2024-05-08T16:18:52-05:00 2023-12-31 362985770 SELDEN FOX LTD ONE PARKVIEW PLAZA SUITE 710 OAKBROOK TERRACE IL 60181 990 2023-01-01 361855525 ENCURAGE FINANCIAL NETWORK CREDIT UNION ENCU 7735652000 8430 W BRYN MAWR 500 CHICAGO IL 60631 MICHAEL ABRAHAM PRESIDENT/CEO 7735652000 2024-05-08 1 MICHAEL ABRAHAM 999009999 1 STEVEN G PIERSON P00653362 6309541400 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z X MICHAEL ABRAHAM 8430 W BRYN MAWR 500 CHICAGO IL 60631 23102635 0 X WWW.FIRSTFCU.ORG X 1936 IL ENCOURAGE THRIFT AMONG ITS MEMBERS AND PROVIDE A SOURCE OF CREDIT AT REASONABLE INTEREST RATES. 7 7 88 7 0 0 0 0 6888894 11807367 455138 726487 495760 439201 7839792 12973055 0 0 0 0 2460736 2837701 0 0 0 4591133 11061263 7051869 13898964 787923 -925909 177453797 219005750 166789182 209807554 10664615 9198196 TO PROVIDE SUPERIOR FINANCIAL VALUE WITH UNSURPASSED SERVICE WHILE MAINTAINING OUR TRADITION OF STABILITY, TRUST, AND SECURITY. 0 0 LOANS (MORTGAGE, HOME EQUITY, CREDIT CARD, VEHICLE, AND OTHER) ARE GRANTED TO INDIVIDUALS WHO ARE MEMBERS IN GOOD STANDING WITH THE CREDIT UNION AND WHO QUALIFY FOR SUCH LOANS. SHARE ACCOUNTS ARE OFFERED AT A NO-MONTHLY FEE BASIS TO THOSE MEMBERS WHO APPLY AND ARE IN GOOD STANDING WITH THE CREDIT UNION. ATM/DEBIT CARDS AND CHECKCARDS ARE AVAILABLE TO MEMBERS WHO APPLY FOR ELECTRONIC ACCESS TO THEIR ACCOUNTS FOR DEPOSIT AND WITHDRAWAL OF FUNDS AND ACCOUNT INFORMATION. 0 0 1 0 0 0 0 1 0 1 0 1 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 4468 0 1 88 1 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 X BILL LUMP CFO 7735652003 8430 W BRYN MAWR SUITE 500 CHICAGO IL 60631 WILLIAM HARLAN CHAIRPERSON 1.00 X X 0 0 0 TOM MONTICELLO VICE CHAIRPERSON 1.00 X X 0 0 0 MICHAEL GEBHARDT SECRETARY 1.00 X X 0 0 0 JAMIE BERRA TREASURER 1.00 X 0 0 0 SUSAN KOSYLA DIRECTOR 1.00 X 0 0 0 DIONNE LEWIS DIRECTOR 1.00 X 0 0 0 JOSE PEREZ DIRECTOR 1.00 X 0 0 0 MICHAEL ABRAHAM PRESIDENT/CEO 40.00 X 242500 0 58099 WILLIAM LUMP CFO 40.00 X 168492 0 27450 DANIEL BUTTERWORTH VICE PRESIDENT 40.00 X 146349 0 38370 STEPHANIE BERTELSEN VICE PRESIDENT 40.00 X 116138 0 40315 SUSAN BECKWITH DIRECTOR OF RISK MANAGEMEN 40.00 X 121822 0 18880 JOHN GREGG VICE PRESIDENT 40.00 X 108134 0 14403 903435 0 197517 6 0 1 0 J2M-TOUHY LLC 3543 NORTH PULASKI CHICAGO IL 60641 RENT 137627 PURE IT CREDIT UNION SERVICES 17665 TELGE RD CYPRESS TX 77429 INFORMATION TECHNOLOGY 115284 2 INTEREST ON LOANS 522100 10797382 10797382 SHARE DRAFT/FEE INCOME 522100 864848 864848 COMMISSION/INTERCHANGE 522100 145137 145137 11807367 663961 663961 10192106 10129580 62526 62526 62526 MISCELLANEOUS INCOME 522100 439201 439201 439201 12973055 12910529 0 62526 496541 1752155 117770 288157 183078 23098 308887 323337 294348 215239 14980 272860 152331 5780303 195221 66591 LOSSES ON LOANS 2029128 OTHER OPERATING COSTS 671474 LOAN PROGRAMS 409956 BANK CARD PROGRAMS 181503 122007 13898964 652658 1087868 3888797 7251911 1277851 1472249 150124583 187486137 1583123 951203 6030241 2041898 3544586 3988343 427379 469948 12075300 11160082 3879520 5138009 177453797 219005750 2493062 6683101 1178167 1444440 26834247 40300000 2000000 2000000 134283706 159380013 166789182 209807554 X 0 0 0 0 10664615 9198196 10664615 9198196 177453797 219005750 X -925909 209642 -750152 X X 0 1 X 1 0 5360 0 5360 5360 1 CREDIT UNION POLITICAL ACTION COUNCIL PO BOX 3107 NAPERVILLE IL 60566 370216685 5360 0 1178167 266273 1444440 1 X 1061915 1061915 2996669 685409 2311260 183894 60014 123880 1787763 1296475 491288 3988343 CERTIFICATES OF DEPOSIT 5819225 