2025-04-09T13:21:38+00:00 2024-12-31 440160260 Forvis Mazars LLP 1201 Walnut Suite 1700 Kansas City MO 641062246 990 2024-01-01 237024415 Missouri Credit Union MISS 5738741477 111 E Broadway Columbia MO 65203 ROBERT P PERKINS CFO 5738741477 2025-04-09 true true April Arnold P01559426 8162216300 2025-04-09 2024 2025-03-06 01:10:19Z HAROLD JAMES 111 E Broadway Columbia MO 65203 33383224 false X WWW.MISSOURICU.ORG X 1969 MO MISSOURI CREDIT UNION (MCU) IS OPERATED FOR MUTUAL PURPOSES. 10 10 122 14 158856 0 0 0 23273071 25116170 5968485 8104122 158296 162932 29399852 33383224 81505 62866 6695889 9200777 7100362 7524132 0 0 0 10435277 11161416 24313033 27949191 5086819 5434033 537313890 563405047 487873962 509793876 49439928 53611171 X WE BELIEVE THAT MISSOURI CREDIT UNION: -STRIVES TO EXTEND TO OUR FIELD OF MEMBERSHIP THE OPPORTUNITY TO PARTICIPATE IN SERVICES AND BENEFITS WHICH MEMBERSHIP PROVIDES; -ENCOURAGE SOUND FINANCIAL MANAGEMENT THROUGH SAVINGS, THE WISE USE OF CREDIT AND CONSUMER EDUCATION; -FOSTERS AND PRACTICES THE PRINCIPLES OF COOPERATIVE POOLING AND UTILIZATION OF RESOURCES FOR THE ULTIMATE BENEFIT OF OUR MEMBER/OWNERS; -MAINTAINS AND ENHANCES PARTICIPATION OF THE DEMOCRATIC PROCESS AT ALL LEVELS; -ATTRACTS AND DEVELOPS THE BEST POSSIBLE HUMAN RESOURCES AT ALL LEVELS TO SERVICE OUR MEMBER/OWNER; AND -STRIVES TO MAINTAIN MEMBER/OWNER CONFIDENCE THROUGH PRUDENT FINANCIAL MANAGEMENT AND QUALITY SERVICE. false false ONE OF THE CREDIT UNION'S PRIMARY PURPOSES IS TO PROVIDE CREDIT TO ITS MEMBERS AT A COMPETITIVE RATE. THE CREDIT UNION PROVIDES SECURED, UNSECURED AND REAL ESTATE LOANS TO ELIGIBLE MEMBERS. OUT OF 36,848 MEMBERS, THE CREDIT UNION HAD 23,708 LOANS OUTSTANDING AT 12/31/24, INCLUDING MORTGAGES SOLD WITH SERVICING RETAINED. A PARTICIPATION INTEREST WAS ALSO OWNED IN AN ADDITIONAL 65,491 LOANS. THE CREDIT UNION OFFERS DEPOSIT SERVICES TO ELIGIBLE MEMBERS. THE CREDIT UNION OFFERS SAVINGS ACCOUNTS, CHECKING ACCOUNTS, CERTIFICATES AND INDIVIDUAL RETIREMENT ACCOUNTS TO ALL MEMBERS. IN ORDER TO MAINTAIN A SHARE ACCOUNT AN INDIVIDUAL MUST BE ELIGIBLE FOR MEMBERSHIP. AT 12/31/24 THERE WERE 69,160 DEPOSIT ACCOUNTS BEING SERVICED. ONE OF THE DELIVERY CHANNELS FOR THE VARIOUS PRODUCTS IS ELECTRONIC DELIVERY. THE CREDIT UNION OFFERS DEBIT CARDS, ATM ACCESS, AUDIO RESPONSE ACCOUNT ACCESS, INTERNET ACCOUNT ACCESS AND MOBILE ACCOUNT ACCESS. ALL SERVICES ARE OFFERED AT NO COST TO ELIGIBLE MEMBERS. THE CREDIT UNION BELONGS TO THE CO-OP ATM NETWORK WHICH ENABLES MEMBERS TO USE NETWORK RELATED ATMS NATIONWIDE WITH NO SURCHARGE. CREDIT UNION SHARED BRANCHING TRANSACTIONS ARE ALSO OFFERED NATIONWIDE. THE CREDIT UNION ALSO OFFERS FIRST TIME HOME BUYER CREDITS, DEBIT CARDS, BRANDED CREDIT CARDS, REMOTE DEPOSIT CAPTURE, ACH ORIGINATION, DIRECT DEPOSIT SERVICES AND WIRE TRANSFERS TO ELIGIBLE MEMBERS. 