2024-06-25T17:49:01-05:00 2023-12-31 810781371 J TENBRINK & ASSOCIATES 11272 S RIDGEVIEW RD OLATHE KS 660616454 990 2023-01-01 430739854 VANTAGE CREDIT UNION VANT 3142980055 19 RESEARCH PARK COURT ST CHARLES MO 633045616 DOUGLAS RUCKMAN CHIEF FINANCIAL OFFICER 3142980055 2024-06-25 1 DOUGLAS RUCKMAN 999009999 0 GERALD TENBRINK P00638199 9138946214 2024-06-25 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z ERIC ACREE 19 RESEARCH PARK COURT ST CHARLES MO 633045616 71206678 0 X WWW.VCU.COM X 1957 MO ENHANCING YOUR LIFE, STRENGTHENING OUR COMMUNITY 7 7 324 12 1920982 0 0 0 50643125 59965348 3553040 7321490 129263 109184 54325428 67396022 10000 10000 0 0 24682328 24680295 0 0 0 27933198 47140229 52625526 71830524 1699902 -4434502 1166332861 1198376782 1091340376 1127003822 74992485 71372960 X ENHANCING YOUR LIFE, STRENGTHENING OUR COMMUNITY 0 1 PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 70,872 MEMBERS. PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, THERE WERE 118,827 LOANS OUTSTANDING TOTALING $812,249,142. PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $8,328,448 FOR THE YEAR. 0 0 1 0 0 0 0 1 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 24475 0 1 324 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 0 0 0 X DOUGLAS RUCKMAN 3142980055 19 RESEARCH PARK COURT ST CHARLES MO 633045616 DR JERRY EICHHOLZ CHAIRMAN 1.00 X 690 0 0 DANIEL DOLAN VICE CHAIRMAN 1.00 X 9312 0 0 MARK RUDOLPH SECRETARY/TREASURER 1.00 X 1364 0 0 TONI MARTIN DIRECTOR 1.00 X 0 0 0 LINDA CERIOTTI DIRECTOR 1.00 X 0 0 0 DR BARBARA EVANS-CUNNINGHAM DIRECTOR 1.00 X 923 0 0 BOB KLUGE DIRECTOR 1.00 X 0 0 0 ERIC ACREE PRESIDENT & CEO 40.00 X 647139 0 837724 DOUGLAS RUCKMAN CHIEF FINANCIAL OFFICER 40.00 X 324757 0 107903 JOHN HOPKINS CHIEF RISK OFFICER 40.00 X 302945 0 281475 MICHAEL GATRELL CHIEF GROWTH & REV OFFICER/PRES CUSO OPS 40.00 X 393985 0 755622 DANIEL JONES TERM 2223 CHIEF INFORMATION OFFICER 40.00 X 47847 0 8989 JONATHAN BROADFIELD INFORMATION SECURITY OFFICER 40.00 X 155290 0 45558 CHRISTOPHER SMITH DIRECTOR - MORTGAGE SOLUTIONS 40.00 X 241803 0 39604 HANS SMITH SENIOR FINANCIAL CONSULTANT 40.00 X 166635 0 18411 AMANDA BARCLIFF SENIOR FINANCIAL CONSULTANT 40.00 X 158841 0 33438 BETTY LEWIS CONTROLLER 40.00 X 144715 0 20176 CHRISTOPHER REED ACI NETWORK ENGINEER 40.00 X 154814 0 9289 2751060 0 2158189 32 0 1 0 RPA CONSTRUCTION SERVICES 10677 TRENTON AVE ST LOUIS MO 63132 CONSTRUCTION SERVICES 1433006 ATM SOLUTIONS INC 551 NORTHLAND BLVD CINCINNATI OH 45240 ATM SERVICING 551795 C & R MECHANICAL CO 12825 PENNRIDGE DRIVE BRIDGETON MO 63044 HEATING & COOLING SERVICES 527293 SALESFORCE COM INC PO BOX 203141 DALLAS TX 75320 SUITE OF ENTERPRISE APPLICATIONS 423638 FEDERAL PROTECTION INC 2500 N AIRPORT COMMERCE SPRINGFIELD MO 65803 SECURITY SERVICE 320361 21 INTEREST ON LOANS 522100 42147632 42147632 FEES & OTHER INCOME 522100 17110635 15896734 1213901 OTHER INSURANCE & WARRANTIES 524298 707081 707081 59965348 7257546 7257546 109184 109184 2003218 1871382 2061552 1749104 -58334 122278 63944 63944 67396022 65475040 1920982 0 10000 3921523 16370499 -268509 3335143 1321639 667579 183472 1515639 1540868 3404441 4603207 2676532 124406 166358 3539703 3583812 315623 MEMBER DIVIDENDS 8328448 LOAN SERVICING 6881465 PROVISION FOR LOAN LOSS 4641016 LEGAL SETTLEMENT 4050000 917660 71830524 33968625 30112067 62424599 68067233 