2024-05-03T15:30:59-05:00 2023-12-31 910189318 MOSS ADAMS LLP 601 W RIVERSIDE AVENUE STE 1800 SPOKANE WA 99201 990 2023-01-01 626039479 EASTMAN CREDIT UNION EAST 4232298200 PO BOX 1989 KINGSPORT TN 37662 KELLY PRICE PRESIDENT, CHIEF EXECUTIVE OFFICER 4232298200 2024-05-03 1 KELLY PRICE 999009999 1 EMINA O CRESSWELL CPA P01217304 5097472600 2024-05-03 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z KELLY PRICE PO BOX 1989 KINGSPORT TN 37662 436383677 0 X WWW.ECU.ORG X 1934 TN OPERATED DURING 2023 AS A STATE CHARTERED CREDIT UNION WHOSE PURPOSE IS (CONTINUED ON SCHEDULE O) TO BE THE PREFERRED FINANCIAL INSTITUTION IN THE COMMUNITIES WE SERVE BY PROVIDING FINANCIAL PRODUCTS AND SERVICES WHICH ADD VALUE TO MEMBERS, GUIDED BY CREDIT UNION CO-OPERATIVE VALUES AND SERVICE EXCELLENCE EXPECTATIONS. 10 9 1039 9 771452 18140 0 0 321487147 395732615 20809898 40180959 172024 177184 342469069 436090758 924038 672355 0 0 79919005 86533262 0 0 0 126731937 196474478 207574980 283680095 134894089 152410663 7481805455 8017428459 6517628561 6906350677 964176894 1111077782 X OPERATED DURING 2023 AS A STATE CHARTERED CREDIT UNION WHOSE PURPOSE IS TO BE THE PREFERRED FINANCIAL INSTITUTION IN THE COMMUNITIES WE SERVE BY PROVIDING FINANCIAL PRODUCTS AND SERVICES WHICH ADD VALUE TO MEMBERS, GUIDED BY CREDIT UNION (CONTINUED ON SCHEDULE O) CO-OPERATIVE VALUES AND SERVICE EXCELLENCE EXPECTATIONS. 0 0 OPERATED DURING 2023 AS A STATE CHARTERED MUTUALLY OWNED CREDIT UNION THAT PROMOTED THRIFT BY MAINTAINING ACCOUNTS AND ISSUING SHARES RESULTING IN SUPERIOR VALUE. SERVED 324,672 MEMBERS WITH A VARIETY OF DEPOSIT PRODUCTS TOTALING $6,820,127,690. OPERATED DURING 2023 AS A STATE CHARTERED MUTUALLY OWNED CREDIT UNION THAT MADE LOANS TO ITS MEMBERS AT REASONABLE RATES OF INTEREST. MAINTAINED A LOAN PORTFOLIO COMPOSED OF CONSUMER, MORTGAGE, HOME EQUITY, VISA AND MEMBER BUSINESS LOANS THAT TOTALED $6,892,988,026. INVESTED ANY SURPLUS NOT REQUIRED FOR LOANS TO EXERCISE THOSE FUNCTIONS DESCRIBED IN THE LAW OF THE STATE OF TENNESSEE AUTHORIZING THE ORGANIZATION OF CREDIT UNIONS THEREBY FURNISHING OTHER COOPERATIVE FINANCIAL SERVICES TO MEMBERS. 