2021-11-15T17:35:08-06:00 2020-12-31 410746749 CLIFTONLARSONALLEN LLP 9901 IH-10 WEST STE 350 SAN ANTONIO TX 78230 990 2020-01-01 390716655 HEARTLAND CREDIT UNION HEAR 6082827000 5325 HIGH CROSSING BLVD MADISON WI 53718 SALLY DISCHLER PRESIDENT/CEO 6082827000 2021-11-15 1 SALLY DISCHLER 999009999 DEAN ROHNE P00625086 2102987900 2021-11-15 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z SALLY DISCHLER 5325 HIGH CROSSING BLVD MADISON WI 53718 17949611 0 X WWW.HEARTLANDCU.ORG X 1936 WI TO PROVIDE QUALITY, COST-EFFECTIVE, PERSONALIZED FINANCIAL SERVICES FOR OUR MEMBERS' WELL-BEING. 7 7 94 13 84570 23754 0 0 16657353 17733754 599688 207273 34824 5142 17291865 17946169 0 0 1734190 1930530 6620877 7090844 0 0 0 5975251 6375356 14330318 15396730 2961547 2549439 312350469 362351818 284818637 332886321 27531832 29465497 TO PROVIDE OUR MEMBERS WITH QUALITY, COST-EFFECTIVE, PERSONALIZED FINANCIAL SERVICES THAT CONTRIBUTE TO THEIR SOCIAL AND ECONOMIC WELL-BEING. 0 0 WE ORIGINATED 3,451 NEW LOANS DURING 2020. AS OF 12/31/20, WE HAD 1,574 MORTGAGES/HOME EQUITY LINES, 7,810 CONSUMER LOANS, AND 813 MEMBER BUSINESS LOANS. WE ALSO HAD 5,005 CREDIT CARD ACCOUNTS WITH OUR MEMBERS. WE HAVE DEPOSIT, TRANSACTION AND INVESTMENT ACCOUNTS WITH 22,263 OF OUR MEMBERS AT 12/31/20. DURING 2020, WE OPENED 4,498 NEW DEPOSIT, TRANSACTION AND INVESTMENT ACCOUNTS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 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 6927 0 94 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 X SALLY DISCHLER 6082827000 5325 HIGH CROSSING BLVD MADISON WI 53718 RHONDA HOLLFELDER CHAIR 1.00 X X 730 0 0 LUCY HARR VICE-CHAIR 1.00 X X 730 0 0 JIM DALTON TREASURER 1.00 X X 730 0 0 JIM DROGUE DIRECTOR 1.00 X 730 0 0 MARC JONES SECRETARY 1.00 X X 730 0 0 DALE BURMESTER DIRECTOR-PART YEAR 1.00 X 0 0 0 MATT DAVIS DIRECTOR 1.00 X 730 0 0 ANDREW BAKER DIRECTOR 1.00 X 730 0 0 SALLY DISCHLER PRESIDENT/CEO 40.00 X 278998 0 24855 STEVE FARNSWORTH COO/EVP 40.00 X 166942 0 15761 KEVIN CROWE CFO/SVP 40.00 X 122782 0 13683 ANGELA HANSON CIO/SVP 40.00 X 124090 0 8091 DIANNE JENTZ VP BUSINESS LENDING 40.00 X 122666 0 8008 SHAWN REDMAN CLO/SVP 40.00 X 125734 0 12835 LYLE HANSEN CTO 40.00 X 116427 0 22097 JEFFERY RAUCH VP REAL ESTATE LENDING 40.00 X 109561 0 12508 APRIL OSHIRO RESIDENTIAL MORTGAGE LENDER 40.00 X 167823 0 19109 1340133 0 136947 9 0 1 0 LA MACCHIA GROUP 157 N MILWAUKEE ST MILWAUKEE WI 53202 BUILDING CONTRACTOR 573222 MORTGAGECLICK INC 90 MAPLE ST STONEHAM MA 02180 MORTGAGE SERVICES 107620 QUARLES & BRADY LLP 33 E MAIN ST UNIT 900 MADISON WI 53703 LEGAL 105765 3 INTEREST ON LOANS 522100 12002636 12002636 OTHER OPERATING INCOME 522100 4251519 4166949 84570 FEE INCOME 522100 1479599 1479599 17733754 209552 209552 5142 0 5142 5142 5142 1163 3442 -2279 -2279 -3442 1163 17946169 17650884 84570 210715 1930530 1477181 4152621 568591 524268 368183 6618 20470 501131 368210 367894 252141 556280 3446 50781 126389 461275 61954 MEMBER ACCOUNT/CARD COS 1467233 PROVISION FOR LOAN LOSS 1319622 LOAN SERVICING 725752 OTHER EXPENSES 86160 15396730 3300354 3163118 24822670 52894385 2624393 4394558 15792972 15929187 250853808 269494175 1381679 637260 14215190 6352894 7517151 7862296 496000 496000 2489013 2892750 3072429 4588089 312350469 362351818 6597853 6183582 10020092 4000000 268200692 322702739 284818637 332886321 X 0 0 0 0 27531832 29465497 27531832 29465497 312350469 362351818 X 2549439 -615786 12 X 0 0 0 1824047 1824047 7165322 