2024-10-23T11:45:27-05:00 2023-12-31 202122306 GBQ PARTNERS LLC 4030 SMITH ROAD SUITE 400 CINCINNATI OH 45209 990 2023-01-01 310387145 UNIVERSAL 1 CREDIT UNION UNIV 9372256800 1 RIVER PARK DR DAYTON OH 454092104 KATHRYN M LEWIS TREASURERCFO TREASURER/CFO 9372256800 2024-10-16 1 1 KATHY M MOSELEY P00116760 5138713033 2024-10-16 2023 2024-10-15 13:58:12Z JESSICA O JONES 1 RIVER PARK DR DAYTON OH 454092104 26379705 0 X WWW.U1CU.ORG X 1937 OH STATE-CHARTERED CREDIT UNION ORGANIZED TO PROVIDE MEMBERS WITH FINANCIAL SERVICES AND PRODUCTS. 7 6 80 7 166453 0 0 0 17930898 21363880 2606068 4990463 0 0 20536966 26354343 0 0 0 0 6571969 6081076 0 0 0 11793242 17494850 18365211 23575926 2171755 2778417 453082352 417035587 419673621 377657026 33408731 39378561 X TO ADVANCE THE CREDIT UNION IDEAL OF A MEMBER OWNED, NOT-FOR-PROFIT FINANCIAL COOPERATIVE: TO PROVIDE AND PROMOTE THE USE OF NUMEROUS INNOVATIVE AND HIGH QUALITY FINANCIAL SERVICES FEATURING COMPETITIVE BENEFITS AND ADVANTAGES TO HELP MEMBERS GAIN PERSONAL FINANCIAL SUCCESS; AND TO EXTEND SERVICES EMPHASIZNG FINANCIAL EDUCATION THROUGHOUT THE MEMBERSHIP AND COMMUNITY. 0 0 LENDING TO CREDIT UNION MEMBERS: WE PROVIDED 7,427 CREDIT CARD AND LINE OF CREDIT LOANS; 7,546 VEHICLE LOANS; 1,241 MORTGAGE LOANS; AND 521 OTHER LOANS TO MEMBERS IN 2023 PROVIDING FINANCIAL SERVICES TO CREDIT UNION MEMBERS: WE PROVIDED 30,601 CHECKING ACCOUNTS; 36,258 SAVINGS ACCOUNTS; 1,038 MONEY MARKET ACCOUNTS; 1,281 RETIREMENT ACCOUNTS; 2,616 CERTIFICATES OF DEPOSIT; AND 3,116 OTHER ACCOUNTS TO MEMBERS IN 2023. 0 0 0 0 0 0 0 1 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 7050 0 1 80 1 1 1 0 0 0 0 0 0 0 0 0 X 7 6 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 1 1 X KATHRYN M LEWIS 9372256800 1 RIVER PARK DRIVE DAYTON OH 45409 X JESSICA O JONES PRESIDENT/CEO 36.00 X X 371949 0 29663 THOMAS J HICKEY CHAIRMAN 1.00 X X 0 0 0 JEFFREY W GAMMELL SECRETARY 1.00 X X 0 0 0 ROSEMARY D DOMANSKY DIRECTOR 1.00 X X 0 0 0 MICHAEL P THONNERIEUX DIRECTOR 1.00 X X 0 0 0 NANCY J STAPP DIRECTOR 1.00 X X 0 0 0 JASON A KERSHNER DIRECTOR 1.00 X X 0 0 0 KATHRYN M LEWIS TREASURE/CFO 36.00 X 159948 0 41303 LISA N SCHAEFER CHIEF OPERATIONS OFFICER 36.00 X 157555 0 44245 DANIEL L GOUGE VP-DIGITAL STRATEGY 36.00 X 107079 0 43044 MICHAEL L HARDWICK CHIEF INFORMATION OFFICER 36.00 X 164991 0 14484 KAREN N SHROYER CAO 36.00 X 140631 0 12354 CAROL J KUCERA EXECUTIVE ADMIN ASST 36.00 X 44705 0 2288 CEEDRA ALLEN VP-COMPLIANCE 36.00 X 64851 0 24483 MOLLY L FENNELL VP-OPERATIONS 36.00 X 96376 0 36597 LAWRENCE J FERNANDEZ VP-LENDING 36.00 X 113444 0 13658 AMBER BEARD VP-HUMAN RESOURCES 36.00 X 43138 0 4507 RODNEY PINKNEY VP-RISK MANAGEMENT 36.00 X 29557 0 2359 1494224 0 268985 7 0 1 0 0 LOAN INTEREST & FEE INCOME 522100 18511198 18485365 25833 