2024-11-08T10:33:29+00:00 2023-12-31 440160260 Forvis Mazars LLP 820 Massachusetts Ave Suite 1370 Indianapolis IN 46204 990 2023-01-01 344455780 Superior Credit Union Inc SUPE 4192239746 4230 Elida Road Lima OH 45807 Stacy Deitering CFO 4192239746 2024-11-08 true Michael Summers P00838533 3173834000 2024-11-15 2023 2024-10-15 13:58:12Z PHILLIP BUELL 4230 Elida Road Lima OH 45807 105126396 false X www.superiorcu.com/# X 1954 OH PROVIDE FINANCIAL SERVICES TO ITS MEMBERS. 9 9 299 9 4011382 0 0 0 52262354 62369721 9847155 20723586 0 0 62109509 83093307 257000 258000 0 0 19350901 20538260 0 0 0 25166136 43164750 44774037 63961010 17335472 19132297 1509527180 1651046839 1337858108 1451027457 171669072 200019382 WE PROMISE TO SIMPLIFY YOUR LIFE. WE PROMISE TO WORK IN YOUR BEST INTEREST. WE PROMISE TO HELP YOU BUILD YOUR FINANCIAL FUTURE. WE PROMISE TO PROVIDE PRODUCTS AND SERVICES RELEVANT TO YOUR NEEDS. WE PROMISE TO PROTECT YOUR PRIVACY. false false PROVIDE FINANCIAL SERVICES TO ITS MEMBERS. 0 false false false false false false true false true true false false true true false true false false false false false false false false false false true true false true false false false false false false false false true false false false true 21661 0 true 299 true true true false false false false false true false X 9 9 false false false false true true false true true false true true true true true true true true true true true true OH X STACEY DEITERING 5679406301 4230 ELIDA RD LIMA OH 45807 CHERYL LAWSON TREASURER 1.0 X X 0 0 0 GREGORY SHRADER VICE CHAIRMAN 1.0 X X 0 0 0 JAMES BACOME CHAIRMAN 1.0 X X 0 0 0 KELLY RECKER SECRETARY 1.0 X X 0 0 0 DAVID WATKINS DIRECTOR 1.0 X 0 0 0 JOE PATTON DIRECTOR 1.0 X 0 0 0 JOEL PARKER SUPERVISORY COMMITTEE - CHAIR 1.0 X 0 0 0 LYNN CARPENTER DIRECTOR (BEGIN 04/2023) 1.0 X 0 0 0 MARIA RELLINGER DIRECTOR (END 04/2023) 1.0 X 0 0 0 PAMELA SHAW DIRECTOR 1.0 X 0 0 0 RAYMOND HUGHES Director 1.0 X 0 0 0 KEITH EIDEN EVP SALES & LENDING 40.0 X 288066 0 57893 KURTIS NEEPER SVP DEVELOPMENT/CEO OF SFS 40.0 X 198450 0 51675 MELANIE WELDY COO 40.0 X 225498 0 53341 PHILLIP BUELL PRESIDENT - CEO 40.0 X 1152224 0 60200 STACEY DEITERING CFO 40.0 X 219015 0 53065 BRIAN GRIME IS MANAGER 40.0 X 174736 0 50101 JEFFREY BEINING SVP ASSET MANAGEMENT 40.0 X 222340 0 42755 STEVEN BOROFF SVP ADMINISTRATION 40.0 X 177393 0 23370 CAROL BUETTNER VP Private Banking 40.0 X 184417 0 40074 JANICE VON DER EMBSE VP TRUST SERVICES 40.0 X 256271 0 28757 MICHELLE BOUGHAN MORTGAGE ORIGINATOR 40.0 X 153774 0 34377 TIMOTHY NIEBEL Investment Services Representative 40.0 X 207670 0 52261 TRACY STROUS VP INVESTMENT SERVICES 40.0 X 301712 0 48274 3761566 0 596143 27 false true false CTW DEVELOPMENT CORP 970 WINDHAM COURT STE 7 BOARDMAN OH 44512 CONSTRUCTION 10056246 SCHNIPKE BUILDERS LLC 105 S MAIN ST GLANDORF OH 45848 CONSTRUCTION 3200831 DUTCH BUILDERS LLC 8319 ASHRIDGE ARNHEIM RD SARDINIA OH 45171 CONSTRUCTION 1998500 R E BECKER BUILDERS INC 13999 CEMETERY RD WAPAKONETA OH 45895 CONSTRUCTION 1586383 TRI-ACTION CONSTRUCTION INC 6402 ST RTE 65 LEIPSIC OH 45856 CONSTRUCTION 797742 76 0 INTEREST ON LOANS 522100 42272090 42272090 FEE INCOME 522100 6875956 2864574 4011382 OTHER INCOME 522100 9303033 9303033 DEPOSIT INCOME 522100 3918642 3918642 0 0 0 0 62369721 18915672 18915672 0 0 23841003 22033089 1807914 0 1807914 1807914 0 0 0 0 0 83093307 58358339 4011382 20723586 258000 3050122 13878025 1443421 960742 1205950 559705 2369185 7674691 396747 270015 22916276 1240526 3044155 CARD PROCESSING FEES 2512019 OTHER EXPENSES 1101000 PROVISION FOR LOAN LOSSES 774170 DIRECTOR AND DUES 164358 141903 63961010 14874239 11082316 45490890 79611691 0 0 0 1949951 928389437 1007205246 10352504 8675342 40906405 17356260 