2024-11-15T10:10:45-05:00 2023-12-31 621110839 ATA PLLC 2070 RHINO CROSSING MILAN TN 38358 990 2023-01-01 620681671 LEADERS CREDIT UNION LEAD 7316641784 87 MURRAY GUARD DRIVE SUITE A JACKSON TN 383053774 SETH RUDD CFO 7316641784 2024-11-13 true true JACK M MATTHIS P00669228 7316868371 2024-11-13 2023 2024-10-15 13:58:12Z TODD SWIMS 87 MURRAY GUARD DRIVE SUITE A JACKSON TN 38305 97861599 false X WWW.LEADERSCU.COM X 1957 TN STATE CHARTERED CREDIT UNION THAT PROVIDES FINANCIAL SERVICES TO MEMBERS IN THE FORM OF LOANS, SHARE ACCOUNTS, AND OTHER FINANCIAL INSTITUTIONAL SERVICES. 10 10 227 581389 0 32700085 47823510 -1236453 2426685 23058875 25104268 54522507 75354463 415200 250200 0 17020546 18563340 0 0 24097158 41644505 41532904 60458045 12989603 14896418 872463960 988714205 779921415 881334281 92542545 107379924 X STATE CHARTERED CREDIT UNION THAT PROVIDES FINANCIAL SERVICES TO MEMBERS IN THE FORM OF LOANS, SHARE ACCOUNTS, AND OTHER FINANCIAL INSTITUTIONAL SERVICES. false false PROVISION OF FINANCIAL SERVICES TO MEMBERS IN THE FORM OF LOANS, SHARE ACCOUNTS, AND OTHER FINANCIAL INSTITUTIONAL SERVICES (74,455 MEMBERS). PROVISION OF FINANCIAL SERVICES TO MEMBERS IN THE FORM OF LOANS, SHARE ACCOUNTS, AND OTHER FINANCIAL INSTITUTIONAL SERVICES (74,455 MEMBERS). false false true false false false false false false true false false false true true true true false false false false false false false false false true false true false true false false false false false false false false true false false false true 16767 0 true 227 true true true false false false false false false false X 10 10 false false false false true true true true true false true true false true true true false false true true false X TODD SWIMS 7316641784 87 MURRAY GUARD DRIVE SUITE A JACKSON TN 38305 TODD SWIMS MANAGER/CEO 40.00 X 843895 0 56176 SPENCER PRATT EXECUTIVE VP 40.00 X 344626 0 68008 SETH RUDD CFO 40.00 X 323532 0 67011 RYAN PLATT CIO 40.00 X 246289 0 55424 CHRIS GRAY VP MORTGAGE 40.00 X 241847 0 25837 KEVIN SMITH VP INVESTMEN 40.00 X 223792 0 27299 LEIGH ANNE BENTLEY VP MARKETING 40.00 X 200576 0 42722 JOEL WYATT CHIEF LENDIN 40.00 X 195243 0 47770 DAVE BRATCHER BOARD MEMBER 2.00 X 0 0 0 RUSTY BUTCHER BOARD MEMBER 2.00 X 0 0 0 RICKY CATLETT BOARD MEMBER 2.00 X 0 0 0 EDDIE HAYS BOARD MEMBER 2.00 X 0 0 0 CURRIE HIGGS BOARD MEMBER 2.00 X 0 0 0 CAROLYN HILL BOARD MEMBER 2.00 X 0 0 0 DIANE KELLEY BOARD MEMBER 2.00 X 0 0 0 KIRK NEWCOM BOARD MEMBER 2.00 X 0 0 0 BART TEAGUE BOARD MEMBER 2.00 X 0 0 0 2619800 390247 8 false true false PENTECOST AND GLENN PLLC 162 MURRAY GUARD DRIVE