2024-09-16T11:00:40-05:00 2023-12-31 810781371 J TENBRINK & ASSOCIATES 11272 S RIDGEVIEW RD OLATHE KS 660616454 990 2023-01-01 480625190 AZURA CREDIT UNION AZUR 7852335556 610 SW 10TH AVENUE TOPEKA KS 666121673 GREG WINKLER PRESIDENT/CEO 7852335556 2024-09-16 1 0 GERALD TENBRINK P00638199 9138946214 2024-09-16 2023 2024-08-08 14:25:15Z GREG WINKLER 610 SW 10TH AVENUE TOPEKA KS 666121673 49794274 0 X WWW.AZURACU.COM X 1974 KS AZURA IS ENHANCING LIVES BY DELIVERING INNOVATIVE FINANCIAL SERVICE, EDUCATION, AND VALUE. 9 9 233 16 183486 0 0 0 36099519 45697872 2122896 4039257 54631 57145 38277046 49794274 150310 187112 0 0 11971535 14480232 0 0 0 18226111 30612122 30347956 45279466 7929090 4514808 740352514 784341030 661869595 704349310 78482919 79991720 X AZURA IS ENHANCING LIVES BY DELIVERING INNOVATIVE FINANCIAL SERVICE, EDUCATION, AND VALUE THROUGH PERSONAL AND COMMUNITY ENGAGEMENT. 1 0 PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 62,615 MEMBERS. PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, THERE WERE 38,017 LOANS OUTSTANDING TOTALING $568,770,753, INCLUDING LOAN PARTICIPATIONS. PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $8,461,376 FOR THE YEAR. 0 0 1 0 0 0 0 1 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 30028 0 1 233 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 1 1 1 1 1 1 1 1 1 1 X DAVID LINDERMAN 7852335556 610 SW 10TH AVENUE TOPEKA KS 666121673 BRAD DEITER CHAIRMAN 2.00 X 0 0 0 JIM FROWNFELTER VICE CHAIRMAN 2.00 X 0 0 0 SHIRLEY MARTIN TREASURER 2.00 X 0 0 0 MARCIA DECHAND SECRETARY 2.00 X 0 0 0 ROBERT BALSTERS DIRECTOR 2.00 X 0 0 0 TINA FREESE DIRECTOR 2.00 X 0 0 0 STEPHEN MCINTOSH DIRECTOR 2.00 X 0 0 0 RANDY PACHOSA DIRECTOR 2.00 X 0 0 0 BRYAN VARGAS DIRECTOR 2.00 X 0 0 0 GREG WINKLER PRESIDENT/CEO 40.00 X 380102 0 45782 BRENTT MOON SVP-OPERATIONS & INFO SYSTEMS/CIO 40.00 X 191870 0 35087 SHERYL DICK SVP-MEMBER SERVICE/CRO 40.00 X 186096 0 35428 LISA BROWN SVP-ADMINISTRATION/CAO 40.00 X 197761 0 24819 HANNAH ANDERSON SVP-LENDING/CLO 40.00 X 172563 0 20003 JENNIFER KEIM SVP-COMPLIANCE/CCO 40.00 X 172575 0 22742 DAVID LINDERMAN SVP-FINANCE/CFO 40.00 X 175448 0 22077 BROOKE HAMILTON VP-DIGITAL MEMBER EXPERIENCE 40.00 X 146511 0 8771 MARY MUNGER VP-MEMBER EXPERIENCE 40.00 X 138478 0 22653 KURTIS SCOTT VP-DIGITAL SERVICES 40.00 X 128424 0 28974 ALLYSON SHOVE-CHARD VP-MARKETING 40.00 X 126429 0 16339 CASSANDRA OWEN VP-PROJECT MANAGEMENT 40.00 X 120226 0 19439 2136483 0 302114 17 0 1 0 DBSI 6950 WEST MORELOS PL SUITE 1 CHANDLER AZ 85226 GENERAL CONTRACTOR 3035045 SENNE COMPANY 2001 NW US-24 TOPEKA KS 66618 GENERAL CONTRACTOR 1781327 NCR CORPORATION 864 SPRING ST NW ATLANTA GA 30308 ATM/ITM/INTERNET BANKING PROVIDER 1237928 VISA ONE MARKET PLACE SAN FRANCISCO CA 94105 DEBIT/CREDIT CARD PROVIDER 870334 FISERV 255 FISERV DRIVE BROOKFIELD WI 53045 CORE SOFTWARE PROVIDER 684274 23 INTEREST ON