2021-11-15T14:42:47-06:00 2020-12-31 420714325 RSM US LLP 4650 E 53RD ST DAVENPORT IA 528073479 990 2020-01-01 420190489 COLLINS COMMUNITY CREDIT UNION COLL 3193939000 PO BOX 10500 CEDAR RAPIDS IA 52410 BENJAMIN WICKUM CHIEF FINANCIAL OFFICER 3193939000 2021-11-12 1 BENJAMIN WICKUM 999009999 JENIFER L CHASE P01306883 5638884000 2021-11-12 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z STEFANIE RUPERT PO BOX 10500 CEDAR RAPIDS IA 52410 78703567 0 X WWW.COLLINSCU.ORG X 1940 IA OUR MISSION IS TO DEVOTE OURSELVES TO FINANCIAL SUCCESS FOR ALL. 10 10 375 10 92589 0 0 0 70249952 74165034 3752169 4346330 111571 92589 74113692 78603953 0 124097 0 0 25246594 29088268 0 0 0 47935970 44392775 73182564 73605140 931128 4998813 1242983418 1327686585 1140913405 1221434509 102070013 106252076 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 50652 0 1 375 1 1 1 0 0 0 0 0 0 0 X 10 10 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 CREDIT CHAIRPERSON 1.00 X 0 0 0 HEATHER FRIEDMAN SECRETARY 1.00 X X 0 0 0 WILLIAM KOOISTRA FINANCIAL OFFICER 1.00 X 0 0 0 TOM MANOR BOARD MEMBER 1.00 X 0 0 0 SUE NELSON AUDIT SECRETARY 1.00 X 0 0 0 JENNIFER RUPPERT AUDIT CHAIRPERSON 1.00 X 0 0 0 MARSHA SCHULTE CHAIRPERSON 1.00 X X 0 0 0 LISA THOMPSON BOARD MEMBER 1.00 X 0 0 0 STEFANIE RUPERT PRESIDENT/CHIEF EXECUTIVE OFFICER 40.00 X 488628 0 49225 BENJAMIN WICKUM CHIEF FINANCIAL OFFICER 40.00 X 273838 0 44632 JACK EMKES SENIOR VICE PRESIDENT 40.00 X 275205 0 46734 SCOTT FROST CHIEF LENDING OFFICER 40.00 X 210063 0 47050 JOHN LEWIS VICE PRESIDENT IT/FACILITIES 40.00 X 213019 0 37377 DANA GOSHON MORTGAGE LOAN OFFICER 58.00 X 497030 0 50570 THOMAS AXVIG MORTGAGE LOAN OFFICER 44.00 X 439909 0 42967 JASON KAIMAN MORTGAGE LOAN OFFICER 40.00 X 399500 0 51220 ZACHARY STINEMAN MORTGAGE LOAN OFFICER 40.00 X 386561 0 48224 TIMOTHY LAMB MORTGAGE LOAN OFFICER 40.00 X 345079 0 23020 3528832 0 441019 35 0 1 0 HUNTER CONSTRUCTION COMPANY PO BOX 1826 CEDAR RAPIDS IA 52406 CONSTRUCTION 4760578 FISERV 75 REMITTANCE DR SUITE 1649 CHICAGO IL 606751649 EXTERNAL DATA PROCESSING 4265017 TURNKEY ASSOCIATES LC 3015 GREYHOUND DRIVE WATERLOO IA 50701 CONSTRUCTION 1714152 SAXTON 600 3RD ST SE STUDIO 300 CEDAR RAPIDS IA 524012010 OFFICE FURNITURE & DESIGN 1428017 CDW PO BOX 75723 CHICAGO IL 606755723 COMPUTER EQUIPMENT 1296210 56 INCOME ON LOANS 522100 42679271 42679271 FEES/CHARGES/OTHER INCOME 522100 31485763 31485763 74165034 4333676 4333676 112268 99614 12654 12654 12654 NON MEMBER ATM INCOME 900099 92589 92589 92589 78603953 74165034 92589 4346330 124097 1685771 21718806 2221324 1880691 1581676 252866 459790 3528492 878160 2526920 2388945 2001454 25320 438 12852744 2209021 300971 PROVISION FOR LOAN LOSS 7012254 LOAN SERVICES 5650677 DEBIT AND CREDIT EXPENS 1694276 MISCELLANEOUS 845270 1765177 73605140 X 10487935 18499106 156344671 183381677 285360 88736 