2024-11-15T15:49:51-06:00 2023-12-31 202122306 GBQ PARTNERS LLC 4030 SMITH ROAD SUITE 400 CINCINNATI OH 45209 990 2023-01-01 344475249 DIRECTIONS CREDIT UNION INC DIRE 4198419838 200 N ST CLAIR STREET 1600 TOLEDO OH 43604 JOHN USTASZEWSKI CFO 4198419838 2024-11-15 1 1 KATHY M MOSELEY P00116760 5138713033 2024-11-15 2023 2024-10-15 13:58:12Z JOHN USTASZEWSKI 200 N ST CLAIR STREET 1600 TOLEDO OH 43604 62910262 0 X WWW.DIRECTIONSCU.ORG X 1953 OH TO BE A TRUSTED PARTNER IN HELPING MEMBERS ACHIEVE THEIR FINANCIAL GOALS. 11 11 357 8 612225 0 0 0 48338335 60169198 2984113 2741064 0 0 51322448 62910262 0 0 0 0 19761410 21024825 0 0 0 26300138 33315639 46061548 54340464 5260900 8569798 1181695704 1202737664 1084008926 1092644038 97686778 110093626 TO BE A TRUSTED PARTNER IN HELPING MEMBERS ACHIEVE THEIR FINANCIAL GOALS. 0 0 PROVIDE 95,624 MEMBERS WITH SHARE DRAFTS, REGULAR SHARES, IRA, MONEY MARKET, CERTIFICATES AND OTHER SAVINGS ACCOUNTS. PROVIDE LOANS INCLUDING CREDIT CARD, LINE OF CREDIT, NEW AND USED VEHICLE, FIRST MORTGAGE, BUSINESS, INDIRECT, PAY DAY, PARTICIPATION AND OTHER REAL ESTATE. OFFER ATM, DEBIT CARDS, CHECK CASHING, WIRE TRANSFERS, MONEY ORDERS, TRAVELERS CHECKS, OD PRIVILEGES, SAFE DEPOSIT BOXES, COIN COUNTING, BILL PAY, SHARED BRANCHING, FINANCIAL EDUCATION AND VARIOUS INSURANCE PROGRAMS TO ALL ELIGIBLE MEMBERS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 1 0 0 0 1 15920 0 1 357 1 1 1 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X X JOHN USTASZEWSKI 4198419838 200 N ST CLAIR STREET SUITE 1600 TOLEDO OH 43604 JAY MALCOLM BOARD VICE CHAIR 3.00 X 0 0 0 MARK KOTT BOARD SECRETARY 2.00 X X 0 0 0 SARAH PAWLICKI BOARD MEMBER 1.00 X 0 0 0 JOE SHARP BOARD MEMBER 1.00 X 0 0 0 PATRICE SCOTT BOARD MEMBER 1.00 X 0 0 0 FREDERICK A KOMINEK BOARD TREASURER 1.00 X 0 0 0 RAY LEIGHTON BOARD MEMBER 1.00 X 0 0 0 PATRICIA PETERSON BOARD MEMBER 1.00 X X 0 0 0 BARRY SHANER CEO 45.00 X 516513 0 10788 SONJA DELANEY CHIEF STRATEGY OFFICER 45.00 X 254079 0 6852 BRIAN EPSTEIN CHIEF EXPERIENCE OFFICER 45.00 X 266079 0 7461 MATT GIES CHIEF TALENT OFFICER 45.00 X 223421 0 5580 JONATHAN POLLOCK CHIEF RISK OFFICER 45.00 X 236408 0 5929 JOHN USTASZEWSKI CHIEF FINANCIAL OFFICER 45.00 X 265058 0 7445 SCOTT SWAN SVP - LENDING 45.00 X 181857 0 4230 JULIE LINCH SVP RETAIL OPS & PHYS PRESENCE 45.00 X 218712 0 5907 BRENDA COVRETT VP OF BRANDING & COMM ENGAGEMENT 40.00 X 144044 0 3239 PATRICK HARRIGAN VP RETAIL OPERATIONS 40.00 X 130032 0 3840 DIANE HARRIS VP CENTRAL OHIO MARKET 40.00 X 132773 0 3787 LISA WAGNER VP OF COMMERCIAL BANKING 40.00 X 131228 0 2869 JENNIFER HERNES SR MORTGAGE LOAN ORIGINATOR 40.00 X 285941 0 8123 2986145 0 76050 13 0 1 0 BANKOWSKI BUILDERS 9265 VILLAGE MEADOWS TEMPERANCE MI 48182 CONSTRUCTION 5308242 AREA FINANCIAL SERVICES 315 CROGHAN ST FREMONT OH 43420 COMPUTER MAINFRAME CUSO 3430544 BLACK OAK BUILDING COMPANY 5839 VAIL AVE TOLEDO OH 43623 CONSTRUCTION 2931454 DOUG HOWARD BUILDING CO 2780 CENTENNIAL RD TOLEDO OH 43617 CONSTRUCTION 1792800 HBJD CORP (HOMES BY JOSH DOYLE) PO BOX 161 MONCLOVA OH 43542 CONSTRUCTION 1473282 41 INTEREST ON LOANS 522100 46093329 46093329 CARD INCOME 522100 8237670 7625445 612225 DEPOSIT-RELATED INCOME 522100 3853411 3853411 LENDING-RELATED INCOME 522100 1124579 1124579 MORTGAGE-RELATED INCOME 522100 564868 564868 295341 295341 60169198 2741064 2741064 62910262 59556973 612225 2741064 3855468 14648084 248118 993753 1279402 13306 81485 283542 1622000 13670949 2871087 90973 450283 7184621 2257073 244496 PROVISION FOR LOAN LOSS 2615000 MISCELLANEOUS