2018-11-14T11:50:32-06:00 2017-12-31 410746749 CLIFTONLARSONALLEN LLP PO BOX 217 AUSTIN MN 55912 990 2017-01-01 410585825 SPIRE CREDIT UNION SPIR 6512153500 2025 LARPENTEUR AVE W FALCON HEIGHTS MN 55113 JON SEEMAN CFO 6512153500 2018-11-09 1 TANYA MEDGAARDEN P01717240 5074347000 2018-11-06 67.137.57.251 2018-11-09 10:54:07 CS P 967DCA4FABF3D6C7AE4D014617AEEE9CE601AE20 70545651873736B39CE34854CE8383AE7E7A4B44 2017 2019-02-21 02:37:17Z X DAN STOLTZ 2025 LARPENTEUR AVE W FALCON HEIGHTS MN 55113 70639729 0 X WWW.MYSPIRE.COM X CU 1934 MN TO IMPROVE THE FINANCIAL WELL BEING OF OUR MEMBER-OWNERS. 9 8 317 8 282881 -136209 0 34742167 41188050 3260708 2801649 138074 0 38140949 43989699 0 1648423 1647759 14643273 16861425 0 0 17770504 20174682 34062200 38683866 4078749 5305833 893889886 979607332 815856979 893095072 78032907 86512260 SPIRE CREDIT UNION IS A FINANCIAL COOPERATIVE COMMITTED TO PROVIDING COMPETITIVE, QUALITY FINANCIAL SERVICES WITH EMPHASIS ON SAFETY, SOUND OPERATIONS AND RESPECT FOR OUR MEMBERS AND EMPLOYEES. OUR PURPSOE: TO IMPROVE THE FINANCIAL WELL BEING OF OUR MEMBER-OWNERS. 0 0 PROVIDING SAVINGS DEPOSIT SERVICES, CHECKING ACCOUNTS, ORIGINATING NEW LOANS, AND SERVICING THE LOAN PORTFOLIO FOR MEMBERS. DIVIDENDS PAID TO MEMBERS ON 202,970 DEPOSIT ACCOUNTS HELD BY 98,321 MEMBERS TOTALING $1,647,759.42 RECORDING MEMBER ACCOUNT ACTIVITY AND PROVIDING MEMBERS ACCESS TO THEIR ACCOUNTS VIA HOME BANKING, ATM NETWORKS, AND IN PERSON AT THE CU OFFICE. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 22645 0 1 317 1 1 1 0 0 0 0 0 X 9 8 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 X JON SEEMAN 6512153500 2025 LARPENTUER AVE W FALCON HEIGHTS MN 55113 TOM HEINZEN CHAIR 1.00 X 0 0 0 RON GLASGOW VICE CHAIR 1.00 X 0 0 0 LYNN KOTHE DIRECTOR 1.00 X 0 0 0 LEE BRUCKER SECRETARY 1.00 X 0 0 0 TOM HIRTE DIRECTOR 1.00 X 0 0 0 JIM TAGLIA DIRECTOR 1.00 X 0 0 0 BOB OEHRLEIN DIRECTOR 1.00 X 0 0 0 CARL ANDERSON DIRECTOR 1.00 X 0 0 0 DAN STOLTZ CEO 40.00 X X 818776 0 39394 JON SEEMAN CFO 40.00 X 223235 0 25157 STAN EDWARDS COO/EVP 40.00 X 373277 0 30071 CLIFF WANTZ VP OF LENDING 40.00 X 218650 0 39013 JAMES GANGER VP MEMBER PTSP DEVELOP. 40.00 X 187450 0 22000 JANNA LIPSTEIN VP/CHIEF INFORMATION OFFICER 40.00 X 153001 0 23756 CASEY CARLSON VP OF MARKETING AND DEVELOPMENT 40.00 X 151687 0 16801 2126076 0 196192 18 0 1 0 JACK HENRY AND ASSOCIATES PO BOX 609 MONETT MO 55708 SOFTWARE SALES 772858 IAN-INTEGRATED ADV CO 3948 WEST 50TH FRANCE SUITE 212 EDINA MN 55424 ADVERTISING 750243 GREINER 121 SOUTH 8TH STREET MINNEAPOLIS MN 55402 CONSTRUCTION CONTRACTOR 469323 CORNERSTONE 7272 E INDIAN SCHOOL ROAD SCOTTSDALE AR 55420 CONSULTANTS 412574 SPC SECURITY 4005 PHEASANT RIDGE DR NE BLAINE MN 55449 SECURITY 409480 31 INTEREST ON LOANS 