2024-09-19T10:04:14-05:00 2023-12-31 420714325 RSM US LLP 4650 EAST 53RD STREET DAVENPORT IA 528073479 990 2023-01-01 421132695 VERIDIAN CREDIT UNION VERI 3192365600 1827 ANSBOROUGH AVENUE WATERLOO IA 507013629 KEITH J MESCH CHIEF FINANCIAL OFFICER 3192365600 2024-09-11 1 0 JENIFER L CHASE P01306883 5638884000 2024-09-11 2023 2024-08-08 14:25:15Z KEITH J MESCH 1827 ANSBOROUGH AVENUE WATERLOO IA 507013629 440456852 0 X WWW.VERIDIANCU.ORG X 1934 IA TO PROVIDE A VARIETY OF LOW OR NO COST SERVICES, LOW LOAN RATES, AND HIGHER SAVINGS RATES TO OUR MEMBERS, AND TO FULFILL OUR PHILOSOPHY OF "PEOPLE HELPING PEOPLE" BY PARTNERING WITH OUR MEMBERS TO CREATE SUCCESSFUL FINANCIAL FUTURES. OUR CURRENT FIELD OF MEMBERSHIP IS THE STATE OF IOWA, 6 COUNTIES IN EASTERN NEBRASKA, AND 8 COUNTIES AROUND THE MINNEAPOLIS-ST PAUL METRO IN MINNESOTA. 14 14 1185 16 937955 542973 0 0 264645379 330011844 -968683 17902892 44659522 45861320 308336218 393776056 722807 806078 0 0 81667303 84792628 0 0 0 126320030 234920865 208710140 320519571 99626078 73256485 6898328206 7452103478 6199642396 6703828522 698685810 748274956 X TO PROVIDE A VARIETY OF LOW OR NO COST SERVICES, LOW LOAN RATES, AND HIGHER SAVINGS RATES TO OUR MEMBERS, AND TO FULFILL OUR PHILOSOPHY OF "PEOPLE HELPING PEOPLE" BY PARTNERING WITH OUR MEMBERS TO CREATE SUCCESSFUL FINANCIAL FUTURES. OUR CURRENT FIELD OF MEMBERSHIP IS THE STATE OF IOWA, 6 COUNTIES IN EASTERN NEBRASKA, AND 8 COUNTIES AROUND THE MINNEAPOLIS-ST PAUL METRO IN MINNESOTA. 0 0 VERIDIAN CREDIT UNION SERVED APPROXIMATELY 332,784 MEMBERS AT OUR CONVENIENT BRANCH LOCATIONS. VERIDIAN CREDIT UNION ADDED 44,177 NEW MEMBERSHIPS IN 2023. TOTAL LOANS AND DEPOSITS AT 12/31/2023 WERE $6,311,349,649 AND $6,180,418,267 RESPECTIVELY. 0 0 0 0 0 0 0 1 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 1 0 0 0 0 0 0 1 1 1 0 1 288019 0 1 1185 1 1 1 0 0 0 0 0 1 0 X 14 14 1 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X KEITH J MESCH 3192366774 1827 ANSBOROUGH AVENUE WATERLOO IA 507013629 STEPHANIE ATKIN BOARD OF DIRECTOR 6.00 X 870 0 0 PAMELA AYRES BOARD OF DIRECTOR 6.00 X 2033 0 0 WILLIAM BOEVERS BOARD OF DIRECTOR 6.00 X 4949 0 0 CYNTHIA BUETTNER BOARD OF DIRECTOR 6.00 X 864 0 0 JAMES KACHER BOARD OF DIRECTOR 6.00 X 836 0 0 BOB KRESSIG BOARD OF DIRECTOR 6.00 X 0 0 0 TRACI MCBEE BOARD OF DIRECTOR 6.00 X 1184 0 0 JUSTINE PEEBLES BOARD OF DIRECTOR 6.00 X 0 0 0 GINGER SHIRLEY FORMER BOARD OF DIRECTOR 6.00 X 0 0 0 CINDY SPROLE BOARD OF DIRECTOR 6.00 X 179 0 0 CRESTON VAN WEY FORMER BOARD OF DIRECTOR 6.00 X 0 0 0 AUBREY WARD BOARD OF DIRECTOR 6.00 X 7159 0 0 NICK WATERS BOARD OF DIRECTOR 6.00 X 0 0 0 EMSAD BEGIC BOARD OF DIRECTOR 6.00 X 1025 0 0 LARRY LOSS BOARD OF DIRECTOR 6.00 X 1089 0 0 JUSTINE