0 false false false false false false false false true false true true false false true false false false false false false false false false false false false true true true false false false false false true false false false false false false false false false false false false false false true 13608 0 true 122 true true true false false false false false false false X 10 10 false false false false true true true true true false true true true true true true true true true false false false X ROBERT P PERKINS 5738741477 111 E Broadway Columbia MO 65203 HOWARD PYRON TREASURER 0.5 0.0 X X 0 0 0 KEE GROSHONG CHAIR 0.5 0.0 X X 0 0 0 MARK KAISER VICE CHAIR 0.5 0.0 X X 0 0 0 RICHARD OTTO SECRETARY 0.5 0.0 X X 0 0 0 ANDY BONDERER DIRECTOR 0.5 0.0 X 0 0 0 ANNE ROBINSON DIRECTOR 0.5 0.0 X 0 0 0 BETHANY ABELN DIRECTOR 0.5 0.0 X 0 0 0 DON GREER DIRECTOR 0.5 0.0 X 0 0 0 RANDY MORROW DIRECTOR 0.5 0.0 X 0 0 0 STEPHEN PRICE DIRECTOR 0.5 0.0 X 0 0 0 DEANN BARTON COO 40.0 0.0 X 238950 0 35897 HAROLD JAMES PRESIDENT 40.0 0.0 X 588131 0 49498 ROBERT PERKINS CFO 40.0 0.0 X 245768 0 35782 CHENGFAN XU SR VICE PRESIDENT UNTIL 4/5/2024 40.0 0.0 X 150381 0 8178 DAVID MORROW VICE PRESIDENT 40.0 0.0 X 143129 0 13819 Denise Huddleston VICE PRESIDENT 40.0 0.0 X 123366 0 21512 KRISTY BRYANT VICE PRESIDENT 40.0 0.0 X 142631 0 25342 LORI RHOADES VICE PRESIDENT 40.0 0.0 X 121468 0 46582 MARGIE BRAMON VICE PRESIDENT 40.0 0.0 X 118129 0 23281 1871953 0 259891 9 false true false BUCKET MEDIA 1123 WILKES BLVD Ste 330 COLUMBIA MO 65201 MEDIA PLANNING & BUYING 378440 JACK HENRY & ASSOCIATES PO BOX 609 MONETT MO 65708 SOFTWARE SUPPORT & MAINTENANCE 351307 ACCESS SOFTEK INC 727 ALLSTON WAY Ste C BERKELEY CA 94710 MOBILE AND HOME BANKING 242091 STRATEGY CORPS PO BOX 1167 BRENTWOOD TN 37024 CHECKING REWARDS 194238 CORNERSTONE ADVISORS OF AZ 7272 EAST INDIAN SCHOOL RD STE 400 SCOTTSDALE AZ 85251 VENDOR MANAGEMENT 141556 10 0 INTEREST ON MEMBER LOANS 522100 20115090 20115090 FEES AND CHARGES 522100 2561896 2561018 878 MISCELLANEOUS OPERATING REVENUE 522100 2124472 2048169 76303 NON-INTEREST REVENUE 522100 314712 242253 72459 0 0 0 0 25116170 7678912 7678912 162932 0 162932 0 162932 9216 153716 425210 0 0 425210 425210 425210 0 0 0 0 0 0 33383224 24966530 158856 8257838 22866 40000 9200777 1352585 4682250 393290 673493 422514 17682 157090 350041 780011 1342423 790354 930196 82430 1141 6287 684795 265496 Loan Servicing 5410108 State & Other Franchise Taxes 335641 ATM 7721 0 27949191 3510988 3517815 1565762 1199552 8678449 8777127 0 0 331326738 312965932 