2018-10-17T13:03:41-05:00 2017-12-31 410746749 CLIFTONLARSONALLEN LLP PO BOX 217 AUSTIN MN 55912 990 2017-01-01 580147128 GEORGIA'S OWN CREDIT UNION GEOR 4048741166 PO BOX 105205 ATLANTA GA 30348 GREGORY L GIBSON CHIEF FINANCIAL OFFICER 4048741166 2018-09-24 1 TANYA MEDGAARDEN P01717240 5074347000 2018-09-21 67.137.57.251 2018-09-24 09:51:36 CD P 64AF3659F43F5CC98B56C00B2A895DE9C1B7BC1E 54D8D927FE1959EFDE9C130AEE0794B2E6AD1686 2017 2018-06-14 16:35:46Z DAVID A PRETER PO BOX 105205 ATLANTA GA 30348 171663916 0 X WWW.GEORGIASOWN.ORG X CU 1943 GA TO PROVIDE THRIFT SAVING/BORROWING TO MEMBER-OWNED COOPERATIVE. 12 10 510 0 1132619 -620580 0 0 95717639 106810219 5379390 8593853 0 0 101097029 115404072 189607 244884 4455411 4579050 37297069 37580453 0 0 0 51089720 56486679 93031807 98891066 8065222 16513006 2139644896 2311604416 1917070067 2078268218 222574829 233336198 TO PROVIDE THRIFT SAVING/BORROWING TO MEMBER-OWNED COOPERATIVE. 0 0 PROVIDED THRIFT SAVINGS/BORROWINGS TO 186,501 MEMBERS. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 1 0 0 0 0 0 1 1 1 0 1 27594 0 1 510 1 1 1 0 0 0 0 0 X 12 10 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X TERESA MARTIN 4045751817 PO BOX 105205 ATLANTA GA 30348 DAVID PRETER PRESIDENT/CEO - DIRECTOR 40.00 X X 721005 0 688627 JOSEPH M MAURIELLO CHAIRMAN - DIRECTOR 1.00 X X 13397 0 0 MICHAEL W BAUMGARTNER DIRECTOR - VICE CHAIRMAN 1.00 X X 11994 0 0 RICHARD E BURNS DIRECTOR 1.00 X 14509 0 0 PATRICK H CASEY TREASURER - DIRECTOR 1.00 X X 11943 0 0 WILLIAM E CONINE DIRECTOR 1.00 X 12394 0 0 DAVID DICKEY DIRECTOR 1.00 X 11994 0 0 JAMES L FOWLER DIRECTOR 1.00 X 11943 0 0 GARY M LUDGOOD DIRECTOR 1.00 X 11994 0 0 JOAN K SIMS SECRETARY - DIRECTOR 1.00 X X 11994 0 0 ERVIN M WALKER DIRECTOR 1.00 X 11850 0 0 MOLLIE BELL DIRECTOR 1.00 X 11970 0 0 JOHN CAREW III SVP STRATEGY 40.00 X 543553 0 185567 KELLY M GARMON CMO 40.00 X 656887 0 144331 CINDY BOYLES SVP ORGANIZATIONAL DEVELOP 40.00 X 282287 0 182242 ERIC BROOME SVP ERM/GENERAL COUNSEL 40.00 X 291525 0 198923 BONNIE J KIMMEY SVP LENDING 40.00 X 314691 0 95446 GREGORY GIBSON CFO 40.00 X 309863 0 77416 DREW PUTT CHIEF LENDING SALES OFFICER 40.00 X 68751 0 4319 TERESA L MARTIN PRINCIPAL - ACCOUNTING 40.00 X 178806 0 41456 KENNETH D BREHM PRINCIPAL - OPERATIONS OFFICER 40.00 X 170433 0 38562 ANTHONY STRIPLING VP - MORTGAGE OPERATIONS 40.00 X 163936 0 31355 DAVID A MARLOW PRINCIPAL - MEMBER IMPACT 40.00 X 199721 0 19467 LEE D NORRIS VP - FACILITIES & REAL EST 40.00 X 170957 0 15620 MICHAEL STONE AVP SYNDICATION LENDING 40.00 X 167637 0 17534 MATTHEW HAVICE VP - ASSISTANT GENERAL COUNSEL 40.00 X 181458 0 21422 BARBARA BURKETT VP - DEPOSITS & PAYMENTS 40.00 X 153786 0 26893 LORENZO BROWN VP-STRATEGIC TECHNICAL SOLUTIONS 40.00 X 200796 0 26702 KIMBERLY DUFFY VP - HR AND LEARNING 40.00 X 170065 0 19143 TODD LAMBRIGHT MORTGAGE SALES MANAGER 40.00 X 170263 0 7958 TIM THOMAS VP - MEMBER SERVICES CALL CENTER 40.00 X 146993 0 21869 KEVAN WILLIAMSON VP - INFORMATION