900099 24535053 24327753 207300 OTHER OPERATING INCOME 900099 10216480 10216480 FEE INCOME 522100 6436517 6360936 75581 41188050 2533978 2533978 26726834 190867 26531804 118226 195030 72641 267671 267671 43989699 40905169 282881 2801649 1647759 1106562 11210798 3459063 1085002 56924 29052 5174880 2248807 331824 176737 2349383 15610 PROFESSIONAL & OUTSIDE 3207305 EDUCATIONAL & PROMOTION 2456276 LOAN SERVICING EXPENSES 1890967 PROVISION FOR LOAN LOSS 1317300 919617 38683866 4481155 5437637 70649261 46207866 758645 612452 603503349 753966448 1290652 1317348 61283024 23404908 38349739 37878116 63536032 42088660 75804542 59692324 35516511 32406481 893889886 979607332 7174349 10745513 808682630 882349559 815856979 893095072 X 0 0 0 0 78032907 86512260 78032907 86512260 893889886 979607332 X 5305833 -227104 3400624 X X 0 0 1 0 15117349 15117349 32352847 12436727 19916120 114897 17469 97428 4340208 3315878 1024330 9357723 7634834 1722889 37878116 SECURITIES - HTM 59692324 C 59692324 SHARE DRAFTS 64583776 REGULAR SHARES 451772010 MONEY MARKET SHARES 242569345 SHARE CERTIFICATES 72386179 IRA/KEOGH ACCOUNTS 49425086 ALL OTHER SHARES/DEPOSITS 1347957 NONMEMBER DEPOSITS 265206 882349559 X PART X, LINE 2: PART X: AS ALLOWED BY STATE REGULATORY AUTHORITIES, THE AUDIT IS DONE AS OF JUNE 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 JUNE 30, 2017 FINANCIAL STATEMENTS, THE CREDIT UNION IS EXEMPT, UNDER IRC 501 (C) (14), FROM FEDERAL AND STATE INCOME TAXES. CERTAIN PRODUCTS AND SERVICES PROVIDED BY SELECT STATE CHARTERED CREDIT UNIONS HAVE BEEN DEEMED BY THE INTERNAL REVENUE SERVICE (IRS), IN TECHNICAL ADVICE MEMORANDUMS (TAMS) RELEASED IN 2007, TO BE UNRELATED TO THE SPECIFIC ENTITY'S EXEMPT PURPOSE. AS PRESENTED IN THE TECHNICAL ADVICE MEMORANDUMS, THE NET TAXABLE INCOME FROM THESE PRODUCTS AND SERVICES WOULD BE SUBJECT TO INCOME TAXES. CREDIT UNIONS HAVE LITIGATED AGAINST THE IRS POSITIONS NOTED IN THE TAMS AND HAVE BEEN SUCCESSFUL IN HAVING COURTS DECLARE IN 2009 AND 2010 THAT REVENUE FROM INSURANCE PRODUCTS SOLD TO MEMBERS, HELPING THEM PROTECT THEIR FINANCIAL WELLBEING, QUALIFIES AS EXEMPT PURPOSE INCOME, CONTRARY TO THE IRS POSITION IN THE TAMS. SPIRE CREDIT UNION CONVERTED TO A STATE CHARTERED CREDIT UNION ON JUNE 1, 2014 RESULTING IN IT BEING SUBJECT TO UNRELATED BUSINESS INCOME TAX. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF JUNE 30, 2017 AND 2016. THE CREDIT UNION'S 2016 AND 2017 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. THE CUSO (ROCHDALE AGENCY), HOWEVER, IS SUBJECT TO FEDERAL AND STATE INCOME TAXES. THE SUBSIDIARY HAS FILED TAX RETURNS IN THE PAST. THE SUBSIDIARY HAS EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF JUNE 30, 2017 AND 2016. THE SUBSIDIARY'S TAX YEARS 2013 AND FORWARD ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. X X X X 0 1 0 DAN STOLTZ CEO 444657 0 151360 0 222759 0 16050 0 23344 0 858170 0 0 0 JON SEEMAN CFO 186221 0 31937 0 5077 0 13204 0 11953 0 248392 0 0 0 STAN EDWARDS COO/EVP 150333 0 64021 0 158923 0 16949 0 13122 0 403348 0 0 0 CLIFF WANTZ VP OF LENDING 182764 0 35410 0 476 0 12131 0 26882 0 257663 0 0 0 JAMES GANGER VP MEMBER PTSP DEVELOP. 