2024-05-02T17:02:29-05:00 2023-12-31 990 2023-01-01 750275915 EECU EECU 8178820251 1617 WEST 7TH STREET FORT WORTH TX 76102 Bradley J Schone Chief Financial Officer 8178820075 2024-05-02 Bradley Schone 999009999 0 0 AAL1 IAL1 2023 2023-04-26 12:10:37Z Lonnie Nicholson 1617 WEST 7TH STREET FORT WORTH TX 76102 198598316 0 X eecu.org X 1934 TX The credit union provides financial services to its members through consumer and business loans and savings deposits that encourage thrift and seek to improve the our members' economic condition. 9 5 479 0 0 0 0 0 97364610 135331505 11775404 21215717 43139096 42051094 152279110 198598316 0 0 0 0 43213530 43303529 0 0 0 60844670 108900747 104058200 152204276 48220910 46394040 3447892477 3739474922 43325221 43247318 3404567256 3696227604 X We are a member-owned financial institution that provides a broad array of competitive products and services, adhering to sound management and ethic principles. We are dedicated to the communities we serve with the goal of promoting thrift, improving the financial well-being of all members and building lifelong financial relationships one experience at a time. 0 0 The credit union operates under the provisions of the laws and rules of the Texas Credit Union Department and National Credit Union Administration. Its purpose is to encourage thrift among its members and provide credit at fair and reasonable rates of interest. This provides an opportunity to improve the members' economic conditions. Voluntary cooperative, non-profit credit union incorporated under the provisions of the laws and rules of the Texas Credit Union Department for the purpose of encouraging thrift among its members, providing credit at fair and reasonable rates of interest and providing an opportunity to improve our members' economic condition. 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 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 0 0 1 0 0 1 479 1 0 0 0 0 0 0 0 0 1 0 X 9 5 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X Bradley Schone 8178820215 1617 West 7th Street Fort Worth TX 76102 George Thompson Chairman of the Board 1.00 0.00 X 11057 0 0 Dr Joe Bean Secretary 1.00 0.00 X 10773 0 0 Dr Rich Dear Vice Chairman 1.00 0.00 X 11486 0 0 Mauro Serrano Director 1.00 0.00 X 9502 0 0 Frank Molinar Director 1.00 0.00 X 10123 0 0 Ben Davis Director 1.00 0.00 X 9800 0 0 Karel Rucker Director 1.00 0.00 X 9700 0 0 Dr Nikita Russell Director 1.00 0.00 X 10658 0 0 Randall Armstrong Director 1.00 0.00 X 3500 0 0 Lonnie Nicholson Chief Executive Officer 40.00 0.00 X 2312265 0 30379 Matt Kaudy Executive Vice President 40.00 0.00 X 777103 0 55633 Bradley Schone Chief Financial Officer 40.00 0.00 X 628564 0 33133 David Shurtz Chief Risk Officer 40.00 0.00 X 702671 0 36354 Tim Burch Chief Information Officer 40.00 0.00 X 677187 0 28863 Robin Harris Chief Member Experience Officer 40.00 0.00 X 668810 0 30379 Paula Holcomb Chief People Officer 40.00 0.00 X 556225 0 28198 Chris Brown started Oct 2023 Chief Lending Officer 40.00 0.00 X 196820 0 0 Tim Grove Vice President of IT 40.00 0.00 X 455365 0 55633 Keith Spivey Vice President of Payment Systems 40.00 0.00 X 457592 0 42497 Scott Hounchell President TBLG 40.00 0.00 X 178052 0 39243 Tracey Breton AVP of Contact Center 40.00 0.00 X 192726 0 34182 Doug King Director Emerging Payments & Card Services 1.00 0.00 X 218330 0 11017 Bryan Liles Vice President Commercial Lending 1.00 0.00 X 267234 0 22204 Mouli Gajapathy AVP of IT Development & Implementation 1.00 0.00 X 217762 0 19268 Robert C Sanger Retired Dec 2023 Executive Vice President 40.00 0.00 X 1768128 0 52879 Joe Rossa Retired Dec 2023 Chief Credit Officer 40.00 0.00 X 578475 0 59350 Leah Koke retired Dec 2023 Vice President Indirect Lending 0.00 0.00 X 205754 0 24226 11145662 0 603438 53 1 1 0 0 Loans 522100 135331505 135331505 135331505 21215717 21215717 3732 3732 Fee Income 522100 