EMPEOPLE CREDIT UNION: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- EMPEOPLE CREDIT UNION (EIN 36-2472059)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-05-12
- IRS object ID
- 202321329349304947
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-05-12T13:16:54-07:00 | ReturnTs |
| Tax Period End | 2022-12-31 | TaxPeriodEndDt |
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 362472059 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EMPEOPLE CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | EMPE | BusinessNameControlTxt |
| Phone | 3097431000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 339 | AddressLine1Txt |
| City | Moline | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 61266 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Heidi Wulf | PersonNm |
| Person Title | Chief Financial Officer | PersonTitleTxt |
| Phone | 3097431032 | PhoneNum |
| Signature | 2023-05-12 | SignatureDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 1 | TrustedCustomerCd |
| OOB Security Verification | 11 | OOBSecurityVerificationCd |
| Last Submission Rqr OOB | 1 | LastSubmissionRqrOOBCd |
| Authentication Assurance Level | AAL2 | AuthenticationAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Change | Yes (X) | NameChangeInd |
| Principal Officer | Heidi Wulf | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3950 38th Ave | AddressLine1Txt |
| City | Moline | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 61265 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $98,666,106 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | www.empeople.com | WebsiteAddressTxt |
| Type Of Organization Other | Yes (X) | TypeOfOrganizationOtherInd |
| Other Organization Dsc | Cooperative | OtherOrganizationDsc |
| Formation | 1935 | FormationYr |
| Legal Domicile State | IL | LegalDomicileStateCd |
| Activity Or Mission | Credit Union operated for mutual purpose | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 8 | VotingMembersIndependentCnt |
| Total Employee | 293 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $44,660,122 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $59,247,663 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,236,390 | PYInvestmentIncomeAmt |
| CY Investment Income | $2,999,575 | CYInvestmentIncomeAmt |
| PY Other Revenue | $36,216,261 | PYOtherRevenueAmt |
| CY Other Revenue | $36,418,868 | CYOtherRevenueAmt |
| PY Total Revenue | $82,112,773 | PYTotalRevenueAmt |
| CY Total Revenue | $98,666,106 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $26,701,895 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $32,938,979 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $40,075,750 | PYOtherExpensesAmt |
| CY Other Expenses | $54,725,709 | CYOtherExpensesAmt |
| PY Total Expenses | $66,777,645 | PYTotalExpensesAmt |
| CY Total Expenses | $87,664,688 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $15,335,128 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $11,001,418 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,799,657,083 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,985,157,506 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,653,201,554 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,829,525,271 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $146,455,529 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $155,632,235 | NetAssetsOrFundBalancesEOYAmt |
| Mission | Credit Union operated for mutual purpose | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | Provided 25,204 consumer loans to members. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Provided 3,742 first and second mortgage loans to members | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Opened 10,091 new member share accounts. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $0 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Grant | $0 | TotalOtherProgSrvcGrantAmt |
| Total Other Prog Srvc Revenue | $0 | TotalOtherProgSrvcRevenueAmt |
| Total Program Service Expenses | $0 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | Yes (1) | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 38222 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 293 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 8 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Empeople Credit Union | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 3097431000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3950 38th Ave | AddressLine1Txt |
| City | Moline | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 61265 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (23 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|---|---|---|
| Elizabeth Hayes | ||||||||||
| former employee | 0 | 0 | Yes (X) | $1,273,905 | $0 | $0 | ||||
| Kurt Lewin | ||||||||||
| President | 40 | 0 | $740,370 | $0 | $0 | Yes (X) | Yes (X) | |||
| Benjamin Nickel | ||||||||||
| VP, Branch Operations | 40 | 0 | $400,708 | $0 | $0 | Yes (X) | ||||
| Ron Wilse | ||||||||||
| Chief Lending Officer | 40 | 0 | $347,955 | $0 | $0 | Yes (X) | Yes (X) | |||
| Peter Sedgwick | ||||||||||
| Chief Information Officer | 40 | 0 | $346,886 | $0 | $0 | Yes (X) | Yes (X) | |||
| Chris Kobliska | ||||||||||
| VP, Branch Operations | 40 | 0 | $326,573 | $0 | $0 | Yes (X) | ||||