TEUT BOARD OF DIRECTOR 6.00 X 11973 0 0 DOUGLAS GILBERTSON FORMER CHIEF OPERATIONS OFFICER 50.00 X 717384 0 60954 RENEE CHRISTOFFER PRESIDENT/CEO 50.00 X 1089271 0 288421 KEITH MESCH CHIEF FINANCIAL OFFICER 50.00 X 501320 0 178260 CHRISTOPHER MCGOVERN MANAGER OF MORTGAGE LENDING 50.00 X 165163 0 30690 BRETT ENGSTROM CHIEF INFORMATION OFFICER 50.00 X 382418 0 141862 MARK KOPPEDRYER CHIEF EXPERIENCE OFFICER 50.00 X 330839 0 120780 SHAWNA MATZ CHIEF PEOPLE OFFICER 50.00 X 323869 0 116873 KARA VANWERT CHIEF LENDING OFFICER 50.00 X 317559 0 106952 CHRISTI HULME VP OF MEMBER CONTACT CENTER 50.00 X 226943 0 76457 GREGORY SLESSOR SENIOR VP OF LEGAL 50.00 X 350109 0 114847 STEVEN LINDAMAN VP OF COMMERCIAL AND MORTGAGE 50.00 X 221068 0 75688 KELLY MANGRICH VP OF PAYMENT SYSTEMS 50.00 X 223272 0 64135 MOLLY SCHMIDT VP OF INFORMATION TECHNOLOGY 50.00 X 203678 0 82998 RANDY HESIAK VP OF INDIRECT LENDING 50.00 X 167942 0 57202 SEAN MIGLINI SENIOR COMMERCIAL RELATIONSHIP MANAGER 50.00 X 202530 0 54295 MICHAEL STEFFEN VP OF DIGITAL 50.00 X 204800 0 63746 SARAH ELAINE CORKERY VP OF MARKETING 50.00 X 246763 0 59897 EMILY L KUNTZ VP - CONTROLLER 50.00 X 233254 0 83609 ELIZABETH MEEHAN VP OF TALENT DEVELOPMENT 50.00 X 187941 0 70649 6328284 0 1848315 89 0 1 0 FISERV INC 75 REMITTANCE DR SUITE 1649 CHICAGO IL 60675 DATA PROCESSING 4066693 LANVERA LTD 112 WRANGLER DR 150 COPPELL TX 75019 DOCUMENT OUTSOURCING 3221192 PRIMUS 401 8TH AVE SE CEDAR RAPIDS IA 52401 OFFICE CONSTRUCTION 3186245 ALKAMI TECHNOLOGY INC 5601 GRANITE PKWY 120 PLANO TX 75024 DATA PROCESSING 3179619 FLYNN WRIGHT 1408 LOCUST STREET DES MOINES IA 50309 ADVERTISING AGENCY 3021372 105 INTEREST INCOME - LOANS TO MEMBER 522100 298999932 298999932 FEES AND CHARGES 522100 12157516 12157516 INTEREST INCOME - MEMBER INVESTME 522100 9800823 9800823 SALE OF SERVICES 522100 4660255 4025941 634314 ATM - POINT OF SALE 522100 4393318 4089677 303641 330011844 12109138 12109138 314341 614378 -300037 -300037 -300037 49605125 2255047 45302973 763445 4302152 1491602 5793754 5793754 VISA INTERCHANGE 522100 32880484 32880484 OVERDRAFT/NSF FEES 522100 10536540 10536540 MISCELLANEOUS INCOME 900099 2744333 2744333 46161357 393776056 375235246 937955 17602855 806078 6736953 39138 54430540 8102615 11275020 4208362 417227 450408 170899 1681798 4897162 7535837 5325469 7189353 351958 555758 139535836 5147945 UNRELATED BUSINESS TAXE 214992 PROVISION FOR LOAN LOSS 28432333 LOAN SERVICING 15470689 PAYMENT SYSTEMS 9770367 7772834 320519571 30750771 29427460 94073340 480981963 51794377 49131569 92859 16123182 6130571799 6251403836 8857812 9769918 143247526 54753674 80484441 88493852 437522363 450460960 0 14510789 64180444 61799949 6898328206 7452103478 85479877 