2024-11-13T13:49:14-06:00 2023-12-31 202122306 GBQ PARTNERS LLC 230 WEST STREET SUITE 700 COLUMBUS OH 43215 990 2023-01-01 340825325 SEVEN SEVENTEEN CREDIT UNION INC SEVE 3303728100 3181 LARCHMONT AVE NE WARREN OH 44483 SHELLY PAWCIO SENIOR VP & CFO 3303728100 2024-11-12 1 1 KATHY M MOSELEY P00116760 6142211120 2024-11-12 2023 2024-10-15 13:58:12Z SHELLY PAWCIO 3181 LARCHMONT AVE NE WARREN OH 44483 99536040 0 X WWW.717CU.COM X 1957 OH THE PURPOSE OF SEVEN SEVENTEEN CREDIT UNION IS TO PROMOTE THRIFT AMONG ITS MEMBERS; TO ESTABLISH ON A COOPERATIVE BASIS, FACILITIES FOR SAVINGS; TO PROVIDE CREDIT FOR PROVIDENT AND PRODUCTIVE PURPOSES; TO PROVIDE ASSISTANCE TO ITS MEMBERS IN BUDGETING, MONEY MANAGEMENT, THE EFFECTIVE USE OF THEIR ASSETS AND RESOURCES; AND TO ENGAGE IN ALL ACTIVITIES NECESSARY AND INCIDENTAL THERETO. 7 7 394 12 499466 0 0 0 75785644 95841543 2404546 3694497 0 0 78190190 99536040 0 0 0 0 34014472 35479385 0 0 0 28636408 50716819 62650880 86196204 15539310 13339836 1540611072 1634137185 1348058297 1426318456 192552775 207818729 SEE SCHEDULE O 0 0 DIVIDENDS AND INTEREST PAID TO APPROXIMATELY 112,000 MEMBERS ON THEIR SHARE ACCOUNTS, MONEY MARKET ACCOUNTS, AND CERTIFICATE OF DEPOSIT ACCOUNTS. EMPLOYEE LABOR AND BENEFIT COSTS INCURRED TO SUPPORT SAVINGS SERVICES, LOAN ORIGINATIONS, AND SERVICES THE LOAN PORTFOLIO FOR ITS MEMBERS. OFFICE EXPENSE AND DATA PROCESSING EXPENSE NECESSARY TO SUPPORT MEMBER ACCOUNT AND LOAN ACTIVITY BY PROVIDING MEMBERS ACCESS TO THEIR ACCOUNTS VIA HOME BANKING, ATM NETWORKS, AND IN PERSON AT THE CREDIT UNION OFFICES. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 28971 0 1 394 1 1 1 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X SHELLY PAWCIO 3303728100 3181 LARCHMONT AVE NE WARREN OH 44483 ARLENE MATHES ASSIST SECRETARY TREASURER 5.00 X 2646 0 0 JACK WILSTER VICE CHAIRMAN 5.00 X 2927 0 0 PAUL MARSHALL CHAIRMAN 5.00 X 2693 0 0 DENISE BOYES DIRECTOR 5.00 X 700 0 0 RAYMOND MANOFSKY 2ND VICE CHAIRMAN 5.00 X 0 0 0 CHERYL DIGIACOBBE SECRETARY TREASURER 5.00 X 465 0 0 MICHAEL ANNESS DIRECTOR 5.00 X 0 0 0 GARY SOUKENIK PRESIDENT & CEO (THRU 11/2023) 45.00 X 966512 0 80868 JOHN DEMMLER PRESIDENT & CEO 45.00 X 85302 0 0 SHELLY PAWCIO SENIOR VP & CFO 45.00 X 330636 0 72167 DAN HARP SENIOR VP, LENDING 45.00 X 350104 0 71731 ERIC LANHAM SENIOR VP, MARKETING 45.00 X 260377 0 61537 MARK MUNNO SENIOR VP, DELIVERY CHANNELS 45.00 X 277613 0 50822 BRIAN BOETTCHER SENIOR VP, INNOV & INFO TECH 45.00 X 333512 0 59383 SHELLEY ENGLEMAN SENIOR VP, RISK MANAGEMENT 45.00 X 245623 0 59452 RYAN HOUGH SENIOR VP, HUMAN RESOURCES 45.00 X 270396 0 62541 BRETT CARNAHAN VP COMMERCIAL LENDING MANAGER 45.00 X 172842 0 48203 KATHERINE DURIG VP OPERATIONS MANAGER 45.00 X 169645 0 34946 MARY ANN KING VP INFO TECH MANAGER 45.00 X 188865 0 50756 KAREN JORDAN VP ACCOUNTING/FINANCE MANAGER 45.00 X 170941 0 46941 JOSEPH DATCHUK COLLECTIONS & RECOVERY ATTY 45.00 X 207653 0 53734 ARRON FRANK LOAN ORIGINATOR 45.00 X 183564 0 50202 SHARI GRANGER VP IT OPERATIONS MANAGER 45.00 X 160387 0 33830 SUSAN ALIBERTI VP PYMT SOLUTIONS MANAGER 45.00 X 158114 0 44964 BRENDA BALOG VP COLLECTIONS MANAGER 45.00 X 154106 0 28442 4695623 0 910519 17 0 1 0 RELENTLESS RECOVERY 11811 SHAKER BLVD STE 204 1040 CLEVELAND OH 44120 AUTO RECOVERY