2025-11-14T19:03:01-06:00 2024-12-31 994260840 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2024-01-01 741109889 FIVEPOINT CREDIT UNION FIVE 4097268300 PO BOX 1366 NEDERLAND TX 776271366 ERIK SHAW CEO 4097268200 2025-11-12 0 AUBREY CLEGG P01076395 3052328272 2025-11-11 2024 2025-03-06 01:10:19Z ERIK SHAW PO BOX 1366 NEDERLAND TX 77627 68944661 0 X WWW.FIVEPOINTCU.ORG X 1935 TX TO PROVIDE FINANCIAL SERVICES TO OUR MEMBERSHIP WITH VARIOUS LOAN AND DEPOSIT PRODUCTS. 9 9 249 14 103460 0 0 0 54976856 65575513 3770279 3265688 91240 103460 58838375 68944661 370387 75000 0 0 19305635 22236753 0 0 0 36855649 43803883 56531671 66115636 2306704 2829025 940698707 987167081 864661283 907001377 76037424 80165704 TO IMPROVE THE QUALITY OF LIFE FOR OUR MEMBERS AND THE COMMUNITY. 0 0 INTEREST INCURRED ON MEMBER DEPOSITS APPROXIMATED $17,883,000 DURING THE YEAR ENDED DECEMBER 31, 2024. ATM SERVICES PROVIDED TO THE MEMBERSHIP REPRESENTED APPROXIMATELY $2,102,000 OF TOTAL EXPENSES INCURRED DURING THE YEAR ENDED DECEMBER 31, 2024. HOME BANKING PROVIDED TO THE MEMBERSHIP REPRESENTED A COST OF APPROXIMATELY $ 1,633,000 INCURRED DURING THE YEAR ENDED DECEMBER 31, 2024. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 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 13751 0 1 249 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 0 1 1 1 1 1 0 X HELEN PUCKETT 4097268240 PO BOX 1366 NEDERLAND TX 77627 GLENN JOHNSON CHAIRPERSON 1.00 X 0 0 0 JAMES SAXON SECRETARY TREASURER 1.00 X 0 0 0 JOE DICKSON FIRST VICE CHAIRPERSON 1.00 X 0 0 0 JOHN COMEAUX SECOND VICE CHAIRPERSON 1.00 X 0 0 0 LOUIS ANSELMO BOARD MEMBER 0.50 X 0 0 0 HILTON FERGUSON JR BOARD MEMBER 0.50 X 0 0 0 KAROL RUSSELL BOARD MEMBER 0.50 X 0 0 0 JACK THORNTON BOARD MEMBER 0.50 X 0 0 0 DENNY WINTER BOARD MEMBER 0.50 X 0 0 0 ERIK SHAW PRESIDENT/CEO 40.00 X 508339 0 63689 KENNETH MILLER EXECUTIVE VICE PRESIDENT 40.00 X 362399 0 44868 JENNIFER WEBB EXECUTIVE VICE PRESIDENT 40.00 X 320914 0 33390 KRISTEN BELLANGER EXECUTIVE VICE PRESIDENT 40.00 X 313606 0 46982 AMANDA WHITE SVP OF HUMAN RESOURCES 40.00 X 292054 0 46580 MATTHEW BOREL FINANCIAL ADVISOR 40.00 X 274865 0 49790 CHRISTIE J LUMMUS SENIOR VP LENDING 40.00 X 225628 0 47305 CHASIDY BOHANAN SENIOR VP OPERATIONS 40.00 X 227721 0 44096 MARLA RUCKER VP IT 40.00 X 191248 0 32593 HELEN PUCKETT VP ACCOUNTING 40.00 X 182792 0 31290 CARRIE STRONG VP OF HUMAN RESOURCES 40.00 X 180498 0 10587 KAREN BLUM VP MARKETING 40.00 X 156599 0 28679 ETHAN WORTHY VP BUSINESS LENDING 40.00 X 155694 0 25897 AIMEE SLOTT VP BUSINESS LENDING 40.00 X 153472 0 31049 TONI BROWN AVP LENDING 40.00 X 138815 0 5958 STACI CROAK AVP BRANCH OPERATIONS 40.00 X 134427 0 23152 JARED BYRD BUSINESS ANALYTICS 40.00 X 133139 0 10096 JEREMY MARTINKA AVP IT 40.00 X 133044 0 39019 TAMMY ESTRELLO BRANCH MANAGER 40.00 X 122760 0 6422 4208014 0 621442 34 0 1 0 PSCU INCORPORATED 560 CARILLON PLWY ST PETERSBURG FL 33716 DEBIT/CREDIT CARD PROCESSOR 2010762 TFD CONSULTING 11 GRAND AVENUE