94457350 818786 8602181 15497919 15597812 629597370 410083005 5468248444 6175088174 6199642396 6703828522 X 0 0 0 0 698685810 748274956 698685810 748274956 6898328206 7452103478 X 73256485 18860290 -42527629 X X 0 1 X 1 0 0 1 X 22026674 22026674 72520249 22965942 49554307 3397749 1601743 1796006 40358241 30185989 10172252 4944613 4944613 88493852 BONDS - AVAILABLE FOR SALE 214125803 F CORPORATE CREDIT UNIONS 35150000 C CERTIFICATES OF DEPOSIT 12880000 C FHLB OF DES MOINES 22726700 C FCT ACCOUNT 114603364 F CUSO & EQUITY INVESTMENTS 22202036 C CHARITABLE DONATION ACCOUNT 14397322 C ABS CERTIFICATE 14375735 F 450460960 SHARE SAVINGS 1161024112 SHARE DRAFT 1170963148 MONEY MARKET 690286193 CERTIFICATES 2891340790 IRA 258687497 OPERATING LEASE LIABILITIES 1485664 EXECUTIVE RETENTION 1300770 6175088174 X PART IV, LINE 2B: VERIDIAN CREDIT UNION COLLECTS AMOUNTS FROM MEMBERS WITH REAL ESTATE LOANS EACH MONTH VIA THEIR CONTRACTUAL PAYMENT SCHEDULE. THESE FUNDS ARE HELD IN ESCROW UNTIL THEY NEED TO BE DISBURSED IN ACCORDANCE WITH THE ESCROW INSTRUCTIONS FOR EACH MEMBER. AMOUNTS HELD IN ESCROW ARE FOR PROPERTY TAXES AND HOMEOWNER'S INSURANCE. PART X, LINE 2: VERIDIAN CREDIT UNION (THE CREDIT UNION) IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(14) OF THE INTERNAL REVENUE CODE AND SECTION 122 OF THE CREDIT UNION ACT. THE CREDIT UNION'S CUSO SUBSIDIARY, HOWEVER, IS SUBJECT TO STATE AND FEDERAL INCOME TAXES. AT DECEMBER 31, 2023 AND 2022, THE SUBSIDIARY'S ACCRUED INCOME TAX RECEIVABLE WAS $42,985 AND $115,928, RESPECTIVELY, WHICH IS INCLUDED IN OTHER ASSETS ON THE CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION. 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 UPON EXAMINATION BY TAXING AUTHORITIES, BASED ON TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE BEING 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 DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. THIS STANDARD DID NOT HAVE AN IMPACT ON THE CONSOLIDATED FINANCIAL STATEMENTS AND THE CREDIT UNION BELIEVES IT DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS. THE CREDIT UNION RECOGNIZES INTEREST AND PENALTIES ON INCOME TAXES AS A COMPONENT OF INCOME TAX EXPENSE. 1 IOWA CREDIT UNION LEAGUE PO BOX 8467 DES MOINES IA 50301 830494970 501(C)(6) 105506 0 MEMBER ENGAGEMENT OPERATION THRESHOLD 1535 LAFAYETTE ST WATERLOO IA 50703 420982549 501(C)(3) 100000 0 IDA FUNDING COMMUNITY FOUNDATION OF NORTHEAST IOWA 3117 GREENHILL CIRCLE CEDAR FALLS IA 50613 426060414 501(C)(3) 90000 0 GRANTS AND ONE CEDAR VALLEY FUND GROW CEDAR VALLEY 360 WESTFIELD AVE SUITE 200 WATERLOO IA 50701 421241941 501(C)(6) 37500 0 ECONOMIC DEVELOPMENT UNITED WAY OF CENTRAL IOWA 1111 9TH ST SUITE 1000 DES MOINES IA 50314 420680425 501(C)(3) 32000 0 GENERAL SUPPORT CEDAR VALLEY UNITED WAY 425 CEDAR STREET SUITE 300 WATERLOO IA 50701 420801846 501(C)(3) 29000 0 GENERAL SUPPORT IOWA HEARTLAND HABITAT FOR HUMANITY 803 W 5TH ST WATERLOO IA 50702 421350378 501(C)(3) 15000 0 HOUSING SUPPORT - WOMEN'S BUILD/BLUEPRINTS UNITED WAY OF THE MIDLANDS 2201 FARNUM ST SUITE 200 OMAHA NE 68102 470922285 501(C)(3) 13500 0 GENERAL SUPPORT UNIVERSITY OF NORTHERN IOWA FOUNDATION 1227 W 27TH ST CEDAR FALLS IA 50614 426058591 501(C)(3) 10000 0 FINANCIAL LITERACY WATERLOO CAREER ACADEMY - WATERLOO SCHOOL DISTRICT 1350 KATOSKI DR WATERLOO IA 50701 426003910 CITY OF WATERLOO 10000 0 WATERLOO CAREER CENTER ONE IOWA 950 OFFICE PARK RD SUITE 240 WEST DES MOINES IA 50265 721613927 501(C)(3) 10000 0 WORKPLACE CULTURE SUMMIT, GALA EVENT SPONSORSHIP LEADER VALLEY FOUNDATION 360 WESTFIELD AVE SUITE 200 WATERLOO IA 50701 453120883 501(C)(3) 10000 0 LEADER IN ME IOWA CREDIT UNION FOUNDATION 7745 OFFICE PLAZA DR N SUITE 170 WEST DES MOINES IA 50266 421438113 501(C)(3) 10000 0 GENERAL SUPPORT GREATER DES MOINES PARTNERSHIP 700 LOCUST ST SUITE 100 DES MOINES IA 50309 421489668 501(C)(3) 10000 0 ECONOMIC DEVELOPMENT DMPS COMMUNITY STADIUM PROJECT 2507 UNIVERSITY AVE DES MOINES IA 503114505 420680460 501(C)(3) 10000 0 CAPITAL CAMPAIGN IOWA GIVING CREW 164 W WILLIAMS DR MARION IA 52302 834445106 501(C)(3) 10000 0 VERIDIAN GIVES BACK DONATION UNITED WAY OF EAST CENTRAL IOWA 317 7TH AVE SE NO 401 CEDAR RAPIDS IA 52401 420861239 501(C)(3) 8700 0 GENERAL SUPPORT UNIVERSITY OF NORTHERN IOWA FOUNDATION 1227 W 27TH ST CEDAR FALLS IA 50614 426058591 501(C)(3) 6947 0 COMMUNITY ENGAGEMENT OELWEIN EVENT CORPORATION 6 S FREDERICK OELWEIN IA 50662 872687887 501(C)(3) 6250 0 CAPITAL CAMPAIGN UNITED WAY OF OELWEININDY PO BOX 547 OELWEIN IA 50662 421225224 501(C)(3) 6000 0 GENERAL SUPPORT CEDAR RAPIDS METRO ECONOMIC ALLIANCE 501 1ST STREET SE CEDAR RAPIDS IA 52401 420172900 501(C)(3) 6000 0 ECONOMIC DEVELOPMENT CITY OF WAVERLY 200 1ST ST NE WAVERLY IA 50677 426005344 CITY OF WAVERLY 5500 0 ECONOMIC DEVELOPMENT BUCHANAN COUNTY ECONOMIC DEVELOPMENT PO BOX 109 INDEPENDENCE IA 50644 421141695 501(C)(3) 5150 0 ECONOMIC DEVELOPMENT 21 2 PART I, LINE 2: VERIDIAN CREDIT UNION ISSUES FUNDS TO BE USED AT THE RECIPIENT'S DISCRETION. X 1 1 X X X X 0 1 0 RENEE CHRISTOFFER PRESIDENT/CEO 729671 0 176175 0 183425 0 269723 0 18698 0 1377692 0 148102 0 DOUGLAS GILBERTSON FORMER CHIEF OPERATIONS OFFICER 591300 0 100020 0 26064 0 49500 0 11454 0 778338 0 0 0 KEITH MESCH CHIEF FINANCIAL OFFICER 329390 0 72594 0 99336 0 154857 0 23403 0 679580 0 74514 0 BRETT ENGSTROM CHIEF INFORMATION OFFICER 269289 0 55888 0 57241 0 118988 0 22874 0 524280 0 55999 0 GREGORY SLESSOR SENIOR VP OF