2024-11-13T13:42:26-07:00 2023-12-31 990 2023-01-01 616026508 GREATER KENTUCKY CREDIT UNION INC GREA 8592319300 1001 Red Mile Road Lexington KY 40504 Michael Little CEO & President 8596855630 2024-11-11 1 2023 2024-10-15 13:58:12Z Michael Little 1001 Red Mile Road Lexington KY 40504 6324313 0 X https://www.gtkycu.com/ X 1953 KY We are a tax exempt credit union providing share and loan services to members. 5 5 31 8 0 0 0 0 4254948 4215670 291227 786071 554710 1322572 5100885 6324313 0 0 0 0 1765779 1806582 0 0 0 2811748 3987445 4577527 5794027 523358 530286 95065792 94799663 85389259 84919842 9676533 9879821 We are a tax exempt credit union providing share and loan services to members. 0 0 1368355 5001742 We are a co-op financial institution that promotes thrift and good use of credit. We paid $1,368,355 in Dividends and collected $5,001,742 in Interest Income, Investment Income and Fees. 271599 Credit Union has branches that are necessary to operate and conduct business. 595643 Provision for Loan and Lease Loss 3558429 All other Operating expenses 3558429 0 0 5794026 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 10 0 1 31 1 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 0 1 1 0 KY X Michael Little 8592319300 1001 Red Mile Road Lexington KY 40504 Debbie Pyle Exec Director/CEO 40 0 X 239954 0 25482 Michael Little CFO/Controller 40 0 X 110704 0 7640 Julie Logan Vice President 40 0 X 97200 0 13560 Devon Adams Vice President 40 0 X 87889 0 5806 Ken Hadley Chairman 2 0 X 0 0 0 Bill Spears Board Member 2 0 X 0 0 0 Karl Stoerzer Secretary 2 0 X 0 0 0 Christina Stewart Treasurer 2 0 X 0 0 0 Gary Walker Vice Chairman 2 0 X 0 0 0 535747 0 52488 2 0 1 0 0 0 Fee Income 522130 622532 622532 0 0 Investments on Loans 522130 3593138 3593138 0 0 0 0 0 0 4215670 786071 786071 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1322572 1322572 0 0 1322572 6324313 6324313 0 0 X 535748 0 846324 127183 186908 110419 7988 13498 1288944 23612 68842 7924 200593 16683 1423856 68600 42044 Provision for Loan and Lease Loss 595643 Equipment Rental and Mant 17682 Printing and Publishing 19328 Share Draft & Visa Expense 133327 58881 5794027 0 0 0 567995 672093 11149351 17592752 0 0 189945 352537 388491 322937 0 78311756 71600859 0 0 879919 630741 3436164 2655866 792356 780298 2785979 2847446 95065792 94799663 3586980 3624699 81802279 81295143 85389259 84919842 X 0 0 4047985 0 5628548 9879821 9676533 9879821 95065792 94799663 530286 0 0 0 -326998 0 X 0 1 X 1 0 0 177551 177551 0 1817877 1298104 519773 0 383600 382220 1380 0 1057136 975542 81594 0 0 0 0 780298 Savings Accounts 15795250 Checking Accounts 11535414 Certificates of Deposit 38632276 IRA Accounts 7514749 Money Market Checking 826007 Money Market Savings Account 6991447 81295143 6324313 0 0 0 0 0 6324313 0 0 0 6324313 5794027 0 0 0 0 0 5794027 0 0 0 5794027 X 1 1 X 0 0 0 Debbie Pyle Exec Director/CEO 202157 0 0 0 3600 0 34197 0 25482 0 265436 0 0 0 Michael Little CFO/Controller 110704 0 0 0 0 0 0 0 7640 0 118344 0 0 0 Schedule J, Part I, Line 1a Deferred compensation plan for executive retention. Gary Walker Vice Chairman Mortgage X 135000 108890 0 1 1 Karl Stoerzer Secretary Share Secured X 14219 14219 0 1 1 Ken Hadley Chairman Mortgage X 60000 5752 0 1 1 William Spears Board Member Mortgage X 198600 194076 0 1 1 322937 Form 990, Part VI, Section A, Line 6 All Members are required to keep at least $10 in a share account to maintain their membership. The credit union is fully owned by its members. Form 990, Part VI, Section A, Line 7a All members have the right to vote for our board of directors at our annual meeting. Form 990, Part VI, Section A, Line 7b Major capital expenditures and strategic capital investments are subject to approval by the board of directors. Form 990, Part VI, Section B, Line 11b The 990 will be presented to the Asset-Liability Committee (ALCO) and the Board of Directors in the same month as the return is submitted. Form 990, Part VI, Section B, Line 12c All employees are required to sign a copy of our conflict policy at the time of hire and annually, thereafter. Annually, board members and senior staff are given a reminder of the policy and are told to whom they should report any conflict. Our Vice President of HR and Employee Development monitors and tracks all potential conflicts and reports them. All third party vendors must submit relevant financial documents. In addition, we are given a list of their key personnel to look for any potential conflicts. Form 990, Part VI, Section B, Line 15 Using the information from the CEO's performance review and compensation comparisons, the personnel committee determines the CEO's new salary. The process is done annually, in June. The CEO performs evaluations of the Executive Vice Presidents using the information from the performance reviews and data collected by the Credit Union National Association (CUNA) that shows comparable compensation ranges for credit unions of similar size. The CEO recommends the new salary amounts for each of the above positions. In July, the personnel committee reviews and approves the salaries. Form 990, Part VI, Section C, Line 19 The Credit Union makes all governing documents and the conflict of interest policy available to the public upon request. The financial statements are posted monthly in the lobby at each location. Form 990, Part IX, Line 11g Collection expense, loan expense, data processor, mailing service, etc. The credit union filed an extension, with the extended deadline being November 15, 2024, which it will be filed before then. The credit union has been short staffed since before the original due date so we made the decision to extend it until November 15, 2024.