2019-11-15T03:19:38-00:00 2018-12-31 990 2018-01-01 420674206 Dupaco Community Credit Union DUPA 5635577600 3999 Pennsylvania Ave Dubuque IA 52002 Danielle Gratton CFO 2019-11-15 false 97.64.245.2 2019-11-15 21:19:17 CS P CB3599F0B68F2CF32A8E08E5FA2B3B4BE2AE9E47 CB3599F0B68F2CF32A8E08E5FA2B3B4BE2AE9E47 2018 2020-03-31 21:24:44Z Joseph Hearn 3999 Pennsylvania Ave Dubuque IA 52002 160562287 false X www.dupaco.com X 1948 IA Member-owned financial cooperative that offers a complete line of services. Dupacos vision is To be our members lifetime financial home and our mission is To improve our members financial position and build valued 9 9 541 9 408118 0 74503000 83984083 15258506 16648362 785436 1057126 90546942 101689571 610000 110000 0 24735674 29230841 0 0 40809169 49142316 66154843 78483157 24392099 23206414 1609367932 1696414367 1366300471 1444629492 243067461 251784875 To improve our members financial position and build valued relationships by delivering personalized financial advice, products, and services. false false To promote thrift and financial literacy in the communities which we serve. Collaborate with our members to become their lifetime financial home while providing no/low cost financial services and competitive loan and deposit rates. false false false false false false false false false true false true false true true true true false false false false false false false false false true false true false true false false false false false false false false true true false false true 78593 0 true 541 true true true false false false false false false false X 9 9 false false false false true true true true true false true true true true true true true true true true false IL X Danielle D Gratton CFO 5635577600 3999 Pennsylvania Ave Dubuque IA 52002 Denise Dolan Director 001.00 001.00 X 0 0 0 Randy Skemp Director 001.00 001.00 X 0 0 0 Ronald Mussehl Director 001.00 001.00 X 0 0 0 Renee Poppe Director 001.00 001.00 X 0 0 0 J Stephan Chapman Director 001.00 001.00 X 0 0 0 Ron Meyers Director 001.00 001.00 X 0 0 0 Jeff Gonner Director 001.00 001.00 X 0 0 0 Bob Wethal Director 001.00 001.00 X 0 0 0 Andy Schroeder Director 001.00 001.00 X 0 0 0 Joseph Hearn President/CEO 050.00 050.00 X 506417 0 86603 Danielle Gratton Chief Financial Officer 050.00 050.00 X 300847 0 93873 Matt Dodds Chief Operating Officer 050.00 050.00 X 294796 0 76996 Steve Ervolino Chief Information Officer 050.00 050.00 X 252242 0 104249 David Klavitter Chief Marketing Officer 050.00 050.00 X 234219 0 59852 Leo Costello SVP Business Development 050.00 050.00 X 140417 0 55189 Cole Schmelzer Financial Services Consultant 050.00 050.00 X 155944 0 15791 Michael Schroeder Financial Services Manager 050.00 050.00 X 225732 0 23249 Michael Poppen Financial Services Consultant 050.00 050.00 X 268935 0 27500 Todd Link SVP, Risk Management Remote Delivery 050.00 050.00 X 148122 0 34788 2527671 578090 21 false true false CO-OP Financial Services PO Box 8388 Des Moines IA 50301 Card Processing 4081889 Garling Construction inc 1120 11th Street Belle Plaine IA 52208 Construction 1392391 SHI International Corp PO Box 952121 Dallas TX 75395 Data Processing 1186124 Data Business Equipment 10513 Buena Vista Court Des Moines IA 50322 Business Equipment 1021274 Mastercard 2200 Mastercard Blvd OFallon MO 63368 Card Processing 924310 57 Loan Interest Income - Loans to Members 522100 52737320 52737320 Member Service Income 522100 31246763 30838645 408118 83984083 17029261 17029261 44800 44800 44800 57561226 930591 58668604 204112 -1107378 726479 -380899 Miscellaneous Income 522100 1012326 1012326 1012326 101689571 84588291 408118 17029261 110000 0 0 0 0 1588521 21477072 1958017 2668954 1538277 0 203756 204031 0 0 0 8381817 1076394 2933332 0 2992399 0 0 0 13214602 0 3258564 108611 Draft Charges 1460869 Miscellaneous Expense 2581509 Operating Expense 4901018 Provision for Loan Loss 7825414 0 78483157 16619114 19037648 82507489 54071109 2058004 590462 14170642 14595761 968254251 1121845969 1160562 1888194 63374430 28388348 32067583 34986082 334540658 324671493 127250849 90139906 30738780 34587743 1609367932 1696414367 8269028 6241493 75000000 97000000 1283031443 1341387999 1366300471 1444629492 X 243067461 251784875 243067461 251784875 1609367932 1696414367 X 23206414 -14489000 X false true X true false false 5163209 5163209 34448550 10297093 24151457 23762671 18091255 5671416 34986082 Financial derivatives and other financial products Closely-held equity interests FHLB Stock 13963300 F CDs/Mutual Funds 76176606 F Dupaco