2022-11-03T10:33:06-05:00 2021-12-31 420714325 RSM US LLP 4650 EAST 53RD STREET DAVENPORT IA 528073479 990 2021-01-01 420190489 COLLINS COMMUNITY CREDIT UNION COLL 3193939000 PO BOX 10500 CEDAR RAPIDS IA 52410 BENJAMIN WICKUM CHIEF FINANCIAL OFFICER 3193939000 2022-11-02 1 BENJAMIN WICKUM 999009999 JENIFER L CHASE P01306883 5638884000 2022-11-02 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z STEFANIE RUPERT PO BOX 10500 CEDAR RAPIDS IA 52410 83281745 0 X WWW.COLLINSCU.ORG X 1940 IA OUR MISSION IS TO DEVOTE OURSELVES TO FINANCIAL SUCCESS FOR ALL. 8 8 436 10 80472 0 0 0 74165034 77995859 4346330 4804003 92589 80472 78603953 82880334 124097 113778 0 0 29088268 33049919 0 0 0 44392775 40654241 73605140 73817938 4998813 9062396 1327686585 1441883337 1221434509 1328980654 106252076 112902683 OUR MISSION IS TO DEVOTE OURSELVES TO FINANCIAL SUCCESS FOR ALL. 0 0 COLLINS COMMUNITY CREDIT UNION PROVIDES A FULL RANGE OF FINANCIAL PRODUCTS AND SERVICES TO ANYONE WHO LIVES OR WORKS IN BLACK HAWK, DUBUQUE, LINN, JOHNSON, POLK AND THE SURROUNDING COUNTIES. SERVICES INCLUDE, BUT ARE NOT LIMITED TO, FINANCIAL DEPOSITS AND LOAN AND SERVICE ACCOUNTS. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 1 1 1 1 0 1 52004 0 1 436 1 1 1 0 0 0 0 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X FINANCE DEPARTMENT - COLLINS CCU 3193939000 PO BOX 10500 CEDAR RAPIDS IA 52410 ECHO BATSON BOARD MEMBER 1.00 X 0 0 0 JON BUSE VICE CHAIRPERSON 1.00 X X 0 0 0 KARL CASSELL BOARD MEMBER 1.00 X 0 0 0 HEATHER FRIEDMAN SECRETARY 1.00 X X 0 0 0 WILLIAM KOOISTRA FORMER BOARD MEMBER 1.00 X 0 0 0 SUE NELSON BOARD MEMBER 1.00 X 0 0 0 ALEJANDRO PINO BOARD MEMBER 1.00 X 0 0 0 JEREMY PRICE BOARD MEMBER 1.00 X 0 0 0 JENNIFER RUPPERT FORMER BOARD MEMBER 1.00 X 0 0 0 MARSHA SCHULTE CHAIRPERSON 1.00 X X 0 0 0 STEFANIE RUPERT PRESIDENT/CHIEF EXECUTIVE OFFICER 40.00 X 498927 0 68221 BENJAMIN WICKUM CHIEF FINANCIAL OFFICER 40.00 X 281253 0 44957 JACK EMKES SENIOR VICE PRESIDENT 40.00 X 280347 0 45624 WILLIAM PARKINSON PRESIDENT PREFUNDING CUSO 40.00 X 267626 0 24634 CRAIG PAGE PRESIDENT CANADARM CUSO 40.00 X 259760 0 29745 JOHN LEWIS VICE PRESIDENT IT/FACILITIES 40.00 X 217568 0 39806 RANDY JOHNSON SENIOR VICE PRESIDENT 40.00 X 239753 0 97049 JASON KAIMAN MORTGAGE LOAN OFFICER 40.00 X 412305 0 51831 ZACHARY STINEMAN MORTGAGE LOAN OFFICER 40.00 X 397915 0 45930 THOMAS AXVIG MORTGAGE LOAN OFFICER 40.00 X 389580 0 44760 TIMOTHY LAMB REAL ESTATE LOAN OFFICER 40.00 X 352063 0 38251 JASON BEARD MORTGAGE LOAN OFFICER 40.00 X 267688 0 41099 3864785 0 571907 44 0 1 0 FISERV 75 REMITTANCE DR SUITE 1649 CHICAGO IL 606751649 EXTERNAL DATA PROCESSING 5436779 TURNKEY ASSOCIATES LC 3015 GREYHOUND DRIVE WATERLOO IA 50701 CONSTRUCTION 2536629 FREW DEVELOPMENT GROUP LLC 2811 WILEY BLVD SW SUITE K CEDAR RAPIDS IA 52404 CONSTRUCTION 1951688 SHAZAM 6700 PIONEER PARKWAY JOHNSTON IA 50131 EXTERNAL DATA PROCESSING 754851 PLAID SWAN INC PO BOX 1623 DUBUQUE IA 52002 ADVERTISING 753854 37 INCOME ON LOANS 522100 41946779 41946779 FEES/CHARGES/OTHER INCOME 522100 36049080 36049080 77995859 3543291 3543291 1662123 401411 1260712 1260712 1260712 NON MEMBER ATM INCOME 900099 80472 80472 80472 