2014-07-07T13:53:47-05:00 2013-12-31 431592217 J TENBRINK & ASSOCIATES 11272 S RIDGEVIEW RD OLATHE KS 66061 990 2013-01-01 480625190 QUEST CREDIT UNION QUES 7852335556 PO BOX 1128 TOPEKA KS 666011128 VICKIE HURT PRESIDENT/CEO 7852335556 2014-07-07 1 P00638199 9138946214 2013 2015-11-30 17:44:51Z VICKIE HURT PO BOX 1128 TOPEKA KS 666011128 10328642 0 X WWW.QUEST-CU.ORG X 1974 KS QUEST CREDIT UNION WILL EXCEED MEMBER EXPECTATIONS IN OUR COMMITMENT TO THEIR FINANCIAL SUCCESS. 9 9 78 13 41513 -22456 0 0 8187731 7643426 2612431 2470267 186654 117013 10986816 10230706 0 0 97466 97384 3318156 3466372 0 0 0 6370062 5739120 9785684 9302876 1201132 927830 265791454 271949290 241323671 246827309 24467783 25121981 QUEST CREDIT UNION WILL EXCEED MEMBER EXPECTATIONS IN OUR COMMITMENT TO THEIR FINANCIAL SUCCESS. 0 0 PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 29,121 MEMBERS. PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2013, THERE WERE 9,647 LOANS OUTSTANDING TOTALING $82,728,357. PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $1,563,249 FOR THE YEAR. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 7588 0 1 78 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 0 1 1 1 1 1 1 X DAVID LINDERMAN 7852335556 610 SW 10TH STREET TOPEKA KS 666121673 BOBB COLLIE CHAIRMAN 2.00 X 0 0 0 WILLIAM MIKE LACKEY VICE CHAIRMAN 2.00 X 0 0 0 BRYAN VARGAS TREASURER 2.00 X 0 0 0 DONALD FRICK SECRETARY 2.00 X 0 0 0 BRADFORD DEITER DIRECTOR 2.00 X 0 0 0 GELENE SAVAGE DIRECTOR 2.00 X 0 0 0 JO ANN GOEDEKE DIRECTOR 2.00 X 0 0 0 TERRY HEIDNER DIRECTOR 2.00 X 0 0 0 RANDALL PACHOSA DIRECTOR 2.00 X 0 0 0 GARY COLCHER PRESIDENT/CEO, INVESTMENTS MANAGER 40.00 X X 130931 0 131527 VICKY HURT PRESIDENT/CEO 40.00 X 127863 0 115706 258794 0 247233 2 0 1 0 0 INTEREST ON LOANS 522100 4866693 4866693 FEES & OTHER INCOME 522100 2735220 2735220 NON-MEMBER ATM FEES 522100 30494 30494 WARRANTY SALES 522100 7350 7350 OTHER INSURANCE SERVICES 522100 3669 3669 7643426 2473203 2473203 117013 117013 95000 97936 -2936 -2936 -2936 10230706 10189193 41513 0 97384 506027 2323330 123824 311810 201381 4541 127080 60586 349144 278587 1672994 251890 74045 385996 86062 MEMBER DIVIDENDS 1563249 LOAN SERVICING 321526 PROVISION FOR LOAN LOSS 287460 NCUSIF ASSESSMENTS 193335 82625 9302876 4945387 4688945 25805175 26475077 118804 150780 88780884 81797725 471375 409576 10340143 4757103 5812670 5583040 129547786 142298877 6353875 6579816 3955498 3965454 265791454 271949290 1886606 1553651 278023 243969 239159042 245029689 241323671 246827309 X 0 0 0 0 24467783 25121981 24467783 25121981 265791454 271949290 X 927830 -272318 -1314 X 0 1 X 1 0 0 1 X 1078853 1078853 6231274 2299185 3932089 521139 494861 26278 2496731 1959008 537723 12146 4049 8097 5583040 MEMBER SHARE DEPOSITS 245029689 245029689 X 10230706 0 10230706 0 10230706 9302876 0 9302876 0 9302876 PART IV, LINE 2B: THE CREDIT UNION MAINTAINS ESCROW ACCOUNTS FOR INSURANCE AND PROPERTY TAXES RELATED TO MEMBER REAL ESTATE LOANS. 