TY 2023 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/1099-NEC)

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

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

(1) Tina Brooks......................................................................
CEO

40
.................

68,189

(2) G Lynne Myers......................................................................
Accounting Mgr

34
.................

41,231

(3) Douglas Flanery......................................................................
Board President

0.25
.................

(4) Donald Atkins......................................................................
Vice President

0.25
.................

(5) Sondra White......................................................................
Secretary

0.25
.................

(6) Jeffrey Miller......................................................................
Treasurer

0.25
.................

(7) John Strawser......................................................................
Director

0.25
.................

(8) James Schaar......................................................................
Director

0.25
.................

(9) Craig Jenkinson......................................................................
Director

0.25
.................

(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/1099-NEC)

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

(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 0

	(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 July 25, 2006, 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

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)

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.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2023

Open to Public
Inspection

Name of the organization

635 MEMBERS CHOICE CREDIT UNION INC

Employer identification number

34-0571968

Return Reference	Explanation
Form 990, Part VI, Section A, Line 6	The Credit Union, is comprised, of a single class of approximately 3,269, member-owners, each of which has equal rights, of ownership, governance, and voting rights at the annual meeting, with exception of member-owners who are elected to the Board of Directors.
Form 990, Part VI, Section A, Line 7a	The Member-owners of the Credit union have authority to elect members of the Board of Directors for three-year terms on a rotating basis. Candidates are elected by a simple majority vote. The Board of Directors appoint volunteers to serve on the Audit Committee, which is vested with monitoring safety and soundness of the organization. If deemed appropriate the Audit Committe can suspend board members and call a special meeting of the members to evaluate the issue and vote to either dismiss or reinstate the Board member.
Form 990, Part VI, Section A, Line 7b	Changes to the governing documents (by laws) must be approved by the member-owners after laws have been approved by the Board of Directors. The regulatory agency approval occurs when a least 50% of the member-owners vote to approve.
Form 990, Part VI, Section B, Line 11b	A copy of the 990 and related schedules are reviewed by the Board of Directors, including accuracy of every answer, and oversight of appropriate changes. Upon completion of the review by the Board of Directors, it is voted on at a Board of Directors meeting prior to submitting to the IRS.
Form 990, Part VI, Section B, Line 12c	Each Director and Key Employee is required to fill out a conflict-of-interest form related to loans, business relationships, and family members that could or do create a conflict of interest. These are summarized and maintained in a document present at each board meeting. Conflict of interest is determined by a review of potential conflict by the CEO and Board of Directors. If a conflict exists, the conflicted Board member or officer is excluded from discussion votes related to any potential or existing relationships involving the conflict of interest. If it has been determined that a conflict of interest was intentionally hidden by the Board member, that situation would be investigated by the Audit committee, and the Board member would be suspended and subject to dismissal at a special meeting of all member-owners. Additionally, the remaining Board members and officers will review for fairness, all past transactions involving the conflict of interest. If a transaction appears to lack arm length, either to the detriment of the Credit Union or the unfair advantage of the Board member, then legal remedies will be considered.
Form 990, Part VI, Section B, Line 15	The process used to set the CEO's annual salary is a comparison to comparable sized credit Unions through CUNA's annual compensations survey, internet research, board review, and then approved. The process is done each year. The process used to set the pay rate for all Key employees is a comparison to comparable sized Credit Union and Financial institutions through CUNA's annual compensation survey and internet research. This process is done each year by the CEO.
Form 990, Part VI, Section C, Line 19	The Credit Union by-laws, conflict of interest policy, and financial statements are available to the public by appointment at the Credit Union office.
Form 990, Part XI, Line 9	One time transfer to CECL.

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

Cat. No. 51056K

Schedule O (Form 990) 2023

Additional Data

Software ID:	23018249
Software Version:	v1.00

1	Briefly describe the organization’s mission or most significant activities: The credit union provides financial services to qualified members
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 2023 (Part V, line 2a) ......	5	9
6	Total number of volunteers (estimate if necessary) .............	6	13
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	4,259
b	Net unrelated business taxable income from Form 990-T, Part I, line 11 .........	7b	0

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	0	0
9	Program service revenue (Part VIII, line 2g) .........	769,478	881,732
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	120,566	295,351
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	3,289	3,354
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)	893,333	1,180,437
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	0	0
14	Benefits paid to or for members (Part IX, column (A), line 4).....	21,363	172,147
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	309,959	328,669
16a	Professional fundraising fees (Part IX, column (A), line 11e) .....	0	0
b	Total fundraising expenses (Part IX, column (D), line 25) 0
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	319,318	312,397
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	650,640	813,213
19	Revenue less expenses. Subtract line 18 from line 12.......	242,693	367,224
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	29,882,482	30,115,834
21	Total liabilities (Part X, line 26).............	24,378,088	24,269,516
22	Net assets or fund balances. Subtract line 21 from line 20.....	5,504,394	5,846,318

Sign Here

	Signature of officer	Date

	Type or print name and title


4a	(Code: ) (Expenses $ 814,299 including grants of $ ) (Revenue $ )
	To provide lending, savings, and other financial services to it's qualifying members at terms generally better than available in the marketplace and with "service based emphasis" that recognizes the members status "as owners"

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












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












4d	Other program services (Describe in Schedule O.)
	(Expenses $ 0 including grants of $ 0 ) (Revenue $ 0 )
4e	Total program service expenses814,299

1b	Sub-Total..............
c	Total from continuation sheets to Part VII, Section A..
d	Total (add lines 1b and 1c).........	109,420	0	0

(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 0

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.......		0

		Business Code
2a	Loan Interest	522291	706,264	706,264	0	0
b	Fee Income	522100	95,085	95,085	0	0
c	Other	522200	80,383	79,478	905	0
d
e
f	All other program service revenue.		0	0	0	0
g	Total. Add lines 2a–2f .....		881,732

