2018-10-01T15:42:07-05:00 2017-12-31 410746749 CLIFTONLARSONALLEN LLP PO BOX 217 AUSTIN MN 55912 990 2017-01-01 741951016 FIRST SERVICE CREDIT UNION FIRS 7136768944 16430 PARK TEN PLACE HOUSTON TX 77084 JANA HEATON CHIEF FINANCIAL OFFICER 7136768944 2018-09-19 1 MARTY LIENAU P00001025 5074347000 2018-09-18 67.137.57.251 2018-09-19 13:01:13 CD P 356E76376044E692544D6A37DDF1E0572DA6BBCB AE419FF41DEE4B5733E7E5F8E31ABE2574D75352 2017 2018-06-14 16:35:46Z DAVID BLEAZARD 16430 PARK TEN PLACE HOUSTON TX 77084 49150050 0 X WWW.FSCU.COM X CU 1977 TX FIRST SERVICE CREDIT UNION IS A COOPERATIVE CREDIT UNION THAT PROVIDES FINANCIAL PRODUCTS AND SERVICES TO MEMBERS. 8 8 240 14 659301 -26822 0 0 41736158 44545641 1103703 2362513 0 0 42839861 46908154 0 0 3122839 4236224 13807802 14904223 0 0 0 22297395 23419077 39228036 42559524 3611825 4348630 622183577 696939493 560977328 631505062 61206249 65434431 FIRST SERVICE CREDIT UNION IS A COOPERATIVE CREDIT UNION THAT PROVIDES FINANCIAL PRODUCTS AND SERVICES TO MEMBERS. 0 0 FIRST SERVICE CREDIT UNION OFFERS SAVINGS ACCOUNTS TO MEMBERS OF ALL AGES THAT PAY DIVIDENDS ON A MONTHLY BASIS. WE HAD APPROXIMATELY 57,877 MEMBER-OWNED SAVINGS ACCOUNTS AS OF DECEMBER 31, 2017. MEMBERS CAN ACCESS THEIR SAVINGS ACCOUNTS THROUGH OUR BRANCH NETWORK, INCLUDING OUR NATIONWIDE SHARED BRANCHING NETWORK. MEMBERS CAN ALSO ACCESS THEIR SAVINGS ACCOUNTS VIA HOME BANKING, TELEPHONE, MOBILE DEVICES AND ATMS. WE ALSO OFFER SPECIAL SAVINGS ACCOUNTS FOR CHILDREN AND TEENAGERS TO ENCOURAGE THE DEVELOPMENT OF CONSISTENT SAVINGS HABITS. FIRST SERVICE CREDIT UNION OFFERS CHECKING ACCOUNTS FOR OUR MEMBERS. SOME OF OUR CHECKING ACCOUNTS PAY DIVIDENDS ON A MONTHLY BASIS. CHECKING ACCOUNTS CAN BE ACCESSED THROUGH OUR BRANCH NETWORK AND A NATIONWIDE SHARED BRANCHING NETWORK. MEMBERS CAN ALSO ACCESS THEIR CHECKING ACCOUNTS VIA HOME BANKING, TELEPHONE, MOBILE DEVICES AND ATMS. MEMBERS CAN ALSO PAY BILLS ONLINE USING OUR FREE BILL PAY SERVICE. FIRST SERVICE CREDIT UNION PROVIDES LOANS TO MEMBERS FOR A VARIETY OF LOAN TYPES SUCH AS NEW AND USED AUTOS, UNSECURED, BOAT, MOTORCYCLE, RECREATIONAL, AND REAL ESTATE AT VERY COMPETITIVE RATES WITH NO PRE-PAYMENT PENALTIES. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 5965 0 1 240 1 1 1 0 0 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 0 1 1 0 1 1 1 0 0 0 X JANA HEATON CFO 7136768944 16430 PARK TEN PLACE HOUSTON TX 77084 JANET HILL CHAIR 1.00 X X 0 0 0 JAMES HARKRIDER SECRETARY 1.00 X X 0 0 0 KOURTNEY CALHOUN VICE CHAIR 1.00 X X 0 0 0 PAUL LOVE DIRECTOR 1.00 X 0 0 0 DOUG ESMOND TREASURER 1.00 X X 0 0 0 DAVID ITZ DIRECTOR 1.00 X 0 0 0 MERV SWAN DIRECTOR 1.00 X 0 0 0 WAYNE TAYLOR DIRECTOR 1.00 X 0 0 0 DAVID BLEAZARD PRESIDENT/CEO 50.00 X 386550 0 281944 JANA HEATON CFO 50.00 X 159217 0 45872 DEBRA LITTLE CLO 50.00 X 155332 0 49941 MICHAEL MCWETHY EVP 50.00 X 247494 0 181593 FRANK