2024-04-30T19:06:57+00:00 2023-12-31 350921680 CROWE LLP 575 Market Street Suite 3300 San Francisco CA 941055829 990 2023-01-01 363047069 Healthcare Associates Credit Union HEAL 6302765555 PO Box 3053 Naperville IL 605667053 Joseph J Kregul President/CEO 2024-05-01 true Joseph Kregul 999009999 true Diane Kirmaci P01578407 4155761100 2023 2023-04-26 12:10:37Z Joseph J Kregul PO Box 3053 Naperville IL 605667053 24596802 false X www.hacu.org X 1979 IL HealthCare Associates Credit Union's mission is to encourage thrift among its members and create a source of reasonable credit. 9 9 71 10 53921 12651 0 0 16004527 19626457 3909033 4868399 359621 101946 20273181 24596802 0 0 1427226 2954392 7021621 6839738 0 0 8347977 11379841 16796824 21173971 3476357 3422831 455322003 459830529 415388282 413482805 39933721 46347724 The mission of Healthcare Associates Credit Union is to encourage thrift among its members and create a source of reasonable credit. false false LOANS ARE GRANTED TO INDIVIDUALS WHO ARE MEMBERS THAT ARE IN GOOD STANDING WITH THE CREDIT UNION AND WHO QUALIFY FOR SUCH LOANS. LOANS PROVIDED CONSIST OF HOME EQUITY, CREDIT CARD, AND VEHICLE LOANS. Also, SHAREDRAFT ACCOUNTS ARE OFFERED AT A NO-MONTHLY FEE BASIS TO THOSE MEMBERS WHO APPLY AND ARE IN GOOD STANDING WITH THE CREDIT UNION. As well as, ATM/DEBIT CARDS AND CHECKCARDS ARE AVAILABLE TO MEMBERS WHO APPLY FOR ELECTRONIC ACCESS TO THEIR ACCOUNTS FOR DEPOSIT AND WITHDRAWAL OF FUNDS AND ACCOUNT INFORMATION. 0 false false true false false false true false true true false false true true true false false false false false false false false false false false false true false false false false false false false false false false false false false false true 10477 0 true 71 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 false false false X Adam DuMoulin 6302765746 1151 E Warrenville Road Naperville IL 60566 Dayla L Randolph VICE CHAIRMAN 1.0 X X 0 0 0 JACK A GILBERT Chairman 1.0 X X 0 0 0 JOSEPH J KREGUL President/CEO 50.0 X X 611237 0 35934 KENNETH J ROJEK Past Chairman, Treasurer/Secretary 1.0 X X 0 0 0 Edward Holzhauer Director (Beginning Feb 2023) 1.0 X 0 0 0 James Marseille Director (Beginning Feb 2023) 1.0 X 0 0 0 KENNETH C ROBBINS Director 1.0 X 0 0 0 Lucy Zielinski Director 1.0 X 0 0 0 Terri L Allen Director (Through Feb 2023) 1.0 X 0 0 0 Vince D Keenan Director 1.0 X 0 0 0 WILLIAM J HUFF Director 1.0 X 0 0 0 JENNIFER Marie Albertalli SVP/Strategic Initiatives (Through July 2023) 50.0 X 151699 0 44815 TODD NIEDERMEIER SVP/COO 50.0 X 274957 0 78276 ADAM T DUMOULIN VP Accounting & Finance 50.0 X 180078 0 55336 ELIAN M CABAN VP Member Services 55.0 X 184828 0 22186 Jean Morris AVP Loan Operations 40.0 X 131872 0 36094 Jordan Csepregi VP Marketing 40.0 X 145278 0 15537 Michelle Sungren Analyst Team Manager 40.0 X 118190 0 12800 Nicholas Spalo Accounting Manager 40.0 X 105938 0 30674 Sheena Gigante AVP Sales, Service & Training 40.0 X 100367 0 46087 2004444 0 377739 10 false true false JACK HENRY & ASSOCIATES INC 663 W hwy 60 monett MO 65708 Core Data Processing System Services 1167891 MARQUIS SOFTWARE SOLUTIONS INC 5208 Tennyson Pkwy ste 120 Plano TX 75024 Marketing Digital and Automated Services 424433 Alkami Technology 5601 Granite Parkway Suite 120 Plano TX 75024 Website & Internet Banking Services 419196 VISA USA Inc 900 Metro Center Boulevard Foster City CA 94404 Plastic Card Brand and Network Services 351012 ILLINOIS HOSPITAL ASSOCIATION 37092 EAGLE WAY CHICAGO IL 606781370 HR Administration, Postage, and Supply Services 255560 10 0 Member Loans 522100 14892368 14892368 Share/Check Program 522100 2369714 2340314 29400 ATM/Debit Card Services 522100 1257013 1233797 23216 Credit Card Program 