LOANS 522100 34160142 34160142 FEES & OTHER INCOME 522100 11451268 11354244 97024 WARRANTY SALES & OTHER INSURANCE 524298 86462 86462 45697872 4039257 4039257 57145 57145 49794274 49610788 183486 0 162568 24544 1682353 10345987 483542 1095221 873129 29163 239077 7020 719983 1383492 5065547 2353346 1067454 47468 221538 1715471 1223433 184188 MEMBER DIVIDENDS 8461376 PROVISION FOR LOAN LOSS 6143358 LOAN SERVICING 1570576 DUES & SUBSCRIPTIONS 82823 96809 45279466 9832287 10275260 20934743 53885848 1503604 1546035 5807934 5886776 550785959 560330125 762007 1524338 28756304 8116548 14555253 20639756 120498961 112440044 15671766 17812848 740352514 784341030 8308712 9266909 24629083 38098924 628931800 656983477 661869595 704349310 X 0 0 0 0 78482919 79991720 78482919 79991720 740352514 784341030 X 4514808 571532 -3577539 X 0 1 X 1 0 2500 2500 2500 1 CREDIT UNION PAC OF KANSAS 901 SW TOPEKA BLVD TOPEKA KS 66612 480949548 2500 PART I-A, LINE 1: CONTRIBUTION TO A CREDIT UNION PAC 0 0 4606351 4606351 17558645 4182275 13376370 5588667 3934273 1654394 1002641 1002641 20639756 HTM-FED AGENCY SEC 21500000 C AFS-MORTGAGE BACKED/CMO 51358477 F HTM-MORTGAGE BACKED/CMO 37946299 C FHLB CLASS A STOCK 600000 C MEMBERS MORT SVCS, LLC 192963 C CROCO CUSO, LLC 1005 C FHLB CLASS B STOCK 841300 C 112440044 MEMBER SHARE DEPOSITS 656983477 656983477 X 49794274 0 49794274 0 49794274 45279466 0 45279466 0 45279466 PART IV, LINE 2B: MANY NEW ACCOUNT OFFICERS ARE TRAINED WITH CUNA'S CERTIFIED FINANCIAL COUNSELOR PROGRAM, AND HAVE THAT DESIGNATION. THEY MEET WITH MEMBERS AS NEEDED. 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, 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 AT 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. 1 GREATER TOPEKA PARTNERSHIP FOUNDATION 719 S KANSAS AVE SUITE 100 TOPEKA KS 66603 800077427 501(C)3 10000 0 BETTERMENT OF THE TOPEKA AREA BOYS & GIRLS CLUBS OF TOPEKA 550 SE 27TH STREET TOPEKA KS 66605 480636732 501(C)3 15902 0 YOUTH PROGRAMS HARVESTERS-THE COMMUNITY FOOD NETWORK 215 SE QUINCY TOPEKA KS 66603 431208665 501(C)3 23106 0 FOOD PANTRY MILITARY VETERAN PROJECT INC PO BOX 3926 TOPEKA KS 66604 460877378 501(C)3 24027 0 PREVENTION OF MILITARY SUICIDE THROUGH TREATMENT AND RESEARCH SUPPORTING KIDS FOUNDATION PO BOX 15171 LENEXA KS 66285 272386653 501(C)3 10528 0 FINANCIAL SUPPORT FOR FAMILIES BATTLING CHILDHOOD CANCER TARC INC 2701 SW RANDOLPH AVE TOPEKA KS 66611 486086732 501(C)3 24692 0 SERVICES AND SUPPORT FOR PEOPLE WITH INTELLECTUAL AND DEVELOPMENTAL DISABILITIES TOPEKA RESCUE MISSION PO BOX 8350 TOPEKA KS 66608 480688068 501(C)3 15792 0 HOMELESS SHELTER AND ASSISTANCE STORMONT-VAIL HEALTHCARE INC 1500 SW 10TH AVENUE TOPEKA KS 66604 450543789 501(C)3 8523 0 IMPROVE HEALTH-CARE OF OUR COMMUNITY SHAWNEE HEIGHTS PUBLIC SCHOOLS 4401 SW SHAWNEE HEIGHTS RD TECUMSEH KS 66542 480723971 8997 0 COMMUNITY STUDENT AND TEACHER