| Joseph Witherwax | ||||||||||
| Chief Information Officer | 40 | 0 | $320,672 | $0 | $0 | Yes (X) | Yes (X) | |||
| Heidi Wulf | ||||||||||
| Chief Financial Officer | 40 | 0 | $315,982 | $0 | $0 | Yes (X) | Yes (X) | |||
| Ryan Cannady | ||||||||||
| Chief Retail Officer | 40 | 0 | $315,732 | $0 | $0 | Yes (X) | Yes (X) | |||
| Brad Johannes | ||||||||||
| Vice President, Wealth Management | 40 | 0 | $310,724 | $0 | $0 | Yes (X) | ||||
| Renee VanDeWoestyne | ||||||||||
| Chief Administrative Officer | 40 | 0 | $295,817 | $0 | $0 | Yes (X) | Yes (X) | |||
| Stacy DeLong | ||||||||||
| Chief Marketing & Brand Officer | 40 | 0 | $286,735 | $0 | $0 | Yes (X) | Yes (X) | |||
| Ashley Kowalski | ||||||||||
| Account Officer | 40 | 0 | $253,820 | $0 | $0 | Yes (X) | ||||
| Bob Leger | ||||||||||
| former employee | 0 | 0 | Yes (X) | $233,864 | $0 | $0 | ||||
| James Stotts | ||||||||||
| AVP Sales | 40 | 0 | $223,152 | $0 | $0 | Yes (X) | ||||
| Jena Holtberg-Benge | ||||||||||
| Chair | 1 | 0 | $0 | $0 | $0 | Yes (X) | ||||
| Susan Parker | ||||||||||
| Vice Chair | 1 | $0 | $0 | $0 | Yes (X) | |||||
| Scott Hany | ||||||||||
| Secretary of the Board | 1 | 0 | $0 | $0 | $0 | Yes (X) | ||||
| Heather Bishop | ||||||||||
| Board Member | 1 | 0 | $0 | $0 | $0 | Yes (X) | ||||
| Christopher James | ||||||||||
| Board Member | 1 | 0 | $0 | $0 | $0 | Yes (X) | ||||
| Denver Caldwell | ||||||||||
| Board Member | 1 | 0 | $0 | $0 | $0 | Yes (X) | ||||
| Samuel Novick | ||||||||||
| Board Member | 1 | 0 | $0 | $0 | $0 | Yes (X) | ||||
| Jeff Richards | ||||||||||
| Board Member | 1 | 0 | $0 | $0 | $0 | Yes (X) | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $5,992,895 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 81 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (1) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt | Address Line2ContractorAddress/USAddress/AddressLine2Txt |
|---|---|---|---|---|---|---|
| Print Plant LLC | ||||||
| 3350 Center Grove Dr | Dubuque | IA | 52003 | Marketing | $486,713 | |
| Sentinel Technologies Inc | ||||||
| PO Box 85080 | Chicago | IL | 606800851 | IT Managed Service | $291,038 | |
| Risdall Marketing Group LLC | ||||||
| 3001 Broadway Street NE | Menneapolis | MN | 55413 | Marketing | $276,689 | Suite 185 |
| Garda CL Great Lakes Inc | ||||||
| 3209 Momentum Place | Chicago | IL | 606890001 | ATM Servicing | $263,666 | |
| Great Falls Construction | ||||||
| 20 Mechanic Street | Gorham | ME | 040381560 | Construction | $239,899 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 11 | CntrctRcvdGreaterThan100KCnt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Interest on Membership Loans | Desc |
| Business | 522130 | BusinessCd |
| Total Revenue Column | $59,247,663 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $59,247,663 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $59,247,663 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,999,575 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $2,999,575 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $0 | OtherAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt | ExclusionExclusionAmt |
|---|---|---|---|---|---|
| Miscellaneous Income | 522130 | $15,406,648 | $15,406,648 | $0 | $0 |
| Fee Income | 522130 | $10,731,400 | $10,731,400 | $0 | $0 |
| Interchange Income | 522130 | $10,280,820 | $10,280,820 | $0 | $0 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $36,418,868 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $98,666,106 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $98,666,106 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,485,126 | TotalAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $22,775,699 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,474,054 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,388,693 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,815,407 | TotalAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $241,873 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $389,224 | TotalAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,626,720 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,547,359 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,208,854 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,149,106 | TotalAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,646,383 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $793,575 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,194,518 | TotalAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,112,695 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $245,501 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| Dividends paid to others | $14,288,230 |
| Loan Processing Expense | $8,223,253 |
| Provision for Loan Loss | $7,553,147 |
| ATM, Draft, and Debit Card Expense | $5,727,274 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $777,997 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $87,664,688 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,478,085 | BOYAmt |
| EOY | $27,451,406 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $309,092,948 | BOYAmt |
| EOY | $99,739,894 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,628,207 | BOYAmt |
| EOY | $6,031,642 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,365,683,279 | BOYAmt |
