TY 2019 Form 990

(A)
Name and title

(B)
Average hours per week (list any hours for related organizations below dotted line)

(D)
Reportable compensation from the organization (W-2/1099-MISC)

(E)
Reportable compensation from related organizations (W-2/1099-MISC)

(F)
Estimated amount of other compensation from the organization and related organizations

(1) JOHN SHIRILLA......................................................................
PRESIDENT/CE

40.00
.................

138,673

10,335

(2) JUDI CHORBA......................................................................
SVP FINANCE/

40.00
.................

78,821

29,119

(3) STEPHEN HALAS......................................................................
EXECUTIVE VP

40.00
.................

98,799

6,927

(4) FRANK ADAMEC......................................................................
DIRECTOR

0.50
.................

(5) NORMAN ALFORD......................................................................
CHAIRMAN

0.50
.................

(6) JAMES JACKSON III......................................................................
SECRETARY

0.50
.................

(7) THOMAS MERRIT JR......................................................................
VICE CHAIRMA

0.50
.................

(8) STEPHEN KADUSKY......................................................................
MEMBERSHIP O

0.50
.................

(9) LOUIS PASTOR......................................................................
TREASURER

0.50
.................

(10) THOMAS ZMRAZEK......................................................................
DIRECTOR

0.50
.................

(A)
Name and title

(B)
Average hours per week (list any hours for related organizations below dotted line)

(D)
Reportable compensation from the organization (W-2/1099-MISC)

(E)
Reportable compensation from related organizations (W-2/1099-MISC)

(F)
Estimated amount of other compensation from the organization and related organizations

(A)
Name and business address

(B)
Description of services

Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization MediumBullet

	(a) Donor advised funds	(b) Funds and other accounts
1	Total number at end of year .........
2	Aggregate value of contributions to (during year)
3	Aggregate value of grants from (during year)
4	Aggregate value at end of year ........


a	Total number of conservation easements ......................	2a
b	Total acreage restricted by conservation easements ....................	2b
c	Number of conservation easements on a certified historic structure included in (a) .....	2c
d	Number of conservation easements included in (c) acquired after 7/25/06, and not on a historic structure listed in the National Register ...	2d


b	If "Yes," explain the arrangement in Part XIII and complete the following table:		Amount
c	Beginning balance .............................	1c
d	Additions during the year ............................	1d
e	Distributions during the year ..........................	1e
f	Ending balance ................................	1f

(a) Description of security or category (including name of security)	(b) Book value	(c) Method of valuation: Cost or end-of-year market value
(3) Other (A) FEDERAL AGENCY SECURITIES	94,101,454
(B) CERTIFICATES OF DEPOSIT	12,328,524
(C) CORPORATE ONE CREDIT UNION	12,327,431
(D) OTHER INVESTMENTS	1,106,934
(E)
(F)
(G)
(H)
(I)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)	119,864,343

1.(a) Description of liability	(b) Book value
(1) Federal income taxes
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)	107,639,317
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII

Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total revenue, gains, and other support per audited financial statements .......	1
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a
b	Donated services and use of facilities .........	2b
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d .....................	2e
3	Subtract line 2e from line 1..................	3
4	Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b .	4a
b	Other (Describe in Part XIII.) ...........	4b
c	Add lines 4a and 4b....................	4c
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......	5

Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total expenses and losses per audited financial statements ...........	1
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities .........	2a
b	Prior year adjustments ............	2b
c	Other losses ................	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d....................	2e
3	Subtract line 2e from line 1...................	3
4	Amounts included on Form 990, Part IX, line 25, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b ..	4a
b	Other (Describe in Part XIII.) ............	4b
c	Add lines 4a and 4b.....................	4c
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......	5

- TIN:

SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet

Attach to Form 990 or 990-EZ.
MediumBullet

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2019

Open to Public
Inspection

Name of the organization

BEST REWARD CREDIT UNION

Employer identification number

34-0825970

Return Reference	Explanation
FORM 990, PAGE 6, PART VI, LINE 6	THE CREDIT UNION IS COMPRISED OF A SINGLE CLASS OF APPROXIMATELY 12,744 MEMBER-OWNERS, EACH OF WHICH HAS EQUAL RIGHTS IN OWNERSHIP, GOVERNANCE AND VOTING (FOR MEMBERS 18 AND OLDER) RIGHTS AT THE ANNUAL MEETING.
FORM 990, PAGE 6, PART VI, LINE 7A	THE MEMBER-OWNERS OF THE CREDIT UNION HAVE THE AUTHORITY TO ELECT THE MEMBERS OF THE BOARD OF DIRECTORS FOR THREE YEAR TERMS ON A ROTATING BASIS. CANDIDATES ARE ELECTED BY A SIMPLE PLURALITY VOTE. THE BOARD OF DIRECTORS APPOINTS VOLUNTEERS TO SERVE ON THE SUPERVISORY COMMITTEE, WHICH IS VESTED WITH MONITORING SAFETY AND SOUNDNESS OF THE ORGANIZATION. IF DEEMED APPROPRIATE, THE SUPERVISORY COMMITTEE CAN SUSPEND BOARD MEMBERS AND CAN CALL A SPECIAL MEETING OF THE MEMBERSHIP TO EVALUATE THE ISSUE AND VOTE TO EITHER DISMISS OR REINSTATE THE BOARD MEMBER.
FORM 990, PAGE 6, PART VI, LINE 7B	CHANGES TO THE GOVERNING DOCUMENTS (BYLAWS) GENERALLY REQUIRE APPROVAL BY THE MEMBER-OWNERS AFTER THEY HAVE BEEN APPROVED BY THE BOARD OF DIRECTORS AND THE REGULATORY AGENCY. APPROVAL OCCURS WHEN AT LEAST 50% OF THE MEMBER-OWNERS VOTE TO APPROVE.
FORM 990, PAGE 6, PART VI, LINE 11B	PRIOR TO BEING FILED WITH THE IRS, A COPY OF THE FORM 990 AND RELATED SCHEDULES ARE REVIEWED BY THE PRESIDENT/CEO INCLUDING A CONFIRMATION OF THE ACCURACY OF EVERY ANSWER AND OVERSIGHT OF THE APPROPRIATE CHANGES. UPON COMPLETION OF THE PRESIDENT'S REVIEW, THE FORMS ARE REVIEWED AND VOTED ON AT A BOARD MEETING.
FORM 990, PAGE 6, PART VI, LINE 12C	BOARD MEMBERS AND OFFICERS ANNUALLY COMPLETE A CONFLICT OF INTEREST STATEMENT RELATED TO LOANS, BUSINESS RELATIONSHIP AND FAMILY MEMBERS THAT COULD OR DO CREATE A CONFLICT OF INTEREST. THESE ARE SUMMARIZED AND MAINTAINED ON SITE AND AVAILABLE TO BOARD MEMBERS. CONFLICT OF INTEREST IS DETERMINED BY A REVIEW OF POTENTIAL CONFLICTS BY THE CEO AND AS AN AGENDA ITEM AT EACH BOARD MEETING. IF A CONFLICT EXISTS THE CONFLICTED BOARD MEMBER OR OFFICER IS EXCLUDED FROM DISCUSSIONS AND VOTES RELATED TO ANY POTENTIAL OR EXISTING RELATIONSHIPS INVOLVING THE CONFLICT OF INTEREST.
FORM 990, PAGE 6, PART VI, LINE 15A	THE PROCESS TO SET THE CEO SALARY IS BASED ON A COMBINATION OF COMPARABLE SIZE CREDIT UNIONS THROUGH THE USE OF AN INDEPENDENT SALARY CONSULTANT BAUSCHKE & ASSOCIATES AND ATTAINMENT IN THE CURRENT YEAR OF PREDEFINED PERFORMANCE OBJECTIVES SET FOR THE CEO PERSONALLY AND THE CREDIT UNION. THE PROCESS IS PERFORMED BY A SUBCOMMITTEE OF THE BOARD AND PRESENTED TO THE FULL BOARD FOR APPROVAL.
FORM 990, PAGE 6, PART VI, LINE 19	NO DOCUMENTS AVAILABLE TO THE PUBLIC
FORM 990, PART IX, LINE 11G	PROFESSIONAL & OUTSIDE SVCS 636,388 0 0 ATM PROGRAM EXP 325,623 0 0 TOTAL 962,011 0 0
FORM 990, PART XI, LINE 9	EQUITY ACQUIRED IN MERGER 614,386

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2019

Additional Data

Software ID:
Software Version:

1	Briefly describe the organization’s mission or most significant activities: TO PROVIDE LENDING, SAVINGS AND OTHER FINANCIAL SERVICES TO ITS QUALIFYING MEMBERS AT TERMS GENERALLY BETTER THAN AVAILABLE IN THE MARKETPLACE WITH A "SERVICE-BASED EMPHASIS" THAT RECOGNIZES THE MEMBERS' STATUS AS OWNERS.
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	10
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	7
5	Total number of individuals employed in calendar year 2019 (Part V, line 2a) ......	5	28
6	Total number of volunteers (estimate if necessary) .............	6
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	9,480
b	Net unrelated business taxable income from Form 990-T, line 39 .........	7b

