2019-11-07T08:24:59-06:00 2018-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2018-01-01 420190489 COLLINS COMMUNITY CREDIT UNION COLL 3193939000 PO BOX 10500 CEDAR RAPIDS IA 52410 BENJAMIN WICKUM CHIEF FINANCIAL OFFICER 3193939000 2019-11-06 1 JOSEPH A ZITO CPA P00648440 2482443000 104.11.88.150 2019-11-06 14:20:08 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 A7DB26C3BB201601930FCFA0C4651552B54C26A2 2018 2020-03-31 21:24:44Z STEFANIE RUPERT PO BOX 10500 CEDAR RAPIDS IA 52410 64097417 0 X WWW.COLLINSCU.ORG X 1940 IA OUR MISSION IS TO DEVOTE OURSELVES TO FINANCIAL SUCCESS FOR ALL. 9 9 393 10 117212 -42131 0 0 54481257 60384214 2990142 3595991 112685 117212 57584084 64097417 0 0 0 0 20687522 22108476 0 0 0 30409300 39876783 51096822 61985259 6487262 2112158 1086497827 1316535556 990695001 1217437325 95802826 99098231 OUR MISSION IS TO DEVOTE OURSELVES TO FINANCIAL SUCCESS FOR ALL. 0 0 FINANCIAL DEPOSIT, LOAN AND SERVICE ACCOUNTS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 45597 0 1 393 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X FINANCE DEPARTMENT - COLLINS CCU 3193939000 PO BOX 10500 CEDAR RAPIDS IA 52410 MARSHA SCHULTE DIRECTOR 1.00 X 0 0 0 WILLIAM KOOISTRA DIRECTOR 1.00 X 0 0 0 TOM MANOR DIRECTOR 1.00 X 0 0 0 LISA THOMPSON DIRECTOR 1.00 X 0 0 0 KARL CASSELL DIRECTOR 1.00 X 0 0 0 JON BUSE DIRECTOR 1.00 X 0 0 0 SUE NELSON DIRECTOR 1.00 X 0 0 0 JENNIFER RUPPERT DIRECTOR 1.00 X 0 0 0 HEATHER FRIEDMAN DIRECTOR 0.00 X 0 0 0 STEFANIE RUPERT PRESIDENT/CEO 40.00 X 481222 0 45332 BENJAMIN WICKUM CFO 40.00 X 229456 0 29851 JACK EMKES SENIOR VP 40.00 X 252061 0 38242 SCOTT FROST CHIEF LENDING OFFICER 40.00 X 194145 0 39823 JOHN LEWIS VP/IT AND FACILITIES 40.00 X 175364 0 32408 DANA GOSHON MORTGAGE LOAN OFFICER 40.00 X 222332 0 35085 AMBER MATSON MORTGAGE LOAN OFFICER 40.00 X 182103 0 30480 THOMAS AXVIG MORTGAGE LOAN OFFICER 40.00 X 172726 0 33989 SANDRA VAUGHAN SENIOR VP 40.00 X 163484 0 24465 JASON BEARD VP CONSUMER LENDING 40.00 X 168899 0 15772 2241792 0 325447 24 0 1 0 FISERV 75 REMITTANCE DRIVE STE 6974 CHICAGO IL 606756974 CORE PROCESSOR 2838452 WELLMARK PO BOX 10353 DES MOINES IA 503060353 MEDICAL INSURANCE 1712389 NEW YORK LIFE PO BOX 742545 CINNCINNATI OH 452742545 INSURANCE POLICIES FOR SENIOR STAFF 1602284 MASS MUTUAL 1295 STATE STREET SPRINGFIELD MA 011110001 INSURANCE POLICIES FOR SENIOR STAFF 1324058 LOCKTON COMPANIES PO BOX 123036 DALLAS TX 753123036 INSURANCE FOR I LOANS 1278985 31 INCOME ON LOANS 522100 44947261 44947261 FEES/CHARGES/OTHER INCOME 522100 15436953 15436953 60384214 3595991 3595991 NON MEMBER ATM INCOME 900099 117212 117212 117212 64097417 60384214 117212 3595991 X 1517904 16023073 1514792 1771491 1281216 