2025-05-01T11:40:47-05:00 2024-12-31 910189318 MOSS ADAMS LLP 601 W RIVERSIDE AVENUE STE 1800 SPOKANE WA 99201 990 2024-01-01 626039479 EASTMAN CREDIT UNION EAST 4232298200 PO BOX 1989 KINGSPORT TN 37662 KELLY PRICE PRESIDENT, CHIEF EXECUTIVE OFFICER 4232298200 2025-05-01 1 1 EMINA O CRESSWELL CPA P01217304 5097472600 2025-04-29 2024 2025-03-06 01:10:19Z KELLY PRICE PO BOX 1989 KINGSPORT TN 37662 536718179 0 X WWW.ECU.ORG X 1934 TN OPERATED DURING 2024 AS A STATE CHARTERED CREDIT UNION WHOSE PURPOSE IS (CONTINUED ON SCHEDULE O) TO BE THE PREFERRED FINANCIAL INSTITUTION IN THE COMMUNITIES WE SERVE BY PROVIDING FINANCIAL PRODUCTS AND SERVICES WHICH ADD VALUE TO MEMBERS, GUIDED BY CREDIT UNION CO-OPERATIVE VALUES AND SERVICE EXCELLENCE EXPECTATIONS. 9 8 1161 9 755463 16960 0 0 395732615 477914261 40180959 57958083 177184 108333 436090758 535980677 672355 1913703 0 0 86533262 93916398 0 0 0 196474478 307524182 283680095 403354283 152410663 132626394 8017428459 9097283047 6906350677 7851447210 1111077782 1245835837 X OPERATED DURING 2024 AS A STATE CHARTERED CREDIT UNION WHOSE PURPOSE IS TO BE THE PREFERRED FINANCIAL INSTITUTION IN THE COMMUNITIES WE SERVE BY PROVIDING FINANCIAL PRODUCTS AND SERVICES WHICH ADD VALUE TO MEMBERS, GUIDED BY CREDIT UNION (CONTINUED ON SCHEDULE O) CO-OPERATIVE VALUES AND SERVICE EXCELLENCE EXPECTATIONS. 0 0 OPERATED DURING 2024 AS A STATE CHARTERED MUTUALLY OWNED CREDIT UNION THAT PROMOTED THRIFT BY MAINTAINING ACCOUNTS AND ISSUING SHARES RESULTING IN SUPERIOR VALUE. SERVED 343,751 MEMBERS WITH A VARIETY OF DEPOSIT PRODUCTS TOTALING $7,759,700,431. OPERATED DURING 2024 AS A STATE CHARTERED MUTUALLY OWNED CREDIT UNION THAT MADE LOANS TO ITS MEMBERS AT REASONABLE RATES OF INTEREST. MAINTAINED A LOAN PORTFOLIO COMPOSED OF CONSUMER, MORTGAGE, HOME EQUITY, VISA AND MEMBER BUSINESS LOANS THAT TOTALED $7,460,848,289. INVESTED ANY SURPLUS NOT REQUIRED FOR LOANS TO EXERCISE THOSE FUNCTIONS DESCRIBED IN THE LAW OF THE STATE OF TENNESSEE AUTHORIZING THE ORGANIZATION OF CREDIT UNIONS THEREBY FURNISHING OTHER COOPERATIVE FINANCIAL SERVICES TO MEMBERS. 0 0 1 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 991095 0 1 1161 1 1 1 0 0 0 0 0 1 0 X 9 8 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 1 1 X SCOTT DAVIS 4235787587 2021 MEADOWVIEW LANE KINGSPORT TN 37660 JEFF ANDERSON DIRECTOR 3.00 X 0 0 0 GARY BASS DIRECTOR 2.00 X 0 0 0 KRISTIE HAMMONDS DIRECTOR 1.00 X 0 0 0 J ANDREW HATFIELD JR DIRECTOR 2.00 X 0 0 0 E WAYNE KIRK CHAIRMAN OF THE BOARD (THRU 12/24) 5.00 X X 0 0 0 KYLE