2024-11-15T15:42:58-06:00 2023-12-31 202122306 GBQ PARTNERS LLC 4030 SMITH ROAD SUITE 400 CINCINNATI OH 45209 990 2023-01-01 340835673 1129 FALLS CATHOLIC CREDIT UNION 1129 3309297341 33 GRAHAM ROAD CUYAHOGA FALLS OH 44223 MATTHEW MECURIO PRESIDENT/CEO 3309297341 2024-11-07 1 1 KATHY M MOSELEY P00116760 5138713033 2024-11-07 2023 2024-10-15 13:58:12Z MATTHEW MECURIO 33 GRAHAM ROAD CUYAHOGA FALLS OH 44223 2974977 0 X WWW.FALLSCCU.ORG X 1957 OH POOL MEMBER FINANCIAL RESOURCES IN ORDER TO PROVIDE FUNDS FOR LOANS AND VARIOUS FINANCIAL SERVICES WHICH ARE AVAILABLE TO ANYONE WITHIN THE MEMBERSHIP BASE. FALLS CATHOLIC CREDIT UNION IS DEDICATED TO BEING THE PRIMARY FINANCIAL INSTITUTION FOR THE MEMBERSHIP BY PROVIDING A FULL RANGE OF FINANCIAL SERVICES WHILE MAINTAINING CUSTOMER SATISFACTION, GROWTH AND STABILITY. 7 7 10 7 0 0 0 0 1719769 2170162 346204 804815 0 0 2065973 2974977 0 0 95580 367532 704202 787737 0 0 0 831392 1118228 1631174 2273497 434799 701480 54602519 53212711 46419122 44450669 8183397 8762042 X POOL MEMBER FINANCIAL RESOURCES IN ORDER TO PROVIDE FUNDS FOR LOANS AND VARIOUS FINANCIAL SERVICES WHICH ARE AVAILABLE TO ANYONE WITHIN THE MEMBERSHIP BASE. FALLS CATHOLIC CREDIT UNION IS DEDICATED TO BEING THE PRIMARY FINANCIAL INSTITUTION FOR THE MEMBERSHIP BY PROVIDING A FULL RANGE OF FINANCIAL SERVICES WHILE MAINTAINING CUSTOMER SATISFACTION, GROWTH AND STABILITY. 1 0 OUR PRIMARY SERVICE IS LENDING AND THE REVENUE THAT WE RECEIVE IS IN THE FORM OF INTEREST AND FEES ON LOANS. THE FUNDS THAT WE LOAN OUT ARE THOSE THAT HAVE BEEN DEPOSITED BY OUR MEMBERS SO THE EXPENSES--THE COST OF THESE FUNDS--ARE THE DIVIDENDS THAT WE PAY ON THESE DEPOSITS PLUS ANY INTEREST THAT WE PAY ON FUNDS THAT WE NEED TO BORROW. WE ALSO OFFER SHARE DRAFT-CHECKING ACCOUNT WITH ATM CARDS AND MASTERCARD DEBIT CARDS. WE RECEIVE REVENUE FROM THE MEMBERS BY PROVIDING THESE SERVICES-- AND INCUR COSTS AS WELL. WE ALSO DERIVE INCOME FROM FEES RELATED TO THE FINANCIAL SERVICES WE OFFER OUR MEMBERS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 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 1 929 0 1 10 1 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X X FALLS CATHOLIC CREDIT UNION 3309297341 33 GRAHAM ROAD CUYAHOGA FALLS OH 44223 TERRENCE STEEL SECRETARY 1.00 X X 0 0 0 MICHAEL BURNS CHAIRMAN 1.00 X X 775 0 0 NICHOLAS HILL BOARD MEMBER 1.00 X X 925 0 0 ABRAHAM BRANNAN BOARD MEMBER 1.00 X 600 0 0 SUE FIGLER BOARD MEMBER 1.00 X 650 0 0 SEAN WILSON VICE CHAIRMAN 1.00 X 675 0 0 OLIVIA BLATT BOARD MEMBER 1.00 X 0 0 0 TERRI STOTT VICE PRESIDENT 40.00 X 73123 0 0 BILL LAMBACHER COMPTROLLER 40.00 X 72179 0 0 MATTHEW MECURIO PRESIDENT/CEO 40.00 X 126260 0 0 275187 0 0 1 0 0 0 0 LOAN INTEREST INCOME 522100 1792539 1792539 DEPOSIT-RELATED INCOME 522100 187881 187881 LENDING-RELATED INCOME 522100 106554 106554 CARD INCOME 522100 73209 73209 OTHER INCOME 522100 9979 9979 2170162 804815 804815 2974977 2170162 0 804815 