82880334 77995859 80472 4804003 113778 2395270 24134730 2377379 2380694 1761846 328726 378237 4580779 1064337 3106610 3616072 3124802 52694 21029 8714073 2771904 414384 LOAN SERVICES 6825414 DEBIT AND CREDIT EXPENS 1808081 PROVISION FOR LOAN LOSS 1231875 ATM EXPENSE 673932 1941292 73817938 18499106 15917146 183381677 85015273 88736 148841 10791257 20055122 857766971 1032981850 5925422 6870743 74733132 23092494 48261497 51640638 159046909 143283867 11039312 31327917 32885698 54641940 1327686585 1441883337 20855093 19436627 6661189 10599822 29584915 45781051 1164333312 1253163154 1221434509 1328980654 X 0 0 0 0 106252076 112902683 106252076 112902683 1327686585 1441883337 X 9062396 -3325658 913869 X X 0 1 X 1 0 0 1 X 10320677 10320677 31173094 8499764 22673330 18029027 3361378 14667649 13403573 10001110 3402463 1806761 1230242 576519 51640638 SHARE ACCOUNTS 225803819 MONEY MARKET ACCOUNTS 407497944 IRA 9760067 SHARE DRAFT ACCOUNTS 345941562 CD AND IRA CD 262961341 DUE FROM COLLINS 1198421 1253163154 X PART IV, LINE 2B: COLLINS COMMUNITY CREDIT UNION COLLECTS AMOUNTS FROM MEMBERS WITH REAL ESTATE LOANS EACH MONTH VIA THEIR CONTRACTUAL PAYMENT SCHEDULE. THESE FUNDS ARE HELD IN ESCROW UNTIL THEY NEED TO BE DISBURSED IN ACCORDANCE WITH THE ESCROW INSTRUCTIONS FOR EACH MEMBER. AMOUNTS HELD IN ESCROW ARE FOR PROPERTY TAXES AND HOMEOWNER'S INSURANCE. PART X, LINE 2: COLLINS COMMUNITY CREDIT UNION IS EXEMPT, BY STATUTE (INTERNAL REVENUE CODE SECTION 501(C)14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION SERVICE ORGANIZATIONS (CUSO) ARE ORGANIZED AS LIMITED LIABILITY COMPANIES (LLCS). THE HOLDING COMPANY HAS BEEN ORGANIZED AS A SINGLE-OWNER LLC AND IS CONSIDERED A DISREGARDED ENTITY FOR TAX PURPOSES. THE CREDIT UNION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC 740, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN, SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE CREDIT UNION MAY RECOGNIZE THE TAX BENEFITS FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES, BASED ON TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE BEING MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. THIS STANDARD DID NOT HAVE AN IMPACT ON THE FINANCIAL STATEMENTS AND THE CREDIT UNION BELIEVES IT DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS. 0 COMMUNITY CRISIS SERVICES AND FOOD BANK 1121 GILBERT CT IOWA CITY IA 52240 420955992 501(C)(3) 12000 0 GIVING TUESDAY JDRF INTERNATIONAL 200 VESEY STREET 28TH FLOOR NEW YORK NY 10281 231907729 501(C)(3) 7500 0 JDRF SPONSORSHIP JUNIOR ACHIEVEMENT OF EASTERN IOWA FOUNDATION 324 3RD STREET SE CEDAR RAPIDS IA 52401 431990830 501(C)(3) 15000 0 GENERAL SUPPORT MARION ECONOMIC DEVELOPMENT COMPANY 1225 6TH AVENUE STE 100 MARION IA 52302 421318828 501(C)(6) 7050 0 GENERAL SUPPORT UNITED WAY OF EAST CENTRAL IOWA 317 7TH AVENUE SE NO 401 CEDAR RAPIDS IA 52401 420861239 501(C)(3) 7500 0 GENERAL SUPPORT WOMEN LEAD CHANGE 501 FIRST STREET SE NO 200 CEDAR RAPIDS IA 52401 452932668 501(C)(3) 7500 0 WOMEN LEAD CHANGE 2021 CENTRAL IOWA CONFERENCE WORLDWIDE FOUNDATION FOR CREDIT UNIONS INC PO BOX 2982 MADISON WI 53701 396093210 501(C)(3) 9167 0 GENERAL SUPPORT 6 1 PART I, LINE 2: COLLINS