MACIONE DIRECTOR 2.00 X 0 0 0 BRIAN MILLER SECRETARY/TREASURER 2.00 X X 0 0 0 NORRIS SNEED CHAIRMAN OF THE BOARD (AS OF 12/24) 5.00 X X 0 0 0 JENNIFER STEWART VICE CHAIRMAN OF THE BOARD 2.00 X X 0 0 0 KELLY PRICE PRESIDENT/CEO, DIRECTOR 40.00 X X 1237631 0 98761 TONJA FISH EVP, CHIEF FINANCIAL OFFICER 40.00 X 542933 0 59336 DARRELL DINSMORE EVP, CHIEF ADMINISTRATIVE OFFICER 40.00 X 502700 0 62618 DOLLY LINKOUS VP, CHIEF LENDING OFFICER 40.00 X 399938 0 52952 MATT WIMBERLEY VP, CHIEF LEGAL & RISK OFFICER 40.00 X 346046 0 58554 JEREMIAH LOUNDS VP, CHIEF OPERATING OFFICER 40.00 X 419836 0 58554 RUSSELL AYSCUE VP, CHIEF INFORMATION OFFICER 40.00 X 393216 0 60839 MARK MILLWOOD VP, CHIEF HUMAN RESOURCE OFFICER 40.00 X 343568 0 58239 MATTHEW SMITH VP, CHIEF MARKETING/ANALYTICS OFFICER 40.00 X 263766 0 48861 THOMAS KENNEDY VP, BUSINESS SERVICES 40.00 X 321299 0 64523 MICHELLE CLARK VP ENTERPRISE RISK MANAGEMENT 40.00 X 224410 0 42774 SCOTT DAVIS VP, CONTROLLER 40.00 X 204726 0 44030 JILL ALLEY DIRECTOR, MEMBER CONTACT CENTER 40.00 X 201245 0 46548 CHUCK PERRY VP, BRANCH OPERATIONS 40.00 X 277733 0 41493 OLAN JONES FORMER PRESIDENT/CEO 0.00 X 104931 0 0 5783978 0 798082 139 1 1 0 IDSCOM - INTELLIGENT DOCUMENT SOLUTIONS 747 E WHITCOMB AVENUE MADISON HEIGHTS MI 48071 STATEMENT PROCESSING/MAILING SERVICES 3722199 GOINS RASH CAIN INC 130 REGIONAL PARK DRIVE KINGSPORT TN 37660 CONSTRUCTION MANAGER 2969332 NCR VOYIX CORPORATION 864 SPRING ST NW ATLANTA GA 30308 ONLINE BANKING/BILLPAY SERVICES 2757301 FISERV SOLUTIONS INC PO BOX 934057 ATLANTA GA 31193 SOFTWARE SOLUTIONS SERVICES 2005698 DIEBOLD INC PO BOX 643543 PITTSBURGH PA 15264 ATM/BRANCH MAINTENANCE SERVICES 1402256 111 LOAN INTEREST INCOME 522100 396997495 396997495 FEES AND CHARGES 522100 77553393 76797930 755463 ECUTE TITLE SERVICES 522100 2318723 2318723 OTHER INCOME 522100 1044650 1044650 477914261 57973617 57973617 108333 0 108333 108333 108333 721968 737502 -15534 -15534 -15534 535980677 477158798 755463 58066416 1913703 5008353 64181704 6471333 12877379 5377629 189945 164300 644915 4674372 6619564 18804800 5741535 284630 656796 206219229 6913810 469647 DEPOSIT & LENDING SVCS 29913639 PROVISION FOR LOAN LOSS 26220000 UBI TAXES 7000 403354283 41331768 41893799 831112668 1365629461 6892988026 7460848289 10816113 14388118 186208072 82231042 92797330 103977030 67105448 20264045 81277106 90282305 8017428459 9097283047 85049725 90821196 8626137 6962681 6812674815 7753663333 6906350677 7851447210 X 0 0 0 0 1111077782 1245835837 1111077782 1245835837 8017428459 