2022-10-17T10:57:49-05:00 2021-12-31 420714325 RSM US LLP 4650 EAST 53RD STREET DAVENPORT IA 528073479 990 2021-01-01 237024415 MISSOURI CREDIT UNION MISS 5738741477 111 E BROADWAY COLUMBIA MO 65203 ROBERT P PERKINS CFO 5738741477 2022-10-11 1 ROBERT PERKINS XXX-XX-XXXX JENIFER L CHASE P01306883 5638884000 2022-10-11 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z HAROLD JAMES 111 E BROADWAY COLUMBIA MO 65203 19862904 0 X WWW.MISSOURICU.ORG X 1969 MO MISSOURI CREDIT UNION (MCU) IS OPERATED FOR MUTUAL PURPOSES. 10 10 132 14 160263 0 0 0 19017322 17947112 794522 1764874 182798 150918 19994642 19862904 63528 129678 2168516 1928102 6776915 6773929 0 0 0 8167959 8539156 17176918 17370865 2817724 2492039 449504582 526230931 407523185 482424120 41981397 43806811 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;-ENCOURAGES 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. 0 0 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 36,193 MEMBERS, THE CREDIT UNION HAD 68,849 LOANS OUTSTANDING AT 12/31/21, INCLUDING MORTGAGES SOLD WITH SERVICING RETAINED. 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 12/31/21 THERE WERE 65,993 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 0 0 0 0 0 0 1 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 13251 0 1 132 1 1 1 0 0 0 0 0 0 0 X 10 10 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 X ROBERT PERKINS 5738741477 111 E BROADWAY COLUMBIA MO 65203 KEE GROSHONG CHAIR 0.50 X X 0 0 0 MARK KAISER VICE CHAIR 0.50 X X 0 0 0 RICHARD OTTO SECRETARY 0.50 X X 0 0 0 HOWARD PYRON TREASURER 0.50 X X 0 0 0 BETHANY ABELN DIRECTOR 0.50 X 0 0 0 ANDY BONDERER DIRECTOR 0.50 X 0 0 0 DON GREER DIRECTOR 0.50 X 0 0 0 RANDY MORROW DIRECTOR 0.50 X 0 0 0 STEPHEN PRICE DIRECTOR 0.50 X 0 0 0 ANNE ROBINSON DIRECTOR 0.50 X 0 0 0 HAROLD JAMES PRESIDENT 40.00 X 398142 0 28600 ROBERT PERKINS CFO 40.00 X 185448 0 17340 CHENGFAN XU SR VICE PRESIDENT 40.00 X 172838 0 22900 DEANN BARTON SR VICE PRESIDENT 40.00 X 153778 0 15625 ANTHONY ROSS SMITH SR VICE PRESIDENT 40.00 X 130720 0 13700 KRISTY BRYANT VICE PRESIDENT 40.00 X 115644 0 11036 1156570 0 109201 6 0 1 0 BUCKET MEDIA 1123 WILKES BLVD STE 330 COLUMBIA MO 65201 MEDIA PLANNING & BUYING 387382 JACK HENRY & ASSOCIATES PO BOX 609 MONETT MO 65708 SOFTWARE SUPPORT & MAINTENANCE 384477 TROZZOLO COMMUNICATIONS GROUP PO BOX 410002 KANSAS CITY MO 64141 ADVERTISING 266244 STRATEGY CORPS PO BOX 1167 BRENTWOOD TN 37024 BAZING CHECKING REWARDS 209541 ACCESS SOFTEK INC 727 ALLSTON WAY STE C BERKELEY CA 94710 MOBILE AND HOME BANKING 173584 10 INTEREST ON MEMBER LOANS 522100 10085658 10085658 FEES AND CHARGES 522100 5244481 5243518 963 MISCELLANEOUS OPERATING REVENUE 522100 2304969 2207960 97009 NON-INTEREST REVENUE 522100 312004 249713 62291 17947112 692141 692141 150918 0 150918 150918 150918 1072733 0 1072733 1072733 1072733 19862904 17786849 160263 1915792 89678 40000 1928102 1002418 4530434 233608 623021 384448 12195 113810 252162 853509 1010927 580305 1206054 80611 1740 8426 1036719 150783 LOAN SERVICING 2955788 PROVISION FOR LOAN LOSS 120484 MO FRANCHISE TAXES 105497 ATM 16129 34017 17370865 