2012-08-15T17:09:59-00:00 2011-12-31 ORTH CHAKLER MURNANE AND CO CPAs 12060 SW 129 COURT SUITE 201 MIAMI FL 33186 990 2011-01-01 586032554 LGE COMMUNITY CREDIT UNION LGEC 7704240060 430 COMMERCE PARK DRIVE MARIETTA GA 30060 CANDICE BRACEWELL 2012-08-15 true DOUGLAS ORTH 3052328272 2011 2016-02-24 21:20:13Z CHRIS LEGGETT 430 COMMERCE PARK DRIVE MARIETTA GA 30060 43228153 false 3804 X WWW.LGECCU.ORG X CREDIT UNION 1951 GA PROVIDE SAVINGS AND LENDING ACTIVITIES TO MEMBER OWNERS OF THE COOPERATIVE. 9 9 252 13 48596 -97821 0 41725909 39930088 2550901 2670540 34500 28500 44311310 42629128 0 0 14406349 15141876 0 0 24784106 24917811 39190455 40059687 5120855 2569441 767616886 828097719 679750833 737169917 87866053 90927802 PROVIDE SAVINGS AND LENDING ACTIVITIES TO MEMBER OWNERS OF THE COOPERATIVE. false false INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM INVESTMENT OF MEMBERS FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. false false false false false false false false true true 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 false false false false true 25249 0 true 252 true true true false false false false false false X 9 9 false false false false true true false true true false false false true true true false true true true false X CANDICE D BRACEWELL 7704240060 430 COMMERCE PARK DRIVE MARIETTA GA 30060 C LEGGETT 040.00 X 235381 0 36930 C BRACEWELL 040.00 X 150722 0 26030 H BRANCH III 040.00 X 147446 0 25949 S STANFIELD 040.00 X 115688 0 28150 L KING 040.00 X 127839 0 35017 S TILLERY 040.00 X 118336 0 21576 J KINNEY 040.00 X 114815 0 31891 D BRAUND 001.00 X 0 0 0 M BROCK 001.00 X 0 0 0 R DIXON 001.00 X 0 0 0 E HARRELL 001.00 X 0 0 0 A KASSIS 001.00 X 0 0 0 F MYERS 001.00 X 0 0 0 R ROBERTS 001.00 X 0 0 0 H TEASLEY 001.00 X 0 0 0 DR P THOMAS 001.00 X 0 0 0 S WALLS 001.00 X 0 0 0 W SHAW 040.00 X 112866 0 26326 M FARSINEJAD 040.00 X 104449 0 21349 J AUSTIN 001.00 X 0 0 0 M CAGLE 001.00 X 0 0 0 1227542 253218 9 false true false NATIONAL CREDIT UNION ADMINISTRATION 1775 Duke Street Alexandria VA 223143428 SHARE DEPOSIT INSURANCE 2002974 BLUE CROSS BLUE SHIELD OF GEORGIA INC 3350 Peachtree Road NE Atlanta GA 30326 EMPLOYEE HEALTH BENEFITS 1900417 PSCU FINANCIAL SVCS 560 Carillon Parkway St Petersburg FL 33716 CALL CENTER MEMBER SUPPORT 437462 DIEBOLD INCORPORATED 5995 Mayfair Road North Canton OH 44720 ATM SUPPORT 429742 PALMETTO COOPERATIVE SERVICES LLC 7618 Woodrow Street Irmo SC 29063 CHECK CLEARING SERVICES 320850 27 INCOME ON LOANS 522100 28452451 28452451 FEE/OTHER INCOME 522100 11429041 11429041 UBIT REVENUE 524298 48596 48596 39930088 2664548 2664548 28500 28500 28500 28500 605017 599025 5992 5992 5992 42629128 42580532 48596 0 0 0 0 929152 929152 0 10406043 10406043 260393 260393 2710437 2710437 835851 835851 0 72038 72038 114161 114161 0 0 462336 462336 1170465 1170465 5666716 5666716 0 0 1267634 1267634 303729 303729 0 0 6698034 6698034 103434 103434 1966987 