732716629 806956438 2797785 2968733 78116224 29623036 49787913 48493188 235110020 192773745 49527290 49005378 1166332861 1198376782 20388117 27730665 881590 906925 40086939 115289954 1029983730 983076278 1091340376 1127003822 X 0 0 0 0 74992485 71372960 74992485 71372960 1166332861 1198376782 X -4434502 3307581 -2492604 X 0 1 X 1 0 3200 3200 3200 1 CUPAC OF MISSOURI 223 MADISON STREET JEFFERSON CITY MO 65101 431310069 3200 PART I-A, LINE 1: CONTRIBUTIONS TO A CREDIT UNION PAC 0 1 X 13193027 13193027 38505382 10723344 27782038 2428643 1753962 674681 23684768 16948657 6736111 304404 197073 107331 48493188 AFS-US TREASURY NOTES 88990001 F AFS-FEDERAL AGENCY SEC. 2752068 F HTM-MORTGAGE BACKED/CMO 31756940 C AFS-MORTGAGE BACKED SEC. 42972845 F AFS-COLL. MORTGAGE OBLIG. 5095395 F HTM-U.S. TREASURY BILLS 997729 C FHLB STOCK 5874800 C SERP PLAN INVESTMENTS 14333967 F 192773745 MEMBER SHARE DEPOSITS 983076278 983076278 X 67396022 0 67396022 0 67396022 71830524 0 71830524 0 71830524 PART IV, LINE 2B: THE CREDIT UNION MAINTAINS ESCROW ACCOUNTS FOR INSURANCE AND PROPERTY TAXES RELATED TO MEMBER REAL ESTATE LOANS. IN ADDITION, IN COORDINATION WITH GREENPATH FINANCIAL WELLNESS, THE CREDIT UNION PROVIDES MEMBERS WITH FREE FINANCIAL EDUCATION AND COUNSELING ON THE WEBSITE. PART X, LINE 2: THE CREDIT UNION IS EXEMPT BY STATUTE FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501 OF THE INTERNAL REVENUE CODE (IRC) OF 1954; HOWEVER, THE CREDIT UNION'S UNRELATED BUSINESS INCOME IS SUBJECT TO FEDERAL INCOME TAXES. THERE WERE NO SIGNIFICANT INCOME TAXES FOR THE YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022. ACCOUNTING PRINCIPLES PRESCRIBE A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE CREDIT UNION HAD NO UNRECOGNIZED TAX POSITIONS ON DECEMBER 31, 2023 AND DECEMBER 31, 2022. IT IS THE CREDIT UNION'S POLICY TO RECORD ANY PENALTIES OR INTEREST ARISING FROM FEDERAL OR STATE TAXES AS A COMPONENT OF NONINTEREST EXPENSE. 1 $1,000 NON-RENEWABLE SCHOLARSHIPS WERE AWARDED TO TEN VCU MEMBERS GRADUATING FROM HIGH SCHOOL 10 10000 PART I, LINE 2: THE "QUEST FOR EDUCATION" SCHOLARSHIP PROGRAM AWARDS $1,000 NON-RENEWABLE SCHOLARSHIPS TO GRADUATING HIGH SCHOOL SENIORS. TO BE ELIGIBLE, ENTRANTS MUST BE A VANTAGE PRIMARY ACCOUNT HOLDER AND SUBMIT A COMPLETED APPLICATION. APPLICATIONS ARE JUDGED BY A COMMITTEE OF LOCAL EDUCATORS, VANTAGE BOARD AND SUPERVISORY COMMITTEE MEMBERS AND SELECT EMPLOYEES. FUNDS ARE DISTRIBUTED DIRECTLY TO THE RECIPIENTS' CHOSEN ACCREDITED COLLEGE OR UNIVERSITY AT THE TIME OF FALL REGISTRATION AND CAN BE USED FOR BOOKS AND TUITION. X 1 1 X X X X 0 1 0 ERIC ACREE PRESIDENT & CEO 533641 0 113498 0 0 0 799321 0 38403 0 1484863 0 0 0 MICHAEL GATRELL CHIEF GROWTH & REV OFFICER/PRES CUSO 325085 0 68900 0 0 0 727983 0 27639 0 1149607 0 0 0 JOHN HOPKINS CHIEF RISK OFFICER 252945 0 50000 0 0 0 244556 0 36919 0 584420 0 0 0 DOUGLAS RUCKMAN CHIEF FINANCIAL OFFICER 274757 0 50000 0 0 0 80596 0 27307 0 432660 0 0 0 CHRISTOPHER SMITH DIRECTOR - MORTGAGE SOLUTIONS 33360 0 208443 0 0 0 14907 0 24697 0 281407 0 0 0 JONATHAN BROADFIELD INFORMATION SECURITY OFFICER 154590 0 0 0 700 0 9867 0 35691 0 200848 0 0 0 AMANDA BARCLIFF SENIOR FINANCIAL CONSULTANT 5528 0 153313 0 0 0 9918 0 23520 0 192279 0 0 0 HANS SMITH SENIOR FINANCIAL CONSULTANT 10898 0 155737 0 0 0 8797 0 9614 0 185046 0 0 0 BETTY LEWIS CONTROLLER 133715 0 11000 0 0 