SYSTEMS 40.00 X 143466 0 31506 RODNEY COWAN VP - INTERNAL AUDIT 40.00 X 134653 0 21609 ELIZABETH STANA DIRECTOR - PRODUCT MANAGEMENT 40.00 X 126351 0 22960 5803865 0 1940927 42 0 1 0 CA SOUTH LLC 800 BATTERY AVE STE 420 ATLANTA GA 30339 GENERAL CONTRACTOR 3095557 CARITHERS WALLACE COURTENAY LLC DBA CWC PO BOX 936195 ATLANTA GA 311936195 FURNITURE PURCHASES & OFFICE MOVES 1036065 SPECTRA CORPORATE PARTNERSHIPS 3601 S BROAD STREET PHILADELPHIA PA 19148 SPONSORSHIP - BIKE SHARE 375000 MARKET VALUATION SERVICES 2450 ATLANTA HWY SUITE 701 CUMMING GA 30040 APPRAISALS 298280 ACCENTURE LLP 161 N CLARK ST CHICAGO IL 60601 CONSULTING 278990 15 INTEREST ON LOANS 900099 70755915 70755915 OTHER INCOME 524298 22365256 22365256 FEE INCOME 522100 13689048 12556429 1132619 106810219 6317130 6317130 58392173 144394 56122897 136947 2269276 7447 2276723 2276723 115404072 105677600 1132619 8593853 229884 15000 4579050 6917164 22834286 2103679 3750337 1974987 219309 205774 4751196 12907331 5115682 314013 1795378 2426844 PROVISION FOR LOAN LOSS 17245012 LOAN SERVICING EXPENSE 7021415 PROFESSIONAL AND OUTSID 3539171 MISCELLANEOUS OPERATING 767630 177924 98891066 29216250 42594558 63126489 110169884 14885983 20769347 9234018 11026072 1665166697 1794971288 2916562 3017180 41382464 15137784 24048362 26244680 256799980 228468434 11679552 14485931 62571003 59857042 2139644896 2311604416 27188663 35425144 129039000 131789000 1760842404 1911054074 1917070067 2078268218 X 0 0 0 0 222574829 233336198 222574829 233336198 2139644896 2311604416 X 16513006 2012769 -7764406 X X 0 1 X 1 0 0 0 6461058 6461058 13742483 2475082 11267401 4114771 2124478 1990293 17064152 10538224 6525928 26244680 SHARE DRAFTS 361138335 REGULAR SHARES 731339975 MONEY MARKET SHARES 358125459 SHARE CERTIFICATES 192452724 IRA/KEOGH ACCOUNTS 160158862 OTHER SHARES 2235719 NONMEMBER DEPOSITS 105603000 1911054074 X 115404064 0 115404064 8 8 115404072 98891059 -7 -7 98891066 0 98891066 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER INTERNAL REVENUE CODE 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 NET OPERATING LOSS CARRYFORWARD AS OF THE 2016 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 AND 2016. THE CREDIT UNION'S 2015 AND SUBSEQUENT TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: ROUNDING 8. PART XII, LINE 2D - OTHER ADJUSTMENTS: ROUNDING -7. 1 CYSTIC FIBROSIS FOUNDATION 6931 ARLINGTON RD SUITE 200 BETHESDA MD 20814 131930701 501(C)(3) 10000 CHARITABLE DONATION RIGHT TO HIKE INC PO BOX 1210 DULUTH GA 30096 262516336 501(C)(3) 10000 CHARITABLE DONATION GEORGIA CREDIT UNION FOUNDATION 6705 SUGARLOAF PKWY STE 200 DULUTH GA 30097 581799727 501(C)(3) 7710 CHARITABLE DONATION GEORGIA'S OWN FOUNDATION INC 100 PEACHTREE ST NW STE 3250 ATLANTA GA 30303 474818845 501(C)(3) 64497 11524 FMV AUCTION/RAFFLE ITEMS/DONATED SERVICES CHARITABLE DONATION KING'S RIDGE CHRISTIAN SCHOOL 2765 BETHANY BEND RD APLHARETTA GA 30004 582600863 501(C)(3) 13000 CHARITABLE DONATION