SUITE B JACKSON TN 38305 REAL ESTATE 3588472 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 DEBIT/CREDIT CA 2784497 FISERV PO BOX 745148 ATLANTA GA 30374 DATA PROCESSING 1358926 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 HOME BANKING 1061367 WATLINGTON BROTHERS INC 2292 S HIGHLAND AVE JACKSON TN 38301 CONSTRUCTION 603484 41 INTEREST ON LOANS 522110 47823510 47823510 47823510 2404206 2404206 225918 69236 156682 156682 156682 22438379 22000 22427371 10529 11008 11471 22479 22479 FEE INCOME 522110 17175642 17175642 OTHER INCOME 522110 7190555 7190555 OTHER INCOME 541611 267866 267866 313523 313523 24947586 75354463 74616392 581389 156682 250200 1512054 13208293 1614126 1192281 1036586 28568 117000 726773 1020060 1150480 2009182 866532 282511 100578 18720991 1307349 232950 PROVISION FOR LOAN LOSSES 6123839 LOAN SERVICING 3515921 ATM/DEBIT CARD EXPENSE 3472167 HOME BANKING EXPENSE 1260319 709285 60458045 0 0 0 7860227 7018263 34133734 66843341 754860456 850535114 6797000 6797000 19203 10345 1272035 2003094 31346566 8827141 18442704 22519425 28633259 5439663 20445342 27547960 872463960 988714205 5112825 6079903 180229 191341 41109082 31366600 733519279 843696437 779921415 881334281 X 45641491 51278546 46901054 56101378 92542545 107379924 872463960 988714205 X 14896418 -59039 X false true X true false 1000 1000 1000 true TENNESSEE CREDIT UNION LEAGUE TENNESSEE CREDIT UNION LEAGUE PO BOX 21550 PO BOX 21550 CHATTANOOGA TN 37424 422728395 1000 SCHEDULE C, PART IV SCHEDULE C, PART I-A, LINE 1 - CONTRIBUTIONS WERE MADE TO A PAC. 293869 9302875 9596744 1969486 14080204 5501384 10548306 5234014 3325757 1908257 466118 466118 22519425 MEMBER DEPOSITS 843696437 843696437 X 75423699 69236 69236 75354463 75354463 60527281 69236 69236 60458045 60458045 SCHEDULE D, PAGE 3, PART X SCHEDULE D, PART X, LINE 2 - THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES ON BUSINESS RELATED INCOME. THE CREDIT UNION AND ITS SUBSIDIARY FILE AN INFORMATIONAL RETURN WITH THE INTERNAL REVENUE SERVICE. THE CREDIT UNION ACCOUNTS FOR UNCERTAIN TAX POSITIONS IN ACCORDANCE WITH GAAP. THERE WERE NO UNCERTAIN TAX POSITIONS REPORTED IN 2023 OR 2022 IN THE CONSOLIDATED FINANCIAL STATEMENTS. IN THE EVENT OF AN UNCERTAIN TAX POSITION, THE CREDIT UNION WOULD RECORD INTEREST EXPENSE AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS AS INTEREST EXPENSE AND OTHER NONINTEREST EXPENSE, RESPECTIVELY. SCHEDULE D, PAGE 4, PART XI, LINE 2D RENTAL EXPENSE NETTED AGAINST RENTAL INCOME 69,236 SCHEDULE D, PAGE 4, PART XII, LINE 2D RENTAL EXPENSES NETTED AGAINST RENTAL INCOME 