2016-10-28T11:32:53-00:00 2015-12-31 BKD LLP 201 N Illinois St Indianapolis IN 46204 990 2015-01-01 350779057 FORUM CREDIT UNION FORU 3175586000 PO BOX 50738 INDIANAPOLIS IN 46250 Jeffry Welch Chief Financial Officer 3175586238 2016-10-28 true Douglas E Born CPA 3173834000 2016-10-28 2015 2017-02-10 21:41:12Z DOUGLAS TRUE PO BOX 50738 INDIANAPOLIS IN 46250 60789201 false X WWW.FORUMCU.COM X 1941 IN FORUM CREDIT UNIONS MISSION IS TO BE AN INNOVATIVE, DYNAMIC, RESPONSIVE FINANCIAL SERVICES ORGANIZATION THAT PROVIDES PRODUCTS AND SERVICES THAT CREATE VALUE FOR ITS MEMBERS. 9 7 375 12 1332086 140747 0 50713438 54419868 1017268 1302229 1143567 1593272 52874273 57315369 150000 150000 0 20875827 22185013 0 0 25757805 29419148 46783632 51754161 6090641 5561208 1020561637 1115079053 900166133 989018486 120395504 126060567 FORUM IS A 501C14 EXEMPT ORGANIZATION THAT IS OPERATED FOR MUTUAL PUPOSES AND WITHOUT PROFIT THAT 1PROMOTE THRIFT AMONG MEMBERS AND 2PROVIDE LOW COST CREDIT FOR MEMBERS. ITS COLLECTIVE CHARGE IS TO BE AN INNOVATIVE, DYNAMIC, AND RESPONSIVE FINANCIAL SERVICES ORGANIZATION PROVIDING PRODUCTS AND SERVICES THAT CREATE VALUE FOR ITS MEMBERS. false false PROVIDING LOW COST CREDIT FOR MEMBERS IS THE BASIC FUNCTION OF A CREDIT UNION. THE COOPERATIVE NATURE OF THE CREDIT UNION ALLOWS FOR MARKET LENDING RATES TO BE OFFERED FOR MORTGAGE LOANS, HOME EQUITY LOANS, AUTO LOANS AND PERSONAL LOANS. IN ADDITION, FORUM WORKS CLOSELY WITH THE FHA AND OTHER HOME OWNERSHIP ORGANIZATIONS TO HELP CONSUMERS REALIZE THE DREAM OF OWNING A HOME. FORUM ORIGINATED OVER 632 MILLION IN LOANS PER YEAR IN ITS EFFORTS TO MEET MEMBERS LENDING NEEDS. false false true false false false false false false true false false false true false false true false false false false false false false false false true false true false false false true true true false false false false true true true true false true 42778 0 true 375 true true true false false false false false X 9 7 false false false false true true false true true false true true true true true true true true true false false IN X JULIA CLARK 3175586216 11313 USA PARKWAY INDIANAPOLIS IN 46250 RICK RAMBO TREASURER 005.00 X X 956 0 0 TRACY MILLS SECRETARY 005.00 X X 1202 0 0 MAX FALL VICE CHAIRMAN 005.00 X X 645 0 0 JOHN DIERDORF CHAIRMAN 005.00 X X 608 0 0 DOREEN LONG DIRECTOR 005.00 X 0 0 0 KEVIN HUNT DIRECTOR 005.00 X 0 0 0 SANDRA HOLLINGSHEAD DIRECTOR 005.00 X 0 0 0 JOHN GALLINA DIRECTOR 005.00 X 0 0 0 CHRISTOPHER HAGENOW DIRECTOR 005.00 X 0 0 0 DOUGLAS TRUE CHIEF EXECUTIVE OFFICER 040.00 001.00 X 946682 0 67780 JEFFRY WELCH CHIEF FINANCIAL OFFICER 040.00 001.00 X 228105 0 50186 CHARLES ANDREW MATTINGLY CHIEF OPERATING OFFICER 040.00 001.00 X 229090 0 49708 JENNIFER BUDREAU CHIEF OPERATING OFFICER 040.00 