2024-11-15T11:00:42-06:00 2023-12-31 620428728 REYNOLDS BONE & GRIESBECK PLC 5100 WHEELIS DRIVE SUITE 300 MEMPHIS TN 381174568 990 2023-01-01 620630690 MEMPHIS CITY EMPLOYEES CREDIT UNION MEMP 9013211200 2678 MT MORIAH TERRACE COVE MEMPHIS TN 38115 NATHAN STEVENS CHIEF FINANCIAL OFFICER 9013211200 2024-11-15 1 0 KELLY S CROW P01519168 9016822431 2024-11-15 2023 2024-10-15 13:58:12Z NATHAN STEVENS 2678 MT MORIAH TERRACE COVE MEMPHIS TN 38115 26111899 0 X WWW.MEMPHISCU.ORG X 1969 TN SEE SCHEDULE O 9 9 118 9 83896 0 0 0 22435903 24075550 1253296 2010560 0 0 23689199 26086110 0 0 0 0 8696884 9619035 0 0 0 12123421 14387769 20820305 24006804 2868894 2079306 442390600 443259152 391863867 385230380 50526733 58028772 X SEE SCHEDULE O 0 0 STATE CHARTERED CREDIT UNION CREATED TO PROVIDE THE HIGHEST QUALITY OF PERSONAL FINANCIAL SERVICES IN A FRIENDLY, PROFESSIONAL MANNER; TO ENCOURAGE SAVINGS AND THE WISE USE OF CREDIT; TO INCREASE THE KNOWLEDGE AND ABILITY OF OUR MEMBERS TO MANAGE AND CONTROL THEIR FINANCES. 0 0 0 0 0 0 0 0 0 1 1 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 0 0 0 1 2 0 1 118 1 1 1 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X NATHAN STEVENS 9013281149 2678 MT MORIAH TERRACE COVE MEMPHIS TN 38115 JAMES VAN STURDIVANT CHAIR 1.00 X 0 0 0 BARBARA FARMER FIRST VICE CHAIR 1.00 X 0 0 0 HETTIEANN SPENDLOVE SECOND VICE CHAIR 1.00 X 0 0 0 JORGE WHITTEN ORTEGA SECRETARY 1.00 X 0 0 0 DELPHONE HUBBARD TREASURER 1.00 X 0 0 0 TERRI BROWN DIRECTOR 1.00 X 0 0 0 WANDA J CORCORAN DIRECTOR 1.00 X 0 0 0 J HARVEY HERRING DIRECTOR 1.00 X 0 0 0 DARRYL PORTER DIRECTOR 1.00 X 0 0 0 KENNETH SWANN PRESIDENT/CEO 40.00 X 677998 0 6685 NATHAN STEVENS CHIEF FINANCIAL OFFICER 40.00 X 274394 0 7087 ALLEN PETERSON CHIEF OPERATING OFFICER 40.00 X 259071 0 6760 DONNA BROWN CHIEF LENDING OFFICER 40.00 X 167018 0 3705 LETISHA SIMMONS CHIEF RISK OFFICER 40.00 X 165943 0 3160 THOMAS MOATES CHIEF INFORMATION OFFICER 40.00 X 163832 0 5071 RALPH GABB CONTROLLER 40.00 X 131398 0 3935 AUDREY PINNER VP OF MORTGAGE 40.00 X 127229 0 1365 1966883 0 37768 12 0 1 0 0 LOAN INTEREST 523000 13563557 13563557 FEE INCOME 525990 5360228 5360228 OTHER OPERATING INCOME 525990 5067869 5067869 NON-MEMBER ATM FEES 525990 76846 76846 NON-MEMBER CHECK CASHING 525990 7050 7050 24075550 1986081 1986081 50268 25789 24479 24479 24479 26086110 26002214 83896 0 X 1231994 5413135 2541101 432805 469905 5406159 849100 699603 173546 2687447 294053 52842 PROVISION FOR LOAN LOSS 2194000 EDUCATIONAL & PROMOTION 566274 OTHER EXPENSES 440612 LOAN SERVICING 216826 337402 24006804 3486146 3699851 33342321 37971874 260585941 256480234 737159 644115 9854233 6751004 3044118 3103229 121712222 121777272 19482693 19582577 442390600 443259152 5049119 8597244 386814748 376633136 391863867 385230380 X 15000000 15000000 0 0 35526733 43028772 50526733 58028772 442390600 443259152 X 2079306 3489070 1933663 X 0 0 0 785436 785436 4731003 2661204 2069799 4337794 4089800 247994 3103229 U.S. FEDERAL AGENCY SECURITIES - AVAILABLE FOR SALE 107414031 F VOL CORP CREDIT UNION STOCK 1252198 C FHLB STOCK 