2017-11-15T15:52:52-06:00 2016-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2016-01-01 540674170 UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION UNIV 4349642001 3300 BERKMAR DRIVE CHARLOTTESVILLE VA 22901 PAMELA TURNER EVP/CFO 4349642003 2017-11-15 1 DOUGLAS J ORTH P01076394 3052328272 40.141.134.7 2017-11-15 16:51:36 ES P 6C9B1A35775087DBDB8A6D25ECA509C7F6C27838 062293E64DF58CF8D35332F263D6456F83B37FCF 2016 2021-01-29 14:40:06Z ALISON DETUNC Q 3300 BERKMAR DRIVE CHARLOTTESVILLE VA 22901 77449982 0 X WWW.UVACREDITUNION.ORG X 1954 VA THE MISSION OF THE UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION IS TO 1) ENCOURAGE THRIFT AMONG MEMBERSHIP, THUS CREATING A LENDABLE POOL OF FUNDS 2) MAKE MEMBER LOANS AT A REASONABLE RATE OF INTEREST 3) PAY A FAIR RATE OF RETURN ON MEMBER SAVINGS 4) PROVIDE HELPFUL MEMBER FINANCIAL SERVICE. 11 11 305 16 75580 25906 0 0 24166112 27197454 5403788 6428332 2417574 1778627 31987474 35404413 0 0 0 0 12227704 14558344 0 0 0 12785845 15420657 25013549 29979001 6973925 5425412 742617187 833153867 658577686 748792338 84039501 84361529 X THE MISSION OF THE UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION, INC. IS TO 1) ENCOURAGE THRIFT AMONG MEMBERSHIP, THUS CREATING A LENDABLE POOL OF FUNDS 2) MAKE MEMBER LOANS AT A REASONABLE RATE OF INTEREST 3) PAY A FAIR RATE OF RETURN ON MEMBER SAVINGS 4) PROVIDE HELPFUL MEMBER FINANCIAL SERVICE. 0 0 DURING 2016, UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION, INC., A STATE-CHARTERED CREDIT UNION LOCATED IN CENTRAL VIRGINIA, PROVIDED FINANCIAL SERVICES TO MEMBERS WHO LIVE, WORK, OR ATTEND SCHOOL IN THE CITY OF CHARLOTTESVILLE AND THE SURROUNDING COUNTIES OF ALBEMARLE, FLUVANNA, GREENE, LOUISA, MADISON, NELSON, FAUQUIER, RAPPAHANNOCK, CULPEPER, AND ORANGE. THE CREDIT UNION CONTINUED TO FULFILL ITS EXEMPT PURPOSE BY PROVIDING CREDIT AT FAIR AND REASONABLE RATES OF INTEREST, OFFERING COMPETITIVE SHARE DEPOSIT PRODUCTS, AND PROVIDING MEMBERS WITH THE OPPORTUNITY TO IMPROVE THEIR ECONOMIC CONDITION. DURING THE TAX YEAR, CREDIT UNION MEMBERSHIP INCREASED FROM 66,311 TO 72,877. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 1 0 0 1 14807 0 1 305 1 1 1 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 VA X PAMELA L TURNER 4349642003 3300 BERKMAR DRIVE CHARLOTTESVILLE VA 22901 JEFFREY C MOSCICKI CHAIRPERSON 1.00 1.00 X 0 0 0 AURIE W SCHWARTING V. CHAIRPERSON 1.00 1.00 X 0 0 0 CHARLES T GILLET BOD TREASURER 1.00 1.00 X 0 0 0 PAMELA W HIGGINS BOD SECRETARY 1.00 1.00 X 0 0 0 ROB W FREER BOD MEMBER 1.00 1.00 X 0 0 0 LISA P HEUCHERT BOD MEMBER 1.00 1.00 X 0 0 0 MARIE C MELTON BOD MEMBER 1.00 1.00 X 0 0 0 RICHARD L WOOD BOD MEMBER 1.00 1.00 X 0 0 0 RON T WILCOX BOD MEMBER 1.00 1.00 X 0 0 0 KENNETH EADES BOD MEMBER 1.00 1.00 X 0 0 0 BARRY JONES BOD MEMBER 1.00 1.00 X 0 0 0 A DETUNCQ CEO 40.00 X 421012 0 45479 P TURNER EVP/CFO 40.00 X 228935 0 50409 K O'NEIL COO 40.00 X 73053 0 12101 K GILLISPIE VP OF OPERATIONS 40.00 X 144636 0 40548 L ROBINSON SVP ADMINISTRATION 40.00 X 157490 0 35170 T LINCOLN VP OF LENDING 40.00 X 141301 0 33318 M MAYNARD VP OF HUMAN RESOURCES 40.00 X 134328 0 23850 E DUNSTAN SVP BUSINESS BANKING 40.00 X 131166 0 30561 1431921 0 271436 7 0 1 0 FIS 11601 