2016-11-15T06:33:12-00:00 2015-12-31 990 2015-01-01 420674206 DUPACO COMMUNITY CREDIT UNION DUPA 5635577600 3299 HILLCREST PO BOX 179 DUBUQUE IA 520040179 DANIELLE D GRATTON CFO 5635577600 2016-11-15 false 2015 2017-02-10 21:41:12Z JOSEPH HEARN 3299 HILLCREST RD DUBUQUE IA 52001 101430593 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 relationships by delivering personalized financial advice, products, and service. 9 9 399 9 446640 -75196 0 56191710 62143276 14547737 12224107 325464 382211 71064911 74749594 0 0 19415911 21214203 0 0 27564468 30629340 46980379 51843543 24084532 22906051 1262445324 1339209045 1080194899 1140199165 182250425 199009880 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 false false true false true false false false false false false false false false true false false true 68103 0 true 399 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 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 RICHARD BURGMEIER 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 430433 0 159446 DANIELLE GRATTON CHIEF FINANCIAL OFFICER 050.00 050.00 X 271032 0 98399 MATT DODDS CHIEF OPERATING OFFICER 050.00 050.00 X 250652 0 91620 JOHN KOPPES SVP BUS LENDING 050.00 050.00 X 184960 0 18831 STEVE ERVOLINO SVP IS/TECH SUPPORT 050.00 050.00 X 226248 0 85337 DAVID KLAVITTER SVP MARKETING 050.00 050.00 X 210496 0 79112 LEO COSTELLO SVP BUS DEVELOPMENT 050.00 050.00 X 161355 0 62464 NANCY TEKIPPE SVP SERVICE DELIVERY/OPER 050.00 050.00 X 184686 0 72522 MICHAEL SCHROEDER FINANCIAL SERVICES MANAGER 050.00 050.00 X 156090 0 16379 SUZAN MARTIN-HALLAHAN FINANCIAL SERVICES CONSULTANT 050.00 050.00 X 143019 0 15180 MICHAEL POPPEN FINANCIAL SERVICES CONSULTANT 050.00 050.00 X 125959 0 13125 ROBERT HOEFER CONSULTANT TO THE BOARD OF DIRECTORS 030.00 030.00 X 116500 0 0 MARK HETH ICCU CEO MERGED IN CREDIT UNION X 439689 0 0 2901119 712415 19 true true false THE MEMBERS GROUP PO BOX 8388 DES MOINES IA 50301 CARD PROCESSING 2595242 KIRK GROSS COMPANY PO BOX 2097 WATERLOO IA 50704 ARCHITECTURE 1650205 SHI INTERNATIONAL CORP PO BOX 952121 DALLAS TX 75395 DATA PROCESSING 787746 REFINERY DESIGN COMPANY 2001 ALTA VISTA ST DUBUQUE IA 52001 GRAPHIC FACILITY DESIGN 753176 LERDAHL BUSINESS INTERIORS PO BOX 620586 MIDDLETON WI 53562 OFFICE EQUIPMENT 699129 32 NON-MEMBER ATM FEES 522110 58051 58051 MEMBER SERVICE INCOME 522100 61696636 61696636 MBP INSURANCE INCOME 524298 388589 388589 62143276 13244565 13244565 24524 24524 24524 25255933 404608 26231547 449452 -975614 -44844 -1020458 MISCELLANEOUS INCOME 900099 357687 357867 357687 74749594 62054503 446640 13244565 0 0 0 0 1573822 0 14882286 1365329 2322699 1070067 0 194430 249108 0 0 0 3551951 983183 1775054 0 1981708 0 0 0 8094155 0 2014054 161970 DRAFT CHARGES 1481112 MISCELLANEOUS EXPENSE 2215585 OPERATING EXPENSE 3695224 PROVISION FOR LOAN LOSS 4231806 0 51843543 17386349 15765338 40449964 78944500 1023053 823172 1850770 718618469 792821468 1023434 769436 46194471 20306905 21365544 25887566 346120949 290824579 91480191 106888344 24977371 24633872 1262445324 1339209045 6112133 6608064 5224676 20038516 1068858090 1113552585 1080194899 1140199165 X 182250425 199009880 182250425 199009880 1262445324 1339209045 X 22906051 -6146596 X false true X true false false false 4526197 4526197 25769949 8024164 17745785 15898325 12282741 3615584 25887566 Financial derivatives and other financial products Closely-held equity interests FHLB STOCK 5106500 F CDS/MUTUAL FUNDS 67576114 F DUPACO FINANCIAL SERVICES INVESTMENTS 1205730 F TMG FINANCIAL SERVICES CAP LOAN PROGRAM 33000000 F 106888344 Federal income taxes REGULAR SHARES 223610562 MEMBER SHARES 563000959 