2024-04-29T15:22:07-07:00 2023-12-31 990 2023-01-01 740695417 U S EMPLOYEES CREDIT UNION USEM 7135953400 24909 Kuykendahl Rd Tomball TX 77375 Marina Izvekova VP of Accounting 7135953316 2024-04-29 Marina Izvekova 999009999 1 1 11 0 AAL2 2023 2023-04-26 12:10:37Z USE Credit Union Sandra Childers 24909 Kuykendahl Rd Tomball TX 77375 3694785 0 2742 X www.usecuweb.com X 1933 TX USE Credit Union is a cooperative thrift financial institution and is a State Chartered Credit Union in the State of Texas. USE Credit Union is insured by the National Credit Union Administration. USE Credit Union offers competitive financial products and services to members. USE Credit Union's mission is to encourage members' personal sucess through exceptional financial services. 7 7 29 7 9404 9404 0 0 2515486 2708535 650017 986250 0 0 3165503 3694785 0 0 0 0 1269923 1362916 0 0 0 1815285 2121764 3085208 3484680 80295 210105 94764946 89351225 87569203 82025586 7195743 7325639 USE Credit Union's Mission is to encourage members' personal sucess through exceptional financial services. USE Credit Union offers competive deposit and loan rates to members, offering a cooperative approach to banking. 0 0 233304 248115 Share Saving Accounts, USE Credit Union offers many different types of share savings accounts that pay our members competitive dividend tares. There are accounts that fit the needs of consumers of all ages from youth saving account that teach young people the importance of savings and how to make wise purchasing choices to IRA share and certificates accounts for mature members, members have access to personal finance tools provided by the Credit Union to help them make good financial decisions. 440221 468167 Checking Accounts, USE Credit union offers a checking product for whatever a member's financial needs are. We offer free checking, a dividend checking, and even a second chance checking account for those members who have been denied service at retail banks. Member can access their funds at one of our two branch locations, at any shared service center locations, online or with a no fee MC debit card. 1864486 1982848 Consumer Loan, USE Credit Union provides a wide range of loan products to our members. We offer lower rates than most retail banks in the area for a comparable product. Our goal is to offer affordable options to our members all while providing outstanding customer service. We provide credit counseling to our members and offer alternatives to preditory lenders or payday loans 927377 986250 Other CU programs including investments 927377 0 986250 3465388 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 764 0 1 29 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 0 1 0 1 1 1 0 X Sandra childers 7135953400 24909 Kuykendahl Rd Tomball TX 77375 Sandra Childers CEO 40 0 X 103334 0 24134 Deborah K Gonzalez VP Operations 40 0 X 105008 0 10757 Marina Izvekova VP of Accounting 40 0 X 89172 0 25732 Troy Conner Director 1 0 X 0 0 0 Clarence Brooks Chairman 1 0 X 0 0 0 Pamela Edwards Director 1 0 X 0 0 0 Mike Foster Vice Chairman 1 0 X 0 0 0 Charles Konikoff Secretary / Treasurer 1 0 X 0 0 0 Gerald Bunn Director 1 0 X 0 0 0 Linda Corbin Director 1 0 X 0 0 0 297514 0 60623 2 0 0 0 Fiserv Solutions LLC 255 Fiserv Drive Brookfield WI 53045 Core System for shares, loans and debit cards 321303 DataVox Inc 6650 W Sam Houston Parkway S Houston TX 77072 Software, hardware, IT services and management 122364 2 0 Interest on Loans 522130 1864730 1864730 0 0 Member Fees and charges 522130 487535 487535 0 0 Loan Fee Income 522130 118119 118119 0 0 Plastic Card Interchange Income 522130 223645 223645 0 0 Other Misc. Income 522130 14506 5102 9404 0 0 0 0 0 2708535 986250 986250 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3694785 3685381 9404 0 X 297513 0 814299 75811 98381 76912 9966 31700 17292 399983 38212 423407 268415 0 272693 814 0 6517 312082 0 57235 50330 Provision for Credit Losses (loans and overdrafts) 191023 Other misc. operating expenses 42082 13 3484680 0 0 0 735354 654445 14703640 18475281 20395 174594 0 0 0 0 43861101 41208578 0 0 163902 185932 4290920 1373984 2981475 2916936 3021824 2712142 28096787 21816044 1180468 1207273 94764946 89351225 875339 847164 1792 2203 86692072 81176219 87569203 82025586 X 0 0 0 0 7195743 7325639 7195743 7325639 94764946 89351225 X 210105 0 0 0 0 -80209 X 0 1 X 1 0 922971 0 922971 2491132 0 737962 1753170 37798 0 37798 0 730575 0 598224 132351 108444 0 0 108444 2916936 Corporate FCU Shares 191665 C CD Investments in Commercial Banks greater then 1 year 20263000 C CUSO Investment 1361379 F 21816044 Accrued Interest on Loans 118110 Accrued Interest on Investment 103506 Other Misc.Accrual 4029 NCUS Insurance Funds 823944 Required Operational Deposits (Debt, Credit Cards Proc.) 136988 Assets Held for Sale (REPO Auto) 20696 1207273 Share Deposit Accounts 42910509 Share Draft Deposit accounts 20182018 Money Market Accounts 2979140 Certificate Accounts 11690608 IRA Accounts 1152640 IRA Certificate Accounts 2261304 81176219 Form 990, Part VI, Section A, Line 6 The Credit Union has member owners. Form 990, Part VI, Section A, Line 7a The Credit Union members nominate directors which are then elected to terms of service at the annual meeting. Form 990, Part VI, Section A, Line 7b Decisions to merge the Credit Union or discontinue business must be ratified by membership. Form 990, Part VI, Section B, Line 11b The accounting department is responsible for the preparation of return. It is then reviewed by CEO and VP of Operations. Then return filed, and a copy is available at the main office location for review by the Board of Directors, auditors, examiners, or the membership of the Credit Union. Form 990, Part VI, Section B, Line 12c As a part of directors policy and current employee code of conduct policy, all directors, officers and employees are prohibited from activity which could be construes as a conflict of interest which the business of the credit union. The organization is so small that it is not difficult to monitor apparent behaviors such as second job or suspicious account activity. Form 990, Part VI, Section B, Line 15 The Board of directors is responsible for making the salary decisions for the CEO. The Board appoints a compensation committee which uses industry compensation surveys to make the salary recommendations to the Board. The CEO then uses the same surveys as a tool to make Credit Union officers salary ranges. Form 990, Part VI, Section C, Line 19 Governing Documents, Financial Statements, and Conflict of Interest Policies are available to members upon request at main office located in Tomball, TX. Form 990, Part IX, Line 11g Other fees and services include: loan servicing expenses for $183,180, armed guard expenses for $79,580, shared branch expenses for $55,319, and other professional services for $81,904. Form 990, Part XI, Line 9 Per NCUA instructions, one-time adjustment to the capital for the amount of $80,208.73 was done due to implementation of CECL (Current Expected Credit Losses), funds have been used to bring Account for Credit Losses to required amount in accordance with adopted methodology.