2024-08-05T15:44:16-05:00 2023-12-31 721396621 CARR RIGGS & INGRAM LLC 3011 ARMORY DRIVE SUITE 300 NASHVILLE TN 37204 990 2023-01-01 620382058 SOUTHEAST FINANCIAL CREDIT UNION C/O ADAM TOUNGETTE SOUT 6157433700 220 SOUTH ROYAL OAKS BLVD FRANKLIN TN 37064 ADAM TOUNGETTE CONTROLLER 6157433700 2024-07-22 1 0 JOHN V RAYBURN P00429464 6156651811 2024-07-16 2023 2024-08-08 14:25:15Z ADAM TOUNGETTE 220 SOUTH ROYAL OAKS BLVD FRANKLIN TN 37064 29524701 0 1182 X WWW.SOUTHEASTFINANCIAL.ORG X 1936 TN PROVIDE FINANCIAL SERVICES FOR APPROXIMATELY 39,823 MEMBERS IN THE FORM OF LOANS, SAVINGS ACCOUNTS, SHARE CERTIFICATES AND OTHER FINANCIAL SERVICES. 7 7 169 11 0 0 0 0 17712395 22256999 1156518 1321503 6019659 5682315 24888572 29260817 0 0 0 0 11635660 12055203 0 0 0 11851681 16277356 23487341 28332559 1401231 928258 454815364 474047510 421475021 439397457 33340343 34650053 X PROVIDE FINANCIAL SERVICES FOR APPROXIMATELY 39,823 MEMBERS IN THE FORM OF LOANS, SAVINGS ACCOUNTS, SHARE CERTIFICATES AND OTHER FINANCIAL SERVICES. 0 0 PROVIDE FINANCIAL SERVICES FOR APPROXIMATELY 39,823 MEMBERS IN THE FORM OF LOANS, SHARE ACCOUNTS, SHARE CERTIFICATES AND OTHER FINANCIAL SERVICES.SERVICES INCLUDE ATM/DEBIT CARD PROGRAM, INTERNATIONAL REMITTANCES, NO SURCHARGE ATM'S, BUSINESS SHARE ACCOUNTS, HEALTH SAVINGS ACCOUNTS, NO COST SHARE DRAFTS, SHARE CERTIFICATES WITH LOW MINIMUM BALANCE REQUIREMENTS, INSURANCE/INVESTMENT SALES, STUDENT SCHOLARSHIPS, BUSINESS LOANS, CREDIT BUILDER, INDIRECT CONSUMER LENDING, INTEREST ONLY OR PAYMENT OPTION 1ST MORTGAGE LOANS, OVERDRAFT LINES OF CREDIT, OVERDRAFT/PROTECTION/COURTESY PAY, PARTICIPATION LOANS, REAL ESTATE LOANS, RISK BASED LOANS, SHARE SECURED CREDIT CARDS, FINANCIAL EDUCATION, FINANCIAL COUNSELING, FIRST TIME HOMEBUYER PROGRAM. 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 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 5516 0 1 169 1 1 1 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 X ADAM TOUNGETTE 6157433700 220 SOUTH ROYAL OAKS BLVD FRANKLIN TN 37064 CLEO DUCKWORTH CHAIR, BOARD MEMBER 1.00 X 0 0 0 BEVERLY A HICKS BOARD MEMBER 1.00 X 0 0 0 KELSIE JONES BOARD MEMBER 1.00 X 0 0 0 SCARLET SNEED BOARD MEMBER 1.00 X 0 0 0 BILLY HATMAKER BOARD MEMBER 1.00 X 0 0 0 WALTER COSTNER BOARD MEMBER 1.00 X 0 0 0 TROY CRAWFORD BOARD MEMBER 1.00 X 0 0 0 ROBERT HALE AUDIT COMMITTEE 1.00 X 0 0 0 JILL ARNOLD CREDIT APPEALS COMMITTEE 1.00 X 0 0 0 VINCE MALONE AUDIT COMMITTEE 1.00 X 0 0 0 JEFF DAHLSTROM PRESIDENT 40.00 X 591329 0 33685 JOHN JACOWAY CEO 40.00 X 604624 0 28601 KELLY KEENAN COO 40.00 X 205046 0 20894 RONNIE MILLER CAO 40.00 X 177466 0 23720 DAVID KELLEY CLO 40.00 X 191087 0 19358 KENDRICK COULTHARD PRESIDENT OF MFS 40.00 X 211404 0 33309 LEIGH GLOVER MFS REP 40.00 X 183660 0 19337 SUSAN HAMILTON VP, COMPLIANCE AND TRAININ 40.00 X 131902 0 21526 LELAH HILL VP, HUMAN RESOURCES 40.00 X 173014 0 18308 DAVID HARLAN MFS REP 40.00 X 138797 0 17290 2608329 0 236028 10 0 1 0 TRADER INTERACTIVE PO BOX 842032 DALLAS TX 75284 ADVERTISING 317044 NETWORK INNOVATIONS LLC PO BOX 735235 CHICAGO IL 60603 NETWORK TECHNOLOGY 243050 CARR RIGGS & INGRAM LLC 3011 ARMORY DRIVE STE 300 NASHVILLE TN 37204 ACCOUNTING 110100 3 CONSUMER LOANS 900099 14362392 14362392 RESIDENTIAL RE LOANS 900099 4051972 4051972 COMM/AG RE LOANS 900099 2621393 2621393 OTHER LOANS 900099 1219876 1219876 CONSTRUCTION LOANS 900099 1366 1366 22256999 1585387 1585387 19800 0 19800 19800 19800 263884 -263884 -263884 -263884 OTHER INCOME 522200 