9097283047 X 132626394 861345 1270316 X 0 1 X 1 0 1000 0 0 1000 1000 1 TENNESSEE CREDIT UNION LEAGUE PAC PO BOX 21550 CHATTANOOGA TN 37424 462728395 1000 PART I-A, LINE 1: EASTMAN CREDIT UNION CONTRIBUTED $1,000 TO THE TENNESSEE CREDIT UNION LEAGUE PAC. 0 1 X 35377197 35377197 98747956 38821036 59926920 2344762 2024440 320322 49303622 41385566 7918056 434535 434535 103977030 STATE CHARTERED CREDIT UNION DEPOSITS 7752737750 LEASE LIABILITY 925583 7753663333 X PART IV, LINE 2B: ECU MAINTAINS ESCROW ACCOUNTS ON THE LOANS IN THE MORTGAGE PORTFOLIO FOR PAYMENT OF PROPERTY TAXES AND HOMEOWNER'S INSURANCE. THE ACCOUNTS ARE TREATED AS OTHER DEPOSIT ACCOUNTS AND EARN INTEREST AT THE REGULAR SHARE ACCOUNT RATE AS LONG AS THE ESCROW BALANCE IS POSITIVE. AMOUNTS ARE DEPOSITED MONTHLY AND PAYMENTS ARE MADE AS NECESSARY DURING THE YEAR. ESCROWS ARE "TRUED" ONCE A YEAR TO PREVENT EXCESS OR CORRECT SHORT-FALLS. PART X, LINE 2: THE CREDIT UNION IS EXEMPT BY STATUTE FROM FEDERAL AND STATE INCOME TAXES ON INCOME RELATED TO ITS EXEMPT FUNCTION. FEDERAL INCOME TAX IS ASSESSED ON NET UNRELATED BUSINESS INCOME AS DEFINED BY THE INTERNAL REVENUE CODE. THE CREDIT UNION FILES AN EXEMPT ORGANIZATION AND UNRELATED BUSINESS INCOME TAX RETURN WITH THE FEDERAL JURISDICTION. ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES DEEMED TO BE UNRELATED TO THE CREDIT UNION'S NONTAXABLE STATUS IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S CONSOLIDATED FINANCIAL POSITION OR RESULTS OF OPERATIONS. FASB ASC 740-10, INCOME TAXES, REQUIRES RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS USING A "MORE-LIKELY-THAN-NOT" APPROACH. AS OF DECEMBER 31, 2024 AND 2023, THE CREDIT UNION DID NOT BELIEVE IT HAD ANY UNCERTAIN TAX POSITIONS THAT WOULD RISE TO THE LEVEL OF HAVING A MATERIAL EFFECT ON ITS CONSOLIDATED FINANCIAL STATEMENTS. THE CREDIT UNION RECORDS INTEREST AND PENALTIES RELATED TO TAX MATTERS IN TAX EXPENSES. 1 APPALACHIA SERVICE PROJECT INC 4523 BRISTOL HIGHWAY JOHNSON CITY TN 37601 620989383 501(C)(3) 1001000 0 HURRICANE HELENE RELIEF/EVENT SPONSORSHIP SECOND HARVEST FOOD BANK OF NE TN PO BOX 3327 JOHNSON CITY TN 37663 621303822 501(C)(3) 101000 0 EXPANSION PROJECT/HURRICANE HELENE RELIEF/EVENT SPONSORSHIP CITY OF KINGSPORT PO BOX 880 KINGSPORT TN 37662 626000323 GOVERNMENT 100000 0 BAYS MOUNTAIN PARK - PLANETARIUM SPONSORSHIP KINGSPORT CHAMBER FOUNDATION INC 400 CLINCHFIELD ST SUITE 100 KINGSPORT TN 37660 581453565 501(C)(6) 47800 0 GENERAL CONTRIBUTION/EVENT SPONSORSHIP AMERICAN RED CROSS - NE TN CHAPTER 660 EASTERN