| EOY | $1,750,906,405 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,187,628 | BOYAmt |
| EOY | $7,482,606 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $30,227,105 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $11,565,026 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,033,908 | BOYAmt |
| EOY | $18,662,079 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,164,369 | BOYAmt |
| EOY | $12,979,433 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,630,953 | BOYAmt |
| EOY | $13,816,385 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $239,391 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $40,757,706 | BOYAmt |
| EOY | $47,848,265 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,799,657,083 | BOYAmt |
| EOY | $1,985,157,506 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,462,338 | BOYAmt |
| EOY | $115,438,706 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,645,467 | BOYAmt |
| EOY | $8,153,668 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,625,093,749 | BOYAmt |
| EOY | $1,705,932,897 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,653,201,554 | BOYAmt |
| EOY | $1,829,525,271 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $146,455,529 | BOYAmt |
| EOY | $155,632,235 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $146,455,529 | BOYAmt |
| EOY | $155,632,235 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,799,657,083 | BOYAmt |
| EOY | $1,985,157,506 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $11,001,418 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$1,850,884 | NetUnrlzdGainsLossesInvstAmt |
| Donated Services And Use Fclts | $0 | DonatedServicesAndUseFcltsAmt |
| Investment Expense | $0 | InvestmentExpenseAmt |
| Prior Period Adjustments | $26,172 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | 0 | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $988,860 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $0 | OtherCostOrOtherBasisAmt |
| Book Value | $988,860 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $18,528,064 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $0 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,869,960 | DepreciationAmt |
| Book Value | $14,658,104 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $0 | OtherCostOrOtherBasisAmt |
| Depreciation | $0 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $10,710,181 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $0 | OtherCostOrOtherBasisAmt |
| Depreciation | $7,695,066 | DepreciationAmt |
| Book Value | $3,015,115 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $0 | OtherCostOrOtherBasisAmt |
| Depreciation | $0 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $18,662,079 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Member Shares | Desc |
| Amt | $1,705,932,897 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,705,932,897 | TotalLiabilityAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule D, Part IV, Line 2b | FormAndLineReferenceDesc |
| Explanation | We collect members taxes and insurance portion on their monthly mortgage payment and make distributions as taxes and insurance are due. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Severance Payment | Yes (1) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | Yes (1) | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (15 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Kurt Lewin | ||||||||||||||
| President | $540,296 | $0 | $200,074 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $740,370 | $0 | $0 | $0 |
| Ron Wilse | ||||||||||||||
| Chief Lending Officer | $278,426 | $0 | $69,530 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $347,956 | $0 | $0 | $0 |
| Peter Sedgwick | ||||||||||||||
| Chief Information Officer | $280,089 | $0 | $66,798 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $346,887 | $0 | $0 | $0 |
| Joseph Witherwax | ||||||||||||||
| Chief Information Officer | $264,934 | $0 | $55,738 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $320,672 | $0 | $0 | $0 |
| Heidi Wulf | ||||||||||||||
| Chief Financial Officer | $261,864 | $0 | $54,118 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $315,982 | $0 | $0 | $0 |
| Ryan Cannady | ||||||||||||||
| Chief Retail Officer | $248,458 | $0 | $67,274 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $315,732 | $0 | $0 | $0 |
| Renee VanDeWoestyne | ||||||||||||||
| Chief Administrative Officer | $241,498 | $0 | $54,319 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $295,817 | $0 | $0 | $0 |
| Stacy DeLong | ||||||||||||||
| Chief Marketing & Brand Officer | $231,152 | $0 | $55,582 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $286,734 | $0 | $0 | $0 |
| Benjamin Nickel | ||||||||||||||
| VP, Branch Operations | $374,596 | $0 | $26,112 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $400,708 | $0 | $0 | $0 |
| Chris Kobliska | ||||||||||||||
| VP, Branch Operations | $301,625 | $0 | $24,948 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $326,573 | $0 | $0 | $0 |
| Brad Johannes | ||||||||||||||
| Vice President, Wealth Management | $188,766 | $0 | $121,959 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $310,725 | $0 | $0 | $0 |
| Ashley Kowalski | ||||||||||||||
| Account Officer | $249,847 | $0 | $3,973 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $253,820 | $0 | $0 | $0 |
