2014-05-05T08:39:20-05:00 2013-12-31 421186197 GARDINER THOMSEN 10555 NEW YORK AVENUE SUITE 200 DES MOINES IA 50322 990 2013-01-01 420794732 AFFINITY CREDIT UNION AFFI 5152887225 475 NW HOFFMAN LANE DES MOINES IA 50313 JASON CROOKS CEO 5152887225 2014-05-02 1 C L TELK JR CPA P00888922 5152701446 2013 2015-11-30 17:44:51Z JASON CROOKS 475 NW HOFFMAN LANE DES MOINES IA 50313 4148935 0 X WWW.AFFINITYCUIA.ORG X 1949 IA AFFINITY CREDIT UNION IS COMMITTED TO PROVIDING INNOVATIVE AND EXCELLENT PERSONAL SERVICE AND FINANCIAL PRODUCTS TO OUR MEMBERSHIP WHILE MAINTAINING FINANCIAL STABILITY. 9 9 38 0 0 -4062 0 0 2119375 2300942 161617 111782 1685605 1718646 3966597 4131370 0 0 0 0 1386332 1358822 0 0 0 2523989 2559933 3910321 3918755 56276 212615 68913182 72613616 62540424 65951923 6372758 6661693 X AFFINITY CREDIT UNION IS COMMITTED TO PROVIDING INNOVATIVE AND EXCELLENT PERSONAL SERVICE AND FINANCIAL PRODUCTS TO OUR MEMBERSHIP WHILE MAINTAINING FINANCIAL STABILITY. 0 0 3918755 4002023 AFFINITY CREDIT UNION PROVIDES A WIDE VARIETY OF SERVICES TO ITS MEMBERS; THE PRIMARY DEPOSIT PRODUCTS ARE SHARES AND SHARE DRAFTS. ANOTHER MAJOR PROGRAM AT AFFINITY CREDIT UNION IS OUR LENDING PROGRAM, WE OFFER A WIDE VARIETY OF LOANS INCLUDING NEW AND USED AUTO, SIGNATURE, MASTERCARD, REAL ESTATE SECURED AND LIMITED COMMERCIAL LOANS. OUR INDIRECT PROGRAM PROVIDES US WITH PARTNERSHIPS WITH AUTO DEALERS IN THE STATE OF IOWA. ANOTHER SERVICE THAT AFFINITY CREDIT UNION OFFERS IS OUR WIDE RANGE OF ONLINE SERVICES THAT INCLUDES BILL PAY AND MOBILE APP. MEMBERS HAVE THE OPPORTUNITY TO ACCESS THEIR ACCOUNT FROM THE INTERNET OR THROUGH A MOBILE APP. USING OUR FREE ONLINE SERVICES MEMBERS CAN VIEW ACCOUNT DETAILS, INCLUDING COPIES OF CLEARED SHARE DRAFTS, TRANSFER FUNDS WITHIN THEIR ACCOUNT OR TO OTHER AUTHORIZED ACCOUNTS, MAKE LOAN PAYMENTS, PAY BILLS VIA OUR BILL PAY SYSTEM, VIEW STATEMENTS, AND APPLY FOR LOANS. WE ALSO OFFER LINKS TO VARIOUS FINANCIAL ASSISTANCE WEB SITES FOR MEMBERS OF ALL AGES. 3918755 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1031 0 1 38 1 1 1 0 0 0 0 0 0 0 X 9 9 1 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 0 0 1 0 0 X X X JUSTIN WILLIAMS 5152887225 475 NW HOFFMAN LANE DES MOINES IA 50313 JAMES MARTENS CHAIRPERSON 2.00 X X 2122 0 0 DANIEL JOHN TREASURER 1.00 X X 0 0 0 MARJORIE RAMSEY SECRETARY 1.00 X X 0 0 0 RHONDA CASEY DIRECTOR 1.00 X 0 0 0 DOUG SASSMAN DIRECTOR 1.00 X 0 0 0 DAVID BUSCH VICE CHAIRPERSON 1.00 X X 0 0 0 LEE ROY PORTER JR DIRECTOR 1.00 X 0 0 0 JERRY JOHNSON DIRECTOR 1.00 X 0 0 0 PAMELA LEWIS DIRECTOR 1.00 X 0 0 0 SANDRA ROBINSON CEO (RETIRED FEB. 2014) 40.00 X 126058 0 14047 JASON CROOKS VICE PRESIDENT (BECAME CEO MAR.2014) 40.00 X 76458 