2024-11-15T17:44:42-06:00 2023-12-31 311223798 WHITMER & COMPANY CPAS LLP 615 ELSINORE PLACE SUITE 625 CINCINNATI OH 452021427 990 2023-01-01 310627742 SHAREFAX CREDIT UNION INC SHAR 5137532440 604 IVY GATEWAY CINCINNATI OH 45245 TODD CAIN PRESIDENT/CEO 5137532440 2024-11-15 1 0 SHARON J EDDINGFIELD P01473551 5133818010 2023 2024-10-15 13:58:12Z TODD CAIN 604 IVY GATEWAY CINCINNATI OH 45245 22203427 0 X WWW.SHAREFAX.ORG X 1960 OH WE ARE A MEMBER-OWNED, NOT-FOR-PROFIT FINANCIAL INSTITUTION. OUR MISSION: WE ARE A COOPERATIVE FORMED FOR THE SOLE PURPOSE OF IMPROVING THE FINANCIAL WELL BEING OF OUR MEMBERS. 8 8 104 0 35993 31432 0 0 11863371 15083575 1265634 2125761 5028499 4992881 18157504 22202217 0 0 0 0 5449806 6452463 0 0 0 10913764 14451014 16363570 20903477 1793934 1298740 514929234 504681218 20317334 1935783 494611900 502745435 WE ARE A MEMBER-OWNED, NOT-FOR-PROFIT FINANCIAL INSTITUTION. OUR MISSION: WE ARE A COOPERATIVE FORMED FOR THE SOLE PURPOSE OF IMPROVING THE FINANCIAL WELLBEING OF OUR MEMBERS. 0 0 THIS IS NOT APPLICABLE TO THE CREDIT UNION. 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 5145 0 1 104 1 1 1 0 0 0 0 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 0 0 OH X THE ORGANIZATION 5137532440 604 IVY GATEWAY CINCINNATI OH 45245 DENNIS MESSER DIRECTOR 1.00 X 0 0 0 DANIEL MURPHY VICE-CHAIRPERSON 1.00 X 0 0 0 C DAVID TAYLOR DIRECTOR 1.00 X 0 0 0 SUSAN S OCHS TREASURER 1.00 X 0 0 0 TYRONE UGARTE DIRECTOR 1.00 X 0 0 0 MARK FOX SECRETARY 1.00 X 0 0 0 DAVID AARONSON CHAIRPERSON 1.00 X 0 0 0 CHARLES HERTLEIN JR DIRECTOR 1.00 X 0 0 0 DEBORAH JOHNSON DIRECTOR 1.00 X 0 0 0 TODD CAIN PRESIDENT/CEO 40.00 X 277018 0 7805 CARL FITE VP INFORMATION SYSTEM 40.00 X 147901 0 7354 MARGARET MOFFITT VP OPERATIONS 40.00 X 145245 0 12533 CARRIE COX CFO (FORMER) 40.00 X 153471 0 10065 723635 0 37757 4 1 1 0 0 INTEREST ON LOANS 522100 15083575 15083575 15083575 2110007 2110007 16964 1210 15754 15754 15754 FEES 522100 3084311 3084311 MISCELLANEOUS 522100 1908570 1872577 35993 4992881 22202217 22166224 35993 0 723734 4585214 142903 597566 403046 37290 43505 337214 111190 812772 22628 66606 148986 UNRELATED BUSINESS INCO 5673 EXPENSES RELATED TO UNR 3561 DIVIDENDS 8124911 OTHER OPERATIONS EXPENS 3605970 1130708 20903477 1684238 1094913 127031485 120424060 182575 155789 358726166 356695125 68081 1815145 19129252 5770457 13577948 13358795 578869 717085 13079872 10420306 514929234 504681218 20317334 1935783 20317334 1935783 X 448953756 455237227 0 0 45658144 47508208 494611900 502745435 514929234 504681218 X 1298740 958004 5876791 X X 0 1 X 1 0 2763070 2763070 12911662 3793943 9117719 3454520 1976514 1478006 13358795 X 22202217 0 22202217 0 22202217 20903477 0 20903477 0 20903477 PART X, LINE 2: THE CREDIT UNION HAS ADOPTED FASB ACCOUNTING STANDARDS CODIFICATION 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES AND HAS EVALUATED ITS TAX POSITIONS TAKEN FOR ALL OPEN TAX YEARS. CURRENTLY, 2022, 2021, 2020, AND 2019 TAX YEARS ARE OPEN AND SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. HOWEVER, THE CREDIT UNION IS NOT CURRENTLY UNDER AUDIT NOR HAS THE ORGANIZATION BEEN CONTACTED BY THE INTERNAL REVENUE SERVICE. X 0 0 0 TODD CAIN