69,236 SCHEDULE D, PAGE 4, PART XIII SCHEDULE D, PART XI, LINE 2D / SCHEDULE D, PART XII, LINE 2D - RENTAL EXPENSE FOR REAL PROPERTY HELD FOR INVESTMENT IN THE AMOUNT OF 69,236 IS NETTED AGAINST RENTAL INCOME IN PART VIII STATEMENT OF REVENUE ON THE 990 BUT IS INCLUDED IN EXPENSES ON THE AUDITED FINANCIAL STATEMENTS. false GREATER JACKSON AREA CHAMBER 197 AUDITORIUM ST JACKSON TN 38301 620154490 501C6 7200 BOOK FORWARD JACKSON JACKSON-MADISON CO SCHOOL SYSTEM 310 N PARKWAY JACKSON TN 38305 626000732 JMCSS 10000 BOOK TEACHER INSERVICE LEADERS EDUCATION FOUNDATION PO BOX 10144 JACKSON TN 383080102 843226843 501C3 200000 BOOK SCHOLARSHIPS/GRANTS WEST TENNESSEE HEALTHCARE FOUNDATIO 620 SKYLINE DRIVE JACKSON TN 38301 581671241 501C3 33000 BOOK HEALTH OUTREACH 2 2 SCHEDULE I, PAGE 1, PART I, LINE 2 SCHEDULE I, PART I, LINE 2 - GREATER JACKSON AREA CHAMBER OF COMMERCE FORWARD JACKSON CAMPAIGN PROVIDES AN ANNUAL REPORT AND IS AUDITED ANNUALLY BY A THIRD PARTY ACCOUNTING FIRM. JACKSON-MADISON COUNTY SCHOOL SYSTEM- LEADERS ATTENDS THE IN-SERVICE EVENT THAT WE SPONSOR AT THE 10,000 LEVEL. ANY MONEY NOT USED FOR THE DAY'S EVENT GOES TO THEIR GENERAL FUND. LEADERS EDUCATION FOUNDATION-LEADERS CREDIT UNION IS PROVIDED A COPY OF THE ANNUAL REPORT FROM THE LEADERS EDUCATION FOUNDATION ANNUALLY. THE ANNUAL REPORT SHOWCASES ALL FUNDS DISRIBUTED THROUGHOUT THE COVERAGE AREA AND PROVIDES FINANCIAL ACCOUNTING FOR ALL OF THE MEMBERSHIP. THE FOUNDATION ALSO HOLDS AN ANNUAL MEETING WHICH LEADERS ATTENDS. WEST TENNESSEE HEALTHCARE FOUNDATION PROVIDES EDUCATION AND OUTREACH TO SUPPORT THE MINISTRY OF HEALTH AND HEALING THROUGHOUT WEST TENNESSEE. MONIES WERE DONATED TO THE HOSPICE HOME CAMPAIGN. X X X X true true X X X X false true false TODD SWIMS MANAGER/CEO 438416 53600 351879 43500 12676 900071 SPENCER PRATT EXECUTIVE VP 265013 55694 23919 49500 18508 412634 SETH RUDD CFO 247390 51780 24362 48503 18508 390543 RYAN PLATT CIO 191723 29953 24613 36916 18508 301713 CHRIS GRAY VP MORTGAGE 214846 21299 5702 25404 433 267684 KEVIN SMITH VP INVESTMENT SVCS 104000 117532 2260 18441 8858 251091 LEIGH ANNE BENTLEY VP MARKETING 156825 24501 19250 30046 12676 243298 JOEL WYATT CHIEF LENDING OFFICE 156783 24494 13966 29262 18508 243013 SCHEDULE J, PART III SCHEDULE J, PART I, LINE 1A - DIRECTORS OF THE CREDIT UNION AND EXECUTIVES ATTEND CERTAIN SEMINARS AND EVENTS THAT WERE FOR THE BUSINESS PURPOSES OF THE CREDIT UNION. SPOUSES OF CERTAIN DIRECTORS AND EXECUTIVES ALSO WENT ON THESE TRIPS AND CERTAIN TRAVEL EXPENSES WERE PAID FOR BY THE CREDIT UNION. THE CREDIT UNION WAS REIMBURSED