2023-11-13T12:40:00-08:00 2022-12-31 830368487 BOYCE SPADY & MOORE PLC 1013 W Washington Street Suffolk VA 23434 990 2022-01-01 540314180 BAYPORT CREDIT UNION BAYP 7579288850 ONE BAYPORT WAY 350 NEWPORT NEWS VA 23606 G LEWIS SMITH VP/FINANCE 2023-11-13 true G LEWIS SMITH 999009999 true Robert M Moore Jr P00063540 7575392953 X 2 AAL1 IAL1 FAL1 2022 2023-04-26 12:10:37Z ONE BAYPORT WAY 350 NEWPORT NEWS VA 23606 115796547 false X www.bayportcu.org X 1928 VA THE CREDIT UNION PROVIDED AFFORDABLE LOANS TO OVER 16,000 MEMBERS DURING THE YEAR. MANY OF THE INDIVIDUALS WOULD NOT HAVE BEEN ABLE TO OBTAIN SUCH LOANS FROM OTHER FINANCIAL INSTITUTIONS. IN ADDITION, THE CREDIT UNION PROVIDED DEPOSITORY SERVICES TO MEMBERS PROVIDING BRANCHES, ON-LINE BANKING, FINANCIAL COUNSELING SERVICES, HOME BUYING AND RETIREMENT SEMINARS, FINANCIAL EDUCATION, SCHOLARSHIPS AND NUMEROUS OTHER RELATED SERVICES. THE CREDIT UNION'S MEMBERSHIP CONSISTS OF PRIMARILY INDIVIDUALS IN THE HAMPTON ROADS AREA AND INCLUDES MANY INDIVIDUALS GENERALLY NOT RECRUITED FOR SERVICES AT LARGER FINANCIAL INSTITUTIONS. 11 11 596 11 -332198 342093 0 96417529 106387526 3597288 8308354 69006 -332198 100083823 114363682 0 0 38961943 39541223 0 0 56328537 60240221 95290480 99781444 4793343 14582238 2278710765 2286817396 2066085502 2092334993 212625263 194482403 TO PROVIDE AFFORDABLE FINANCIAL SERVICES TO ITS MEMBERS INCLUDING LOAN RELATIONSHIPS DEPOSITORY SERVICES CREDIT CARDS AND INTERNET BANKING AT CONVENIENT LOCATIONS BY PROFESSIONALS WHO PROVIDE EXCELLENT SERVICE false false TO PROVIDE AFFORDABLE LOANS TO OVER 16,000 MEMBERS DURING THE YEAR. MANY OF THE INDIVIDUALS WOULD NOT HAVE BEEN ABLE TO OBTAIN SUCH LOANS FROM OTHER FINANCIAL INSTITUTIONS. IN ADDITION, THE CREDIT UNION PROVIDED DEPOSITORY SERVICES TO MEMBERS PROVIDING BRANCHES, ON-LINE BANKING, FINANCIAL COUNSELING SERVICES, HOME BUYING AND RETIREMENT SEMINARS, FINANCIAL EDUCATION, SCHOLARSHIPS AND NUMEROUS OTHER RELATED SERVICES. THE CREDIT UNION'S MEMBERSHIP CONSISTS PRIMARILY OF INDIVUDALS IN THE HAMPTON ROADS AREA AND INCLUDES MANY INDIVIDUALS GENERALLY NOT RECRUITED FOR SERVICES AT LARGER FINANCIAL INSTITUTIONS. false false false false false false false false false true false false true true false false false false false false false false false false false false false false true false true false false false false false false false false false false false false true 33167 0 true 596 true true true false false false false false false false X 11 11 false false false false true false false true true false true true false true false false false true false false false X NANCY K POPE 7578734030 ONE BAYPORT WAY NEWPORT NEWS VA 23606 X JAMES MEARS PRESIDENT/CEO 40.00 0.00 526045 0 0 STANLEY LEICESTER EVP 40.00 0.00 377566 0 0 MARK MCKNIGHT FINANIAL SERVICES REP 40.00 0.00 270156 0 0 GODFREY SMITH CFO 40.00 0.00 248241 0 0 JENNIFER COYNE COO 40.00 0.00 234401 0 0 SUSAN FERNAAYS CXO 40.00 0.00 233728 0 0 DENISE MCROBERTS CIO 40.00 0.00 231520 0 0 IRA WILLIAMS VP MEMBER EXP 40.00 0.00 224919 0 0 WENDY BROWN CHRO 40.00 0.00 221133 0 0 NANCY PORTER VP MARKETING 40.00 0.00 204145 0 0 PAMELA J ROWE VICE CHAIRMAN 0.00 0.00 X X 0 0 0 CRAIG HOLLEY JR Asst Secretary 0.00 0.00 X X 0 0 0 SUZANNE M BECKSTOFFER VICE CHAIRMAN 0.00 0.00 X X 0 0 0 MAUREEN DAVIS Chairman 0.00 0.00 X X 0 0 0 MARY CULLEN Director 0.00 0.00 X 0 0 0 LEMESHIA STEELE Director 0.00 0.00 X 0 0 0 JENNIFER M MILLER Secretary/Treas 0.00 0.00 X X 0 0 0 RAY C BAGLEY Director 0.00 0.00 X 0 0 0 GEORGE C WIATT JR Director 0.00 0.00 X 0 0 0 DINETTA D HILL Director 0.00 0.00 X 0 0 0 THOMASINA R WRIGHT Director 0.00 0.00 X 0 0 0 2771854 28 false true false ALM FIRST FINANCIAL ADVISORS LLC 3800 MAPLE AVE DALLAS TX 75219 INVESTMENT MANAGEMENT 216749 LUCRO COMMERCIAL SOLUTIONS LLC 3692 COOLIDGE CT TALLAHASSEE FL 32311 UNDERWRITING SERVICE 374993 NORTH RIVER