20402412 20402412 Miscellaneous 522100 17304583 17304583 Non-Operating 522100 4071210 4071210 269157 269157 42047362 198598316 198598316 0 0 10325481 23774093 1043876 5564392 2595687 113709 366349 199360 2993333 14693900 165420 3557039 362944 55309968 2160892 Loan Servicing / Provis 16949890 Miscellaneous 781354 Dues 242987 Regulatory 197817 10805785 152204276 105875270 52528275 283081312 383971020 8609295 11228649 256746 165056 2714273385 2971226294 16147230 20860341 64503649 24519507 37851835 39984142 241977601 216299635 909 0 39818894 43211510 3447892477 3739474922 43325221 43247318 43325221 43247318 X 3005099202 3248747078 0 0 399468054 447480526 3404567256 3696227604 3447892477 3739474922 X 46394040 -16216061 261482369 X X 0 1 X 1 0 12996344 12996344 33154195 11108880 22045315 1688494 406701 1281793 16664616 13003926 3660690 39984142 FHLB 1796200 C Stock Investments 40564611 F TBLG CUSO 100000 C Collateralized Mortgage Obligations 4195643 F Mortgage Backed Securities 169643181 F 216299635 X Part X, Line 2: The independent audit for 2022 did not include disclosure of uncertain tax positions under FIN 48. X X 1 1 X X X X X 0 1 0 Lonnie Nicholson Chief Executive Officer 909623 0 405331 0 997311 0 22500 0 7879 0 2342644 0 27000 0 Robert C Sanger Retired Dec 2023 Executive Vice President 775242 0 273641 0 719245 0 45000 0 7879 0 1821007 0 46305 0 Matt Kaudy Executive Vice President 447109 0 314098 0 15896 0 45000 0 10633 0 832736 0 40000 0 David Shurtz Chief Risk Officer 389396 0 295912 0 17363 0 22500 0 13854 0 739025 0 27000 0 Tim Burch Chief Information Officer 379759 0 281786 0 15642 0 22500 0 6363 0 706050 0 26369 0 Robin Harris Chief Member Experience Officer 380894 0 271194 0 16722 0 22500 0 7879 0 699189 0 27000 0 Bradley Schone Chief Financial Officer 347740 0 260428 0 20396 0 22500 0 10633 0 661697 0 20500 0 Joe Rossa Retired Dec 2023 Chief Credit Officer 328428 0 232151 0 17896 0 44972 0 14378 0 637825 0 47500 0 Paula Holcomb Chief People Officer 328535 0 219927 0 7763 0 22500 0 5698 0 584423 0 26495 0 Tim Grove Vice President of IT 274702 0 178842 0 1821 0 45000 0 10633 0 510998 0 47500 0 Keith Spivey Vice President of Payment Systems 279365 0 176371 0 1856 0 33058 0 9439 0 500089 0 37558 0 Bryan Liles Vice President Commercial Lending 202800 0 62422 0 2012 0 12792 0 9412 0 289438 0 18048 0 Mouli Gajapathy AVP of IT Development & Implementati 200385 0 17106 0 271 0 10019 0 9249 0 237030 0 8226 0 Leah Koke retired Dec 2023 Vice President Indirect Lending 170714 0 33978 0 1062 0 22500 0 1726 0 229980 0 18048 0 Doug King Director Emerging Payments & Card Se 207849 0 10131 0 350 0 2838 0 8179 0 229347 0 2838 0 Tracey Breton AVP of Contact Center 161145 0 31051 0 530 0 20949 0 13233 0 226908 0 19886 0 Scott Hounchell President TBLG 176800 0 142 0 1110 0 26400 0 12843 0 217295 0 29902 0 Chris Brown started Oct 2023 Chief Lending Officer 93750 0 100131 0 2939 0 0 0 0 0 196820 0 0 0 Part I, Line 1a Board policy allows the payment of travel expenses for a spouse or companion that accompanies a board member on official business trips and travel to attend educational seminars and credit union conferences. These educational seminars and conferences are mandated by the credit union's regulatory agency. The cost for attendance and travel is included to the recipient on IRS Form 1099-M each year. The credit union provides reimbursement for expenses associated with supplemental life insurance contracts for the CEO and Executive Vice President on a gross-up basis. Part I, Line 1b The credit union follows written board policies and standard operating procedures regarding the payment/reimbursement of travel expenses. Part I, Line 4b The CEO and EVP participate in a supplemental executive retirement plan. Payments were made in 2023 in the amount of $972,222 and $700 thousand, respectively. Joe Rossa Employee Mortgage X 174999 3453 0 0 1 Joe