2024-11-07T15:48:42-06:00 2023-12-31 202122306 GBQ PARTNERS LLC 4030 SMITH ROAD SUITE 400 CINCINNATI OH 45209 990 2023-01-01 370767435 CREDIT UNION 1 CRED 8002526950 200 E CHAMPAIGN AVE RANTOUL IL 618662930 SCOTT MCDONALD CFO/EVP 8002526950 2024-11-06 1 1 KATHY M MOSELEY P00116760 5138713033 2024-11-06 2023 2024-10-15 13:58:12Z SCOTT MCDONALD 200 E CHAMPAIGN AVE RANTOUL IL 618662930 105898634 0 X WWW.CREDITUNION1.ORG X CREDIT UNION 1958 IL CREDIT UNION 1 IS A MEMBER-OWNED AND CONTROLLED FINANCIAL INSTITUTION DEDICATED TO PROVIDING CONVENIENT AND COMPETITIVE SERVICES AS A MEANS OF IMPROVING ONGOING ECONOMIC WELL-BEING OF OUR MEMBERS WHILE PROMOTING GROWTH AND MAINTAINING THE CREDIT UNION'S LONG-TERM FINANCIAL STABILITY. 8 7 329 9 0 0 0 0 47263470 58151280 3453551 19471849 23504880 20439798 74221901 98062927 0 0 0 0 32316856 39217612 0 0 0 32035347 48987681 64352203 88205293 9869698 9857634 1585978393 1699028667 1455360872 1566095833 130617521 132932834 X CREDIT UNION 1 IS A MEMBER-OWNED AND CONTROLLED FINANCIAL INSTITUTION DEDICATED TO PROVIDING CONVENIENT AND COMPETITIVE SERVICES AS A MEANS OF IMPROVING ONGOING ECONOMIC WELL-BEING OF OUR MEMBERS WHILE PROMOTING GROWTH AND MAINTAINING THE CREDIT UNION'S LONG-TERM FINANCIAL STABILITY. 0 0 PROVIDE FINANCIAL SERVICES TO ITS MEMBERS. 0 0 0 0 0 0 0 1 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1919 0 1 329 1 0 0 0 0 0 0 0 0 0 0 X 8 7 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X AL NUKU VP OF ACCOUNTING 2178939112 200 E CHAMPAIGN AVE RANTOUL IL 618662930 ROBERT EBERHARDT DIRECTOR - CHAIR 2.00 X X 21600 0 26058 DAN LONG DIRECTOR 2.00 X 14400 0 8154 REX TOLLIVER DIRECTOR 2.00 X 14400 0 90 THOMAS WELLS JR DIRECTOR - SECRETARY 2.00 X X 14400 0 45 KENT YAGER DIRECTOR 2.00 X 14400 0 10906 PAUL SIMONS DIRECTOR 2.00 X 14400 0 59 TODD GUNDERSON PRESIDENT/CEO 40.00 X X 917707 0 53508 HALLIE OLSEN DIRECTOR 2.00 X 14400 0 90 DAVID THURSTON DIRECTOR - VICE CHAIR 2.00 X 14400 0 75 PAUL FICHTER EVP, GENERAL COUNSEL & CHI 40.00 X 363243 0 53508 MICHAEL HIRT SVP, CHIEF TECHNOLOGY OFFI 40.00 X 278216 0 52549 SCOTT MCDONALD EVP, CHIEF FINANCIAL OFFIC 40.00 X 363747 0 53508 JEFF ROTHMEYER EVP, CHIEF LENDING OFFICER 40.00 X 360855 0 53356 2406168 0 311906 5 0 1 0 DEI INC PO BOX 706377 CINCINNATI OH 452706377 CONSTRUCTION SERVICES 3428041 Q2 SOFTWARE INC PO BOX 205970 DALLAS TX 753205970 ONLINE BANKING PLATORM 1686392 SERVION INC 500 MAIN STREET NEW BRIGHTON MN 55112 LOAN SERVICING 814979 LKCS INC 4130 PLANK ROAD PERU IL 61354 PRINTING SERVICES 681658 MICROAGE PO BOX 93655 LAS VEGAS NV 891933655 IT SERVICES 673940 8 LOAN INCOME 522100 58151280 58151280 58151280 12493612 12493612 14813944 7835707 6978237 6978237 6978237 OTHER INCOME 900099 20439798 20439798 20439798 98062927 65129517 0 32933410 2718074 28764171 5122068 2613299 3211379 2530783 16202245 2183283 2645451 DIVIDEND EXPENSE 16387048 LOAN PROCESSING 4434959 BOARD & STAFF 1461687 PROVISION FOR LOAN LOSS -182577 113423 88205293 28339687 22296665 25929256 326828578 1340152720 1185868768 39768652 18906547 25253121 20862105 56491992 30290786 28160773 20738181 593731 652936 81057113 91490648 1585978393 1699028667 70000000 65379487 5796299 3022714 3869068 2785481 1375695505 1494908151 1455360872 1566095833 X 0 0 0 0 130617521 132932834 130617521 132932834 1585978393 1699028667 X 9857634 -7542321 X X 0 1 X 1 0 0 1 X 947461 947461 7459258 6334891 1124367 8900404 