2025-11-17T10:31:27+00:00 2024-12-31 331498605 Plante & Moran PLLC 10 SOUTH RIVERSIDE PLAZA 9TH FLOOR CHICAGO IL 60606 990 2024-01-01 741115584 RAVE FINANCIAL CREDIT UNION RAVE 4099245151 PO BOX 12849 BEAUMONT TX 77726 T PHILLIP BRENT CHIEF LEGAL COUNSEL 2025-11-17 false DAVID LOWENTHAL CPA P00378651 3122071040 2025-11-14 2024 2025-03-06 01:10:19Z T PHILLIP BRENT PO BOX 12849 BEAUMONT TX 77726 68895302 false X WWW.BANKWITHRAVE.COM X 1935 TX To enrich People's Lives One Experience at a Time. 10 10 353 10 152510 0 56102913 62796215 5830357 5680727 262388 345023 62195658 68821965 115786 139755 0 22826249 25540172 0 0 29619531 38701415 52561566 64381342 9634092 4440623 1107097765 1080320770 965504357 934286739 141593408 146034031 To enrich people's lives one experience at a time. false false MEETS THE FINANCIAL NEEDS OF ITS MEMBERS BY OFFERING LOANS, DEPOSITS, AND OTHER FINANCIAL PRODUCTS. OFFERS AUTOMATED TELLER MACHINES, DEBIT CARDS, MONEY ORDERS, CHECK CASHING, TRAVELERS CHECKS, OVERDRAFT PROTECTION/COURTESY PAY, BILL PAY, AND VARIOUS INSURANCE AND INVESTMENT PROGRAMS. PROVIDES FINANCIAL EDUCATION BY OFFERING FINANCIAL HEALTH SEMINARS AND SERVICES SUCH AS CREDIT SCORE ANALYSIS, CAR BUYING 101, BUDGET PLANNING AND MORE. 0 false false false false false false false false true false true false false false true false true false false false false false false false false false false true true true false false false false false true false false false false false false false false false false false false false false true 14771 0 true 353 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 true true true true false false X T PHILLIP BRENT 4099245012 3535 CALDER AVE BEAUMONT TX 77706 GARY WALDROP CHAIRMAN 1.0 0.0 X X 0 0 0 PAUL WHEELINGTON 1ST VICE CHAIRMAN 1.0 0.0 X X 0 0 0 RAUL LITO MORALES SECRETARY/TREASURER 1.0 0.0 X X 0 0 0 RICHARD D NEWTON AUDIT COMMITTEE CHAIR 1.0 0.0 X X 0 0 0 TONY LUCENTI 2ND VICE CHAIRMAN 1.0 0.0 X X 0 0 0 Brandon Rascoe DIRECTOR - PART YEAR 1.0 0.0 X 0 0 0 BRANDON ROSE DIRECTOR 1.0 0.0 X 0 0 0 BRIAN ALLEN DIRECTOR 1.0 0.0 X 0 0 0 CODY BURRELL DIRECTOR 1.0 0.0 X 0 0 0 FLOYD PRICE DIRECTOR 1.0 0.0 X 0 0 0 RAYMOND NALLIE DIRECTOR 1.0 0.0 X 0 0 0 CODY BUCHHOLZ CHIEF MARKETING OFFICER 40.0 0.0 X 255711 0 42409 JOHN DOUCET PRESIDENT/CEO 40.0 0.0 X 431443 0 78425 JONATHAN E HASKETT JR CHIEF FINANCIAL OFFICER 40.0 0.0 X 265393 0 55799 KEISHA SMITH CHIEF EXPERIENCE OFFICER 40.0 0.0 X 268018 0 40849 LADEDRA JONES CHIEF TECHNOLOGY OFFICER 40.0 0.0 X 266746 0 43214 PHILLIP BRENT CHIEF LEGAL COUNSEL 40.0 0.0 X 268737 0 31360 ALLISON DEYOUNG VP OF HUMAN RESOURCES 40.0 0.0 X 172829 0 36821 AMANDA LEBLANC VP OF EXPERIENCE CENTERS 40.0 0.0 X 157684 0 21140 DUSTIN WILLIAMS VP OF FINANCE & ANALYTICS 40.0 0.0 X 172651 0 27373 LANA FLOYD VP OF CONSUMER LENDING 40.0 0.0 X 145988 0 27637 PIERCE HARRINGTON AVP SR. COMMERCIAL LENDER 40.0 0.0 X 179906 0 30935 BROOKE COLLINS VP OF VIRUTAL SERVICES 40.0 0.0 X 140259 0 35809 CARI RIZZATO AVP OF SUPPORT SERVICES 40.0 0.0 X 115122 0 37817 JEFF KELLUM SR. SYSTEMS & NETWORK MANAGER 40.0 0.0 X 118531 0 23964 JENNIFER WILLETT COMMERCIAL LENDING & SERVICES MANAGER 40.0 0.0 X 114984 0 33282 LATISHA ADKINS VP OF PROJECTS AND INNOVATION 40.0 0.0 X 137824 0 17027 3211826 0 583861 30 false true false JACK HENRY & ASSOCIATES 663 W HWY 60 MONETT MO 65708 CORE SYSTEM 3740486 NCR 14181 COLLECTIONS