0 0 1 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 524215 0 1 1039 1 1 1 0 0 0 0 0 1 0 X 10 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 1 1 X SCOTT DAVIS 4235787587 2021 MEADOWVIEW LANE KINGSPORT TN 37660 KELLY PRICE PRESIDENT/CEO, DIRECTOR 40.00 X X 1217681 0 119628 E WAYNE KIRK CHAIRMAN OF THE BOARD 5.00 X X 0 0 0 NORRIS SNEED VICE CHAIRMAN OF THE BOARD 5.00 X X 0 0 0 JENNIFER STEWART SECRETARY/TREASURER 2.00 X X 0 0 0 BRIAN K MILLER DIRECTOR 2.00 X 0 0 0 GARY BASS DIRECTOR 2.00 X 0 0 0 J ANDREW HATFIELD JR DIRECTOR 1.00 X 0 0 0 JEFF ANDERSON DIRECTOR 2.00 X 0 0 0 KYLE MACIONE DIRECTOR 2.00 X 0 0 0 KRISTIE J HAMMONDS DIRECTOR 1.00 X 0 0 0 JENNIFER WOLFE DIRECTOR (THRU 2/23) 1.00 X 0 0 0 MATT WIMBERLEY VP, CHIEF LEGAL OFFICER GENERAL COUNSEL 40.00 X 344561 0 55656 JEREMIAH LOUNDS VP, CHIEF OPERATING OFFICER 40.00 X 378077 0 55656 RUSSELL AYSCUE VP, CHIEF INFORMATION OFFICER 40.00 X 360234 0 56398 MARK MILLWOOD VP, CHIEF HUMAN RESOURCES OFFICER 40.00 X 328685 0 54886 DARRELL DINSMORE EVP, CHIEF ADMINISTRATIVE OFFICER 40.00 X 465747 0 76530 TONJA FISH EVP, CHIEF FINANCIAL OFFICER 40.00 X 489131 0 69933 DOLLY LINKOUS VP, CHIEF LENDING OFFICER 40.00 X 389330 0 61549 KEVIN HILL VP CHIEF BRAND OFFICER (THRU 6/23) 40.00 X 170337 0 37720 MATTHEW SMITH VP,CHIEF MARKETING ANALYTICS OFFICER 40.00 X 192920 0 41813 THOMAS KENNEDY VP, BUSINESS SERVICES 40.00 X 321213 0 61132 CHUCK PERRY VP, BRANCH OPERATIONS 40.00 X 259116 0 36811 JILL ALLEY REGIONAL DIRECTOR 40.00 X 232699 0 52166 CATHY BYERS FACILITIES STAFF ASSISTANT 40.00 X 215701 0 51291 MICHELLE CLARK DIRECTOR, INTERNAL AUDIT 40.00 X 214698 0 46801 OLAN JONES FORMER PRESIDENT/CEO 0.00 X 104931 0 0 5685061 0 877970 128 1 1 0 IDSCOM - INTELLIGENT DOCUMENT SOLUTIONS 747 E WHITCOMB AVENUE MADISON HEIGHTS MI 48071 STATEMENT PROCESSING/MAILING SERVICES 4022697 NCR CORPORATION 3095 SATELITE BOULEVARD BUILDING 80 DULUTH GA 30096 ONLINE BANKING/BILLPAY SERVICES 3086072 FISERV SOLUTIONS INC PO BOX 934057 ATLANTA GA 31193 SOFTWARE SOLUTIONS SERVICES 2382649 DIEBOLD INC PO BOX 643543 PITTSBURGH PA 15264 ATM/BRANCH MAINTENANCE SERVICES 1407168 WAYPOINT BUSINESS SOLUTIONS LLC 118 VINTAGE PARK BLVD W414 HOUSTON TX 77070 IT HARDWARE & EQUIPMENT/SERVER MAINT 1109458 93 LOAN INTEREST INCOME 522100 320114541 320114541 FEES AND CHARGES 522100 72673143 71901691 771452 OTHER INCOME 522100 2944931 2944931 395732615 40131711 40131711 177184 0 177184 177184 177184 342167 292919 49248 49248 49248 436090758 394961163 771452 40358143 672355 4966473 59169260 6357775 10853664 5186090 189652 118927 783566 3878994 12289246 12829094 5507715 253687 840005 112973305 6988240 428279 DEPOSIT & LENDING SVCS 24673768 PROVISION FOR LOAN LOSS 14720000 283680095 53477148 41331768 867917238 831112668 0 0 6302508646 6892988026 9980760 10816113 168215386 75418056 93631801 92797330 77636982 67105448 76652880 