4020705 4020705 FEE INCOME 522200 1641810 1641810 5662515 29260817 29260817 0 0 X 1895810 8093584 57347 1331712 676750 98207 118264 89763 979251 127125 1499965 60292 4270522 360854 PROVISION FOR LOAN LOSS 2406628 CORE PROCESSING EXPENSE 853984 OTHER EXPENSES-PROGSERV 786424 ONLINE BANKING EXPENSE 487436 4138641 28332559 2600665 2572583 31078451 34863359 395893 465608 376397468 393149371 696494 766008 29801044 16417296 12239315 13383748 70343 35449 20057696 16471343 11279039 12340041 454815364 474047510 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RESOURCES 166482 0 6700 0 -168 0 7954 0 10354 0 191322 0 0 0 DAVID HARLAN MFS REP 56403 0 82623 0 -229 0 7072 0 10218 0 156087 0 0 0 SUSAN HAMILTON VP, COMPLIANCE AND TRAININ 128488 0 700 0 2714 0 5724 0 15802 0 153428 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS OWNED BY ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE SECRETARY NOTIFIES IN WRITING ALL MEMBERS ELIGIBLE TO VOTE AT LEAST 75 DAYS PRIOR TO THE ANNUAL MEETING THAT NOMINATIONS FOR VACANCIES WILL BE CONDUCTED BY BALLOT. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION VOTE ON THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS REVIEWED IN DETAIL BY MANAGEMENT BEFORE IT WAS FILED. FORM 990, PART VI, SECTION B, LINE 12C ALL OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE REQUIRED ANNUALLY TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST. ANY CHANGES THAT OCCUR DURING THE YEAR ARE TO BE REPORTED IMMEDIATELY. FORM 990, PART VI, SECTION B, LINE 15A THE CREDIT UNION'S PRESIDENT AND CEO HAVE THEIR COMPENSATOIN DETERMINED BY A COMPENSATION COMMITTEE MADE UP OF MEMBERS OF THE BOARD OF DIRECTORS. THEY REVIEW COMPENSATION STUDIES CONSISTING OF COMPARABILITY DATA FOR INSTITUTIONS OF THIS SIZE. THEY ALSO CONSULT INDEPENDENT COMPENSATION CONSULTANTS FROM TIME TO TIME AS PART OF THE PROCESS. ALL DELIBERATIONS AND DECISIONS ARE DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 NO FORMS ARE MADE AVAILABLE TO THE PUBLIC FORM 990, PART IX, LINE 24E DEBIT CARD EXPENSE 463,868. LOAN SERVICING EXPENSE 442,433. CLOUD SOFTWARE EXPENSE 354,323. CREDIT CARD PROGRAM EXPENSE 312,210. PLATINUM CARD EXPENSE 248,604. COMPUTER NETWORK EXPENSE 247,119. STATEMENT PROCESSING FEES 235,700. BOND PREMIUM 211,159. MERIDIAN LINK EXPENSE 206,385. ARMORED CAR AND COURIER 130,121. BUSINESS LOAN EXPENSE 120,254. MORTGAGE SERVICING EXPENSE 115,779. POSTAGE 113,481. CREDIT REPORTS 111,537. EXAM FEES 105,140. COMPUTER FEES 104,585. ALARM AND SECURITY EXPENSE 89,397. DOCUSIGN EXPENSE 86,888. BANK SERVICE CHARGES 79,979. MASTERCARD EXPENSE 76,825. OTHER OPERATING EXPENSE 71,653. MISC. TAX 66,918. MEMBER ACCOUNT FRAUD 55,170. OTHER MISC EXP 46,679. SMALL EQUIPMENT PURCHASES 39,440. BUSINESS DEVELOPMENT-TRAVEL/MEALS 1,496. BUSINESS DEVELOPMENT-EVENTS 564. COMMUNITY DEVELOPMENT-EVENTS 456. BRANCH OPERATIONS MAINTENANCE 387. MARKETING OTHER-MISCELLANEOUS 78. BUSINESS DEVELOPMENT-OTHER 13. FORM 990, PART XI, LINE 9: POST EMPLOYMENT BENEFIT ADJUSTMENT 502,482. FAS 106 ADJUSTMENT -11,032. ONE-TIME ADJUSTMENT FOR CECL (AS DETERMINED UNDER 702.703(B)) -110,000. 990 PAGE 12 PART XII LINE 2 SOUTHEAST FINANCIAL CREDIT UNION HAS AN ANNUAL AUDIT CONDUCTED ON A FISCAL YEAR BASIS AT JUNE 30. SINCE THE FORM 990 IS FILED ON A CALENDAR YEAR BASIS QUESTION 2B IS ANSWERED NO. A RECONCILIATION BETWEEN THE TWO PERIODS WOULD NOT YIELD ANY USEFUL INFORMATION FOR FEDERAL PURPOSES. 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