2023-10-03T22:00:10+00:00 2022-12-31 990 2022-01-01 920021481 Credit Union 1 CRED 9073399485 1941 Abbott Road Anchorage AK 99507 Mark Burgess President, CEO 9073398138 2023-10-03 Mark Burgess 999009999 true 2022 2023-04-26 12:10:37Z Mark Burgess 1941 Abbott Road Anchorage AK 99507 80328028 false X www.cu1.org X 1982 AK HELP MEMBERS ACHIEVE THEIR FINANCIAL GOALS BY FOCUSING ON EXCELLENT SERVICE AND VALUE. 7 7 524 10 292373 0 0 61451527 66185154 4657907 6801349 4627410 4773942 70736844 77760445 20500 32050 0 29853749 32938376 0 0 26341619 33549461 56215868 66519887 14520976 11240558 1468974903 1475579183 1309627303 1328663622 159347600 146915561 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 17231 0 true 524 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 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 MARK BURGESS PRESIDENT/CEO 40.0 X 421156 0 86287 TAVISH TAYLOR INTERIM CFO 40.0 X 151207 0 7960 DEBORAH MANFRED VP OF REAL ESTATE LENDING 40.0 X 154991 0 49356 RACHEL GUYSELMAN SVP OF RISK & COMPLIANCE 40.0 X 149439 0 34467 STEVEN GREENBAUM AVP OF ENTERPRISE SECURITY 40.0 X 155151 0 62959 TYLER HASBROUCK VP OF REMOTE DELIVERY 40.0 X 154912 0 51570 WENDY YOW SVP OF HUMAN RESOURCES 40.0 X 164295 0 77529 CHARLES BOSTICK CFO 40.0 X 363026 0 12563 JAMES WILEMAN PRESIDENT/CEO 40.0 X 761922 0 5926 RACHEL LANGTRY COO 40.0 X 320371 0 10939 2796470 0 399556 37 false true false 0 0 INTEREST FROM LOANS 44092793 44092793 SERVICING FEES 21320299 21194410 125889 ORIGINATION FEES 772062 772062 0 0 0 0 66185154 6836178 6836178 0 0 2532754 2567583 0 -34829 -34829 -34829 CREDIT LIFE & DISABILITY 1449065 1449065 GAP FEES 1332695 1332695 MISC 1545265 1545265 446917 280433 166484 0 4773942 77760445 33375279 292373 44092793 32050 2081857 22831816 1800725 4251551 1972427 152894 511443 316896 1328012 8464279 4919196 2297174 381088 228611 3935421 3547535 366721 LOAN LOSS 2777114 LOAN SERVICING 2590644 OTHER EXPENSE 1633874 POSTAGE AND SHIPPING 98559 0 66519887 15394835 17932010 241180189 108616803 0 0 0 0 835862164 998289510 1992785 2709495 67121442 32502133 33316698 34619309 292783107 261773859 0 48445125 51638197 1468974903 1475579183 1291745282 1306317304 3072706 3516040 0 0 14809315 18830278 1309627303 1328663622 159347600 146915561 159347600 146915561 1468974903 1475579183 X 11240558 -23672597 0 X false true X true false false true X 12008803 12008803 32930389 18439968 14490421 708398 708398 0 20989250 13353767 7635483 484602 0 484602 34619309 OTHER 261773859 F 261773859 ACCRUED DIVIDENDS 4523 ACCRUED EXPENSES 5189519 CARD SETTLEMENT 7413830 EMPLOYEE BENEFITS 3836158 MISC LIABILITIES 241225 SUSPENSE ACCOUNTS 2145023 18830278 77760445 0 0 77760445 0 0 77760445 66519887 0 0 66519887 0 0 66519887 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 30 32050 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 true true false MARK BURGESS PRESIDENT/CEO 380656 0 40500 0 0 0 83080 0 3207 0 507443 0 0 0 TAVISH TAYLOR INTERIM CFO 146207 0 5000 0 0 0 0 0 7960 0 159167 0 0 0 WENDY YOW SVP OF HUMAN RESOURCES 138795 0 25500 0 0 0 47329 0 30200 0 241824 0 0 0 STEVEN GREENBAUM AVP OF ENTERPRISE SECURITY 143151 0 12000 0 0 0 12533 0 50426 0 218110 0 0 0 DEBORAH MANFRED VP OF REAL ESTATE LENDING 129491 0 25500 0 0 0 40328 0 9028 0 204347 0 0 0 RACHEL GUYSELMAN SVP OF RISK & COMPLIANCE 129439 0 20000 0 0 0 14664 0 19803 0 183906 0 0 0 TYLER HASBROUCK VP OF REMOTE DELIVERY 133912 0 21000 0 0 0 43587 0 7983 0 206482 0 0 0 JAMES WILEMAN PRESIDENT/CEO 148749 0 1500 0 611673 0 5289 0 637 0 767848 0 0 0 CHARLES BOSTICK CFO 322526 0 40500 0 0 0 0 0 12563 0 375589 0 0 0 RACHEL LANGTRY COO 279871 0 40500 0 0 0 10675 0 264 0 331310 0 80000 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. Schedule J, Part I, Line 4a Severance or change-of-control payment JAMES WILEMAN RECEIVED $611,673 OF SEVERANCE PAY IN MARCH 2022. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan SENIOR LEVEL MANAGERS ARE ELIGIBLE FOR A 457(F) NONQUALIFIED COMPENSATION PLAN AND RECEIVE PERIODIC PAYMENTS UNTIL RETIREMENT. THE ANNUAL BENEFIT ACCRUALS ARE INCLUDED IN COLUMN C OF SCHEDULE J. THE FOLLOWING PAYMENTS WERE MADE DURING THE YEAR: RACHEL LANGTRY: $80,000 AUGUST 2022 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 2022. 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 AD&D and Other Ins Fees - Total Revenue: 280433, Related or Exempt Function Revenue: 280433, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Computer Services - Total Revenue: 108884, Related or Exempt Function Revenue: , Unrelated Business Revenue: 108884, Revenue Excluded from Tax Under Sections 512, 513, or 514: ; MBI - Total Revenue: 57600, Related or Exempt Function Revenue: , Unrelated Business Revenue: 57600, Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part XI, Line 9 Other changes in net assets or fund balances Reclassification for Realized Investment (Gains) Losses Included in Net Income/Loss - 0; 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