2017-11-13T14:04:20-06:00 2016-12-31 350921680 CROWE HORWATH LLP 9600 Brownsboro Road Suite 400 Louisville KY 402411122 990 2016-01-01 610654642 Park Community Credit Union Inc PARK 5028156014 2515 Blankenbaker Parkway LOUISVILLE KY 40299 James Spradlin CEO 2017-11-13 true Rachel Spurlock P00520729 5023263996 2016 2017-02-10 21:41:12Z James Spradlin 2515 Blankenbaker Parkway LOUISVILLE KY 40299 211405234 false X www.parkcommunity.com X 2013 KY Park Community Credit Union (the "Credit Union" or "Park") is a state chartered cooperative association organized for the purpose of promoting thrift among, and creating a source of credit for its members. 7 7 302 12 331092 320899 0 36016523 40440922 3703847 3289852 0 39720370 43730774 7613 0 0 12744483 14638981 0 0 22600056 23985912 35352152 38624893 4368218 5105881 778730637 798873865 711522613 727187174 67208024 71686691 Park Community Credit Union (the "Credit Union" or "Park") is a state chartered cooperative association organized for the purpose of promoting thrift among, and creating a source of credit for its members. false false PARK COMMUNITY CREDIT UNION (THE "CREDIT UNION" OR "PARK") IS A STATE CHARTERED COOPERATIVE ASSOCIATION ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AMONG, AND CREATING A SOURCE OF CREDIT FOR, ITS MEMBERS. THE CREDIT UNION PROVIDES MORTGAGE, VEHICLE AND OTHER CONSUMER LOANS TO ITS MEMBERSHIP. THE CREDIT UNION ALSO OFFERS A VARIETY OF ACCOUNTS FOR MEMBERS TO TRANSACT AND SAVE, INCLUDING SHARE AND SHARE DRAFT ACCOUNTS AND SHARE CERTIFICATES. AS A MEMBER-OWNED ORGANIZATION, THE CREDIT UNION STRIVES TO PROVIDE COMPETIVE INTEREST AND DIVIDEND RATES TO ITS MEMBERSHIP AND CONVENIENCE WAYS FOR MEMBERS TO THEIR ACCOUNTS, INCLUDING ONLINE AND MOBILE BANKING AND SHARED BRANCHING SERVICES. 0 false false false false false false false true false true false false false true true true false false false false false false false false false false false false true false false false false false false false false false false false false false false true 114 0 true 302 true true true false false false false false X 7 7 false false false false true true false true true false true true true true true true true true true true false X Melissa McGill 5029683681 2515 Blankenbaker Parkway Louisville KY 40299 Mark Loyd Chairman 1.0 X X 0 0 0 Thomas Hendrix 1st Vice Chairman 1.0 X X 0 0 0 Phyllis Hughes 2nd Vice Chairman 1.0 X X 0 0 0 Bobby Willoughby Secretary/Treasurer 1.0 X X 0 0 0 Dennis Munn Director 1.0 X 0 0 0 Joseph Ackerman Director 1.0 X 0 0 0 Penny Gold Director 1.0 X 0 0 0 James Spradlin President/CEO 40.0 X 346612 0 49439 David Shadburne Executive Vice President 40.0 X 185003 0 25825 Sandra Gogan SVP of Retail Operations 40.0 X 172950 0 18651 Sharon Thompson SVP of HR & Organizational Development 40.0 X 133096 0 16763 Lisa Bannon SVP of Support Operations 40.0 X 130083 0 27854 James Perkins SVP of Information Technology 40.0 X 137959 0 12003 Steve Loftis VP of Facilities 40.0 X 112046 0 8034 Carolyn Riggs VP of Marketing & Business Development 40.0 X 124771 0 14599 Melissa McGill VP OF FINANCE 40.0 X 120986 0 16662 Julia Blackwell-Aguilar VP of Lending 40.0 X 99593 0 8232 Jeff Thornton VP of Electronic Services 40.0 X 92305 0 2768 Donna Baugh AVP of Retail Operations 40.0 X 100994 0 3828 Cindy Bingham AVP of Retail Operations 40.0 X 95039 0 23150 Chris Roberts Indirect Dealer Rep 40.0 X 108243 0 13507 1959680 0 241315 14 false true false Kelley Construction INC PO Box 1362 Indianapolis IN 46206 Branch contruction 848270 Windstream Communications PO Box 9001950 Louisville KY 40290 Communication Services 591491 QSI Inc 107 Schular DR Bardstown KY 40004 Security/various other 428225 MEDIA FIX LLX 9470 LAGRANGE RD LAGRANGE KY 40031 MARKETING/ADVERTISING 425918 Intercontinental 5901 Broken Sound Parkway Suite 400 Boca Raton FL 33487 Warranty sales 397828 30 0 0 Interest on loans 522291 27569429 27569429 Fees and service charges 522190 12028904 12028904 ATM SURCHARGE/WARRANTIES/LIFE INSURANCE 522100 331092 331092 Credit Union owned life insurance 524113 511497 511497 0 0 0 0 40440922 950771 950771 0 0 3814423 166199118 3777647 163896813 36776 2302305 2339081 2339081 0 0 0 0 0 43730774 40109830 331092 3289852 1827582 10340982 672163 886424 911830 33971 93353 240440 0 0 0 1199527 3887634 1094156 2688315 60823 247526 5002001 1984295 Provision for Loan Loss 4940432 Loan Servicing Expenses 1756926 Bad Debt Expense 428819 Dues and Subscriptions 154829 172865 0 0 0 38624893 0 0 0 13179441 16051243 62490625 32711318 2002219 2751232 0 0 0 570736799 638965110 771814 679808 47848538 14196148 34304466 33652390 24742636 34795139 357958 392275 14517621 10379537 760875 1180628 54866183 27315185 778730637 798873865 4913716 5640306 4228 376574 745767 854487 0 705858902 720315807 711522613 727187174 X 67208024 71686691 67208024 71686691 778730637 798873865 X 5105881 -63066 -564148 X false true X true false false true X 10807411 10807411 22252070 4989644 17262426 969124 210005 759119 13477587 8872138 4605449 342346 124361 217985 33652390 Other Liabilities 5543284 Member share and savings accounts 714772523 720315807 X 43730774 0 0 43730774 0 0 43730774 38624893 0 0 38624893 0 0 38624893 Schedule D, Part IV, Line 2b Explanation of escrow agreement Park's escrow account consist of mortgage payments that consist of taxes and insurance that is included as payment for our mortgage loans. The taxes and insurance payments are held in the escrow account and then made on behalf of the members at the due date of the taxes and the insurance, respectively. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The Credit Union is exempt, by statute, from federal and state income taxes on income derived from providing financial services to its members. Net income derived from other sources, such as non-member ATM fees, is taxable at the statutory corporate rate. No income tax expense was incurred in 2016. X true true X X X false true false James Spradlin President/CEO 269704 0 42750 0 34158 0 36602 0 12837 0 396051 0 0 0 David Shadburne Executive Vice President 164874 0 12000 0 8129 0 1261 0 24564 0 210828 0 0 0 Sandra Gogan SVP of Retail Operations 141999 0 15500 0 15451 0 5281 0 13370 0 191601 0 0 0 Lisa Bannon SVP of Support Operations 112365 0 15000 0 2718 0 2685 0 25169 0 157937 0 0 0 Schedule J, Part I, Line 1a Travel for companions PERSON WHO RECEIVED THE BENEFIT: WILLIAM HUGHES, HUSBAND OF PHYLLIS HUGHES (BOARD MEMBER) TYPE OF BENEFIT: TRAVEL TO CONFERENCE A 1099 WAS ISSUED FOR THE AMOUNT. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan James Spradlin 457f Plan - Contract for retention; Investment made, CEO will be paid the earning from the investment if he works to December 31, 2024. Benefit will be payable no later than February 28, 2025. Estimated earnings payable is $1.6 million at time of initial investment. Form 990, Part VI, Line 6 Classes of members or stockholders The organization has members who have the right to participate in the organization's governance. Members of the organization have the right to elect the 7 members of the governing body/ board of directors, serving 3 year terms. The organization does not have classes of membership. All members have one share of the credit union and are entitled to one vote. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body See Form 990, Part VI, Line 6 narrative. Form 990, Part VI, Line 11b Review of form 990 by governing body The preparation of the Form 990 is led by the Vice President of Finance and coordinated with other senior leadership individuals within the credit union. Once the Form 990 is prepared, it is reviewed by the Executive Vice President and Chief Executive Officer of the credit union. The Board of Directors are provided a copy of the Form 990 prior to filing. Form 990, Part VI, Line 12c Conflict of interest policy THE CREDIT UNION'S CONFLICT OF INTEREST POLICY APPLIES TO ALL DIRECTORS, MANAGEMENT OFFICIALS AND HIGHEST PAID EMPLOYEES. CONFLICTS OF INTEREST QUESTIONNAIRES WERE SENT TO ALL INTERESTED PERSONS TO IDENTIFY POTENTIAL OR ACTUAL CONFLICTS OF INTEREST. THE COMPLIANCE DIRECTOR REVIEWS THE COMPLETED QUESTIONNAIRES TO DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS. IF A PARTICULAR DIRECTOR HAS A CONFLICT OF INTEREST, THAT DIRECTOR WOULD NOT BE PERMITTED TO VOTE ON A TOPIC RELATED TO THE CONFLICT. Form 990, Part VI, Line 15a Process to establish compensation of top management official The salary plan used by the credit union for the top management official utilizes market salary data and job grade ranges. The credit union's compensation committee reviews and approves the compensation of the chief executive officer and documents deliberations and decision making regarding this compensation in the minutes of the compensation committee meeting. The compensation plan is updated annually through the use of a third party vendor to ensure it remains current. The last update was October 2016. Form 990, Part VI, Line 15b Process to establish compensation of other employees The salary plan used by the credit union for all positions, including all officers and key employees, utilizes market salary and job grade ranges. The Compensation plan is updated annually through the use of a third Party vendor to ensure it remains current. The compensation committee reviews and approves the plan. The last update was October 2016. Form 990, Part VI, Line 19 Required documents available to the public If a credit union's conflict of interest policy or governing document is specifically requested by a member, the member would be allowed to review the policy or document. Financial information for the credit union is available through the National Credit Union Administration's website and is posted in the offices of the credit union. Form 990, Part XI, Line 9 Other changes in net assets or fund balances Other Comprehensive Income for Defined Benefit Pension Plans - -564148;