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........		0
9	Program service revenue (Part VIII, line 2g) .........	2,415,935	2,491,125
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	2,194,598	2,538,455
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	101,515	104,890
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)	4,712,048	5,134,470
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...		0
14	Benefits paid to or for members (Part IX, column (A), line 4).....	173,275	286,632
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	1,645,241	1,712,312
16a	Professional fundraising fees (Part IX, column (A), line 11e) .....		0
b	Total fundraising expenses (Part IX, column (D), line 25) 0
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	2,409,789	2,555,976
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	4,228,305	4,554,920
19	Revenue less expenses. Subtract line 18 from line 12.......	483,743	579,550
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	145,827,794	160,120,732
21	Total liabilities (Part X, line 26).............	128,271,766	139,774,959
22	Net assets or fund balances. Subtract line 21 from line 20.....	17,556,028	20,345,773

Sign Here

	Signature of officer	Date

	Type or print name and title


4a	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )
	DIVIDENDS AND INTEREST PAID TO MEMBERS ON APPROXIMATELY 13,200 DEPOSIT ACCOUNTS HELD BY APPROXIMATELY 12,744 MEMBERS.

4b	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )
	DIRECT LABOR AND EMPLOYEE BENEFIT COSTS INCURRED PROVIDING SAVINGS DEPOSIT SERVICES, ORIGINATING NEW LOANS AND SERVICING THE LOAN PORTFOLIO FOR MEMBERS.

4c	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )
	DATA PROCESSING COSTS INCURRED RECORDING MEMBER ACCOUNTS ACTIVITY AND PROVIDING ACCESS TO MEMBERS TO THEIR ACCOUNTS VIA HOME BANKING, ATM NETWORKS, AND IN PERSON AT THE CREDIT UNION.

4d	Other program services (Describe in Schedule O.)
	(Expenses $ including grants of $ ) (Revenue $ )
4e	Total program service expenses

1b	Sub-Total................
c	Total from continuation sheets to Part VII, Section A....
d	Total (add lines 1b and 1c)...........	316,293	46,381

(A) Name and business address	(B) Description of services	(C) Compensation





2 Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization

1a	Federated campaigns..	1a
b	Membership dues..	1b
c	Fundraising events..	1c
d	Related organizations	1d
e	Government grants (contributions)	1e

f	All other contributions, gifts, grants, and similar amounts not included above	1f

g	Noncash contributions included in lines 1a - 1f:$	1g

h Total. Add lines 1a-1f.......

		Business Code
2a	LOAN INTEREST INCOME	522100	1,873,718	1,873,718
b	FEES	522100	364,039	364,039
c	DEBIT/CREDIT CARD INCOME	522100	243,888	243,888
d	FEES	522100	9,480		9,480
e
f	All other program service revenue.
g	Total. Add lines 2a–2f .....		2,491,125

3 Investment income (including dividends, interest, and othersimilar amounts) ......			2,538,455			2,538,455
4 Income from investment of tax-exempt bond proceeds
5 Royalties...........
		(ii) Personal	(i) Real
6a	Gross rents			6a
b	Less: rental expenses			6b
c	Rental income or (loss)			6c
d	Net rental income or (loss).......
		(ii) Other	(i) Securities
7a	Gross amount from sales of assets other than inventory			7a
b	Less: cost or other basis and sales expenses			7b
c	Gain or (loss)			7c
d	Net gain or (loss).........
8a	Gross income from fundraising events (not including $ of contributions reported on line 1c). See Part IV, line 18 ....
			8a
b	Less: direct expenses ...		8b
c	Net income or (loss) from fundraising events..
9a	Gross income from gaming activities. See Part IV, line 19 ...
			9a
b	Less: direct expenses ...		9b
c	Net income or (loss) from gaming activities..
10a	Gross sales of inventory, less returns and allowances ..
			10a
b	Less: cost of goods sold ..		10b
c	Net income or (loss) from sales of inventory..
Business Code			Miscellaneous Revenue
11a	OTHER INCOME		900099	65,049	65,049
b	GAIN ON SALE OF ASSETS		900099	39,841	39,841
c
d	All other revenue ....
e	Total. Add lines 11a–11d ......			104,890
12	Total revenue. See instructions.....			5,134,470	2,586,535	9,480	2,538,455