SERVICES 162026 K BERRY CONSTRUCTION LLC 564 HOUSEL CRAFT RD BRISTOLVILLE OH 44402 CONTRACTOR/CONSTRUCTION LOANS 103968 PALMER & COMPANY PO BOX 15160 AUSTINTOWN OH 44515 LAWNCARE/SNOW PLOWING SERVICES 100127 3 INTEREST ON LOANS 522100 72931514 72931514 FEE INCOME 522100 22410563 22410563 NON-MEMBER FEES AND INCOME 522100 470908 470908 RENTAL 531120 28558 28558 95841543 3675084 3675084 19413 0 19413 19413 19413 99536040 95342077 499466 3694497 4531146 20465997 2607043 5999729 1875470 12180 3536 77207 29145 4844282 14676375 2685111 61097 39539 18172452 PROVISIONS FOR LOAN LOS 8540083 PROFESSIONAL FEES 1147397 LOAN SERVICING 428415 86196204 29004063 24420629 17975274 52537386 1272793510 1336474098 57081312 34226381 24790684 22854931 120877458 104854549 16715569 14570636 58454514 78424956 1540611072 1634137185 18741957 20394832 87000000 91500000 1242316340 1314423624 1348058297 1426318456 X 0 0 0 0 192552775 207818729 192552775 207818729 1540611072 1634137185 X 13339836 3463269 -1537151 X 0 1 X 1 0 3007338 3007338 22243412 13572576 8670836 12063471 7191859 4871612 19767091 13461946 6305145 22854931 SHARE ACCOUNTS 455106482 MONEY MARKET ACCOUNTS 283089944 SHARE DRAFT ACCOUNTS 251777146 SHARE CERTIFICATE ACCOUNTS 323997527 LEASE LIABILITIES 452525 1314423624 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY ON EXAMINATION BY TAX AUTHORITIES. MANAGEMENT HAS DETERMINED THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. X X 1 1 X X X X 0 1 0 GARY SOUKENIK PRESIDENT & CEO (THRU 11/2023) 705261 0 261251 0 0 0 58201 0 22667 0 1047380 0 0 0 DAN HARP SENIOR VP, LENDING 263854 0 86250 0 0 0 49500 0 22231 0 421835 0 0 0 SHELLY PAWCIO SENIOR VP & CFO 250993 0 79643 0 0 0 49500 0 22667 0 402803 0 0 0 BRIAN BOETTCHER SENIOR VP, INNOV & INFO TECH 252563 0 80949 0 0 0 49492 0 9891 0 392895 0 0 0 RYAN HOUGH SENIOR VP, HUMAN RESOURCES 206930 0 63466 0 0 0 39874 0 22667 0 332937 0 0 0 MARK MUNNO SENIOR VP, DELIVERY CHANNELS 215970 0 61643 0 0 0 41121 0 9701 0 328435 0 0 0 ERIC LANHAM SENIOR VP, MARKETING 202241 0 58136 0 0 0 38870 0 22667 0 321914 0 0 0 SHELLEY ENGLEMAN SENIOR VP, RISK MANAGEMENT 185872 0 59751 0 0 0 36785 0 22667 0 305075 0 0 0 JOSEPH DATCHUK COLLECTIONS & RECOVERY ATTY 172236 0 35417 0 0 0 31067 0 22667 0 261387 0 0 0 MARY ANN KING VP INFO TECH MANAGER 149940 0 38925 0 0 0 28089 0 22667 0 239621 0 0 0 ARRON FRANK LOAN ORIGINATOR 24003 0 159561 0 0 0 27535 0 22667 0 233766 0 0 0 BRETT CARNAHAN VP COMMERCIAL LENDING MANAGER 136339 0 36503 0 0 0 25536 0 22667 0 221045 0 0 0 KAREN JORDAN VP ACCOUNTING/FINANCE MANAGER 134935 0 36006 0 0 0 24274 0 22667 0 217882 0 0 0 KATHERINE DURIG VP OPERATIONS MANAGER 132844 0 36801 0 0 0 25055 0 9891 0 204591 0 0 0 SUSAN ALIBERTI VP PYMT SOLUTIONS MANAGER 124669 0 33445 0 0 0 22297 0 22667 0 203078 0 0 0 SHARI GRANGER VP IT OPERATIONS MANAGER 123836 0 36551 0 0 0 23939 0 9891 0 194217 0 0 0 BRENDA BALOG VP COLLECTIONS MANAGER 122673 0 31433 0 0 0 18305 0 10137 0 182548 0 0 0 PART III - OTHER ADDITIONAL INFORMATION MEMBERS OF SENIOR MANAGEMENT ARE PARTICIPANTS IN A BENEFIT PLAN REFERRED TO AS A "SERP". THE PLAN WAS ENTERED INTO IN 2016 AND IS BEING FUNDED VIA LIFE INSURANCE POLICIES AND SPLIT DOLLAR LOAN AGREEMENTS. FORM 990 - ADDITIONAL INFORMATION NOTE REGARDING DISCOUNTED EMPLOYEE LOANS: THERE IS A PROGRAM IN PLACE THAT WAS APPROVED BY THE BOARD OF DIRECTORS FOR LOANS BEING GIVEN AT DISCOUNTED RATES TO CREDIT UNION EMPLOYEES. THESE RATES ARE DISCOUNTED AT .50% INTEREST FOR CONSUMER AND HOME EQUITY LOANS AND .125% FOR FIRST MORTGAGE AND CONSTRUCTION LOANS. IF AN EMPLOYEE IS TERMINATED FROM EMPLOYMENT, THEN THE LOAN WILL REVERT TO THE NON-DISCOUNTED RATE. FORM 990, PART VI, SECTION A, LINE 6 CLASSES OF MEMBERS OR STOCKHOLDERS MEMBERSHIP IS OPEN TO ALL THOSE PERSONS WHO MEET THE ELIGIBILITY REQUIREMENTS, PROPERLY APPLIED FOR MEMBERSHIP, AND WHO ARE ELECTED TO MEMBERSHIP IN ANY MANNER AS SPECIFIED BY THE BOARD. ONCE BECOMING A MEMBER, MEMBERSHIP REMAINS IN EFFECT UNTIL SUCH TIME AS THE MEMBER DIES, RESIGNS, OR IS EXPELLED, UPON GOOD CAUSE AND NOTIFICATION BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A ELECTION OF MEMBERS AND THEIR RIGHTS THE ANNUAL MEETING OF THE MEMBERS FOR THE ELECTIONS OF THE DIRECTORS AND THE CONSIDERATION OF REPORTS IS HELD PRIOR TO JULY 1 OF EACH YEAR. A QUORUM OF THE MEMBERS, IN PERSON OR BY MAIL BALLOT IS USED FOR VOTING PURPOSES OF THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B ORGANIZATION'S PROCESS TO REVIEW FORM 990 A COPY OF THE FORM AND RELATED SCHEDULES ARE REVIEWED BY THE CEO AND CFO. IT IS ALSO REVIEWED BY THE BOARD OF DIRECTORS AT A REGULARLY SCHEDULED MEETING. FORM 990, PART VI, SECTION B, LINE 12C ENFORCEMENT OF CONFLICTS POLICY BOARD MEMBERS, OFFICERS, AND EMPLOYEES ARE REQUESTED TO DISCLOSE ANY AND ALL CONFLICTS OF INTEREST AS THEY AROSE. A MORE FORMAL MONITORING AND ENFORCEMENT POLICY IS PLANNED TO BE IMPLEMENTED IN THE FUTURE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION PROCESS FOR TOP OFFICIAL THE PROCESS USED TO SET THE CEO'S SALARY IS BASED ON A COMBINATION OF INDUSTRY DATA FROM THE "CUES" SALARY SURVEY, CUNA'S ANNUAL COMPENSATION SURVEY, AND AN INDEPENDENT CREDIT UNION COMPENSATION CONSULTANT. THE PROCESS IS PERFORMED ANNUALLY BY THE COMPENSATION COMMITTEE (A SUBCOMMITTEE OF THE BOARD OF DIRECTORS) AND PRESENTED TO THE FULL BOARD FOR APPROVAL. THE PROCESS OF ESTABLISHING AND APPROVING THE CEO'S SALARY IS DOCUMENTED IN THE BOARD MINUTES. COMPENSATION PROCESS FOR OFFICERS THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES IS BASED ON A COMBINATION OF INDUSTRY DATA AND DATA OBTAINED FROM AN INDEPENDENT COMPENSATION CONSULTANT AND IS APPROVED BY THE CEO ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS DISCLOSURE EXPLANATION THE CREDIT UNION'S ANNUAL REPORT AND ANNUAL FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC THROUGH POSTINGS ON THE CREDIT UNION'S WEBSITE AT WWW.717CU.COM. QUARTERLY FINANCIAL DATA IS ALSO AVAILABLE AT WWW.NCUA.GOV. MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY OF ALL BRANCHES OF THE CREDIT UNION. GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY MAY BE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CECL CUMULATIVE EFFECT ADJUSTMENT -4,396,332. EQUITY ACQUIRED IN MERGER 2,859,181. SOUND FINANCIAL SERVICES INC 3181 LARCHMONT AVE NE WARREN OH 44483 341481162 FINANCIAL OH C 21444 385749 1.00000 0 KD PROPERTIES INC 3181 LARCHMONT AVE NE WARREN OH 44483 341521043 FINANCIAL OH C 1000 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 SOUND FINANCIAL SERVICES INC O 2878 PAID