GEORGIA STATE UNIVERSITY FOUNDATION INC 1 PARK PLACE SUITE 533 ATLANTA GA 30303 586033185 501(C)(3) 100000 CHARITABLE DONATION OURSONG INC PO BOX 53405 ATLANTA GA 30355 113656911 501(C)(3) 6250 CHARITABLE DONATION 7 SCHOLARSHIPS 3 15000 PART I, LINE 2: ALL ASSISTANCE IS CURRENTLY COMPRISED OF DONATIONS TO 501(C)(3) CHARITABLE ORGANIZATIONS. X X 0 1 X X X X X 0 1 0 DAVID PRETER PRESIDENT/CEO - DIRECTOR 518372 0 199623 0 3010 0 654993 0 33634 0 1409632 0 0 0 JOHN CAREW III SVP STRATEGY 285216 0 255926 0 2411 0 152821 0 32746 0 729120 0 180000 0 KELLY M GARMON CMO 282006 0 367790 0 7091 0 113602 0 30729 0 801218 0 300000 0 CINDY BOYLES SVP ORGANIZATIONAL DEVELOP 218398 0 63048 0 841 0 148505 0 33737 0 464529 0 0 0 ERIC BROOME SVP ERM/GENERAL COUNSEL 235884 0 55080 0 561 0 176799 0 22124 0 490448 0 0 0 BONNIE J KIMMEY SVP LENDING 254568 0 57712 0 2411 0 60989 0 34457 0 410137 0 0 0 GREGORY GIBSON CFO 249728 0 56571 0 3564 0 58051 0 19365 0 387279 0 0 0 TERESA L MARTIN PRINCIPAL - ACCOUNTING 151828 0 26185 0 793 0 10917 0 30539 0 220262 0 0 0 KENNETH D BREHM PRINCIPAL - OPERATIONS OFFICER 146371 0 22914 0 1148 0 10678 0 27884 0 208995 0 0 0 ANTHONY STRIPLING VP - MORTGAGE OPERATIONS 140191 0 22645 0 1100 0 3438 0 27917 0 195291 0 0 0 DAVID A MARLOW PRINCIPAL - MEMBER IMPACT 159697 0 27083 0 12941 0 8262 0 11205 0 219188 0 0 0 LEE D NORRIS VP - FACILITIES & REAL EST 140126 0 28892 0 1939 0 7418 0 8202 0 186577 0 0 0 MICHAEL STONE AVP SYNDICATION LENDING 147411 0 19752 0 474 0 10055 0 7479 0 185171 0 0 0 MATTHEW HAVICE VP - ASSISTANT GENERAL COUNSEL 157544 0 23460 0 454 0 10859 0 10563 0 202880 0 0 0 BARBARA BURKETT VP - DEPOSITS & PAYMENTS 131135 0 20815 0 1836 0 9336 0 17557 0 180679 0 0 0 LORENZO BROWN VP-STRATEGIC TECHNICAL SOLUTIONS 173119 0 24250 0 3427 0 10894 0 15808 0 227498 0 0 0 KIMBERLY DUFFY VP - HR AND LEARNING 152257 0 15748 0 2060 0 7071 0 12072 0 189208 0 0 0 TODD LAMBRIGHT MORTGAGE SALES MANAGER 52600 0 117542 0 121 0 7456 0 502 0 178221 0 0 0 TIM THOMAS VP - MEMBER SERVICES CALL CENTER 124936 0 18710 0 3347 0 7764 0 14105 0 168862 0 0 0 KEVAN WILLIAMSON VP - INFORMATION SYSTEMS 123549 0 18614 0 1303 0 6249 0 25257 0 174972 0 0 0 RODNEY COWAN VP - INTERNAL AUDIT 119304 0 14478 0 871 0 8160 0 13449 0 156262 0 0 0 PART I, LINE 1A RICHARD BURNS (DIRECTOR) - TRAVEL FOR COMPANIONS DAVID RETER (CEO/PRESIDENT) - HEALTH/SOCIAL CLUB DUES PART I, LINE 1B THERE IS NO WRITTEN, BOARD APPROVED, POLICY COVERING THE PAYMENT OF DIRECTOR SPOUSE TRAVEL. WHEN SUCH PAYMENTS OCCUR THEY ARE INCLUDED IN TAXABLE COMPENSATION. THERE IS NO WRITTEN, BOARD APPROVED, POLICY COVERING HEALTH/SOCIAL CLUB DUES PAID FOR CEO/PRESIDENT. HOWEVER, IT IS ADDRESSED IN HIS EMPLOYMENT CONTRACT WHICH WAS SIGNED BY THE BOARD. PART I, LINE 4B DAVID PRETER - PARTICIPATED IN 457F PLAN - 2017 ACCRUAL $480,925 KELLY GARMON - PARTICIPATED IN 457F PLAN - 2017 ACCRUAL $51,267 - 2017 PAYOUT $300,000 JOHN CAREW III - PARTICIPATED IN 457F PLAN - 2017 ACCRUAL $84,275 - 2017 PAYOUT $180,000 ERIC BROOME - PARTICIPATED IN 457F PLAN - 2017 ACCRUAL $120,017 CINDY BOYLES - PARTICIPATED IN 457F PLAN - 2017 ACCRUAL $95,116 FORM 990, SCHEDULE J, PART II JOHN CAREW, SVP STRATEGY, IS PAID BY THE CU, HOWEVER OF JOHN'S TOTAL COMPENSATION AND BENEFITS FOR THE YEAR, $77,625 WAS RELATED TO SERVICES PROVIDED TO AFFINITY CREDIT UNION, AN UNRELATED PARTY, WHICH WAS REIMBURSED BY THEM. DAVID PRETER PRESIDENT/CEO SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 X 7801230 5968756 0 1 1 KELLY GARMON CMO SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 X 2194815 2157316 0 1 1 GREG GIBSON CFO SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 X 2900000 2900000 0 1 1 11026072 DAVID DICKEY BOARD MEMBER 761150 CU BOARD MEMBER, DAVID DICKEY, IS RELATED TO DICKEY BROADCASTING (BOARD MEMBER). THE CU CONDUCTS MARKETING, ADVERSTISING AND BRANDING BUSINESS WITH THIS ENTITY. 0 DAVID DICKEY BOARD MEMBER 409538 CU BOARD MEMBER, DAVID DICKEY, IS RELATED TO CUMULUS MEDIA (STOCKHOLDER). THE CU CONDUCTS MARKETING, ADVERSTISING AND BRANDING BUSINESS WITH THIS ENTITY. 0 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS COMPRISED OF A SINGLE CLASS OF APPROXIMATELY 186,501 MEMBER-OWNERS, EACH OF WHICH HAS EQUAL RIGHTS IN OWNERSHIP, GOVERNANCE AND VOTING RIGHTS AT THE ANNUAL MEETINGS. FORM 990, PART VI, SECTION A, LINE 7A CURRENT MEMBERS MAY ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL OF MEMBERS. THESE DECISIONS MAY ALSO BE SUBJECT TO SCRUTINY BY VARIOUS GOVERNMENTAL AGENCIES. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY BOTH THE CREDIT UNION'S CFO AND THE PRINCIPAL ACCOUNTING OFFICER AFTER BEING PREPARED BY THE CPA FIRM. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY IS REGULARLY AND CONSISTENTLY MONITORED AND ENFORCED BY THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION USES MCLAGAN, AN AON HEWITT COMPANY, TO CONSULT REGARDING COMPENSATION PRACTICES. THE CREDIT UNION PARTICIPATES IN AND PURCHASES SEVERAL COMPENSATION STUDIES, AND MCLAGAN ANALYZES THE DATA AND PROVIDES A WRITTEN REPORT TO THE COMPENSATION COMMITTEE OF THE BOARD. THIS INFORMATION IS PROVIDED ANNUALLY RELATED TO THE CEO, MOST RECENTLY IN 2017, AND BI-ENNIALLY RELATED TO OTHER OFFICERS, MOST RECENTLY IN 2017. THE COMPENSATION COMMITTEE RECOMMENDS AND APPROVES SALARY CHANGES FOR THE CEO, AND REVIEWS THE CEO'S DECISIONS FOR OTHER OFFICERS ANNUALLY. COMPENSATION OF KEY EMPLOYEES IS SUBJECT TO REVIEW AND APPROVAL OF THE CEO. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE MADE AVAILABLE TO MEMBERS UPON REQUEST. FORM 990, PART XI, LINE 9: OTHER COMPREHENSIVE INCOME -7,764,406. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. GEORGIA'S OWN FOUNDATION INC 1155 PEACHTREE ST ATLANTA GA 30309 474818845 FOUNDATION TO AWARD GRANTS GA 501(C)(3) LINE 7 GEORGIA'S OWN CREDIT UNION 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 0 GEORGIA'S OWN FOUNDATION INC B 82924 FMV GEORGIA'S OWN FOUNDATION INC L 91541 FMV