1966987 136975 136975 PROVISION FOR LOAN LOSSES 3360134 3360134 CASH SHORT/OVER 8032 8032 LOAN SERVICING 1947970 1947970 NCUA INSURANCE PREMIUM ASSESSMENTS 1639166 1639166 0 40059687 40059687 5807969 4578357 111503635 6635554 205051 2925066 510462860 529482624 574502 606564 38935315 22422055 12694508 16513260 112200243 184653355 2069969 62319498 12098149 20383441 767616886 828097719 5300975 5907481 40000000 45000000 634449858 686262436 679750833 737169917 X 87866053 90927802 87866053 90927802 767616886 828097719 X 2569441 492308 X false true true X false false 4879887 4818993 19277633 9945965 9331668 2417960 1550428 867532 12359835 10864768 1495067 16513260 FEDERAL RESERVE BANK 20971687 F INVESTMENTS IN CUSOS 830576 F MEMBERSHIP CAPITAL SHARES 1413617 F LONG TERM CDS 39103618 F 62319498 REGULAR SHARES 196320856 MONEY MARKETS 73015071 CERTIFICATES IRA CERTIFICATES 207433615 SHARE DRAFTS 191294991 IRAS 17821220 HEALTH SAVINGS 376683 ESCROWS 686262436 42629128 40059687 2569441 492308 492308 3061749 X 2 THE INTERNAL REVENUE SERVICE IRS HAS ISSUED A CLARIFICATION IN THE FORM OF A TECHNICAL ADVICE MEMORANDUM TAMs ON THE ISSUE OF UNRELATED BUSINESS INCOME TAX UBIT. THE IRS HAS INDICATED THIS MEMORANDUM WILL CLARIFY ITS POSITION ON WHAT TYPES OF REVENUE ARE SUBJECT TO UBIT. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANY STATES HAVE SIMILAR LAWS RELATED TO VARIOUS ACTIVITIES CONDUCTED BY STATE-CHARTERED CREDIT UNIONS. X 2 continued... AT THIS TIME, THERE IS UNCERTAINTY REGARDING WHETHER THE CREDIT UNION SHOULD PAY INCOME TAX ON CERTAIN TYPES OF NET TAXABLE INCOME FROM ACTIVITIES THAT MAY BE CONSIDERED BY TAXING AUTHORITIES AS UNRELATED TO THE PURPOSE FOR WHICH THE CREDIT UNION WAS GRANTED NONTAXABLE STATUS. THE CREDIT UNION HAS NOT FILED ANY TAX RETURNS IN THE PAST FOR POTENTIAL TAXABLE ACTIVITIES. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. X 2 continued... MANAGEMENT HAS EVALUATED THE CREDIT UNIONS TAX POSITIONS AND CONCLUDED THAT THE CREDIT UNION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENTS TO THE FINANCIAL STATEMENTS. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES DEEMED TO BE UNRELATED TO THE CREDIT UNIONS NONTAXABLE STATUS IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNIONS FINANCIAL POSITION OR RESULTS OF OPERATIONS. X 2 continued... WHILE IT SEEMS LIKELY THAT CERTAIN INCOME STREAMS OF STATE CHARTERED CREDIT UNIONS WILL BE SUBJECT TO UBIT, THE ISSUE REMAINS OPEN. WITH FEW EXCEPTIONS, THE CREDIT UNION IS NO LONGER SUBJECT TO EXAMINATION BY THE IRS FOR TWO TAX YEARS ENDED BEFORE DECEMBER 31, 2011. X X X false false false C LEGGETT 219914 15000 467 17284 19646 272311 C BRACEWELL 123054 27000 668 17696 8334 176752 H BRANCH III 139238 6075 2133 18511 7438 173395 L KING 121678 5725 436 16625 18392 162856 Form 990 Part VI 6 THE ORGANIZATION HAS MEMBERS Form 990 Part VI 7A THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS Form 990 Part VI 12C