2023-11-06T10:16:57-06:00 2022-12-31 810781371 J TENBRINK & ASSOCIATES 11272 S RIDGEVIEW RD OLATHE KS 660616454 990 2022-01-01 430605018 ELECTRO SAVINGS CREDIT UNION ELEC 3144346470 1805 CRAIGSHIRE ROAD ST LOUIS MO 631464013 JIM STRUBLE PRESIDENT & CEO 3144346470 2023-11-06 1 JIM STRUBLE 999009999 0 GERALD TENBRINK P00638199 9138946214 2023-11-01 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JIM STRUBLE 1805 CRAIGSHIRE ROAD ST LOUIS MO 631464013 13380765 0 X WWW.ELECTROSAVINGS.COM X 1941 MO THE MISSION OF ELECTRO SAVINGS CREDIT UNION IS TO FULFILL MEMBERS' FINANCIAL NEEDS IN A MANNER WHICH IS BENEFICIAL TO THEM INDIVIDUALLY AND COLLECTIVELY. THIS FULFILLMENT WILL BE ACCOMPLISHED BY OFFERING SAVINGS PLANS, LOAN PROGRAMS, AND OTHER SERVICES, WHICH ARE FISCALLY SOUND, COMPETITIVE AND INNOVATIVE WITHIN THE RESTRAINTS IMPOSED BY GOOD AND ETHICAL BUSINESS PRACTICES. CREDIT UNION STAFF WILL ADMINISTER THE SERVICES AND PROGRAMS IN A PROFESSIONAL, COURTEOUS MANNER. THE BOARD OF DIRECTORS WILL ACT UNSELFISHLY AND RESPONSIBLY IN ALL CREDIT UNION ACTIVITIES. 9 9 82 16 50472 0 0 0 11791561 13067145 288490 257246 51545 56374 12131596 13380765 11000 3000 5614 9423 4572648 5000870 0 0 0 7179836 9986424 11769098 14999717 362498 -1618952 250400815 222732123 233234975 208357450 17165840 14374673 X THE MISSION OF ELECTRO SAVINGS CREDIT UNION IS TO FULFILL MEMBERS' FINANCIAL NEEDS IN A MANNER WHICH IS BENEFICIAL TO THEM INDIVIDUALLY AND COLLECTIVELY. THIS FULFILLMENT WILL BE ACCOMPLISHED BY OFFERING SAVINGS PLANS, LOAN PROGRAMS, AND OTHER SERVICES, WHICH ARE FISCALLY SOUND, COMPETITIVE AND INNOVATIVE WITHIN THE RESTRAINTS IMPOSED BY GOOD AND ETHICAL BUSINESS PRACTICES. CREDIT UNION STAFF WILL ADMINISTER THE SERVICES AND PROGRAMS IN A PROFESSIONAL, COURTEOUS MANNER. THE BOARD OF DIRECTORS WILL ACT UNSELFISHLY AND RESPONSIBLY IN ALL CREDIT UNION ACTIVITIES. 0 0 PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 21,717 MEMBERS. PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2022, LOANS OUTSTANDING TOTALED $194,445,989. PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $744,227 FOR THE YEAR. 0 0 0 0 0 0 0 0 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 1 0 0 0 1 3139 0 1 82 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 0 1 1 X JIM STRUBLE 3144346470 1805 CRAIGSHIRE ROAD ST LOUIS MO 631464013 JAMES MULLINEAUX CHAIRPERSON 1.00 X 0 0 0 WILBON COOPER VICE CHAIRPERSON 1.00 X 0 0 0 DAVID MEGLIO SECRETARY 1.00 X 0 0 0 THOMAS GLENN TREASURER 1.00 X 0 0 0 JAMES TELTHORST BOARD MEMBER 1.00 X 0 0 0 KEN TAKAIDZA BOARD MEMBER 1.00 X 0 0 0 ALAN RAYMOND BOARD MEMBER 1.00 X 0 0 0 MICHAEL KNOTT BOARD MEMBER 1.00 X 0 0 0 KEVIN ATWOOD BOARD MEMBER 1.00 X 0 0 0 JIM STRUBLE PRESIDENT & CEO 40.00 X 245433 0 48518 PATRICIA POE VICE PRESIDENT - FINANCE & LENDING 40.00 X 163682 0 22600 LISA FARNEN VICE PRESIDENT - BRAND 40.00 X 158465 0 25061 ASHLEY KEEGAN VICE PRESIDENT - PEOPLE 40.00 X 180985 0 11022 WILLIAM EMERSON VICE PRESIDENT - ECOMMERCE 40.00 X 147301 0 32322 895866 0 139523 5 0 1 0 0 INTEREST ON LOANS 522100 9552439 9552439 FEES & OTHER INCOME 522100 3500066 3464234 35832 WARRANTY SALES 524298 14640 14640 13067145 257246 257246 56374 56374 13380765 13330293 50472 0 3000 9423 1035389 3123726 95749 457124 288882 415736 55317 387505 322819 1351778 522940 460925 11737 68411 277909 363719 134577 PROVISION FOR LOAN LOSS 3570741 LOAN SERVICING 976590 MEMBER DIVIDENDS 744227 ASSOCIATION DUES & FEES 65224 256269 14999717 3807472 1568004 34728016 2282859 119150 1306538 181577092 190780194 3904811 3837183 14858426 5675129 9511609 9183297 12956032 10002155 3796633 3771893 250400815 222732123 1174426 2079395 4000000 18174718 228060549 188103337 233234975 208357450 X 0 0 0 0 17165840 14374673 17165840 14374673 250400815 222732123 X -1618952 -1335038 162823 X 0 1 X 1 