TY 2020 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) ROY JOHNSTON......................................................................
PRESIDENT

1.50
.................

(2) DEBORAH WESTOVER......................................................................
VICE PRESIDE

1.00
.................

(3) ALAN ESTES......................................................................
SECRETARY/TR

1.00
.................

(4) DIXIE PARUCH......................................................................
BOARD MEMBER

1.00
.................

(5) ANDREW NELSON......................................................................
BOARD MEMBER

1.00
.................

(6) BRIAN CAMPBELL......................................................................
BOARD MEMBER

1.00
.................

(7) ROBIN HARMON......................................................................
BOARD MEMBER

1.00
.................

(8) CAROLYN FAITH......................................................................
SUPERVIOSRY

1.50
.................

(9) LARRY BRESNAHAN......................................................................
SUPERVISORY

1.00
.................

(10) THOMAS HOFFMAN......................................................................
SUPERVISORY

1.00
.................

(11) KELLY CHILDRESS
KELLY CHILDRESS
CEO

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

106,574

(12) KELLY DAUGHERTY......................................................................
COO

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

83,200

(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

1.(a) Description of liability	(b) Book value
(1) Federal income taxes
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)	386,454
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

2020

Open to Public
Inspection

Name of the organization

1ST ED CREDIT UNION

Employer identification number

23-6274650

Return Reference	Explanation
FORM 990 - ORGANIZATION'S MISSION	1ST ED CREDIT UNION IS A MEMBER-OWNED FINANCIAL INSTITUTION, SERVING SCHOOL EMPLOYEES AND THEIR FAMILIES IN ADAMS, CUMBERLAND, FRANKLIN, FULTON, AND YORK COUNTIES. OUR PURPOSE IS TO PROVIDE MEMBERS WITH QUALITY AND DIVERSE SERVICES, AS WELL AS PERSONAL ATTENTION TO THEIR FINANCIAL NEEDS. WE STRIVE FOR CONTINUED GROWTH WHILE MAINTAINING FINANCIAL STABILITY.
FORM 990, PAGE 6, PART VI, LINE 6	THE MEMBERSHIP OF 1ST ED CREDIT UNION IS LIMITED TO EMPLOYEES AND STUDENTS OF THE SCHOOL DISTRICTS IN THE COUNTIES OF FRANKLIN, FULTON, ADAMS AND CUMBERLAND (EXCEPT WEST SHORE, CAMP HILL, EAST PENNSBORO, MECHANICSBURG, AND CUMBERLAND VALLEY); LINCOLN INTERMEDIATE UNIT 12 EMPLOYEES EMPLOYED AND STUDENTS ATTENDING IN ADAMS, FRANKLIN, AND YORK COUNTIES; TEACHERS EMPLOYED BY THE COMMONWEALTH OF PENNSYLVANIA IN THOSE COUNTIES; ASSOCIATIONS OF SUCH MEMBERS; EMPLOYEES OF THE CREDIT UNION; OTHER OCCUPATIONAL AND ASSOCIATIONAL GROUPS AS PROVIDED BY LAW AND WITH THE PRIOR WRITTEN APPROVAL OF THE DEPARTMENT OF BANKING; AND MEMBERS OF THEIR IMMEDIATE FAMILIES.
FORM 990, PAGE 6, PART VI, LINE 7A	THE ORGANIZATION'S MEMBERS HAVE THE ABILITY TO ELECT MEMBERS OF THE GOVERNING BODY AT THE ORGANIZATION'S ANNUAL MEETING.
FORM 990, PAGE 6, PART VI, LINE 7B	THE ORGANIZATION'S MEMBERS HAVE THE ABILITY TO VOTE ON ANY CHANGES MADE TO THE ORGANIZATION'S BYLAWS AND ARTICLES OF INCORPORATION AT THE ANNUAL MEETING OR SPECIAL MEETING CALLED BY THE BOARD OF DIRECTORS.
FORM 990, PAGE 6, PART VI, LINE 11B	THE FORM 990 IS REVIEWED BY THE CEO AND THE ACCOUNTING MANAGER BEFORE BEING PASSED ON TO THE GOVERNING BOARD. THE GOVERNING BODY THEN REVIEWS THE FORM 990 BEFORE THE FORM IS FILED.
FORM 990, PAGE 6, PART VI, LINE 12C	THE CREDIT UNION'S BOARD MEMBERS ARE REQUIRED TO ABSTAIN FROM VOTING WHENEVER A CONFLICT OF INTEREST COULD ARISE.
FORM 990, PAGE 6, PART VI, LINE 15A	THE ORGANIZATION'S TOP MANAGEMENT OFFICAL'S COMPENSATION IS DETERMINED USING A SURVEY OF INDUSTRY STANDARDS, GUIDED BY ASSET SIZE AND NUMBER OF FULL TIME EMPLOYEES.
FORM 990, PAGE 6, PART VI, LINE 15B	THE EMPLOYEE'S SENIOR MANAGER DETERMINES COMPENSATION USING A SURVEY OF INDUSTRY STANDARDS AND THE GOVERNING BODY THEN APPROVES THE RECOMMENDED COMPENSATION.
FORM 990, PAGE 6, PART VI, LINE 19	THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. THE ORGANIZATION'S FORM 990 IS ALSO AVAILABLE TO THE PUBLIC THROUGH WWW.GUIDESTAR.ORG.