BY THE DIRECTORS, THE EXPENSE WAS OFFSET BY MILEAGE EXPENSE OWED TO THE DIRECTORS, AND/OR THE SPOUSE EXPENSE WAS REPORTED TO THE SPOUSE ON A 1099-MISC. THE EXECUTIVE'S SPOUSE TRAVEL EXPENSE WAS GROSSED UP AND REPORTED AS COMPENSATION ON THE EXECUTIVE'S W-2. COUNTRY CLUB DUES WERE PAID ON BEHALF OF THE CEO AND WERE GROSSED UP AND REPORTED AS COMPENSATION ON THE CEO'S W-2. SCHEDULE J, PART I, LINE 3 - HUMAN RESOURCE MANAGER USES COMPEASE SALARY ADMINISTRATION PROGRAM TO DETERMINE RESPONSIBILITIES AND COMPENSATION FOR EMPLOYEES AT ALL LEVELS. COMPEASE USES INDUSTRY SPECIFIC JOB DESCRIPTIONS, EVALUATION SYSTEM, AND GEOGRAPHIC SALARY RANGES TO DEVELOP COMPENSATION RANGES. A COMPENSATION COMMITTEE APPROVES OVERALL SALARY BUDGET AND CEO COMPENSATION BASED ON COMPEASE RESEARCH. SCHEDULE J, PART I, LINE 4 - THE EXECUTIVE VP AND CFO OF THE CREDIT UNION PARTICIPATED IN A 457(F) PLAN. TODD SWIMS MANAGER/CEO COLLATERAL X 6797000 6797000 false true true 6797000 FORM 990, PAGE 2, PART III, LINE 4D PROVISION OF FINANCIAL SERVICES TO MEMBERS IN THE FORM OF LOANS, SHARE ACCOUNTS, AND OTHER FINANCIAL INSTITUTIONAL SERVICES (74,455 MEMBERS). FORM 990, PAGE 6, PART VI, LINE 6 FORM 990, PART VI, SECTION A, LINE 6 - BECAUSE LEADERS CREDIT UNION IS CONSIDERED A MUTUAL ENTITY, MEMBERS ARE CONSIDERED INDIVIDUALS OR BUSINESSES THAT QUALIFY FOR MEMBERSHIP. ANYONE LIVING, WORKING, WORSHIPPING, OR ATTENDING SCHOOL IN MADISON, CHESTER, DYER, HAYWOOD, LAKE, LAUDERDALE, OR MCNAIRY COUNTIES IN TENNESSEE, CRITTENDED COUNTY IN ARKANSAS, OR IN CERTAIN PARTS OF CARROLL, CROCKETT, FAYETTE, GIBSON, HARDEMAN, HENDERSON, HENRY, SHELBY, TIPTON, AND WEAKLEY COUNTIES IN TENNESSEE; EMPLOYEES WORKING AT ONE OF OUR SELECT EMPLOYEE GROUPS (SEGS); AND EMPLOYEES OR MEMBERS OF ONE OF OUR ASSOCIATED GROUPS ARE ELIGIBLE FOR MEMBERSHIP. THE CREDIT UNION IS A NOT-FOR-PROFIT CORPORATION WITH MEMBERS. THE MEMBERS ELECT THE MEMBERS OF THE BOARD OF DIRECTORS (GOVERNING BODY) AND THE GOVERNING BODY IS NOT THE ORGANIZATION'S ONLY MEMBERS. THE MEMBERS CAN RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS OR A SHARE OF THE ORGANIZATION'S NET ASSETS UPON DISSOLUTION. FORM 990, PAGE 6, PART VI, LINE 7A FORM 990, PART VI, SECTION A, LINE 7A - A QUORUM OF MEMBERS AT THE ANNUAL MEETING ELECT ONE OR MORE MEMBERS OF THE BOARD OF DIRECTORS (GOVERNING BODY) AS VACANCIES ARISE, BASED ON NOMINATIONS OF THE NOMINATING COMMITTEE. FORM 990, PAGE 6, PART VI, LINE 7B FORM 990, PART VI, SECTION A, LINE 7B - A QUORUM OF MEMBERS AT THE ANNUAL MEETING ELECT ONE OR MORE MEMBERS OF THE BOARD OF DIRECTORS (GOVERNING BODY) AS