81277106 7481805455 8017428459 85577304 85049725 8637086 8626137 6423414171 6812674815 6517628561 6906350677 X 0 0 0 0 964176894 1111077782 964176894 1111077782 7481805455 8017428459 X 152410663 1703167 -7212942 X 0 1 X 1 0 12960 0 0 12960 12960 1 TENNESSEE CREDIT UNION LEAGUE PAC PO BOX 21550 CHATTANOOGA TN 37424 462728395 1250 0 CUNA NATIONAL ADVOCACY FUND 99 M STREET SE NO 300 WASHINGTON DC 20003 237065623 11710 0 PART I-A, LINE 1: EASTMAN CREDIT UNION CONTRIBUTED $1,250 TO THE TENNESSEE CREDIT UNION LEAGUE PAC. EASTMAN CREDIT UNION CONTRIBUTED $11,710 TO THE CUNA NATIONAL ADVOCACY FUND. 0 1 X 25602575 25602575 93800038 35802010 57998028 2295592 1933532 362060 45536791 37682514 7854277 980390 980390 92797330 STATE CHARTERED CREDIT UNION DEPOSITS 6811590205 LEASE LIABILITY 1084610 6812674815 X PART IV, LINE 2B: ECU MAINTAINS ESCROW ACCOUNTS ON THE LOANS IN THE MORTGAGE PORTFOLIO FOR PAYMENT OF PROPERTY TAXES AND HOMEOWNER'S INSURANCE. THE ACCOUNTS ARE TREATED AS OTHER DEPOSIT ACCOUNTS AND EARN INTEREST AT THE REGULAR SHARE ACCOUNT RATE AS LONG AS THE ESCROW BALANCE IS POSITIVE. AMOUNTS ARE DEPOSITED MONTHLY AND PAYMENTS ARE MADE AS NECESSARY DURING THE YEAR. ESCROWS ARE "TRUED" ONCE A YEAR TO PREVENT EXCESS OR CORRECT SHORT-FALLS. PART X, LINE 2: THE CREDIT UNION IS EXEMPT BY STATUTE FROM FEDERAL AND STATE INCOME TAXES ON INCOME RELATED TO ITS EXEMPT FUNCTION. FEDERAL INCOME TAX IS ASSESSED ON NET UNRELATED BUSINESS INCOME AS DEFINED BY THE INTERNAL REVENUE CODE. THE CREDIT UNION FILES AN EXEMPT ORGANIZATION AND UNRELATED BUSINESS INCOME TAX RETURN WITH THE FEDERAL JURISDICTION. ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES DEEMED TO BE UNRELATED TO THE CREDIT UNION'S NONTAXABLE STATUS IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S CONSOLIDATED FINANCIAL POSITION OR RESULTS OF OPERATIONS. FASB ASC 740-10, INCOME TAXES, REQUIRES RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS USING A "MORE-LIKELY-THAN-NOT" APPROACH. AS OF DECEMBER 31, 2023 AND 2022, THE CREDIT UNION DID NOT BELIEVE IT HAD ANY UNCERTAIN TAX POSITIONS THAT WOULD RISE TO THE LEVEL OF HAVING A MATERIAL EFFECT ON ITS CONSOLIDATED FINANCIAL STATEMENTS. THE CREDIT UNION RECORDS INTEREST AND PENALTIES RELATED TO TAX MATTERS IN TAX EXPENSES. 