2014-11-14T06:45:19-00:00 2013-12-31 ORTH CHAKLER MURNANE AND CO CPAs 12060 SW 129 COURT SUITE 201 MIAMI FL 33186 990 2013-01-01 730564572 FAA CREDIT UNION FAAC 4056821990 PO BOX 26406 OKLAHOMA CITY OK 73126 NATALIA VALENZUELA CFO 2014-11-14 true DOUGLAS ORTH 3052328272 2014-11-14 2013 2015-11-30 17:44:51Z STEVE RASMUSSEN PO BOX 26406 OKLAHOMA CITY OK 73126 68773210 false 2407 X WWW.FAAECU.ORG X CREDIT UNION 1946 OK LOANS, DEPOSITS, AND OTHER FINANCIAL SERVICES FOR THE BENEFIT OF THE MEMBERS OF THE CREDIT UNION. 8 8 196 12 214939 -59045 0 15887121 15239117 4781674 3473603 5033784 5659742 25702579 24372462 0 0 8346279 7988556 0 0 14301479 11477103 22647758 19465659 3054821 4906803 533314216 551799710 490681080 508012272 42633136 43787438 X LOANS, DEPOSITS, AND OTHER FINANCIAL SERVICES FOR THE BENEFIT OF THE MEMBERS OF THE CREDIT UNION. false false FAA CREDIT UNION HAS 47,721 ACTIVE MEMBERS. MEMBERS ENJOY A WIDE VARIETY OF SAVING OPTIONS THAT BEST SUIT THEIR INDIVIDUAL NEEDS. FAA CREDIT UNION OFFERS SAVINGS, SEVERAL CHECKING OPTIONS, MONEY MARKET, SHARE CERTIFICATES CDS AND IRAS WITHOUT ANY MONTHLY MAINTENANCE FEE. CONVENIENCE IS AT THEIR FINGERTIPS, WITH UP TO DATE TECHNOLOGY, WHETHER IT BE ONLINE BANKING OR E-STATEMENTS, IT IS JUST A CLICK AWAY AND BEST OF ALL, FREE TO THE MEMBERSHIP. FAA CREDIT UNION SHARE CERTIFICATE PROGRAM OFFERS MEMBERS THE FLEXIBILITY TO CHOOSE THE MATURITY THAT FITS THEIR LIFESTYLE, RANGING FROM 3 MONTHS TO 60 MONTHS, WE LET MEMBERS DECIDE. IN 2013 FAA CREDIT UNION HAS 5,090 SHARE CERTIFICATES WITH BALANCES OF 130,336,737 AND 1,369 IRA SHARE CERTIFICATES WITH BALANCES OF 29,141,543. THE CREDIT UNION MAY ALSO OFFER WEEKLY SPECIAL RATES THAT APPEAL TO OUR MEMBERSHIP THAT ONLY REQUIRE A 500 OR 1,000 MINIMUM INVESTMENT. false false true 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 true false false true 9930 0 true 196 true true true false false false false false X 8 8 false false false false true true true true true false false true true true true false true true true false X NATALIA VALENZUELA 4056821990 10201 S WESTERN AVENUE OKLAHOMA CITY OK 73139 JUDY RICHEY CHAIR 001.00 001.00 X 0 0 0 TERRY DAVIDSON VICE-CHAIR 001.00 001.00 X 0 0 0 JESSIE MCMULLEN TREASURER 001.00 001.00 X 0 0 0 LINDA LINDSEY DIRECTOR 001.00 001.00 X 0 0 0 RAY BRADFORD DIRECTOR 001.00 001.00 X 0 0 0 VIRGINIA HICKS SECRETARY 001.00 001.00 X 0 0 0 PHYLLIS HOWARD DIRECTOR 001.00 001.00 X 0 0 0 TANYA CHILDRESS ASSOCIATE DIRECTOR 001.00 001.00 X 0 0 0 STEVE RASMUSSEN PRESIDENT/CEO 040.00 040.00 X 341534 0 22240 NATALIA VALENZUELA CFO 040.00 040.00 X 105609 0 19668 ALISON WOLF VP OF MARKETING 040.00 040.00 X 96940 0 14115 JEF FIALKOWSKI SR VP OF IT 040.00 040.00 X 154595 0 21182 GLEN FIELDS SR VP OF OPERATIONS 040.00 040.00 X 136086 0 10965 JULIE GAMBLIN VP OF HR 040.00 040.00 X 118500 0 19734 953264 107904 6 false true false PINNACLE BUSINESS SYSTEMS INC 3824 S BOULEVARD STE 200 EDMOND OK 73013 SYSTEM HARDWARE/SOFTWARE, DATA PROCESSING 262526 AT&T CORPORATION