0 2241 204638 0 16288 1 0 0 0 FISERV 2601 NETWORK BLVD SUITE 600 FRISCO TX 75034 FULL DATA PROCESSING, ONLINE BANKING, MO 636659 1 LOAN INTEREST 522100 2300942 2300942 2300942 129347 129347 17565 -17565 -17565 -17565 SERVICE FEES 522100 953158 953158 CREDIT/DEBIT CARD FEES 522100 489775 489775 275713 275713 1718646 4131370 4002023 0 129347 224482 224482 854557 854557 47055 47055 148796 148796 83932 83932 25287 25287 25199 25199 185416 185416 354790 354790 210456 210456 249818 249818 33587 33587 10250 10250 172915 172915 19936 19936 193579 193579 57159 57159 CREDIT/DEBIT CARD EXPEN 395544 395544 PROVISION FOR LOAN LOSS 171000 171000 LOAN EXPENSE 78562 78562 NCUSIF EXPENSE 50203 50203 326232 326232 3918755 3918755 0 0 767458 814465 9026903 6210954 40187944 51646074 129865 233926 4460651 2319587 2288504 2141064 1 15563229 10589700 949279 977432 68913182 72613616 873149 852833 61667275 65099090 62540424 65951923 X 0 0 2331237 2831237 4041521 3830456 6372758 6661693 68913182 72613616 212615 76320 0 X X 0 1 X 1 0 283648 283648 2889113 1358873 1530240 155457 118529 36928 1132433 842185 290248 2141064 CERTIFICATE OF DEPOSIT 9990000 C CORPORATE CENTRAL 516500 C FED HOME LOAN BK MEMBERSHIP STOCK 83200 C 10589700 MEMBER SHARES 65099090 65099090 X 4148935 17565 17565 4131370 0 4131370 3936320 17565 17565 3918755 0 3918755 PART X, LINE 2: IN ACCORDANCE WITH THE INCOME TAXES TOPIC OF THE FASB ASC, THE CREDIT UNION EVALUATES UNCERTAIN TAX BENEFITS ARISING FROM TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN BASED UPON THE LIKELIHOOD OF BEING SUSTAINED UPON EXAMINATION BY APPLICABLE TAX AUTHORITIES. IF THE CREDIT UNION DETERMINES THAT A TAX POSITION IS MORE LIKELY THAN NOT OF BEING SUSTAINED, IT RECOGNIZES THE LARGEST AMOUNT OF THE ARISING BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED UPON SETTLEMENT IN THE FINANCIAL STATEMENTS. ANY TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT DO NOT PASS THE MORE LIKELY THAN NOT TEST, THE CREDIT UNION ESTABLISHES RESERVES OFFSETTING THE BENEFITS RELATED TO SUCH POSITIONS. INTEREST AND PENALTIES, IF ANY, ARE INCLUDED IN THE CURRENT PERIOD PROVISION FOR INCOME TAXES IN THE CREDIT UNION'S STATEMENT OF INCOME AND ARE INCLUDED AS A CURRENT LIABILITY IN THE BALANCE SHEET. PART XI, LINE 2D - OTHER ADJUSTMENTS: LOSS ON FORECLOSED ASSETS 17,565. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON FORECLOSED ASSETS 17,565. FORM 990, PART VI, SECTION A, LINE 2 SANDRA ROBINSON, CEO, AND JASON CROOKS, VICE PRESIDENT OF OPERATIONS (2ND IN COMMAND) ARE AUNT AND NEPHEW. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS A CREDIT UNION WITH MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE ENTIRE BOARD OF DIRECTORS IS VOTED ON BY THE MEMBERSHIP OUT OF THE MEMBERSHIP. EVERY YEAR THERE ARE THREE POSITIONS UP FOR ELECTION FOR THREE YEAR TERMS (9 BOARD MEMBERS). BOARD MEMBERS COME OUT OF THE GENERAL MEMBERSHIP AND ANY MEMBER IN GOOD STANDING CAN RUN FOR THE BOARD. A MEMBER IN GOOD STANDING IS ONE WHO IS NOT DELINQUENT ON LOAN PAYMENTS, HAS THE MINIMUM $25 MEMBERSHIP AMOUNT ON DEPOSIT, AND HAD NOT CAUSED THE CREDIT UNION A LOSS (CHARGED OFF). FOR BOARD/VOTING PURPOSES THE MEMBER MUST ALSO BE AT LEAST 16 YEARS OLD. EACH MEMBER HAS ONE VOTE FOR EACH OPEN POSITION. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERSHIP OF THE CREDIT UNION IS REQUIRED TO VOTE ON ANY ACTION THAT WOULD CHANGE THE BYLAWS OF THE CREDIT UNION. THIS INCLUDES BUT IS NOT LIMITED TO, NAME CHANGE, MERGERS, AND CHARTER CONVERSION (CHANGING STRUCTURE AWAY FROM A CREDIT UNION). FORM 990, PART VI, SECTION B, LINE 11 THE CEO AND FINANCE MANAGER REVIEW THE FORM AFTER THE CPA FIRM COMPLETED IT BASED ON THE INFORMATION PROVIDED TO THEM BY THE CREDIT UNION. AFTER THE FORM HAS BEEN REVIEWED BY MANAGEMENT ADDITIONAL COPIES ARE MADE AND GIVEN TO THE BOARD OF DIRECTORS TO REVIEW PRIOR TO THE CEO SIGNING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY. THE BOARD OF DIRECTORS AND MANAGEMENT ARE RESPONSIBLE FOR MONITORING. FORM 990, PART VI, SECTION B, LINE 15A IPERFORMEASE AND COMPEASE SOFTWARE IS USED TO ESTABLISH AND MAINTAIN JOB PAY SCALES AND ENSURE EQUITABLE REVIEWS FOR EMPLOYEES IN THE SAME JOB CLASS AND INCLUDES WRITTEN JOB DESCRIPTIONS WITH WRITTEN EXPECTATIONS THAT ARE USED BY THE IMMEDIATE SUPERVISOR TO CREATE THE PERFORMANCE REVIEW THAT IS REVIEWED BY TWO LEVELS OF UPPER MANAGEMENT. FORM 990, PART VI, SECTION C, LINE 18 A COPY OF THE CURRENT 990 IS KEPT AT THE RECEPTIONIST'S DESK OF OUR MAIN OFFICE AND IS AVAILABLE FOR REVIEW DURING NORMAL BUSINESS HOURS. FORM 990, PART VI, SECTION C, LINE 19 THE MONTHLY FINANCIAL STATEMENT IS POSTED IN THE LOBBY OF EACH THE OF THE BRANCHES. FORM 990 PAGE 12 PART XII LINE 3C THE AUDIT COMMITTEE; WHICH IS COMPOSED OF BOARD MEMBERS; HIRES THE CPA FIRM AND POLICYWORKS TO COME IN AND PERFORM REGULAR OUTSIDE AUDITS AND THE RESULTS ARE REPORTED TO THE FULL BOARD. IF ANY AUDIT WERE TO FIND AN ISSUE OF CONCERN IT WOULD BE REPORTED TO THE COMMITTEE CHAIR AND THE CEO (UNLESS THE CEO WAS PART OF THE PROBLEM). THE CEO AND VICE PRESIDENT OF OPERATIONS BOTH ASSIST IN ENSURING THAT ALL NECESSARY AUDITS OCCUR WHEN NEEDED AS THE AUDIT COMMITTEE MEMBERS ARE ALL VOLUNTEERS AND THE CEO AND VP ARE ON SITE DAILY. ON A DAILY BASIS THE CEO WORKS WITH THE ACCOUNTANT MAINTAIN THE BOOKS AND EITHER THE CEO OR VICE PRESIDENT OF OPERATIONS MUST APPROVE AND INITIAL ALL INVOICES BEFORE THEY ARE PAID.