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

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2020

Additional Data

Software ID:
Software Version:

1	Briefly describe the organization’s mission or most significant activities: CREDIT UNIONS ARE COOPERATIVE SAVINGS AND CREDIT ASSOCIATIONS INCORPORATED UNDER ACT NO. 260 OF MAY 26, 1993 OR ACT NO. 283 OF SEPTEMBER 20, 1961, FOR THE PURPOSE OF PROMOTING THRIFT AMOUNG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR SUCH MEMBERS AT REASONABLE RATES OF INTEREST AND PROVIDING AN OPPORTUNITY FOR ITS MEMBERS TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECOMONIC AND SOCIAL CONDITIONS.
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	7
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 2020 (Part V, line 2a) ......	5	27
6	Total number of volunteers (estimate if necessary) .............	6	10
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	0
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) .........	2,376,644	2,361,224
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	1,146,752	924,445
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	540,395	544,939
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)	4,063,791	3,830,608
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).....		0
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	1,474,875	1,517,024
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)....	1,995,029	2,026,248
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	3,469,904	3,543,272
19	Revenue less expenses. Subtract line 18 from line 12.......	593,887	287,336
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	116,889,166	127,018,767
21	Total liabilities (Part X, line 26).............	97,537,932	106,936,002
22	Net assets or fund balances. Subtract line 21 from line 20.....	19,351,234	20,082,765

Sign Here

	Signature of officer	Date

	Type or print name and title


4a	(Code: ) (Expenses $ 3,543,272 including grants of $ ) (Revenue $ 2,361,224 )
	1ST ED CREDIT UNION IS A MEMBER-OWNED FINANCIAL INSTITUTION, SERVING SCHOOL EMPLOYEES AND THEIR FAMILIES IN ADAMS, CUMBERLAND, FRANKLIN, FULTON, AND YORK COUNTIES. OUR PURPOSE IS TO PROVIDE MEMBERS WITH QUALITY AND DIVERSE SERVICES, AS WELL AS PERSONAL ATTENTION TO THEIR FINANCIAL NEEDS. WE STRIVE FOR CONTINUED GROWTH WHILE MAINTAINING FINANCIAL STABILITY.

4b	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4c	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4d	Other program services (Describe in Schedule O.)
	(Expenses $ including grants of $ ) (Revenue $ )
4e	Total program service expenses3,543,272

1b	Sub-Total................
c	Total from continuation sheets to Part VII, Section A....
d	Total (add lines 1b and 1c)...........	189,774

(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	INTEREST ON LOANS	522100	2,361,224	2,361,224
b
c
d
e
f	All other program service revenue.
g	Total. Add lines 2a–2f .....		2,361,224

3 Investment income (including dividends, interest, and othersimilar amounts) ......			925,990			925,990
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		240,000	7a
b	Less: cost or other basis and sales expenses	1,545	240,000	7b
c	Gain or (loss)	-1,545		7c
d	Net gain or (loss).........			-1,545	-1,545
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	FEES ON CREDIT CARDS		522100	264,950	264,950
b	FEES AND CHARGES ON PRODUCTS		522100	233,645	233,645
c	OTHER INCOME		522100	46,344	46,344
d	All other revenue ....
e	Total. Add lines 11a–11d ......			544,939
12	Total revenue. See instructions.....			3,830,608	2,904,618		925,990

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 .......
5	Compensation of current officers, directors, trustees, and key employees ...........	189,774
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........	973,473
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	50,089
9	Other employee benefits .......	217,047
10	Payroll taxes ...........	86,641
11	Fees for services (non-employees):
a	Management ......
b	Legal .........	148
c	Accounting ...........	36,710
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)
12	Advertising and promotion ....	87,236
13	Office expenses .......	20,378
14	Information technology ......	365,113
15	Royalties ..
16	Occupancy ...........	223,967
17	Travel ............	2,803
18	Payments of travel or entertainment expenses for any federal, state, or local public officials .
19	Conferences, conventions, and meetings ....
20	Interest ...........	383,244
21	Payments to affiliates .......
22	Depreciation, depletion, and amortization ..	162,651
23	Insurance ...	44,751
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	LOAN SERVICING	220,617
b	INTERCHANGE EXPENSES	155,730
c	MISC. OPERATING EXPENSE	105,206
d	PROVISION FOR LOAN LOSSES	53,000
e	All other expenses	164,694
25	Total functional expenses. Add lines 1 through 24e	3,543,272	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 ........			521,767	1	671,409
2	Savings and temporary cash investments .........			7,719,517	2	12,005,179
3	Pledges and grants receivable, net ......				3
4	Accounts receivable, net .............			63,377	4	120,606
5	Loans and other receivables from 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 ...........			59,180,231	7	58,145,173
8	Inventories for sale or use ............				8
9	Prepaid expenses and deferred charges ......			211,499	9	245,419
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	3,400,218
b	Less: accumulated depreciation	10b	1,261,344	2,302,565	10c	2,138,874
11	Investments—publicly traded securities .			45,585,841	11	52,358,459
12	Investments—other securities. See Part IV, line 11 .....				12
13	Investments—program-related. See Part IV, line 11 ..				13
14	Intangible assets ...............				14
15	Other assets. See Part IV, line 11 ...........			1,304,369	15	1,333,648
16	Total assets. Add lines 1 through 15 (must equal line 33)...			116,889,166	16	127,018,767

17	Accounts payable and accrued expenses .....	97,192,794	17	106,549,548
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	345,138	25	386,454
26	Total liabilities. Add lines 17 through 25..	97,537,932	26	106,936,002

	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 .....	1,424,380	29	1,424,380
30	Paid-in or capital surplus, or land, building or equipment fund ...		30
31	Retained earnings, endowment, accumulated income, or other funds	17,926,854	31	18,658,385
32	Total net assets or fund balances ...........	19,351,234	32	20,082,765
33	Total liabilities and net assets/fund balances ........	116,889,166	33	127,018,767

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 .....	148,729		148,729
b	Buildings ....	1,525,805	552,867	972,938
c	Leasehold improvements	785,288	146,029	639,259
d	Equipment ....	940,396	562,448	377,948
e	Other .....
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..				2,138,874

(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
(B)
(C)
(D)
(E)
(F)
(G)
(H)
(I)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)

(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.)