2024-05-15T13:40:55-07:00 2023-12-31 990 2023-01-01 560172675 STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA STAT 8286481515 3 Academy Street Canton NC 28716 Brittainy Crawford Chief Financial Officer 8286481515 2024-05-15 Brittainy Crawford 999009999 1 1 11 0 AAL2 2023 2023-04-26 12:10:37Z CHAMPION CREDIT UNION Timothy Jake Robinson 3 Academy Street Canton NC 28716 28858984 0 X www.championcu.com X 1932 NC State chartered credit union providing financial services to our 36,051 members. 9 9 137 11 0 0 0 0 21314879 28858984 0 0 0 0 21314879 28858984 0 0 1088127 3534766 7546958 8483601 0 0 0 7618221 11586119 16253306 23604486 5061573 5254498 447675001 557154718 402933252 499994513 44741749 57160205 State chartered credit union mutually owned by our 36,051 members to promote deposits, issue shares and maintain accounts, and make loans to our members. Funds not needed for liquidity or for loans are temporarily invested. 0 0 23604483 0 28858980 State chartered credit union mutually owned by our 36,051 members to promote deposits, issue shares and maintain accounts, and make loans to our members. Funds not needed for liquidity or for loans are temporarily invested. 0 0 0 23604483 0 0 0 0 0 0 0 1 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 0 0 0 1 8492 0 137 1 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 1 1 0 1 1 1 1 1 1 1 0 NC X Timothy Jake Robinson 8286481515 3 Academy Street Canton NC 28716 Timothy Robinson President/CEO 40 0 X 429698 0 54744 Brittainy Crawford CFO 40 0 X 224108 0 51103 Marcus Trull Director of Operations 40 0 X 131996 0 32908 Barbara Pinter Director of Lending 40 0 X 125915 0 32982 Melanie Mooney Director of HR 40 0 X 117529 0 22336 Christopher Wells Mortgage Sales Manager 40 0 X 114062 0 20413 Misty Rice Mortgage Loan Officer 40 0 X 117000 0 4832 Bryan Trantham Chairperson 1 0 X 0 0 0 Mike Arnott Vice Chairperson 1 0 X 0 0 0 Andrew Francis Treasurer 1 0 X 0 0 0 Stephany Semones Secretary 1 0 X 0 0 0 Greg Boothroyd Board Member 1 0 X 0 0 0 Ron Mills Board Member 1 0 X 0 0 0 Howard Taylor Board Member 1 0 X 0 0 0 Dean Pressley Board Member 1 0 X 0 0 0 Gary Hollifield Board Member 1 0 X 0 0 0 Jenifer Wood Board Member 1 0 X 0 0 0 1260308 0 219318 9 0 1 0 Boyd L Hyder 6 Ivywood Road Weaverville NC 28787 Leased Facilities 137284 The Van Winkle Law Firm PO Box 7376 Asheville NC 28802 Legal Services 105898 2 0 Interest on Loans to Members 522130 20782171 20782171 0 0 Investment Income 522130 2078043 2078043 0 0 Fee Income 522130 3912928 3912928 0 0 Other Operating Income 522130 2085842 2085842 0 0 0 0 0 0 28858984 0 0 0 0 0 28858984 28858984 0 0 0 0 0 3534766 730560 0 5774244 341078 1171442 466277 0 93599 88278 0 0 0 0 862494 827592 1204029 0 866409 63534 0 38006 2294310 0 869421 43811 Loan Servicing 1765875 Provision for Credit Losses 1633336 Office Operations 270343 Operating Fees 85371 579711 23604486 0 0 0 4973728 5448423 33169706 47632721 0 0 0 0 0 0 0 0 390514124 436750052 0 0 917701 1239409 22689985 6224352 12910643 16465633 0 38118837 0 0 2406002 3823770 0 3573981 2783097 4101892 447675001 557154718 6063157 7800562 0 0 0 0 0 0 608842 541384 0 0 30000000 45000000 0 0 366261253 446652567 402933252 499994513 X 0 0 0 0 44741749 57160205 44741749 57160205 447675001 557154718 X 5254498 329360 0 0 -642719 7477317 X 0 1 X 1 0 0 1 X 0 2741426 2741426 0 12120510 1953899 10166611 0 2876794 1023629 1853165 0 4951255 3246824 1704431 0 0 0 0 16465633 0 Member Deposits 446652567 446652567 X Schedule D, Part IV, Line 2b The credit union maintains escrow accounts on members' first mortgage loans as a service to the members. These accounts are funded on a monthly basis by the members. The proceeds are used to pay the property taxes and insurance on the real estate property securing the first mortgage. Schedule D, Part X, Line 2 The Credit Union is exempt from most federal, state, and local income taxes under the provisions of the Internal Revenue Code (IRC) and state tax laws. However, IRC Section 511 imposes a tax on unrelated business income derived by state-chartered credit unions. Generally, these taxes are insignificant to the Credit Union. X X X 0 0 0 Timothy Robinson President/CEO 246123 0 173960 0 9615 0 0 0 54744 0 484442 0 0 0 Brittainy Crawford CFO 169652 0 47918 0 6538 0 0 0 51103 0 275211 0 0 0 Marcus Trull Director of Operations 113972 0 16808 0 1216 0 0 0 32908 0 164904 0 0 0 Barbara Pinter Director of Lending 108480 0 16589 0 846 0 0 0 32982 0 158897 0 0 0 Form 990, Part VI, Section A, Line 6 The credit union's bylaws call for an annual election of directors by the members. Each member is entitled to one vote irrespective of the number of shares/deposits at the credit union. Form 990, Part VI, Section A, Line 7a The credit union's bylaws call for an annual election of directors by the members. Each member is entitled to one vote irrespective of the number of shares/deposits at the credit union. The candidates for director are nominated by a nominating committee appointed by the Board of Directors. The directors are elected by ballot election and results are reported at an annual meeting called for in the bylaws. Form 990, Part VI, Section B, Line 11b The Form 990 was completed and reviewed by management. The Form 990 is made available to board members after filing, upon request. Form 990, Part VI, Section B, Line 12c The conflict of interest policy is included in the Employee HR Handbook. All employees are required to review the handbook on an annual basis. The Board of Directors oversee the policies included in the Employee HR Handbook. In addition, board members sign a Code of Ethics and Conduct Statement which addresses conflicts of interest. Form 990, Part VI, Section B, Line 15 The Board of Directors approve compensation for the President/CEO annually based on a compensation survey of credit unions of comparable size and job classifications, job performance, and other factors. Compensation for top management (other than the President/CEO) is approved by the President/CEO based on a compensation survey of credit unions of comparable size and job classifications, employee performance evaluations, and other factors. The overall compensation plan for the credit union, including the compensation for the President/CEO and management, is reviewed and approved by the Board of Directors annually. Form 990, Part VI, Section C, Line 19 Written copies of policies and procedures are provided to members upon request with the approval of the Board of Directors. Monthly financial statements are posted in the credit union branch lobbies for members to review. The annual report for the credit union is provided to all members at the annual meeting. Form 990, Part XI, Line 9 On November 1, 2023, 100 percent of the assets and liabilities of Ecusta Credit Union were merged with Champion Credit Union. The fair value of equity acquired as part of the business combination was $7,477,317.