COMMONWEALTH CREDIT UNION: Form 990, tax year 2015
View the entire original 990 at ProPublica ↗
- Organization
- COMMONWEALTH CREDIT UNION (EIN 61-0671028)
- Tax period
- 2015-01-01 to 2015-12-31
- Filed
- 2016-08-03
- IRS object ID
- 201612169349300416
- Schema version
- 2015v2.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2016-08-03T08:49:18-05:00 | ReturnTs |
| Tax Period End | 2015-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 382492570 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DOEREN MAYHEW | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 305 WEST BIG BEAVER ROAD | AddressLine1Txt |
| City | TROY | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48084 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2015-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 610671028 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | COMMONWEALTH CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | COMM | BusinessNameControlTxt |
| Phone | 5025644775 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 978 | AddressLine1Txt |
| City | FRANKFORT | CityNm |
| State Abbreviation | KY | StateAbbreviationCd |
| ZIP | 406020978 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | KAREN HARBIN | PersonNm |
| Person Title | CEO | PersonTitleTxt |
| Phone | 5025644775 | PhoneNum |
| Signature | 2016-07-11 | SignatureDt |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | ROBIN D HOAG CPA | PreparerPersonNm |
| PTIN | P00360662 | PTIN |
| Phone | 2482443000 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2015 | TaxYr |
| Build TS | 2016-12-15 16:53:06Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | KAREN HARBIN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 978 | AddressLine1Txt |
| City | FRANKFORT | CityNm |
| State Abbreviation | KY | StateAbbreviationCd |
| ZIP | 406020978 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $54,861,885 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.CCUKY.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1951 | FormationYr |
| Legal Domicile State | KY | LegalDomicileStateCd |
| Activity Or Mission | VISION: GROWTH INSPIRED BY ENGAGEMENT, EMPOWERMENT, AND EXTRAORDINARY SERVICE. OUR COMMON PURPOSE: "WE BETTER LIVES THROUGH OUR PASSION TO SERVE..." | ActivityOrMissionDesc |
| Voting Members Governing Body | 13 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 12 | VotingMembersIndependentCnt |
| Total Employee | 312 | TotalEmployeeCnt |
| Total Volunteers | 17 | TotalVolunteersCnt |
| Total Gross UBI | $441,544 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | -$537,315 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $47,903,095 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $50,751,698 | CYProgramServiceRevenueAmt |
| PY Investment Income | $3,853,467 | PYInvestmentIncomeAmt |
| CY Investment Income | $3,607,322 | CYInvestmentIncomeAmt |
| PY Other Revenue | $473,179 | PYOtherRevenueAmt |
| CY Other Revenue | $441,544 | CYOtherRevenueAmt |
| PY Total Revenue | $52,229,741 | PYTotalRevenueAmt |
| CY Total Revenue | $54,800,564 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $20,568,788 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $22,584,271 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $23,706,407 | PYOtherExpensesAmt |
| CY Other Expenses | $24,508,383 | CYOtherExpensesAmt |
| PY Total Expenses | $44,275,195 | PYTotalExpensesAmt |
| CY Total Expenses | $47,092,654 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $7,954,546 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $7,707,910 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $979,204,360 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,031,779,216 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $790,760,431 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $868,827,506 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $188,443,929 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $162,951,710 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | THE CREDIT UNION'S VISION IS "GROWTH INSPIRED BY ENGAGEMENT, EMPOWERMENT, AND EXTRAORDINARY SERVICE." COMMONWEALTH PROVIDES ITS MEMBERS WITH A SAFE PLACE TO SAVE AND A SOURCE OF CREDIT IN A NOT-FOR-PROFIT CONTEXT. WE STRIVE TO IMPROVE THE LIVES OF THOSE WE SERVE BY HELPING THEM ACHIEVE THEIR DREAMS THROUGH FINANCIAL HEALTH AND SUCCESS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | SHARES:THE CREDIT UNION HAS 188,265 SHARE ACCOUNTS CONSISTING OF OVER $820 MILLION. COMMONWEALTH CREDIT UNION HAS A MYRIAD OF SAVINGS OPTIONS FROM WHICH MEMBERS CAN SELECT FROM TO GROW THEIR FUTURES. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | LOANS:COMMONWEALTH CREDIT UNION'S LOAN PORTFOLIO EXCEEDS $633 MILLION. THE CREDIT UNION HAS 64,779 LOAN ACCOUNTS. LOANS ARE PROVIDED TO 56,862 MEMBERS. COMMONWEALTH OFFERS ITS MEMBERS AN ARRAY OF LOAN PRODUCTS TO MEET THEIR CREDIT NEEDS. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MISCELLANEOUS FINANCIAL SERVICES:COMMONWEALTH CREDIT UNION OFFERS A VARIETY OF SERVICES TO ITS 86,659 MEMBERS. THESE INCLUDE ONLINE BANKING, MOBILE BANKING, BILL PAYMENT, REMOTE & MOBILE DEPOSIT, AND OTHER ELECTRONIC SERVICES. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 22343 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 312 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 13 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 12 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KAREN HARBIN CEO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5025644775 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 417 HIGH STREET | AddressLine1Txt |
| City | FRANKFORT | CityNm |
| State Abbreviation | KY | StateAbbreviationCd |
| ZIP | 40601 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (20 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| BOB BENDER | ||||||||
| BOARD OF DIRECTORS | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JIM CHADWELL | ||||||||
| BOARD OF DIRECTORS | 1.00 | Yes (X) | $1,533 | $0 | $0 | |||
| RANDY OVERSTREET | ||||||||
| BOARD OF DIRECTORS | 1.00 | Yes (X) | $829 | $0 | $0 | |||
| RANDY FAWNS | ||||||||
| BOARD OF DIRECTORS | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| REGINA GRUBBS | ||||||||
| BOARD OF DIRECTORS | 1.00 | Yes (X) | $1,011 | $0 | $0 | |||
| MARY FOSTER | ||||||||
| BOARD OF DIRECTORS | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| KAY JONES | ||||||||
| BOARD OF DIRECTORS | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| HARRY SUTER | ||||||||
| BOARD OF DIRECTORS | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| ALEX ROSE | ||||||||
| BOARD OF DIRECTORS | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| BILL LEACH | ||||||||
| BOARD OF DIRECTORS | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| ROBIN BREWER | ||||||||
| BOARD OF DIRECTORS | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| KAREN HARBIN | ||||||||
| CEO/BOARD MEMBER | 40.00 | Yes (X) | $276,963 | $0 | $123,425 | Yes (X) | ||
| KENNETH BLACKWELL | ||||||||
| BOARD OF DIRECTORS | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| STEPHEN BELLAS | ||||||||
| CFO | 40.00 | $99,619 | $0 | $42,381 | Yes (X) | |||
| DAVID YOUNG | ||||||||
| EXECUTIVE VICE PRESIDENT | 40.00 | $202,683 | $0 | $85,766 | Yes (X) | |||
| ALAN DAVIS | ||||||||
| VICE PRESIDENT OF LENDING | 40.00 | $145,026 | $0 | $70,629 | Yes (X) | |||
| ANNE BURGESS | ||||||||
| CHIEF INFORMATION OFFICER | 40.00 | $150,476 | $0 | $64,998 | Yes (X) | |||
| KAREN MAXFIELD | ||||||||
| VICE PRESIDENT OF HUMAN RE | 40.00 | $141,310 | $0 | $61,635 | Yes (X) | |||
| DOUG GRAHAM | ||||||||
| INFORMATION SYSTEMS MANAGE | 40.00 | $126,236 | $0 | $55,708 | Yes (X) | |||
| GLORIA THOMAS | ||||||||
| VP OF BRANCH SERVICES | 40.00 | $130,296 | $0 | $57,304 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,275,982 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $561,846 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 7 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| KENTUCKY ALLIANCE FOR RADIO & TELEVISION | |||||
| 1023 GARDEN CREEK CIRCLE | LOUISVILLE | KY | 40223 | KART MARKETING ALLIANCE CAMPAIGN | $956,174 |
| JACK HENRY & ASSOCIATES INC | |||||
| PO BOX 609 | MONETT | MO | 65708 | SYMITAR MAINTENANCE & EXPENSES | $946,776 |
| VISA USA INC | |||||
| PO BOX 742233 | LOS ANGELES | CA | 90074 | VISA PROCESSING & SERVICES | $818,226 |
| FOSTER SWIFT COLLINS & SMITH PC | |||||
| 313 SOUTH WASHINGTON SQUARE | LANSING | MI | 48933 | KRS PROFESSIONAL AND LEGAL SERVICES | $772,705 |
| K4 ARCHITECTURE LLC | |||||
| 555 GEST STREET | CINCINNATI | OH | 45203 | BRANCH PLANNING AND CONSTRUCTION | $767,304 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 33 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| INTEREST ON LOANS | 522100 | $36,766,338 | $36,766,338 |
| FEE INCOME | 522100 | $7,857,270 | $7,857,270 |
| INTERCHANGE INCOME | 522100 | $5,856,925 | $5,856,925 |
| OTHER INCOME | 522100 | $271,165 | $271,165 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $50,751,698 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,309,002 | TotalRevenueColumnAmt |
| Exclusion | $3,309,002 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $147,538 | SecuritiesAmt |
| Other | $212,103 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $61,321 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $147,538 | SecuritiesAmt |