0 8056 0 12120 0 164891 0 0 0 CHRISTOPHER REED ACI NETWORK ENGINEER 154814 0 0 0 0 0 9289 0 0 0 164103 0 0 0 PART I, LINE 1A THE CREDIT UNION PROVIDED TRAVEL FOR COMPANIONS OF THE FOLLOWING BOARD MEMBERS RELATED TO CREDIT UNION INDUSTRY CONFERENCES AND SEMINARS: -JERRY EICHHOLZ, CHAIRMAN - $690 -DANIEL DOLAN, VICE CHAIRMAN - $9,312 -MARK RUDOLPH, SECRETARY/TREASURER - $1,364 -DR. BARBARA EVANS-CUNNINGHAM, DIRECTOR - $923 AMOUNTS WERE REPORTED ON FORM 1099-MISC. PART I, LINE 3 THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE PRESIDENT'S PERFORMANCE AND DETERMINES COMPENSATION WITH THE ASSISTANCE OF AN INDEPENDENT CONSULTANT AND PURSUANT TO A SIGNED EMPLOYMENT CONTRACT. THE BOARD'S DELIBERATIONS AND DECISIONS ARE DOCUMENTED IN THE MINUTES. PART I, LINE 4B IN 2022, THE CREDIT UNION ADOPTED NONQUALIFIED DEFERRED COMPENSATION PLANS FOR MEMBERS OF MANAGEMENT. THE PARTICIPANTS ARE ENTITLED TO SPECIFIED AMOUNTS IF THEY REMAIN EMPLOYED BY THE CREDIT UNION FOR A PREDETERMINED PERIOD OF TIME. THE PARTICIPANTS AND AMOUNTS ACCRUED IN 2023 ARE LISTED BELOW: -ERIC ACREE, PRESIDENT & CEO - $779,521 -MICHAEL GATRELL, CHIEF GROWTH & REVENUE OFFICER/PRES CUSO OPS - $708,183 -JOHN HOPKINS, CHIEF RISK OFFICER - $226,643 -DOUGLAS RUCKMAN, CHIEF FINANCIAL OFFICER - $63,410 NO AMOUNTS WERE PAID OUT IN 2023. FORM 990, PART III, LINE 3 DURING THE YEAR, THE CREDIT UNION IMPLEMENTED A NEW ONLINE BANKING SYSTEM; AND ELIMINATED RETURN DEPOSIT ITEM FEES AND ODLOC OVERDRAFT FEES. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS MUTUALLY OWNED BY MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS ARE ELECTED BY THE CREDIT UNION MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN SIGNIFICANT CHANGES ARE SUBJECT TO APPROVAL BY THE CREDIT UNION MEMBERS; HOWEVER, NO SUCH CHANGES WERE MADE DURING THE YEAR. FORM 990, PART VI, SECTION B, LINE 11B CREDIT UNION MANAGEMENT PROVIDES AN OUTSIDE ACCOUNTING FIRM THE DATA NEEDED TO PREPARE THE FORM 990, AND SENIOR MANAGEMENT REVIEWS IT PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, THE PRESIDENT AND ALL DIRECTORS, COMMITTEE MEMBERS, AND KEY EMPLOYEES ARE REQUIRED TO REVIEW THE CONFLICT OF INTEREST POLICY, DISCLOSE ANY INTERESTS THAT COULD GIVE RISE TO CONFLICTS, AND SUBMIT A SIGNED STATEMENT TO THAT EFFECT. THESE STATEMENTS ARE MAINTAINED ON FILE AT THE CREDIT UNION. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE PRESIDENT'S PERFORMANCE AND DETERMINES COMPENSATION WITH THE ASSISTANCE OF AN INDEPENDENT CONSULTANT AND PURSUANT TO A SIGNED EMPLOYMENT CONTRACT. ALL OTHER MANAGEMENT COMPENSATION IS DETERMINED BY THE PRESIDENT AND IS PRESENTED AS PART OF THE BUDGET PACKAGE TO THE BOARD OF DIRECTORS FOR APPROVAL. THE BOARD'S DELIBERATIONS AND DECISIONS ARE DOCUMENTED IN THE MINUTES. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE PRESENTED AT THE ANNUAL MEETING AND ARE AVAILABLE UPON REQUEST. IN ADDITION, THE NCUA WEBSITE POSTS FINANCIAL INFORMATION AS PART OF THE QUARTERLY CALL REPORTS. OTHER DOCUMENTS, POLICIES, AND PROCEDURES ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: MINIMUM PENSION LIABILITY ADJUSTMENT -1,283,614. CECL TRANSITION ADJUSTMENT -1,222,442. DISSOLUTION OF TECHATCHERY, LLC 13,452. MEMBERS RESOURCE LLC 19 RESEARCH PARK COURT ST CHARLES MO 633045616 274479158 CREDIT UNION SERVICE ORGANIZATION PROVIDING MORTGAGE AND INSURANCE SERVICES MO 3542342 6966728