STAR ROAD KINGSPORT TN 37663 530196605 501(C)(3) 33000 0 HURRICANE HELENE RELIEF/GENERAL CONTRIBUTION HOLSTON HABITAT FOR HUMANITY PO BOX 5265 KINGSPORT TN 37663 621288397 INCORPORATED 32000 0 HURRICANE HELENE RELIEF SALVATION ARMY OF JOHNSON CITY PO BOX 1715 JOHNSON CITY TN 37605 580660607 501(C)(3) 30000 0 HURRICANE HELENE RELIEF/GENERAL CONTRIBUTION UNITED WAY OF EAST TN HIGHLANDS 605 W WALNUT STREET SUITE 2 JOHNSON CITY TN 37604 626001105 501(C)(3) 30000 0 HURRICANE HELENE RELIEF/GENERAL CONTRIBUTION BARTER THEATRE PO BOX 867 ABINGDON VA 24212 546000120 501(C)(3) 30000 0 GENERAL CONTRIBUTION KINGSPORT CHAMBER OF COMMERCE 400 CLINCHFIELD STREET SUITE 100 KINGSPORT TN 37660 620446834 501(C)(6) 29675 0 EVENT SPONSORSHIPS FIRST TENNESSEE DEVELOPMENT DISTRICT FOUNDATION INC 3211 NORTH ROAD STREET JOHNSON CITY TN 37601 824338374 501(C)(3) 25000 0 HURRICANE HELENE RELIEF UNICOI COUNTY CHAMBER OF COMMERCE PO BOX 713 ERWIN TN 37650 620864982 NON-PROFIT 25000 0 GENERAL CONTRIBUTION GREAT TEXAS BALLOON RACE PO BOX 3988 LONGVIEW TX 75606 752378187 501(C)(3) 25000 0 EVENT SPONSORSHIP UNITED WAY OF GREATER KINGSPORT 301 LOUIS STREET SUITE 201 KINGSPORT TN 37660 620481461 501(C)(3) 21800 0 GENERAL CONTRIBUTION/EVENT SPONSORSHIP UNITED WAY OF SOUHTWEST VIRGINIA PO BOX 644 ABINGDON VA 24219 540718860 501(C)(3) 20500 0 HURRICANE HELENE RELIEF/EVENT SPONSORSHIP BIRTHPLACE OF COUNTRY MUSIC PO BOX 1927 BRISTOL VA 24203 621580405 501(C)(3) 20000 0 EVENT SPONSORSHIPS GREENE COUNTY UNITED WAY 115 ACADEMY STREET GREENEVILLE TN 37743 626015767 501(C)(3) 17000 0 HURRICANE HELENE RELIEF/GENERAL CONTRIBUTION KIWANIS CLUB OF KINGSPORT FOUNDATION PO BOX 3506 KINGSPORT TN 37664 271966427 501(C)(3) 25750 0 GENERAL CONTRIBUTION/EVENT SPONSORSHIP GREATER KINGSPORT FAMILY YMCA 1840 MEADOWVIEW PKWY KINGSPORT TN 37660 581564232 501(C)(3) 12000 0 GENERAL CONTRIBUTION NORTHEAST TENNESSEE CHAPTER OF CREDIT UNIONS 201 E NEW ST KINGSPORT TN 37660 581698685 501(C)(3) 11000 0 HURRICANE HELENE RELIEF FRIENDS IN NEED HEALTH CENTER INC 1916 BROOKSIDE DRIVE KINGSPORT TN 37660 621541637 501(C)(3) 11000 0 GENERAL CONTRIBUTION/EVENT SPONSORSHIP BRISTOL CHAMBER OF COMMERCE PO BOX 519 BRISTOL VA 24203 540150315 501(C)(6) 10243 0 GENERAL CONTRIBUTION/EVENT SPONSORSHIP COALITION FOR KIDS INC 2423 SUSANNAH STREET JOHNSON CITY TN 37601 621765487 501(C)(3) 10238 0 GENERAL CONTRIBUTION JOHNSON CITY AREA HOME BUILDERS ASSOCIATION INC 207 N BOONE ST STE 12 JOHNSON CITY TN 37867 620928145 501(C)(6) 10000 0 EVENT SPONSORSHIP PROVIDENCE MEDICAL CLINIC 441 CLAY STREET KINGSPORT TN 37660 264547646 501(C)(3) 10000 0 GENERAL CONTRIBUTION CARTER FAMILY MEMORIAL MUSIC CENTER INC PO BOX 111 HILTONS VA 24258 541119044 501(C)(3) 10000 0 EVENT SPONSORSHIP NORTHEAST TENNESSEE ASSOCIATION OF REALTORS INC 105 TRI CITIES BUSINESS PARKWAY GRAY TN 37615 620701996 501(C)(6) 7500 0 EVENT SPONSORSHIP UNITED WAY OF BRISTOL TNVA PO BOX 696 BRISTOL TN 37621 620476656 501(C)(3) 7000 0 GENERAL CONTRIBUTION UNITED WAY OF HAWKINS COUNTY 405 S ARMSTRONG ROAD SUITE 8 ROGERSVILLE TN 37857 620731420 501(C)(3) 7000 0 GENERAL CONTRIBUTION YWCA NE TNSW VA 106 STATE STREET BRISTOL TN 37620 620488044 501(C)(3) 6500 0 GENERAL CONTRIBUTION 21 9 PART I, LINE 2: GRANTS WILL BE RESEARCHED BY THE ECU STAFF, APPROVED BY THE CEO/PRESIDENT AND REPORTED TO THE BOARD OF DIRECTORS ANNUALLY. ECU MAINTAINS RECORDS SUBSTANTIATING AMOUNTS PAID TO QUALIFYING ORGANIZATIONS AND CONFIRMS THE EXEMPT STATUS OF THE GRANTEE. ECU DOES NOT MONITOR THE FUNDS USE, AS USE OF FUNDS IS AT THE DISCRETION OF THE GRANTEE. X X 1 1 X X X X 0 0 0 KELLY PRICE PRESIDENT/CEO, DIRECTOR 829666 0 371250 0 36715 0 76700 0 22061 0 1336392 0 0 0 TONJA FISH EVP, CHIEF FINANCIAL OFFICER 404614 0 121424 0 16895 0 47700 0 11636 0 602269 0 0 0 DARRELL DINSMORE EVP, CHIEF ADMINISTRATIVE OFFICER 376237 0 112610 0 13853 0 45700 0 16918 0 565318 0 0 0 JEREMIAH LOUNDS VP, CHIEF OPERATING OFFICER 336429 0 76799 0 6608 0 31600 0 26954 0 478390 0 0 0 RUSSELL AYSCUE VP, CHIEF INFORMATION OFFICER 311468 0 71475 0 10273 0 34435 0 26404 0 454055 0 0 0 DOLLY LINKOUS VP, CHIEF LENDING OFFICER 319137 0 72072 0 8729 0 41700 0 11252 0 452890 0 0 0 MATT WIMBERLEY VP, CHIEF LEGAL & RISK OFFICER 279025 0 64235 0 2786 0 31600 0 26954 0 404600 0 0 0 MARK MILLWOOD VP, CHIEF HUMAN RESOURCE OFFICER 276465 0 62967 0 4136 0 34435 0 23804 0 401807 0 0 0 THOMAS KENNEDY VP, BUSINESS SERVICES 264507 0 51247 0 5545 0 36781 0 27742 0 385822 0 0 0 CHUCK PERRY VP, BRANCH OPERATIONS 229109 0 42795 0 5829 0 30241 0 11252 0 319226 0 0 0 MATTHEW SMITH VP, CHIEF MARKETING/ANALYTICS OFFICE 214004 0 48746 0 1016 0 22977 0 25884 0 312627 0 0 0 MICHELLE CLARK VP ENTERPRISE RISK MANAGEMENT 194132 0 26666 0 3612 0 27463 0 15311 0 267184 0 0 0 SCOTT DAVIS VP, CONTROLLER 175459 0 25706 0 3561 0 21367 0 22663 0 248756 0 0 0 JILL ALLEY DIRECTOR, MEMBER CONTACT CENTER 170258 0 25019 0 5968 0 24487 0 22061 0 247793 0 0 0 OLAN JONES FORMER PRESIDENT/CEO 104931 0 0 0 0 0 0 0 0 0 104931 0 0 0 PART I, LINE 1A THE CREDIT UNION'S EXPENSE POLICY INCLUDES AN ACCOUNTABLE PLAN WHEREBY BUSINESS EXPENSES