1 CITY OF KINGSPORT 415 BROAD STREET KINGSPORT TN 37660 626000323 SULLIVAN COUNTY 100500 0 PROJECT SPONSORSHIPS KINGSPORT AREA CHAMBER OF COMMERCE 400 CLINCHFIELD STREET SUITE 100 KINGSPORT TN 37660 620446834 501(C)(6) 41600 0 EVENT SPONSORSHIPS AND SCHOLARSHIP KINGSPORT CHAMBER FOUNDATION INC 400 CLINCHFIELD STREET SUITE 100 KINGSPORT TN 37660 581453565 501(C)(3) 31932 0 EVENT SPONSORSHIPS BARTER THEATRE PO BOX 867 ABINGDON VA 24212 546000120 501(C)(3) 28720 0 SPONSORSHIP LONGVIEW ARBORETUM AND NATURE CENTER 706 WEST COTTON STREET LONGVIEW TX 75604 461383538 501(C)(3) 27500 0 EVENT SPONSORSHIPS UNITED WAY OF GREATER KINGSPORT 301 LOUIS STREET SUITE 201 KINGSPORT TN 37660 620481461 501(C)(3) 25106 0 EVENT SPONSORSHIPS BIRTHPLACE OF COUNTRY MUSIC ALLIANCE PO BOX 1927 BRISTOL VA 24203 621580405 501(C)(3) 25000 0 EVENT SPONSORSHIPS GREAT TEXAS BALLOON RACE PO BOX 3988 LONGVIEW TX 75606 752378187 501(C)(3) 25000 0 EVENT SPONSORSHIP GREATER KINGSPORT FAMILY YMCA 1840 MEADOWVIEW PARKWAY KINGSPORT TN 37660 581564232 501(C)(3) 17000 0 GENERAL CONTRIBUTION UNITED WAY OF SOUTHWEST VIRGINIA POBOX 644 ABINGDON VA 24212 540718860 501(C)(3) 15500 0 EVENT SPONSORSHIP AND GENERAL CONTRIBUTION SALVATION ARMY OF GREATER KINGSPORT 505 DALE STREET KINGSPORT TN 37662 580660607 501(C)(3) 15000 0 GENERAL CONTRIBUTION UNITED WAY OF EAST TN HIGHLANDS 605 W WALNUT STREET SUITE 2 JOHNSON CITY TN 37604 626001105 501(C)(3) 15000 0 GENERAL CONTRIBUTION CHILDREN EXCEEDING EXPECTATIONS INC 156 VINES DRIVE JONESBOROUGH TN 37659 882297375 501(C)(3) 12000 0 EVENT SPONSORSHIP ARTSVIEW CHILDREN'S THEATRE 313 W TYLER STREET LONGVIEW TX 75601 651218275 501(C)(3) 10500 0 PROJECT SPONSOR AND EVENT SPONSOR MAKE-A-WISH FOUNDATION OF EAST TENNESSEE 6700 BAUM DRIVE SUITE 7 KNOXVILLE TN 37919 581799549 501(C)(3) 10000 0 GENERAL CONTRIBUTION PROVIDENCE MEDICAL CLINIC 441 CLAY STREET KINGSPORT TN 37660 264547646 501(C)(3) 10000 0 GENERAL CONTRIBUTION SYMPHONY OF THE MOUNTAINS 1200 E CENTER STREET/PO BOX 13 KINGSPORT TN 37660 620534228 501(C)(3) 10000 0 SPONSORSHIP BRISTOL CHAMBER OF COMMERCE 20 VOLUNTEER PARKWAY BRISTOL TN 37871 540150315 501(C)(6) 9850 0 EVENT SPONSORSHIPS YMCA OF BRISTOL 400 MARTIN LUTHER KING JR BLVD BRISTOL TN 37620 620521204 501(C)(3) 8334 0 CAPITAL CAMPAIGN COALITION FOR KIDS INC 2423 SUSANNAH STREET JOHNSON CITY TN 37601 621765487 501(C)(3) 7500 0 GENERAL CONTRIBUTION BOYS AND GIRLS CLUB OF ELIZABETHTONCARTER COUNTY 104 HUDSON DRIVE ELIZABETHTON TN 37643 620502737 501(C)(3) 7315 0 EVENT SPONSORSHIPS UNITED WAY OF BRISTOL TNVA PO BOX 696 BRISTOL TN 37621 620476656 501(C)(3) 7160 0 EVENT SPONSORSHIP AND GENERAL CONTRIBUTION UNITED WAY OF HAWKINS COUNTY 405 S ARMSTRONG RD SUITE B ROGERSVILLE TN 37857 620731420 501(C)(3) 7000 0 GENERAL