2013-10-03T12:10:36-05:00 2012-12-31 410746749 CLIFTONLARSONALLEN LLP 4250 N FAIRFAX DRIVE SUITE 1020 ARLINGTON VA 22203 990 2012-01-01 540662923 DUPONT COMMUNITY CREDIT UNION DUPO 5409463200 PO BOX 1365 WAYNESBORO VA 22980 GERALD B HERSHEY 5409463200 2013-10-03 1 ANGEL NGANDO P00719222 5712279500 2012 2016-02-25 16:41:14Z GERALD B HERSHEY PO BOX 1365 WAYNESBORO VA 22980 42561972 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. 7 7 269 7 218908 0 0 0 38196487 38756675 2051050 2796293 8339 1009004 40255876 42561972 0 0 7816277 6571181 12538224 13834416 0 0 0 14704954 14278703 35059455 34684300 5196421 7877672 784554404 839091982 712651501 761658873 71902903 77433109 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 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 21651 0 1 269 1 1 1 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 0 1 1 1 1 0 X THE ORGANIZATION 5409463200 PO BOX 1365 WAYNESBORO VA 22980 EVERETT J CAMPBELL JR 1.00 X 0 0 0 MARGARET HERSH 1.00 X 0 0 0 LYNN WAGNER 1.00 X 0 0 0 LES RAMSEY 1.00 X 0 0 0 Q MAURICE MO GRESHAM 1.00 X 0 0 0 SHANE WILLS 1.00 X 0 0 0 TIMOTHY SIMMONS 1.00 X 0 0 0 GERALD B HERSHEY 40.00 X 321616 0 33229 STEPHEN F ELKINS 40.00 X 154046 0 44467 KIMBERLY L DEAN 40.00 X 140109 0 14978 BARRY D SMITH 40.00 X 112475 0 31180 STEVE PITTMAN 40.00 X 102223 0 30791 830469 0 154645 5 0 1 0 0 DEPOSITORY CREDIT INTE 522100 28631496 28631496 PROCESSING FEES 522100 8466889 8381138 85751 INSURANCE SALES 524298 925014 925014 SECONDARY MARKET INCOME 900099 528675 528675 INVESTMENT SERVICES 900099 145865 145865 58736 58736 38756675 2081272 2081272 715021 0 715021 715021 715021 OTHER NON-OPERATING INCOME 900099 1003810 1003810 SUPPORT SERVICE INCOME 900099 13200 13200 OTHER INCOME 900099 4702 4702 -12708 -12708 1009004 42561972 41628043 218908 715021 6571181 985114 9026002 854616 2275834 692850 7011 127443 502144 5531647 323639 80802 1492259 430544 LOAN SERVICING 2195372 PROVISION FOR LOAN LOSS 1628743 EDUCATION & PROMOTIONAL 788071 NCUSIF STABILIZATION EX 639868 531160 34684300 5677088 6830835 42307654 21968348 576173115 606639371 33667169 10738151 22763940 22929018 102282243 130997281 3 1057943 3093257 34292418 46633872 784554404 839091982 11511266 9172353 42961964 39953336 658178271 712533184 712651501 761658873 X 0 0 0 0 71902903 77433109 71902903 77433109 784554404 839091982 X 7877672 208172 -2555638 X 0 1 X 1 0 9378679 9378679 13635670 3353452 10282218 40709 40534 175 2055014 1696417 358597 8557097 5647748 2909349 22929018 ACCRUED INTEREST 1648716 PREPAIDS AND OTHER ASSETS 15943516 NCUA DEPOSIT 6735448 FORECLOSED ASSETS 370280 LIFE INSURANCE 18924012 FHLB STOCK 3011900 46633872 MEMBERS' SHARE & SAVINGS ACCOUNTS 712533184 712533184 X DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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. THE CREDIT UNION HAS FILED TAX RETURNS FOR CALENDAR YEARS 2011 AND 2010 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, 2012 AND 2011. X X X X 0 0 0 GERALD B HERSHEY 321616 0 0 0 0 0 7500 0 25729 0 354845 0 0 0 STEPHEN F ELKINS 154046 0 0 0 0 0 32143 0 12324 0 198513 0 0 0 KIMBERLY L DEAN 140109 0 0 0 0 0 3769 0 11209 0 155087 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS 59,571 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. CO 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN DEFINED BENEFIT PENSION -2,348,813. CHANGE IN POST-RETIREMENT BENEFITS -206,825. COMMUNITY FINANCIAL SERVICES LLC 2016 GOSE CREEK ROAD SUITE 106B WAYNESBORO VA 22980 263605883 TITLE INSURANCE SERVICES TO LENDERS AND OWNERS VA 257924 102407 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 15028