2024-04-10T11:53:15-07:00 2023-12-31 990 2023-01-01 750896179 TEXOMA COMMUNITY CREDIT UNION TEXO 9408514000 PO Box 1320 Wichita Falls TX 76307 John Buckley CEO 9408514040 2024-04-12 John Buckley 999009999 1 1 11 0 AAL2 X 2023 2023-04-26 12:10:37Z John Buckley 3800 Sheppard Access Rd Wichita Falls TX 76306 20005181 0 X TexomaCU.com X 1953 TX Texoma Community Credit Union is a provider of credit union financial services. 7 7 103 12 278232 0 0 0 13129878 15920967 413896 1221865 2789446 2821735 16333220 19964567 0 0 0 0 5509423 5956708 0 0 0 8029423 11001626 13538846 16958334 2794374 3006233 259230472 271045182 232579387 241387863 26651085 29657319 Texoma Community Credit Union is a provider of credit union financial services. 0 0 Share Accounts: Tccu's share accounts offer advantages to members of all ages. The Credit Union had over 25,000 member-owners on December 31, 2023. Members' savings accounts pay dividends quarterly and offer access through two local offices, home banking via the Internet or telephone, and ATMs worldwide. Special savings accounts designed for children encourage the development of consistent savings habits. Checking Accounts: TCCU provides checking accounts for consumers with various features, from free accounts to those with special benefits. Most offer dividends that are paid monthly. Additionally, the credit union extends the reach of these accounts to all members with free debit cards, internet account access and free use of the Internet bill payer platform. Over 40% of the credit union's member-owners have a checking account. Consumer Loans: TCCU has provided vehicle loans since its inception. The consumer loan product line now includes efficient underwriting and flexible offering for recreational behicles, boats, and motorcycles as well as mortgages, signature loans, individual lines of credit, and loans secured by savings accounts. Consumer life and disability insurance is available on any of these loan types and assures that participating member-owners' loan payments are made without interruption in the even of their loss of income through death or disability. TCCU provided home equity loans with single distribution, fixed rate and payment. TCCU also provides first mortgage loans to enable member-owners to purchase the American Dream- their own home. 0 0 0 0 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 4090 0 1 103 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 TX X Kate Donovan 9408514010 Texoma Community Credit Union 3800 Sheppard Access Rd Wichita Falls TX 76306 Tara Neal CHRO 40 0 X X X 314447 0 0 John Buckley President & CEO 40 0 X X X 200922 0 0 Kenneth Thomason EVP & CLO 40 0 X X X 168146 0 0 Angela Ohmstede COO 40 0 X X X 168080 0 0 Casey Allen Indirect Loan Officer 40 0 X X 155072 0 0 Kathryn Donovan CFO 40 0 X X X 144565 0 0 Chris Hansard VP of IT 40 0 X X 116296 0 0 Misti Todd Mortgage Operations Manager 40 0 X X 110536 0 0 Randy Brewster Commecial Loan Officer 40 0 X X 102306 0 0 Ripley Tate Board Chairman 3 0 X 0 0 0 Lacy Morgan Vice Chairman 1 0 X 0 0 0 Vanda Cullar Treasurer 1 0 X 0 0 0 Stacy Darnall Secretary 1 0 X 0 0 0 Tony Ramirez Director 1 0 X 0 0 0 Scott Poenitzsch Director 1 0 X 0 0 0 David Farabee Director 1 0 X 0 0 0 1480370 0 0 9 0 1 0 0 0 Interest on loans 522130 12967285 12967285 0 0 Member Fees & Charges 522130 2953682 2953682 0 0 0 0 0 0 15920967 1242729 1242729 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 19750 0 40614 0 -20864 -20864 -20864 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2821735 2543503 278232 0 2821735 19964567 19686335 278232 0 0 0 0 0 785365 0 4087169 139406 603720 341048 0 96478 77744 0 0 0 738697 1088201 689674 1881494 0 325081 0 0 114751 3040832 0 714081 106539 Provision for Loan Losses 1111145 Loan Servicing costs 457627 Miscellaneous losses 155742 Dues and subscriptions 49245 354295 16958334 0 0 0 5597733 3563901 0 0 0 0 3318861 3787557 0 0 0 0 220795926 225891737 0 0 255102 276811 9796753 5875339 3450735 3921414 0 0 17027750 24763031 0 0 0 0 8784365 8840731 259230472 271045182 3502535 3639652 0 0 0 0 0 0 0 