2540482 490996 22803725 13441982 9965804 9361743 167352963 214619276 0 12372704 12472606 537313890 563405047 9182193 7189623 1058390 1030516 1300962 1611524 0 131147 104049 476201270 499858164 487873962 509793876 X 49439928 53611171 49439928 53611171 537313890 563405047 5434033 -1262790 0 X false true true false false true X 4423330 4423330 8486077 4034288 4451789 1721938 1721938 0 8172380 7685756 486624 9361743 Closely-held equity interests Financial derivatives CORP CREDIT UNION DEPOSITS 374759 C FRB DEPOSITS 152038085 C COMMERCIAL BANK DEPOSITS 161921 C FHLB DEPOSITS 2868773 C FEDERAL AGENCY SECURITIES 59175738 F 214619276 Federal Income Taxes Members Shares and Deposits 499858164 499858164 0 0 0 0 0 0 0 0 0 0 0 0 Schedule D, Part IV, Line 2b Explanation of escrow agreement THE CREDIT UNION HOLDS FUNDS IN ESCROW FOR REAL ESTATE LOANS THAT HAVE BEEN SOLD, BUT ARE STILL SERVICED BY MCU. THERE IS AN OFFSETTING ENTRY BECAUSE THE FUNDS ARE TECHNICALLY OWNED BY THE GOVERNMENT DEPOSITORS WHO OWN THE CORRESPONDING LOANS. true THE FOOD BANK OF CENTRAL AND NORTHEAST MISSOURI 2101 VANDIVER DR COLUMBIA MO 65202 431238934 501(C)(3) 11700 GENERAL OPERATIONS 1 0 SCHOLARSHIPS 16 40000 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. HIGH SCHOOL SENIORS GRADUATING DURING THE YEAR ARE AWARDED $2,500 SCHOLARSHIPS. THE FUNDS ARE INTENDED TO BE USED TO OFFSET THE COST OF ATTENDING A 4-YEAR COLLEGE/UNIVERSITY OR A 2-YEAR TECHNICAL SCHOOL. THE FUNDS ARE PAID TO THE INDIVIDUAL AND ARE NOT RESTRICTED. GRANTS TO ORGANIZATIONS ARE AUTHORIZED BY THE BOARD AND NO MONITORING IS PERFORMED OR REQUIRED. X X X X false false false HAROLD JAMES PRESIDENT 488131 0 100000 0 0 0 38156 0 11342 0 637629 0 0 0 ROBERT PERKINS CFO 227768 0 18000 0 0 0 23558 0 12224 0 281550 0 0 0 DEANN BARTON COO 220950 0 18000 0 0 0 23008 0 12889 0 274847 0 0 0 CHENGFAN XU SR VICE PRESIDENT UNTIL 4/5/2024 150381 0 0 0 0 0 3440 0 4738 0 158559 0 0 0 DAVID MORROW VICE PRESIDENT 143129 0 0 0 0 0 12892 0 927 0 156948 0 0 0 LORI RHOADES VICE PRESIDENT 111968 0 9500 0 0 0 13022 0 33560 0 168050 0 0 0 KRISTY BRYANT VICE PRESIDENT 133131 0 9500 0 0 0 13985 0 11357 0 167973 0 0 0 HAROLD JAMES PRESIDENT/CEO SPLIT DOLLAR LIFE INSURANCE POLICY X 4102876 8777127 false true true 8777127 Form 990, Part I, Line 6 TOTAL NUMBER OF VOLUNTEERS THE 14 VOLUNTEERS CONSISTED OF THE BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE. Form 990, Part III, Line 4d Description of other program services (Expenses $ including grants of $) THE CREDIT UNION ALSO OFFERS FIRST TIME HOME BUYER CREDITS, DEBIT CARDS, BRANDED CREDIT CARDS, REMOTE DEPOSIT CAPTURE, ACH ORIGINATION, DIRECT DEPOSIT SERVICES AND WIRE TRANSFERS TO