CONTRIBUTION CITY OF ELIZABETHTON 136 SOUTH SYCAMORE STREET ELIZABETHTON TN 37643 626000283 CARTER COUNTY 6500 0 EVENT SPONSORSHIP HOPE (HELP OUR POTENTIAL EVOLVE) PO BOX 7632 KINGSPORT TN 37664 461500067 501(C)(3) 6500 0 ASSIST WITH OFFICE RENTAL EXPENSE YWCA NE TNSW VA 106 STATE STREET BRISTOL TN 37620 620488044 501(C)(3) 6500 0 GENERAL CONTRIBUTION 24 2 PART I, LINE 2: GRANTS WILL BE RESEARCHED BY THE ECU STAFF, APPROVED BY THE CEO/PRESIDENT AND REPORTED TO THE BOARD OF DIRECTORS ANNUALLY. ECU MAINTAINS RECORDS SUBSTANTIATING AMOUNTS PAID TO QUALIFYING ORGANIZATIONS AND CONFIRMS THE EXEMPT STATUS OF THE GRANTEE. ECU DOES NOT MONITOR THE FUNDS USE, AS USE OF FUNDS IS AT THE DISCRETION OF THE GRANTEE. X X 1 1 X X X X 0 0 0 KELLY PRICE PRESIDENT/CEO, DIRECTOR 756910 0 424125 0 36646 0 99800 0 19828 0 1337309 0 0 0 TONJA FISH EVP, CHIEF FINANCIAL OFFICER 370714 0 104038 0 14379 0 58800 0 11133 0 559064 0 0 0 DARRELL DINSMORE EVP, CHIEF ADMINISTRATIVE OFFICER 351519 0 101080 0 13148 0 56800 0 19730 0 542277 0 0 0 DOLLY LINKOUS VP, CHIEF LENDING OFFICER 296458 0 83862 0 9010 0 50800 0 10749 0 450879 0 0 0 JEREMIAH LOUNDS VP, CHIEF OPERATING OFFICER 292896 0 79788 0 5393 0 29874 0 25782 0 433733 0 0 0 RUSSELL AYSCUE VP, CHIEF INFORMATION OFFICER 277994 0 74256 0 7984 0 31916 0 24482 0 416632 0 0 0 MATT WIMBERLEY VP, CHIEF LEGAL OFFICER GENERAL COUN 264278 0 76878 0 3405 0 29874 0 25782 0 400217 0 0 0 MARK MILLWOOD VP, CHIEF HUMAN RESOURCES OFFICER 252134 0 71936 0 4615 0 31704 0 23182 0 383571 0 0 0 THOMAS KENNEDY VP, BUSINESS SERVICES 253479 0 61923 0 5811 0 34350 0 26782 0 382345 0 0 0 CHUCK PERRY VP, BRANCH OPERATIONS 206555 0 46977 0 5584 0 26062 0 10749 0 295927 0 0 0 JILL ALLEY REGIONAL DIRECTOR 160837 0 63560 0 8302 0 31088 0 21078 0 284865 0 0 0 CATHY BYERS FACILITIES STAFF ASSISTANT 175496 0 34316 0 5889 0 30213 0 21078 0 266992 0 0 0 MICHELLE CLARK DIRECTOR, INTERNAL AUDIT 177979 0 33205 0 3514 0 31923 0 14878 0 261499 0 0 0 MATTHEW SMITH VP,CHIEF MARKETING ANALYTICS OFFICER 165126 0 26794 0 1000 0 17331 0 24482 0 234733 0 0 0 KEVIN HILL VP CHIEF BRAND OFFICER (THRU 6/23) 91132 0 57701 0 21504 0 16201 0 21519 0 208057 0 0 0 OLAN JONES FORMER PRESIDENT/CEO 104931 0 0 0 0 0 0 0 0 0 104931 0 0 0 PART I, LINE 1A THE CREDIT UNION'S EXPENSE POLICY INCLUDES AN ACCOUNTABLE PLAN WHEREBY BUSINESS EXPENSES ARE PAID BY THE CREDIT UNION AND WHEREBY ANY PERMISSIBLE TRAVEL FOR COMPANIONS PERMITTED BY STATE AND FEDERAL CREDIT UNION REGULATIONS ARE INCLUDED AS INCOME TO THE