CONSTRUCTION LLC PO BOX 97 WARE NECK VA 23178 CONSTRUCTION 1134904 NETGAIN TECHNOLOGIES LLC 2031 GEORGETOWN RD LEXINGTON KY 40511 COMPUTER 200208 HRC SHOPS LLC 4433 CORPORATION LANE VIRGINIA BEACH VA 23462 REALTOR 112992 5 0 FEES AND CHARGES 522100 13825335 13825335 LOAN INTEREST 522100 75518719 75518719 MISCELLANEOUS 522100 17043472 17043472 106387526 8308354 8308354 0 0 1100667 1432865 -332198 -332198 -332198 0 0 0 0 NON-OPERATING INC/EXP 0 114363682 114695880 -332198 0 0 0 0 1656409 0 26521840 0 11362974 0 0 0 0 0 0 0 0 0 0 0 0 6549660 836428 0 0 540911 0 0 0 ACCOUNT SERVICING 17286782 INTREST ON MEMBERS' ACCOUNTS 10907572 OFFICE 10563325 PROVISION FOR LOAN LOSSES 7500000 6055543 99781444 0 0 0 39499230 35571213 0 0 0 0 0 973215796 421154508 0 1940241 2589838 111750228 52661597 61176332 59088631 0 0 0 0 1202879166 1768413206 2278710765 2286817396 40022142 24269616 122022719 69000000 1904040641 1999065377 2066085502 2092334993 X 212625263 194482403 212625263 194482403 2278710765 2286817396 X 14582238 -32725098 X false true X true false 111750228 52661597 59088631 59088631 ACCRUED INCOME 5576969 AUTO LOANS 691646955 LOANS - ALLOWANCE FOR LOAN LOSSES -27233089 LOANS HELD FOR SALE LOANS-REAL ESTATE 574794534 OTHER ASSETS 49708483 OTHER RECEIVABLES 21054108 1768413206 BUSINESS SHARES 109194586 CHECKING SHARES 329079691 MEMBER CERTIFICATES 405619071 OTHER 4477010 OTHER SHARES 674460171 REGULAR SHARES 476234846 Rounding 2 1999065377 false false false DENISE MCROBERTS CIO 212826 17740 954 231520 GODFREY SMITH CFO 224235 20742 3264 248241 IRA WILLIAMS VP MEMBER EXP 209281 14783 855 224919 JAMES MEARS PRESIDENT/CEO 402795 106040 17210 526045 JENNIFER COYNE COO 215825 18576 234401 MARK MCKNIGHT FINANIAL SERVICES REP 36307 233849 270156 NANCY PORTER VP MARKETING 189362 14783 204145 STANLEY LEICESTER EVP 324656 35023 17887 377566 SUSAN FERNAAYS CXO 212740 20988 233728 WENDY BROWN CHRO 201701 18576 856 221133 STANLEY LEICESTER EMPLOYEE LOANS X 1719100 1297356 false true true DENISE MCROBERTS EMPLOYEE LOANS X 486000 408586 false true true IRA WILLIAMS EMPLOYEE LOANS X 692850 431774 false true true JAMES MEARS EMPLOYEE LOANS X 1049025 530574 false true true TONYA EDWARDS EMPLOYEE LOAN X 771000 729615 false true true GODFREY SMITH EMPLOYEE LOANS X 337000 300623 false true true GEORGE WIATT BOARD LOANS X 275400 74 false true true SUSAN FERNAAYS EMPLOYEE LOAN X 21500 101 false true true MARY CULLEN BOARD LOAN X 30000 7045 false true true MAUREEN DAVIS BOARD LOAN X 51852 27447 false true true PAMELA ROWE BOARD LOAN X 90000 2652 false true true THOMASINA WRIGHT BOARD LOANS X 2402500 1724464 false true true JENNIFER COYNE EMPLOYEE LOAN X 766824 712443 false true true SUZANNE BECKSTOFFER BOARD LOANS X 304500 130894 false true true DINETTA HILL BOARD LOAN X 52217 46788 false true true MARK MCKNIGHT EMPLOYEE LOAN X 50000 54826 false true true 6405262 Form 990, Part VI, Section B, Line 11b THE CREDIT UNION GATHERS THE INFORMATION NECESSARY TO COMPLETE THE RETURN AND FORWARDS SUCH INFORMATION AND ANY OTHER INFORMATION REQUESTED BY ITS ACCOUNTING FIRM TO ITS ACCOUNTING FIRM. UPON COMPLETION OF THE RETURN, THE CREDIT UNION REVIEWS THE RETURN AND CONSULTS WITH ACCOUNTING FIRM BEFORE FILING. Form 990, Part VI, Section C, Line 19 AVAILABLE UPON REQUEST Form 990, Part XI, Line 9 UNREALIZED GAINS ON INVESTMENTS = -$32725098 Statement Note 1 BAYPORT CREDIT UNION RESPECTFULLY FILES THIS TAX RETURN UNDER PROTEST.IT IS OUR POSITION THAT ALL UNRELATED BUSINESS INCOME AND EXPENSES, AS INDICATED IN THIS TAX RETURN, IS DIRECTLY RELATED TO THE EXEMPT ACTIVITIES OF THE CREDIT UNION. ACCORDINGLY, WE DISAGREE WITH THE POSITIONS TAKEN BY THE INTERNAL REVENUE SERVICE IN 2007 TECHNICAL ADVICE MEMORANDUMS, REQUIRING THE FILING OF FORM 990-T. THESE SERVICES SUPPORT AND ENHANCE OTHER FINANCIAL SERVICES OFFERED BY THE CREDIT UNION TO ITS MEMBERS.