2024-11-14T17:00:14+00:00 2023-12-31 440160260 Forvis Mazars LLP 820 Massachusetts Ave Suite 1370 Indianapolis IN 46204 990 2023-01-01 310568628 General Electric Credit Union GENE 5132434328 11311 Cornell Park Drive 124 Cincinnati OH 45242 Dan Vonderhaar CFO 2024-11-14 true true Michael Summers P00838533 3173834000 2024-11-15 2023 2024-10-15 13:58:12Z Dan Vonderhaar 11311 Cornell Park Drive Suite 24 Cincinnati OH 45242 692009601 false X X 1954 OH PROVIDE FINANCIAL SERVICES TO CREDIT UNION MEMBERS. 9 8 663 9 134811 0 0 160823517 218130826 6771391 20013319 0 167594908 238144145 144000 281300 0 36904914 44707937 0 0 96955808 201617084 134004722 246606321 33590186 -8462176 4683051080 5102489836 4364458764 4795822906 318592316 306666930 OFFER A VARIETY OF QUALITY PRODUCTS AND FINANCIAL SERVICES DESIGNED TO BENEFIT ALL MEMBERS UNDER A STRONG FINANCIAL STRUCTURE THAT ENSURES THE CONTINUED VIABILITY OF THE CREDIT UNION. false false PROVIDE 279,500 MEMBERS A VARIETY OF LOAN AND DEPOSIT SERVICES AT COMPETITIVE INTEREST RATES AND TERMS. ORIGINATED LOANS IN EXCESS OF $1.9 BILLION IN VARIOUS LOANS CATEGORIES INCLUDING RESIDENTIAL, COMMERCIAL, CONSUMER, INDIRECT AUTO, MARINE, AND RV LOANS. CONTINUED ADDITIONS TO TECHNOLOGY DESIGNED TO MAXIMIZE ACCESS TO VARIOUS ONLINE PORTALS THAT CONTAIN A VARIETY OF PRODUCTS AND SERVICES TO ITS MEMBERS. 0 false false false false false false false false true true false false true false false true false false false false false false false false false true true true false false false false false false false false false false false true false false true 196980 0 true 663 true true true false false false false false true false X 9 8 false false false false true true true true true false true true false true true true true true true true false X GENERAL ELECTRIC CREDIT UNION 5132434328 11311 Cornell Park Drive Suite 124 Cincinnati OH 45242 MARY CAY VESSELLS CHAIRPERSON 1.0 X X 0 0 0 MICHAEL JOHNSON 1ST VICE CHAIRPERSON 1.0 X X 0 0 0 RICHARD ILLE SECRETARY/TREASURER 1.0 X X 0 0 0 TIMOTHY D BALLINGER PRESIDENT/CEO 40.0 X X 870057 0 57391 CHERYL HILL 2ND VICE CHAIRPERSON 1.0 X 0 0 0 GAYLE NYSWONGER DIRECTOR 1.0 X 0 0 0 JERRY CABE DIRECTOR 1.0 X 0 0 0 PERRY ENGSTROM DIRECTOR 1.0 X 0 0 0 ROBERT PEAK DIRECTOR 1.0 X 0 0 0 ASHLEY CUNNINGHAM CHIEF DEVELOPMENT OFFICER 40.0 X 259776 0 35428 DANIEL J VONDERHAAR CHIEF FINANCIAL OFFICER 40.0 X 123771 0 12991 JEFFREY LENZER CHIEF RISK OFFICER 40.0 X 252245 0 28082 JILL LINGO CHIEF COMMUNICATION OFFICER 40.0 X 251542 0 34817 JOSEPH ELAM CHIEF INFORMATION OFFICER 40.0 X 214950 0 38897 MELANIE DISNEY TAMASKA CHIEF HUMAN RESOURCES OFFICER 40.0 X 201119 0 30599 MELISSA ZIEGELMEYER CHIEF AUDIT OFFICER 40.0 X 227124 0 18327 NEIL D PATTERSON CHIEF CREDIT OFFICER 40.0 X 296522 0 31672 NICHOLAS MCEVOY CHIEF DELIVERY OFFICER 40.0 X 252404 0 35273 ROBIN SARGENT