EDUCATIONAL SUPPORT 8 9 SCHOLARSHIPS 2 2000 TEACHER MINI GRANTS 75 22544 PART I, LINE 2: THE CREDIT UNION AWARDS TWO SCHOLARSHIPS TO STUDENTS WHO WILL BE ATTENDING AN ACCREDITED HIGHER EDUCATION INSTITUTE WITHIN THE STATE OF KANSAS, OR WITHIN 80 MILES OF AN AZURA CREDIT UNION. APPLICATIONS ARE REVIEWED BY A SELECTION COMMITTEE AND WINNERS ARE AWARDED $1,000 WITH PROCEEDS PAID DIRECTLY TO THE COLLEGE/UNIVERSITY OR TECHNICAL SCHOOL. IN ADDITION, TEACHERS MAY APPLY FOR MINI-GRANTS OF UP TO $300 TO HELP COVER THE COST OF VARIOUS CLASSROOM PROJECTS. APPLICATIONS ARE REVIEWED BY AZURA'S BUSINESS DEVELOPMENT STAFF AND FUNDS ARE PAID TO THE VENDOR SUPPLIER OR TO THE SCHOOL. X X X X X 0 1 0 GREG WINKLER PRESIDENT/CEO 371806 0 8095 0 201 0 23791 0 21991 0 425884 0 0 0 BRENTT MOON SVP-OPERATIONS & INFO SYSTEMS/CIO 184812 0 6857 0 201 0 13927 0 21160 0 226957 0 0 0 LISA BROWN SVP-ADMINISTRATION/CAO 191159 0 6400 0 202 0 13727 0 11092 0 222580 0 0 0 SHERYL DICK SVP-MEMBER SERVICE/CRO 181353 0 4541 0 202 0 13588 0 21840 0 221524 0 0 0 DAVID LINDERMAN SVP-FINANCE/CFO 169620 0 5626 0 202 0 12021 0 10056 0 197525 0 0 0 JENNIFER KEIM SVP-COMPLIANCE/CCO 170280 0 2094 0 201 0 12233 0 10509 0 195317 0 0 0 HANNAH ANDERSON SVP-LENDING/CLO 168617 0 3745 0 201 0 7045 0 12958 0 192566 0 0 0 MARY MUNGER VP-MEMBER EXPERIENCE 133915 0 4352 0 211 0 9824 0 12829 0 161131 0 0 0 KURTIS SCOTT VP-DIGITAL SERVICES 125062 0 3160 0 202 0 9477 0 19497 0 157398 0 0 0 BROOKE HAMILTON VP-DIGITAL MEMBER EXPERIENCE 144985 0 1353 0 173 0 6917 0 1854 0 155282 0 0 0 PART I, LINE 3 THE PRESIDENT/CEO'S COMPENSATION IS SET BY THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS, APPROVED BY THE FULL BOARD AND IS PURSUANT TO A WRITTEN EMPLOYMENT CONTRACT. MANY EXTERNAL SOURCES FOR COMPARISON ARE REVIEWED, INCLUDING BUT NOT LIMITED TO COMPEASE SALARY SURVEYS, OTHER CREDIT UNION 990S, PEER SALARY DATA WHERE AVAILABLE, AND PREVIOUS YEAR'S COMPENSATION DATA. PART I, LINE 4B THE CREDIT UNION HAS COLLATERAL ASSIGNMENT SPLIT DOLLAR LIFE INSURANCE ARRANGEMENTS WITH THE FOLLOWING OFFICERS: - GREG WINKLER, PRESIDENT/CEO - LISA BROWN, SVP-ADMINISTRATION/CAO - BRENTT MOON, SVP-OPERATIONS & INFORMATION SYSTEMS/CIO - SHERYL DICK, SVP-RETAIL SERVICES/CRO SEE SCHEDULE L FOR FURTHER DETAILS, INCLUDING THE RELATED LOANS OUTSTANDING AT DECEMBER 31, 2023. GREG WINKLER PRESIDENT/CEO PURCHASE OF CASH VALUE LIFE INSURANCE - NONRECOURSE SPLIT DOLLAR LOAN X 2600000 2683491 0 1 1 LISA BROWN SVP-ADMINISTRATION/CAO PURCHASE OF CASH VALUE LIFE INSURANCE - NONRECOURSE SPLIT DOLLAR LOAN X 800000 816112 0 1 1 BRENTT MOON SVP-OPERATIONS & INFORMATION SYSTEMS/CIO PURCHASE OF CASH VALUE LIFE INSURANCE - NONRECOURSE SPLIT DOLLAR LOAN X 650000 583221 0 1 1 SHERYL DICK SVP-RETAIL SERVICES/CRO PURCHASE OF CASH VALUE LIFE INSURANCE - NONRECOURSE SPLIT DOLLAR LOAN X 1800000 1803952 0 1 1 5886776 SCHEDULE L, PART II, LOANS TO