COMMUNITY CREDIT UNION ISSUES ALL GRANT FUNDS DIRECTLY TO THE RECIPIENT ORGANIZATION FOR USE AT THEIR DISCRETION. X X 1 1 X X X 0 0 0 STEFANIE RUPERT PRESIDENT/CHIEF EXECUTIVE OFFICER 397353 0 56715 0 44859 0 44611 0 23611 0 567149 0 0 0 JASON KAIMAN MORTGAGE LOAN OFFICER 43861 0 366938 0 1506 0 26100 0 25731 0 464136 0 0 0 ZACHARY STINEMAN MORTGAGE LOAN OFFICER 38350 0 358237 0 1328 0 20444 0 25486 0 443845 0 0 0 THOMAS AXVIG MORTGAGE LOAN OFFICER 52295 0 335172 0 2113 0 24886 0 19874 0 434340 0 0 0 TIMOTHY LAMB REAL ESTATE LOAN OFFICER 58088 0 292413 0 1562 0 25824 0 12427 0 390314 0 0 0 RANDY JOHNSON SENIOR VICE PRESIDENT 169368 0 44063 0 26322 0 77751 0 19298 0 336802 0 0 0 BENJAMIN WICKUM CHIEF FINANCIAL OFFICER 245528 0 30113 0 5612 0 24977 0 19981 0 326211 0 0 0 JACK EMKES SENIOR VICE PRESIDENT 177573 0 98780 0 3994 0 24988 0 20636 0 325971 0 0 0 JASON BEARD MORTGAGE LOAN OFFICER 41625 0 224540 0 1523 0 21936 0 19162 0 308786 0 0 0 WILLIAM PARKINSON PRESIDENT PREFUNDING CUSO 221593 0 33741 0 12292 0 7443 0 17190 0 292259 0 0 0 CRAIG PAGE PRESIDENT CANADARM CUSO 217760 0 34500 0 7500 0 12166 0 17579 0 289505 0 0 0 JOHN LEWIS VICE PRESIDENT IT/FACILITIES 192125 0 20790 0 4653 0 20422 0 19384 0 257374 0 0 0 PART I, LINE 1A IN TAX YEAR 2021, COLLINS COMMUNITY CREDIT UNION PROVIDED TAX INDEMNIFICATION AND GROSS-UP PAYMENTS AND HEALTH OR SOCIAL CLUB DUES TO EMPLOYEES LISTED IN PART VII AND SCHEDULE J. THESE BENEFITS ARE INCLUDED IN THEIR PART VII AND SCHEDULE J REPORTABLE COMPENSATION. BENJAMIN WICKUM CHIEF FINANCIAL OFFICER TO FUND LIFE INSURANCE POLICY X 6012985 3724718 0 1 1 BENJAMIN WICKUM CHIEF FINANCIAL OFFICER NEW REAL ESTATE LOAN X 510400 493424 0 1 1 BENJAMIN WICKUM CHIEF FINANCIAL OFFICER NEW REAL ESTATE LOAN X 239000 228347 0 1 1 BENJAMIN WICKUM CHIEF FINANCIAL OFFICER USED AUTO LOAN X 35100 26229 0 1 1 BENJAMIN WICKUM CHIEF FINANCIAL OFFICER USED AUTO LOAN X 33877 28328 0 1 1 JACK EMKES SENIOR VICE PRESIDENT TO FUND LIFE INSURANCE POLICY X 7200000 3392899 0 1 1 JACK EMKES SENIOR VICE PRESIDENT HELOC X 10000 10000 0 1 1 JACK EMKES SENIOR VICE PRESIDENT REAL ESTATE LOAN X 480000 475722 0 1 1 JOHN LEWIS VICE PRESIDENT IT/FACILITIES TO FUND LIFE INSURANCE POLICY X 3444000 2308008 0 1 1 JOHN LEWIS VICE PRESIDENT IT/FACILITIES NEW REAL ESTATE LOAN X 314000 304194 0 1 1 JOHN LEWIS VICE PRESIDENT IT/FACILITIES HELOC X 19400 16456 0 1 1 RANDY JOHNSON SENIOR VICE PRESIDENT REAL ESTATE LOAN X 381500 377990 0 1 1 STEFANIE RUPERT PRESIDENT/CHIEF EXECUTIVE OFFICER TO FUND LIFE INSURANCE POLICY X 13400167 8419106 0 1 1 STEFANIE RUPERT PRESIDENT/CHIEF EXECUTIVE OFFICER NEW REAL ESTATE LOAN X 244000 225701 0 1 1 STEFANIE RUPERT PRESIDENT/CHIEF EXECUTIVE OFFICER HELOC X 24000 24000 0 1 1 20055122 FORM 990, SCH L, PART II COLLINS COMMUNITY CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." ALTHOUGH THE IRS REQUIRES REPORTING IN PART II AS A LOAN TO AN INTERESTED PARTY, THIS IS NOT AN ACTUAL LOAN. THERE IS NO TRANSFER OF FUNDS TO THE PARTICIPANTS NOR AN OBLIGATION TO REPAY THE FUNDS. INSTEAD THE CREDIT UNION RECOVERS ANY OUTLAYS, PLUS INTEREST, FROM THE UNDERLYING POLICY. THAT IS, THE CREDIT UNION DEPOSITS FUNDS DIRECTLY INTO