TY 2023 Form 990 Schedule O

efile Public Visual Render ObjectId: 202411359349312841 - Submission: 2024-05-14 TIN: 58-1256173

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

HEALTH CENTER CREDIT UNION

Employer identification number

58-1256173

Return Reference	Explanation
FORM 990, PART III, LINE 3	HEALTH CENTER CREDIT UNION MERGED ITS ASSETS INTO GEORGIA'S OWN CREDIT UNION EFFECTIVE JULY 1, 2023. CREDIT UNION DEPOSIT AND LENDING SERVICES FOR THE FORMER MEMBERS WILL CONTINUE UNDER GEORGIA'S OWN CREDIT UNION.
FORM 990, PART VI, SECTION A, LINE 4	HEALTH CENTER CREDIT UNION MERGED ITS ASSETS INTO GEORGIA'S OWN CREDIT UNION EFFECTIVE JULY 1, 2023. CREDIT UNION DEPOSIT AND LENDING SERVICES FOR THE FORMER MEMBERS WILL CONTINUE UNDER GEORGIA'S OWN CREDIT UNION.
FORM 990, PART VI, SECTION A, LINE 6	HEALTH CENTER CREDIT UNION IS A STATE-CHARTERED CREDIT UNION. EVERY INDIVIDUAL WHO HAS A SAVINGS ACCOUNT WITH THE CREDIT UNION IS CONSIDERED A MEMBER OF THE ORGANIZATION. EVERY MEMBER HAS ONE VOTE. MEMBERS CAN ELECT BOARD MEMBERS OF THE GOVERNING BODY. MAJOR DECISIONS INVOLVING CONVERSION OR MERGER OF CREDIT UNION CHARTER MUST BE APPROVED BY THE MEMBERS.
FORM 990, PART VI, SECTION A, LINE 7A	MEMBERS CAN ELECT BOARD MEMBERS OF THE GOVERNING BODY.
FORM 990, PART VI, SECTION A, LINE 7B	ANY MAJOR DECISION INVOLVING CONVERSION OR MERGER OF CREDIT UNION CHARTER MUST BE APPROVED BY THE MEMBERS. DURING 2023, HEALTH CENTER CREDIT UNION MEMBERS VOTED ON BECOMING PART OF GEORGIA'S OWN CREDIT UNION. HEALTH CENTER CREDIT UNION MEMBERS OVERWHELMINGLY APPROVED THE MERGER.
FORM 990, PART VI, SECTION B, LINE 11B	A COPY OF FORM 990 IS PROVIDED TO THE ORGANIZATION'S GOVERNING BODY FOR APPROVAL PRIOR TO FILING.
FORM 990, PART VI, SECTION B, LINE 12C	THE CREDIT UNION MONITORS AND ENFORCES THE CONFLICT-OF-INTEREST POLICY THROUGH REQUIRING EMPLOYEES, MANAGEMENT, AND DIRECTORS TO DISCLOSE CONFLICTS OF INTEREST ON A REGULAR BASIS.
FORM 990, PART VI, SECTION B, LINE 15	THE PRESIDENT'S COMPENSATION IS DETERMINED BY AN ANNUAL PERFORMANCE REVIEW CONDUCTED BY THE CHAIRMAN OF THE BOARD DURING THE FIRST QUARTER OF THE YEAR. AS A DEPARTMENT OF THE UNIVERSITY SYSTEM OF GEORGIA, MERIT INCREASE RANGES ARE DETERMINED BY THE BOARD OF REGENTS. ANNUAL MERIT INCREASES IN EACH DEPARTMENT ARE DETERMINED BY THE DEPARTMENT MANAGER (CREDIT UNION PRESIDENT AND ALCO CHAIRMAN). OTHER OFFICERS' COMPENSATION IS DETERMINED BY ANNUAL PERFORMANCE REVIEW CONDUCTED BY THE PRESIDENT.
FORM 990, PART VI, SECTION C, LINE 19	FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AND ARE DISPLAYED IN EACH OF THE CREDIT UNION'S BRANCHES. OTHER GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FORMS 990 AND 990-T ARE AVAILABLE UPON REQUEST.
FORM 990, PART IX, LINE 24E	LOAN SERVICING 57,218. MISCELLANEOUS 21,200. MAINTENANCE 15,728. EDUCATION 15,000.
FORM 990, PART XI, LINE 9:	TRANSFER OF NET ASSETS (WHICH INCLUDED MEMBER DEPOSITS IN THE 2022 FORM 990) THROUGH A MERGER INTO GEORGIA'S OWN CREDIT UNION -69,242,837.

