2018-06-07T11:19:31-05:00 2017-12-31 410746749 CLIFTONLARSONALLEN LLP 5001 SPRING VALLEY ROAD SUITE 600W DALLAS TX 75244 990 2017-01-01 750905956 COOPERATIVE TEACHERS CREDIT UNION COOP 9035612603 1424 WSW LOOP 323 TYLER TX 75701 TIM MILLER PRESIDENT PRESIDENT 9035612603 2018-06-06 1 MARY C GREEN P00447183 9723835700 2017 2022-09-23 18:48:47Z TIM MILLER 1424 WSW LOOP 323 TYLER TX 75701 11804115 0 X WWW.COOPTEACHERS.COM X 1953 TX COOPERATIVE TEACHERS CREDIT UNION ENCOURAGES THRIFT (SAVINGS), PROVIEDS CREDIT POSSIBILITIES AT A FAIR AND REASONABLE RATE AND ADEQUATE SERVICES FOR THE MEMBERSHIP IN ORDER TO ENHANCE SOCIAL AND PERSONAL GROWTH THROUGH SOUND MONEY MANAGEMENT. THE TEXAS CREDIT UNION DEPARTMENT MONITORS THE CREDIT UNION AS WELL AS THE NATIONAL CREDIT UNION ADMINISTRATION. CTCU OFFERS SERVICES IN 4 PRIMARY AREAS: SHARE ACCOUNTS, CHECKING ACCOUNTS, CONSUMER LOANS, AND REAL ESTATE LOANS. 7 7 29 7 0 0 0 0 3794061 4430638 465123 530197 113194 11596 4372378 4972431 0 0 0 656982 997221 1168230 0 0 0 2487993 2230815 3485214 4056027 887164 916404 96216429 117354390 83415577 103581686 12800852 13772704 X COOPERATIVE TEACHERS CREDIT UNION ENCOURAGES THRIFT (SAVINGS), PROVIDES CREDIT POSSIBILITES AT A FAIR AND REASONABLE RATE AND ADEQUATE SERVICES FOR THE MEMBERSHIP IN ORDER TO ENHANCE SOCIAL AND PERSONAL GROWTH THROUGH SOUND MONEY MANAGEMENT. THE TEXAS CREDIT UNION DEPARTMENT MONITORS THE CREDIT UNION AS WELL AS THE NATIONAL CREDIT UNION ADMINISTRATION. CTCU OFFERS SERVICES IN FOUR PRIMARY AREAS: SHARE ACCOUNTS, CHECKING ACCOUNTS, CONSUMER LOANS, AND REAL ESTATE LOANS. 0 0 SHARE ACCOUNTS-COOPERATIVE TEACHERS CREDIT UNION'S SHARE ACCOUNTS OFFER ADVANTAGES TO MEMBERS OF ALL AGES. MEMBER SAVINGS ACCOUNTS PAY DIVIDENDS QUARTERLY AND OFFER ACCESS THROUGH HOME BANKING VIA THE INTERNET OR TELEPHONE, MOBILE BANKING, AND ATM'S WORLDWIDE. SPECIAL SAVINGS ACCOUNTS ARE DESIGNED FOR CHILDREN TO ENCOURAGE THE DEVELOPMENT OF CONSISTENT SAVING HABITS. SHAREDRAFT ACCOUNTS-COOPERATIVE TEACHERS CREDIT UNION PROVIDES CHECKING ACCOUNTS FOR MEMBERS WITH VARIOUS FEATURES, FROM FREE ACCOUNTS TO THOSE THAT OFFER DIVIDENDS THAT ARE PAID QUARTERLY. ADDITIONALLY, THE CREDIT UNION EXTENDS THE REACH OF THESE ACCOUNTS BY OFFERING DEBIT CARDS, INTERNET ACCOUNT ACCESS, AND AN INTERNET BILL PAY PLATFORM. CONSUMER LOANS-COOPERATIVE TEACHERS CREDIT UNION HAS PROVIDED VEHICLE LOANS SINCE ITS EARLY YEARS. THE CONSUMER LOAN PRODUCT LINE NOW INCLUDES EFFICIENT UNDERWRITING AND FLEXIBLE OFFERING FOR RECREATIONAL VEHICLES, BOATS, AND MOTORCYCLES. CREDIT LIFE AND DISABILITY INSURANCE IS AVAILABLE ON ANY OF THESE LOANS. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1917 0 1 29 1 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 0 0 0 0 1 1 1 1 1 1 0 0 X TIM MILLER 9035612603 1424 WSW LOOP 323 TYLER TX 75701 WAYNE BOSHEARS CHAIRMAN 1.00 X X 0 0 0 LYNNE BANDY VICE CHAIRMAN 1.00 X X 0 0 0 ZEB CANTLEY SECRETARY 1.00 X X 0 0 0 GARY HOWELL DIRECTOR 1.00 X 0 0 0 CYNTHIA JOHNSON DIRECTOR 1.00 X 0 0 0 ORA TAYLOR DIRECTOR 1.00 X 0 0 0 JAMES HAYDEN DIRECTOR 1.00 X 0 0 0 TIMOTHY MILLER PRESIDENT/CEO 40.00 X 150000 0 24314 150000 0 24314 1 0 1 0 FISERV 255 FISERV DRIVE BROOKFIELD WI 53045 SOFTWARE 418796 1 LOAN INTEREST 522291 3756137 3756137 FEES & CHARGES 522100 639433 639433 OTHER NON-INTEREST INCOME 524298 35068 35068 4430638 509156 509156 31312 19716 11596 11596 11596 6833009 6811968 21041 21041 21041 4972431 4442234 0 530197 X 656982 656982 174314 