2024-11-15T09:14:18-06:00 2023-12-31 611064249 DEMING MALONE LIVESAY & OSTROFF PSC 9300 SHELBYVILLE ROAD SUITE 1100 LOUISVILLE KY 402225187 990 2023-01-01 616034178 SERVICE ONE CREDIT UNION INC SERV 8007598500 PO BOX 51770 BOWLING GREEN KY 421026770 JUSTIN MORRIS EXECUTIVE VICE PRESIDENT 8007598500 2024-11-14 1 0 MELINDA L HECK P01392306 5024269660 2024-11-14 2023 2024-10-15 13:58:12Z REBECCA STONE PO BOX 185 BOWLING GREEN KY 42102 19468487 0 X WWW.SOCU.COM X 1963 KY THE MISSION OF SERVICE ONE CREDIT UNION IS TO UNDERSTAND AND MEET OUR MEMBERS AND COMMUNITY'S NEEDS TO HELP THEM PROSPER. 7 7 91 12 17685 4905 0 0 8694960 12217533 768727 691337 3216088 3399528 12679775 16308398 72498 91552 0 0 4516770 4876652 0 0 0 7029129 10900086 11618397 15868290 1061378 440108 282394544 274632565 261411601 253426300 20982943 21206265 THE MISSION OF SERVICE ONE CREDIT UNION IS TO UNDERSTAND AND MEET OUR MEMBERS AND COMMUNITY'S NEEDS TO HELP THEM PROSPER. 0 0 SERVICE ONE CREDIT UNION PROVIDES SAVINGS AND LENDING SERVICES AND PRODUCTS TO ITS FIELD OF MEMBERSHIP. 0 0 0 0 0 0 0 1 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 4708 0 1 91 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X JUSTIN MORRIS 2705990469 PO BOX 51770 BOWLING GREEN KY 421026770 CHRIS GEORGE DIRECTOR 1.00 X 0 0 0 JAMES MCCASLIN CHAIR 1.00 X X 0 0 0 HAROLD LITTLE SECRETARY/TREASURER 1.00 X X 0 0 0 RICHARD L MILLER DIRECTOR 1.00 X 0 0 0 BROOKE JUSTICE DIRECTOR 1.00 X 0 0 0 BRENDA WILLOUGHBY DIRECTOR 1.00 X 0 0 0 PAT STEWART VICE-CHAIR 1.00 X X 0 0 0 REBECCA STONE PRESIDENT AND CEO 40.00 X 182012 0 96135 MARK FLOYD VP CHIEF LENDING OFFICER 40.00 X 109896 0 22107 MICHELLE DYER SVP/CHIEF OPERATING OFFICE 40.00 X 118649 0 13097 JUSTIN MORRIS EVP CHIEF FINANCIAL OFFICE 40.00 X 133975 0 14771 BRAD BROWN VP ENTERPRISE RISK MGMT 40.00 X 92905 0 13226 ROB HERRINGTON SVP/CHIEF TECHNOLOGY OFFIC 40.00 X 115428 0 14171 752865 0 173507 5 0 1 0 BECKS CONTRACT CLEANING C/O ANNA ELLIS 1794 PILOT KNOB RD AUBURN KY 42206 CLEANING SERVICES 175560 1 INTEREST INCOME ON LOANS TO MEMBE 522291 12217533 12217533 12217533 911442 911442 6600 0 6600 6600 6600 2775750 164234 2962628 197461 -186878 -33227 -220105 -220105 VISA CHECK FEES 522100 1396457 1396457 NSF AND ODP FEES 522100 1334224 1334224 NON-INTEREST INCOME 522100 575403 575403 86844 69159 17685 3392928 16308398 15379271 17685 911442 91552 926372 3206093 77128 370997 296062 123283 68847 221040 296205 304363 496991 164854 4196740 311638 83873 OTHER EXPENSES 2690809 PROVISION FOR LOAN AND 712059 DEBIT CARD OPERATIONS 677630 