Return Reference

Explanation

FORM 990, PART III, LINE 3

HEALTH CENTER CREDIT UNION MERGED ITS ASSETS INTO GEORGIA'S OWN CREDIT UNION EFFECTIVE JULY 1, 2023. CREDIT UNION DEPOSIT AND LENDING SERVICES FOR THE FORMER MEMBERS WILL CONTINUE UNDER GEORGIA'S OWN CREDIT UNION.

FORM 990, PART VI, SECTION A, LINE 4

FORM 990, PART VI, SECTION A, LINE 6

HEALTH CENTER CREDIT UNION IS A STATE-CHARTERED CREDIT UNION. EVERY INDIVIDUAL WHO HAS A SAVINGS ACCOUNT WITH THE CREDIT UNION IS CONSIDERED A MEMBER OF THE ORGANIZATION. EVERY MEMBER HAS ONE VOTE. MEMBERS CAN ELECT BOARD MEMBERS OF THE GOVERNING BODY. MAJOR DECISIONS INVOLVING CONVERSION OR MERGER OF CREDIT UNION CHARTER MUST BE APPROVED BY THE MEMBERS.

FORM 990, PART VI, SECTION A, LINE 7A

MEMBERS CAN ELECT BOARD MEMBERS OF THE GOVERNING BODY.

FORM 990, PART VI, SECTION A, LINE 7B

ANY MAJOR DECISION INVOLVING CONVERSION OR MERGER OF CREDIT UNION CHARTER MUST BE APPROVED BY THE MEMBERS. DURING 2023, HEALTH CENTER CREDIT UNION MEMBERS VOTED ON BECOMING PART OF GEORGIA'S OWN CREDIT UNION. HEALTH CENTER CREDIT UNION MEMBERS OVERWHELMINGLY APPROVED THE MERGER.

FORM 990, PART VI, SECTION B, LINE 11B

A COPY OF FORM 990 IS PROVIDED TO THE ORGANIZATION'S GOVERNING BODY FOR APPROVAL PRIOR TO FILING.

FORM 990, PART VI, SECTION B, LINE 12C

THE CREDIT UNION MONITORS AND ENFORCES THE CONFLICT-OF-INTEREST POLICY THROUGH REQUIRING EMPLOYEES, MANAGEMENT, AND DIRECTORS TO DISCLOSE CONFLICTS OF INTEREST ON A REGULAR BASIS.

FORM 990, PART VI, SECTION B, LINE 15

THE PRESIDENT'S COMPENSATION IS DETERMINED BY AN ANNUAL PERFORMANCE REVIEW CONDUCTED BY THE CHAIRMAN OF THE BOARD DURING THE FIRST QUARTER OF THE YEAR. AS A DEPARTMENT OF THE UNIVERSITY SYSTEM OF GEORGIA, MERIT INCREASE RANGES ARE DETERMINED BY THE BOARD OF REGENTS. ANNUAL MERIT INCREASES IN EACH DEPARTMENT ARE DETERMINED BY THE DEPARTMENT MANAGER (CREDIT UNION PRESIDENT AND ALCO CHAIRMAN). OTHER OFFICERS' COMPENSATION IS DETERMINED BY ANNUAL PERFORMANCE REVIEW CONDUCTED BY THE PRESIDENT.

FORM 990, PART VI, SECTION C, LINE 19

FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AND ARE DISPLAYED IN EACH OF THE CREDIT UNION'S BRANCHES. OTHER GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FORMS 990 AND 990-T ARE AVAILABLE UPON REQUEST.

FORM 990, PART IX, LINE 24E

LOAN SERVICING 57,218. MISCELLANEOUS 21,200. MAINTENANCE 15,728. EDUCATION 15,000.

FORM 990, PART XI, LINE 9:

TRANSFER OF NET ASSETS (WHICH INCLUDED MEMBER DEPOSITS IN THE 2022 FORM 990) THROUGH A MERGER INTO GEORGIA'S OWN CREDIT UNION -69,242,837.

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

Cat. No. 51056K

Schedule O (Form 990) 2023

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