2024-10-15T10:47:35-05:00 2023-12-31 810781371 J TENBRINK & ASSOCIATES 11272 S RIDGEVIEW RD OLATHE KS 660616454 990 2023-01-01 430605018 ELECTRO SAVINGS CREDIT UNION ELEC 3144346470 1805 CRAIGSHIRE ROAD ST LOUIS MO 631464013 JAMES STRUBLE PRESIDENT & CEO 3144346470 2024-10-15 1 0 GERALD TENBRINK P00638199 9138946214 2024-10-15 2023 2024-10-15 13:58:12Z JAMES STRUBLE 1805 CRAIGSHIRE ROAD ST LOUIS MO 631464013 12489294 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 59 15 42051 0 0 0 13067145 11767727 257246 673471 56374 48096 13380765 12489294 3000 0 9423 5158 5000870 4690415 0 0 0 9986424 11906388 14999717 16601961 -1618952 -4112667 222732123 210183943 208357450 199485729 14374673 10698214 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 21,016 MEMBERS. PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, LOANS OUTSTANDING TOTALED $164,465,176. PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $2,397,361 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 3387 0 1 59 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 JAMES STRUBLE 3144346470 1805 CRAIGSHIRE ROAD ST LOUIS MO 631464013 JAMES MULLINEAUX CHAIRPERSON 1.00 X 0 0 0 KEVIN ATWOOD 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 DIRECTOR 1.00 X 0 0 0 KEN TAKAIDZA DIRECTOR 1.00 X 0 0 0 ALAN RAYMOND DIRECTOR 1.00 X 0 0 0 MICHAEL KNOTT DIRECTOR 1.00 X 0 0 0 WILL COOPER DIRECTOR 1.00 X 0 0 0 JAMES STRUBLE PRESIDENT & CEO 40.00 X 237613 0 54753 LISA FARNEN VICE PRESIDENT - BRAND 40.00 X 159637 0 29465 WILLIAM EMERSON VICE PRESIDENT - ECOMMERCE 40.00 X 157418 0 24947 ASHLEY KEEGAN VICE PRESIDENT - PEOPLE 40.00 X 181647 0 10528 ERIC CLARK VICE PRESIDENT - LENDING 40.00 X 69857 0 5532 BIANCA GONZALEZ VICE PRESIDENT - FINANCE 40.00 X 62941 0 2766 LISA ELLISON AVP - RISK MANAGEMENT 40.00 X 117124 0 10200 CHRISTINA BECKER AVP - MEMBER ADVOCACY 40.00 X 113794 0 4884 1100031 0 143075 6 0 1 0 0 INTEREST ON LOANS 522100 8876501 8876501 FEES & OTHER INCOME 522100 2888017 2849175 38842 WARRANTY SALES 524298 3209 3209 11767727 673471 673471 48096 48096 12489294 12447243 42051 0 5158 997104 2844380 130904 418849 299178 71782 50639 557736 280674 1035055 659374 478408 4234 14055 481762 358524 152255 PROVISION FOR LOAN LOSS 3872838 MEMBER DIVIDENDS 2397361 LOAN SERVICING 1372875 ASSOCIATION DUES & FEES 59059 59757 16601961 1568004 1937514 2282859 20376044 1306538 867968 190780194 160945854 3837183 3915086 14947788 6128653 9183297 8819135 10002155 8656283 3771893 4666059 222732123 210183943 2079395 2424119 18174718 5000000 188103337 192061610 208357450 199485729 X 0 0 0 0 14374673 10698214 14374673 10698214 222732123 210183943 X -4112667 452080 -15872 X 0 1 X 1 0 4057897 4057897 7100637 2937383 4163254 3789254 3191270 597984 8819135 MEMBER SHARE DEPOSITS 192061610 192061610 X 12489294 45500 45500 12443794 45500 45500 12489294 16598890 45500 45500 16553390 48571 48571 16601961 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 IS SUBJECT TO FEDERAL INCOME TAXES. THERE WERE NO SIGNIFICANT INCOME TAXES FOR THE YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022. 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, 2023 AND DECEMBER 31, 2022. 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 45,500. PART XI, LINE 4B - OTHER ADJUSTMENTS: EASE SERVICES, LLC - TOTAL INCOME 45,500. PART XII, LINE 2D - OTHER ADJUSTMENTS: INTERCOMPANY ATM EXPENSES 45,500. PART XII, LINE 4B - OTHER ADJUSTMENTS: EASE SERVICES, LLC - TOTAL EXPENSES 48,571. X X X X X 0 1 0 JAMES STRUBLE PRESIDENT & CEO 211517 0 302 0 25794 0 13235 0 41518 0 292366 0 0 0 ASHLEY KEEGAN VICE PRESIDENT - PEOPLE 157124 0 102 0 24421 0 9120 0 1408 0 192175 0 0 0 LISA FARNEN VICE PRESIDENT - BRAND 117362 0 115 0 42160 0 8205 0 21260 0 189102 0 0 0 WILLIAM EMERSON VICE PRESIDENT - ECOMMERCE 127186 0 608 0 29624 0 8100 0 16847 0 182365 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. PART I, LINE 4B THE FOLLOWING OFFICERS PARTICIPATE IN 457(B) PLANS: JAMES STRUBLE, PRESIDENT & CEO LISA FARNEN, VICE PRESIDENT - BRAND WILLIAM EMERSON, VICE PRESIDENT - ECOMMERCE 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 DOCUMENTS ARE PREPARED 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 245,128. CECL TRANSITION ADJUSTMENT -161,000. EASE SERVICES, LLC CORRECTION -100,000. EASE SERVICES LLC 1805 CRAIGSHIRE ROAD ST LOUIS MO 631464013 833173369 ATM CREDIT UNION SERVICE ORGANIZATION MO 45500 40685