001.00 X 238439 0 40813 MICHAEL PETERSON SENIOR VICE PRESIDENT-PRIVATE CLIENT GROUP 040.00 001.00 X 180276 0 31505 CAMERON PIERCEFIELD CHIEF TECHNOLOGY AND RISK OFFICER 040.00 001.00 X 203929 0 23126 JIM CARR VICE PRESIDENT-COMMERCIAL GROUP 040.00 X 186785 0 48684 JIM JARZYNSKI VICE PRESIDENT-COLLECTIONS 040.00 X 164932 0 42195 RICHARD RIDENOUR VICE PRESIDENT - PCG 040.00 X 193141 0 33891 BENJAMEN BANKS FINANCIAL ADVISOR 040.00 X 185164 0 46332 WENDY MCCLELLAN MORTGAGE ORIGINATOR 040.00 X 193903 0 0 2953857 434220 30 false true false D YOUNG CHEVROLET LLC PO BOX 40319 INDIANAPOLLIS IN 46240 DEALER REFERALS 176870 CHURCH CHURCH HITTLE & ANTRIM 938 CONNOR ST 2 N 9TH ST NOBLESVILLE IN 46060 LEGAL SERVICES 200019 APPRAISERVENDORCOM LLC 3195 W FAIRVIEW RDC GREENWOOD IN 46142 APPRAISAL SERVICES 232020 RESOURCE PROPERTY MGMT LLC 900 E 96TH ST STE 350 INDIANAPOLIS IN 42640 PROPERTY MANAGEMENT 384281 TRIBUNE BROADCASTING INDIANAPOLIS LLC 435 N MICHIGAN AVE CHICAGO IL 60611 ADVERTISING SERVICES 208700 10 INTEREST AND FEES ON LOANS 522100 34154797 34154797 SERVICE FEES ON SHARE ACCOUNTS 522100 8331077 8207409 123668 DEBIT AND CREDIT CARD FEES 522210 6618240 6618240 MORTGAGE BANKING 522292 4604819 4604819 INSURANCE 524298 710935 633044 77891 54419868 556214 556214 428621 526987 -98366 -98366 -135423 37057 3692860 2946845 746015 746015 746015 ACCOUNTING TAX CONSULTING 541200 81430 81430 INVESTMENT ADVISORY FEES 523930 1184520 1184520 OTHER FEES 425688 425688 1691638 57315369 55390012 1332086 593271 150000 0 0 0 2083043 0 16097569 625269 2103775 1275357 0 140676 200044 0 0 0 2262882 1211947 2304066 0 3719719 24990 0 475667 7348044 0 2782724 198714 PROVISION FOR LOAN LOSSES RECOVERY 2772376 COLLECTION AND OTHER LOAN EXPENSES 4286180 CORRESPONDENT SERVICE EXPENSE 384207 INCOME TAX 99705 1207207 51754161 8123566 5221239 88143809 102867456 824993466 923829632 66059510 32227970 34299791 33831540 20764607 25140462 3127400 2711600 41108998 21477124 1020561637 1115079053 14605531 15910738 105556121 97368409 780004481 875739339 900166133 989018486 X 120395504 126060567 120395504 126060567 1020561637 1115079053 X 5561208 69386 34469 X false true X true false 6300 6300 6300 true INDIANA CREDIT UNION LEAGUE PAC PO BOX 50425 INDIANAPOLIS IN 46250 237305600 5000 ELECT LUKE KENELY FOR INDIANA SENATE PO BOX 549 NOBLESVILLE IN 46061 351872647 550 GREATER INDIANAPOLIS CHAMBER OF COMMERCE BAC 111 MONUMENT CIR STE 1950 INDIANAPOLIS IN 46204 352106949 750 I-C 2 FORUM CREDIT UNION CONTRIBUTED 5,000 TO THE INDIANA CREDIT UNION LEAGUE POLITICAL ACTION COMMITTEE 750 TO THE GREATER INDIANAPOLIS CHAMBER OF COMMERCE BUSINESS ADVOCACY COMMITTEE AND 550 TO THE LUKE KENELY INDIANA SENATE CAMPAIGN. false 7426758 7426758 37705599 15191011 22514588 2330819 2017403 313416 18596334 