CHIEF SUPPORT OFFICER 40.0 X 235738 0 33629 BRIAN LUCAS SENIOR VICE PRESIDENT OF COMPLIANCE 40.0 X 206079 0 31817 AMY S WHEELER SENIOR VICE PRESIDENT/CONTROLLER 40.0 X 174307 0 36195 BRANDON J WHEATLEY LOAN ORIGINATOR 40.0 X 742801 0 23652 LAURA J WURZELBACHER SENIOR VICE PRESIDENT OF FINANCIAL PLANNING & ANALYSIS 40.0 X 207256 0 14087 SCOTT MEYER VICE PRESIDENT OF MORTGAGE ORIGINATIONS 40.0 X 265935 0 8060 SERGE N HOWARD SENIOR VICE PRESIDENT, BRANCH SERVICES 40.0 X 167233 0 30937 4948859 0 501854 42 false true false ST GREGORY GROUP 9435 WATERSTONE BLVD CINCINATTI OH 45249 MARKETING 3823242 FISERV PO BOX 745148 ATLANTA GA 30374 CORE PROCESSING 3171129 NCR CORPORATION 14181 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 IT SERVICE 3158602 MERIDIANLINK 3560 HYLAND AVE STE 200 COSTA MESA CA 92626 SOFTWARE PROVIDER 1526402 CBTS 25 Merchant St Cincinatti OH 45246 TELEPHONE & INTERNET PROVIDER 1290552 46 0 Loan Interest 522100 186746099 186746099 Fee/Other Income 522100 31384727 31249916 134811 0 0 0 0 218130826 22892775 22892775 0 0 27145000 423841000 29657024 424208432 -2512024 -367432 -2879456 -2879456 0 0 0 0 0 238144145 238009334 134811 0 265300 16000 3538903 29872148 506399 8206999 2583488 226893 370000 1688717 4429653 1304724 7486083 111364 345490 148524007 3769443 487482 Provision for Loan Losses 22415322 Data Processing Expense 5469522 Loan Servicing 4973185 Miscellaneous Operating 15199 0 246606321 9163227 9106124 290700606 302338165 2403526 1123794 0 0 0 3844498824 4287035255 2263381 2920033 72230629 19026942 51097998 53203687 375638436 386974238 61391747 1500000 45893335 58288540 4683051080 5102489836 22774544 27697508 0 242357912 785541092 4099326308 3982584306 4364458764 4795822906 X 318592316 306666930 318592316 306666930 4683051080 5102489836 X -8462176 7399885 -10863095 X false true X true false 17257561 17257561 38957606 8324051 30633555 412539 142128 270411 15602923 10560763 5042160 53203687 U.S. Treasury Bonds 237446632 F Corporate Bonds 81858365 F Other Securities 67669241 F 386974238 Member Shares 3558638402 Non-Member Deposits 423945904 3982584306 0 0 0 0 0 0 0 0 0 0 0 0 Schedule D, Part X, Line 2 ASC 740 DISCLOSURE: MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. true Alzheimer's Association of Greater Cincinnati 644 Linn St Suite 1026 Cincinatti OH 45203 133039601 501 (C) (3) 17500 GENERAL SUPPORT Be Concerned 1100 Pike St COVINGTON KY 41011 501 (C) (3) 10000 GENERAL SUPPORT Cincinnati Zoo & Botanical 3400 VINE ST CINCINATTI OH 45220 501 (C) (3) 90000 GENERAL SUPPORT Corporation for Findlay Market of Cincinnati PO Box 14727 Cincinnati OH 45250 311740317 501 (C) (3) 11000 GENERAL SUPPORT Grant Us Hope Inc 4010 Executive Park Drive Ste 320 Cincinnati OH 45241 814212207 501 (C) (3) 10000 GENERAL SUPPORT Mercy Health Foundation 1701 MERCY HEALTH PLACE CINCINATTI OH 45237 501 (C) (3) 34000 GENERAL SUPPORT Nest Community Learning Center 11905 Rich Road Loveland OH 45140 812868983 501 (C) (3) 15000 GENERAL SUPPORT Pink Ribbon Good 350 HULS DRIVE DAYTON OH 45315 501 (C) (3) 6000 GENERAL SUPPORT St Gregory Group 700 W PETE ROSE WAY BUILDING D STE 231 CINCINATTI OH 45203 501 (C) (3) 6800 GENERAL SUPPORT Xavier University 3800 VICTORY PARKWAY CINCINATTI OH 45207 501 (C) (3) 25000 GENERAL SUPPORT Yellow Ribbon Support 4326 MOUNT CARMEL TOBASCO ROAD CINCINATTI OH 45244 501 (C) (3) 10000 GENERAL SUPPORT 11 SCHOLARSHIPS 8 16000 Schedule I, Part III, Column (a) TYPE OF GRANT OR ASSISTANCE: SCHOLARSHIPS ARE AWARDED TO GENERAL ELECTRIC CREDIT UNION MEMBERS THAT ARE GRADUATING FROM HIGH SCHOOL AND CONTINUING THEIR EDUCATION. Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS: SCHOLARSHIP RECIPIENTS COMPLETE APPLICATIONS AND ARE CHOSEN BY COMMITTEE BASED ON CERTAIN CRITERIA. DOCUMENTATION IS MAINTAINED ON THE RECIPIENTS. X true true X X X false false false TIMOTHY D BALLINGER PRESIDENT/CEO 863545 0 0 0 6512 0 41250 0 16141 0 927448 0 0 0 NEIL D PATTERSON CHIEF CREDIT OFFICER 240660 0 55862 0 0 0 24219 0 7453 0 328194 0 0 0 JILL LINGO CHIEF COMMUNICATION OFFICER 203960 0 47582 0 0 0 20701 0 14116 0 286359 0 0 0 ASHLEY CUNNINGHAM CHIEF DEVELOPMENT OFFICER 210073 0 49703 0 0 0 21312 0 14116 0 295204 0 0 0 JEFFREY LENZER CHIEF RISK OFFICER 204757 0 47488 0 0 0 20629 0 7453 0 280327 0 0 0 MELISSA ZIEGELMEYER CHIEF AUDIT OFFICER 178123 0 49001 0 0 0 17812 0 515 0 245451 0 0 0 NICHOLAS MCEVOY CHIEF DELIVERY OFFICER 204579 0 47825 0 0 0 21157 0 14116 0 287677 0 0 0 ROBIN SARGENT CHIEF SUPPORT OFFICER 191135 0 44603 0 0 0 19513 0 14116 0 269367 0 0 0 JOSEPH ELAM CHIEF INFORMATION OFFICER 179410 0 35540 0 0 0 18389 0 20508 0 253847 0 0 0 MELANIE DISNEY TAMASKA CHIEF HUMAN RESOURCES OFFICER 163041 0 38078 0 0 0 16609 0 13990 0 231718 0 0 0 BRIAN LUCAS SENIOR VICE PRESIDENT OF COMPLIANCE 174410 0 31669 0 0 0 17746 0 14071 0 237896 0 0 0 BRANDON J WHEATLEY LOAN ORIGINATOR 742801 0 0 0 0 0 1662 0 21990 0 766453 0 0 0 SCOTT MEYER VICE PRESIDENT OF MORTGAGE ORIGINATIONS 265935 0 0 0 0 0 1477 0 6583 0 273995 0 0 0 LAURA J WURZELBACHER SENIOR VICE PRESIDENT OF FINANCIAL PLANNING & ANALYSIS 181386 0 25870 0 0 0 0 0 14087 0 221343 0 0 0 AMY S WHEELER SENIOR VICE PRESIDENT/CONTROLLER 152449 0 21858 0 0 0 15693 0 20502 0 210502 0 0 0 SERGE N HOWARD SENIOR VICE PRESIDENT, BRANCH SERVICES 146668 0 20565 0 0 0 10437 0 20500 0 198170 0 0 0 Schedule J, Part I, Line 1a Travel for companions COMPENSATION BENEFITS RECEIVED: THE CREDIT UNION HAS POLICIES WHICH ALLOW CERTAIN TRAVEL EXPENSES TO BE PAID BY THE CREDIT UNION WHEN A GUEST ACCOMPANIES AN OFFICIAL OR EMPLOYEE ON CREDIT UNION BUSINESS. THESE EXPENSES ARE TREATED AS TAXABLE INCOME TO THE OFFICIAL OR EMPLOYEE ON WHOSE BEHALF THE EXPENSES ARE PAID. Form 990, Part VI, Line 6 Classes of members or stockholders MEMBERS OR STOCKHOLDERS: THE CREDIT UNION HAS A SINGLE CLASS OF MEMBERS WITH EQUAL RIGHTS OF OWNERSHIP, GOVERNANCE AND VOTING. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body MEMBERS OF THE GOVERNING BODY: THE BOARD OF DIRECTORS IS ELECTED BY A MEMBERSHIP BALLOT VOTE COUNTED BY A CERTIFIED PUBLIC ACCOUNTING FIRM. THE RESULTS ARE ANNOUNCED AT THE ANNUAL MEETING. EACH MEMBER IS ELECTED FOR A THREE YEAR TERM. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders GOVERNANCE DECISIONS RESERVED FOR MEMBERS: CREDIT UNION DECISIONS THAT ARE SUBJECT TO MEMBERSHIP APPROVAL ARE MERGERS AND CHARTER CHANGES. Form 990, Part VI, Line 11b Review of form 990 by governing body PROCESS TO REVIEW THE FORM 990: A REVIEW IS CONDUCTED BY THE CFO, PRESIDENT/CEO AND HUMAN RESOURCE DIRECTOR PRIOR TO SUBMISSION TO THE IRS. THE RETURNS ARE MADE AVAILABLE TO THE BOARD OF DIRECTORS FOR REVIEW. Form 990, Part VI, Line 12c Conflict of interest policy CONFLICT OF INTEREST POLICY: EMPLOYEES AND BOARD OF DIRECTORS ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST WHEN THEY OCCUR. IF THERE IS ANY INDICATION THAT ACTIVITIES MAY CAUSE A CONFLICT, EMPLOYEES SHOULD CONSULT THEIR IMMEDIATE SUPERVISOR OR CEO. CONFLICTS OF INTEREST AND RELATED PARTY TRANSACTIONS INVOLVING DIRECTORS AND EXECUTIVE OFFICERS MUST BE REVIEWED BY THE SUPERVISORY COMMITTEE OR THE BOARD OF DIRECTORS. Form 990, Part VI, Line 15a Process to establish compensation of top management official PROCESS FOR DETERMINING COMPENSATION FOR THE CEO AND OTHER OFFICERS: PRESIDENT'S COMPENSATION IS DETERMINED BY THE COMPENSATION COMMITTEE COMPRISED OF SELECTED BOARD MEMBERS. ONCE COMPLETED, THE EVALUATION IS SUBMITTED TO THE FULL BOARD FOR APPROVAL. SALARY INCREASES ARE PERFORMANCE BASED AND INCLUDE SALARY SURVEYS. EXECUTIVE LEVEL SALARIES ARE EVALUATED BY THE PRESIDENT AND HUMAN RESOURCES WITH SUGGESTED SALARY INCREASES PRESENTED AND APPROVED BY THE EXECUTIVE COMMITTEE. ALL OTHER EMPLOYEE'S COMPENSATION ARE REVIEWED ANNUALLY ON THEIR ANNIVERSARY DATE. LAST REVIEW WAS IN 2023 Form 990, Part VI, Line 19 Required documents available to the public GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC: FINANCIAL INFORMATION IS PROVIDED ONLINE THROUGH OUR CORPORATE WEBSITE, QUARTERLY NEWSLETTER, OR ANNUAL REPORTS. OTHER GOVERNING INFORMATION IS AVAILABLE UPON REQUEST. Form 990, Part XI, Line 9 Other changes in net assets or fund balances ADOPTION OF ASC 326 - CECL - -10863095; CUSO CORPORATION 10485 READING ROAD CINCINATTI OH 45241 311420019 MORTGAGE SERVICE OH GECU C Corporation 540084 97730 1 true false false false false false true false false false false false false false true true false true false false CUSO CORPORATION F 400000 CASH CUSO CORPORATION N 36966 CASH CUSO CORPORATION O 26561 CASH CUSO CORPORATION Q 6021 CASH