WASHINGTON NJ 07882 PROFESSIONAL SERVICES/CONSULTING 1640870 ADRENALINE 195 NEW HAMPSHIRE AVE STE 115 PORTSMOUTH NH 03801 GENERAL CONTRACTOR - CONSTRUCTION 1619210 THE LEE GROUP 1555 DUSTIN CADE DR NEW BRAUNFELS TX 78130 MARKETING FIRM 1536101 NCR 864 SPRING ST NW ATLANTA GA 30308 ATM/ITM SERVICING 1352379 43 LOAN RECEIVABLE 522100 48359517 48359517 FEES, CHARGES, OTHER 522100 17215996 17215996 65575513 3265688 3265688 FINANCE & INSURANCE 520000 103460 103460 103460 68944661 65575513 103460 3265688 X 50000 25000 4082624 12397334 903175 3721537 1132083 328030 126067 509303 2025810 1788909 4252624 1804547 226764 7395 18639151 106801 2236969 208102 PROVISION FOR LOAN LOSS 5773683 ATM EXPENSE 2116025 LOAN SERVICING 1629094 MAINTENANCE AND REPAIRS 1142100 882509 66115636 13913189 13555101 26648953 35617074 2240642 2366774 16553729 16943669 730638525 769734868 1180287 2935505 58178435 25609538 30010695 32568897 86577114 80309664 111817 91487 32823756 33044042 940698707 987167081 13171050 16765211 30000000 821490233 890236166 864661283 907001377 X 0 0 0 0 76037424 80165704 76037424 80165704 940698707 987167081 2829025 1299255 0 X X 0 1 X 1 0 1631459 1631459 37275302 11480715 25794587 3149720 2183756 965964 16121954 11945067 4176887 32568897 MEMBERS SHARE ACCOUNTS 890236166 890236166 X 68944661 0 68944661 0 68944661 66115636 0 66115636 0 66115636 PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. 1 AMERICAN CANCER SOCIETY 1222 BOSTON AVE NEDERLAND TX 77627 741185665 501(C)(3) 50000 0 TO SUPPORT CANCER RESEARCH, EARLY DETECTION PROGRAMS, AND PATIENT SUPPORT SERVICES 1 0 SCHOLARSHIPS 18 25000 PART I, LINE 2: THE SCHOLARSHIPS ARE AWARDED BASED ON A PANEL OF JUDGES REVIEWING SCHOLARSHIP APPLICATIONS AND ESSAYS. ONCE THE CREDIT UNION RECEIVES CONFIRMATION OF THE STUDENT'S ENROLLMENT AND PAYMENT OF TUITION, THE FUNDS ARE DEPOSITED TO THEIR SAVINGS ACCOUNT. X X 1 1 X X X 0 1 0 ERIK SHAW PRESIDENT/CEO 423869 0 77109 0 7361 0 19139 0 44550 0 572028 0 0 0 KENNETH MILLER EXECUTIVE VICE PRESIDENT 302226 0 56441 0 3732 0 10488 0 34380 0 407267 0 0 0 KRISTEN BELLANGER EXECUTIVE VICE PRESIDENT 265307 0 47703 0 596 0 16692 0 30290 0 360588 0 0 0 JENNIFER WEBB EXECUTIVE VICE PRESIDENT 272615 0 47703 0 596 0 16246 0 17144 0 354304 0 0 0 AMANDA WHITE SVP OF HUMAN RESOURCES 246712 0 44993 0 349 0 15616 0 30964 0 338634 0 0 0 MATTHEW BOREL FINANCIAL ADVISOR 274172 0 481 0 212 0 17471 0 32319 0 324655 0 0 0 CHRISTIE J LUMMUS SENIOR VP LENDING 197513 0 27851 0 264 0 12925 0 34380 0 272933 0 0 0 CHASIDY BOHANAN SENIOR VP OPERATIONS 200033 0 27512 0 176 0 9141 0 34955 0 271817 0 0 0 MARLA RUCKER VP IT 162867 0 27772 0 609 0 10115 0 22478 0 223841 0 0 0 HELEN PUCKETT VP ACCOUNTING 155839 0 26750 0 203 0 6553 0 24737 0 214082 0 0 0 CARRIE STRONG VP OF HUMAN RESOURCES 156357 0 23952 0 189 0 9083 0 1504 0 191085 0 0 0 KAREN BLUM VP MARKETING 133459 0 22459 0 681 0 7199 0 21480 0 185278 0 0 0 AIMEE SLOTT VP BUSINESS LENDING 130491 0 22824 0 157 0 8196 0 22853 0 184521 0 0 0 ETHAN