2025-11-12T11:31:26-06:00 2024-12-31 994260840 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2024-01-01 751084210 FIRST BASIN CREDIT UNION FIRS 4323335600 7100 E TX HWY 191 ODESSA TX 79765 SHEM CULPEPPER CEO 4323335600 2025-11-11 0 AUBREY CLEGG P01076395 3052328272 2025-11-09 2024 2025-03-06 01:10:19Z SHEM CULPEPPER 2740 NORTH COUNTY ROAD WEST ODESSA TX 79764 19757954 0 X WWW.FIRSTBASIN.COM X 1965 TX VOLUNTARY, COOPERATIVE, NOT-FOR-PROFIT SAVINGS INSTITUTION (CREDIT UNION) INCORPORATED UNDER THE PROVISIONS OF THE TEXAS CREDIT UNION ACT, FOR THE PURPOSE OF ENCOURAGING THRIFT AMONG MEMBERS, PROVIDING CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST AND PROVIDING AN OPPORTUNITY TO IMPROVE A MEMBER'S ECONOMIC CONDITION. 6 6 147 0 56555 0 0 0 18204094 14357585 1101263 1120072 631734 4225371 19937091 19703028 0 0 0 0 7454354 6880269 0 0 0 11466678 11481967 18921032 18362236 1016059 1340792 314372660 309895907 287857768 280876715 26514892 29019192 THE PURPOSE OF THE CREDIT UNION IS TO ENCOURAGE THRIFT AMONG MEMBERS, PROVIDE CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST AND PROVIDE AN OPPORTUNITY TO IMPROVE THE MEMBER'S ECONOMIC CONDITION. 0 0 LOANS TO MEMBERS DEPOSIT ACCOUNTS CARD SERVICES 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 4244 0 1 147 1 1 1 0 0 0 0 0 0 0 X 6 6 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X ANA GONZALEZ-ALVARADO 4324386013 7100 E TX HWY 191 ODESSA TX 79765 SHEM CULPEPPER PRESIDENT/CEO/DIRECTOR 40.00 X X 360314 0 48018 SAMUEL GONZALEZ CHAIPERSON 2.00 X 4800 0 0 GARY WINDHAM BOARD SECRETARY 2.00 X 4400 0 0 REBECCA MARLER BOARD TREASURER 2.00 X 4800 0 0 CATHY LARACUENTE BOARD VICE CHAIRPERSON 2.00 X 4000 0 0 WESLEY BURNETT BOARD MEMBER 2.00 X 4800 0 0 ANA GONZALEZ-ALVARADO CHIEF FINANCIAL OFFICER 40.00 X 160712 0 12681 TIMOTHY O'REILLY CHIEF MARKETING OFFICER 40.00 X 216191 0 33972 BRADLEY STILLWELL CHIEF OPERATIONS OFFICER 40.00 X 151400 0 20066 WILLIAM DOUGLAS SYPOLT CHIEF LENDING OFFICER 40.00 X 162531 0 12086 JULIA TARIN CHIEF RETAIL OFFICER 40.00 X 158985 0 5068 1232933 0 131891 6 0 1 0 FEHRS PO BOX 960 SEMINOLE TX 79360 CONSTRUCTION 2467512 JACK HENRY AND ASSOCIATES PO BOX 609 MONETT MO 65708 CORE SYSTEM PROVIDER 828578 RRC CONSTRUCTION 10617 WEST COUNTY RD NO 72 MIDLAND TX 79707 CONSTRUCTION 453354 JSA ARCHITECTS 415 N JACKSON AVE ODESSA TX 79761 CONSTRUCTION 380121 LANVERA LTD 112 WRANALER DR STE 150 COPPELL TX 75019 MEMBER STATEMENTS 215057 14 LOAN INCOME 522100 11626161 11626161 FEE INCOME 522100 2674869 2674869 FINANCE AND INSURANCE 520000 56555 56555 14357585 1120072 1120072 279079 54926 224153 224153 224153 INTERCHANGE INCOME 522100 3698061 3698061 MISCELLANEOUS INCOME 522100 303157 303157 4001218 19703028 18526401 56555 1120072 X 854688 4641758 87040 902410 394373 60000 103756 785307 825300 2622690 637040 1082 87667 1375336 43159 1088698 110584 PROVISION FOR LOAN LOSS 1958922 MAINTENANCE 661234 MISCELLANEOUS 586522 LOAN SERVICING EXPENSES 305116 229554 18362236 5530704 4267061 3719902 13435693 219027660 201476573 444401 422364 34951864 8062556 24682832 26889308 53981238 54627222 937900 991200 6048023 7786486 314372660 309895907 8100852 4687604 6700000 5500000 273056916 270689111 287857768 280876715 X 0 0 0 0 26514892 29019192 26514892 29019192 314372660 309895907 1340792 1163508 0 X X 0 1 X 1 0 0 0 5533948 5533948 23133372 3210163 19923209 30900 29819 1081 6253644 4822574 1431070 26889308 REG SHARES 108549743 SHARE DRAFTS 84366189 CERTIFICATES OF DEPOSITS 20774400 MONEY MARKET 56998779 270689111 X 19757954 54926 54926 19703028 0 19703028 18417162 0 18417162 -54926 -54926 18362236 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE AND INTERNAL REVENUE CODE SECTION 501(C)(14), FROM FEDERAL INCOME TAX. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED NET OF RENTAL REVENUE IN THE STATEMENT OF REVENUE OF FORM 990 BUT REPORTED AS A COMPONENT OF EXPENSES WITHIN THE AUDITED FINANCIALS 54,926. PART XII, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED NET OF RENTAL REVENUE IN THE STATEMENT OF REVENUE OF FORM 990 BUT REPORTED AS A COMPONENT OF EXPENSES WITHIN THE AUDITED FINANCIALS -54,926. X 1 1 X X 0 1 0 SHEM CULPEPPER PRESIDENT/CEO/DIRECTOR 327295 0 27793 0 5226 0 27290 0 20728 0 408332 0 0 0 TIMOTHY O'REILLY CHIEF MARKETING OFFICER 192634 0 23557 0 0 0 13115 0 20857 0 250163 0 0 0 WILLIAM DOUGLAS SYPOLT CHIEF LENDING OFFICER 160284 0 2247 0 0 0 4868 0 7218 0 174617 0 0 0 ANA GONZALEZ-ALVARADO CHIEF FINANCIAL OFFICER 157580 0 3132 0 0 0 4776 0 7905 0 173393 0 0 0 BRADLEY STILLWELL CHIEF OPERATIONS OFFICER 147114 0 1990 0 2296 0 0 0 20066 0 171466 0 0 0 JULIA TARIN CHIEF RETAIL OFFICER 156995 0 1990 0 0 0 4720 0 348 0 164053 0 0 0 PART I, LINE 4B SHEM CULPEPPER AND TIM O'REILLY PARTICIPATED IN A 457(F) FOR WHICH THE CREDIT UNION ACCRUED $17,295 AND $8,647, RESPECTIVELY DURING 2024. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS A CREDIT UNION, WHICH IS A NOT-FOR-PROFIT ORGANIZATION. THE CREDIT UNION HAS MEMBERS AND THESE MEMBERS HAVE THE RIGHT TO ELECT THE GOVERNING BODY OF THE CREDIT UNION, AND THE MEMBERS MAY RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IF DECIDED UPON BY THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7A EACH PRIMARY SHAREHOLDER OR MEMBER OF THE CREDIT UNION THAT HAS $25 DEPOSITED INTO THEIR REGULAR SHARE ACCOUNT IS CONSIDERED A MEMBER IN GOOD STANDING AND IS AFFORDED ONE VOTE FOR ELECTION OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS OF THE CREDIT UNION HAS DELEGATED THE AUTHORITY TO REVIEW AND APPROVE THE SUBMISSION OF THE FORM 990 TO THE PRESIDENT/CEO OF THE CREDIT UNION. ONCE THE PRESIDENT/CEO HAS APPROVED THE INFORMATION REPORTED ON THE FORM, THE INFORMATION IS MADE AVAILABLE TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION HAS IMPLEMENTED A SEGREGATION OF DUTIES TO HELP MINIMIZE THE EVENT OF A PERSON IN A POSITION OF AUTHORITY BENEFITTING FINANCIALLY FROM A DECISION. POLICIES HAVE BEEN WRITTEN TO HELP MITIGATE SUCH OCCURENCES, AND THESE POLICIES ARE REVIEWED ON A YEARLY BASIS BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION USES COMPEASE THAT WILL PROVIDE PAYROLL DATA FOR POSITIONS ACROSS THE COUNTRY WITHIN THE CREDIT UNION INDUSTRY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION WILL ALLOW MEMBERS TO REVIEW GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY UPON REQUEST. THE FINANCIAL STATEMENTS ARE POSTED MONTHLY AT EACH BRANCH, REVIEWED DURING THE CREDIT UNION'S ANNUAL MEETING, AND DISCLOSED IN THE QUARTERLY CALL REPORT WHICH IS AVAILABLE ON THE NCUA'S WEBSITE. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICES 103,756. FORM 990, PART IX, LINE 24E TRAINING/DEVELOPMENT/EDUCATION 229,554. FORM 990, PART XII, LINE 2C THE CREDIT UNION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.