CENTER DR CHICAGO IL 60693 ONLINE & MOBILE BANKING 1146335 GERALD CONDON PROPERTIES LTD 550 IH SOUTH STE 101 BEAUMONT TX 77707 GENERAL CONTRACTOR 1104701 MANNINGS OFFICE SOLUTIONS 1510 N 7TH ST BEAUMONT TX 77703 SUPPLIES VENDOR 380838 TRUSTAGE 5910 MINERAL POINT RD MADISON WI 53705 PROPERTY & BUSINESS LIABILITY INSURANCE 267160 36 0 LOAN INTEREST 522100 44508650 44508650 FEES, CHARGES, OTHER 522100 18287565 18287565 0 0 0 0 62796215 5680727 5680727 265850 73337 192513 0 192513 192513 0 0 NON-MEMBER ATM INCOME 525990 152510 152510 0 0 0 0 152510 68821965 68476942 152510 192513 115755 24000 3021068 16545779 956860 3605947 1410518 54974 61884 98629 1228180 12313885 1900306 116741 45478 16835035 2080281 335139 PROVISION FOR LOAN LOSS 3040321 LOAN SERVICING 484030 FEDERAL OPERATING FEE 106532 0 64381342 17950114 22301395 101311413 57321198 219587 433480 3847757 4062600 0 0 805458499 826239558 1997168 2012625 68589551 23540868 44666495 45048683 94361649 87208055 9952100 9732800 0 27332983 25960376 1107097765 1080320770 11765707 10857758 458303 568960 962703 0 0 953280347 921897318 965504357 934286739 X 141593408 146034031 141593408 146034031 1107097765 1080320770 4440623 0 X false true true false false true X 12912938 12912938 39528306 11428034 28100272 975111 159761 815350 15173196 11953073 3220123 45048683 Federal Income Taxes MEMBERS' SHARES AND SAVINGS ACCOUNTS 827699318 NONMEMBER CERTIFICATES OF DEPOSIT 9198000 BORROWINGS FROM FHLB 85000000 921897318 68821965 0 0 68821965 0 0 68821965 64381342 0 0 64381342 0 0 64381342 Schedule D, Part IV, Line 2b Explanation of escrow agreement ESCROW ACCOUNTS ARE MAINTAINED FOR MORTGAGE LOANS. true AMERICAN CANCER SOCIETY 270 PEACHTREE ST NW STE 1300 ATLANTA GA 30303 741185665 501(C)(3) 17776 0 N/A N/A SPONSORSHIP GREATER BEAUMONT CHAMBER OF COMMERCE 1110 PARK ST BEAUMONT TX 77701 740504300 501(C)(6) 5750 0 N/A N/A SPONSORSHIP UNITED WAY OF BEAUMONT 700 NORTH ST STE H BEAUMONT TX 77701 741200117 501(C)(3) 6000 0 N/A N/A SPONSORSHIP BEAUMONT CHILDRENS MUSEUM 701 MAIN ST BEAUMONT TX 77701 352294669 501(C)(3) 5000 0 N/A N/A SPONSORSHIP CHAMBERS COUNTY CHILDRENS MUSEUM 11250 EAGLE DRIVE MONT BELVIEU TX 77523 301211457 501(C)(3) 7000 0 N/A N/A SPONSORSHIP 4 1 STUDENT SCHOLARSHIPS 8 24000 0 N/A N/A Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds WE PARTNER WITH AND HELP SPONSOR NON-PROFIT ORGANIZATIONS THAT ARE GIVING BACK IN OUR COMMUNITIES. X true true X X X false true false JOHN DOUCET PRESIDENT/CEO 414144 0 17299 0 0 0 63377 0 15048 0 509868 0 0 0 KEISHA SMITH CHIEF EXPERIENCE OFFICER 246084 0 21934 0 0 0 31597 0 9252 0 308867 0 0 0 JONATHAN E HASKETT JR CHIEF FINANCIAL OFFICER 243458 0 21935 0 0 0 42131 0 13668 0 321192 0 0 0 LADEDRA JONES CHIEF TECHNOLOGY OFFICER 244787 0 21959 0 0 0 42176 0 1038 0 309960 0 0 0 PHILLIP BRENT CHIEF LEGAL COUNSEL 246806 0 21931 0 0 0 21952 0 9408 0 300097 0 0 0 CODY BUCHHOLZ CHIEF MARKETING OFFICER 234554 0 21157 0 0 0 21997 0 20412 0 298120 0 0 0 PIERCE HARRINGTON AVP SR. COMMERCIAL LENDER 164596 0 15310 0 0 0 15455 0 15480 0 210841 0 0 0 DUSTIN WILLIAMS VP OF FINANCE & ANALYTICS 158498 0 14153 0 0 0 18565 0 8808 0 200024 0 0 0 ALLISON DEYOUNG VP OF HUMAN RESOURCES 158657 0 14172 0 0 0 22925 0 13896 0 209650 0 0 0 LANA FLOYD VP OF CONSUMER LENDING 132131 0 13857 0 0 0 26617 0 1020 0 173625 0 0 0 AMANDA LEBLANC VP OF EXPERIENCE CENTERS 144528 0 13156 0 0 0 11792 0 9348 0 178824 0 0 0 BROOKE COLLINS VP OF VIRUTAL SERVICES 128644 0 11615 0 0 0 15757 0 20052 0 176068 0 0 0 CARI RIZZATO AVP OF SUPPORT SERVICES 105234 0 9888 0 0 0 22817 0 15000 0 152939 0 0 0 LATISHA ADKINS VP OF PROJECTS AND INNOVATION 126949 0 10875 0 0 0 14699 0 2328 0 154851 0 0 0 Schedule J, Part I, Line 1a Travel for companions BOARD OF DIRECTORS ARE ALLOWED TO BRING THEIR PARTNER WITH THEM. THE CREDIT UNION PAYS FOR AIRLINE TRAVEL IF IT REQUIRES FLYING AND THEY GET A DAILY PER DIEM. THIS IS NOT INCLUDED IN TAXABLE WAGES. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan THE FOLLOWING INDIVIDUALS PARTICIPATED IN A 457(F) SUPPLEMENTAL NON-QUALIFIED DEFERRED COMPENSATION PLAN BUT DID NOT RECEIVE A DISTRIBUTION OR HAVE AN AMOUNT VEST IN THE PLAN. UNDER THE PLAN, AMOUNTS ARE SUBJECT TO CLIFF VESTING. JONATHAN E HASKETT JR KEISHA SMITH LADEDRA JONES IN ADDITION, JOHN DOUCET PARTICIPATED IN A SPLIT DOLLAR COLLATERAL INSURANCE SUPPEMENTAL RETIREMENT PLAN - THE LOAN RELATED TO THIS PLAN IS SHOWN ON SCHEDULE L. JOHN DOUCET PRESIDENT SPLIT DOLLAR LIFE INSURANCE LOAN X 3750000 4062600 false true true 4062600 Form 990, Part VI, Line 6 Classes of members or stockholders ALL ACCOUNT HOLDERS ARE REFERRED TO AS MEMBERS Form 990, Part VI, Line 7a Members or stockholders electing members of governing body OUR MEMBERSHIP VOTES ON OUR BOARD OF DIRECTORS Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders MEMBERS CAN CALL A SPECIAL MEETING, NOMINATE SOMEONE TO FILL A VACANCY ON THE BOARD, AND RECALL A DIRECTOR OR THE ENTIRE BOARD Form 990, Part VI, Line 11b Review of form 990 by governing body A REVIEW IS CONDUCTED BY THE CFO PRIOR TO SUBMISSION TO THE IRS. THE RETURNS ARE MADE AVAILABLE TO THE BOARD OF DIRECTORS FOR REIVEW. Form 990, Part VI, Line 12c Conflict of interest policy ALL EMPLOYEES SIGN AN ACKOWLEDGEMENT OF THE CREDIT UNION POLICIES UPON HIRE WITH EACH REVISION. CONFLICT OF INTEREST IS INCLUDED. BOARD MEMBERS SIGN A CODE OF ETHICS AGREEMENT WHICH SPECIFICALLY ADDRESSES CONFLICT OF INTEREST. EMPLOYEES ARE MONITORED BY SUPERVISOR TO ENSURE POLICY COMPLIANCE. DIRECTORS EXCUSE THEMSELVES FROM VOTING IF THERE IS A CONFLICT. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE CREDIT UNION'S VP OF HUMAN RESOURCES USES THE SYSTEM COMPEASE TO GRADE THE CEO POSITION AND GET SALARY RANGES FOR THE CEO POSITION THAT IS REVIEWED BY OUR SALARY COMMITTEE AND APPROVED EACH YEAR. Form 990, Part VI, Line 15b Process to establish compensation of other employees THE CREDIT UNION'S VP OF HUMAN RESOURCES USES THE SYSTEM COMPEASE TO GRADE EACH POSITION AND GET SALARY RANGES FOR EACH POSITION THAT IS REVIEWED BY OUR SALARY COMMITTEE AND APPROVED EACH YEAR. Form 990, Part VI, Line 19 Required documents available to the public MONTHLY FINANCIALS ARE POSTED IN ALL LOBBIES. OTHER DOCUMENTS AND POLICIES ARE AVAILABLE FOR REVIEW UPON REQUEST. Form 990, Part X, Line 5 SCHEDULE L IS NOT REQUIRED FOR LOANS RECEIVABLE BALANCES ON FORM 990, PART X, LINE 5 IF THE LOANS ARE MADE BY THE CREDIT UNION TO THE DIRECTORS, OFFICERS, AND KEY EMPLOYEES ON THE SAME TERMS OFFERED TO OTHER MEMBERS OF THE CREDIT UNION. THEREFORE, THE CREDIT UNION HAS INCLUDED $3,406,236 OF RECEIVABLES FROM CURRENT OFFICERS, DIRECTORS, TRUSTEES, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES FOR YEAR ENDED DECEMBER 31, 2024 WITHIN FORM 990, PART X, LINE 7.