14213566 10791257 920948583 857766971 4112905 5925422 69859173 21597676 19273385 48261497 60760826 159046909 8250958 11039312 48305229 32885698 1242983418 1327686585 13416316 20855093 5148637 6661189 25491620 29584915 1096856832 1164333312 1140913405 1221434509 X 0 0 0 0 102070013 106252076 102070013 106252076 1242983418 1327686585 X 4998813 411294 -1228044 X X 0 1 X 1 0 0 1 X 8680338 8680338 28711429 7922886 20788543 18225334 3080472 15144862 12983826 9412153 3571673 1258246 1182165 76081 48261497 SHARE ACCOUNTS 203524437 MONEY MARKET ACCOUNTS 291898162 IRA 7672772 SHARE DRAFT ACCOUNTS 291661466 CD AND IRA CD 369115557 DUE FROM COLLINS 460918 1164333312 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 (IRC SECTION 501(C)14), FROM FEDERAL AND STATE INCOME TAXES. THE CUSOS 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 GIVING TUESDAY THE GREATER CEDAR RAPIDS COMMUNITY FOUNDATION 324 3RD STREET SE CEDAR RAPIDS IA 52401 426053860 501(C)(3) 8000 2020 MICRO LOAN PROGRAM IOWA CREDIT UNION LEAGUE 7745 OFFICE PLAZA DRIVE N STE 170 WEST DES MOINES IA 50266 830494970 501(C)(6) 10000 GENERAL SUPPORT JDRF INTERNATIONAL 200 VESEY STREET 28TH FLOOR NEW YORK NY 10281 231907729 501(C)(3) 7500 JDRF SPONSORSHIP JUNIOR ACHIEVEMENT OF EASTERN IOWA FOUNDATION 324 3RD STREET SE CEDAR RAPIDS IA 52401 431990830 501(C)(3) 15000 GENERAL SUPPORT MARION ECONOMIC DEVELOPMENT COMPANY 1225 6TH AVENUE STE 100 MARION IA 52302 421318828 501(C)(6) 6050 GENERAL SUPPORT ONE IOWA 950 OFFICE PARK RD ROOM 240 WEST DES MOINES IA 50265 721613927 501(C)(3) 5000 GENERAL SUPPORT TANAGER PLACE 2309 C STREET SW CEDAR RAPIDS IA 52404 420688079 501(C)(3) 7485 GENERAL SUPPORT UNITED WAY OF EAST CENTRAL IOWA 317 7TH AVENUE SE NO 401 CEDAR RAPIDS IA 52401 420861239 501(C)(3) 9375 GENERAL SUPPORT WOMEN LEAD CHANGE 501 FIRST STREET SE NO 200 CEDAR RAPIDS IA 52401 452932668 501(C)(3) 10000 WOMEN LEAD CHANGE 2021 CENTRAL IOWA CONFERENCE WORLDWIDE FOUNDATION FOR CREDIT UNIONS INC PO BOX 2982 MADISON WI 53701 396093210 501(C)(3) 10000 GENERAL SUPPORT 9 2 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 DANA GOSHON MORTGAGE LOAN OFFICER 158620 0 338367 0 43 0 24902 0 25668 0 547600 0 0 0 STEFANIE RUPERT PRESIDENT/CHIEF EXECUTIVE OFFICER 368534 0 89135 0 30959 0 25650 0 23575 0 537853 0 0 0 THOMAS AXVIG MORTGAGE LOAN OFFICER 108874 0 330398 0 637 0 22897 0 20070 0 482876 0 0 0 JASON KAIMAN MORTGAGE LOAN OFFICER 77091 0 322225 0 184 0 25561 0 25659 0 450720 0 0 0 ZACHARY STINEMAN MORTGAGE LOAN OFFICER 72303 0 314258 0 0 0 22809 0 25415 0 434785 0 0 0 TIMOTHY LAMB MORTGAGE LOAN OFFICER 106294 0 238785 0 0 0 14250 0 8770 0 368099 0 0 0 JACK EMKES SENIOR VICE PRESIDENT 191567 0 82611 0 1027 0 25650 0 21084 0 321939 0 0 0 BENJAMIN WICKUM CHIEF FINANCIAL OFFICER 232102 0 41586 0 150 0 24841 0 19791 0 318470 0 0 0 SCOTT FROST CHIEF LENDING OFFICER 171014 0 