| Other | $150,782 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $298,320 | TotalRevenueColumnAmt |
| Exclusion | $298,320 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|
| INS COMM MEMBER SERVICES | 524298 | $363,881 | $363,881 |
| INCOME ON NON-MEMBER WITHDRAWALS | 525990 | $77,663 | $77,663 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $441,544 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $54,800,564 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $50,751,698 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $441,544 | UnrelatedBusinessRevenueAmt |
| Exclusion | $3,607,322 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $834,210 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,524,231 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,026,126 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,207,072 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $992,632 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $176,079 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $83,458 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,172,411 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,684,304 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,138,034 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $523,545 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,565,526 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $102,715 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $120,486 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,762,744 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,700,133 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $88,722 | TotalAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PROVISION FOR LOAN LOSS | $5,194,700 |
| PROCESSING FEES | $4,181,668 |
| REGULATORY FEES | $429,769 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,584,089 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $47,092,654 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,883,878 | BOYAmt |
| EOY | $8,641,485 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,774,190 | BOYAmt |
| EOY | $41,337,121 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,651,060 | BOYAmt |
| EOY | $5,073,947 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $640,004,345 | BOYAmt |
| EOY | $723,622,505 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,464,588 | BOYAmt |
| EOY | $1,832,215 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $48,767,557 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $23,469,459 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,917,041 | BOYAmt |
| EOY | $25,298,098 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $267,408,380 | BOYAmt |
| EOY | $207,922,989 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,927,300 | BOYAmt |
| EOY | $3,943,300 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,173,578 | BOYAmt |
| EOY | $14,107,556 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $979,204,360 | BOYAmt |
| EOY | $1,031,779,216 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,561,175 | BOYAmt |
| EOY | $47,876,544 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $780,199,256 | BOYAmt |
| EOY | $820,950,962 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $790,760,431 | BOYAmt |
| EOY | $868,827,506 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $188,443,929 | BOYAmt |
| EOY | $162,951,710 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $188,443,929 | BOYAmt |
| EOY | $162,951,710 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $979,204,360 | BOYAmt |
| EOY | $1,031,779,216 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $7,707,910 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $749,871 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$33,950,000 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,038,091 | OtherCostOrOtherBasisAmt |
| Book Value | $6,038,091 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $29,552,106 | OtherCostOrOtherBasisAmt |
| Depreciation | $12,308,674 | DepreciationAmt |
| Book Value | $17,243,432 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $13,177,360 | OtherCostOrOtherBasisAmt |
| Depreciation | $11,160,785 | DepreciationAmt |
| Book Value | $2,016,575 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $25,298,098 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (5 entries)
| DescDesc | AmtAmt |
|---|---|
| SHARE | $403,806,644 |
| INDIVIDUAL RETIREMENT ACCOUNTS/ CERTIFICATES | $50,068,607 |
| MONEY MARKET | $97,549,089 |
| SHARE DRAFT | $133,814,826 |
| CERTIFICATE OF DEPOSIT | $135,711,796 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $820,950,962 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $54,800,220 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | -$344 | OtherRevenueAmt |