367532 275187 299955 28927 141933 41735 5804 45914 1551 6522 85112 122866 89215 38601 28749 BANK CHARGES AND PROCES 362530 PROVISION FOR LOAN LOSS 152056 LOAN PROCESSING 91449 OTHER 67020 20839 2273497 402358 448498 9559415 6154911 30332411 31036069 1851961 1037031 853530 814930 12580726 13866127 874079 892176 54602519 53212711 257887 344507 46161235 44106162 46419122 44450669 X 0 0 0 0 8183397 8762042 8183397 8762042 54602519 53212711 X 701480 77049 -199884 X 0 1 X 1 0 215757 215757 1327576 734693 592883 308628 302338 6290 814930 NEGOTIABLE CD'S 5869960 F NON-NEGOTIABLE CD'S 7996167 C 13866127 MEMBERS' SHARE ACCOUNTS 44106162 44106162 X 2974977 0 2974977 0 2974977 2273497 0 2273497 0 2273497 PART X, LINE 2: THE CREDIT UNION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ITS FINANCIAL STATEMENTS AS REQUIRED UNDER FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC), ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE STANDARD PRESCRIBES A RECOGNTION THRESHOLD AND MEASUREMENT ATTRIBUTES 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, DISCLOURE AND TRANSITION ACCOUNTING. MANAGEMENT DETERMINED THERE WERE NO MATERIAL UNCERTAIN POSITIONS TAKEN BY THE CREDIT UNION IN ITS TAX RETURNS. FORM 990, PART III, LINE 2 WE ARE PART OF A PROFESSIONAL EMPLOYEMENT GROUP PEO THROUGH GMS. FORM 990, PART VI, SECTION A, LINE 6 ACCOUNT HOLDERS ARE MEMBERS OF THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A BOARD OF DIRECTORS IS NOMINATED AND VOTED ON BY THE CREDIT UNION'S MEMBERSHIP ANNUALLY. TERMS ARE SET FOR 3 YEARS FOR EACH DIRECTOR AND ARE LADDERED SO THAT TERMS DO NOT ALL EXPIRE IN THE SAME YEAR. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO THE BYLAWS MUST BE APPROVED BY THE MEMBERSHIP AFTER THE APPROVAL BY THE BOARD OF DIRECTORS AND THE STATE DIVISION OF CREDIT UNIONS. FORM 990, PART VI, SECTION B, LINE 11B CU UTILIZES A THIRD PARTY CPA TO ASSIST IN THE PREPARATION AND THEN PERFORMS A FINAL REVIEW UPON COMPLETION TO ENSURE ACCURACY. FORM 990, PART VI, SECTION B, LINE 12C THERE IS A CODE OF CONDUCT AFFIRMATION FORM THAT IS FILLED IN ANNUALLY BY EACH MEMBER AND OFFICER OF THE BOARD OF DIRECTORS. STAFF IS ALSO REQUIRED TO FILL IN A FORM. ALL FORMS ARE KEPT ON FILE IN THE MAIN OFFICE OF THE CREDIT UNION. COMPLIANCE WITH OUR CONFLICT OF INTEREST POLICY IS MONITORED ANNUALLY BY THE ACCOUNTING FIRM GBQ PARTNERS, AMERICAN SHARE INSURANCE AND THE OHIO DIVISION OF FINANCIAL INSTITUTIONS. FORM 990, PART VI, SECTION B, LINE 15 CEO AND KEY EMPLOYEE COMPENSATION IS REVIEWED BY THE COMPLENSATION COMMITTEE. PERIODICALLY THE CREDIT UNION WILL OBTAIN AN INDEPENDENT INDUSTRY SPECIFIC SALARY SURVEY TO AID IN THE EVALUATION OF SALARY LEVELS. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S CURRENT FINANCIAL STATEMENTS ARE ON DISPLAY IN THE OFFICE LOBBY. ANY ADDITIONAL DOCUMENTS MAY BE VIEWED AT OUR MAIN OFFICE BY APPOINTMENT. GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE -199,884.