Financial Services Investment F TMG Financial Service Cap Loan Program F 90139906 Federal income taxes Regular Shares 310775162 Member Shares 578595061 Certificates 452017776 1341387999 X 101689571 101689571 101689571 78483157 78483157 78483157 X 2 The Credit Union is exempt, under Internal Revenue Code IRC 501c14, from federal and state income taxes. The Credit Union has filed tax returns in the past for activities it has 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 Unions exempt purpose is not expected to have a material effect on the Credit Unions 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 Unions 2014 through 2017 tax years are open for examination by federal and state taxing authorities. true Dupaco RW Hoefer Foundation 3999 Pennsylvania Ave Dubuque IA 52002 454145438 501c3 110000 1 X X true true X X X X X false true false Joseph Hearn President/CEO 359380 123654 23383 86603 2497 595517 Danielle Gratton Chief Financial Officer 225805 69886 5156 93873 2496 397216 Matt Dodds Chief Operating Officer 214991 73997 5808 76996 2472 374264 Steve Ervolino Chief Information Officer 190782 59809 1651 104249 2352 358843 David Klavitter Chief Marketing Officer 177472 50445 6302 59852 2315 296386 Leo Costello SVP Business Development 108502 30889 1026 55189 1473 197079 Cole Schmelzer Financial Services Consultant 130172 25514 258 15791 1577 173312 Michael Schroeder Financial Services Manager 92930 132385 417 23249 1180 250161 Michael Poppen Financial Services Consultant 93630 175125 180 27500 1225 297660 Todd Link SVP, Risk Management Remote Delivery 113630 32838 1654 34788 1562 184472 Part I Line 1a Health or social club dues are paid for officers or members of the senior leadership team of Dupaco Community Credit Union as part of their compensation package. Any dues that are paid to these members are added to their W-2s at the end of the year as reportable compensation. Part II Line C The Dupaco Board of Directors has designed the Dupaco management compensation program to be competitive in the marketplace and ensure alignment of the long term interests of both managers and members. Dupaco management compensation is based on national compensation surveys and independent consultant analyses of similar sized financial institutions around the United States. The Dupaco Board of Directors Personnel Committee regularly reviews the data to ensure Dupaco is paying a fair market wage to attract and retain the best employee talent to manage a strong, stable and successful financial institution. The Personnel Committee provides annual recommendations of salary adjustments to the Board of Directors, who then votes on the recommendations. Components of management compensation packages include a large percentage of variable at risk pay, which is based on the credit unions member staff engagement, satisfaction, and financial performance during specified time periods, as well as the credit unions business strategy as determined by the Board of Directors. To retain long-term talent in the financial services industry, in addition to offering a 401K Salary Savings Plan, Dupaco provides designated executives with a non qualified long term executive incentive plan. Designed to be self funding in nature through the achievement of growth and member service initiatives, the funding cost of supplemental Retirement Plan benefits will be recouped by the credit union through life insurance policy proceeds on plan participants. A tool for retention, the participating staff member must remain at the credit union until retirement age to become fully vested in the deferred compensation benefit. Joe Hearn President/CEO FUND PURCHASE OF CASH VALUE OF LIFE INSURANCE POLICIES X 7650000 7890994 false true true Danielle Gratton CFO FUND PURCHASE OF CASH VALUE OF LIFE INSURANCE POLICIES X 1500000 1547254 false true true Matt Dodds COO FUND PURCHASE OF CASH VALUE OF LIFE INSURANCE POLICIES X 2000000 2063005 false true true David Klavitter CMO FUND PURCHASE OF CASH VALUE OF LIFE INSURANCE POLICIES X 1850000 1908280 false true true Todd Link SVP, Risk Management FUND PURCHASE OF CASH VALUE OF LIFE INSURANCE POLICIES X 1150000 1186228 false true true 14595761 Part II Line c The organization deposited funds into a life insurance policy on the participants life. During life, and subject to the policy generating sufficient values, the participant can borrow from the policy. At death, the organization recovers its premiums plus interest plus additional key person insurance proceeds. Form 990, Part VI, Section A, Line 6 Membership of Dupaco Community Credit Union includes all eligible persons described below that have an account at the Credit Union. Form 990, Part VI, Section A, Line 7a Membership of Dupaco Community Credit Union shall consist of and be limited to such natural persons and entities eligible by law and as approved from time to time by, and recorded at the office of, the Superintendent of Credit Unions. To be eligible to be a Dupaco member, you must live or work within our 108 county charter area in Iowa, Northwest Illinois, and Southwest Wisconsin. Form 990, Part VI, Section A, Line 7b There shall be an annual meeting of the members on a date designated by the board of directors. Twenty two members shall constitute a quorum. If a quorum is not present on the date first designated for annual or special meetings of the credit union, the meetings shall be adjourned for not more than 15 days, and a second notice shall be mailed to or posted for all members stating the time and place of the adjourned meeting and those members present at such adjourned meeting shall constitute a quorum for the transaction of all business. Form 990, Part VI, Section B, Line 11b Every voting member of the board of directors received a full copy of the final 2018 990 tax return for Dupaco Community Credit Union to review prior to the submission of the return to the IRS. Any questions that the board members had in regards to the return were discussed. Form 990, Part VI, Section B, Line 12c Dupaco annually requires all directors to complete a conflict of interest form where any member accounts or organizations that would potentially impair their independence with Dupaco Community Credit Union are listed. Dupaco Community Credit Unions Employee Handbook discusses the Conflict of Interest policy in which employees sign an acknowledgement stating they have read and understood the Handbook. Upon completion of each, the various forms are kept in the administration office under a locked file cabinet. Form 990, Part VI, Section B, Line 15 The Dupaco Board of Directors has designated the Dupaco management compensation program to be competitive in the marketplace and ensure alignment of the long term interests of both managers and members. Dupaco management compensation is based on national compensation surveys and independent consultant analyses of similar sized financial institutions around the United States. The Dupaco Board of Directors Personnel Committee regularly reviews this data to ensure Dupaco is paying a fair market wage to attract and retain the best employee talent to manage a strong, stable and successful financial institution. The personnel committee provides annual recommendations of salary adjustments to the Board of Directors, who then votes on the recommendations. Components of management compensation packages include a large percentage of variable at risk pay, which is based on the credit unions member staff engagement, satisfaction, and financial performance during specified time periods, as well as the credit unions business strategy as determined by the Board of Directors. Form 990, Part VI, Section C, Line 19 Dupacos governing documents, conflict of interest policy, and financial statements are posted at each branch location and are also available upon request. Form 990, Part XI, Line 5 Securities available for sale are accounted for at fair value and the unrealized holding gains and losses are presented as a separate component of accumulated other comprehensive income. The change in unrealized loss on securities available for sale was 14,489,000. Dupaco Holding LLC 3999 Pennsylvania Ave Dubuque IA 52002 391873865 Holding Company IA 483130 1205712 Dupaco Community Credit Union Dupaco Insurance Services LLC 3999 Pennslyvania Ave Dubuque IA 52001 421024767 Insurance Services IA 1986799 1126085 Dupaco Holding LLC Dupaco RW Hoefer Foundation 3999 Pennsylvania Avenue Dubuque IA 52002 454145438 The encouragement of education, promotion of charity, and to contribute to organizations or causes w IA 501c3 PF N/A true Dupaco Financial Services Inc 3299 Hillcrest Road Dubuque IA 52001 391873865 Financial Services IA Dupaco Community Credit Union C Corp 176769 1.00000 false Dupaco Insurance Services Inc 3299 Hillcrest Road Dubuque IA 52001 421024767 Insurance Services IA Dupaco Financial Services C Corp 214602 1.00000 false false true false true false false false false false false false false false true true false true false false Dupaco RW Hoefer Foundation b 110000 Cash Donation