277 0 17396 0 171626 0 0 0 SCOTT BROOKS VP MARKETING 142592 0 15363 0 0 0 10527 0 7484 0 175966 0 0 0 MEHRIJI FASINEJAD FORMER - CIO 172112 0 0 0 0 0 5582 0 15124 0 192818 0 0 0 PART I, LINE 4B THE ORGANIZATION DEPOSITED FUNDS INTO A LIFE INSURANCE POLICY ON THE LIVES OF CHRIS LEGGETT, LAURA KING AND CAROL WAGNER. DURING LIFE, AND SUBJECT TO THE POLICY GENERATING SUFFICIENT VALUES, THE PARTICIPANTS CAN BORROW FROM THE POLICY. AT DEATH, THE ORGANIZATION RECOVERS ITS PREMIUMS PLUS INTEREST PLUS ADDITIONAL KEY-PERSON INSURANCE PROCEEDS. THE CEO, CHRIS LEGGETT, COO LAURA KING, CRO STEVE STANFIELD, CLO SUSAN TILLERY, CAO CAROL WAGNER, CFO SEAN FERRELL, SVP JUDY KINNEY HAVE A 457(F) DEFERRED COMPENSATION ARRANGEMENT. THE APPROXIMATE BALANCE OF THE BENEFIT PAYABLE TO EACH PARTICIPANT AS OF DECEMBER 31, 2018 WERE AS FOLLOWS: CHRIS LEGGETT: $ 465,992 LAURA KING: $191,335 STEVE STANFIELD: $157,731 SUSAN TILLERY: $125,094 CAROL WAGNER: $66,216 SEAN FERRELL: $6,006 JUDY KINNEY: $2,567 CHRIS LEGGETT CEO TO FUND SPLIT DOLLAR LIFE INSURANCE PLAN X 3750000 3738922 0 1 1 CAROL WAGNER VP, HR AND EMPLOYEE DEVELOPMENT TO FUND SPLIT DOLLAR LIFE INSURANCE PLAN X 1000000 1006527 0 1 1 LAURA KING COO TO FUND SPLIT DOLLAR LIFE INSURANCE PLAN X 1000000 1006527 0 1 1 5751976 FORM 990, SCH 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 PARTICIPANTS 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 PARTICIPANTS 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 4 EFFECTIVE JANUARY 1, 2018, THE CREDIT UNION COMPLETED THE MERGER OF MEAD EMPLOYEES CREDIT UNION, THE ACQUIREE IN THIS BUSINESS COMBINATION. MEAD EMPLOYEES CREDIT UNION WAS A STATE CHARTERED CREDIT UNION LOCATED IN ATLANTA, GEORGIA, FOUNDED AS A COOPERATIVE ASSOCIATION FOR THE PURPOSES OF PROMOTING THRIFT AMONG, AND CREATING A SOURCE OF CREDIT FOR ITS MEMBERS. THE REASON FOR THE MERGER IS TO FURTHER PROMOTE THRIFT AMONG ITS MEMBERS CONSISTENT WITH PURPOSE WHEN FOUNDED. ADDITIONALLY, EFFECTIVE SEPTEMBER 30, 2018, THE CREDIT UNION COMPLETED THE MERGER OF GEORGIA HERITAGE BANK, THE ACQUIREE IN THIS BUSINESS COMBINATION. GEORGIA HERITAGE BANK WAS A BANK LOCATED IN DALLAS, GEORGIA. THE REASON FOR THE MERGER IS TO FURTHER PROMOTE THRIFT AMONG ITS MEMBERS CONSISTENT WITH PURPOSE WHEN FOUNDED. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION 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 OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B LGECCU ENGAGED A PAID PREPARER, DOEREN MAYHEW, TO COMPLETE OUR FORM 990 FILING. UPON COMPLETION OF THE RETURN, IT WAS REVIEWED AND APPROVED BY EXECUTIVE MANAGEMENT. FORM 990, PART VI, SECTION B, LINE 12C LGECCU MAINTAINS A CONFLICT OF INTEREST POLICY WITHIN ITS CODE OF ETHICS. THIS POLICY IS ENFORCED AT ALL TIMES AND REVIEWED PERIODICALLY BY OUR INTERNAL AUDIT DEPARTMENT. FORM 990, PART VI, SECTION B, LINE 15 LGECCU USES SURVEY DATA DURING AN ANNUAL REVIEW PROCESS TO DETERMINE THE REASONABLENESS OF ALL COMPENSATION AND BENEFITS. THE REVIEW OF THE CEO'S COMPENSATION IS A FUNCTION OF THE BOARD OF DIRECTORS. ANNUALLY, THE BOARD USES AN EXECUTIVE COMPENSATION SURVEY FROM AN INDEPENDENT THIRD PARTY TO DETERMINE THE CEO'S COMPENSATION. FOR ALL OTHER POSITIONS IN THE ORGANIZATION, PAY RANGES ARE REVIEWED AND APPROVED ON AN ANNUAL BASIS BY THE BOARD OF DIRECTORS UTILIZING DATA FROM AN INDEPENDENT COMPENSATION STUDY. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON NCUA.GOV VIA THE QUARTERLY 5300 FILING. FORM 990, PART XI, LINE 9: EQUITY ACQUIRED IN MERGERS 1,237,994. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. LGE INSURANCE SERVICES LLC 430 COMMERCE PARK DR MARIETTA GA 30060 272540699 INSURANCE SALES GA 595448 745165 LGE COMMUNITY CREDIT UNION