ELIGIBLE MEMBERS. Form 990, Part VI, Line 6 Classes of members or stockholders THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. Form 990, Part VI, Line 11b Review of form 990 by governing body AN INDEPENDENT ACCOUNTING FIRM PREPARES AND REVIEWS THE FORM 990. THE FORM 990 IS THEN PROVIDED TO EXECUTIVE MANAGEMENT AND THE BOARD OF DIRECTORS FOR THEIR REVIEW PRIOR TO FILING THE 990. ANY QUESTIONS OR CONCERNS THE BOARD MAY HAVE ARE ADDRESSED AND ANY CORRECTIONS OR CLARIFICATIONS THAT NEED TO BE MADE ARE MADE PRIOR TO FILING THE 990 WITH THE IRS. Form 990, Part VI, Line 12c Conflict of interest policy ALL VOLUNTEERS, ELECTED BOARD MEMBERS, AND OFFICERS OF MISSOURI CREDIT UNION (MCU) SIGN AN OATH OF OFFICE REGARDING CONFLICT OF INTEREST. IF A CONFLICT DOES EXIST, BOARD MEMBERS ARE REQUIRED TO RECUSE THEMSELVES IMMEDIATELY AND LEAVE THE ROOM DURING DISCUSSION AND/OR VOTING ON ITEMS WHERE A CONFLICT EXISTS. CONFLICT OF INTEREST IS SPECIFICALLY NOTED IN THE MCU HUMAN RESOURCES POLICY AND REVIEWED WITH ALL STAFF. ANY MCU STAFF FOUND TO ENGAGE IN THESE BEHAVIORS ARE IMMEDIATELY DISCIPLINED, UP TO AND INCLUDING TERMINATION. IN ADDITION, ALL MCU STAFF ARE REQUIRED TO ANNUALLY TAKE CONTINUING TRAINING WHICH INCLUDES TESTING ON THESE AND OTHER SIGNIFICANT TOPICS. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE PRESIDENT/CEO'S SALARIES AND BENEFITS PACKAGE. LOCAL MARKET DATA OF SALARY AND BENEFIT PACKAGES IN THE LOCAL REGION IS PROVIDED CONTINUALLY BY HUMAN RESOURCES. THIRD PARTY DATA IS ALSO PURCHASED, AVAILABLE AND UPDATED ON A CONTINUING BASIS. LONG TERM COMPENSATION OBJECTIVES HAVE FOCUSED ON STAFF RETENTION BY PROVIDING AND MAINTAINING PAY AND BENEFITS PACKAGES IN THE UPPER 25TH QUADRANT OF ANY OF THESE MARKET INDICATORS. ALSO THE CEO HAS AN ANNUAL EVALUATION TO ASSESS ACHIEVEMENT DURING THE PERIOD OF ESTABLISHED MCU GOALS AND OBJECTIVES. ALL SALARIES AND BENEFITS PACKAGES OF SENIOR MANAGEMENT ARE REVIEWED ANNUALLY BY THE PRESIDENT/CEO AND THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS DOES NOT APPROVE THE SALARIES AND BENEFITS PACKAGES OF ALL SENIOR MANAGEMENT BUT DOES REVIEW. Form 990, Part VI, Line 19 Required documents available to the public FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). Form 990, Part XII, Line 2b AUDITED FINANCIAL STATEMENTS THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AUDITED ON A SEPARATE BASIS BY AN INDEPENDENT ACCOUNTANT. HOWEVER, THE FINANCIAL STATEMENTS ARE AUDITED ON A FISCAL YEAR-END BASIS OF SEPTEMBER 30TH, WHILE THE ORGANIZATION'S TAX YEAR-END IS DECEMBER 31ST. Form 990, Part XII, Line 2c OVERSIGHT AND SELECTION PROCESS THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR TAX YEAR.