AND FROM INTERESTED PERSONS: THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ARRANGEMENT THE IRS REFERS TO AS "COLLATERAL ASSIGNMENT SPLIT DOLLAR" (CASD). WHILE THE IRS REQUIRES REPORTING IN PART II, ABOVE, FOR LOANS TO INTERESTED PERSONS, CASD IS IS NOT AN ACTUAL LOAN. THERE IS NEITHER A TRANSFER OF FUNDS TO THE EXECUTIVE NOR AN OBLIGATION FOR THE EXECUTIVE TO PAY THOSE FUNDS BACK. INSTEAD, THE CREDIT UNION RECOVERS ITS OUTLAYS PLUS INTEREST FROM THE UNDERLYING INSURANCE POLICY.IN CASD, THE CREDIT UNION DEPOSITS DOLLARS DIRECTLY INTO A LIFE INSURANCE POLICY OWNED BY THE EXECUTIVE AND HOLDS A LIEN ON THE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES AND SUBJECT TO VESTING REQUIREMENTS, THE EXECUTIVE MAY BORROW FROM THE CASH VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME (PROVIDED THERE ARE SUFFICIENT POLICY VALUES). BORROWING IS CAREFULLY MONITORED AND LIMITED TO ASSURE THE POLICY WILL REMAIN IN EFFECT UNTIL THE EXECUTIVE'S DEATH AND WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO REPAY THE CREDIT UNION'S OUTLAYS PLUS INTEREST. FORM 990, PART III, LINE 2 IN 2023, THE CREDIT UNION EXPANDED MEMBER SERVICES BY ADDING THE "LIFT" LOAN PROGRAM WHICH IS AN INSURED LOAN LOSS PRODUCT THAT ALLOWS FOR RISKIER LOANS. 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 THE 990 TAX RETURN IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM BASED ON DATA PROVIDED BY THE CREDIT UNION. UPON COMPLETION, IT IS REVIEWED BY THE CFO AND INTERNAL AUDITOR, UPDATED AS NEEDED, FORMALLY APPROVED BY THE CEO, AND PRESENTED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, OFFICERS, DIRECTORS AND KEY EMPLOYEES ARE REQUIRED TO REVIEW THE CONFLICT OF INTEREST POLICY, DISCLOSE ANY INTERESTS THAT COULD GIVE RISE TO CONFLICTS, AND SUBMIT A SIGNED STATEMENT TO THAT EFFECT. THESE STATEMENTS ARE MAINTAINED ON FILE AT THE CREDIT UNION. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT/CEO'S COMPENSATION IS SET BY THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS, APPROVED BY THE FULL BOARD AND IS PURSUANT TO A WRITTEN EMPLOYMENT CONTRACT. MANY EXTERNAL SOURCES FOR COMPARISON ARE REVIEWED, INCLUDING BUT NOT LIMITED TO COMPEASE SALARY SURVEYS, OTHER CREDIT UNION 990S, PEER SALARY DATA WHERE AVAILABLE, AND PREVIOUS YEAR'S COMPENSATION DATA. FOR OTHER EXECUTIVE POSITIONS, COMPEASE ALLOWS FOR SALARY RANGES, ALONG WITH ASSET SIZES AND REGIONALIZED AREAS. OTHER EMPLOYEE COMPENSATION IS BASED ON COMPEASE PEER DATA AS WELL. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE PRESENTED AT THE ANNUAL MEETING, POSTED QUARTERLY ON THE CREDIT UNION'S WEBSITE, 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 WRITTEN REQUEST OF THE SUPERVISORY COMMITTEE. FORM 990, PART XI, LINE 9: CECL TRANSITION ADJUSTMENT -3,577,539. CROCO CUSO LLC 610 SW 10TH AVENUE TOPEKA KS 66612 920192646 CREDIT UNION SERVICE ORGANIZATION (DORMANT) KS 0 1005