2678397 6222007 8154572 5335517 2819055 14306957 4557742 9749215 20862105 OTHER ASSETS 72562447 ACCRUED INTEREST RECEIVABLE 5891128 AMERICAN SHARE INSURANCE DEPOSIT 13037073 91490648 SHARE DRAFT DEPOSITS 334541950 MEMBER SHARE DEPOSITS (SAVINGS AND MEMBERSHIP) 676379869 MONEY MARKET SHARE DEPOSIT 125446815 IRAS 42428301 CD'S 258372619 OTHER LIABILITIES 57738597 1494908151 X PART IV, LINE 2B: THE CREDIT UNION SERVICES 1ST MORTGAGE LOANS AND AS PART OF PROVIDING THIS SERVICE, COLLECTS PROPERTY INSURANCE AND REAL ESTATE TAX PAYMENTS MONTHLY FROM HOME OWNERS. THE CREDIT UNION HOLDS THE FUNDS IN ESCROW UNTIL THE INSURANCE PREMIUMS OR TAX BILLS ARE DUE. PART X, LINE 2: THE INTERNAL REVENUE SERVICE (IRS) AND CERTAIN STATE TAX AUTHORITIES ARE EVALUATING WHAT, IF ANY, PRODUCTS AND SERVICES PROVIDED BY STATE CHARTERED CREDIT UNIONS ARE SUBJECT TO UNRELATED BUSINESS INCOME (UBIT). IN 2007, THE IRS ISSUED CERTAIN TECHNICAL ADVICE MEMORANDA WITH RESPECT TO PRODUCTS AND SERVICES SUBJECT TO UBIT. THERE IS CURRENTLY VERY LITTLE GUIDANCE IN THE INTERNAL REVENUE CODE ON WHAT ACTIVITIES SHOULD BE SUBJECT TO UBIT. AS A RESULT, AT THIS TIME THE UNCERTAINTITY REGARDING WHETHER STATE CHARTERED CREDIT UNIONS SHOULD PAY INCOME TAX ON CERTAIN TYPES OF NET TAXABLE INCOME FROM ACTIVITIES THAT MAY BE CONSIDERED BY TAXING AUTHORITIES AS UNRELATED TO THE PURPOSE FOR WHICH THE CREDIT UNION WAS GRANTED NON-TAXABLE STATUS IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. X 1 1 X X X 0 0 0 TODD GUNDERSON PRESIDENT/CEO 592707 0 325000 0 0 0 27450 0 26058 0 971215 0 0 0 SCOTT MCDONALD EVP, CHIEF FINANCIAL OFFIC 305661 0 58086 0 0 0 27450 0 26058 0 417255 0 0 0 PAUL FICHTER EVP, GENERAL COUNSEL & CHI 305157 0 58086 0 0 0 27450 0 26058 0 416751 0 0 0 JEFF ROTHMEYER EVP, CHIEF LENDING OFFICER 303069 0 57786 0 0 0 27298 0 26058 0 414211 0 0 0 MICHAEL HIRT SVP, CHIEF TECHNOLOGY OFFI 230930 0 47286 0 0 0 26491 0 26058 0 330765 0 0 0 PART I, LINE 1A FOR ONE MEETING PER YEAR, A SPOUSE IS ALLOWED TO TRAVEL WITH THE BOARD MEMBER AND THE EXPENSE IS REIMBURSED TO THE BOARD MEMBER. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A CREDIT UNION MEMBERS, WHICH ARE THE DEPOSITORS, ELECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN TRANSACTIONS AND DECISIONS MAY BE SUBJECT TO APPROVAL BY MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE COMPLETED 990 IS REVIEWED BY THE EXECUTIVE VICE PRESIDENT OF FINANCE/CFO AND THE PRESIDENT/CEO. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY HAS NOT BEEN AN ISSUE AT THE CREDIT UNION. BOARD MEMBERS NOTIFY THE BOARD OF POTENTIAL CONFLICTS AND REMOVE HIM/HERSELF FROM DISCUSSION OF ANY SUCH AREAS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS REVIEWS THE PRESIDENT/CEO SALARY ANNUALLY AND UTILIZES A COMPENSATION SURVEY PREPARED BY CUES FOR COMPARABILITY PURPOSES. THE CUES EXECUTIVE COMPENSATION GUIDE IS UTILIZED BY THE CEO FOR SALARY COMPARABILITY FOR OFFICERS AND EMPLOYEES MAKING OVER $100,000. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN FUND BALANCE DUE TO CECL ADOPTION -7,542,321. PART XII, LINE 2C SUPERVISORY COMMITTEE ENGAGES THE CPA FIRM FOR AN ANNUAL AUDIT OF THE FINANCIAL STATEMENT. ADDITIONALLY THE SUPERVISORY COMMITTEE SUPERVISES THE INTERNAL AUDIT DEPARTMENT WHICH INCLUDES 3 EMPLOYEES. CUSO LTD 200 E CHAMPAIGN AVE RANTOUL IL 61866 371131037 DORMANT TRAVEL AGENCY IL C 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0