2012-05-14T12:20:12-07:00 2011-12-31 990 2011-01-01 741137995 FIRST CENTRAL CREDIT UNION FIRS 2547769333 6201 SANGER AVENUE WACO TX 76710 JO BETSY TYLER 2547769333 2012-05-14 2011 2016-02-24 21:20:13Z JO BETSY TYLER 6201 SANGER AVENUE WACO TX 76710 4036993 0 X www.firstcentralcu.com X credit union 1937 TX FIRST CENTRAL CREDIT UNION IS A FINANCIAL INSTITUTION, SPECIFICALLY A CREDIT UNION WHICH IS A COOPERATIVE PROVIDER OF FINANCIAL SERVICES TO OUR MEMBERS. FIRST CENTRAL CREDIT UNION IS A STATE CHARTERED CREDIT UNION AND A MEMBER OF NCUA. 8 8 50 8 223094 -3858 0 0 3181137 3563348 299645 249591 200699 224054 3681481 4036993 0 0 0 0 1305101 1341825 0 0 0 2076435 2143204 3381536 3485029 299945 551964 46492346 53898589 42034044 48364175 4458302 5534414 THE ORGANIZATION IS A FINANCIAL INSTITUTION, SPECIFICALLY A CREDIT UNION. A CREDIT UNION IS A COOPERATIVE, MEMBER-OWNED, NON-PROFIT PROVIDER OF FINANCIAL SERVICES TO ITS MEMBERS. 0 0 0 0 0 SHARES ACCOUNTS: FIRST CENTRAL CREDIT UNION'S SHARE ACCOUNTS OFFERS ADVANTAGES TO MEMBERS OF ALL AGES. THE CREDIT UNION HAD 11,710 MEMBER OWNED ACCOUNTS AS OF DECEMBER 31, 2011. MEMBER SAVINGS ACCOUNTS PAY DIVIDENDS QUARTERLY. FIRST CENTRAL CREDIT UNION OFFERS ACCESS THROUGH BRANCHES AT DIFFERENT LOCATIONS, HOME BANKING VIA THE INTERNET, TELEPHONE, AND ATM MACHINES WORLDWIDE. WE OFFER SPECIAL SAVINGS ACCOUNTS DESIGNED FOR CHILDREN AND TEENAGERS TO ENCOURAGE THE DEVELOPMENT OF CONSISTENT SPENDING HABITS. 0 0 0 CHECKING ACCOUNTS: FIRST CENTRAL CREDIT UNION PROVIDES CHECKING ACCOUNTS FOR MEMBERS WITH VARIOUS FEATURES FROM FEE ACCOUNTS TO THOSE WITH ENHANCED BENEFITS. WE DO OFFER CHECKING ACCOUNTS THAT PAY DIVIDENDS MONTHLY. ADDITIONALLY, THE CREDIT UNION EXTENDS THE REACH OF THESE ACCOUNTS TO ALL MEMBERS WITH FREE DEBIT CARDS, INTERNET ACCOUNT ACCESS, AND FREE USE OF BILL PAY. OVER 45% OF THE CREDIT UNION MEMBERS HAVE A CHECKING ACCOUNT. FIRST CENTRAL CREDIT UNION ALSO OFFERS MONEY MARKET ACCOUNTS. 0 0 0 MEMBER LOANS: FIRST CENTRAL CREDIT UNION PROVIDES VEHICLE LOANS, SIGNATURE LOANS, HOME EQUITY LOANS, REAL ESTATE LOANS, AND CREDIT CARDS. WE UTILIZE VERY EFFICIENT UNDER WRITING PROCEDURES TO PROVIDE REASONABLE AND COMPETITIVE RATES TO OUR MEMBERS. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 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 1 2073 0 1 50 1 1 1 0 0 0 0 0 X 8 8 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 0 1 1 0 0 X JO BETSY TYLER 2547769333 6201 SANGER AVENUE WACO TX 76710 VICKI DECKARD 1 X 0 0 0 EVERETT ALEXANDER 1 X 0 0 0 RICHARD HARTLEY 1 X 0 0 0 GLENN WILLIAMSON 1 X 0 0 0 DONNA WILHELM 1 X 0 0 0 JIM ZORN 1 X 0 0 0 ELIO SMYTHE 1 X 0 0 0 BEVERLY WALKER 1 X 0 0 0 JO BETSY TYLER 40 X 105969 0 12485 105969 0 12485 1 0 0 0 0 0 0 0 0 0 0 0 0 INTEREST ON LOANS 522130 2404321 2404321 0 0 MEMBER FEES AND CHARGES 522130 1135760 1135760 0 0 LOAN FEE INCOME 522130 4000 4000 0 0 19267 19267 0 0 3563348 249591 0 0 249591 0 0 0 0 0 0 0 0 960 0 0 0 960 0 960 0 0 960 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 OTHER INCOME 900099 223094 0 223094 0 0 0 0 0 223094 4036993 3563348 223094 250551 0 0 0 0 118454 0 971638 