OTHER INCOME 522190 2687800 2621895 65905 INSURANCE INCOME 524298 164882 90167 74715 21363880 5006552 5006552 6 9267 3 25359 3 -16092 -16089 -16089 26354343 21197427 166453 4990463 1763209 3614329 -326123 657364 372297 238359 124330 177502 100654 270336 940540 2958714 911700 39231 40845 19 88147 466411 94630 PROVISIONS FOR LOAN LOS 6633534 MEMBER DIVIDEND PAID 3213223 LOAN EXPENSE 951761 MISCELLANEOUS 244914 23575926 4350091 2422846 72604655 53853819 2424774 361988 264264860 244260402 1934677 2667430 24003469 17062673 7426380 6940796 90998076 94313782 9078839 12214524 453082352 417035587 2017518 2471507 444388 415384 417211715 374770135 419673621 377657026 X 0 0 0 0 33408731 39378561 33408731 39378561 453082352 417035587 2778417 3191413 0 X 0 0 0 0 1 X 2720372 2720372 11538099 7606795 3931304 317540 317540 0 9427458 9138338 289120 6940796 OTHER SECURITIES 94313782 F 94313782 MEMBER SHARES AND CERTIFICATES 374770135 374770135 PART IV, LINE 2B: THE CREDIT UNION COLLECTS A MONTHLY AMOUNT ALONG WITH PRINCIPAL AND INTEREST FOR FIRST MORTGAGE LOANS TO PAY THE MEMBER'S REAL ESTATE TAXES AND INSURANCE. PART X, LINE 2: INCOME TAXES FOOTNOTE FROM THE SEPTEMBER 30, 2023 AUDITED FINANCIAL STATEMENTS: AS A STATE CHARTERED CREDIT UNION, THE CREDIT UNION IS EXEMPT FROM FEDERAL, STATE AND LOCAL TAXES UNDER THE PROVISIONS OF 501(C)(14) OF THE INTERNAL REVENUE CODE. THE CREDIT UNION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ITS FINANCIAL STATEMENTS AS REQUIRED UNDER FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ACS), 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 POSITIONS TAKEN BY THE CREDIT UNION IN ITS TAX RETURNS. X 1 1 X X 0 1 0 JESSICA O JONES PRESIDENT/CEO 331627 0 40000 0 322 0 26400 0 3263 0 401612 0 0 0 LISA N SCHAEFER CHIEF OPERATIONS OFFICER 138109 0 19300 0 146 0 13206 0 31039 0 201800 0 0 0 KATHRYN M LEWIS TREASURE/CFO 140325 0 19300 0 323 0 13206 0 28097 0 201251 0 0 0 MICHAEL L HARDWICK CHIEF INFORMATION OFFICER 145691 0 19300 0 0 0 13199 0 1285 0 179475 0 0 0 KAREN N SHROYER CAO 126008 0 14300 0 323 0 11225 0 1129 0 152985 0 0 0 DANIEL L GOUGE VP-DIGITAL STRATEGY 90191 0 16300 0 588 0 9409 0 33635 0 150123 0 0 0 PART I, LINE 1A BOARD OF DIRECTORS COMPANIONS RECEIVED A 1099-NEC IF THEIR TRAVEL EXPENSES WERE GREATER THAN $600. PART I, LINE 4B THE CREDIT UNION HAS SUPPLEMENTAL NONQUALIFIED DEFERRED COMPENSATION AGREEMENTS WITH CERTAIN KEY OFFICERS. THE AGREEMENTS GENERALLY PROVIDE BENEFITS IN A LUMP SUM PAYMENT AT CERTAIN DATES DEFINED IN THE INDIVIDUAL AGREEMENTS. THE DATES ESTABLISHED APPROXIMATE THE RETIREMENT DATE OF THE INDIVIDUAL OFFICER. PARTICIPANTS ARE JESSICA JONES, KATHRYN LEWIS, LISA SCHAEFER AND MICHAEL HARDWICK. DURING 2023 NO EMPLOYER CONTRIBUTIONS WERE MADE. FORM 990, PART VI, SECTION A, LINE 6 STRONG