522100 820447 820447 Insurance Program 522100 286915 286915 0 0 0 0 19626457 4868399 4868399 0 0 0 0 NCUA Distributions 900099 100641 100641 Illinois Vehicle Registration Fees 561990 1305 1305 0 0 0 0 101946 24596802 19674482 53921 4868399 2954392 1639346 3615139 367167 827216 390870 7322 352255 794133 1112905 605277 701330 589179 165192 2142944 264868 92693 ATM/Internet Branch Expenses 1638975 LOAN EXPENSES 737084 Loan loss provision 1719751 455933 21173971 786198 976845 16617121 21618269 3635888 3582981 0 0 0 0 289917605 306279383 496318 501417 7207554 6612335 800780 595219 136269781 119549871 0 6798312 6726544 455322003 459830529 6982345 6957852 87842 64853 438372 481263 0 0 13500000 24700000 394379723 381278837 415388282 413482805 X 39933721 46347724 39933721 46347724 455322003 459830529 X 3422831 3307561 -316389 X false true X true false 0 5450 5450 true CUPAC 1807 W DIEHL RD NAPERVILLE IL 605667107 363092340 5450 0 Schedule C, Part I-A, Line 1 Description of Political Activities HEALTHCARE ASSOCIATES CREDIT UNION CONTRIBUTED INTO A PAC WITH CUPAC FOR THE CALENDAR YEAR. A SEPARATE FORM 1120-POL WAS FILED TO PAY THE REQUIRED TAX ON THIS AMOUNT. false true X 1826420 1563401 263019 3579466 3285021 294445 1801668 1763913 37755 595219 Government Federal Agency Securities 119549871 F 119549871 Members' Share Accounts 381278837 381278837 X 27904363 3307561 0 3307561 24596802 0 0 24596802 21173971 0 0 21173971 0 0 21173971 Schedule D, Part IV, Line 2b Explanation of escrow agreement Member's escrowed funds are held in a share account until escrow payments are disbursed. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The Credit Union is exempt, by statute, from federal and state income taxes. The Internal Revenue Service ("IRS") and certain state taxing authorities are evaluating what, if any, products and services provided by state chartered credit unions or their credit union service organizations are subject to unrelated business income tax ("UBIT"). There is currently very little guidance in the IRS Code on what activities should be subject to UBIT. The IRS has issued certain technical advice memorandums identifying certain activities as being subject to UBIT. As a result, at this time there is uncertainty regarding whether state chartered credit unions should pay income tax on certain types of net taxable income from activities that may be considered by taxing authorities as unrelated to the purpose for which credit unions were granted non-taxable status. In the opinion of management, any liability resulting from taxing authorities imposing income taxes on the net taxable income from activities deemed unrelated to the Credit Union's non-taxable status is not expected to have a material effect on financial position or results of operations. A tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. There was no accrual necessary at year-end 2023 and 2022. The Credit Union recognizes interest and/or penalties related to income tax matters in the operations section of the statement of income. The Credit Union paid $8 in UBIT in 2023, related to 2023 and 2022. No interest or penalties were incurred during 2023 and 2022. X X false true false JOSEPH J KREGUL President/CEO 360098 0 59278 0 191861 0 28050 0 7884 0 647171 0 0 0 TODD NIEDERMEIER SVP/COO 205064 0 20639 0 49254 0 44690 0 33586 0 353233 0 23140 0 JENNIFER Marie Albertalli SVP/Strategic Initiatives (Through July 2023) 91601 0 13471 0 46627 0 28616 0 16199 0 196514 0 16550 0 ADAM T DUMOULIN VP Accounting & Finance 161918 0 16800 0 1360 0 16076 0 39260 0 235414 0 0 0 ELIAN M CABAN VP Member Services 169016 0 13440 0 2372 0 7424 0 14762 0 207014 0 0 0 Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan THE FOLLOWING 457(F) CONTRIBUTIONS and payments, respectively, WERE MADE during 2023 and are included in the amounts reported on Schedule J, Part II, Columns B(iii), (C), or (F): TODD NIEDERMEIER: $22,933 / $23,140 JENNIFER MARIE ALBERTALLI: $16,838 / $16,550 JOSEPH J. KREGUL $0 / $154,879 Form 990, Part VI, Line 15b PROCESS USED TO ESTABLISH COMPENSATION FOR OTHER OFFICERS The President reviews and approves the compensation for other officers reported in Part VII. Salary comparisons are performed against other credit unions of similar size. This process is performed annually for the CEO and SVP and every 2-3 years for all other positions below SVP. The last third party review took place in 2023. Form 990, Part VI, Line 6 Classes of members or stockholders Healthcare Associates Credit Union is a member owned cooperative nonprofit organization governed by a board of directors. The board is comprised of active members of the credit union who are appointed by the membership through a democratic election process. Membership includes employees and their family members of the Illinois Hospital Association (IHA) and its subsidiaries, organizations that are members of the IHA and people residing or working in certain geographical limits of Cook and DuPage counties of Illinois. For all decisions outside the election of the board of directors, each member is given one vote to cast on the issue at hand. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body Members have the right to elect the board of directors of the organization. All voting on the election of directors shall be by ballot. Every member has the right to vote the number of shares they own for as many persons as there are directors to be elected. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders At any membership meeting, a majority of the members present may direct the board to consider policies proposed by the members, or reconsider any decision of the directors or committees. Furthermore, the members must approve of any consolidations or mergers. Form 990, Part VI, Line 11b Review of form 990 by governing body THE FORM 990 IS THOROUGHLY REVIEWED BY THE CFO AND THE CEO. EACH BOARD MEMBER RECEIVES A COPY OF THE RETURN FOR THEIR REVIEW, WITH ANY QUESTIONS ADDRESSED DURING A REGULARLY SCHEDULED BOARD MEETING, PRIOR TO FILING WITH THE IRS. Form 990, Part VI, Line 12c Conflict of interest policy Annually all interested persons, including the full governing body, sign a Statement of Disclosure of Conflicts of Interest questionnaire to disclose potential conflicts between themselves and the credit union. Internal management reviews the questionnaires and monitors and enforces compliance of this policy at its annual organizational meeting. If a conflict is present, the board member with the conflict abstains from voting on the particular issue in question. Form 990, Part VI, Line 19 Required documents available to the public Financial statements, governing documents, and conflict of interest policies are not required disclosures pursuant to Internal Revenue Code (IRC) Section 6104. These documents are not available to the public at this time. Form 990, Part XI, Line 9 Other changes in net assets or fund balances ASC 326 Adoption Adjustment - -316389; FORM 990, PART VI, LINE 15A PROCESS TO ESTABLISH COMPENSATION OF TOP MANAGEMENT OFFICIAL The CEO's Compensation is reviewed and approved by the Board of Directors on an annual basis. Every 2-3 years, compensation is reviewed by an independent 3rd party where salary is compared to other credit unions of similar size. Once the Board approves the compensation this decision is documented in the Board minutes. The last third party review took place in 2022.