2013-11-12T09:19:37-00:00 2012-12-31 ORTH CHAKLER MURNANE AND CO CPAs 12060 SW 129 COURT SUITE 201 MIAMI FL 33186 990 2012-01-01 730564572 FAA CREDIT UNION FAAC 4056821990 PO BOX 26406 OKLAHOMA CITY OK 73126 NATALIA VALENZUELA 2013-11-12 true DOUGLAS ORTH 3052328272 2013-11-12 2012 2016-02-24 21:20:13Z STEVE RASMUSSEN PO BOX 26406 OKLAHOMA CITY OK 73126 51124287 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 8 189 12 291053 32155 0 18296338 15887121 4486643 4781674 4139355 5033784 26922336 25702579 0 0 7949612 8346279 0 0 18733887 14301479 26683499 22647758 238837 3054821 511357728 533314216 472563108 490681080 38794620 42633136 X LOANS, DEPOSITS, AND OTHER FINANCIAL SERVICES FOR THE BENEFIT OF THE MEMBERS OF THE CREDIT UNION. false false FAA CREDIT UNION HAS 47,060 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 2012 FAA CREDIT UNION HAS 5,390 SHARE CERTIFICATES WITH BALANCES OF 137,693,435 AND 1,400 IRA SHARE CERTIFICATES WITH BALANCES OF 29,431,290. 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 true false true false false false true true false true false false false false false false false false false false false true false false false false false false false false false false true true false false false true 11126 0 true 189 true true true false false false false false X 8 8 false false false false true true false 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 001.00 001.00 X 0 0 0 TERRY DAVIDSON 001.00 001.00 X 0 0 0 JESSIE MCMULLEN 001.00 001.00 X 0 0 0 LINDA LINDSEY 001.00 001.00 X 0 0 0 RAY BRADFORD 001.00 001.00 X 0 0 0 VIRGINIA HICKS 001.00 001.00 X 0 0 0 PHYLLIS HOWARD 001.00 001.00 X 0 0 0 STEVE RASMUSSEN 040.00 040.00 X 327900 0 21892 NATALIA VALENZUELA 040.00 040.00 X 103090 0 19697 VIC THATE 040.00 040.00 X 169795 0 11338 JEF FIALKOWSKI 040.00 040.00 X 138153 0 21082 GLEN FIELDS 040.00 040.00 X 129700 0 10570 JULIE GAMBLIN 040.00 040.00 X 115239 0 19796 983877 104375 6 false true false PINNACLE BUSINESS SYSTEMS INC 3824 S BOULEVARD STE 200 EDMOND OK 73013 SYSTEM HARDWARE/SOFTWARE, DATA PROCESSING 470107 AT&T CORPORATION PO BOX 660688 DALLAS TX 75266 TELECOMMUNICATIONS 281121 HARLAND FINANCIAL SOLUTIONS 400 SW 6TH AVENUE STE 200 PORTLAND OR 97204 SYSTEM/DATA PROCESSING/MAINTENANCE SVC. 221001 WORKFLOWONE 9603 DEERECO RD STE 200 TIMONIUM MD 21093 PRINTING/MAILING PROCESSOR 270383 FEDERAL PROTECTION INC 1717 W 6TH STREET AUSTIN TX 78703 BANKING EQUIPMENT/MAINTENANCE SERVICE 231277 6 INCOME ON LOANS 522100 14174987 14174987 FEES/CHARGES/OTHER 522100 1421081 1421081 UNRELATED BUSINESS INCOME 900099 291053 291053 15887121 4027554 4027554 25537823 638005 24958383 463325 579440 174680 754120 754120 OTHER OPERATING INCOME 522100 5033784 5033784 5033784 25702579 25411526 291053 0 0 0 0 653712 653712 0 5467002 5467002 491698 491698 1232519 1232519 501348 501348 55476 55476 23559 23559 117861 117861 0 0 1387351 1387351 573152 573152 1205951 1205951 0 0 482906 482906 0 0 172780 172780 4103783 4103783 0 786965 786965 200552 200552 SEE ATTACHED SCHEDULE 5191143 5191143 0 22647758 22647758 661562 3235008 37712841 7780129 2617087 3401717 270390104 294640630 603358 572497 21159447 10102301 11163300 11057146 178695485 201960842 1546200 1601800 7967791 9064447 511357728 533314216 2975488 4797054 1346774 1891929 468240846 483992097 472563108 490681080 X 38794620 42633136 38794620 42633136 511357728 533314216 3054821 783695 X false true X true false 200 200 200 true OKLAHOMA CREDIT UNION POLITICAL ACTION COMMITTEE (OCUPAC) PO BOX 702297 TULSA OK 74170 731281199 200 false true X 3381813 3381813 9728317 3187845 6540472 749562 566505 183057 7261167 6341896 919271 38588 6055 32533 11057146 Financial derivatives and other financial products Closely-held equity interests Federal income taxes REGULAR SHARES 99846959 SHARE DRAFT 105883636 CERTIFICATE OF DEPOSIT 137693435 MONEY MARKET 86638351 IRA CERTIFICATES 29431290 IRA SHARES 13930839 SUB SHARE ACCOUNTS 8903547 BUSINESS SHARES 1633800 OTHER SHARES 30240 483992097 X X 2 THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE LAWS. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE CONSOLIDATED 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 THE INTERNAL REVENUE CODE IRC SECTION 50414. 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 UNRELATED BUSINESS INCOME UBI DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE IRS RELEASED TECHNNICAL 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. 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 RECOGNITON OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2011, 2010, AND 2009 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS. THE FILING YEARS OPEN FOR EXAMINATION 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. X X true true X X X X X false true false STEVE RASMUSSEN 222165 4037 101698 11108 10784 349792 VIC THATE 115013 54782 5750 5588 181133 JEF FIALKOWSKI 120780 17373 6039 15043 159235 I 4b STEVE RASMUSSEN 101,698 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. Form 990 Part VI Section B Line 15 FAA CU USES THE COMPEASE STRUCTURED SYSTEM THROUGH KOKER, GOODWIN, AND ASSOCIATES. EACH POSITION HAS A PAY RANGE WITH LOW, MEDIAN, AND HIGH POSITIONS WITHIN THE RANGE. THE RANGES ARE ADJUSTED BY KOKER, GOODWIN AND ASSOCIATES 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. UNITED FINANCIAL PARTNERS LLC 10201 S WESTERN AVENUE OKLAHOMA CITY OK 73139 020777676 BUSINESS LENDING OK 1210 N/A FIRST RATE AUTO LLC PO BOX 26090 OKLAHOMA CITY OK 73126 271009000 SELLING REPOED AUTO LOANS OK NA Related 57327 27959 false false 0.33330 false false false false false false false false false false false false false false false false false false false I 1 UNITED FINANCIAL PARTNERS, LLC WAS LIQUIDATED DURING THE MONTH OF JULY 2012.