136871 423645 2006862 1415033 2428736 2096553 1531981 64894 5549 14389336 199837 1680002 190666 PROVISION FOR LOAN LOSS 4623424 LOAN SERVICING 4110400 DEBIT AND CREDIT EXPENS 1720315 MISCELLANEOUS 787848 2064831 61985259 8942167 8691401 56502330 31558371 1811463 658587 7861056 10787224 953374140 1142173449 3983710 4266810 36926574 16937758 16799371 19988816 14571625 63581358 5938512 14329203 16713453 20500337 1086497827 1316535556 15592835 13742504 25000000 225000000 950102166 978694821 990695001 1217437325 X 0 0 0 0 95802826 99098231 95802826 99098231 1086497827 1316535556 X 2112158 -569403 1752650 X X 0 1 X 1 0 8703801 8703801 15558641 7086101 8472540 2814702 1979812 834890 9849430 7871845 1977585 19988816 SHARE ACCOUNTS 151708143 MONEY MARKET ACCOUNTS 241842511 IRA 8380662 SHARE DRAFT ACCOUNTS 189724836 CD AND IRA CD 387038669 978694821 X PART X, LINE 2: THE 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). 1150 PROPERTIES, LLC AND COLLINS HOLDING COMPANY, LLC HAVE BEEN ORGANIZED AS SINGLE-OWNER LLCS AND ARE CONSIDERED DISREGARDED ENTITIES FOR TAX PURPOSES. 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 WAS 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 DECEMBER 31, 2018 AND 2017. THE CREDIT UNION'S 2015 THROUGH 2018 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. X X 1 1 X X X 0 0 0 STEFANIE RUPERT PRESIDENT/CEO 343465 0 110548 0 27209 0 24750 0 20582 0 526554 0 0 0 BENJAMIN WICKUM CFO 193785 0 35073 0 598 0 19144 0 10707 0 259307 0 0 0 JACK EMKES SENIOR VP 152288 0 99046 0 727 0 22976 0 15266 0 290303 0 0 0 SCOTT FROST CHIEF LENDING OFFICER 151606 0 30438 0 12101 0 17270 0 22553 0 233968 0 0 0 JOHN LEWIS VP/IT AND FACILITIES 147050 0 27612 0 702 0 15388 0 17020 0 207772 0 0 0 DANA GOSHON MORTGAGE LOAN OFFICER 88702 0 133555 0 75 0 19502 0 15583 0 257417 0 0 0 AMBER MATSON MORTGAGE LOAN OFFICER 59628 0 122395 0 80 0 16560 0 13920 0 212583 0 0 0 THOMAS AXVIG MORTGAGE LOAN OFFICER 57914 0 114750 0 62 0 15130 0 18859 0 206715 0 0 0 SANDRA VAUGHAN SENIOR VP 135881 0 26970 0 633 0 13997 0 10468 0 187949 0 0 0 JASON BEARD VP CONSUMER LENDING 68115 0 100684 0 100 0 14723 0 1049 0 184671 0 0 0 PART I, LINE 4 STEFANIE RUPERT (CEO) PARTICIPATES IN A 457(B) RETIREMENT PLAN TO WHICH SHE DEFERRED APPROXIATELY $15,000 IN 2018. THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO THE STEPHANIE, RUPERT, BEN WICKUM, JACK EMKES, SCOTT FROST, SANDRA VAUGHN, AND JOHN LEWIS THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE UNDERLYING LIFE INSURANCE POLICY TO SUPPLEMENT RETIREMENT INCOME. THESE DRAWS ARE TAX FREE FOR THE PARTICIPANTS. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. RICK BENHART CEO TO FUND LIFE INSURANCE POLICY X 2837547 2837547 0 1 1 RICK BENHART CEO TO FUND LIFE INSURANCE POLICY X 784000 784000 0 1 1 STEFANIE RUPERT COO TO FUND LIFE INSURANCE POLICY X 1560223 1560223 0 1 1 STEFANIE RUPERT COO TO FUND LIFE INSURANCE POLICY X 339525 339525 0 1 1 JOHN LEWIS IT DIRECTOR TO FUND LIFE INSURANCE POLICY X 669899 669899 0 1 1 SCOTT FROST CHIEF LENDING OFFICER TO FUND LIFE INSURANCE POLICY X 911248 911248 0 1 1 SANDRA VAUGHAN SENIOR VP TO FUND LIFE INSURANCE POLICY X 791372 791372 0 1 1 BRUCE TAYLOR CONSUMER LENDING DIRECTOR TO FUND LIFE INSURANCE POLICY X 759280 759280 0 1 1 JACK EMKES SENIOR VP TO FUND LIFE INSURANCE POLICY X 1288787 1288787 0 1 1 BEN WICKUM CFO TO FUND LIFE INSURANCE POLICY X 845343 845343 0 1 1 10787224 SCHEDULE L, PART II, LOANS TO AND FROM INTERESTED PERSONS: (A) NAME OF PERSON: RICHARD BENHART(B) RELATIONSHIP WITH ORGANIZATION: PRESIDENT/CEO(C) PURPOSE OF LOAN: INSURANCE PREMIUM(A) NAME OF PERSON: STEFANIE RUPERT(C) PURPOSE OF LOAN: INSURANCE PREMIUM(A)NAME OF PERSON: RICHARD BENHART(B)RELATIONSHIP WITH ORGANIZATION: PRESIDENT/CEO(C)PURPOSE OF LOAN: INSURANCE PREMIUM(A) NAME OF PERSON: STEFANIE RUPERT(C) PURPOSE OF LOAN: INSURANCE PREMIUM(A)NAME OF PERSON: SCOTT FROST(B)RELATIONSHIP WITH ORGANIZATION: CHIEF LENDING OFFICER(C)PURPOSE OF LOAN: INSURANCE PREMIUM{A)NAME OF PERSON: SANDRA VAUGHAN(B)RELATIONSHIP WITH ORGANIZATION: SENIOR VICE PRESIDENT(C)PURPOSE OF LOAN: INSURANCE PREMIUM{A) NAME OF PERSON: JACK EMKES{B) RELATIONSHIP WITH ORGANIZATION: SENIOR VICE PRESIDENT{C) PURPOSE OF LOAN: INSURANCE PREMIUM(A)NAME OF PERSON: BEN WICKUM(B)RELATIONSHIP WITH ORGANIZATION: CHIEF FINANCIAL OFFICER(C)PURPOSE OF LOAN: INSURANCE PREMIUM FORM 990, SCH L, PART II THE 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 THE CREDIT UNION HAS INTERNAL AND EXTERNAL MEMBERS. 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 WILL BE REVEIWED BY THE PRESIDENT/CEO. FORM 990, PART VI, SECTION B, LINE 12C 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. 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. 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 IX, LINE 24E ATM EXPENSES 783,496. MAINTENANCE AND EQUIP RENTAL 730,499. TRAINING/EDUCATION 550,836. FORM 990, PART XI, LINE 9: CAPITAL CONTRIBUTION 1,488,400. RECLASSIFICATION FOR LOSSES INCLUDED IN NET INCOME - DEFINED BENEFIT PLAN 280,997. UNREALIZED LOSS INCURRED DURING THE PERIOD - DEFINED BENEFIT PLAN -572,523. UNREALIZED GAIN INCURRED DURING THE PERIOD - POSTRETIREMENT PLAN 553,331. RECLASSIFICATION FOR LOSSES INCLUDED IN NET INCOME - POSTRETIREMENT PLAN 2,445. 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 PROPERTY MANAGEMENT, SERVICES FOR SELECT PROPERTIES IA 195 6136594 COLLINS COMMUNITY CU