F US GOVERNMENT AGENCY SECURITIES 3009243 F INVESTMENT IN CREDIT UNION SERVICE ORGANIZATIONS (CUSOS) 621614 C INVESTMENT IN FEDERAL HOME LOAN BANK STOCK 1710000 C 11160082 REGULAR SHARES 38361192 IRA SHARES 2202574 SHARE DRAFTS 16212187 MONEY MARKET SHARES 14312542 CERTIFICATES 85808315 CHRISTMAS CLUB 90651 BUSINESS SHARES 2392552 159380013 PART IV, LINE 2B: THE CREDIT UNION HAS SHARES ON DEPOSIT FROM MEMBERS THAT FUNCTION AS MORTGAGE ESCROW ACCOUNTS TO PAY PROPERTY TAXES, MORTGAGE INSURANCE, AND HAZARD INSURANCE ON REAL ESTATE RELATED TO THOSE MORTGAGES HELD BY THE CREDIT UNION. X 0 0 0 MICHAEL ABRAHAM PRESIDENT/CEO 220000 0 22500 0 0 0 13872 0 44227 0 300599 0 0 0 WILLIAM LUMP CFO 165492 0 3000 0 0 0 12188 0 15262 0 195942 0 0 0 DANIEL BUTTERWORTH VICE PRESIDENT 135649 0 10700 0 0 0 7671 0 30699 0 184719 0 0 0 STEPHANIE BERTELSEN VICE PRESIDENT 107838 0 8300 0 0 0 8482 0 31833 0 156453 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 FIRST FINANCIAL CREDIT UNION (CREDIT UNION) IS A COOPERATIVE NON-PROFIT ASSOCIATION, ORGANIZED UNDER THE STATE OF ILLINOIS CREDIT UNION ACT FOR THE PURPOSES OF ENCOURAGING SAVINGS AND ADDRESSING THE LENDING NEEDS OF ITS MEMBERSHIP BASE. THE CREDIT UNION OFFERS A RANGE OF SHARE ACCOUNTS, SHARE DRAFT ACCOUNTS, MONEY MARKET AND CERTIFICATES OF DEPOSITS AND PROVIDES PERSONAL SECURED AND UNSECURED LOANS TO ITS MEMBERS. THE CREDIT UNION'S FIELD OF MEMBERSHIP INCLUDES CURRENT AND PAST EMPLOYEES AND THEIR FAMILIES OF AT&T AND ALCATEL-LUCENT CORPORATIONS, S&C ELECTRIC COMPANY, JOHN CRAIN, METHODE ELECTRONICS, CHICAGO & NORTHWESTERN RAILWAY CO. AND OTHER SELECT EMPLOYEE GROUPS AS SPECIFIED IN THE CREDIT UNION'S BYLAWS. THE CREDIT UNION ALSO HAS A COMMUNITY CHARTER WHICH INCLUDES THE INDIVIDUALS WHO LIVE AND WORK IN THE VILLAGE OF SKOKIE, MORTON GROVE, LINCOLNWOOD, THE CITY OF PARK RIDGE, ILLINOIS OR WITHIN THE GEOGRAPHIC BORDERS OF NORTH ILLINOIS ROUTE 120, WEST ILLINOIS ROUTE 45 TO ILLINOIS ROUTE 83 TO ILLINOIS ROUTE 53/290 TO INTERSTATE 355, SOUTH INTERSTATE 55 AND EAST LAKE MICHIGAN. THIS INCLUDES ANY POLITICAL JURISDICATION THE BOUNDARY LINES TRAVERSE WITH THE EXCEPTION OF THE CITY OF CHICAGO. FORM 990, PART VI, SECTION A, LINE 7A VIA PROXY FORM 990, PART VI, SECTION A, LINE 7B VIA PROXY FORM 990, PART VI, SECTION B, LINE 11B THE ANNUAL FORM 990 IS REVIEWED BY THE CREDIT UNION'S CEO AND CFO PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C WHEN HIRED, EMPLOYEES ARE GIVEN A COPY OF THE PERSONNEL POLICIES, WHICH INCLUDE A CONFLICT OF INTEREST POLICY, AND SIGN AN ACKNOWLEDGEMENT FORM THAT THEY HAVE READ AND UNDERSTAND SAID POLICIES. BOARD MEMBERS ANNUALLY SIGN AN OATH OF OFFICE STATING THEY DO NOT HAVE CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION IS REVIEWED BY THE BOARD COMMITTEE, WHICH UTILIZES A SALARY SURVEY. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CECL TRANSITION AMOUNT -750,152. PART XII, LINE 2C THE CREDIT UNION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS OF THE INDEPENDENT AUDITOR DURING THE TAX YEAR. FIRST FINANCIAL CUSO SERVICES LLC 8430 W BRYN MAWR SUITE 500 CHICAGO IL 60631 301045246 HOLDING IL FIRST FINANCIAL CREDIT UNION C 393587 12303771 1.00000 0 1 0 0 1 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 FIRST FINANCIAL CUSO SERVICES LLC L 0 FAIR MARKET VALUE FIRST FINANCIAL CUSO SERVICES LLC N 0 FAIR MARKET VALUE FIRST FINANCIAL CUSO SERVICES LLC A 383491 FAIR MARKET VALUE FIRST FINANCIAL CUSO SERVICES LLC D 5298907 FAIR MARKET VALUE FIRST FINANCIAL CUSO SERVICES LLC S 3300000 FAIR MARKET VALUE