PO BOX 660688 DALLAS TX 75266 TELECOMMUNICATIONS 334926 HARLAND FINANCIAL SOLUTIONS 400 SW 6TH AVENUE STE 200 PORTLAND OR 97204 SYSTEM/DATA PROCESSING/MAINTENANCE SVC. 211932 WORKFLOWONE 9603 DEERECO RD STE 200 TIMONIUM MD 21093 PRINTING/MAILING PROCESSOR 288012 CUBUS SOLUTIONS INC 6265 SOUTHFRONT ROAD LIVERMORE CA 94551 SYSTEM/DATA PROCESSING/MAINTENANCE SERV 183337 8 INCOME ON LOANS 522100 13720284 13720284 FEES/CHARGES/OTHER 522100 1303894 1303894 UNRELATED BUSINESS INCOME 900099 214939 214939 15239117 3373801 3373801 43573383 927167 43471547 929201 101836 -2034 99802 99802 OTHER OPERATING INCOME 522100 5659742 5659742 5659742 24372462 24157523 214939 0 0 0 0 489051 489051 0 5335880 5335880 483328 483328 1187676 1187676 492621 492621 123887 123887 991 991 114058 114058 0 0 1439167 1439167 639000 639000 1356720 1356720 0 0 471953 471953 0 0 150944 150944 3196934 3196934 0 807646 807646 213959 213959 SEE ATTACHED SCHEDULE 2961844 2961844 0 19465659 19465659 3235008 2414948 7780129 24735898 3401717 2865829 294640630 284735906 572497 672453 21708072 10864438 11057146 10843634 201960842 215798987 1601800 1604200 9064447 8127855 533314216 551799710 4797054 5102778 1891929 1775634 483992097 501133860 490681080 508012272 X 42633136 43787438 42633136 43787438 533314216 551799710 4906803 -3752501 X false true X true false 1700 1700 1700 true OKLAHOMA CREDIT UNION POLITICAL ACTION COMMITTEE (OCUPAC) PO BOX 702297 TULSA OK 74170 731281199 1700 false true X 3381813 3381813 9728317 3455159 6273158 744724 620622 124102 7814630 6772842 1041788 38588 15815 22773 10843634 Financial derivatives and other financial products Closely-held equity interests Federal income taxes REGULAR SHARES 113664196 SHARE DRAFT 108022348 CERTIFICATE OF DEPOSIT 130336737 MONEY MARKET 94040895 IRA CERTIFICATES 29141543 IRA SHARES 13335088 SUB SHARE ACCOUNTS 10431856 BUSINESS SHARES 2159148 OTHER SHARES 2049 501133860 X 24329401 -43061 -43061 24372462 24372462 19422598 19422598 43061 43061 19465659 X 2 THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES ON INCOME RELATED TO THE EXEMPT PURPOSE OF THE CREDIT UNION. 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 UPON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED IN INTERNAL REVENUE CODE IRC SECTION 501C14. 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. AS A RESULT, MANAGEMENT HAS ASSESSED THE CREDIT UNIONS 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 FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2012, 2011, AND 2010 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS. THE FILING YEARS OPEN FOR EXAMNATION BY THE STATE, IF APPLICABLE, MAY BE EQUAL TO, GREATER THAN OR LESS THAN THE YEARS OPEN FOR EXAMINATION BY THE IRS. IV 2B THE CREDIT UNION SERVICES MORTGAGE LOANS. THAT IS, FUNDS ARE COLLECTED MONTHLY AND REMITTED ANNUALLY BY THE CREDIT UNION FOR MEMBERS INSURANCE PREMIUMS AND PROPERTY TAXES. XI 4D EXTRAORDINARY LOSSES REPORTED AS A REDUCTION OF REVENUES WITHIN THE AUDITED FINANCIAL STATEMENTS BUT