0 0 0 0 0 0 0 229076852 237748211 232579387 241387863 X 0 0 0 0 26651085 29657319 26651085 29657319 259230472 271045182 3006233 1 0 0 0 0 X X 0 1 1 0 0 1212023 1212023 0 4398281 2277122 2121159 0 0 0 0 0 0 0 0 0 4186449 3598217 588232 3921414 24763031 F 0 24763031 0 Member's Shares 237748211 237748211 19964567 0 0 0 0 0 19964567 0 0 0 19964567 16958334 0 0 0 0 0 16958334 0 0 0 16958334 X X 1 1 X X X 0 1 0 John Buckley President & CEO 175922 0 25000 0 0 0 0 0 0 0 200922 0 0 0 Kenneth Thomason EVP & CLO 146646 0 21500 0 0 0 0 0 0 0 168146 0 0 0 Angela Ohmstede COO 143877 0 24203 0 0 0 0 0 0 0 168080 0 0 0 Tara Neal CHRO 142631 0 171816 0 0 0 0 0 0 0 314447 0 0 0 Kathryn Donovan CFO 124065 0 20500 0 0 0 0 0 0 0 144565 0 0 0 Misti Todd Mortgage Operations Manager 99951 0 10585 0 0 0 0 0 0 0 110536 0 0 0 Casey Allen Indirect Loan Officer 95624 0 59448 0 0 0 0 0 0 0 155072 0 0 0 Chris Hansard VP of IT 111796 0 4500 0 0 0 0 0 0 0 116296 0 0 0 Randy Brewster Commecial Loan Officer 96961 0 5345 0 0 0 0 0 0 0 102306 0 0 0 Schedule J, Part I, Line 1a TCCU has a policy that provides for the travel of 1 companion when an employee must travel for business. Any employee or director may use this policy while traveling to conferences/meetings. TCCU also has a written policy that allows for up to $20/mo of gym membership or health club dues for all employees that meet the criteria of a certain number of visits per month and submit a written request. Schedule J, Part I, Line 3 A CEO Executive Committee annually determines the CEO's salary based on his performance for the year, peer comparisons of performance and other determining factors. They consult two different salary/compensation guides for the industry (Balance Comp & the Cornerstone Credit Union League's Annual Compensation Survey). Schedule J, Part I, Line 4 Kate Donovan, Tara Neal, Angie Ohmstede, and Casey Allen all participated in a 457(f) plan during 2023. Kenneth Thomason, John Buckley, Kate Donovan, Angie Ohmstede, and Tara Neal all participated in Split Dollar plans during 2023 as well. Total Credit Union principle, not including accrued interest, in the Split Dollar plans is $2,675,000. Form 990, Part VI, Section A, Line 6 As a credit union, anyone who wishes to join and is eligible (as defined in the bylaws) must open and maintain a shares account of $25. Form 990, Part VI, Section A, Line 7a As a credit union, anyone who wishes to join and is eligible (as defined in the bylaws) must open and maintain a shares account of $25. Form 990, Part VI, Section B, Line 11b A copy of the 990 was provided to TCCU's Board of Directors for review. Questions and comments, if any, are submitted to the CFO for further discussion and follow-up response back to the BoD for final approval. Form 990, Part VI, Section B, Line 12c Directors and officers sign a binding agreement to disclose any and all potential conflicts of interest. Directors and officers are required to recuse themselves from participation in discussion of business and voting when they might have a vested interest with an issue up for consideration. Such actions are recorded in the minutes of the meetings of the BoD if and when they occur. Form 990, Part VI, Section B, Line 15 The BoD has a CEO Performance Evaluation Committee. The major item, aside from performance, they use to determine pay are wage compensation survey tools called Balanced Comp and Cornerstone Credit Union League's annual compensation guide. This compares credit union employee compensation based on asset categories, location, and various other factors to determine a pay that is fair and reasonable. This tool is used for each credit union employee. Form 990, Part VI, Section C, Line 19 TCCU makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Form 990, Part XII, Line 2c The independently functioning audit committee of Texoma Community Credit Union selected an independent CPA firm to audit the CU's financials. This was the fourth year they selected an independent CPA firm to do a full financial statement audit rather than the Agreed Upon Procedures Audit.