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. FASB ASC 740-10-25, "INCOME TAXES, OVERALL RECOGNITION" CLARIFIES ACCOUNTING FOR UNCERTAIN 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 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. COURT DECISONS HAVE BEEN RENDERED IN RESPONSE TO LEGAL CHALLENGES FROM INDIVIDUAL CREDIT UNIONS AGAINST THE IRS, WHICH SPECIFIED THE REVENUE SOURCES SUBJECT TO UBIT. THE TWO COURT RULINGS REJECTED THE IRS'S ANALYSIS OF HOW UBIT SHOULD APPLY TO CREDIT UNIONS BY DETERMINING THAT REVENUE SOURCES LISTED BY THE IRS WERE SUBSTANTIALLY RELATED TO THE CREDIT UNION'S TAX EMEMPT PURPOSE, AND THEREFORE, NOT SUBJECT TO UBIT. CREDIT UNION MANAGEMENT ACCEPTS THE LEGAL DECISIONS RENDERED BY THE COURTS AND DETERMINED THAT THE CREDIT UNION HAS LIMITED INCOME DERIVED FROM NON-EXEMPT SOURCES. THE CREDIT UNION HAS FILED THE 990 AND 990-T RETURNS UP TO AND INCLUDING 2012, AND INTENDS TO FILE THE 2013 990 AND 990-T TAX RETURNS UNDER THE SAME APPROACH. WITH FEW EXEPTIONS, THE CREDIT UNION IS NO LONGER SUBJECT TO U.S. FEDERAL OR STATE AND LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2010. X X X X 0 1 0 GARY COLCHER PRESIDENT/CEO, INVESTMENTS MANAGER 130931 0 0 0 0 0 118424 0 13103 0 262458 0 0 0 VICKY HURT PRESIDENT/CEO 127863 0 0 0 0 0 108988 0 6718 0 243569 0 0 0 PART I, LINE 3 THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS PERFORMANCE AND DETERMINES COMPENSATION FOR THE PRESIDENT/CEO USING VARIOUS INFORMATION, INCLUDING THE COMPEASE SALARY ADMINISTRATION PROGRAM AND THE FORM 990 OF SIMILAR ORGANIZATIONS. PART I, LINE 4B THE CREDIT UNION MAINTAINS SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS FOR KEY SENIOR EXECUTIVES IF THEY REMAIN EMPLOYED BY THE CREDIT UNION FOR A SPECIFIED PERIOD OF TIME. THE ESTIMATED LIABILITY UNDER THE AGREEMENTS IS BEING ACCRUED AS DEFINED IN THE PLANS OVER THE REMAINING YEARS OF SERVICE. THE CONTRIBUTIONS INTO THE PLANS ARE ACCRUED AS COMPENSATION EXPENSE AND FUNDED ON A CURRENT BASIS. THE APPLICABLE EXECUTIVES AND AMOUNTS EXPENSED IN 2013 ARE LISTED BELOW: GARY COLCHER - $97,455 VICKIE HURT - $95,950 NO AMOUNTS WERE PAID OUT IN 2013. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS MUTUALLY OWNED BY MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS ARE ELECTED BY THE CREDIT UNION MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN SIGNIFICANT CHANGES ARE SUBJECT TO APPROVAL BY THE CREDIT UNION MEMBERS; HOWEVER, NO SUCH CHANGES WERE MADE DURING THE YEAR. FORM 990, PART VI, SECTION B, LINE 11 THE PRESIDENT/CEO REVIEWS AND APPROVES THE FORM 990. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS PERFORMANCE AND DETERMINES COMPENSATION FOR THE PRESIDENT/CEO USING VARIOUS INFORMATION, INCLUDING THE COMPEASE SALARY ADMINISTRATION PROGRAM AND THE FORM 990 OF SIMILAR ORGANIZATIONS. ALL OTHER MANAGEMENT COMPENSATION IS PRESENTED AS PART OF THE BUDGET PACKAGE TO THE BOARD OF DIRECTORS FOR APPROVAL. THE BOARD'S DELIBERATIONS AND DECISIONS ARE DOCUMENTED IN THE MINUTES. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE PRESENTED AT THE ANNUAL MEETING AND ARE AVAILABLE UPON WRITTEN REQUEST. IN ADDITION, THE NCUA WEBSITE POSTS FINANCIAL INFORMATION AS PART OF THE QUARTERLY CALL REPORTS. OTHER DOCUMENTS, POLICIES, AND PROCEDURES ARE AVAILABLE UPON WRITTEN REQUEST. FORM 990, PART XI, LINE 9: OTHER ADJUSTMENTS TO UNDIVIDED EARNINGS -1,314.