Rossa Employee Credit Card X 12000 77 0 0 1 Robert Sanger Employee Credit Card X 25000 127 0 0 1 Keith Spivey Employee HELOC X 100000 989 0 0 1 Keith Spivey Employee Credit Card X 15625 698 0 0 1 Keith Spivey Employee Credit Card X 5200 236 0 0 1 Lonnie Nicholson Employee Credit Card X 40000 236 0 0 1 Tim Grove Employee Auto Loan X 16466 14802 0 0 1 Joe Bean Director Credit Card X 25000 8695 0 0 1 Mauro Serrano Director Unsecured X 30000 3566 0 0 1 George Thompson Director Credit Card X 6250 147 0 0 1 Ben Davis Director Credit Card X 12875 10 0 0 1 Frank Molinar Director Mortgage X 243000 132020 0 0 1 165056 Form 990, Part VI, Section A, line 6 Members in the credit union are owners and entitled to vote and elect representation on the Board of Directors at the annual membership meeting. Individuals who qualify for membership may become members by opening an account based upon the minimum membership requirement. Form 990, Part VI, Section A, line 7a Members elect a Board of Directors from amongst their numbers. Members vote at the annual meeting to fill seats for those Board members whose terms have expired. Form 990, Part VI, Section A, line 7b The members approve changes in the credit union's Bylaws. Other decisions such as a vote to merge the credit union must be approved by the membership. The members approve the prior annual meeting minutes at each annual meeting. Form 990, Part VI, Section B, line 11b A copy of the Form 990 was approved by the Board of Directors before filing. The Form 990 was prepared by the credit union's Chief Financial Officer and reviewed by the Chief Executive Officer before presentation for approval by the Board of Directors. Form 990, Part VI, Section B, line 12c The Board members have a conflict of interest policy and annually must attest to their review and agreement with the requirements of the statements. Form 990, Part VI, Section B, line 15 Compensation of the CEO and officers is reviewed annually by outside, third party human resource consultants who compare position compensation levels to prevalent industry practices and trends. Salary ranges are recommended base upon the asset size and complexity of the organization. This analysis is used for the CEO and senior management staff on an annual basis. The analyses and recommendations are presented to the compensation committee for approval. Meetings of the Board of Directors and committees are documented in writing and presented to the governing body for approval each month. Form 990, Part VI, Section C, line 18 The credit union's Form 990 and Form 990-T as applicable are available for review upon request by the members in EECU's corporate office. The credit union's annual report is provided to members at the annual meeting and is available on the credit union's website. It may also be obtained upon request. The credit union's monthly financial statements are posted in the lobby of each branch. Form 990, Part VI, Section C, line 19 The credit union's governing documents including the laws, rules, bylaws, financial statements, and board policies are available for review upon request by the members in EECU's corporate office. The credit union's annual report is provided to members at the annual meeting and is available on the credit union's website. It may also be obtained upon request. The credit union's monthly financial statements are posted in the lobby of each branch. The audited financial statements are published in the annual report and provided to those members in attendance at the annual meeting. Form 990, Part XI, line 9: Asset Growth XXX-XX-XXXX. PART XII LINE 2C The credit union has an audit committee that assumes responsibility for oversight of the audit of the financial statements and selection of the independent accountant. North Texas Financial Services 1617 West 7th Street Fort Worth TX 76102 200390546 Insurance TX 714303 743218 EECU