OFFICIAL. FORM 990, PART VI, SECTION A, LINE 6 EASTMAN CREDIT UNION IS A MEMBER OWNED NON-PROFIT TAX EXEMPT CORPORATION IN WHICH EACH MEMBER OWNS AN EQUAL SHARE. FORM 990, PART VI, SECTION A, LINE 7A AT THE ANNUAL MEETING OF THE MEMBERS, EASTMAN CREDIT UNION'S MEMBERS ELECT INDIVIDUALS FROM THE CREDIT UNION'S MEMBERSHIP TO SERVE ON THE BOARD OF DIRECTORS FOR THREE YEAR TERMS. IN THE EVENT THERE IS A VACANCY ON THE BOARD, THE DIRECTORS MAY APPOINT AN INTERIM MEMBER TO SERVE OUT THE TERM OF THE VACANT BOARD POSITION. FORM 990, PART VI, SECTION A, LINE 7B EASTMAN CREDIT UNION'S MEMBERS HAVE THE RIGHT TO VOTE, ON A PER CAPITA BASIS, ON DISSOLUTION OF THE CREDIT UNION, MERGER WITH ANOTHER CREDIT UNION, EXPULSION OF A MEMBER, CONVERSION FROM A STATE TO A FEDERALLY CHARTERED CREDIT UNION, CONVERSION TO ANOTHER TYPE OF FINANCIAL INSTITUTION, OR TO OVERRULE A DECISION OF THE CREDIT UNION'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B EASTMAN CREDIT UNION'S FORM 990 IS PREPARED BY AN OUTSIDE CPA FIRM AND THEN REVIEWED BY ECU'S CEO, CFO, VP, CHIEF LEGAL OFFICER AND GENERAL COUNSEL, VP, CHIEF HUMAN RESOURCE OFFICER, AND CONTROLLER. A COMPLETE COPY OF THIS FORM 990 IS PROVIDED TO ALL MEMBERS OF THE ECU BOARD OF DIRECTORS BEFORE FILING THE FORM. FORM 990, PART VI, SECTION B, LINE 12C PRIOR TO EMPLOYMENT ALL EMPLOYEES AND OFFICERS OF EASTMAN CREDIT UNION ARE REQUIRED TO DISCLOSE ALL POTENTIAL CONFLICTS OF INTEREST AND MUST AGREE TO UPDATE THE DISCLOSURE IN THE EVENT ANY CONFLICTS ARISE SUBSEQUENT TO EMPLOYMENT. PRIOR TO SERVING ON THE BOARD OF DIRECTORS, ALL PROSPECTIVE BOARD MEMBERS ARE REQUIRED TO DISCLOSE ALL POTENTIAL CONFLICTS OF INTEREST. ALL EMPLOYEES AND MEMBERS OF THE BOARD OF DIRECTORS ARE ALSO REQUIRED TO COMPLETE AN UPDATED DISCLOSURE AT LEAST ANNUALLY. IT IS THE RESPONSIBILITY OF THE PRESIDENT OR CHAIR OF THE BOARD OF DIRECTORS TO DETERMINE THE RESOLUTION OF ALL ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. MEMBERS OF THE BOARD OF DIRECTORS DO NOT PARTICIPATE IN THE DELIBERATIONS OR VOTING ON MATTERS WHERE AN ACTUAL OR APPARENT CONFLICT OF INTEREST EXISTS. FORM 990, PART VI, SECTION B, LINE 15 EASTMAN CREDIT UNION ANNUALLY PARTICIPATES IN EXECUTIVE COMPENSATION SURVEYS OF REPUTABLE COMPENSATION CONSULTANTS BY PROVIDING CURRENT BASE AND TOTAL COMPENSATION INFORMATION OF THE ECU OFFICERS. THE CONSULTING GROUPS FOCUS ON COMPARATIVE COMPENSATION INFORMATION WITHIN THE CREDIT UNION INDUSTRY. AS A RESULT OF PARTICIPATION, ECU RECEIVES DATA COMPILATION REPORTS AND ANALYSES FROM THE STUDIES CONDUCTED BY THESE COMPENSATION EXPERTS. RANKING AND COMPARATIVE INFORMATION FOR EACH RELEVANT POSITION IS PROVIDED IN BOTH STUDIES. ECU STUDIES AND UTILIZES PEER GROUP INFORMATION RELATIVE TO ECU'S ASSET SIZE AS BENCHMARK DATA. EASTMAN CREDIT UNION WORKS WITH CONSULTANTS FROM EACH RESPECTIVE CONSULTING FIRM TO OBTAIN SPECIAL DATA CUTS, CLARIFYING INFORMATION, AND ADVICE REGARDING MATCHING OF ECU POSITIONS TO BENCHMARK JOBS, INDUSTRY AVERAGE INCREASE IN EXECUTIVE COMPENSATION, AND OTHER INFORMATION RELATED TO EXECUTIVE BASE AND TOTAL COMPENSATION FACTORS. THE VICE PRESIDENT OF HUMAN RESOURCES PROVIDES A RECAP OF COMPENSATION STUDY INFORMATION IN A PRESENTATION FORMAT DURING A MEETING OF THE COMPENSATION COMMITTEE (SUBCOMMITTEE OF THE ECU BOARD OF DIRECTORS). THE COMPENSATION COMMITTEE REVIEWS THE DATA AND DISCUSSES AND PRESENTS QUESTIONS RELATED TO THE INFORMATION PROVIDED. WHEN NECESSARY, THE VP, CHIEF HUMAN RESOURCE OFFICER WILL FOLLOW UP WITH COMPENSATION CONSULTANTS FOR ADDITIONAL INFORMATION TO BE PRESENTED FOR DISCUSSION AND CONSIDERATION. THE COMPENSATION COMMITTEE APPROVES AN AVERAGE SALARY INCREASE FOR THE CEO'S DIRECT REPORTS AND AUTHORIZES THE CEO TO AWARD INDIVIDUAL SALARY INCREASES ACCORDINGLY. FINAL AWARDS ARE DOCUMENTED AND SIGNED BY BOTH THE CEO AND THE CHAIR OF THE COMPENSATION COMMITTEE. THIS DOCUMENT IS SUBMITTED TO PAYROLL VIA THE VP, CHIEF HUMAN RESOURCE OFFICER. THE COMPENSATION COMMITTEE MEETS IN EXECUTIVE SESSION TO FURTHER CONSIDER COMPENSATION DATA FOR THE CEO. FINAL AWARD IS DOCUMENTED AND SIGNED AS APPROVED BY THE CHAIR OF THE COMPENSATION COMMITTEE. THIS DOCUMENT IS SUBMITTED TO PAYROLL VIA THE VP, CHIEF HUMAN RESOURCE OFFICER. ORIGINAL DOCUMENTS ARE MAINTAINED ON FILE IN THE HUMAN RESOURCES DEPARTMENT. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND OTHER RECORDS AND POLICIES OF ECU ARE NOT GENERALLY MADE AVAILABLE TO THE PUBLIC. ECU MEMBERS ARE ENTITLED TO INSPECT CERTAIN RECORDS OF THE CREDIT UNION AFTER COMPLYING WITH THE REQUIREMENTS OF STATE LAW. FINANCIAL INFORMATION IS PUBLISHED IN THE ANNUAL REPORT AND IS MADE AVAILABLE TO THE PUBLIC ON A QUARTERLY BASIS VIA NCUA'S WEBSITE. FORM 990, PART XI, LINE 9: NET DEFINED BENEFIT PENSION PLAN COST ADJUSTMENT 870,181. NET POST-RETIREMENT BENEFIT PLAN COST ADJUSTMENT 116,877. ASC 326 ADOPTED EXPECTED LOSS ADJUSTMENT -8,200,000. ECU TITLE SERVICES LLC 201 S WILCOX DR KINGSPORT TN 37660 464133177 TITLE AND ESCROW SERVICES TN -148715 3642063 EASTMAN CREDIT UNION