15019556 3576778 33831540 Financial derivatives and other financial products Closely-held equity interests 10751 Federal income taxes 10751 MEMBER SHARE ACCOUNTS 843513588 NON-MEMBER DEPOSITS 32215000 875739339 II 2 MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITION UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. true FORUM CREDIT UNION FOUNDATION 11313 USA PKWY FISHERS IN 46037 463086648 501C3 150000 SCHOLARSHIPS AND TEACHER GRANTS 1 Part I Line 2 FORUM CREDIT UNION DONATES TO ITS RELATED ORGANIZATION, FORUM CREDIT UNION FOUNDATION, INC. THE FOUNDATIONS BOARD IS CONTROLLED BY THE FILING ORGANIZATION AND MAKES GRANT AND SCHOLARSHIP DECISIONS. X true true X X X false true false DOUGLAS TRUE CHIEF EXECUTIVE OFFICER 325235 70350 551097 28643 39137 1014462 JEFFRY WELCH CHIEF FINANCIAL OFFICER 191331 33500 3275 10507 39679 278292 CHARLES ANDREW MATTINGLY CHIEF OPERATING OFFICER 193331 33500 2259 10128 39580 278798 JENNIFER BUDREAU CHIEF OPERATING OFFICER 201644 33500 3295 26467 14345 279251 MICHAEL PETERSON SENIOR VICE PRESIDENT-PRIVATE CLIENT GROUP 173355 2500 4421 8301 23204 211781 CAMERON PIERCEFIELD CHIEF TECHNOLOGY AND RISK OFFICER 169172 33500 1257 9309 13817 227055 JIM CARR VICE PRESIDENT-COMMERCIAL GROUP 184673 2112 9071 39612 235468 JIM JARZYNSKI VICE PRESIDENT-COLLECTIONS 162522 2411 7757 34438 207128 RICHARD RIDENOUR VICE PRESIDENT - PCG 193006 135 19752 14138 227031 BENJAMEN BANKS FINANCIAL ADVISOR 185165 8111 38221 231497 WENDY MCCLELLAN MORTGAGE ORIGINATOR 193903 193903 Part I Line 4b DOUGLAS TRUE PARTICIPATED IN A 457F DEFERRED COMPENSATION PLAN. DOUGLAS TRUE, JENNIFER BUDREAU, MICHAEL PETERSON AND RICHARD RIDENOUR PARTICIPATE IN A SECTION 457B DEFERRED COMPENSATION PLAN. DOUGLAS TRUE, JENNIFER BUDREAU, CHARLES MATTINGLY, AND JEFFRY WELCH PARTICIPATE IN A SEPERATE 457f DEFFERED COMPENSATION PLAN. THE ORGANIZATION MADE 0 CONTRIBUTIONS TO THE PLANS DURING THE YEAR. THERE WERE DISTRIBUTIONS TO DOUGLAS TRUE OF 548,447 DURING THE YEAR. THIS AMOUNT WAS INCLUDED IN HIS OTHER REPORTABLE COMPENSATION REPORTED ON SCHEDULE J, PART II. Part I Line 1a RICK RAMBO, TREASURER MAX FALL, VICE CHAIRMAN JOHN DIERDORF, CHAIRMAN AND TRACY MILLS, SECRETARY RECEIVED A BENEFIT FOR TRAVEL FOR COMPANIONS. THE APPROPRIATE INFORMATION RETURNS ARE FILED BASED ON THE APPROPRIATE THRESHOLDS. KATHLEEN PIERCEFIELD SEE SUPP INFO 83304 COMPENSATION OF EMPLOYEE false KELLI DIERDORF SEE SUPP INFO 76979 COMPENSATION OF EMPLOYEE false LONG PRINTING SERVICES SEE SUPP INFO 176096 PRINTING SERVICES false Part IV Line 1 SPOUSE OF KEY EMPLOYEE, CAMERON PIERCEFIELD Part IV Line 2 SPOUSE OF CHAIRMAN OF THE BOARD, JOHN DIERDORF Part IV Line 4 DOREEN LONG, BOARD MEMBER IS A 50 OWNER OF THE BUSINESS Form 990, Part VI, Section A, Line 6 THERE IS ONE CLASS