A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S OUTLAYS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. FORM 990, PART VI, SECTION A, LINE 6 COLLINS COMMUNITY CREDIT UNION HAS MEMBERS AS SPECIFIED BY THEIR BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERSHIP ELECTS THE BOARD MEMBERS AT THE CREDIT UNION'S ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS HAVE THE RIGHTS AND THE RESPONSIBILITY TO APPROVE THE ORGANIZATION'S MINUTES DURING THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE REVEIWED BY THE PRESIDENT/CEO PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C COLLINS COMMUNITY CREDIT UNION'S (CCCU) CONFLICT OF INTEREST POLICY IS APPLICABLE TO DIRECTORS, OFFICERS, AND EMPLOYEES. ALL NEW EMPLOYEES AND BOARD OF DIRECTORS MUST READ AND SIGN A CREDIT UNION BRIBERY POLICY THAT OUTLINES EMPLOYEE AND DIRECTOR CODE OF CONDUCT AND REQUIRES DISCLOSURE OF ANY CONFLICTS OF INTEREST. A CONFLICT OF INTEREST ARISES WHENEVER THE EMPLOYEE HAS THE OPPORTUNITY TO INFLUENCE CCCU OPERATIONS OR BUSINESS DECISIONS IN WAYS THAT COULD RESULT IN A PERSONAL FINANCIAL BENEFIT TO THE EMPLOYEE OR A MEMBER OF AN EMPLOYEE'S IMMEDIATE FAMILY. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S PERFORMANCE IS REVIEWED ANNUALLY BY THE BOARD. THE BOARD THEN SETS REASONABLE COMPENSATION FOR THE CEO BASED ON THEIR PERFORMANCE REVIEW. COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES IS THEN DETERMINED BY THE CEO BASED ON PERFORMANCE REVIEWS AND COMPETITOR COMPARISONS. THE CEO USES CREDIT UNION NATIONAL ASSOCIATION (CUNA) WAGES SURVEYS, OTHER MARKET SURVEYS AND 990 REPORTS FROM COMPARABLE ORGANIZATIONS WHEN DETERMINING COMPENSATION OF THE OTHER OFFICERS AND KEY EMPLOYEES. THE COMPENSATION DECISIONS ARE DOCUMENTED IN THE EXECUTIVE COMMITTEE BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION RELEASES ITS ANNUAL FINANCIAL STATEMENTS TO ALL OF ITS MEMBERS AND EMPLOYEES AT THE ANNUAL MEETING. THE ORGANIZATION'S ANNUAL REPORT AS WELL AS A COPY OF THE MOST UPDATED CONFLICT OF INTEREST POLICY OR FINANCIAL STATEMENTS IS AVAILABLE TO MEMBERS AND THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CURRENT YEAR CHANGE IN DEFINED BENEFIT PENSION PLAN 750,035. CURRENT YEAR CHANGE IN POSTRETIREMENT BENEFIT PLAN 112,230. CHANGE IN NONCONTROLLING INTEREST IN SUBSIDIARY 51,604. FORM 990, PART XII, LINE 2C: THE CREDIT UNION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. 1150 PROPERTIES LLC PO BOX 10500 CEDAR RAPIDS IA 52410 420190489 INACTIVE IA 0 0 COLLINS COMMUNITY CU COLLINS HOLDING COMPANY CUSO LLC PO BOX 10500 CEDAR RAPIDS IA 52410 831864057 HOLDING COMPANY IA 0 17521998 COLLINS COMMUNITY CU COLLINS LOAN SERVICES LLC PO BOX 10500 CEDAR RAPIDS IA 52410 831888678 COMMERCIAL LOANS IA 324539 76360063 COLLINS HOLDING COMPANY COURSEMARK LLC PO BOX 10500 CEDAR RAPIDS IA 52410 861904712 EXECUTIVE BENEFITS IA -16869 1008131 COLLINS HOLDING COMPANY NORTHTOWNE MARKET LOT 7 LLC PO BOX 10500 CEDAR RAPIDS IA 52410 831991439 PROPERTY MANAGEMENT IA COLLINS HOLDING COMPANY CUSO LLC RELATED 265853 13420978 0 0 0.75000 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 NORTHTOWNE MARKET LOT 7 LLC K 1251582 FAIR MARKET VALUE