2024-09-18T13:42:27+00:00 2023-12-31 990 2023-01-01 920021481 Credit Union 1 CRED 9073399485 1941 Abbott Road Anchorage AK 99507 Mark Burgess President, CEO 9073398138 2024-09-18 true 2023 2024-08-08 14:25:15Z Mark Burgess 1941 Abbott Road Anchorage AK 99507 96634096 false X www.cu1.org X 1982 AK HELP MEMBERS ACHIEVE THEIR FINANCIAL GOALS BY FOCUSING ON EXCELLENT SERVICE AND VALUE. 7 7 516 10 245586 0 0 66185154 78161747 6801349 10050516 4773942 4211735 77760445 92423998 32050 30550 0 32938376 35036043 0 0 33549461 48245617 66519887 83312210 11240558 9111788 1475579183 1519582740 1328663622 1358646940 146915561 160935800 HELP MEMBERS ACHIEVE THEIR FINANCIAL GOALS BY FOCUSING ON EXCELLENT SERVICE AND VALUE false false PROVIDE SERVICES TO ELIGIBLE MEMBERS 0 false false false false false false true false true true false false true false true false false false false false false false false false false false true true false false false false false false false false false false false false false false true 15647 0 true 516 true true true false false false false false false false X 7 7 false false false false true true false true true false true true true true true true true true true true false AK X Travis C Frisk CFO 9073398155 1941 Abbott Road Anchorage AK 99507 ANDRE HORTON DIRECTOR 1.0 X 0 0 0 COLIN BAXTER TREASURER 1.0 X 0 0 0 JENNIFER BERNARD VICE CHAIR 1.0 X 0 0 0 JOE TOWSLEE DIRECTOR 1.0 X 0 0 0 MARIETTA ED HALL SECRETARY 1.0 X 0 0 0 STEVEN CAVIN CHAIR 1.0 X 0 0 0 YULIYA MITCHELL DIRECTOR 1.0 X 0 0 0 ERIKA SMITH COO 40.0 X 231763 0 36431 JARRED W LANDRY CLO 40.0 X 160845 0 35202 KEITH BENNETT CTO 40.0 X 248098 0 45674 MARK BURGESS PRESIDENT/CEO 40.0 X 437214 0 168578 TRAVIS C FRISK CFO 40.0 X 204162 0 84345 DEBORAH MANFRED VP OF REAL ESTATE LENDING 40.0 X 166207 0 63819 STEVEN GREENBAUM AVP OF ENTERPRISE SECURITY 40.0 X 170209 0 135792 TERRI L COLSON VP OF PROJECT SOLUTIONS 40.0 X 171891 0 102758 WENDY YOW SVP OF HUMAN RESOURCES 40.0 X 188772 0 116859 RACHEL GUYSELMAN SVP OF RISK AND COMPLIANCE 40.0 X 182120 0 45095 2161281 0 834553 31 false true false 0 0 INTEREST FROM LOANS 56397924 56397924 SERVICING FEES 21265950 21120062 145888 ORIGINATION FEES 497873 497873 0 0 0 0 78161747 10066387 10066387 0 0 4194227 4210098 0 -15871 -15871 -15871 CREDIT LIFE & DISABILITY 1712256 1712256 MISC 1231380 1224780 6600 GAP FEES 1028594 1028594 239505 146407 93098 0 4211735 92423998 35780488 245586 56397924 30550 1652312 25625883 1522009 4081848 2153991 20567 421124 376601 789874 9067994 5193700 2459570 551852 314403 8954500 3737837 436543 LOAN LOSS 10452052 OTHER EXPENSE 2976912 LOAN SERVICING 2418819 POSTAGE AND SHIPPING 73269 0 83312210 17932010 20075571 108616803 118800615 0 0 0 0 998289510 1062262338 2709495 3099698 74385405 35506996 34619309 38878409 261773859 230574595 0 51638197 45891514 1475579183 1519582740 1306317304 1183276946 3516040 3602897 0 0 150000000 18830278 21767097 1328663622 1358646940 146915561 160935800 146915561 160935800 1475579183 1519582740 9111788 4908451 0 X false true X true false false true X 13430135 13430135 33001938 19626097 13375841 708398 708398 0 23934190 15172501 8761689 3310744 0 3310744 38878409 OTHER 230574595 F 230574595 ACCRUED DIVIDENDS 454 ACCRUED EXPENSES 6439501 CARD SETTLEMENT 6888586 EMPLOYEE BENEFITS 3352710 MISC LIABILITIES 284754 SUSPENSE ACCOUNTS 4801092 