2024-05-04T12:51:17-07:00 2023-12-31 311364689 Schmidt & Associates P O Box 2588 Columbus OH 43216 990 2023-01-01 344360015 55 BAY AREA CREDIT UNION INC 55BA 4196982962 4202 Navarre Avenue Oregon OH 43616 Jennifer Tober Chief Executive Officer 4196982962 2024-05-06 1 Jennifer Tober 999009999 1 Melissa Schmidt P01607816 6145291640 2024-03-30 1 11 0 AAL2 2023 2023-04-26 12:10:37Z Jennifer Tober 4202 Navarre Avenue Oregon OH 43616 4815421 0 X bayareacu.com X 1934 OH Bay Area Credit Union, Inc. is a financial institution cooperative organized to provide loan and deposit products and services to the member owners. 7 6 26 6 1210 0 0 0 3331315 4362501 320599 452920 0 0 3651914 4815421 0 0 0 0 1693537 1781036 0 0 0 1682377 2184385 3375914 3965421 276000 850000 80010962 78735648 70347237 68235134 9663725 10500514 The mission of Bay Area Credit Union, Inc. is to be personally committed to delivering financial solutions. 0 0 3206076 0 4814211 The organization is a state chartered member owned cooperative credit union that provides financial products and services to the member owners. 0 0 0 3206076 0 0 0 0 0 0 0 0 0 1 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 912 0 1 26 1 1 1 0 0 0 0 0 0 0 X 7 6 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Jennifer Tober 4196982962 4202 Navarre Avenue Oregon OH 43616 Jennifer Tober Chief Executive Officer / Director 40 0 X X X 572228 0 98900 Michael Jaksetic Chairman of the Board 1 0 X 0 0 0 Daniel Meisner Vice Chairman of the Board 1 0 X 0 0 0 Kyle McDaniel Treasurer of the Board 1 0 X 0 0 0 Dawn Bassitt Secretary of the Board 1 0 X 0 0 0 Barry Ramlow Director 1 0 X 0 0 0 Dave Martin Director 1 0 X 0 0 0 572228 0 98900 1 0 1 0 0 0 Interest on loans to members 522130 2489828 2489828 0 0 Fees to members 522130 1871463 1871463 0 0 ATM surcharges to nonmembers 522130 1210 0 1210 0 0 0 0 0 4362501 452920 452920 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4815421 4814211 1210 0 0 0 0 0 0 0 0 0 172228 0 172228 0 0 0 0 0 1078377 805660 272717 0 92743 53308 39435 0 333481 173766 159715 0 104207 67301 36906 0 19559 0 19559 0 10304 10304 0 0 19284 0 19284 0 0 0 0 0 0 0 0 0 0 0 9735 9735 0 0 125018 125018 0 0 119946 119946 0 0 194926 194926 0 0 0 0 0 0 110803 88642 22161 0 0 0 0 0 0 0 0 0 41038 41038 0 0 552772 552772 0 0 0 0 0 0 106016 106016 0 0 28521 28521 0 0 Share servicing (Debit, draft) 446396 446396 0 0 Loan servicing (dealer fees, credit card, collection) 382727 382727 0 0 Regulators 17340 0 17340 0 3965421 3206076 759345 0 327528 294072 -125321 2762141 0 0 0 0 0 0 0 0 46767284 46580833 0 0 156744 207344 3226786 1599362 1828746 1627424 0 0 0 0 23810619 19618112 0 0 7245362 7645722 80010962 78735648 546312 80223 0 0 0 0 0 0 0 0 0 0 586000 0 0 0 69214925 68154911 70347237 68235134 X 0 0 0 0 9663725 10500514 9663725 10500514 80010962 78735648 X 850000 0 0 0 0 -13211 X 0 1 1 0 0 675000 675000 0 1778444 1127086 651358 0 0 0 0 0 773342 472276 301066 0 0 0 0 1627424 Insured certificates of deposit 18580000 C Federal agency securities 250000 C Stock in Federal Home Loan Bank 80300 C Debenture to CU*Answers 60000 C Funds in Central Liquidity Facility 203770 C Ownership in corporate credit union 444042 C 19618112 Credit Union Owned Life Insurance 6601410 National Credit Union Share Insurance Fund deposit 689271 Accrued income 172651 Other assets 182390 7645722 0 Members share savings 31932551 Members money market savings 8502965 Members draft checking 11483268 Members IRA savings 794659 Members IRA certificates 3320886 Members share certificates 12120582 68154911 4815421 0 0 0 0 0 4815421 0 0 0 4815421 3965421 0 0 0 0 0 3965421 0 0 0 3965421 X X 0 1 0 Jennifer Tober Chief Executive Officer / Director 145387 0 12449 0 414391 0 64427 0 34472 0 671126 0 Schedule J, Part I, Line 4 The Chief Executive Officer is a participant in a written deferred compensation program approved by the Board of Directors and backed by credit union owned life insurance. $64,427 was added to the plan in 2023 and a $400,000 distribution was paid in 2023. Exempt - credit union Director X 1 1 0 1 1 1 Form 990, Part VI, Section A, Line 6 All credit unions by charter are member owned. Form 990, Part VI, Section A, Line 7a All of the governing body is elected by the membership. Form 990, Part VI, Section B, Line 11b The 990 is reviewed by management and the Board of Directors prior to submission. Form 990, Part VI, Section B, Line 12c The conflict of interest policy is reviewed by the employees and the Board of Directors annually. Form 990, Part VI, Section B, Line 15 Compensation of key employees is approved by the Board of Directors. Independent compensation surveys are utilized as a tool in setting compensation levels. Form 990, Part VI, Section C, Line 19 The governing documents, conflict of interest policy, and financial documents are made available upon request. Form 990, Part XI, Line 9 Other changes in net fund balances was the result of a change in accounting policies to adopt FASB Accounting Standards Update 2019-10 Topic 326 Financial Instruments - Credit Losses utilizing the Current Expected Losses methodology. This change in accounting policy resulted in a $144,527 decrease in fund balances. In addition, there was a $131,316 increase in fund balance as a result of market value change on pension fund assets.