2009615 5155707 173794 173794 0 4696553 3816362 880191 355474 353123 2351 7862296 MEMBER SHARE & DEPOSITS 318091729 NET PENSION LIABILITY 3018010 NONMEMBER DEPOSITS 1593000 322702739 X PART X, LINE 2: AS ALLOWED BY STATE REGULATORY AUTHORITIES, THE AUDIT IS DONE AS OF SEPTEMBER 30. THE REPORTING PERIOD FOR THE AUDIT, THEREFORE, DOES NOT MATCH THE REPORTING PERIOD FOR THE 990. PER FOOTNOTE 1 IN THE CREDIT UNION'S SEPTEMBER 30, 2020 AUDITED FINANCIAL STATEMENTS, THE CREDIT UNION IS EXEMPT, UNDER IRC SECTION 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES THEY HAVE DEEMED TAXABLE. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN IS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF SEPTEMBER 30, 2020 AND 2019. THE CREDIT UNION'S 2017 THROUGH 2019 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. X 0 0 0 SALLY DISCHLER PRESIDENT/CEO 231498 0 47500 0 0 0 16090 0 8765 0 303853 0 0 0 APRIL OSHIRO RESIDENTIAL MORTGAGE LENDER 58544 0 109279 0 0 0 9769 0 9340 0 186932 0 0 0 STEVE FARNSWORTH COO/EVP 140285 0 26657 0 0 0 9517 0 6244 0 182703 0 0 0 SALLY DISCHLER PRESIDENT SPLIT-DOLLAR LIFE INSURANCE X 7000000 7835228 0 1 1 STEVEN FARNSWORTH EVP SPLIT-DOLLAR LIFE INSURANCE X 1250000 1399148 0 1 1 STEVEN FARNSWORTH EVP SPLIT-DOLLAR LIFE INSURANCE X 1241800 1389969 0 1 1 KEVIN CROWE CFO SPLIT-DOLLAR LIFE INSURANCE X 1225434 1329338 0 1 1 ANGELA HANSON CIO SPLIT-DOLLAR LIFE INSURANCE X 1268263 1375798 0 1 1 DIANNE JENTZ VP BUSINESS LENDING SPLIT-DOLLAR LIFE INSURANCE X 1223904 1327678 0 1 1 SHAWN REDMAN CLO/SVP SPLIT-DOLLAR LIFE INSURANCE X 1248800 1272028 0 1 1 15929187 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION CONSISTS OF MEMBERS. TO BE A MEMBER, ONE MUST HAVE A SHARE/SAVINGS ACCOUNT. EACH MEMBER HAS ONE VOTE TO ELECT THE GOVERNING BODY (BOARD OF DIRECTORS). FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS ELECTED BY THE MEMBERSHIP UTILIZING THEIR ONE VOTE PER MEMBER. FORM 990, PART VI, SECTION A, LINE 7B EACH MEMBER HAS ONE VOTE TO UTILIZE IN RATIFYING SIGNIFICANT DECISIONS BEYOND THE AUTHORITY OF THE BOARD AS OUTLINED IN THE ORGANIZATIONS BYLAWS. ANY DECISION TO DISSOLVE OR MERGE THE ORGANIZATION REQUIRES APPROVAL OF MEMBERSHIP, UNLESS MANDATED BY REGULATORY AGENCY (I.E NCUA, WISCONSIN OFFICE OF CREDIT UNIONS) FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED FOR ERRORS AND OMMISSIONS FIRST BY CREDIT UNION EXECUTIVES, THEN A SUMMARY IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, ALL EMPLOYEES AND VOLUNTEERS ARE REQUIRED TO COMPLETE A DISCLOSURE OF ALL KNOWN RELATIONSHIPS WHICH MAY GIVE RISE TO CONFLICTS. THESE DISCLOSURES ARE MONITORED BY CREDIT UNION MANAGEMENT FOR COMPLIANCE. FORM 990, PART VI, SECTION B, LINE 15A TO DETERMINE CEO COMPENSATION, THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS REVIEWED ANNUAL CEO GOALS, CUES EXECUTIVE COMPENSATION SALARY DATA BY GEOGRAPHIC REGION, CREDIT UNION FINANCIAL RESULTS SPECIFICALLY THE ROA, AND THE PROJECTED BUDGET FOR THE COMING YEAR. THE EXECUTIVE COMMITTEE THEN MET IN PRIVATE TO DETERMINE THE COMPENSATION. THE MINUTES OF THE CEO REVIEW AND EXECUTIVE COMMITTEE WERE DOCUMENTED BY THE BOARD SECRETARY. THE BOARD CHAIRMAN THEN PROVIDED THE RESULTS TO THE REVIEW AND COMPENSATION TO THE ENTIRE BOARD DURING THE CLOSED SESSION. THIS WAS MOST RECENTLY COMPLETED IN 2019. FORM 990, PART VI, SECTION C, LINE 19 WE POST OUR FINANCIAL STATEMENTS IN ALL BRANCH LOBBIES ON A MONTHLY BASIS. FORM 990, PART XI, LINE 9: ROUNDING 12.