LEGAL 272456 0 39277 0 38376 0 85306 0 29541 0 464956 0 37746 0 MARK KOPPEDRYER CHIEF EXPERIENCE OFFICER 259917 0 35489 0 35433 0 90754 0 30026 0 451619 0 34803 0 SHAWNA MATZ CHIEF PEOPLE OFFICER 219320 0 48279 0 56270 0 103011 0 13862 0 440742 0 33140 0 KARA VANWERT CHIEF LENDING OFFICER 240815 0 33957 0 42787 0 90305 0 16647 0 424511 0 29831 0 EMILY L KUNTZ VP - CONTROLLER 180965 0 27991 0 24298 0 59625 0 23984 0 316863 0 0 0 SARAH ELAINE CORKERY VP OF MARKETING 196771 0 25657 0 24335 0 33904 0 25993 0 306660 0 24013 0 CHRISTI HULME VP OF MEMBER CONTACT CENTER 167263 0 24944 0 34736 0 52342 0 24115 0 303400 0 26104 0 STEVEN LINDAMAN VP OF COMMERCIAL AND MORTGAGE 207709 0 12377 0 982 0 54731 0 20957 0 296756 0 0 0 KELLY MANGRICH VP OF PAYMENT SYSTEMS 170642 0 24663 0 27967 0 53087 0 11048 0 287407 0 26434 0 MOLLY SCHMIDT VP OF INFORMATION TECHNOLOGY 170053 0 23962 0 9663 0 53401 0 29597 0 286676 0 9128 0 MICHAEL STEFFEN VP OF DIGITAL 150453 0 23963 0 30384 0 52524 0 11222 0 268546 0 8402 0 ELIZABETH MEEHAN VP OF TALENT DEVELOPMENT 165350 0 22296 0 295 0 48443 0 22206 0 258590 0 0 0 SEAN MIGLINI SENIOR COMMERCIAL RELATIONSHIP MANAG 188618 0 13321 0 591 0 29354 0 24941 0 256825 0 0 0 RANDY HESIAK VP OF INDIRECT LENDING 127070 0 16235 0 24637 0 31096 0 26106 0 225144 0 0 0 CHRISTOPHER MCGOVERN MANAGER OF MORTGAGE LENDING 136676 0 27857 0 630 0 22907 0 7783 0 195853 0 0 0 PART I, LINE 1A IN TAX YEAR 2023, VERIDIAN CREDIT UNION REIMBURSED TRAVEL EXPENSES INCURRED RELATED TO INDUSTRY CONFERENCES FOR THE COMPANIONS OF WILLIAM BOEVERS, JUSTINE TEUT, AUBREY WARD, LARRY LOSS, STEPHANIE ATKIN, PAMELA AYRES, EMSAD BEGIC, CYNTHIA BUETTNER, CINDY SPROLE, AND JAMES KACHER. THE AMOUNTS ARE INCLUDED IN REPORTABLE COMPENSATION IN PART VII AND SCHEDULE J. PART I, LINE 4B THE FOLLOWING INDIVIDUALS PARTICIPATED IN A NONQUALIFIED DEFERRED COMPENSATION PLAN IN 2023: RENEE CHRISTOFFER - $220,447 KEITH MESCH - $104,807 BRETT ENGSTROM - $78,025 SHAWNA MATZ - $68,801 MARK KOPPEDRYER - $53,320 KARA VANWERT - $51,176 SARAH ELAINE CORKERY - $13,478 KELLY MANGRICH - $25,965 GREGORY SLESSOR - $41,804 CHRISTI HULME - $26,573 MICHAEL STEFFEN - $25,663 MOLLY SCHMIDT - $26,002 EMILY L KUNTZ - $29,869 ELIZABETH MEEHAN - $24,188 STEVEN LINDAMAN - $25,868 RANDY HESIAK - $8,842 THE DOLLAR AMOUNT REPRESENTS THE CURRENT YEAR CONTRIBUTION CREDITS MADE BY VERIDIAN CREDIT UNION ON BEHALF OF THE INDIVIDUALS TO THE PLAN IN 2023. THIS INFORMATION IS INCLUDED IN DEFERRED COMPENSATION ON THE FORM 990, PART VII AND SCHEDULE J, PART II. SHAWNA MATZ OFFICER CERTIFICATE SECURED X 27271 25560 0 1 1 KARA VANWERT OFFICER INDIRECT NEW AUTO LOAN X 45637 15000 0 1 1 RENEE CHRISTOFFER OFFICER COLLATERAL ASSIGNED SPLIT DOLLAR LIFE INSURANCE