LGECCU MAINTAINS A CONFLICT OF INTEREST POLICY WITHIN ITS CODE OF ETHICS. THIS POLICY IS ENFORCED AT ALL TIMES AND REVIEWED PERIODICALLY BY OUR INTERNAL AUDIT DEPARTMENT. Form 990 Part VI 15A LGECCU USES SURVEY DATA DURING AN ANNUAL REVIEW PROCESS TO DETERMINE THE REASONABLENESS OF ALL COMPENSATION AND BENEFITS. Form 990 Part VI 15B THE REVIEW OF THE CEOS COMPENSATION IS A FUNCTION OF THE BOARD OF DIRECTORS. ANNUALLY, THE BOARD USES AN EXECUTIVE COMPENSATION SURVEY FROM AN INDEPENDENT THIRD PARTY TO DETERMINE THE CEOS COMPENSATION. FOR ALL OTHER POSITIONS IN THE ORGANIZATION, PAY RANGES ARE REVIEWED AND APPROVED ON AN ANNUAL BASIS BY THE BOARD OF DIRECTORS UTIZLIZING DATA FROM AN INDEPENDENT COMPENSATION STUDY. Form 990 Part VI 19 THE CREDIT UNIONS GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNIONS CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNIONS FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLILC VIEWING ON NCUA.GOB VIA THE QUARTERLY 5300 FILING. Form 990 Part VI 11 LGECCU ENGAGED A PAID PREPAREER, ORTH , CHAKLER, MURNANE AND CO., CPAs, TO COMPLETE OUR FORM 990 FILING. UPON COMPLETION OF THE RETURN, IT WAS REVIEWED AND APPROVED BY EXECUTIVE MANAGEMENT. Form 990 Part XI 5 NET UNREALIZED HOLDING GAINS ON SECURITIES ARISING DURING THE YEAR. Form 990 Part VI Section A Line 6 THE ORGANIZATION HAS MEMBERS Form 990 Part VI Section B Line 7A THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS Form 990 Part VI Section B Line 12C LGECCU MAINTAINS A CONFLICT OF INTEREST POLICY WITHIN ITS CODE OF ETHICS. THIS POLICY IS ENFORCED AT ALL TIMES AND REVIEWED PERIODICALLY BY OUR INTERNAL AUDIT DEPARTMENT. Form 990 Part VI Section B Line 15A LGECCU USES SURVEY DATA DURING AN ANNUAL REVIEW PROCESS TO DETERMINE THE REASONABLENESS OF ALL COMPENSATION AND BENEFITS. Form 990 Part VI Section B Line 15B THE REVIEW OF THE CEOS COMPENSATION IS A FUNCTION OF THE BOARD OF DIRECTORS. ANNUALLY, THE BOARD USES AN EXECUTIVE COMPENSATION SURVEY FROM AN INDEPENDENT THIRD PARTY TO DETERMINE THE CEOS COMPENSATION. FOR ALL OTHER POSITIONS IN THE ORGANIZATION, PAY RANGES ARE REVIEWED AND APPROVED ON AN ANNUAL BASIS BY THE BOARD OF DIRECTORS UTIZLIZING DATA FROM AN INDEPENDENT COMPENSATION STUDY. Form 990 Part VI Section C Line 19 THE CREDIT UNIONS GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNIONS CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNIONS FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLILC VIEWING ON NCUA.GOB VIA THE QUARTERLY 5300 FILING. Form 990 Part VI Section B Line 11 LGECCU ENGAGED A PAID PREPAREER, ORTH , CHAKLER, MURNANE AND CO., CPAs, TO COMPLETE OUR FORM 990 FILING. UPON COMPLETION OF THE RETURN, IT WAS REVIEWED AND APPROVED BY EXECUTIVE MANAGEMENT. Form 990 Part XI Line 5 NET UNREALIZED HOLDING GAINS ON SECURITIES ARISING DURING THE YEAR. LGE INSURANCE SERVICES LLC 430 COMMMERCE PARK DR MARIETTA GA 30060 272540699 INSURANCE SALES GA 468802 434569 LGECCU