21465768 23550145 472730765 500750095 0 1636907 1665024 14586670 16557029 1509527180 1651046839 12381439 13080243 12733695 12709653 0 0 50000000 105000000 1262742974 1320237561 1337858108 1451027457 171669072 200019382 171669072 200019382 1509527180 1651046839 X 19132297 4662084 4555929 X false true X true false false true X 4649556 4649556 23477240 6893342 16583898 833755 460666 373089 11440903 9504537 1936366 504951 497715 7236 23550145 Exchange traded funds 22804215 F Available-for-sale investments 397569551 F Held-to-maturity investments 292543 C Investments - other securities 80083786 C 500750095 Members' share accounts 1318901534 Dividends payable 1336027 1320237561 X Schedule D, Part IV, Line 2b Explanation of escrow agreement THE CREDIT UNION SERVICES 1ST MORTGAGE LOANS AND AS PART OF PROVIDING THIS SERVICE, COLLECTS PROPERTY INSURANCE AND REAL ESTATE TAX PAYMENTS MONTHLY FROM HOME OWNERS. THE CREDIT UNION HOLDS THE FUNDS IN ESCROW UNTIL THE INSURANCE PREMIUMS OR TAX BILLS ARE DUE. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote THE CREDIT UNION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ITS FINANCIAL STATEMENTS AS REQUIRED UNDER FASB ASC, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE STANDARD PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE STANDARD ALSO PROVIDES GUIDANCE ON DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION ACCOUNTING. MANAGEMENT DETERMINED THERE WERE NO MATERIAL UNCERTAIN POSITION TAKEN BY THE CREDIT UNION IN ITS TAX RETURNS. true FIRST TIME HOME BUYERS GRANT 129 258000 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. THESE GRANTS ARE CALLED "SUPERIOR FIRST ARE GIVEN TO FIRST TIME HOME BUYERS. THE AMOUNT IS GIVEN TO THE MEMBER ON THE FUNDING OF THE HOME LOAN. SUPERIOR CREDIT UNION THEN KNOWS THE GRANT IS BEING USED FOR ITS INTENDED PURPOSES. X X true true X X X X X X false true false STACEY DEITERING CFO 207808 0 11207 0 0 0 15965 0 37100 0 272080 0 0 0 PHILLIP BUELL PRESIDENT - CEO 498066 0 94286 0 559872 0 23100 0 37100 0 1212424 0 0 0 KEITH EIDEN EVP SALES & LENDING 254979 0 33087 0 0 0 20793 0 37100 0 345959 0 0 0 MELANIE WELDY COO 213987 0 11511 0 0 0 16241 0 37100 0 278839 0 0 0 KURTIS NEEPER SVP DEVELOPMENT/CEO OF SFS 164341 0 34109 0 0 0 14575 0 37100 0 250125 0 0 0 JEFFREY BEINING SVP ASSET MANAGEMENT 210820 0 11520 0 0 0 16255 0 26500 0 265095 0 0 0 BRIAN GRIME IS MANAGER 165807 0 8929 0 0 0 13001 0 37100 0 224837 0 0 0 STEVEN BOROFF SVP ADMINISTRATION 168459 0 8934 0 0 0 12770 0 10600 0 200763 0 0 0 TRACY STROUS VP INVESTMENT SERVICES 64622 0 237090 0 0 0 21774 0 26500 0 349986 0 0 0 JANICE VON DER EMBSE VP TRUST SERVICES 88738 0 167533 0 0 0 18157 0 10600 0 285028 0 0 0 MICHELLE BOUGHAN MORTGAGE ORIGINATOR 16130 0 137644 0 0 0 11122 0 23255 0 188151 0 0 0 TIMOTHY NIEBEL Investment Services Representative 49876 0 157794 0 0 0 15161 0 37100 0 259931 0 0 0 CAROL BUETTNER VP Private Banking 138788 0 45629 0 0 0 13574 0 26500 0 224491 0 0 0 Schedule J, Part I, Line 1a Travel for companions Superior Credit Union provides travel for companions for board members only. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan Phillip Buell participated in a 457(f) plan. During 2023, the plan distributed $559,872 to him. James Bacome CHAIRMAN Mortgage X 100000 91323 false false true James Bacome CHAIRMAN Credit Card X 481 false false true James Bacome CHAIRMAN Mortgage X 130000 113612 false false true Brian Grime IS Manager Mortgage X 180500 117836 false false true David Watkins Director Auto Loan X 18048 15321 false false true Stacey Deitering CFO Auto Loan X 35709 8329 false false true Stacey Deitering CFO Credit Card X 877 false false true Stacey Deitering CFO Home Equity LOC X 114628 81716 false false