VACANCIES ARISE, BASED ON NOMINATIONS OF THE NOMINATING COMMITTEE. FORM 990, PAGE 6, PART VI, LINE 11B FORM 990, PART VI, SECTION B, LINE 11B - THE IRS FORM WAS PREPARED BY A THIRD PARTY ACCOUNTING FIRM AND REVIEWED BY THE ACCOUNTING MANAGER AND CFO PRIOR TO SUBMISSION TO THE IRS. A COPY WAS PROVIDED TO THE BOARD AFTER FILING. FORM 990, PAGE 6, PART VI, LINE 12C FORM 990, PART VI, SECTION B, LINE 12C - CONFLICTS OF INTEREST POLICY ENFORCEMENT IS THE RESPONSIBILITY OF THE INTERNAL COMPLIANCE OFFICER THAT REPORTS DIRECTLY TO THE SUPERVISORY COMMITTEE REGARDING ANY EXCEPTIONS TO POLICY. ADDITIONALLY, THE BOARD AND MANAGEMENT OF THE CREDIT UNION REVIEW AND ADDRESS POTENTIAL CONFLICTS OF INTEREST SHOULD THEY ARISE. FORM 990, PART VI, SECTION B, LINE 13 - WE DO NOT HAVE A SPECIFIC WHISTLEBLOWER POLICY BUT THERE ARE SECTIONS WITHIN THE EMPLOYEE HANDBOOK THAT COVER REPORTING CONDUCT OR VIOLATIONS. FORM 990, PART VI, SECTION B, LINE 14 - WE DO NOT HAVE A WRITTEN DOCUMENT DESTRUCTION POLICY. HOWEVER, WE FOLLOW THE RULES OF THE DEPARTMENT OF FINANCIAL INSTITUTIONS RETENTION OF RECORDS CHAPTER 0180-2 FOUND ON THE TENNESSEE DEPARTMENT OF FINANCIAL INSTITUTIONS WEBSITE. FORM 990, PAGE 6, PART VI, LINE 15A FORM 990, PART VI, SECTION B, LINE 15 - HUMAN RESOURCE MANAGER USES COMPEASE SALARY ADMINISTRATION PROGRAM TO DETERMINE RESPONSIBILITIES AND COMPENSATION FOR EMPLOYEES AT ALL LEVELS. COMPEASE USES INDUSTRY SPECIFIC JOB DESCRIPTIONS, EVALUATION SYSTEM, AND GEOGRAPHIC SALARY RANGES TO DEVELOP COMPENSATION RANGES. A COMPENSATION COMMITTEE APPROVES OVERALL SALARY BUDGET AND CEO COMPENSATION BASED ON COMPEASE RESEARCH. FORM 990, PAGE 6, PART VI, LINE 15B FORM 990, PART VI, SECTION B, LINE 15 - HUMAN RESOURCE MANAGER USES COMPEASE SALARY ADMINISTRATION PROGRAM TO DETERMINE RESPONSIBILITIES AND COMPENSATION FOR EMPLOYEES AT ALL LEVELS. COMPEASE USES INDUSTRY SPECIFIC JOB DESCRIPTIONS, EVALUATION SYSTEM, AND GEOGRAPHIC SALARY RANGES TO DEVELOP COMPENSATION RANGES. A COMPENSATION COMMITTEE APPROVES OVERALL SALARY BUDGET AND CEO COMPENSATION BASED ON COMPEASE RESEARCH. FORM 990, PAGE 6, PART VI, LINE 19 FORM 990, PART VI, SECTION C, LINE 19 - THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICTS OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE FINANCIAL STATEMENTS ARE POSTED ANNUALLY IN THE LOBBY AT 214 OIL WELL RD. IN JACKSON, TN. FORM 990, PART XI, LINE 9 RENTAL EXPENSE NETTED AGAINST RENTAL INCOME 69,236 RENTAL EXPENSES NETTED AGAINST RENTAL INCOME -69,236 LEADERS EDGE LLC MURRAY GUARD DRIVE SUITE A JACKSON TN 38305 455571653 LENDING TN 267866 48105 NA