2014-05-22T14:35:51-05:00 2013-12-31 410746749 CLIFTONLARSONALLEN LLP 4250 N FAIRFAX DRIVE SUITE 1020 ARLINGTON VA 22203 990 2013-01-01 540662923 DUPONT COMMUNITY CREDIT UNION DUPO 5409463200 PO BOX 1365 WAYNESBORO VA 22980 GERALD B HERSHEY PRESIDENT & CEO 5409463200 2014-05-16 1 ANGEL NGANDO P00719222 5712279500 2013 2015-11-30 17:44:51Z X GERALD B HERSHEY PO BOX 1365 WAYNESBORO VA 22980 42058960 0 X WWW.MYDCCU.COM X 1959 VA TO BE THE PREMIER PROVIDER OF FINANCIAL SERVICES, WE ARE COMMITTED TO EXCELLENCE THROUGH OUR RELATIONSHIPS WITH OUR MEMBERS, EMPLOYEES, AND COMMUNITY. 10 10 291 0 418518 9852 0 38756675 38349795 2796293 3688802 1009004 20363 42561972 42058960 0 6571181 5740959 13834416 14913540 0 0 14278703 14983444 34684300 35637943 7877672 6421017 839091982 890949454 761658873 811064625 77433109 79884829 TO BE THE PREMIER PROVIDER OF FINANCIAL SERVICES, WE ARE COMMITTED TO EXCELLENCE THROUGH OUR RELATIONSHIPS WITH OUR MEMBERS, EMPLOYEES, AND COMMUNITY. 0 0 CONSUMER & BUSINESS LENDING AND SAVINGS, CHECKING, AND CERTIFICATES OF DEPOSIT ACCOUNTS. 0 0 0 0 0 0 0 0 0 1 0 0 1 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 27910 0 1 291 1 1 1 0 0 0 0 0 X 10 10 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 0 1 1 1 1 0 VA X THE ORGANIZATION 5409463200 PO BOX 1365 WAYNESBORO VA 22980 EVERETT J CAMPBELL JR CHAIRMAN 1.00 X 0 0 0 MARGARET HERSH DIRECTOR 1.00 X 0 0 0 LYNN WAGNER SECRETARY 1.00 X 0 0 0 LESLIE RAMSEY TREASURER 1.00 X 0 0 0 Q MAURICE MO GRESHAM VICE CHAIRMAN 1.00 X 0 0 0 W ROY BARKSDALE DIRECTOR 1.00 X 0 0 0 TIMOTHY SIMMONS DIRECTOR 1.00 X 0 0 0 GERALD B HERSHEY PRESIDENT AND CEO 40.00 X X 318906 0 33162 CLARK RITCHIE ASSOCIATE DIRECTOR 1.00 X 0 0 0 WALT HENDRIX DIRECTOR EMERITUS 1.00 X 0 0 0 STEPHEN F ELKINS VP FINANCE 40.00 X 155653 0 46994 KIMBERLY L DEAN SVP TECHNOLOGY AND LENDING 40.00 X 137482 0 30123 BARRY D SMITH VP RETAIL SERVICES 40.00 X 112489 0 34997 STEVE PITTMAN CFO 40.00 X 105036 0 33513 JACKIE CASON VP HUMAN RESOURCES 40.00 X 101309 0 10799 PETER SANTANA VP LENDING OPERATIONS 40.00 X 101305 0 35031 MIKE TRANUM VP IT 40.00 X 111879 0 30726 1144059 0 255345 8 0 1 0 0 DEPOSITORY CREDIT INTERMEDIATION 522100 28175648 28175648 PROCESSING FEES 522100 9004213 8903104 101109 SECONDARY MARKET INCOME 900099 446207 446207 INSURANCE SALES 524298 326335 326335 INVESTMENT SERVICES 900099 321385 321385 76007 76007 38349795 3283519 3283519 405283 0 405283 405283 405283 SUPPORT SERVICE INCOME 900099 13200 13200 OTHER NON-OPERATING INCOME 900099 5826 5826 OTHER INCOME 900099 5313 5313 -3976 -3976 20363 42058960 41235159 418518 405283 5740959 1399404 9137538 1198709 2439912 737977 3444 121242 522285 5860571 313696 108973 1409497 455688 LOAN SERVICING 2103938 PROVISION FOR LOAN LOSS 1805335 EDUCATION & PROMOTIONAL 942079 NCUSIF STABILIZATION EX 567949 768747 35637943 6830835 4259700 21968348 20700972 6130713 5995188 606639371 655608675 38409792 11599548 22929018 26810244 130997281 135970340 3011900 9586526 3093257 2795883 37491259 29221926 839091982 890949454 9172353 9573261 39953336 48404507 712533184 753086857 761658873 811064625 X 0 0 0 0 77433109 79884829 77433109 79884829 839091982 890949454 X 6421017 -6942804 2973507 X X 0 1 X 1 0 11102444 11102444 14587715 3808679 10779036 40709 40709 0 2772862 1979616 793246 9906062 5770544 4135518 26810244 MEMBERS' SHARE & SAVINGS ACCOUNTS 753086857 753086857 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER IRC 