PRESIDENT/CEO 276615 0 0 0 403 0 2325 0 5480 0 284823 0 0 0 CARRIE COX CFO (FORMER) 137561 0 15397 0 513 0 4585 0 5480 0 163536 0 0 0 MARGARET MOFFITT VP OPERATIONS 131030 0 12366 0 1849 0 4302 0 8231 0 157778 0 0 0 CARL FITE VP INFORMATION SYSTEM 134308 0 13210 0 383 0 4426 0 2928 0 155255 0 0 0 SEE SCHEDULE O X 0 1 1 FORM 990, PART VI, SECTION A, LINE 6 MEMBERS IN THE CREDIT UNION INDUSTRY ARE THE DEPOSITORS AND DEBTORS WHO ARE QUALIFIED FOR MEMBERSHIP BASED UPON THE FIELD OF MEMBERSHIP AS APPROVED BY THE OHIO DIVISION OF FINANCIAL INSTITUTIONS. FORM 990, PART VI, SECTION A, LINE 7A ALL MEMBERS IN GOOD STANDING MAY PARTICIPATE IN THE ELECTION PROCESS FOR BOARD MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B LIMITED DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY THE MEMBERS. THE BOARD OF DIRECTORS IS GUIDED BY THE BYLAWS AND LAWS AND REGULATIONS OF THE OHIO DIVISION OF FINANCIAL INSTITUTIONS AND THE FEDERAL GOVERNMENT. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS IS PROVIDED A COPY OF THE 990 AND THE 990-T IN DRAFT FORM PRIOR TO THE SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION HAS CHECKS AND BALANCES IN PLACE RELATIVE TO COMPLIANCE WITH POLICY AND STATURES. THE CREDIT UNION HAS ANNUAL AUDITS BY AN INDEPENDENT CPA FIRM, THE OHIO DIVISION OF FINANCIAL INSTITUTIONS AND NCUA EXAMINERS. FORM 990, PART VI, SECTION B, LINE 15A THE CEO'S COMPENSATION IS APPROVED ANNUALLY BY THE BOARD OF DIRECTORS BY USE OF COMPARABILITY DATA AND GOALS ESTABLISHED BY THE BOARD OF DIRECTORS. 15B. ALL OTHER SALARIES ARE ADMINISTREED BY THE CEO THROUGH COMPARABILITY STUDIES AND ABILITY. THEY MUST BE MAINTAINED WITHIN THE BUDGET PARAMETERS AS APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS ARE AVAILABLE TO THE MEMBERS OF THE CREDIT UNION. FINANCIAL STATEMENTS ARE POSTED ON A MONTHLY BASIS AT THE CREDIT UNION OFFICE AND ARE AVAILABLE UPON REQUEST. FORM 990, PART VII CONTACT ADDRESSES FOR OFFICERS, DIRECTORS, ETC DENNIS MESSER - 5286 SHADY MEADOWS DR, HAMILTON, OH 45011. DANIEL MURPHY - 5990 FOUR MILE ROAD, MELBOURNE, KY 41059. C. DAVID TAYLOR - 4448 RANDALL DR., HAMILTON, OH 45011. SUSAN S. OCHS - 12130 REGENCY RUN COURT, #2, CINCINNATI, OH 45240. TYRONE UGARTE - 4551 MILLIKIN ROAD, LIBERTY TWP, OH 45011. MARK FOX - 5040 GOAL POST LANE, CINCINNATI, OH 45244. DAVID AARONSON - 16 LITTLE CREEK, CINCINNATI, OH 45246. CHARLES HERTLEIN, JR - 5224 LAUREL RIDGE LANE, CINCINNATI, OH 45247. CARRIE COX - 604 IVY GATEWAY, CINCINNATI, OH 45245. CARL FITE - 604 IVY GATEWAY, CINCINNATI, OH 45245. MARGARET MOFFITT - 604 IVY GATEWAY, CINCINNATI, OH 45245. FORM 990, PART XI, LINE 9: CHANGE IN MEMBER SHARES (CAPITAL STOCK) 6,283,471. CHANGE IN DUE TO ADOPTION OF NEW ACCOUNTING STANDARD FASB ASU 2016-13 -406,680. FORM 990, PART XII, LINE 2C: THERE HAS BEEN NO CHANGE IN THE PROCESS SINCE PRIOR YEAR. FORM 990, PART VI, SECTION A: SCHEDULE L, PART II THE CREDIT UNION IS A FINANCIAL INSTITUTION AND THE BUSINESS NATURE OF THE CREDIT UNION IS TO LOAN MONEY. DURING THE NORMAL COURSE OF BUSINESS, INTERESTED PARTIES MAY QUALIFY FOR A LOAN. THE TERMS OF THESE LOANS ARE COMPARABLE TO THE TERMS OF THE LOANS OFFERED TO OTHER MEMBERS OF THE CREDIT UNION.