FINANCIAL COOPERATIVE EXTENDING COMPETITIVE FINANCIAL PRODUCTS AND SERVICES TO MEMBERS ALL OVER THE WORLD. INDIVIDUALS ARE ELIGIBLE TO JOIN THE CREDIT UNION IF THEY LIVE, WORK, WORSHIP, OR ATTEND SCHOOL IN ONE OF OUR MANY COMMUNITIES THAT WE SERVE; HAVE A FAMILY MEMBER WHO IS AN ESTABLISHED MEMBER OF THE CREDIT UNION; OR WORK FOR A COMPANY THAT IS AFFILIATED WITH THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A YES - ONE VOTE PER MEMBER OF THE CREDIT UNION FORM 990, PART VI, SECTION A, LINE 7B YES - PURSUANT TO THE REGULATION OF THE NCUA AND THE OHIO DIVISION OF CREDIT UNIONS FORM 990, PART VI, SECTION B, LINE 11B THE TREASURER/CFO REVIEWS THE FORM 990 PREPARED BY THE ACCOUNTING FIRM BASED ON THE AUDITED FINANCIAL STATEMENTS AND THE INFORMATION PROVIDED BY THE CREDIT UNION. IN ADDITION, AN ELECTRONIC COPY OF THE FORM 990 IS SUBMITTED TO EACH MEMBER OF THE ORGANIZATION'S GOVERNING BODY FOR REVIEW OF THE RETURN PRIOR TO FILING. FORM 990, PART IV, LINE 12: THE ORGANIZATION OBTAINED SEPARATE INDEPENDENT AUDITED FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDING 9/30/2023 AND WILL OBTAIN SEPARATE INDEPENDENT AUDITED FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDING 9/30/2024. FORM 990, PART VI, SECTION B, LINE 12C INCLUDED IN THE EMPLOYEE HANDBOOK, SECTION 4, PAGES 14-15 STATE "THE EMPLOYEE MUST NEVER USE THEIR POSITION WITH THE ORGANIZATION, OR ANY OF ITS MEMBERS, OR AFFILIATES FOR PRIVATE GAIN, TO ADVANCE PERSONAL INTERESTS OR TO OBTAIN FAVORS OR BENEFITS FOR THEMSELVES, MEMBERS OF THEIR FAMILIES OR ANY OTHER INDIVIDUALS, CORPORATIONS OR BUSINESS ENTITIES. THE CREDIT UNION WILL ADHERE TO OHIO ADMINISTRATIVE CODE 1301:9-2-13 REQUIRING THE REPORTING OF ALL TRANSACTIONS, OTHER THAN REIMBURSEMENT AND EMPLOYEE WAGES BETWEEN THE CREDIT UNION AND ITS EMPLOYEES OR IMMEDIATE FAMILY THEREOF OR BUSINESS CONTROLLED THEREBY MUST BE DISCLOSED ANNUALLY TO THE SUPERINTENDENT. EMPLOYEES ARE REQUIRED TO PROVIDE THE APPLICABLE REPORTABLE INFORMATION TO HUMAN RESOURCES." FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION RECEIVES THE ANNUAL SALARY SURVEY FROM CUNA (CREDIT UNION NATIONAL ASSOCIATION) AND CUES (CREDIT UNION EXECUTIVE SOCIETY), WHICH IT PURCHASES SPECIFICALLY FOR THE PURPOSES OF DETERMINING COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE CURRENT FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY OF THE MAIN OFFICE AND ALL DIVISION OFFICES. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON WRITTEN REQUEST FOR THE SAME PERIOD OF TIME AS SET FORTH IN THE INTERNAL REVENUE CODE SECTION 6104(D). FORM 990, PART XII, LINE 2C: THE ORGANIZATION'S PROCESS FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL UNIVERSAL 1 CREDIT UNION INC 31-0387145 STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR.