2015-11-12T09:48:37-06:00 2014-12-31 410746749 CLIFTONLARSONALLEN LLP PO BOX 217 AUSTIN MN 55912 990 2014-06-01 410585825 SPIRE CREDIT UNION SPIR 6512153500 2025 LARPENTEUR AVE W FALCON HEIGHTS MN 55113 JON SEEMAN CFO 6512153500 2015-11-12 1 SHERRI WESSELS P00888088 5074347000 2015-11-10 2014 2016-04-25 22:37:26Z X DAN STOLZ 2025 LARPENTEUR AVE W FALCON HEIGHTS MN 55113 19058005 0 X WWW.MYSPIRE.COM X CU 1934 MN TO IMPROVE THE FINANCIAL WELL BEING OF OUR MEMBER-OWNERS. 9 8 190 8 97229 -111246 0 16753060 1738069 0 18491129 0 1108083 6831766 0 0 8692818 16632667 1858462 624910056 777745579 574784171 708399841 50125885 69345738 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 172,389 DEPOSIT ACCOUNTS HELD BY 84,158 MEMBERS TOTALING $1,108,083. 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 15608 0 1 190 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 X TOM HEINZEN CHAIR 1.00 X 0 0 0 RON GLASGOW VICE CHAIR 1.00 X 0 0 0 LU HAMMER SECRETARY/TREASURER 1.00 X 0 0 0 LEE BRUCKER DIRECTOR 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 576363 0 277545 JON SEEMAN CFO 40.00 X 199562 0 19624 STAN EDWARDS COO/EVP 40.00 X 252341 0 81355 NIEL DEVASIR CIO 40.00 X 176816 0 17706 JAMES GANGER VP MEMBER PTSP DEVELOP. 40.00 X 163125 0 5681 MICHAEL SCHRADER VP CONSUMER LENDING 40.00 X 159177 0 21869 KELLIE EATON VP PAYMENT CARD SERVICES 40.00 X 151570 0 27039 1678954 0 450819 11 0 1 0 GREINER CONSTRUCTION 625 MARQUETTE AVE SUITE 840 MINNEAPOLIS MN 55402 GENERAL CONTRACTOR 729650 INTEGRATED 3948 WEST 50TH ST SUITE 212 EDINA MN 55424 ADVERTISING 429940 ARI MECHANICAL HH 9201 EAST BLOOMINGTON FREEWAY BLOOMINGTON MN 55420 BUILDING MAINT-FURNACE, HVAC 391864 LEROY SIGNS 6325 WELCOME AVE N SUITE 100 MINNEAPOLIS MN 55429 INTERIOR/EXTERIOR SIGNAGE 199220 NUSOURCE 9749 HAMILTON RD EDEN PRAIRIE MN 55344 ATM/COIN COUNTERS SERVICING 174308 10 INTEREST ON LOANS 900099 9936853 9936853 FEE INCOME 522100 6582217 6484988 97229 OTHER OPERATINE INCOME 900099 233990 233990 16753060 1460883 1460883 986 843076 0 566876 986 276200 277186 277186 18491129 16655831 97229 1738069 1108083 625972 4655140 1129954 420700 2320855 1039054 121588 1015981 9133 PROFESSIONAL & OUTSIDE 1743716 EDUCATIONAL & PROMOTION 1367677 LOAN SERVICING EXPENSES 807676 MISC. OPERATING EXPENSE 328998 -61860 16632667 2808453 4503474 34961179 69744024 345572 412210785 491656909 729297 47831620 15848836 26718698 31982784 89982338 83209652 53254424 65619397 4974179 29954470 624910056 777745579 4462634 4859983 570321537 703539858 574784171 708399841 X 0 0 0 0 50125885 69345738 50125885 69345738 624910056 777745579 X 1858462 611391 16750000 X X 0 0 1 0 12724356 12724356 23850179 8426296 15423883 555452 520589 34863 2710930 1862484 848446 7990703 5039467 2951236 31982784 SECURITIES - HTM 65619397 C 65619397 SHARE DRAFTS 153616185 REGULAR SHARES 183107568 MONEY MARKET SHARES 194792795 SHARE CERTIFICATES 109627620 IRA/KEOGH ACCOUNTS 60983569 ALL OTHER SHARES/DEPOSITS 1412121 703539858 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, 2014 FINANCIAL STATEMENTS, THE CREDIT UNION IS EXEMPT, UNDER IRC SECTION 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 