OPERATING 1930824 54340464 12107843 11750618 36435604 49483903 969176493 1008520327 32837729 18724902 14848478 14112827 107683672 85951027 41443614 32918962 1181695704 1202737664 27626492 27776624 6000000 43974482 1050382434 1020892932 1084008926 1092644038 X 0 0 0 0 97686778 110093626 97686778 110093626 1181695704 1202737664 X 8569798 2892104 944946 X 0 1 X 1 0 3717205 3717205 10327244 6233218 4094026 8362263 4436155 3926108 10431017 8055529 2375488 14112827 AFS INVESTMENTS 71044837 F HTM INVESTMENTS 5666000 C CERTIFICATES 248000 C INVESTMENT IN CUSO'S 1162145 C FEDERAL HOME LOAN BANK 2942700 C INVESTMENT IN OTHER CREDIT UNIONS 4887345 C 85951027 MEMBERS' SHARES & DEPOSITS 1020892932 1020892932 X PART X, LINE 2: 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. THE CREDIT UNION'S INCOME TAX RETURNS PRIOR TO 2016 ARE CLOSED. MANAGEMENT DETERMINED THERE WERE NO MATERIAL UNCERTAIN POSITIONS TAKEN BY THE CREDIT UNION IN ITS TAX RETURNS. PART IV LINE 11F. INCOME TAXES AS A 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 CONSOLIDATED FINANCIAL STATEMENTS AS REQUIRED UNDER FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (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 POSITIONS TAKEN BY THE CREDIT UNION IN ITS TAX RETURNS. 1 X X 0 0 0 BARRY SHANER CEO 455961 0 60355 0 197 0 9528 0 1260 0 527301 0 0 0 JENNIFER HERNES SR MORTGAGE LOAN ORIGINATOR 284538 0 1206 0 197 0 7493 0 630 0 294064 0 0 0 BRIAN EPSTEIN CHIEF EXPERIENCE OFFICER 249658 0 16224 0 197 0 6201 0 1260 0 273540 0 0 0 JOHN USTASZEWSKI CHIEF FINANCIAL OFFICER 240283 0 24578 0 197 0 6185 0 1260 0 272503 0 0 0 SONJA DELANEY CHIEF STRATEGY OFFICER 223803 0 30079 0 197 0 5592 0 1260 0 260931 0 0 0 JONATHAN POLLOCK CHIEF RISK OFFICER 211874 0 24337 0 197 0 5299 0 630 0 242337 0 0 0 MATT GIES CHIEF TALENT OFFICER 198196 0 25028 0 197 0 4950 0 630 0 229001 0 0 0 JULIE LINCH SVP RETAIL OPS & PHYS PRESENCE 204618 0 13897 0 197 0 5277 0 630 0 224619 0 0 0 SCOTT SWAN SVP - LENDING 166241 0 15419 0 197 0 4125 0 105 0 186087 0 0 0 JOE SHARP BOARD MEMBER OF DIRECTIONS CREDIT UNION 127369 COO OF THREAD MARKETING, A VENDOR OF DIRECTIONS CREDIT UNION 0 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS A SINGLE CLASS OF MEMBERS WITH EQUAL RIGHTS OF OWNERSHIP, GOVERNANCE AND VOTING. FORM 990, PART VI, SECTION A, LINE 7A BOARD MEMBERS ARE ELECTED BY THE MEMBERS BY A SIMPLE PLURALITY VOTE FOR THREE YEAR TERMS ON A ROTATING BASIS. FORM 990, PART VI, SECTION A, LINE 7B MERGERS AND NAME CHANGES REQUIRE THE APPROVAL OF THE MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE CFO OF THE CREDIT UNION PRIOR TO FILING. COPIES ARE PROVIDED TO THE BOARD OF DIRECTORS FOR THIER REVIEW. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY IS INCLUDED IN THE EMPLOYEE HANDBOOK AND IS REQUIRED TO BE SIGNED BY NEW HIRES AND WHEN THERE'S A CHANGE IN THE POLICY. BOARD MEMBERS ARE REQUIRED TO DISCLOSE ANY KNOWN OR POTENTIAL CONFLICTS IN ADVANCE OF A TRANSACTION AND ARE REQUIRED TO SIGN AN ANNUAL DISCLOSURE. FORM 990, PART VI, SECTION B, LINE 15 CEO AND TOP MANAGEMENT POSITION'S COMPENSATION IS DETERMINED BY COMPARABILITY OF LIKE-SIZE CREDIT UNIONS. COMPENSATION IS ADJUSTED ANNUALLY TO COMPENSATE FOR COST OF LIVING AND PERFORMANCE OBJECTIVES THROUGH AN INTERNAL MATRIX PROGRAM AS DETERMINED AND APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 ALL POLICIES AND DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE 944,946. TFS MARKETING 5121 WHITEFORD ROAD SYLVANIA OH 43560 030520723 FINANCIAL SERVICES OH DIRECTIONS CREDIT UNION