21767097 92423998 0 0 92423998 0 0 92423998 83312210 0 0 83312210 0 0 83312210 Schedule D, Part IV, Line 2b Mortgage Escrow Escrow amount represents mortgage loan reserves. See Statement Schedule D, Part IV, Line 2b Explanation of escrow agreement ESCROW AMOUNT REPRESENTS MORTGAGE LOAN RESERVES false SCHOLARSHIPS 31 30550 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. SCHOLARSHIP GRANTS ARE PAYABLE ONLY TO SCHOOL OF CHOICE ON BEHALF OF GRANT RECIPIENT X true true X X X false false false MARK BURGESS PRESIDENT/CEO 387214 0 50000 0 0 0 88779 0 79799 0 605792 0 0 0 KEITH BENNETT CTO 243848 0 4250 0 0 0 22866 0 22808 0 293772 0 0 0 ERIKA SMITH COO 213363 0 3400 0 15000 0 14899 0 21532 0 268194 0 0 0 TRAVIS C FRISK CFO 204162 0 0 0 0 0 10843 0 73502 0 288507 0 0 0 JARRED W LANDRY CLO 130845 0 0 0 30000 0 3971 0 31231 0 196047 0 0 0 RACHEL GUYSELMAN SVP OF RISK AND COMPLIANCE 157270 0 24850 0 0 0 5503 0 39592 0 227215 0 0 0 WENDY YOW SVP OF HUMAN RESOURCES 169902 0 18870 0 0 0 47224 0 69635 0 305631 0 0 0 STEVEN GREENBAUM AVP OF ENTERPRISE SECURITY 159159 0 11050 0 0 0 20159 0 115633 0 306001 0 0 0 DEBORAH MANFRED VP OF REAL ESTATE LENDING 141357 0 24850 0 0 0 39634 0 24185 0 230026 0 0 0 TERRI L COLSON VP OF PROJECT SOLUTIONS 141591 0 30300 0 0 0 32507 0 70251 0 274649 0 0 0 Schedule J, Part I, Line 1a First-class or charter travel FIRST CLASS TRAVEL FOR THE CEO AND BOARD CONSULTANT IS AUTHORIZED WHEN TRAVELING OUTSIDE OF THE STATE FOR BUSINESS PURPOSES. ONE FIRST CLASS TICKET PER YEAR IS AUTHORIZED FOR ALL BOARD MEMBERS AND THE SUPERVISORY COMMITTEE CHAIRMAN WHEN TRAVELING OUT OF STATE TO ATTEND TRAINING OR A CONFERENCE. Form 990, Part VI, Line 6 Classes of members or stockholders CREDIT UNION ACCOUNT HOLDERS ARE MEMBERS. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body MEMBERS CAN VOTE TO ELECT THE GOVERNING BODY AT THE ANNUAL MEETING. Form 990, Part VI, Line 11b Review of form 990 by governing body THE 990 WAS REVIEWED AND APPROVED BY THE OFFICERS AND BOARD OF DIRECTORS BEFORE IT WAS FILED. Form 990, Part VI, Line 12c Conflict of interest policy EMPLOYEES SIGN ANNUALLY THAT THEY HAVE READ AND UNDERSTAND THE CONFLICTS OF INTEREST POLICY. BOARD OF DIRECTORS REPORT IN WRITING ANY CONFLICTS OF INTEREST ANNUALLY. Form 990, Part VI, Line 15a Process to establish compensation of top management official CEO COMPENSATION IS APPROVED BY THE BOARD OF DIRECTORS. COMPENSATION SURVEYS ARE OBTAINED AND THE COMPENSATION REVIEW AND APPROVAL PROCESS IS DOCUMENTED. PROCESS LAST COMPLETED IN 2023. Form 990, Part VI, Line 15b Process to establish compensation of other employees COMPENSATION IS APPROVED BY THE PRESIDENT. COMPENSATION SURVEYS ARE OBTAINED AND THE COMPENSATION REVIEW AND APPROVAL PROCESS IS DOCUMENTED Form 990, Part VI, Line 19 Required documents available to the public DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. Form 990, Part VIII, Line 11d Other Miscellaneous Revenue All other revenue - Total Revenue: 239505, Related or Exempt Function Revenue: 146407, Unrelated Business Revenue: 93098, Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Schedule L, Part I BUSINESS TRANSACTIONS BUSINESS TRANSACTIONS BETWEEN THE CREDIT UNION AND INTERESTED PERSONS AS MEMBERS OF THE CREDIT UNION WITH THE SAME TERMS OFFERED TO OTHER MEMBERS OF THE CREDIT UNION WERE NOT INCLUDED ON SCHEDULE L