5353191 4798870 2733711 749928 6826309 7621186 244039345 247720958 537190 850031 25796944 14504284 9369646 11292660 172302444 243705825 8342746 9491473 449504582 526230931 6487066 5497806 650258 602589 1905843 1820580 207736 182967 398272282 474320178 407523185 482424120 X 0 0 0 0 41981397 43806811 41981397 43806811 449504582 526230931 2492039 -666625 0 X X 0 0 0 0 1 X 4423330 4423330 9276718 3980803 5295915 3633851 3551635 82216 8463045 6971846 1491199 11292660 DEPOSITS IN CORPORATE CREDIT UNION 352962 C DEPOSITS IN FRB 201010233 C DEPOSITS IN COMMERCIAL BANKS 146396 C DEPOSITS IN FHLB 3420279 C FEDERAL AGENCY SECURITIES 38775955 F 243705825 MEMBERS' SHARES AND DEPOSITS 474320178 474320178 PART IV, LINE 2B: 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. 1 CHILDREN'S MIRACLE NETWORK MU CHILDRENS HOSPITAL ONE HOSPITAL DRIVE DC06600 COLUMBIA MO 65212 870387205 501(C)(3) 16000 0 RADIOTHON SPONSORSHIP TO SUPPORT PROGRAM MISSION CITY OF COLUMBIA 701 E BROADWAY COLUMBIA MO 65205 CITY OF COLUMBIA 25000 0 CAPITAL CONTRIBUTION FOR AN AGRICULTURAL PARK CAPITAL CITY SALUTE TO AMERICA FOUNDATION INC 700 EAST CAPITOL AVE JEFFERSON CITY MO 65101 760774038 501(C)(3) 18000 0 JULY 4TH CELEBRATION 3 0 SCHOLARSHIPS 16 40000 PART I, LINE 2: PART II, GRANTS TO ORGANIZATIONS/GOVERNMENTS - GRANT FUNDS ARE PROVIDED TO PUBLIC CHARITIES AND GOVERNMENTS TO USE AT THEIR DISCRETION. PART III, GRANTS TO INDIVIDUALS - 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 NOT RESTRICTED. X X X X 0 1 0 HAROLD JAMES PRESIDENT 368142 0 30000 0 0 0 15946 0 13134 0 427222 0 0 0 ROBERT PERKINS CFO 169448 0 16000 0 0 0 10664 0 11734 0 207846 0 0 0 CHENGFAN XU SR VICE PRESIDENT 158338 0 14500 0 0 0 10350 0 13030 0 196218 0 0 0 DEANN BARTON SR VICE PRESIDENT 140278 0 13500 0 0 0 9065 0 8289 0 171132 0 0 0 PART I, LINE 4B THE FOLLOWING PARTICIPATED IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN IN 2021 SPONSORED BY MISSOURI CREDIT UNION: HAROLD JAMES, ROBERT PERKINS, CHENGFAN XU, AND ANTHONY ROSS SMITH. IN 2021, THE ORGANIZATION DID NOT MAKE CONTRIBUTIONS TO THE PLAN ON BEHALF OF THE INDIVIDUAL PARTICIPANTS, NOR WHERE ANY DISTRIBUTIONS MADE FROM THE PLAN. HAROLD JAMES PRESIDENT/CEO SPLIT DOLLAR LIFE INSURANCE POLICY X 4102876 7621186 0 1 1 7621186 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 VI, SECTION A, LINE 6 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, SECTION A, LINE 7A 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, SECTION A, LINE 7B 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, SECTION B, LINE 11B FORM 990 WILL BE REVIEWED BY EXECUTIVE MANAGEMENT AND THE BOARD OF DIRECTORS PRIOR TO AUTHORIZING ITS SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL VOLUNTEERS AND ELECTED OFFICIALS 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, SECTION B, LINE 15A 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, SECTION C, LINE 19 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 2C THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR TAX YEAR. FORM 990, PART IV, LINE 12A & PART XII, LINE 2B 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.