151198 0 29610 0 6642 0 11020 0 10980 0 209450 0 0 0 JANNA LIPSTEIN VP/CHIEF INFORMATION OFFICER 137011 0 15500 0 490 0 811 0 22945 0 176757 0 0 0 CASEY CARLSON VP OF MARKETING AND DEVELOPMENT 123427 0 25410 0 2850 0 8908 0 7893 0 168488 0 0 0 PART I, LINE 4B DAN STOLTZ - PARTICIPATED IN 457(F) PLAN. 2017 ACCRUED AMOUNT $99,141 - 2017 PAYOUT $198,291 STAN EDWARDS - PARTICIPATED IN 457(F) PLAN. 2017 ACCCRUED AMOUNT $78,462 - 2017 PAYOUT $156,923. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS COMPRISED OF A SINGLE CLASS OF MEMBER-OWNERS, EACH OF WHICH HAS EQUAL RIGHTS IN OWNERSHIP, GOVERNANCE AND VOTING RIGHTS AT THE ANNUAL MEETINGS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBER-OWNERS OF THE CREDIT UNION HAVE THE AUTHORITY TO ELECT THE MEMBERS OF THE BOARD OF DIRECTORS FOR THREE-YEAR TERMS ON A ROTATING BASIS. CANDIDATES ARE ELECTED BY A SIMPLE PLURALITY VOTE. THE SUPERVISORY COMMITTEE IS APPOINTED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B ANY CHANGES TO THE ENTITY'S BYLAWS NEED TO BE APPROVED BY THE MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE REVIEWED PRIOR TO SUBMISSION BY MANAGEMENT INCLUDING THE CFO. FORM 990, PART VI, SECTION B, LINE 12C A LISTING OF RELATED BUSINESSES ARE PROVIDED TO BOARD MEMBERS AND THEY ARE ASKED TO REVIEW AND SIGN OFF ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15A FORM 990, PART VI, SECTION B, LINE 15: THE BOARD SUBCOMMITTEE UTILIZES A 3RD PARTY RESOURCE, BALANCE COMP, TO DETERMINE THE CEO'S COMPENSATION. THE CEO DETERMINES THE COO'S COMPENSATION AND THE COO WORKS WITH HR ON THE REMAINING STAFF. NO INDEPENDENT PERSON/BUSINESS IS USED TO COMPLETE THE REVIEW, RATHER THEY UTILIZE A 3RD PARTY RESOURCE WHEN MAKING THE EVALUATION. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE POSTED IN THE CU BRANCHES MONTHLY. FORM 990, PART XI, LINE 9: EQUITY ACQUIRED IN MERGER 3,400,624. FORM 990, PART XII, LINE 2B AUDITED FINANCIAL STATEMENTS - THE AUDIT WAS DONE AS OF 6/30. THEREFORE, THE REPORTING PERIOD FOR THE AUDIT DOES NOT MATCH THE REPORTING PERIOD FOR THE 990. FORM 990, PART XII, LINE 2C: THE SUPERVISORY COMMITTEE OVERSEES THE AUDIT AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. ROCHDALE AGENCY INC 2025 LARPENTEUR AVE FALCON HEIGHTS MN 55113 410709699 INSURANCE MN SPIRE CREDIT UNION C 1444 10 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0