387000 C PSCU FINANCIAL SERVICES - REDEMPTION CERTIFICATES 1668866 C NET DEFINED BENEFIT PENSION PLAN 11055177 F 121777272 MEMBER DEPOSITS 375306524 DEFERRED COMPENSATION 1326612 376633136 X X 0 1 0 KENNETH SWANN PRESIDENT/CEO 481733 0 132840 0 63425 0 0 0 6685 0 684683 0 0 0 NATHAN STEVENS CHIEF FINANCIAL OFFICER 178308 0 79546 0 16540 0 0 0 7087 0 281481 0 0 0 ALLEN PETERSON CHIEF OPERATING OFFICER 186308 0 57000 0 15763 0 0 0 6760 0 265831 0 0 0 DONNA BROWN CHIEF LENDING OFFICER 127692 0 39000 0 326 0 0 0 3705 0 170723 0 0 0 LETISHA SIMMONS CHIEF RISK OFFICER 126943 0 39000 0 0 0 0 0 3160 0 169103 0 0 0 THOMAS MOATES CHIEF INFORMATION OFFICER 124832 0 39000 0 0 0 0 0 5071 0 168903 0 0 0 FORM 990, SCHEDULE J, LINE 4B KENNETH SWANN, PRESIDENT/CEO, AND ALLEN PETERSON, COO, WERE PARTICIPANTS IN THE CREDIT UNION'S EXECUTIVE DEFINED BENEFIT PLAN AND THE CREDIT UNION'S SPLIT-DOLLAR LIFE INSURANCE PLAN. NO PAYMENTS TO EITHER PARTICIPANT OR THEIR FAMILIES WERE MADE DURING THE YEAR. FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: STATE CHARTERED CREDIT UNION CREATED TO PROVIDE THE HIGHEST QUALITY OF PERSONAL FINANCIAL SERVICES IN A FRIENDLY, PROFESSIONAL MANNER; TO ENCOURAGE SAVINGS AND THE WISE USE OF CREDIT; TO INCREASE THE KNOWLEDGE AND ABILITY OF OUR MEMBERS TO MANAGE AND CONTROL THEIR FINANCES. FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: THE CREDIT UNION PROVIDES VARIOUS FINANCIAL SERVICES TO ITS MEMBERS, MOST OF WHOM ARE EMPLOYEES OF THE CITY OF MEMPHIS, CITY OF BARTLETT, MLGW, COMMERCIAL APPEAL, SCRIPPS MEDIA COMAPNY, WMC FAMILY OF STATIONS, MEMPHIS BUSINESS JOURNAL, RONALD BARKER CONSTRUCTION COMPANY, COLLIERVILLE AUTO CENTER AND THE MEMPHIS AND SHELBY COUNTY LIBRARY, AND THE EMPLOYEES' FAMILIES. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS A MEMBER-OWNED COOPERATIVE THAT IS OWNED, MANAGED AND UTILIZED BY ITS MEMBER-OWNERS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS ELECT THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B SOME GOVERNANCE DECISIONS ARE RESERVED FOR THE MEMBERS TO VOTE BUT MOST GOVERNANCE DECISIONS ARE MADE BY THE BOARD OF DIRECTORS, WHO ARE ELECTED BY THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS AVAILABLE FOR REVIEW BY THE BOARD OF DIRECTORS UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS IS RESPONSIBLE FOR MONITORING AND ENFORCING THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF OFFICERS AND HIGHEST COMPENSATED EMPLOYEES IS DETERMINED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST FORM 990, PART IX, LINE 11G PROFESSIONAL & OUTSIDE SERVICES 5,406,159. FORM 990, PART XI, LINE 9: OCI ADJUSTMENT RELATED TO PENSION PLAN 1,933,663. SUPPLEMENTAL INFORMATION: TAX YEAR VS. ACCOUNTING YEAR THE TAXPAYER FILES ITS TAX RETURNS BASED ON A TAX YEAR ENDING DECEMBER 31. THE TAXPAYER DOES RECEIVE A GAAP AUDIT OF ITS FINANCIAL STATEMENTS BUT THE AUDIT IS BASED ON A JUNE 30 ACCOUNTING YEAR. ALL REQUIRED GAAP DISCLOSURES ARE MADE IN ITS AUDITED FINANCIAL STATEMENTS. THE TAXPAYER BASES ITS TAX RETURN ON ITS NCUA CERTIFIED DECEMBER 31 CALL REPORT.