CREDIT CARD OPERATIONS 405562 146192 15868290 2076012 1767089 14605975 9894539 435910 745741 228436319 225463038 1065600 1191590 12408140 5958586 6403039 6449554 17598679 16950058 1277040 1246540 10495970 10924416 282394544 274632565 1773535 1550407 395023 265972 23275000 33256000 235968043 218353921 261411601 253426300 X 0 0 2207162 2207162 18775781 18999103 20982943 21206265 282394544 274632565 440108 -216786 0 X 0 0 0 0 1 X 2685091 2685091 6270214 3131137 3139077 3452835 2827449 625386 6449554 CERTIFICATES OF DEPOSIT>1 YEAR IN MATURITY 1683590 F INVESTMENT IN CORPORATE CREDIT UNIONS 900000 C FHLB STOCK 1421000 C CHARITABLE DONATION INVESTMENTS 906426 C MBS BONDS 7071968 F GOVERNMENT AGENCY BONDS 4967074 F 16950058 MEMBER SHARE DEPOSITS 81964160 MEMBER SHARE DRAFTS 63963598 MEMBER SHARE CERTIFICATES 60487163 NON MEMBER DEPOSITS 11939000 218353921 PART IV, LINE 2B: THE CREDIT UNION COLLECTS FUNDS FROM ITS MORTGAGE LOAN BORROWERS AND HOLDS THE FUNDS IN ESCROW TO PAY THE BORROWERS REAL ESTATE TAXES AND PROPERTY INSURANCE PREMIUMS. 1 SOUTHCENTRAL KENTUCKY COMMUNITY & TECHNICAL COLLEGE 1845 LOOP DR BOWLING GREEN KY 42101 020738080 501(C)(3) 0 15000 CASH DONATION - FMV TO PROVIDE A SPONSORSHIP AND SCHOLARSHIP SUPPORT CITY OF SCOTTSVILLE 201 W MAIN ST SCOTTSVILLE KY 42164 616001907 0 5300 CASH DONATION - FMV TO PROVIDE A SPONSORSHIP AND SCHOLARSHIP SUPPORT CENTER FOR COURAGE AND RENEWAL 2435 E NORTH ST STE 1108-111 GREENVILLE SC 29615 331023228 501(C)(3) 0 11500 CASH DONATION - FMV TO PROVIDE A SPONSORSHIP AND SCHOLARSHIP SUPPORT BLUEGRASS INTERNATIONAL FESTIVAL PO BOX 50996 BOWLING GREEN KY 42102 611225815 501(C)(3) 0 15000 CASH DONATION - FMV TO PROVIDE A SPONSORSHIP AND SCHOLARSHIP SUPPORT ARTS OF SOUTHERN KENTUCKY FOUNDATION PO BOX 748 BOWLING GREEN KY 42102 462490092 501(C)(3) 0 12500 CASH DONATION - FMV TO PROVIDE A SPONSORSHIP AND SCHOLARSHIP SUPPORT 5 PART I, LINE 2: THE CREDIT UNION DOES NOT MONITOR THE USE OF GRANT FUNDS ONCE THEY HAVE BEEN PROVIDED. PART I, LINE 2 X 0 1 0 REBECCA STONE PRESIDENT AND CEO 182012 0 0 0 0 0 86987 0 9148 0 278147 0 0 0 PART I, LINE 4B REBECCA STONE - $81,081 JOSEPH P STEWART BOARD MEMBER AUTO LOAN X 29550 18979 0 1 1 JOSEPH P STEWART BOARD MEMBER RECREATIONAL VEHCILE X 31818 0 1 1 JOSEPH P STEWART BOARD MEMBER CREDIT CARD X 0 28 0 1 1 JOSEPH P STEWART BOARD MEMBER RESIDENTIAL MORTGAGE X 65000 31465 0 1 1 HAROLD LITTLE JR BOARD MEMBER AUTO LOAN X 35030 6108 0 1 1 BRAD BROWN VICE PRESIDENT OF ENTERPRISE RISK MANAGEMENT AUTO LOAN X 48296 0 1 1 BRAD BROWN VICE PRESIDENT OF ENTERPRISE