CUSO, 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, 2014 AND 2013. THE SUBSIDIARY'S TAX YEARS 2009 AND FORWARD ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. X X X X 0 1 0 DAN STOLTZ CEO 370744 0 66144 0 139475 0 256020 0 21525 0 853908 0 0 0 JON SEEMAN CFO 180518 0 19044 0 0 0 10758 0 8866 0 219186 0 0 0 STAN EDWARDS COO/EVP 219597 0 32744 0 0 0 65569 0 15786 0 333696 0 0 0 NIEL DEVASIR CIO 159616 0 17200 0 0 0 4743 0 12963 0 194522 0 0 0 JAMES GANGER VP MEMBER PTSP DEVELOP. 158925 0 4200 0 0 0 0 0 5681 0 168806 0 0 0 MICHAEL SCHRADER VP CONSUMER LENDING 143133 0 16044 0 0 0 8268 0 13601 0 181046 0 0 0 KELLIE EATON VP PAYMENT CARD SERVICES 134426 0 17144 0 0 0 8075 0 18964 0 178609 0 0 0 PART I, LINE 4B DAN STOLTZ - PARTICIPATED IN 457(F) PLAN, 2014 PAYOUT $117,217 STAN EDWARDS - PARTICIPATED IN 457(F) PLAN, NO PAYMENTS RECEIVED IN 2014 SCHEDULE J, PAGE 2, COLUMNS B & C, DAN STOLTZ PLEASE NOTE THAT SOME AMOUNTS ON THIS SCHEDULE ARE RECOGNIZED TWICE. COLUMN B(III) INCLUDES AMOUNTS FROM THE COMPENSATION PLAN THAT WERE ACCRUED IN PRIOR YEARS AND PAID OUT IN 2014 AND COLUMN (C) INCLUDES A CURRENT YEAR ACCRUAL FOR THIS PLAN FOR A FUTURE DISTRIBUTION IF CERTAIN CONDITIONS ARE ACHIEVED. COLUMN B(II) INCLUDES A VARIABLE PAYMENT FOR 2013 THAT WAS PAID OUT IN 2014 AND ALSO INCLUDES A VARIABLE PAYMENT FOR 2014. COLUMN (C) INCLUDES A NORMAL EMPLOYER 401(K) MATCHING CONTRIBUTION WHICH WAS OFFERED TO ALL ELIGIBLE EMPLOYEES. COLUMN B(III) ALSO INCLUDES TRAVEL AND AUTO EXPENSES/ALLOWANCE WHICH IS SHOWN AS WAGES. 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 11 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 (HRN VIA THEIR COMPEASE PRODUCT) 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 VII, (9) DAN STOLTZ .PLEASE NOTE THAT SOME AMOUNTS ON THIS SCHEDULE ARE RECOGNIZED TWICE. COLUMN (D) INCLUDES AMOUNTS FROM THE COMPENSATION PLAN THAT WERE ACCRUED IN PRIOR YEARS AND PAID OUT IN 2014 AND COLUMN (F) INCLUDES A CURRENT YEAR ACCRUAL FOR THIS PLAN FOR A FUTURE DISTRIBUTION IF CERTAIN CONDITIONS ARE ACHIEVED. COLUMN (D) INCLUDES A VARIABLE PAYMENT FOR 2013 THAT WAS PAID OUT IN 2014 AND ALSO INCLUDES A VARIABLE PAYMENT FOR 2014. COLUMN (F) INCLUDES A NORMAL EMPLOYER 401(K) MATCHING CONTRIBUTION WHICH WAS OFFERED TO ALL ELIGIBLE EMPLOYEES. COLUMN (D) ALSO INCLUDES TRAVEL AND AUTO EXPENSES/ALLOWANCE WHICH IS SHOWN AS WAGES. FORM 990, PART XI, LINE 9: EQUITY ACQUIRED IN MERGER 16,750,000. 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. FORM 990, PART IX, LINE 5: SPIRE CREDIT UNION WAS A FEDERALLY CHARTERED CREDIT UNION UNTIL JUNE 1, 2014 WHEN IT BECAME STATE CHARTERED. AS THE CREDIT UNION IS ONLY REPORTING ITEMS OF INCOME AND EXPENSES FOR 7 MONTHS ON THE 2014 FORM 990, COMPENSATION AMOUNTS LISTED ON LINE 5 OF PART IX DO NOT MATCH THE AMOUNTS LISTED IN PART VII. THE AMOUNTS LISTED IN VII ARE FROM THE 2014 FORMS W-2 AND THE AMOUNTS LISTED IN PART IX ARE PRO-RATED FOR THE PERIOD JUNE 1 THROUGH DECEMBER 31, 2014. ROCHDALE AGENCY INC 2025 LARPENTEUR AVE FALCON HEIGHTS MN 55113 410709699 INSURANCE MN SPIRE CREDIT UNION C 777 10 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0