174314 781904 781904 27050 27050 102048 102048 82914 82914 51456 51456 418796 418796 336880 336880 273439 273439 166013 166013 70730 70730 179300 179300 98572 98572 55140 55140 LOAN SERVICING EXPENSE 353810 353810 PROVISION FOR LOAN LOSS 186704 186704 OTHER MISC EXPENSES 39975 39975 4056027 4056027 0 0 424277 599436 2376681 4608142 0 0 0 0 75586062 85802367 112008 113329 3172066 664711 853441 2507355 14243593 20883186 0 500000 500000 0 2120367 2340575 96216429 117354390 857065 1371463 202316 234552 82356196 101975671 83415577 103581686 X 0 0 0 0 12800852 13772704 12800852 13772704 96216429 117354390 X 916404 128149 -72701 X 0 1 X 0 0 0 1 1078672 1078672 1754078 474341 1279737 339316 190370 148946 2507355 FHLB ADVANCES 19300000 SHARES & DEPOSITS 82675671 101975671 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER IRC 501 (C) (14), FROM FEDERAL AND STATE INCOME TAXES. CERTAIN PRODUCTS AND SERVICES PROVIDED BY SELECT STATE CHARTERED CREDIT UNIONS HAVE BEEN DEEMED BY THE INTERNAL REVENUE SERVICE (IRS), IN TECHNICAL ADVICE MEMORANDUMS (TAMS) RELEASED IN 2007, TO BE UNRELATED TO THE SPECIFIC ENTITY'S EXEMPT PURPOSE. AS PRESENTED IN THE TECHNICAL ADVICE MEMORANDUMS, THE NET TAXABLE INCOME FROM THESE PRODUCTS AND SERVICES WOULD BE SUBJECT TO INCOME TAXES. CREDIT UNIONS HAVE LITIGATED AGAINST THE IRS POSITIONS NOTED IN THE TAMS AND HAVE BEEN SUCCESSFUL IN HAVING COURTS DECLARE IN 2009 AND 2010 THAT REVENUE FROM INSURANCE PRODUCTS SOLD TO MEMBERS, HELPING THEM PROTECT THEIR FINANCIAL WELLBEING, QUALIFIES AS EXEMPT PURPOSE INCOME, CONTRARY TO THE IRS POSITION IN THE TAMS. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE AND HAS A MINIMAL NET OPERATING LOSS CARRYFORWARD AS OF THE 2017 CALENDAR YEAR. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES, AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2017. THE CREDIT UNION'S 2014 THROUGH 2016 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. SCHEDULE D, PART IV, LINE 2B ESCROW ACCOUNTS FOR MEMBER HOME LOANS. PROPERTY TAXES AND INSURANCE ARE HELD IN ESCROW. X 0 0 0 TIMOTHY MILLER PRESIDENT/CEO 150000 0 0 0 0 0 15000 0 9314 0 174314 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 MEMBER OWNED FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT BOARD OF DIRECTORS FORM 990, PART VI, SECTION A, LINE 8B THE BOARD OF DIRECTORS ARE THE GOVERNING BODY. THERE ARE 7 VOTING MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE REVIEWED BY THE BOARD OF DIRECTORS. BOARD OF DIRECTORS MEETINGS ARE HELD MONTHLY. FORM 990, PART VI, SECTION B, LINE 12C AN ANNUAL CONFLICT OF INTEREST STATEMENT IS REQUIRED. FORM 990, PART VI, SECTION B, LINE 15A THE PRESIDENT/CEO SALARY IS BASED ON VARIOUS SALARY SERVEYS FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION IS IN COMPLIANCE WITH ALL APPLICABLE RULES AND REGULATIONS REGARDING PROVIDING INFORMATION TO THE PUBLIC. FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY, IN A NEWSLETTER, AND ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G FISERV: PROGRAM SERVICE EXPENSES 418,796. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 418,796. FORM 990, PART XI, LINE 9: BOND ACCOUNTING ADJUSTMENT -72,701. COOPERATIVE TEACHERS CREDIT UNION FOUNDATION 1424 WSW LOOP 323 TYLER TX 75701 824173338 TO PROVIDE SCHOLARSHIPS AND RECOGNITION TO TEACHERS TX 501(C)(3) PF COOPERATIVE TEACHERS CREDIT UNION 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 COOPERATIVE TEACHERS CREDIT UNION FOUNDATION B 67190 FMV