2023-05-12T13:16:54-07:00 2022-12-31 990 2022-01-01 362472059 EMPEOPLE CREDIT UNION EMPE 3097431000 PO Box 339 Moline IL 61266 Heidi Wulf Chief Financial Officer 3097431032 2023-05-12 1 1 11 1 AAL2 2022 2023-04-26 12:10:37Z X Heidi Wulf 3950 38th Ave Moline IL 61265 98666106 0 X www.empeople.com X Cooperative 1935 IL Credit Union operated for mutual purpose 9 8 293 0 0 0 0 0 44660122 59247663 1236390 2999575 36216261 36418868 82112773 98666106 0 0 0 0 26701895 32938979 0 0 0 40075750 54725709 66777645 87664688 15335128 11001418 1799657083 1985157506 1653201554 1829525271 146455529 155632235 Credit Union operated for mutual purpose 0 0 Provided 25,204 consumer loans to members. Provided 3,742 first and second mortgage loans to members Opened 10,091 new member share accounts. 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 38222 0 1 293 1 0 0 0 0 0 0 0 0 X 9 8 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X Empeople Credit Union 3097431000 3950 38th Ave Moline IL 61265 Elizabeth Hayes former employee 0 0 X 1273905 0 0 Kurt Lewin President 40 0 X X 740370 0 0 Benjamin Nickel VP, Branch Operations 40 0 X 400708 0 0 Ron Wilse Chief Lending Officer 40 0 X X 347955 0 0 Peter Sedgwick Chief Information Officer 40 0 X X 346886 0 0 Chris Kobliska VP, Branch Operations 40 0 X 326573 0 0 Joseph Witherwax Chief Information Officer 40 0 X X 320672 0 0 Heidi Wulf Chief Financial Officer 40 0 X X 315982 0 0 Ryan Cannady Chief Retail Officer 40 0 X X 315732 0 0 Brad Johannes Vice President, Wealth Management 40 0 X 310724 0 0 Renee VanDeWoestyne Chief Administrative Officer 40 0 X X 295817 0 0 Stacy DeLong Chief Marketing & Brand Officer 40 0 X X 286735 0 0 Ashley Kowalski Account Officer 40 0 X 253820 0 0 Bob Leger former employee 0 0 X 233864 0 0 James Stotts AVP Sales 40 0 X 223152 0 0 Jena Holtberg-Benge Chair 1 0 X 0 0 0 Susan Parker Vice Chair 1 X 0 0 0 Scott Hany Secretary of the Board 1 0 X 0 0 0 Heather Bishop Board Member 1 0 X 0 0 0 Christopher James Board Member 1 0 X 0 0 0 Denver Caldwell Board Member 1 0 X 0 0 0 Samuel Novick Board Member 1 0 X 0 0 0 Jeff Richards Board Member 1 0 X 0 0 0 5992895 0 0 81 1 1 0 Print Plant LLC 3350 Center Grove Dr Dubuque IA 52003 Marketing 486713 Sentinel Technologies Inc PO Box 85080 Chicago IL 606800851 IT Managed Service 291038 Risdall Marketing Group LLC 3001 Broadway Street NE Suite 185 Menneapolis MN 55413 Marketing 276689 Garda CL Great Lakes Inc 3209 Momentum Place Chicago IL 606890001 ATM Servicing 263666 Great Falls Construction 20 Mechanic Street Gorham ME 040381560 Construction 239899 11 0 Interest on Membership Loans 522130 59247663 59247663 0 0 0 0 0 0 59247663 2999575 2999575 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Miscellaneous Income 522130 15406648 15406648 0 0 Fee Income 522130 10731400 10731400 0 0 Interchange Income 522130 10280820 10280820 0 0 0 0 0 0 36418868 98666106 98666106 0 0 0 0 0 0 4485126 0 22775699 1474054 2388693 1815407 0 241873 389224 0 0 0 1626720 1547359 2208854 5149106 0 1646383 0 0 793575 2194518 0 2112695 