WORTHY VP BUSINESS LENDING 141125 0 14478 0 91 0 8652 0 17245 0 181591 0 0 0 JEREMY MARTINKA AVP IT 112156 0 20749 0 139 0 7590 0 31429 0 172063 0 0 0 STACI CROAK AVP BRANCH OPERATIONS 114112 0 20125 0 190 0 7130 0 16022 0 157579 0 0 0 PART I, LINE 4B THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO THE PRESIDENT/CEO, ERIK SHAW, EVP, KENNETH MILLER, EVP, KRISTEN BELLANGER, AND EVP, JENNIFER WEBB, THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE UNDERLYING LIFE INSURANCE POLICY TO SUPPLEMENT RETIREMENT INCOME. THESE DRAWS ARE TAX FREE FOR THE PARTICIPANTS. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. ERIK SHAW PRESIDENT/CEO TO FUND LIFE INSURANCE POLICY X 4500000 5144771 0 1 1 KENNETH MILLER EXECUTIVE VP TO FUND LIFE INSURANCE POLICY X 3200000 3725694 0 1 1 KRISTEN BELLANGER COO/EVP TO FUND LIFE INSURANCE POLICY X 3700000 3930376 0 1 1 JENNIFER WEBB CHIEF ADMINISTRATIVE OFFICER/EVP TO FUND LIFE INSURANCE POLICY X 3900000 4142828 0 1 1 16943669 FORM 990, SCH L, PART II THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." ALTHOUGH THE IRS REQUIRES REPORTING IN PART II AS A LOAN TO AN INTERESTED PARTY, THIS IS NOT AN ACTUAL LOAN. THERE IS NO TRANSFER OF FUNDS TO THE PARTICIPANTS NOR AN OBLIGATION TO REPAY THE FUNDS. INSTEAD THE CREDIT UNION RECOVERS ANY OUTLAYS, PLUS INTEREST, FROM THE UNDERLYING POLICY. THAT IS, THE CREDIT UNION DEPOSITS FUNDS DIRECTLY INTO A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S OUTLAYS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. FORM 990, PART VI, SECTION A, LINE 6 EVERY CLIENT THAT HAS AN ACCOUNT WITH OUR CREDIT UNION IS ALSO A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A OUR BOARD OF DIRECTORS ARE ELECTED BY A VOTE OF THE MEMBERSHIP. ANNUALLY, IF THERE IS AN OPEN POSITION, THE NOMINATING COMMITTEE WILL PUT FORTH THE CANDIDATES WHICH OUR MEMBERS CAN VOTE ON DURING THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY A THIRD-PARTY CPA FIRM. A DRAFT OF THE RETURN IS REVIEWED BY THE CEO, SENIOR VICE PRESIDENT OF HUMAN RESOURCES AND THE VP ACCOUNTING FOR ACCURACY PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C COMPLIANCE TRAINING IS PERFORMED ANNUALLY. EACH EMPLOYEE / OFFICER SIGNS OFF THEY HAVE REVIEWED AND UNDERSTAND THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 FIVEPOINT UTILIZES A THIRD PARTY TO PROVIDE INDUSTRY STANDARD AND REGIONAL SPECIFIC SALARY RANGES FOR ALL STAFF. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 24E DEBIT/CREDIT EXPENSES 427,929. TRAINING/DEVELOPMENT/EDUCATION 240,047. MISCELLANEOUS 214,533. FORM 990, PART XII, LINE 2C: A COMMITTEE EXISTS THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF THE ANNUAL FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FIVEPOINT FINANCIAL SERVICES LLC PO BOX 1366 NEDERLAND TX 77627 464687469 FINANCIAL SERVICES (INACTIVE) TX FIVEPOINT CREDIT UNION FIVEPOINT INSURANCE AGENCY LLC PO BOX 1366 NEDERLAND TX 77627 611739967 INSURANCE (INACTIVE) TX FIVEPOINT FINANCIAL SERVICES LLC