N ROOSEVELT BLVD ST PETERSBURG FL 33716 DEBIT/CREDIT CARD PROCESSING 2377424 Q2EBANKING PO BOX 205970 DALLAS TX 75320 ONLINE/MOBILE BANKING 1301038 FISERV PO BOX 300016 DULUTH GA 30096 OPERATING SYSTEM SOFTWARE 742029 DIEBOLD PO BOX 643543 PITTASBURG PA 15264 DRIVE THRU, CASH RECYCLER & ATM PURCHASE 532144 THIRD DEGREE ADVERTISING & COMMUNICATION 102 WEST EUFAULA SUITE 200 NORMAN OK 73069 ADVERTISING DEVELOPMENT 316380 14 INCOME ON LOANS 522100 17270055 17270055 FEES/CHARGES/OTHER 522100 9851819 9851819 UNRELATED BUSINESS INCOME 900099 75580 75580 27197454 6402963 6402963 132949 140732 -7783 -7783 -7783 41893993 36213 41839947 64890 54046 -28677 25369 25369 GAIN ON MORTGAGE LOANS 522100 1331144 1331144 OTHER INCOME 522100 455266 455266 1786410 35404413 35328833 75580 0 X 830989 10508667 934477 1474932 809279 34252 147092 1338179 1002081 1580319 999342 547596 325302 11420 1915752 70579 1087638 225962 PROVISION FOR LOAN LOSS 1498277 MAINTENANCE/LEASED EQUI 1448839 DEBIT CARD FEES 1184265 LOAN SERVICING 967833 1035929 29979001 7439650 8751058 48429887 90436414 304616 394887 7163323 7839185 321495214 362202774 1859037 1270947 27373917 11616063 15080681 15757854 323483195 323753609 926302 1045857 16435282 21701282 742617187 833153867 8077776 9058900 650499910 739733438 658577686 748792338 X 0 0 0 0 84039501 84361529 84039501 84361529 742617187 833153867 X 5425412 -5340292 236908 X X 0 1 X 1 0 5007267 5007267 12490477 4347342 8143135 665744 459228 206516 9210429 6809493 2400936 15757854 SHARE DRAFTS 164739350 SHARES 304040090 MONEY MARKET 137054780 IRA SHARES 45647525 CERTIFICATES OF DEPOSIT 88251693 739733438 X 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. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE CONSOLIDATED 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 UPON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (UBI) DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE (IRS) RELEASED TECHNICAL ADVICE MEMORANDUMS (TAMS) TO SPECIFIC STATE-CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). UBI MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. MANAGEMENT HAS ASSESSED THE CREDIT UNION'S ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY AND DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2015, 2014, AND 2013 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS. THE FILING YEARS OPEN FOR EXAMINATION BY THE STATE, IF APPLICABLE, MAY BE EQUAL TO, GREATER THAN OR LESS THAN THE YEARS OPEN FOR EXAMINATION BY THE IRS. X X 1 1 X X 0 0 0 A DETUNCQ CEO 396169 0 16119 0 8724 0 35500 0 9979 0 466491 0 0 0 P TURNER EVP/CFO 211311 0 9051 0 8573 0 32810 0 17599 0 279344 0 0 0 K GILLISPIE VP OF OPERATIONS 132086 0 5819 0 6731 0 24001 0 16547 0 185184 0 0 0 L ROBINSON SVP ADMINISTRATION 145604 0 6139 0 5747 0 24891 0 10279 0 192660 0 0 0 T LINCOLN VP OF LENDING 134001 0 5800 0 1500 0 23462 0 9856 0 174619 0 0 0 M MAYNARD VP OF HUMAN RESOURCES 127270 0 5408 0 1650 0 14808 0 9042 0 158178 0 0 0 E DUNSTAN SVP BUSINESS BANKING 127390 0 3364 0 412 0 5746 0 24815 0 161727 0 0 0 PAMELA TURNER EXECUTIVE EMPLOYEE TO FUND DEFERRED COMPENSATION X 240000 960000 0 1 1 KAREN GILLISPIE EXECUTIVE EMPLOYEE TO FUND DEFERRED COMPENSATION X 160000 640000 0 1 1 