245501 Dividends paid to others 14288230 Loan Processing Expense 8223253 Provision for Loan Loss 7553147 ATM, Draft, and Debit Card Expense 5727274 777997 87664688 0 0 0 21478085 27451406 309092948 99739894 0 0 7628207 6031642 0 0 0 0 1365683279 1750906405 0 0 5187628 7482606 30227105 11565026 22033908 18662079 16164369 12979433 11630953 13816385 0 0 239391 40757706 47848265 1799657083 1985157506 20462338 115438706 0 0 0 0 0 0 7645467 8153668 0 0 0 0 0 0 1625093749 1705932897 1653201554 1829525271 X 0 0 0 0 146455529 155632235 146455529 155632235 1799657083 1985157506 11001418 -1850884 0 0 26172 0 X 0 1 X 0 0 0 1 X 988860 0 988860 18528064 0 3869960 14658104 0 0 0 0 10710181 0 7695066 3015115 0 0 0 0 18662079 Member Shares 1705932897 1705932897 Schedule D, Part IV, Line 2b We collect members taxes and insurance portion on their monthly mortgage payment and make distributions as taxes and insurance are due. X 1 1 1 Kurt Lewin President 540296 0 200074 0 0 0 0 0 0 0 740370 0 0 0 Ron Wilse Chief Lending Officer 278426 0 69530 0 0 0 0 0 0 0 347956 0 0 0 Peter Sedgwick Chief Information Officer 280089 0 66798 0 0 0 0 0 0 0 346887 0 0 0 Joseph Witherwax Chief Information Officer 264934 0 55738 0 0 0 0 0 0 0 320672 0 0 0 Heidi Wulf Chief Financial Officer 261864 0 54118 0 0 0 0 0 0 0 315982 0 0 0 Ryan Cannady Chief Retail Officer 248458 0 67274 0 0 0 0 0 0 0 315732 0 0 0 Renee VanDeWoestyne Chief Administrative Officer 241498 0 54319 0 0 0 0 0 0 0 295817 0 0 0 Stacy DeLong Chief Marketing & Brand Officer 231152 0 55582 0 0 0 0 0 0 0 286734 0 0 0 Benjamin Nickel VP, Branch Operations 374596 0 26112 0 0 0 0 0 0 0 400708 0 0 0 Chris Kobliska VP, Branch Operations 301625 0 24948 0 0 0 0 0 0 0 326573 0 0 0 Brad Johannes Vice President, Wealth Management 188766 0 121959 0 0 0 0 0 0 0 310725 0 0 0 Ashley Kowalski Account Officer 249847 0 3973 0 0 0 0 0 0 0 253820 0 0 0 James Stotts AVP Sales 204670 0 18481 0 0 0 0 0 0 0 223151 0 0 0 Elizabeth Hayes former employee 0 0 60231 0 1213673 0 0 0 0 0 1273904 0 0 Bob Leger former employee 0 0 41165 0 192698 0 0 0 0 0 233863 0 0 0 Schedule J, Part I, Line 4 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. Kurt Lewin current officer see part V X 5776337 5819206 0 1 1 Renee VanDeWoestyne key employee see part V X 2277184 2266999 0 1 1 Ryan Cannady key employee see part V X 1607624 1569315 0 1 1 Peter Sedgwick key employee see part V X 1663808 1672702 0 1 1 Joseph Witherwax key employee see part V X 2287960 2281126 0 1 1 Heidi Wulf key employee see part V X 1786630 1786630 0 1 1 Stacy DeLong key employee see part V X 1934705 1934705 0 1 1 Michael O'Brien former employee to fund CASD SERPs X 1971641 2262995 0 1 1 Sandra Cloutier employee to fund CASD SERPs X 1400940 1612766 0 1 1 Elizabeth Hayes former employee to fund CASD SERPs X 4173530 4823089 0 1 1 Kenneth Williams former employee to fund CASD SERPs X 3000000 2800000 0 1 1 28829533 Schedule L, Part II 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. 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.