HALSTEAD CIO 50.00 X 166637 0 30103 JACQUELINE ADAMAS VP OF ECU MORTGAGE 50.00 X 145138 0 15949 JOHN JACKSON CAO 50.00 X 155864 0 33035 1416232 0 638437 12 0 1 0 BYRD INTERIOR CONSTRUCTION 2123 W GOVERNORS CIRCLE STE 100 HOUSTON TX 77084 BUILDING RENOVATION 2473765 WESTERN CONSTRUCTION GROUP 1637 NORTH WARSON RD ST LOUIS MO 63132 BUILDING RENOVATION 669202 BURTON CONSTRUCTION 10550 WESTPARK DRIVE HOUSTON TX 77042 BUILDING RENOVATION 425413 US POSTMASTER 4929 BLALOCK RD HOUSTON TX 77041 DATA & MAILING RESOURCES 417440 ROBERT HALF TECHNOLOGY PO BOX 743295 LOS ANGELES CA 900743295 TEMP AGENCY 373369 12 LOAN INTEREST 522100 27444352 27444352 OTHER FEES & CHARGES 522100 9395097 8735796 659301 OTHER OPERATING INCOME 522100 7706192 7706192 44545641 1372533 1372533 269876 2962000 281121 1960775 -11245 1001225 989980 989980 46908154 43886340 659301 2362513 4236224 873583 11091619 376112 1638676 924233 105595 57422 509237 2775256 1607949 3193854 1703843 238896 191849 1618047 PROVISION FOR LOAN LOSS 8529624 LOAN SERVICING EXPENSE 1655994 OTHER EXPENSES 587520 SECURITY EXPENSE 423379 220612 42559524 32292944 26399510 638287 1587759 484625384 535688716 1017123 862171 34676202 4853663 27066238 29822539 51174679 70257411 3951930 10265249 2554428 1880051 18862564 20176087 622183577 696939493 13393154 17049973 345935 565499 30000000 15000000 517238239 598889590 560977328 631505062 X 0 0 0 0 61206249 65434431 61206249 65434431 622183577 696939493 4348630 -121472 1024 0 X X 0 1 X 1 0 0 1 X 8793624 8793624 15780880 963446 14817434 679222 246536 432686 7276658 3544222 3732436 2145818 99459 2046359 29822539 MEMBER SHARES AND CDS 598889590 598889590 X PART IV, LINE 2B: THE CREDIT UNION HOLDS FUNDS IN ESCROW TO PAY TAXES AND INSURANCE ON BEHALF OF ITS MORTGAGE LOAN MEMBERS. 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 TAX YEARS ENDED DECEMBER 31, 2017 AND 2016, MANAGEMENT HAS DETERMINED THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. THE CREDIT UNION OWNS A MAJORITY INTEREST IN THE COSOLIDATED CUSOS. THE INCOME FROM THE CREDIT UNION'S WHOLLY OWNED CUSOS, IS SUBJECT TO FEDERAL AND STATE INCOME TAXES. X 1 1 X X X X X 0 1 0 DAVID BLEAZARD PRESIDENT/CEO 318477 0 56495 0 11578 0 265057 0 16887 0 668494 0 0 0 JANA HEATON CFO 146692 0 12525 0 0 0 39737 0 6135 0 205089 0 0 0 DEBRA LITTLE CLO 142510 0 12822 0 0 0 44340 0 5601 0 205273 0 0 0 MICHAEL MCWETHY EVP 227958 0 19306 0 230 0 167306 0 14287 0 429087 0 0 0 FRANK HALSTEAD CIO 154310 0 12327 0 0 0 16608 0 13495 0 196740 0 0 0 JACQUELINE ADAMAS VP OF ECU MORTGAGE 132253 0 12885 0 0 0 14989 0 960 0 161087 0 0 0 JOHN JACKSON CAO 142258 0 13606 0 0 0 16474 0 16561 0 188899 0 0 0 PART I, LINE 1A DAVID BLEAZARD - GOLF CLUB MEMBERSHIP IS PROVIDED FOR THE CEO THAT IS USED PRIMARILY FOR BUSINESS USE, BUT THE CLUB ACCESS IS AVAILABLE FOR PERSONAL USE. THE PORTION USED FOR PERSONAL USE IS TAXED