true Jeffrey Beining SVP Asset Management CREDIT CARD X 0 23 false false true Keith Eiden EVP Sales & Lending Credit Card X 1410 false false true Cheryl Lawson TREASURER Home Equity LOC X 44301 false false true Cheryl Lawson TREASURER Mortgage X 50000 33868 false false true Cheryl Lawson TREASURER Mortgage X 440000 411321 false false true Kurtis Neeper SVP Development/CEO of SFS Credit Card X 2803 false false true Kurtis Neeper SVP Development/CEO of SFS Home Equity LOC X 44593 false false true Kurtis Neeper SVP Development/CEO of SFS Mortgage X 350200 294356 false false true Pamela Shaw Director Credit Card X 95 false false true Joel Parker Supervisory Committee - Chair Home Equity LOC X 44411 false false true Joe Patton Director Mortgage X 89000 15358 false false true Joe Patton Director Credit Card X 1199 false false true Phillip Buell President - CEO Credit Card X 269 false false true Kelly Recker secretary Mortgage X 150000 51296 false false true Gregory Shrader Vice Chairman Auto Loan X 13035 7167 false false true Gregory Shrader Vice Chairman Credit Card X 11688 false false true Gregory Shrader Vice Chairman Home Equity LOC X 19176 false false true Melanie Weldy COO Mortgage X 152940 113065 false false true STACEY DEITERING CFO AUTO LOAN X 40665 33085 false false true GREGORY SHRADER Vice Chairman MORTGAGE X 63100 58351 false false true JOEL PARKER Supervisory Committee - Chair MORTGAGE X 252500 236531 false false true JOEL PARKER Supervisory Committee - Chair AUTO loan X 6374 2070 false false true JOEL PARKER Supervisory Committee - Chair AUTO loan X 6451 5002 false false true JOEL PARKER Supervisory Committee - Chair CREDIT CARD X 0 5236 false false true MARIA RELLINGER DIRECTOR MORTGAGE X 125000 83782 false false true 1949951 Form 990, Part VI, Line 6 Classes of members or stockholders MEMBERSHIP IS REQUIRED BY THE CREDIT UNION. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body THE ORGANIZATION HAS MEMBERS WHO ELECT THE BOARD OF DIRECTORS AT INTERVALS DESCRIBED IN THE BYLAWS. Form 990, Part VI, Line 11b Review of form 990 by governing body THE ORGANIZATIONS PROVIDES A COPY OF THE 990 TO THE BOARD OF DIRECTORS TO REVIEW BEFORE FILING. Form 990, Part VI, Line 12c Conflict of interest policy ANNUALLY, ALL MEMBERS OF MANAGEMENT COMPLETE AND SIGN A CONFLICT OF INTEREST STATEMENT AND DISCLOSE ALL OUTSIDE POSITIONS HELD. THIS FORM IS THEN AUDITED BY OUR INTERNAL AUDITOR. A BOARD MEMBER WITH A CONFLICT ABSTAINS FROM VOTING. Form 990, Part VI, Line 15a Process to establish compensation of top management official CEO AND EXECUTIVE VP SALARIES ARE REVIEWED BY AHO CONSULTING. THE BOARD OF DIRECTORS REVIEWS THE CEO COMPENSATION REPORTS AND APPROVES INCREASES BASED ON PERFORMANCE AND THE INFORMATION. THE CEO REVIEWS THE EXECUTIVE VP COMPENSATION REPORTS AND APPROVES INCREASES BASED ON PERFORMANCE AND THE INFORMATION. Form 990, Part VI, Line 15b Process to establish compensation of other employees ALL OTHER MANAGEMENT POSITIONS ARE REVIEWED BY THE SVP ADMINISTRATION BY USING SALARY SURVEYS FROM CUNA ON AN ANNUAL BASIS. THE SALARY REVIEW IS PRESENTED TO THE CEO AND DISCUSSED. A MERIT PAY INCREASE TABLE IS APPROVED BY THE CEO AND PAY INCREASES FOR MANAGEMENT ARE BASED ON A PERFORMANCE EVALUATION. THE EVALUATION SCORE IS COMPARED TO THE MERIT PAY INCREASE TABLE FOR A PAY INCREASE. Form 990, Part VI, Line 19 Required documents available to the public THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. Form 990, Part XI, Line 9 Other changes in net assets or fund balances CUMULATIVE CHANGE FOR ADOPTION OF ASC 326 - -627696; EQUITY ACQUIRED IN MERGERS - 5183625; SUPERIOR FINANCIAL SOLUTIONS LLC 4230 ELIDA RD LIMA OH 45807 205799048 FINANCIAL SERVICES OH 3991817 8968630 SUPERIOR CU