3 Investment income (including dividends, interest, and othersimilar amounts) ......			295,351	295,351	0	0
4 Income from investment of tax-exempt bond proceeds			0	0	0	0
5 Royalties...........			0	0	0	0
			(i) Real	(ii) Personal
6a	Gross rents	6a	4,500	0
b	Less: rental expenses	6b	1,146	0
c	Rental income or (loss)	6c	3,354	0
d	Net rental income or (loss).......			3,354	0		0
			(i) Securities	(ii) Other
7a	Gross amount from sales of assets other than inventory	7a	0	0
b	Less: cost or other basis and sales expenses	7b	0	0
c	Gain or (loss)	7c	0	0
d	Net gain or (loss).........			0	0	0	0
8a	Gross income from fundraising events (not including $ 0of contributions reported on line 1c). See Part IV, line 18 ....
			8a	0
b	Less: direct expenses ...		8b	0
c	Net income or (loss) from fundraising events..			0		0	0
9a	Gross income from gaming activities. See Part IV, line 19 ...
			9a	0
b	Less: direct expenses ...		9b	0
c	Net income or (loss) from gaming activities..			0	0	0	0
10a	Gross sales of inventory, less returns and allowances ..
			10a	0
b	Less: cost of goods sold ..		10b	0
c	Net income or (loss) from sales of inventory..			0	0	0	0

Business Code
11a
b
c
d	All other revenue ....
e	Total. Add lines 11a–11d ......			0
12	Total revenue. See instructions.....			1,180,437	1,176,178	4,259	0

1	Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 ....	0
2	Grants and other assistance to domestic individuals. See Part IV, line 22 ...........	0
3	Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. .............	0
4	Benefits paid to or for members .......	172,147
5	Compensation of current officers, directors, trustees, and key employees ...........	109,420
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .........	0
7	Other salaries and wages........	151,368
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	9,724
9	Other employee benefits .......	37,977
10	Payroll taxes ...........	20,180
11	Fees for services (non-employees):
a	Management ......	0
b	Legal .........	60
c	Accounting ...........	12,137
d	Lobbying ...........	0
e	Professional fundraising services. See Part IV, line 17	0
f	Investment management fees ......	0
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O)	0
12	Advertising and promotion ....	3,373
13	Office expenses .......	46,721
14	Information technology ......	45,559
15	Royalties ..	0
16	Occupancy ...........	12,240
17	Travel ............	955
18	Payments of travel or entertainment expenses for any federal, state, or local public officials .	0
19	Conferences, conventions, and meetings ....	2,324
20	Interest ...........	0
21	Payments to affiliates .......	625
22	Depreciation, depletion, and amortization ..	17,947
23	Insurance ...	15,181
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	Processing Fees	121,302
b	Loan Servicing	25,466
c	Supervisory Fee	6,562
d	Early Withdrawal Penalty	446
e	All other expenses	1,499
25	Total functional expenses. Add lines 1 through 24e	813,213	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 ........			386,858	1	392,233
2	Savings and temporary cash investments .........			780,070	2	1,628,878
3	Pledges and grants receivable, net ......			0	3	0
4	Accounts receivable, net .............			1,650	4	3,147
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 .......
				0	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) ...
				0	6	0
7	Notes and loans receivable, net ...........			15,943,740	7	16,600,574
8	Inventories for sale or use ............			0	8	0
9	Prepaid expenses and deferred charges ......			17,488	9	19,784
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	700,319
b	Less: accumulated depreciation	10b	608,629	89,978	10c	91,690
11	Investments—publicly traded securities .			0	11	0
12	Investments—other securities. See Part IV, line 11 .....			12,112,000	12	10,814,000
13	Investments—program-related. See Part IV, line 11 ..			495,426	13	496,360
14	Intangible assets ...............			0	14	0
15	Other assets. See Part IV, line 11 ...........			55,272	15	69,168
16	Total assets. Add lines 1 through 15 (must equal line 33)...			29,882,482	16	30,115,834

17	Accounts payable and accrued expenses .....	123,049	17	162,998
18	Grants payable ...	0	18	0
19	Deferred revenue .........	0	19	0
20	Tax-exempt bond liabilities .........	0	20	0
21	Escrow or custodial account liability. Complete Part IV of Schedule D	0	21	0
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 .........
		0	22
23	Secured mortgages and notes payable to unrelated third parties ..	0	23	0
24	Unsecured notes and loans payable to unrelated third parties ..	0	24	0
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	24,255,039	25	24,106,518
26	Total liabilities. Add lines 17 through 25..	24,378,088	26	24,269,516

	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 .....	0	29	0
30	Paid-in or capital surplus, or land, building or equipment fund ...	0	30	0
31	Retained earnings, endowment, accumulated income, or other funds	5,504,394	31	5,846,318
32	Total net assets or fund balances ...........	5,504,394	32	5,846,318
33	Total liabilities and net assets/fund balances ........	29,882,482	33	30,115,834

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 .....	0	20,000		20,000
b	Buildings ....	0	363,528	320,360	43,168
c	Leasehold improvements	0	0	0	0
d	Equipment ....	0	243,027	218,798	24,229
e	Other .....	0	73,764	69,471	4,293
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..					91,690

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

(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)

(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.........	0
(2) Closely-held equity interests........	0
(3) Other (A) Certificates Of Deposit	10,814,000	C
(B)
(C)
(D)
(E)
(F)
(G)
(H)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)	10,814,000

1.(a) Description of liability	(b) Book value
(1) Federal income taxes
Saving Accounts	24,106,518








Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)	24,106,518
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