LESLIE ROBINSON EXECUTIVE EMPLOYEE TO FUND DEFERRED COMPENSATION X 130000 520000 0 1 1 ALISON DETUNCQ EXECUTIVE EMPLOYEE TO FUND DEFERRED COMPENSATION X 5573323 5719185 0 1 1 7839185 FORM 990, PART VI, SECTION A, LINE 6 UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION IS OWNED BY ITS MEMBERSHIP. EACH MEMBER OWNS ONE SHARE WHICH ENTITLES THAT INDIVIDUAL TO ONE VOTE IN THE ELECTION OF THE CREDIT UNION'S VOLUNTEER BOARD OF DIRECTORS. MEMBERSHIP IS SECURED BY A $5 PAR VALUE WHICH THE MEMEBER MUST MAINTAIN IN HIS OR HER PRIMARY SHARE SAVINGS ACCOUNT. MEMBERSHIP IS OPEN TO ANY PERSON WHO LIVES, WORKS, OR ATTENDS SCHOOL IN THE CITY OF CHARLOTTESVILLE OR THE COUNTIES OF ALBEMARLE, FLUVANNA, GREENE, LOUISA, MADISON, NELSON, OR ORANGE. ANY ONE RELATED TO A CURRENT MEMBER BY BLOOD, MARRIAGE, OR ADOPTION IS ALSO ELIGIBLE TO JOIN. FORM 990, PART VI, SECTION A, LINE 7A THE UNIVERISTY OF VIRGINIA COMMUNITY CREDIT UNION IS A MEMBER-OWNED FINANCIAL INSTITUTION. EACH MEMBER OWNS ONE SHARE WHICH ENTITLES THAT INDIVIDUAL TO ONE VOTE WHICH MAY BE EXCERCISED ANNUALLY FOR THE ELECTION OF A VOLUNTEER BOARD OF DIRECTORS. 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 THE FORM 990 WILL BE REVIEWED BY THE EXECUTIVE VICE PRESIDENT WHERE ALL THE DATA USED TO COMPILE THE FORM 990 CAME FROM THE AUDITED FINANCIALS AND WORKPAPERS BY THE EXTERNAL AUDITORS. FORM 990, PART VI, SECTION B, LINE 12C ALL OFFICERS AND DIRECTORS ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST STATEMENT ANNUALLY. IF ANY INDIVIDUAL WERE TO REPORT A CONFLICT OF INTEREST, THE SPECIFIC SITUATION WOULD BE REVIEWED AND MANAGED AS DEEMED APPROPRIATE BY THE REMAINING BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION RETAINS THE SERVICES OF AN EXTERNAL COMPENSATION CONSULTING FIRM WHICH PROVIDES MARKET AND PEER GROUP COMPENSATION COMPARISON DATA. THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS UTILIZES THIS DATA DURING THE PROCESS OF DETERMINING AND APPROVING COMPENSATION FOR THE CREDIT UNION'S CEO. THE CEO IN CONJUNCTION WITH THE CREDIT UNION'S HUMAN RESOURCES DEPARTMENT UTILIZES THIS DATA WHEN DETERMINING AND APPROVING THE COMPENSATION FOR THE CREDIT UNION'S OFFICERS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY HAVE NOT BEEN MADE READILY AVAILABLE TO THE GENERAL PUBLIC. IF WE WERE TO RECEIVE A REQUEST FOR ANY SUCH DOCUMENTS, WE WOULD CAREFULLY CONSIDER THE REQUEST AND RESPOND APPROPRIATELY. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE POSTED MONTHLY IN THE BRANCH FACILITIES. FORM 990, PART IX, LINE 24E FRAUD EXPENSE 433,944. MISC. EXPENSES 393,177. TAXES 208,808. FORM 990, PART XI, LINE 9: RECLASSIFICATION ADJUSTMENT FOR NET INVESTMENT GAINS -54,046. EQUITY ACQUIRED THROUGH BUSINESS COMBINATION 290,954. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES REPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. MEMBER OPTIONS LLC 1936 ARLINGTON BLVD CHARLOTTESVILLE VA 22901 061652426 CONSUMER MORTGAG ORIGINATIONS VA 1870807 4297359 UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION MEMBER TITLE & ESCROW LLC 1936 ARLINGTON BLVD CHARLOTTESVILLE VA 22901 061652427 REAL ESTATE TITLE & ESCROW SERVICES VA 349520 1287413 UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION