2018-11-08T12:48:14-07:00 2017-12-31 440160260 BKD LLP 201 N ILLINOIS ST Indianapolis IN 46204 990 2017-01-01 350779057 FORUM CREDIT UNION FORU 3175586000 PO BOX 50738 INDIANAPOLIS IN 46250 JEFFRY WELCH CHIEF FINANCIAL OFFICER 3175586238 2018-05-15 1 MICHAEL J SUMMERS CPA P00838533 3173834000 2018-05-15 68.255.122.112 2017 2019-02-21 02:37:17Z DOUGLAS TRUE PO BOX 50738 INDIANAPOLIS IN 46250 74057067 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 7 425 12 1464902 147748 0 0 60013967 67564325 911985 2190075 1726571 1716586 62652523 71470986 150000 150000 0 0 23659253 25768215 0 0 0 33873162 35653289 57682415 61571504 4970108 9899482 1303547575 1366489677 1172405985 1225292702 131141590 141196975 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 $706 MILLION IN LOANS PER 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 ACCOUNTABILITY PARTNERS, FINANCIAL PEACE 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 ACTIVIITIES. FORUM CURRENTLY WORKS WITH OVER 2,900 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 0 0 0 0 0 1 1 1 1 0 1 44849 0 1 425 1 1 1 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 1449 0 0 MAX FALL VICE CHAIRMAN 5 0 X X 1483 0 0 RICK RAMBO TREASURER 5 0 X X 1296 0 0 TRACY MILLS SECRETARY 5 0 X X 0 0 0 JOHN GALLLINA DIRECTOR 5 0 X 0 0 0 CHRISTOPHER HAGENOW DIRECTOR 5 0 X 0 0 0 SANDRA HOLLINGSHEAD DIRECTOR 5 0 X 1673 0 0 KEVIN HUNT DIRECTOR 5 0 X 700 0 0 DOREEN LONG DIRECTOR 5 0 X 1417 0 0 DOUGLAS TRUE CHIEF EXECUTIVE OFFICER 40 1 X 436423 0 135234 JEFFRY WELCH CHIEF FINANCIAL OFFICER 40 1 X 448930 0 67004 CHARLES ANDREW MATTINGLY CHIEF OPERATING OFFICER 40 1 X 242426 0 69334 JENNIFER BUDREAU CHIEF OPERATING OFFICER 40 1 X 252178 0 70004 CAMERON PIERCEFIELD CHIEF TECHNOLOGY AND RISK OFFICER 40 1 X 225302 0 56641 BENJAMEN BANKS FINANCIAL ADVISOR-PCG 40 0 X 266934 0 33335 RICHARD RIDENOUR VICE PRESIDENT - PCG 40 0 X 234555 0 35047 JIM CARR VICE PRESIDENT-COMMERCIAL GROUP 40 0 X 194212 0 35135 MICHELLE ADRIAN MORTGAGE ORIGINATOR 40 0 X 178667 0 7747 BRIAN CRUM VICE PRESIDENT - LENDING 40 0 X 162855 0 32904 2650500 0 542385 43 0 1 0 BRADLEY COMPANY LLC PO BOX 540 SOUTH BEND IN 46624 PROPERTY MANAGEMENT 371395 APPRAISERVENDORCOM LLC 3195 W FAIRVIEW RD SUITE A GREENWOOD IN 46142 APPRAISAL SERVICES 270835 CHURCH CHURCH HITTLE & ANTRIM TWO NORTH NINTH STREET NOBLESVILLE IN 46060 LEGAL SERVICES 242042 FAIRWAY OUTDOOR FUNDING LLC P O BOX 60125 CHARLOTTTE NC 28260 ADVERTISING SERVICES 228969 TRIBUNE BROADCASTING INDIANAPOLIS LLC WXINTV 6910 NETWORK PL INDIANAPOLIS IN 46278 ADVERTISING SERVICES 202000 15 0 INTEREST AND FEES ON LOANS 522130 45229048 45229048 0 0 SERVICE FEES ON SHARE ACCOUNTS 522130 9854076 9748167 105909 0 DEBIT AND CREDIT CARD FEES 522130 6938768 6938768 0 0 MORTGAGE BANKING 522130 4645972 4645972 0 0 INSURANCE 522130 896461 829504 66957 0 0 0 0 0 67564325 1966941 0 0 1966941 0 0 0 0 0 0 0 0 616494 0 833927 0 -217433 0 -217433 0 -186100 -31333 0 1975288 0 1752154 0 223134 223134 223134 0 0 ACCOUNTING & TAX CONSULTING 541200 85625 0 85625 0 INVESTMENT ADVISORY SERVICES 523930 1392511 0 1392511 0 455883 455883 0 0 1934019 71470986 68070476 1464902 1935608 150000 0 0 0 2013424 0 19055261 701010 2535438 1463082 0 77568 187841 0 0 0 0 2246440 1324917 2835714 0 3517172 23864 0 477230 9058706 0 2561374 228637 PROVISION FOR LOAN LOSSESS 6144715 COLLECTIONS AND OTHER LOAN EXPENSES 4887538 CORRESPONENT SERVICE EXPENSE 358045 INCOME TAX 566520 1157008 61571504 0 0 0 4640763 3627618 97525666 135125416 0 0 0 0 0 0 0 0 1100177164 1144425866 0 0 0 0 69934631 35637089 32782504 34297542 41036828 14971525 4322700 4628200 0 0 0 0 23061950 29413510 1303547575 1366489677 17967424 22738745 0 0 0 0 0 0 0 0 0 0 126669615 115459084 0 0 1027768946 1087094873 1172405985 1225292702 X 0 0 0 0 131141590 141196975 131141590 141196975 1303547575 1366489677 X 9899482 155903 0 0 0 0 X 0 1 X 1 0 7000 0 0 7000 7000 1 INDIANA CREDIT UNION LEAGUE PAC PO BOX 50425 INDIANAPOLIS IN 46250 237305600 5000 0 GREATER INDIANAPOLIS CHAMBER OF COMMERCE PAC 111 MONUMENT CIR SUITE 1950 INDIANAPOLIS IN 46204 352106949 1000 0 INDIANA BUSINESS FOR RESPONSIVE GOVERNMENT 115 W WASHINGTON ST STE 850 INDIANAPOLIS IN 46204 351789566 1000 0 Schedule C, Part I-A, Line 1 FORUM CREDIT UNION CONTRIBUTED $5,000 TO THE INDIANA CREDIT UNION LEAGUE POLITICAL ACTION COMMITTEE; $1,000 TO THE GREATER INDIANAPOLIS CHAMBER OF COMMERCE BUSINESS ADVOCACY COMMITTEE AND $1,000 TO THE INDIANA BUSINESS FOR RESPONSIVE GOVERNMENT. 0 7426758 7426758 0 37690943 17280354 20410589 0 2378298 1749156 629142 0 22438632 16607579 5831053 0 0 0 0 34297542 0 MEMBER SHARE ACCOUNTS 937865873 NON-MEMBER DEPOSITS 149229000 1087094873 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 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 353770 0 79550 0 3102 0 30150 0 25534 0 492106 0 0 0 JEFFRY WELCH CHIEF FINANCIAL OFFICER 207649 0 32000 0 209282 0 9185 0 25819 0 483935 0 0 0 CHARLES ANDREW MATTINGLY CHIEF OPERATING OFFICER 207555 0 32000 0 2872 0 11515 0 25819 0 279761 0 0 0 JENNIFER BUDREAU CHIEF OPERATING OFFICER 215798 0 32000 0 4380 0 26339 0 11666 0 290183 0 0 0 CAMERON PIERCEFIELD CHIEF TECHNOLOGY AND RISK OFFICER 191388 0 32000 0 1915 0 14234 0 10407 0 249944 0 0 0 JIM CARR VICE PRESIDENT-COMMERCIAL GROUP 191909 0 0 0 2303 0 9327 0 25807 0 229346 0 0 0 RICHARD RIDENOUR VICE PRESIDENT - PCG 234417 0 0 0 138 0 26343 0 8704 0 269602 0 0 0 BENJAMEN BANKS FINANCIAL ADVISOR-PCG 266934 0 0 0 0 0 8218 0 25117 0 300269 0 0 0 BRIAN CRUM VICE PRESIDENT - LENDING 161066 0 0 0 1789 0 7308 0 25596 0 195759 0 0 0 MICHELLE ADRIAN MORTGAGE ORIGINATOR 178666 0 0 0 1 0 6794 0 953 0 186414 0 0 0 Schedule J, Part I, Line 1a JOHN DIERDORF, CHAIRMAN; MAX FALL, VICE CHAIR; SANDRA HOLLINGSHEAD, DIRECTOR; KEVIN HUNT, DIRECTOR; DOREEN LONG, DIRECTOR; RICK RAMBO, TREASURER; EDWIN BANATA, SUPERVISORY COMMITTEE MEMBER; AND DANIEL HUGE, 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 WAS A $206,000 DISTRIBUTION TO JEFFRY WELCH DURING THE YEAR. THIS AMOUNT WAS INCLUDED IN HIS OTHER REPORTABLE COMPENSATION ON SCHEDULE J, PART II AND INCLUDED ON HIS W-2. KATHLEEN PIERCEFIELD SPOUSE OF KEY EMPLOYEE, CAMERON PIERCEFIELD 81717 COMPENSATION OF EMPLOYEE 0 KELLI DIERDORF SPOUSE OF CHAIRMAN, JOHN DIERDORF 77325 COMPENSATION OF EMPLOYEE 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 COIPIES 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 2016. 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 $154,302 AND CHANGE IN UNREALIZED GAIN/(LOSS) IN AVAILABLE FOR SALE SECURITIES IS $1,601. FORUM PRIVATE CLIENT GROUP LLC PO BOX 50738 INDIANAPOLIS IN 46250 208174999 INVESTMENT MGMT IN 1480386 1018513 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 160089 3508839 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 FIMI INC o 71242 BY PERCENTAGE OF LOANS CLOSED. FIMI INC q 83474 BY PERCENTAGE OF CLOSED LOANS FIMI INC n 12232 BY PERCENTAGE OF LOANS CLOSED FORUM CREDIT UNION FOUNDATION INC b 150000 CASH POSITION OF FORUM CREDIT UNION