RISK MANAGEMENT MORTGAGE X 160000 128114 0 1 1 ROBERT HERRINGTON SVP / CHIEF TECHNOLOGY OFFICER AUTO LOAN X 20267 8685 0 1 1 ROBERT HERRINGTON SVP / CHIEF TECHNOLOGY OFFICER AUTO LOAN X 39622 22510 0 1 1 ROBERT HERRINGTON SVP / CHIEF TECHNOLOGY OFFICER HELOC X 98862 0 1 1 ROBERT HERRINGTON SVP / CHIEF TECHNOLOGY OFFICER RECREATIONAL VEHCILE X 66561 0 1 1 REBECCA STONE CEO MORTGAGE X 238420 0 1 1 JAMES MCCASLIN BOARD MEMBER HELOC X 45895 0 1 1 745741 FORM 990, PART VI, SECTION A, LINE 6 SERVICE ONE CREDIT UNION IS A NONPROFIT COOPERATIVE ORGANIZED UNDER THE LAWS OF THE STATE OF KENTUCKY AND HAD APPROXIMATELY 16,658 MEMBERS AS OF DECEMBER 2023. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER OF THE BOARD OF DIRECTORS IS NOMINATED FOR ELECTION TO A THREE YEAR TERM BY THE MEMBERS PRESENT AT THE ANNUAL MEETING HELD IN APRIL OF EACH YEAR. FORM 990, PART VI, SECTION A, LINE 7B ANY MEMBER OF THE CREDIT UNION MAY ATTEND THE ANNUAL MEMBERS MEETING TO PRESENT ANY ITEM OF BUSINESS FOR CONSIDERATION FOR THE ENTIRE MEMBERSHIP INCLUDING A VOTE TO REVERSE PRIOR DECISIONS MADE BY THE GOVERNING BODY UPON OBTAINING A MAJORITY VOTE TO DO SO. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT PDF COPY OF THE FORM 990 IS EMAILED TO THE PRESIDENT/CEO TO REVIEW PRIOR TO FILING THE 990. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS AND DIRECTORS OF THE CREDIT UNION ARE REQUIRED ANNUALLY TO DISCLOSE IN WRITING ON FORMS THAT THEY ARE NOT ENGAGED IN ANY RELATIONSHIPS CONSTITUTING A CONFLICT OF INTEREST WITH THE CREDIT UNION'S BUSINESS, WHICH FORMS ARE MAINTAINED WITH HUMAN RESOURCES, AND ARE MONITORED ON AN ONGOING BASIS BY THE SECURITY OFFICER. IF AND WHEN A CONFLICT DOES ARISE IT IS BROUGHT TO THE ATTENTION OF THE CEO AND BOARD OF DIRECTORS. THE SECURITY OFFICER BRINGS THE EXCEPTIONS TO THE ATTENTION OF STATE AND FEDERAL EXAMINERS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS EVALUATES THE PERFORMANCE AND SALARY OF THE CEO ANNUALLY. THE BOARD ASSESSES THE PERFORMANCE AGAINST TARGETS ESTABLISHED IN THE PREVIOUS YEAR TO DETERMINE THE EXTENT TO WHICH GOALS WERE MET. FOR OTHER MANAGEMENT EMPLOYEES THE CREDIT UNION USES THE SERVICES OF AN EMPLOYMENT SPECIALIST TO DETERMINE PAY RANGES FOR EACH JOB POSITION. ANNUAL PERFORMANCE REVIEWS ARE CONDUCTED BY SUPERVISORS OF EACH EMPLOYEE TO DETERMINE THE EXTENT TO WHICH GOALS HAVE BEEN MET. FORM 990, PART VI, SECTION C, LINE 19 FORM 990 AND THE CREDIT UNION'S INTERNALLY PREPARED FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST AS ARE ALL OTHER PUBLICLY AVAILABLE DOCUMENTS.