2025-05-27T06:55:11-05:00 2024-12-31 561706742 DAVIDSON HOLLAND WHITESELL & CO PLLC 209 13TH AVE PLACE NW SUITE 200 HICKORY NC 28601 990 2024-01-01 561515386 CS CREDIT UNION CSCR 8282416196 6519 COMM SCOPE ROAD CATAWBA NC 28609 DALE SHERRILL CHAIRPERSON 8282416196 2025-05-19 1 1 MATTHEW MCKINNEY P01707028 8283222070 2025-05-19 2024 2025-03-06 01:10:19Z DALE SHERRILL 6519 COMM SCOPE ROAD CATAWBA NC 28609 1578750 0 X CSNCCREDITUNION.ORG X MEMBER-OWNED COOPERATIVE 1986 NC PROVIDE FINANCIAL SERVICES TO THE MEMBERS OF THE CREDIT UNION 7 7 9 12 0 0 0 0 1009344 1082377 518953 450918 8228 45455 1536525 1578750 0 0 0 0 614982 627215 0 0 0 603196 782486 1218178 1409701 318347 169049 30169869 30851240 25974328 26325823 4195541 4525417 TO PROVIDE FINANCIAL SERVICES TO ITS MEMBERS WITH SAVINGS AND CHECKING DEPOSIT ACCOUNTS, LOANS TO MEMBERS AND ELECTRONIC SERVICES TO MEMBERS TO FACILITATE FINANCIAL SERVICES. 0 0 2,843 MEMBERS PROVIDED WITH FINANCIAL ACCOUNTS TOTALING $26,005,668 IN DEPOSITS. 1,921 MEMBER LOANS TOTALING $15,497,009 IN OUTSTANDING LOANS.PROVIDED ELECTRONIC SERVICES TO THESE MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 X 0 0 9 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 NC X MARC JACOBSON 8282416196 6519 COMMSCOPE RD CATAWBA NC 28609 ALEXANDER MEYER DIRECTOR 2.00 X 0 0 0 ROBERT FERBER DIRECTOR 2.00 X 0 0 0 WILLIAM DRUM JR DIRECTOR 2.00 X 0 0 0 PAUL DALE JR DIRECTOR 2.00 X 0 0 0 ROSE SIPE SECRETARY/TREASURER 2.00 X X 0 0 0 JEAN GAY VICE-CHAIRPERSON 2.00 X X 0 0 0 DALE SHERRILL CHAIRPERSON 2.00 X X 0 0 0 STEVE VADEN MANAGER/CEO 40.00 X 0 0 0 MARC JACOBSON MANAGING OFFICER 40.00 X 124954 0 8346 124954 0 8346 1 0 0 0 0 INTEREST FROM LOANS 522100 941489 941489 FEES 522100 140888 140888 1082377 450918 450918 MISCELLANEOUS OPERATIN 522100 45455 45455 45455 1578750 1127832 0 450918 X 130128 383715 28308 45907 39157 3000 28500 131871 3208 19394 21925 10800 296484 16708 CREDIT CARD EXPENSES 54928 PROVISION LOAN LOSS 30000 SURETY BOND 28436 FURN/EQUIP MAINTENANCE 21102 116130 1409701 2424807 3627248 175081 175081 82804 81209 14112973 15309627 53217 38571 800641 760418 13145 40223 13001463 11303654 306379 275627 30169869 30851240 173806 320155 25800522 26005668 25974328 26325823 X 0 0 0 0 4195541 4525417 4195541 4525417 30169869 30851240 169049 160827 0 X X 0 1 X 1 0 327097 324976 2121 180927 146490 34437 292617 288952 3665 40223 CERTIFICATES OF DEPOSIT 4472950 F FEDERAL NATIONAL MORTGAGE ASSOCIATION SECURITIES 5411280 F U.S. GOVERNMENT BONDS 1419424 F 11303654 MEMBER SHARES/DEPOSITS 26005668 26005668 X 1417923 -160827 -160827 1578750 0 1578750 1409701 0 1409701 0 1409701 PART X, LINE 2: THE CREDIT UNION HAS IMPLEMENTED THE NEW ACCOUNTING REQUIREMENTS ASSOCIATED WITH UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF FINANCIAL ACCOUNTS STANDARDS BOARD ASC 740, INCOME TAXES. USING THAT GUIDANCE, TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE-THAN-LIKELY-THAN-NOT THE POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. AS OF THE END OF THE CURRENT AND PRIOR YEAR, THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. FORM 990, PART V, LINE 1C THERE WERE NO REPORTABLE PAYMENTS WHICH WOULD REQUIRE COMPLIANCE WITH THE BACK UP WITHHOLDING RULES. FORM 990, PART VI, SECTION A, LINE 6 CS CREDIT UNION IS A MEMBER-OWNED, NON-PROFIT COOPERATIVE ORGANIZED UNDER THE LAWS OF THE STATE OF NORTH CAROLINA. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ARE ELIGIBLE TO VOTE DURING BOARD ELECTIONS. ALL MEMBERS OF THE GOVERNING BODY ARE ELECTED BY THE MEMBERSHIP WITH STAGGERED 3 YEAR TERMS ONCE A YEAR AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B AFTER THE 990 IS PREPARED, IT IS REVIEWED BY THE MANAGER AND BOARD OF DIRECTORS PRIOR TO FILING. THE BOARD VOTES ACCEPTANCE DURING THE NEXT REGULARLY SCHEDULED BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C IN THE EVENT OF A CONFLICT OF INTEREST DURING A BOARD VOTE OR DISCUSSION, THE BOARD MEMBER WITH THE CONFLICT RECUSES HIMSELF/HERSELF FROM THE VOTE OR DISCUSSION. FORM 990, PART VI, SECTION B, LINE 15 BOARD OF DIRECTORS REVIEW THE MANAGER'S OVERALL JOB PERFORMANCE AND MEASURE PERFORMANCE AGAINST OBJECTIVES TO DETERMINE OVERALL PERFORMANCE RATING. MERIT INCREASE IS DETERMINED BY PERFORMANCE RATING, AND COMPARABLE INDUSTRY DATA FOR THE POSITION, FOLLOWING ESTABLISHED GUIDELINES FOR SALARY GRADE LEVEL REQUIREMENTS. FORM 990, PART VI, SECTION C, LINE 19 ALL ARE AVAILABLE UPON WRITTEN REQUEST. FORM 990, PART IX, LINE 11G OUTSIDE SERVICES FEE 130,286. NCCUL SHARE DRAFT FEES 1,585. FORM 990, PART XII, LINE 2C THE PROCESS FOR SELECTION AND OVERSIGHT UNDER PART XII, LINE 2C, HAS NOT CHANGED SINCE THE PRIOR YEAR. COMMSCOPE INC 1100 COMMSCOPE PLACE SE HICKORY NC 28602 MANUFACTURING OF CABLE FOR ELECTRICAL & OPTICAL SYSTEMS NC N/A C 0 CPI SATCOM & ANTENNA TECHNOLOGIES 1700 CABLE DRIVE NE CONOVER NC 28613 MANUFACTURING OF SATELLITE COMMUNCATIONS, ANTENNA SYSTEMS, AND RADIO PRODUCT DE N/A C 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0