| Revenue Not Reported | -$344 | RevenueNotReportedAmt |
| Revenue Subtotal | $54,800,564 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $54,800,564 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $47,092,305 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $47,092,305 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $349 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $349 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $47,092,654 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | INTERNATIONAL SERVICE ASSESSMENT |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | INTERNATIONAL SERVICE ASSESSMENT |
| PART XI & XII | GL 506221, ISA - INTERNATIONAL SERVICE ASSESSMENT WAS CLASSIFIED AS NON-OPERATING INCOME (EXPENSE) VERSUS ON THE CREDIT UNION'S FINANCIALS THEY ARE CLASSIFIED AS A NON-INTEREST EXPENSE. ALSO, THE DIFFERENCE FROM THE GL BALANCE OF $349 TO $344/$349 IS DUE TO ROUNDING. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | 0 | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (7 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| KAREN HARBIN | ||||||||||||||
| CEO/BOARD MEMBER | $260,006 | $0 | $15,293 | $0 | $1,664 | $0 | $115,712 | $0 | $7,713 | $0 | $400,388 | $0 | $0 | $0 |
| DAVID YOUNG | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | $194,201 | $0 | $8,482 | $0 | $0 | $0 | $78,580 | $0 | $7,186 | $0 | $288,449 | $0 | $0 | $0 |
| ALAN DAVIS | ||||||||||||||
| VICE PRESIDENT OF LENDING | $134,299 | $0 | $10,118 | $0 | $609 | $0 | $63,654 | $0 | $6,975 | $0 | $215,655 | $0 | $0 | $0 |
| ANNE BURGESS | ||||||||||||||
| CHIEF INFORMATION OFFICER | $143,210 | $0 | $7,266 | $0 | $0 | $0 | $58,339 | $0 | $6,659 | $0 | $215,474 | $0 | $0 | $0 |
| KAREN MAXFIELD | ||||||||||||||
| VICE PRESIDENT OF HUMAN RE | $132,831 | $0 | $8,479 | $0 | $0 | $0 | $54,786 | $0 | $6,849 | $0 | $202,945 | $0 | $0 | $0 |
| DOUG GRAHAM | ||||||||||||||
| INFORMATION SYSTEMS MANAGE | $118,461 | $0 | $7,775 | $0 | $0 | $0 | $48,942 | $0 | $6,766 | $0 | $181,944 | $0 | $0 | $0 |
| GLORIA THOMAS | ||||||||||||||
| VP OF BRANCH SERVICES | $122,610 | $0 | $7,686 | $0 | $0 | $0 | $50,516 | $0 | $6,788 | $0 | $187,600 | $0 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | ANY INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS A MEMBER. IN TOTAL, THERE ARE 86,659 MEMBERS OF THE CREDIT UNION. ELIGIBILITY TO JOIN COMMONWEALTH CREDIT UNION IS BASED ON PARTICIPATION IN A KENTUCKY RETIREMENT SYSTEM (KENTUCKY EMPLOYEES RETIREMENT, KENTUCKY TEACHERS RETIREMENT, COUNTY EMPLOYEE'S RETIREMENT, KENTUCKY STATE POLICE SYSTEM, AND EMPLOYEES OF THE FIELD OF EDUCATION). RELATIVES OF FAMILY MEMBERS PARTICIPATING IN KRS ARE ALSO ELIGIBLE FOR MEMBERSHIP IN THE CREDIT UNION. |
| FORM 990, PART VI, SECTION A, LINE 7A | COMMONWEALTH CREDIT UNION BOARD OF DIRECTORS ARE ELECTED BY THE MEMBERSHIP AT AN ANNUAL MEETING HELD IN JANUARY OF EACH YEAR. EACH PRIMARY MEMBER IS ENTITLED TO ONE VOTE TO ELECT THE BOARD. |
| FORM 990, PART VI, SECTION B, LINE 11 | COMMONWEALTH CREDIT UNION BOARD OF DIRECTORS WERE PROVIDED WITH A COPY OF THE FORM PRIOR TO THE BOARD MEETING. THEY WERE ASKED TO REVIEW THE FORM AND CONTACT THE CEO WITH QUESTIONS. AT THE BOARD MEETING, THE CEO PROVIDED EXPLANATIONS AND ANSWERED QUESTIONS FROM THE BOARD DURING THE REVIEW OF THE FORM. |
| FORM 990, PART VI, SECTION B, LINE 12C | A STATEMENT OF THE CREDIT UNION'S COMPLIANCE WITH KENTUCKY REVISED STATUE 290.195 IS INCLUDED IN THE ASSOCIATE HANDBOOK WHICH EACH EMPLOYEE SIGNS AS HAVING READ AND AGREES TO ABIDE BY KRS290.195 WHICH PROVIDES THAT NO DIRECTOR, OFFICER OR ASSOCIATES PARTICIPATE IN INTEREST THAT COULD GIVE RISE TO CONFLICT. ALSO, AT THE BEGINNING OF EACH YEAR, EVERY EMPLOYEE MUST SIGN A CONFLICT OF INTEREST POLICY. THE HUMAN RESOURCE DEPARTMENT ENSURES THAT EACH EMPLOYEE SIGNS AND AGREES TO THIS POLICY AND MONITORS THAT IT IS DONE. |
| FORM 990, PART VI, SECTION B, LINE 15 | INTEGRITY HR IS USED AS AN OUTSIDE CONSULTANT TO PROVIDE AN INDEPENDENT REVIEW OF THE POSITIONS, SALARIES, LEVELS, AND OVERALL COMPENSATION. INTEGRITY HR USES SEVERAL SOURCES OF COMPARABLE DATA INCLUDING CUNA SALARY SURVEYS, AS WELL AS LOCAL, REGIONAL AND NATIONAL SALARY DATA. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE FINANCIALS ARE MADE AVAILABLE AND DISTRIBUTED TO THE PUBLIC EVERY YEAR AT THE ANNUAL MEETING IN PAMPHLET FORM. GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIALS WOULD ALSO BE DISTRIBUTED ON A REQUEST BASIS TO THE PUBLIC. |
| FORM 990, PART XI, LINE 9: | CAPITAL RECLASSIFIED AS LIABILITY FOR KENTUCKY RETIREMENT UNFUNDED PENSION -33,950,000. |
| FORM 990, PART XII, LINE 2C: | THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |
Comments