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SHARON CREDIT UNION EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 401k Plan overview

Plan NameSHARON CREDIT UNION EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST
Plan identification number 002

SHARON CREDIT UNION EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

401k Sponsoring company profile

SHARON & CRESCENT UNITED CREDIT UNION has sponsored the creation of one or more 401k plans.

Company Name:SHARON & CRESCENT UNITED CREDIT UNION
Employer identification number (EIN):042391206
NAIC Classification:522130
NAIC Description:Credit Unions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SHARON CREDIT UNION EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022020-01-01
0022011-01-01JAMES CARLSON
0022010-01-01JAMES CARLSON JAMES CARLSON2011-06-30
0022009-01-01JAMES CARLSON JAMES CARLSON2010-09-02

Plan Statistics for SHARON CREDIT UNION EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST

401k plan membership statisitcs for SHARON CREDIT UNION EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST

Measure Date Value
2020: SHARON CREDIT UNION EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2020 401k membership
Total participants, beginning-of-year2020-01-01139
Total number of active participants reported on line 7a of the Form 55002020-01-010
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-010
Total of all active and inactive participants2020-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-010
Number of participants with account balances2020-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2011: SHARON CREDIT UNION EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2011 401k membership
Total participants, beginning-of-year2011-01-0185
Total number of active participants reported on line 7a of the Form 55002011-01-010
Number of retired or separated participants receiving benefits2011-01-010
Number of other retired or separated participants entitled to future benefits2011-01-010
Total of all active and inactive participants2011-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-010
Total participants2011-01-010
Number of participants with account balances2011-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-010
2010: SHARON CREDIT UNION EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2010 401k membership
Total participants, beginning-of-year2010-01-0186
Total number of active participants reported on line 7a of the Form 55002010-01-0172
Number of retired or separated participants receiving benefits2010-01-011
Number of other retired or separated participants entitled to future benefits2010-01-0111
Total of all active and inactive participants2010-01-0184
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2010-01-011
Total participants2010-01-0185
Number of participants with account balances2010-01-0185
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2010-01-010
2009: SHARON CREDIT UNION EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2009 401k membership
Total participants, beginning-of-year2009-01-0173
Total number of active participants reported on line 7a of the Form 55002009-01-0169
Number of retired or separated participants receiving benefits2009-01-011
Number of other retired or separated participants entitled to future benefits2009-01-0113
Total of all active and inactive participants2009-01-0183
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-011
Total participants2009-01-0184
Number of participants with account balances2009-01-0181
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-014

Financial Data on SHARON CREDIT UNION EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST

Measure Date Value
2020 : SHARON CREDIT UNION EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2020 401k financial data
Unrealized appreciation/depreciation of real estate assets2020-05-29$0
Unrealized appreciation/depreciation of other (non real estate) assets2020-05-29$0
Total unrealized appreciation/depreciation of assets2020-05-29$0
Total transfer of assets to this plan2020-05-29$0
Total transfer of assets from this plan2020-05-29$7,040,641
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-05-29$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-05-29$0
Expenses. Interest paid2020-05-29$0
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022020-05-29$0
Total income from all sources (including contributions)2020-05-29$-375,123
Total loss/gain on sale of assets2020-05-29$0
Total of all expenses incurred2020-05-29$616,812
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2020-05-29$615,350
Expenses. Certain deemed distributions of participant loans2020-05-29$0
Value of total corrective distributions2020-05-29$0
Total contributions o plan (from employers,participants, others, non cash contrinutions)2020-05-29$0
Value of total assets at end of year2020-05-29$0
Value of total assets at beginning of year2020-05-29$8,032,576
Total of administrative expenses incurred including professional, contract, advisory and management fees2020-05-29$1,462
Total income from rents2020-05-29$0
Total interest from all sources2020-05-29$6,997
Total dividends received (eg from common stock, registered investment company shares)2020-05-29$25,640
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2020-05-29Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2020-05-29$0
Total dividends received from registered investment company shares (eg mutual funds)2020-05-29$25,640
Assets. Real estate other than employer real property at end of year2020-05-29$0
Assets. Real estate other than employer real property at beginning of year2020-05-29$0
Administrative expenses professional fees incurred2020-05-29$0
Assets. Corporate prefeered stocks other than exployer securities at end of year2020-05-29$0
Assets. Corporate prefeered stocks other than exployer securities at beginning of year2020-05-29$0
Was this plan covered by a fidelity bond2020-05-29Yes
Value of fidelity bond cover2020-05-29$2,000,000
If this is an individual account plan, was there a blackout period2020-05-29Yes
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-05-29$0
Were there any nonexempt tranactions with any party-in-interest2020-05-29No
Contributions received from participants2020-05-29$0
Participant contributions at end of year2020-05-29$0
Participant contributions at beginning of year2020-05-29$280,765
Participant contributions at end of year2020-05-29$0
Participant contributions at beginning of year2020-05-29$1,125
Assets. Other investments not covered elsewhere at end of year2020-05-29$0
Assets. Other investments not covered elsewhere at beginning of year2020-05-29$0
Income. Received or receivable in cash from other sources (including rollovers)2020-05-29$0
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2020-05-29$0
Value of other receiveables (less allowance for doubtful accounts) at end of year2020-05-29$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2020-05-29$0
Assets. Loans (other than to participants) at end of year2020-05-29$0
Assets. Loans (other than to participants) at beginning of year2020-05-29$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2020-05-29$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2020-05-29$0
Other income not declared elsewhere2020-05-29$0
Administrative expenses (other) incurred2020-05-29$1,462
Liabilities. Value of operating payables at end of year2020-05-29$0
Liabilities. Value of operating payables at beginning of year2020-05-29$0
Total non interest bearing cash at end of year2020-05-29$0
Total non interest bearing cash at beginning of year2020-05-29$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2020-05-29No
Income. Non cash contributions2020-05-29$0
Value of net income/loss2020-05-29$-991,935
Value of net assets at end of year (total assets less liabilities)2020-05-29$0
Value of net assets at beginning of year (total assets less liabilities)2020-05-29$8,032,576
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2020-05-29No
Were any loans by the plan or fixed income obligations due to the plan in default2020-05-29No
Were any leases to which the plan was party in default or uncollectible2020-05-29No
Assets. partnership/joint venture interests at end of year2020-05-29$0
Assets. partnership/joint venture interests at beginning of year2020-05-29$0
Investment advisory and management fees2020-05-29$0
Value of interest in registered invesment companies (eg mutual funds) at end of year2020-05-29$0
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2020-05-29$6,516,555
Value of interest in pooled separate accounts at end of year2020-05-29$0
Value of interest in pooled separate accounts at beginning of year2020-05-29$0
Interest on participant loans2020-05-29$6,997
Income. Interest from loans (other than to participants)2020-05-29$0
Interest earned on other investments2020-05-29$0
Income. Interest from US Government securities2020-05-29$0
Income. Interest from corporate debt instruments2020-05-29$0
Value of interest in master investment trust accounts at end of year2020-05-29$0
Value of interest in master investment trust accounts at beginning of year2020-05-29$0
Value of interest in common/collective trusts at end of year2020-05-29$0
Value of interest in common/collective trusts at beginning of year2020-05-29$1,138,389
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2020-05-29$0
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2020-05-29$0
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2020-05-29$0
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2020-05-29$0
Assets. Value of investments in 103.12 investment entities at end of year2020-05-29$0
Assets. Value of investments in 103.12 investment entities at beginning of year2020-05-29$0
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2020-05-29$0
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2020-05-29$0
Expenses. Payments to insurance carriers foe the provision of benefits2020-05-29$0
Asset value of US Government securities at end of year2020-05-29$0
Asset value of US Government securities at beginning of year2020-05-29$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)2020-05-29$-416,240