| James Stotts | ||||||||||||||
| AVP Sales | $204,670 | $0 | $18,481 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $223,151 | $0 | $0 | $0 |
| Elizabeth Hayes | ||||||||||||||
| former employee | $0 | $0 | $60,231 | $0 | $1,213,673 | $0 | $0 | $0 | $0 | $0 | $1,273,904 | $0 | $0 | |
| Bob Leger | ||||||||||||||
| former employee | $0 | $0 | $41,165 | $0 | $192,698 | $0 | $0 | $0 | $0 | $0 | $233,863 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule J, Part I, Line 4 | FormAndLineReferenceDesc |
| Explanation | Schedule J, Part I, Line 4 - Select executives agreed to participate in CAP-EX in place of traditional SERP. See Schedule L, Part V, for a broader description. 4c. The organization provides a supplemental non-qualified retirement plan for its CEO. The supplemental retirement benefit is based on the CEO's compensation and years of service to the enterprise. The benefit is subject to the risk of forfeiture if required years of service are not met. Annual deferred compensation related to this plan is reported in Schedule J, Par II, Column C for the participant and reflects the current year increase and decrease in the organizations obligation, calculated pursuant to generally accepted accounting principals. The obligation increase or decrease includes changes in actuarial assumptions (eg, applicable discount rate), as well as changes in compensation and years of service. | ExplanationTxt |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (11 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| Kurt Lewin | |||||||
| current officer | see part V | Yes (X) | $5,776,337 | $5,819,206 | 0 | Yes (1) | Yes (1) |
| Renee VanDeWoestyne | |||||||
| key employee | see part V | Yes (X) | $2,277,184 | $2,266,999 | 0 | Yes (1) | Yes (1) |
| Ryan Cannady | |||||||
| key employee | see part V | Yes (X) | $1,607,624 | $1,569,315 | 0 | Yes (1) | Yes (1) |
| Peter Sedgwick | |||||||
| key employee | see part V | Yes (X) | $1,663,808 | $1,672,702 | 0 | Yes (1) | Yes (1) |
| Joseph Witherwax | |||||||
| key employee | see part V | Yes (X) | $2,287,960 | $2,281,126 | 0 | Yes (1) | Yes (1) |
| Heidi Wulf | |||||||
| key employee | see part V | Yes (X) | $1,786,630 | $1,786,630 | 0 | Yes (1) | Yes (1) |
| Stacy DeLong | |||||||
| key employee | see part V | Yes (X) | $1,934,705 | $1,934,705 | 0 | Yes (1) | Yes (1) |
| Michael O'Brien | |||||||
| former employee | to fund CASD SERPs | Yes (X) | $1,971,641 | $2,262,995 | 0 | Yes (1) | Yes (1) |
| Sandra Cloutier | |||||||
| employee | to fund CASD SERPs | Yes (X) | $1,400,940 | $1,612,766 | 0 | Yes (1) | Yes (1) |
| Elizabeth Hayes | |||||||
| former employee | to fund CASD SERPs | Yes (X) | $4,173,530 | $4,823,089 | 0 | Yes (1) | Yes (1) |
| Kenneth Williams | |||||||
| former employee | to fund CASD SERPs | Yes (X) | $3,000,000 | $2,800,000 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $28,829,533 | TotalBalanceDueAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule L, Part II | FormAndLineReferenceDesc |
| Explanation | The Credit Union provides supplemental retirement benefits through an alternative funding arrangement the IRS calls "collateral assignment split dollar"(CASD). Although the IRS requires reporting in the loan section of schedule L, CASD is not loan because no funds are transferred to the executive. Rather, the "loan" treatment applies because after the executive has received retirement benefits, the Credit Union recovers all of its outlays plus interest. The recovery right is a key advantage of CASD for the Credit Union. Rather than paying retirement benefits to the executive that would never be recovered, under CASD the Credit Union recovers not only its outlays, but also the consideration for the time value of money. CASD works as follows. The Credit Union deposits funds into a cash value life insurance policy on the executive's life. During life, to the extent the executive fulfills service and vesting requirements, the executive can borrow against the values in the policy to supplement retirement income. Policy performance is closely monitored. If policy performance lags, the executive's borrowing rights are reduced to protect the Credit Unions recovery rights. At the executive's death, the policy death processed are first used to repay the Credit Union its deposits plus compound interest(at the IRS long-term applicable federal rate). The executive's beneficiary then receives any projected retirement borrowing that the executive did not access during life. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Section A, Line 6 | Members |
| Form 990, Part VI, Section A, Line 7a | Members |
| Form 990, Part VI, Section A, Line 7b | Members |
| Form 990, Part VI, Section B, Line 11b | The 990 is prepared by the AVP of Accounting and reviewed by the Chief Financial Officer. |
| Form 990, Part VI, Section B, Line 12c | An annual training session is conducted for all employees and directors of the credit union. Conflict of Interest Statements are required to be signed each year. |
| Form 990, Part VI, Section B, Line 15 | The Credit Union uses an outside consulting firm to determine compensation. |
| Form 990, Part VI, Section C, Line 19 | Governing policies are located at the Credit Union office. Normal business hours are 9:00 a.m. - 4:30 p.m. Monday- Friday. |
Comments