1	Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 ....
2	Grants and other assistance to domestic individuals. See Part IV, line 22 ...........
3	Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. .............
4	Benefits paid to or for members .......	286,632
5	Compensation of current officers, directors, trustees, and key employees ...........	316,293
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .........
7	Other salaries and wages........	890,994
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	49,658
9	Other employee benefits .......	364,560
10	Payroll taxes ...........	90,807
11	Fees for services (non-employees):
a	Management ......
b	Legal .........
c	Accounting ...........	42,627
d	Lobbying ...........
e	Professional fundraising services. See Part IV, line 17
f	Investment management fees ......
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O)	962,011
12	Advertising and promotion ....	53,096
13	Office expenses .......
14	Information technology ......
15	Royalties ..
16	Occupancy ...........	199,211
17	Travel ............	30,833
18	Payments of travel or entertainment expenses for any federal, state, or local public officials .
19	Conferences, conventions, and meetings ....	373
20	Interest ...........
21	Payments to affiliates .......
22	Depreciation, depletion, and amortization ..	111,733
23	Insurance ...
24	Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a	MISCELLANEOUS	665,879
b	OFFICE OPERATIONS	200,094
c	LOAN SERVICES	166,773
d	PROVISION FOR LOAN LOSSES	83,000
e	All other expenses	40,346
25	Total functional expenses. Add lines 1 through 24e	4,554,920	0	0	0
26	Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).

1	Cash–non-interest-bearing ........			992,346	1	1,138,368
2	Savings and temporary cash investments .........				2
3	Pledges and grants receivable, net ......				3
4	Accounts receivable, net .............				4
5	Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .......
					5
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
					6
7	Notes and loans receivable, net ...........			32,727,388	7	33,328,904
8	Inventories for sale or use ............				8
9	Prepaid expenses and deferred charges ......			10,028	9	77,125
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	6,442,166
b	Less: accumulated depreciation	10b	4,465,655	2,075,857	10c	1,976,511
11	Investments—publicly traded securities .				11
12	Investments—other securities. See Part IV, line 11 .....			108,246,138	12	119,864,343
13	Investments—program-related. See Part IV, line 11 ..				13
14	Intangible assets ...............				14
15	Other assets. See Part IV, line 11 ...........			1,776,037	15	3,735,481
16	Total assets. Add lines 1 through 15 (must equal line 33)...			145,827,794	16	160,120,732

17	Accounts payable and accrued expenses .....	30,162,328	17	32,135,642
18	Grants payable ...		18
19	Deferred revenue .........		19
20	Tax-exempt bond liabilities .........		20
21	Escrow or custodial account liability. Complete Part IV of Schedule D		21
22	Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
			22
23	Secured mortgages and notes payable to unrelated third parties ..		23
24	Unsecured notes and loans payable to unrelated third parties ..		24
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17 - 24). Complete Part X of Schedule D	98,109,438	25	107,639,317
26	Total liabilities. Add lines 17 through 25..	128,271,766	26	139,774,959

	Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27	Net assets without donor restrictions ..........		27
28	Net assets with donor restrictions ...........		28
	Organizations that do not follow FASB ASC 958, check here and complete lines 29 through 33.
29	Capital stock or trust principal, or current funds .....		29
30	Paid-in or capital surplus, or land, building or equipment fund ...		30
31	Retained earnings, endowment, accumulated income, or other funds	17,556,028	31	20,345,773
32	Total net assets or fund balances ...........	17,556,028	32	20,345,773
33	Total liabilities and net assets/fund balances ........	145,827,794	33	160,120,732

1a	Beginning of year balance ....
b	Contributions ...
c	Net investment earnings, gains, and losses
d	Grants or scholarships ...
e	Other expenditures for facilities and programs ...
f	Administrative expenses ....
g	End of year balance ......

1a	Land .....	785,794		785,794
b	Buildings ....	2,296,329	1,872,734	423,595
c	Leasehold improvements
d	Equipment ....
e	Other .....	3,360,043	2,592,921	767,122
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..				1,976,511

(a) Description of security or category (including name of security)	(b) Book value	(c) Method of valuation: Cost or end-of-year market value
(1) Financial derivatives.........
(2) Closely-held equity interests........
(3) Other (A) FEDERAL AGENCY SECURITIES	94,101,454
(B) CERTIFICATES OF DEPOSIT	12,328,524
(C) CORPORATE ONE CREDIT UNION	12,327,431
(D) OTHER INVESTMENTS	1,106,934
(E)
(F)
(G)
(H)
(I)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)	119,864,343

(a) Description of investment	(b) Book value	(c) Method of valuation: Cost or end-of-year market value

(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)