REPORTED AS AN EXPENSE FOR FORM 990 REPORTING PURPOSES. XII 2B EXTRAORDINARY LOSSES REPORTED AS A REDUCTION OF REVENUES WITHIN THE AUDITED FINANCIAL STATEMENTS BUT REPORTED AS AN EXPENSE FOR FORM 990 REPORTING PURPOSES. X X true true X X X X X false true false STEVE RASMUSSEN PRESIDENT/CEO 234340 5495 101699 11717 10523 363774 JEF FIALKOWSKI SR VP OF IT 131517 23078 6576 14606 175777 Part I Line 4B STEVE RASMUSSEN 101,699 Form 990, Part III, Line 4d Program Service Expenses 0, Grants and allocations 0, Revenue 0 FAA CREDIT UNION PROVIDES A VARIETY OF MEMBER FINANCIAL EDUCATIONAL OPPORTUNITIES, INCLUDING CAR BUYER WORKSHOPS AND HOME BUYER WORKSHOPS. ADDITIONALLY, THE CREDIT UNION PROVIDES YOUTH FINANCIAL SEMINARS THROUGHOUT THE COMMUNITY, WHICH COVERS BASIC CHECK WRITING SKILLS, BUDGETING, SAVING, CREDIT REPORTS, AND HOW TO BORROW MONEY RESPONSIBLY. THE CREDIT UNIONS YOUTH FINANCIAL SEMINARS HAVE GAINED NATIONAL INDUSTRY RECOGNITION. STARTING AUGUST OF 2012, THE CREDIT UNION ALSO OFFERS A NEW CREDIT SCORE ANALYSIS PROGRAM. THE GOAL OF THIS PROGRAM IS TO REVIEW OUR MEMBERS CREDIT REPORT AND FIND WAYS TO SAVE MONEY FOR OUR MEMBERS AND ALSO TO IMPROVE THEIR SCORE. THIS PROGRAM HAS BEEN A GREAT ADDITION TO OUR CURRENT SERVICES. Form 990, Part VI, Section A, Line 6 THE CREDIT UNIONS MEMBERS HAVE THE RIGHT TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNIONS MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATIONS PROFITS IN THE FORM OF CASH DIVIDENDS. Form 990, Part VI, Section A, Line 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODYS 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 11 FAA CU PROVIDES THEIR FINANCIAL INFORMATION TO OCM AND RELIES ON THEIR EXPERTISE TO COMPLETE FORM 990. UPON OCMS COMPLETION OF FORM 990, FAA CU REVIEWS THE RETURN FOR ACCURACY PRIOR TO FILING THE RETURN. A COPY OF THE FORM 990 WILL BE PROVIDED TO THE MEMBERS OF THE BOARD UPON REQUEST. Form 990, Part VI, Section B, Line 15 FAA CU USES THE COMPEASE STRUCTURED SYSTEM THROUGH HRN. EACH POSITION HAS A PAY RANGE WITH LOW, MEDIAN, AND HIGH POSITIONS WITHIN THE RANGE. THE RANGES ARE ADJUSTED BY HRN BASED ON LABOR MARKET SPECIFIC PAY DATA FROM OUR REGION. Form 990, Part VI, Section C, Line 19 FINANCIAL STATEMENTS ARE PUBLISHED QUARTERLY IN THE CALL REPORT. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE MADE AVAILABLE TO OUR MEMBERSHIP UPON REQUEST, HOWEVER, COPIES ARE NOT TO BE MADE. Form 990, Part VI, Section B, Line 12C FAA CU REQUIRES ALL EMPLOYEES TO SIGN A CODE OF ETHICAL CONDUCT ANNUALLY AND ANY POTENTIAL VIOLATIONS ARE PURSUED BY INTERNAL AUDITS AND MANAGEMENT. Form 990, Part VI, Section A, Line 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODYS 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. FIRST RATE AUTO LLC PO BOX 26090 OKLAHOMA CITY OK 73126 271009000 SELLING REPO AUTO LOANS OK NA Related 94771 43766 false false 0.33330 false false false false false false false false false false false false false false false false false false false