CERTIFICATES 326941064 1113552585 X 74745665 74745665 3929 3929 74749594 51839614 51839614 3929 3929 51843543 X 2 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 on examination by taxing authorities, based on technical merits of the position. The Part X Line 2 tax benefits recognized in the financial statements from such a position are 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 derecognition, 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 does not have any uncertain tax positions. X 2 The Credit Union recognizes interest and penalties on income taxes as a component of income tax expense. With few exceptions, the Credit Union is no longer subject to U.S federal or state and local income tax examinations by tax authorities for years before 2010. XI 4b Revenues netted with Expenses 3,929 XII 4b Revenues netted with Expenses 3,929 X true true X X false true false JOSEPH HEARN PRESIDENT/CEO 316289 93872 20272 159446 2497 592376 DANIELLE GRATTON CHIEF FINANCIAL OFFICER 205818 60263 4951 98399 2462 371893 JOHN KOPPES SVP BUS LENDING 148718 34290 1952 18831 2781 206572 LEO COSTELLO SVP BUS DEVELOPMENT 126937 31374 3044 62464 1731 225550 NANCY TEKIPPE SVP SERVICE DELIVERY/OPER 142119 39827 2740 72522 1870 259078 STEVE ERVOLINO SVP IS/TECH SUPPORT 172219 52649 1380 85337 2280 313865 DAVID KLAVITTER SVP MARKETING 157168 48640 4688 79112 2127 291735 MATT DODDS CHIEF OPERATING OFFICER 194104 52841 3707 91620 2412 344684 MICHAEL SCHROEDER FINANCIAL SERVICES MANAGER 60000 95962 128 16379 707 173176 ROBERT HOEFER CONSULTANT TO THE BOARD OF DIRECTORS 116500 12075 128575 MARK HETH ICCU CEO MERGED IN CREDIT UNION 439689 439689 SUZAN MARTIN-HALLAHAN FINANCIAL SERVICES CONSULTANT 74000 68746 273 15180 1178 159377 Part I Line 1a Health or social club dues are paid for officers or members of the management 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 B iii Other Reportable compensation paid to Mark Heth, former CEO of Iowa Community Credit Union ICCU, represents payment of contractual obligations made by the former Iowa Community Credit Union Board of Directors, and assumed by Dupaco Community Credit Union as part of the Dupaco/ICCU merger agreement. 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 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 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. MARK HETH ICCU CEO MERGED IN CREDIT UNION FUND PURCHASE OF CASH VALUE OF LIFE INSURANCE POLICIES X 2000000 1850770 false true true 1850770 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 42 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 11a Every voting member of the board of directors received a copy of the final 2015 990 tax return for Dupaco Community Credit Union to review at the regularly scheduled board meeting prior to the submission of the return to the IRS. Any questions that the board members had in regards to the return were addressed at that time. Form 990, Part VI, Section B, Line 12c Dupaco annually requires all directors and employees to complete a conflict of interest form where all directors and employees list out any member accounts or organizations that would potentially impair their independence with Dupaco Community Credit Union. Upon completion of the forms, the forms are kept in the administration office under a locked file cabinet and are also reviewed by the Internal Auditor. Form 990, Part VI, Section B, Line 15 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 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 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 6,146,596. 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