OF MEMBERS. MEMBERS HAVE THE RIGHT TO ELECT THE BOARD AND SUPERVISORY COMMITTEE AT THE ANNUAL MEMBERSHIP MEETING. Form 990, Part VI, Section A, Line 7A EACH MEMER OWNS ONE SHARE AND CAN ONLY VOTE ONCE. MEMBERS HAVE THE OPPORTUNITY TO VOTE AT THE ANNUAL MEETING ON NOMINEES FOR THE BOARD POSITIONS SELECTED BY THE NOMINATING COMMITTEE. THE BOARD APPOINTS FROM WITHIN ITSELF MEMBERS OF THE NOMINATING COMMITTEE. SHOULD A BOARD POSITION HAVE MORE THAN ONE CANDIDATE, A BALLOT WOULD BE MAILED 60 DAYS PRIOR TO THE ANNUAL MEETING TO ALL VOTING MEMBERS. THE BALLOTS MUST BE RETURNED FIVE DAY PRIOR TO THE ANNUAL MEETING. ALL BALLOTS WOULD BE VERIFIED AND TALLIED. THE RESULTS OF THE BALLOTS WOULD BE ANNOUNCED AT THE ANNUAL MEETING. Form 990, Part VI, Section B, Line 11B THE FORM 990 IS PREPARED INTERNALLY AND REVIEWED BY AN INDEPENDENT TAX RETURN PREPARER PRIOR TO FILING THE RETURN. SENIOR MANAGEMENT AND THE TREASURER CONDUCTS AN INITIAL REVIEW OF THE FORM 990 AND THEN THE BOARD TREASURER PROVIDES COPIES OF THE RETURN TO THE BOARD AND RESPONDS TO ANY QUESTIONS THAT ARISE. Form 990, Part VI, Section B, Line 12C BOARD MEMBERS, OFFICERS, AND KEY EMPLOYEES REVIEW THE CONFLICT OF INTEREST POLICY ANNUALLY TO DISCLOSE POTENTIAL CONFLICTS. BOARD MEMBERS DO NOT PARTICIPATE IN VOTING MATTERS WHERE CONFLICTS OF INTEREST EXIST. THE BOARD CHAIRMAN ENSURES THIS PRACTICE IS UPHELD. LIKEWISE, OFFICERS AND KEY EMPLOYEES WITH CONFLICTS OF INTEREST SHALL DISCLOSE THE MATTER TO THE CEO AND CHAIRMAN OF THE BOARD OF DIRECTORS. THE INDIVIDUAL SHALL MAKE NO DECISIONS OR TAKE ANY ACTIONS WITH RESPECT TO THE MATTER UNLESS AUTHORIZED BY THE CEO AND/OR BOARD OF DIRECTORS. THE OFFICER, DIRECTOR, OR KEY EMPLOYEE MAY BE ASKED TO RESIGN OR END THE CONFLICT. Form 990, Part VI, Section B, Line 15A THE COMPENSATION COMMITTEE AND THE BOARD REVIEWS THE CEOS SALARY AND BENEFITS ANNUALLY. APPROXIMATELY EVERY THREE YEARS THE COMMITTEE USES COMPENSATION SURVEYS WITH CRITERIA ON SIMILAR SIZE ORGANIZATIONS IN ITS DECISION MAKING PROCESS. ALL DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION AND BENEFITS ARE INCLUDED IN THE COMMITTEE MINUTES. THE LAST SURVEY WAS PERFORMED IN 2014. Form 990, Part VI, Section B, Line 19 A SUMMARY OF THE FINANCIAL STATEMENTS IS AVAILABLE AT EACH BRANCH LOCATION. GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE NOT REQUIRED DISCLOSURES PURSUANT TO INTERNAL REVENUE CODE SECTIONS 6104. THESE DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC AT THIS TIME. Form 990, Part XI, Line 5 CHANGE IN CASH SURRENDER VALUE IS 71,952 CHANGE IN UNREALIZED GAIN/LOSS IN AVAILABLE FOR SALE SECURITIES 2,566 Form 990, Part XI, Line 9 CHANGE IN UNREALIZED POSTRETIREMENT BENEFIT TRANSITION OBLIGATION OF 34,469. 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