Net investment gain/loss from pooled separate accounts2020-05-29$0
Net investment gain or loss from common/collective trusts2020-05-29$8,480
Net gain/loss from 103.12 investment entities2020-05-29$0
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2020-05-29No
Was there a failure to transmit to the plan any participant contributions2020-05-29No
Has the plan failed to provide any benefit when due under the plan2020-05-29No
Assets. Invements in employer securities at end of year2020-05-29$0
Assets. Invements in employer securities at beginning of year2020-05-29$0
Assets. Value of employer real property at end of year2020-05-29$0
Assets. Value of employer real property at beginning of year2020-05-29$0
Contributions received in cash from employer2020-05-29$0
Employer contributions (assets) at end of year2020-05-29$0
Employer contributions (assets) at beginning of year2020-05-29$95,742
Income. Dividends from preferred stock2020-05-29$0
Income. Dividends from common stock2020-05-29$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2020-05-29$615,350
Asset. Corporate debt instrument preferred debt at end of year2020-05-29$0
Asset. Corporate debt instrument preferred debt at beginning of year2020-05-29$0
Asset. Corporate debt instrument debt (other) at end of year2020-05-29$0
Asset. Corporate debt instrument debt (other) at beginning of year2020-05-29$0
Contract administrator fees2020-05-29$0
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32020-05-29Yes
Assets. Corporate common stocks other than exployer securities at end of year2020-05-29$0
Assets. Corporate common stocks other than exployer securities at beginning of year2020-05-29$0
Liabilities. Value of benefit claims payable at end of year2020-05-29$0
Liabilities. Value of benefit claims payable at beginning of year2020-05-29$0
Assets. Value of buildings and other operty used in plan operation at end of year2020-05-29$0
Assets. Value of buildings and other operty used in plan operation at beginning of year2020-05-29$0
Did the plan have assets held for investment2020-05-29No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2020-05-29No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2020-05-29Yes
Aggregate proceeds on sale of assets2020-05-29$0
Aggregate carrying amount (costs) on sale of assets2020-05-29$0
Liabilities. Value of acquisition indebtedness at end of year2020-05-29$0
Liabilities. Value of acquisition indebtedness at beginning of year2020-05-29$0
Opinion of an independent qualified public accountant for this plan2020-05-29Unqualified
Accountancy firm name2020-05-29UHY, LLP
Accountancy firm EIN2020-05-29200694403
2011 : SHARON CREDIT UNION EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2011 401k financial data
Transfers to/from the plan2011-12-31$-5,483,814
Total income from all sources2011-12-31$842,165
Expenses. Total of all expenses incurred2011-12-31$252,341
Benefits paid (including direct rollovers)2011-12-31$216,296
Total plan assets at end of year2011-12-31$0
Total plan assets at beginning of year2011-12-31$4,893,990
Value of fidelity bond covering the plan2011-12-31$1,000,000
Total contributions received or receivable from participants2011-12-31$197,120
Expenses. Other expenses not covered elsewhere2011-12-31$3,896
Other income received2011-12-31$156,070
Net income (gross income less expenses)2011-12-31$589,824
Net plan assets at end of year (total assets less liabilities)2011-12-31$0
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$4,893,990
Total contributions received or receivable from employer(s)2011-12-31$488,975
Expenses. Administrative service providers (salaries,fees and commissions)2011-12-31$32,149
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0
2010 : SHARON CREDIT UNION EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2010 401k financial data
Total income from all sources2010-12-31$1,171,773
Expenses. Total of all expenses incurred2010-12-31$265,108
Benefits paid (including direct rollovers)2010-12-31$233,793
Total plan assets at end of year2010-12-31$4,893,990
Total plan assets at beginning of year2010-12-31$3,987,325
Value of fidelity bond covering the plan2010-12-31$1,000,000
Total contributions received or receivable from participants2010-12-31$172,583
Other income received2010-12-31$497,863
Net income (gross income less expenses)2010-12-31$906,665
Net plan assets at end of year (total assets less liabilities)2010-12-31$4,893,990
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$3,987,325
Assets. Value of participant loans2010-12-31$244,445
Total contributions received or receivable from employer(s)2010-12-31$501,327
Expenses. Administrative service providers (salaries,fees and commissions)2010-12-31$31,315
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0
2009 : SHARON CREDIT UNION EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2009-12-31$0

Form 5500 Responses for SHARON CREDIT UNION EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST

2020: SHARON CREDIT UNION EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Submission has been amendedNo
2020-01-01This submission is the final filingYes
2020-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2011: SHARON CREDIT UNION EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Submission has been amendedNo
2011-01-01This submission is the final filingYes
2011-01-01This return/report is a short plan year return/report (less than 12 months)No
2011-01-01Plan is a collectively bargained planNo
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement - TrustYes
2010: SHARON CREDIT UNION EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2010 form 5500 responses
2010-01-01Type of plan entitySingle employer plan
2010-01-01Submission has been amendedNo
2010-01-01This submission is the final filingNo
2010-01-01This return/report is a short plan year return/report (less than 12 months)No
2010-01-01Plan is a collectively bargained planNo
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement - TrustYes
2009: SHARON CREDIT UNION EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedNo
2009-01-01This submission is the final filingNo
2009-01-01This return/report is a short plan year return/report (less than 12 months)No
2009-01-01Plan is a collectively bargained planNo
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement - TrustYes

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