27492 0 11557 0 19231 0 27819 0 257113 0 0 0 JOHN LEWIS VICE PRESIDENT IT/FACILITIES 182666 0 27445 0 2908 0 19842 0 17535 0 250396 0 0 0 JACK EMKES SENIOR VICE PRESIDENT TO FUND LIFE INSURANCE POLICY X 5130000 1933406 0 1 1 SCOTT FROST CHIEF LENDING OFFICER TO FUND LIFE INSURANCE POLICY X 4800000 1366872 0 1 1 SCOTT FROST CHIEF LENDING OFFICER NEW REAL ESTATE LOAN X 226500 222986 0 1 1 SCOTT FROST CHIEF LENDING OFFICER INDIRECT NEW AUTO LOAN X 36624 14596 0 1 1 JOHN LEWIS VICE PRESIDENT IT/FACILITIES TO FUND LIFE INSURANCE POLICY X 3444000 1116499 0 1 1 JOHN LEWIS VICE PRESIDENT IT/FACILITIES NEW REAL ESTATE LOAN X 314000 311057 0 1 1 STEFANIE RUPERT PRESIDENT/CHIEF EXECUTIVE OFFICER TO FUND LIFE INSURANCE POLICY X 4938401 3289205 0 1 1 STEFANIE RUPERT PRESIDENT/CHIEF EXECUTIVE OFFICER NEW REAL ESTATE LOAN X 244000 234223 0 1 1 JENNIFER RUPPERT AUDIT CHAIRPERSON NEW REAL ESTATE LOAN X 59500 56664 0 1 1 BENJAMIN WICKUM CHIEF FINANCIAL OFFICER TO FUND LIFE INSURANCE POLICY X 3780000 1459590 0 1 1 BENJAMIN WICKUM CHIEF FINANCIAL OFFICER NEW REAL ESTATE LOAN X 510400 506288 0 1 1 BENJAMIN WICKUM CHIEF FINANCIAL OFFICER NEW REAL ESTATE LOAN X 239000 233635 0 1 1 BENJAMIN WICKUM CHIEF FINANCIAL OFFICER USED AUTO LOAN X 35100 33716 0 1 1 BENJAMIN WICKUM CHIEF FINANCIAL OFFICER INDIRECT USED AUTO LOAN X 25193 12520 0 1 1 10791257 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 A REASONABLE COMPENSATION FOR THE CEO BASED ON HIS PERFORMANCE REVIEW. COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES IS THEN DETERMINED BY THE CEO BASED ON PERFORMANCE REVIEWS AND COMPETITORS 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 X, COLUMN(A), LINES 21 & 25: IN 2020, COLLINS COMMUNITY CREDIT UNION DETERMINED THAT IT WAS MORE APPROPRIATE TO INCLUDE IN COLUMN (B) (END OF YEAR) FOR LINE 21 (ESCROW OR CUSTODIAL ACCOUNT LIABILITY) CERTAIN ITEMS INCLUDED IN PRIOR YEAR FORMS 990 IN LINE 25 (OTHER LIABILITIES), RESPECTIVELY. CONFORMING ADJUSTMENTS HAVE BEEN MADE TO THE 2020 BEGINNING OF YEAR AMOUNTS LISTED IN COLUMN (A) OF PART X. FORM 990, PART XI, LINE 9: CURRENT YEAR CHANGE IN DEFINED BENEFIT PENSION PLAN -1,017,234. CURRENT YEAR CHANGE IN POSTRETIREMENT BENEFIT PLAN -210,810. 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 1150 42ND ST NE CEDAR RAPIDS IA 52402 420190489 INACTIVE IA 0 0 COLLINS COMMUNITY CU COLLINS HOLDING COMPANY CUSO LLC 1150 42ND ST NE CEDAR RAPIDS IA 52402 831864057 HOLDING COMPANY IA 58947 74319899 COLLINS COMMUNITY CU COLLINS LOAN SERVICES LLC 1150 42ND ST NE CEDAR RAPIDS IA 52402 831888678 COMMERCIAL LOANS IA 328114 58380864 COLLINS HOLDING COMPANY NORTHTOWNE MARKET LOT 7 LLC 1150 42ND STREET NE CEDAR RAPIDS IA 52402 831991439 PROPERTY MANAGEMENT IA COLLINS HOLDING COMPANY CUSO LLC RELATED -156145 13035902 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 664105 FAIR MARKET VALUE