36200 115749 99784 0 1802 27000 0 0 6500 74286 199440 534966 73543 0 186594 26268 0 63367 319175 0 173258 156414 PROVISION FOR LOAN LOSS FEES 174366 LOAN SERVICING FEES 94590 ASSOCIATION DUES 20788 STATE OF TEXAS OPERATING FEES 9864 983 3485029 0 0 0 1032233 1090150 4543180 5245519 0 0 0 0 0 0 0 0 27421978 31001548 0 0 69239 64250 3480197 1421117 2139227 2059080 0 0 10555000 13622232 0 0 0 0 731489 815810 46492346 53898589 448145 679894 0 0 0 0 0 0 0 0 0 0 0 0 0 0 41585899 47684281 42034044 48364175 X 0 0 0 0 4458302 5534414 4458302 5534414 46492346 53898589 X 551964 524148 X 0 0 0 0 277321 277321 0 1768696 404872 1363824 0 140643 116608 24035 0 1252707 885262 367445 0 40830 14375 26455 2059080 0 0 CERTIFICATES OF DEPOSITS-w/BANKS 11020155 C HTM INVESTMENTS-w/GOV.AGENCIES 1600000 C CERTIFICATES OF DEPOSIT-w/CR.UNIONS 894000 C MEMBERSHIP CAPITAL AT CORP.CU 108077 C 13622232 0 MEMBER SHARES ON DEPOSIT 47684281 47684281 JO BETSY TYLER HOME EQUITY LOAN X 25000 13934 0 0 1 ELIO SMYTHE VEHICLE X 25230 5835 0 0 1 VICKI DECKARD VEHICLE X 21000 12221 0 0 1 BEVERLY WALKER PERSONAL X 7200 5425 0 0 1 37415 F990_P06_S0A_L06 Form 990, Part VI, Section A, Line 6 FIRST CENTRAL CREDIT UNION IS A CREDIT UNION WHICH IS A MEMBER OWNED COOPERATIVE OF FINANCIAL SERVICES. F990_P06_S0A_L07a Form 990, Part VI, Section A, Line 7a FIRST CENTRAL CREDIT UNION HAS A NOMINATING COMMITTEE THAT IS APPOINTED BY THE BOARD OF DIRECTORS TO SELECT CANDIDATES. THE CANDIDATES ARE PRESENTED TO THE MEMBERSHIP VIA THE CREDIT UNION NEWSLETTER. SHOULD SOMEONE CHOOSE TO RUN AGAINST A CANDIDATE, THEY WOULD NEED TO GET A PETITION WITH 75 MEMBER SIGNATURES TO CAUSE A BALLOT VOTE, OTHERWISE THE CANDIDATES SELECTED BY THE NOMINATING COMMITTEE WILL BE ELECTED. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b FIRST CENTRAL CREDIT UNION'S BOARD OF DIRECTORS WILL REVIEW AND APPROVE THE FORM 990 DURING A MONTHLY BOARD MEETING BEFORE THE MAY 2012 FILING DEADLINE. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c OUR ORGANIZATION DOES REGULARY AND CONSISTENTLY MONITOR AND ENFORCE COMPLIANCE WITH THE WRITTEN CONFLICT OF INTEREST POLICY. OUR BOARD OF DIRECTORS AND MANAGEMENT TEAM DOES REVIEW AND MONITOR THIS POLICY ANNUALLY. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 THE BOARD OF DIRECTORS UTILIZED COMPENSATION REPORTS FROM AN INDEPENDENT COMPENSATION CONSULTANT IN 2000 TO ASSIST IN THE ESTABLISHMENT OF THE CEO'S COMPENSATION. EVERY YEAR SINCE THEN THE BOARD OF DIRECTORS MEET ANNUALLY TO DISCUSS AND DETERMINE THE CEO'S SALARY RAISE PERCENTAGE INCREASE. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 FIRST CENTRAL CREDIT UNION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO OUR MEMBERS UPON REQUEST AND OUR FINANCIAL STATEMENTS ARE POSTED MONTHLY FOR PUBLIC VIEWING IN EACH BRANCH'S LOBBY AREA. F990_P11_S00_L05 Form 990, Part XI, Line 5 FIRST CENTRAL CREDIT UNION WAS THE SURVIVING CREDIT UNION WITH A MERGER WITH SEARS WACO CREDIT UNION IN 2011. FIRST CENTRAL CREDIT UNION ABSORBED SEARS WACO CREDIT UNION'S REMAINING UNDIVIDED EARNINGS INTO THEIR UNDIVIDED EARNINGS GENERAL LEDGER ACCOUNT FOR THE AMOUNT OF $525,148.