ARE PAID BY THE CREDIT UNION AND WHEREBY ANY PERMISSIBLE TRAVEL FOR COMPANIONS PERMITTED BY STATE AND FEDERAL CREDIT UNION REGULATIONS ARE INCLUDED AS INCOME TO THE OFFICIAL. FORM 990, PART VI, SECTION A, LINE 6 EASTMAN CREDIT UNION IS A MEMBER OWNED NON-PROFIT TAX EXEMPT CORPORATION IN WHICH EACH MEMBER OWNS AN EQUAL SHARE. FORM 990, PART VI, SECTION A, LINE 7A AT THE ANNUAL MEETING OF THE MEMBERS, EASTMAN CREDIT UNION'S MEMBERS ELECT INDIVIDUALS FROM THE CREDIT UNION'S MEMBERSHIP TO SERVE ON THE BOARD OF DIRECTORS FOR THREE YEAR TERMS. IN THE EVENT THERE IS A VACANCY ON THE BOARD, THE DIRECTORS MAY APPOINT AN INTERIM MEMBER TO SERVE OUT THE TERM OF THE VACANT BOARD POSITION. FORM 990, PART VI, SECTION A, LINE 7B EASTMAN CREDIT UNION'S MEMBERS HAVE THE RIGHT TO VOTE, ON A PER CAPITA BASIS, ON DISSOLUTION OF THE CREDIT UNION, MERGER WITH ANOTHER CREDIT UNION, EXPULSION OF A MEMBER, CONVERSION FROM A STATE TO A FEDERALLY CHARTERED CREDIT UNION, CONVERSION TO ANOTHER TYPE OF FINANCIAL INSTITUTION, OR TO OVERRULE A DECISION OF THE CREDIT UNION'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B EASTMAN CREDIT UNION'S FORM 990 IS PREPARED BY AN OUTSIDE CPA FIRM AND THEN REVIEWED BY ECU'S PRESIDENT/CEO, CFO, CHIEF LEGAL AND RISK OFFICER, CHIEF HUMAN RESOURCES OFFICER, AND CONTROLLER. A COMPLETE COPY OF THIS FORM 990 IS PROVIDED TO ALL MEMBERS OF THE ECU BOARD OF DIRECTORS BEFORE FILING THE FORM. FORM 990, PART VI, SECTION B, LINE 12C PRIOR TO EMPLOYMENT ALL EMPLOYEES AND OFFICERS OF EASTMAN CREDIT UNION ARE REQUIRED TO DISCLOSE ALL POTENTIAL CONFLICTS OF INTEREST AND MUST AGREE TO UPDATE THE DISCLOSURE IN THE EVENT ANY CONFLICTS ARISE SUBSEQUENT TO EMPLOYMENT. PRIOR TO SERVING ON THE BOARD OF DIRECTORS, ALL PROSPECTIVE BOARD MEMBERS ARE REQUIRED TO DISCLOSE ALL POTENTIAL CONFLICTS OF INTEREST. ALL EMPLOYEES AND MEMBERS OF THE BOARD OF DIRECTORS ARE ALSO REQUIRED TO COMPLETE AN UPDATED DISCLOSURE AT LEAST ANNUALLY. IT IS THE RESPONSIBILITY OF THE PRESIDENT OR CHAIR OF THE BOARD OF DIRECTORS TO DETERMINE THE RESOLUTION OF ALL ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. MEMBERS OF THE BOARD OF DIRECTORS DO NOT PARTICIPATE IN THE DELIBERATIONS OR VOTING ON MATTERS WHERE AN ACTUAL OR APPARENT CONFLICT OF INTEREST EXISTS. FORM 990, PART VI, SECTION B, LINE 15 EASTMAN CREDIT UNION ANNUALLY PARTICIPATES IN EXECUTIVE COMPENSATION SURVEYS OF REPUTABLE COMPENSATION CONSULTANTS BY PROVIDING CURRENT BASE AND TOTAL COMPENSATION INFORMATION OF THE ECU OFFICERS. THE CONSULTING GROUPS FOCUS ON COMPARATIVE