0 4057897 4057897 7098800 2715606 4383194 3701729 2959523 742206 9183297 MEMBER SHARE DEPOSITS 188103337 188103337 X 13380765 28500 28500 13352265 28500 28500 13380765 14982455 28500 28500 14953955 45762 45762 14999717 PART X, LINE 2: THE CREDIT UNION IS EXEMPT BY STATUTE FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501 OF THE INTERNAL REVENUE CODE (IRC) OF 1954; HOWEVER, THE CREDIT UNION'S UNRELATED BUSINESS INCOME AND SUBSIDIARIES ARE SUBJECT TO FEDERAL INCOME TAXES. THERE WERE NO SIGNIFICANT INCOME TAXES FOR THE YEARS ENDED DECEMBER 31, 2022 AND DECEMBER 31, 2021. ACCOUNTING PRINCIPLES PRESCRIBE A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE CREDIT UNION HAD NO UNRECOGNIZED TAX POSITIONS ON DECEMBER 31, 2022 AND 2021. IT IS THE CREDIT UNION'S POLICY TO RECORD ANY PENALTIES OR INTEREST ARISING FROM FEDERAL OR STATE TAXES AS A COMPONENT OF NONINTEREST EXPENSE. PART XI, LINE 2D - OTHER ADJUSTMENTS: INTERCOMPANY FEES 28,500. PART XI, LINE 4B - OTHER ADJUSTMENTS: EASE SERVICES, LLC - TOTAL INCOME 28,500. PART XII, LINE 2D - OTHER ADJUSTMENTS: INTERCOMPANY ATM EXPENSES 28,500. PART XII, LINE 4B - OTHER ADJUSTMENTS: EASE SERVICES, LLC - TOTAL EXPENSES 45,762. X X X X X 0 0 0 JIM STRUBLE PRESIDENT & CEO 203909 0 15577 0 25947 0 13107 0 35411 0 293951 0 0 0 ASHLEY KEEGAN VICE PRESIDENT - PEOPLE 149553 0 7332 0 24100 0 9099 0 1923 0 192007 0 0 0 PATRICIA POE VICE PRESIDENT - FINANCE & LENDING 132191 0 7240 0 24251 0 8642 0 13958 0 186282 0 0 0 LISA FARNEN VICE PRESIDENT - BRAND 108446 0 7330 0 42689 0 8152 0 16909 0 183526 0 0 0 WILLIAM EMERSON VICE PRESIDENT - ECOMMERCE 109322 0 6183 0 31796 0 8280 0 24042 0 179623 0 0 0 PART I, LINE 3 AN INDEPENDENT THIRD PARTY SALARY CONSULTANT MEETS WITH THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS, PROVIDES COMPARATIVE SALARY SURVEY INFORMATION, AND MAKES A RECOMMENDATION ON THE PRESIDENT'S COMPENSATION PURSUANT TO A SIGNED EMPLOYMENT CONTRACT. DELIBERATIONS AND DECISIONS ARE DOCUMENTED IN THE MINUTES. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS MUTUALLY OWNED BY MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS ARE ELECTED BY THE CREDIT UNION MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN SIGNIFICANT CHANGES ARE SUBJECT TO APPROVAL BY THE CREDIT UNION MEMBERS; HOWEVER, NO SUCH CHANGES WERE MADE DURING THE YEAR. FORM 990, PART VI, SECTION B, LINE 11B DATA IS GATHERED BY THE ACCOUNTING DEPARTMENT, VERIFIED BY THE VICE PRESIDENT - FINANCE, AND PROVIDED TO THE ACCOUNTING FIRM PREPARING THE RETURNS. THE PRESIDENT REVIEWS AND APPROVES THE COMPLETED TAX RETURNS. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, ALL DIRECTORS AND SENIOR MANAGEMENT REVIEW THE CONFLICT OF INTEREST POLICY AND ARE ASKED TO DISCLOSE ANY INTERESTS THAT COULD GIVE RISE TO CONFLICTS. RESULTS ARE DOCUMENTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION B, LINE 15A AN INDEPENDENT THIRD PARTY SALARY CONSULTANT MEETS WITH THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS, PROVIDES COMPARATIVE SALARY SURVEY INFORMATION, AND MAKES A RECOMMENDATION ON THE PRESIDENT'S COMPENSATION PURSUANT TO A SIGNED EMPLOYMENT CONTRACT. ALL OTHER MANAGEMENT COMPENSATION IS DETERMINED BY THE PRESIDENT AND IS PRESENTED AS PART OF THE BUDGET PACKAGE TO THE BOARD OF DIRECTORS FOR APPROVAL. DELIBERATIONS AND DECISIONS ARE DOCUMENTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY, PRESENTED AT THE ANNUAL MEETING, AND ARE AVAILABLE UPON REQUEST. IN ADDITION, THE NCUA WEBSITE POSTS FINANCIAL INFORMATION AS PART OF THE QUARTERLY CALL REPORTS. OTHER DOCUMENTS, POLICIES, AND PROCEDURES ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: MINIMUM PENSION LIABILITY ADJUSTMENT 162,823. EASE SERVICES LLC 1805 CRAIGSHIRE ROAD ST LOUIS MO 631464013 833173369 ATM CREDIT UNION SERVICE ORGANIZATION MO 28500 143756