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. CERTAIN PRODUCTS AND SERVICES PROVIDED BY SELECT STATE CHARTERED CREDIT UNIONS HAVE BEEN DEEMED BY THE INTERNAL REVENUE SERVICE (IRS), IN TECHNICAL ADVICE MEMORANDUMS (TAMS) RELEASED IN 2007, TO BE UNRELATED TO THE SPECIFIC ENTITYS EXEMPT PURPOSE. AS PRESENTED IN THE TECHNICAL ADVICE MEMORANDUMS THE NET TAXABLE INCOME FROM THESE PRODUCTS AND SERVICES WOULD BE SUBJECT TO INCOME TAXES. CREDIT UNIONS HAVE LITIGATED AGAINST THE IRS POSITIONS NOTED IN THE TAMS AND HAVE BEEN SUCCESSFUL IN HAVING COURTS DECLARE IN 2009 AND 2010 THAT REVENUE FROM INSURANCE PRODUCTS SOLD TO MEMBERS, HELPING THEM PROTECT THEIR FINANCIAL WELLBEING, QUALIFIES AS EXEMPT PURPOSE INCOME, CONTRARY TO THE IRS POSITION IN THE TAMS. IN 2014, IRS EXEMPTED INCOME EARNED FROM SALE OF CHECKS, FEES FROM A CHECK PRINTING COMPANY, DEBIT AND CREDIT CARD INTERCHANGE FEES, INTEREST FROM CREDIT CARD LOANS, AND SALE OF COLLATERAL PROTECTION INSURANCE. THE CREDIT UNION HAS FILED TAX RETURNS FOR CALENDAR YEARS 2012 AND 2011 FOR ACTIVITIES IT HAS DEEMED TAXABLE. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNIONS EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNIONS FINANCIAL POSITION OR RESULTS OF OPERATIONS. DCCU TITLE SERVICES, LLC, OPERATES AS A LIMITED LIABILITY COMPANY. AS A RESULT, FOR INCOME TAX PURPOSES, ANY TAXABLE INCOME IS PASSED THROUGH TO THE OWNER. THE CREDIT UNION ADOPTED THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. AS A RESULT, THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2013 AND 2012. X X X X 0 0 0 GERALD B HERSHEY PRESIDENT AND CEO 318906 0 0 0 0 0 7650 0 25512 0 352068 0 0 0 STEPHEN F ELKINS VP FINANCE 155653 0 0 0 0 0 34542 0 12452 0 202647 0 0 0 KIMBERLY L DEAN SVP TECHNOLOGY AND LENDING 137482 0 0 0 0 0 19124 0 10999 0 167605 0 0 0 GERALD HERSHEY CEO SPLIT DOLLAR LIFE INSURANCE X 5995188 0 0 0 5995188 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS 66,094 GENERAL MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER IS ENTITLED TO ONE VOTE DURING BOARD MEMBER ELECTIONS. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS ARE ENTITLED TO VOTE ON CORPORATE MATTERS AS REQUIRED UNDER VA STATE LAW. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS REVIEWED AND APPROVED BY THE CEO AND SVP OF FINANCE AND RETAIL PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 15 THE CEO SALARY RANGE IS DETERMINED USING A COMPENSATION AND PERFORMANCE CONSULTANT. CEO SALARY RANGE IS IDENTIFIED HEAVILY USING MARKET DATA ANALYSIS; AND INDIVIDUAL COMPENSATION IS DETERMINED BY THE CREDIT UNION BOARD OF DIRECTORS, ANNUALLY, USING THE SALARY RANGE AND THE PERFORMANCE EVALUATION OF THE CEO. COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES ARE DETERMINED BY THE INDEPENDENT CONSULANT AND BY COMPEASE, WHICH USES MARKET DATA AND JOB DESCRIPTIONS. THE PROCESS OCCUR ANNUALLY AS PART OF BUDGET PROCESS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FINANCIAL STATEMENTS ARE POSTED AT BRANCH OFFICE LOCATIONS. FORM 990, PART XI, LINE 9: CHANGE IN DEFINED BENEFIT PENSION 1,995,020. CHANGE IN POST-RETIREMENT BENEFITS 978,487. FORM 990, PART XII, LINE 2C: THE PROCESS FOR REVIEW AND OVERSIGHT OF THE AUDIT HAS NOT CHANGED FROM PRIOR YEAR. COMMUNITY FINANCIAL SERVICES LLC 2016 GOSE CREEK ROAD SUITE 106B WAYNESBORO VA 22980 263605883 TITLE INSURANCE SERVICES TO LENDERS AND OWNERS VA 23998 110605 DUPONT COMMUNITY CU 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 CUSO INVESTMENTS A 1300