COMPENSATION INFORMATION WITHIN THE CREDIT UNION INDUSTRY. AS A RESULT OF PARTICIPATION, ECU RECEIVES DATA COMPILATION REPORTS AND ANALYSES FROM THE STUDIES CONDUCTED BY THESE COMPENSATION EXPERTS. RANKING AND COMPARATIVE INFORMATION FOR EACH RELEVANT POSITION IS PROVIDED IN BOTH STUDIES. ECU STUDIES AND UTILIZES PEER GROUP INFORMATION RELATIVE TO ECU'S ASSET SIZE AS BENCHMARK DATA. EASTMAN CREDIT UNION WORKS WITH CONSULTANTS FROM EACH RESPECTIVE CONSULTING FIRM TO OBTAIN SPECIAL DATA CUTS, CLARIFYING INFORMATION, AND ADVICE REGARDING MATCHING OF ECU POSITIONS TO BENCHMARK JOBS, INDUSTRY AVERAGE INCREASE IN EXECUTIVE COMPENSATION, AND OTHER INFORMATION RELATED TO EXECUTIVE BASE AND TOTAL COMPENSATION FACTORS. THE CHIEF HUMAN RESOURCES OFFICER PROVIDES A RECAP OF COMPENSATION STUDY INFORMATION IN A PRESENTATION FORMAT DURING A MEETING OF THE COMPENSATION COMMITTEE (SUBCOMMITTEE OF THE ECU BOARD OF DIRECTORS). THE COMPENSATION COMMITTEE REVIEWS THE DATA AND DISCUSSES AND PRESENTS QUESTIONS RELATED TO THE INFORMATION PROVIDED. WHEN NECESSARY, THE CHIEF HUMAN RESOURCES OFFICER WILL FOLLOW UP WITH COMPENSATION CONSULTANTS FOR ADDITIONAL INFORMATION TO BE PRESENTED FOR DISCUSSION AND CONSIDERATION. THE COMPENSATION COMMITTEE APPROVES AN AVERAGE SALARY INCREASE FOR THE CEO'S DIRECT REPORTS AND AUTHORIZES THE CEO TO AWARD INDIVIDUAL SALARY INCREASES ACCORDINGLY. FINAL AWARDS ARE DOCUMENTED AND SIGNED BY BOTH THE CEO AND THE CHAIR OF THE COMPENSATION COMMITTEE. THIS DOCUMENT IS SUBMITTED TO PAYROLL VIA THE CHIEF HUMAN RESOURCES OFFICER. THE COMPENSATION COMMITTEE MEETS IN EXECUTIVE SESSION TO FURTHER CONSIDER COMPENSATION DATA FOR THE CEO. FINAL AWARD IS DOCUMENTED AND SIGNED AS APPROVED BY THE CHAIR OF THE COMPENSATION COMMITTEE. THIS DOCUMENT IS SUBMITTED TO PAYROLL VIA THE CHIEF HUMAN RESOURCES OFFICER. ORIGINAL DOCUMENTS ARE MAINTAINED ON FILE IN THE HUMAN RESOURCES DEPARTMENT. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND OTHER RECORDS AND POLICIES OF ECU ARE NOT GENERALLY MADE AVAILABLE TO THE PUBLIC. ECU MEMBERS ARE ENTITLED TO INSPECT CERTAIN RECORDS OF THE CREDIT UNION AFTER COMPLYING WITH THE REQUIREMENTS OF STATE LAW. NCUA PUBLISHES FINANCIAL INFORMATION QUARTERLY. THE INFORMATION IS ALSO PROVIDED IN THE ANNUAL REPORT. FORM 990, PART XI, LINE 9: NET DEFINED BENEFIT PENSION PLAN COST ADJUSTMENT 760,271. NET POST-RETIREMENT BENEFIT PLAN COST ADJUSTMENT 510,045. ECU TITLE SERVICES LLC 201 S WILCOX DR KINGSPORT TN 37660 464133177 TITLE AND ESCROW SERVICES TN 54471 3826467 EASTMAN CREDIT UNION