TO THE CEO. - PERSONAL USE FOR 2017 WAS $8,359 - INCLUDED IN TAXABLE INCOME DAVID BLEAZARD - PERSONAL USE OF COMPANY VEHICLE - $2,438 - INCLUDED IN TAXABLE INCOME PART I, LINE 4B DAVID BLEAZARD, PRESIDENT/CEO - PARTICIPATED IN NON-QUALIFIED RETIREMENT PLAN, NO DISTRIBUTIONS IN 2017,ACCRUAL OF $235,788. MIKE MCWETHY, COO - PARTICIPATED IN NON-QUALIFIED RETIREMENT PLAN, NO DISTRIBTUIONS IN 2017, ACCRUAL OF $141,333. JANA HEATON, CFO - PARTICIPATED IN NON-QUALIFIED RETIREMENT PLAN, NO DISTRIBUTIONS IN 2017, ACCRUAL OF $23,214. DEBRA LITTLE, CLO - PARTICIPATED IN NON-QUALIFIED RETIREMENT PLAN, NO DISTRIBUTIONS DURING 2017, ACCRUAL OF $28,350. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS (PATRONAGE DIVIDENDS WERE NOT PAID IN 2017). FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. 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 FORM 990 IS REVIEWED BY THE CFO AND CEO, ALONG WITH THE BOARD OF DIRECTORS, PRIOR TO BEING FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE EMPLOYEE HANDBOOK CLEARLY DEFINES WHEN A CONFLICT OF INTEREST ARISES AND REQUIRES EACH EMPLOYEE TO MAKE PROMPT AND FULL DISCLOSURE TO THE PRESIDENT/CEO OF ANY SITUATION THAT MAY INVOLVE AN EXISTING OR A POTENTIAL CONFLICT OF INTEREST. BOARD AND COMMITTEE MEMBERS SHOULD MAKE SUCH DISCLOSURE TO THE BOARD CHAIR. EMPLOYEES SIGN AN ACKNOWLEDGEMENT ANNUALLY STATING THAT THEY WILL REPORT ANY CONFLICTS OF INTEREST. ADDITIONALLY, EMPLOYEES ARE ENCOURAGED TO GO TO THE COMPLIANCE OFFICER FOR CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD HIRES AN INDEPENDENT COMPENSATION CONSULTANT TO CONDUCT A MARKET RATE ANALYSIS OF THE TOTAL COMPENSATION PACKAGE FOR THE CEO/PRESIDENT OF THE CREDIT UNION. THE BOARD REVIEWS THE CONSULTANT'S FINDINGS, DETERMINES AND APPROVES THE COMPENSATION PACKAGE FOR THE CEO/PRESIDENT. WE CONDUCT COMPENSATION SURVEYS FOR OTHER OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION IN ORDER TO DETERMINE PAY INCREASES BASED ON THE LEVEL OF RESPONSIBILITY WITHIN THE CREDIT UNION AND INDIVIDUAL JOB PERFORMANCE. FORM 990, PART VI, SECTION C, LINE 19 DISCLOSED ON OUR WEBSITE (WWW.FSCU.COM) - THE FOLLOWING DOCUMENTS ARE AVAILABLE FOR MEMBERS TO REVIEW BY CONTACTING THE CREDIT UNION IN WRITING AND PROVIDING AN ADDRESS TO SEND THE REQUESTED INFORMATION: 1 - SUMMARY OF THE MOST RECENT ANNUAL AUDIT, 2 - BALANCE SHEET AND INCOME STATEMENT, 3 - IRS FORM 990, 4 - WRITTEN BOARD POLICY REGARDING ACCESS TO ARTICLES OF INCORPORATION, BY LAWS, RULES, GUIDELINES, BOARD POLICIES AND COPIES THEREOF. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FSCU MORTGAGE LLC DBA ECU MORTGAGE LLC 16430 PARK TEN PLACE HOUSTON TX 77084 461770128 MORTGAGES HELD FOR SALE TX 170195 3328275 FIRST SERVICE CREDIT UNION ECU TECHNOLOGY LLC 16430 PARK TEN PLACE HOUSTON TX 77084 475036601 APPLICATION SERVICE PROVIDERS TX 283268 1394517 FIRST SERVICE CREDIT UNION