POLICY X 12649945 13083838 0 1 1 SHAWNA MATZ OFFICER COLLATERAL ASSIGNED SPLIT DOLLAR LIFE INSURANCE POLICY X 2339500 2379842 0 1 1 KARA VANWERT OFFICER MORTGAGE X 228500 207000 0 1 1 CHRISTI HULME KEY EMPLOYEE HELOC X 180000 165386 0 1 1 CHRISTI HULME KEY EMPLOYEE INDIRECT NEW AUTO LOAN X 30779 26949 0 1 1 CHRISTI HULME KEY EMPLOYEE SHARE SECURED X 4650 4650 0 1 1 STEVEN LINDAMAN KEY EMPLOYEE HELOC X 50000 35139 0 1 1 KELLY MANGRICH KEY EMPLOYEE HELOC X 46000 34767 0 1 1 MOLLY SCHMIDT KEY EMPLOYEE INDIRECT NEW AUTO LOAN X 36672 5460 0 1 1 MOLLY SCHMIDT KEY EMPLOYEE INDIRECT USED AUTO LOAN X 88265 62134 0 1 1 MOLLY SCHMIDT KEY EMPLOYEE DIRECT USED AUTO LOAN X 10000 9566 0 1 1 MICHEAL STEFFEN KEY EMPLOYEE HELOC X 65000 58806 0 1 1 CHRISTI HULME KEY EMPLOYEE SHARE SECURED X 10000 9085 0 1 1 16123182 HANNAH MESCH FAMILY MEMBER OF OFFICER 39138 COMPENSATION 0 FORM 990, PART VI, SECTION A, LINE 2 DOUG GILBERTSON AND LYNN GILBERTSON HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 6 VERIDIAN CREDIT UNION IS A NOT-FOR-PROFIT FINANCIAL COOPERATIVE THAT IS OWNED BY ITS MEMBERS. VERIDIAN CREDIT UNION MEMBERSHIP IS OPEN TO PERSONS LIVING OR WORKING IN IOWA, 6 EASTERN COUNTIES IN NEBRASKA, AND 8 COUNTIES AROUND THE MINNEAPOLIS-ST PAUL METRO IN MINNESOTA. EMPLOYEES OF THE CREDIT UNION'S BUSINESS PARTNERS ARE ALSO ELIGIBLE FOR VERIDIAN CREDIT UNION MEMBERSHIP. MEMBERSHIP ELIGIBILITY IS ALSO OPEN TO ANYONE WHO MAKES A MINIMUM $5 DONATION TO HABITAT FOR HUMANITY. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER OF VERIDIAN CREDIT UNION IS AN EQUAL OWNER OF THE CREDIT UNION. EACH MEMBER HAS ONE VOTE IN THE ELECTION OF THE BOARD OF DIRECTORS, REGARDLESS OF HOW MUCH MONEY THEY HAVE IN DEPOSITS. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING TYPES OF DECISIONS OF THE GOVERNING BODY OF VERIDIAN CREDIT UNION ARE SUBJECT TO APPROVAL BY ITS MEMBERS: CHANGE IN ARTICLES OF INCORPORATION, MERGER, CHANGE TO THE CREDIT UNION BY-LAWS, CHANGE IN CHARTER STATUS, ELECTION/REMOVAL OF MEMBERS OF THE BOARD, AND DISSOLUTION OF THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 8B VERIDIAN CREDIT UNION DOES NOT HAVE COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 AND ALL THE REQUIRED SCHEDULES ARE REVIEWED EACH YEAR BY THE VP-CONTROLLER. AFTER THE VP-CONTROLLER HAS COMPLETED THEIR REVIEW, THE CHIEF FINANCIAL OFFICER, KEITH MESCH, THEN REVIEWS THE FORM 990 AND ALL REQUIRED SCHEDULES. AMOUNTS REPORTED ON THE 990 ARE SUPPORTED WITH VARIOUS WORK PAPERS CONTAINING INFORMATION OBTAINED FROM THE GENERAL LEDGER ACCOUNTING SOFTWARE AND PAYROLL PROCESSOR. THE VP-CONTROLLER REVIEWS ALL WORK PAPERS TO ENSURE AMOUNTS REPORTED ON THE FORM 990 ARE PROPER. AFTER THE REVIEW, ANY QUESTIONS OR COMMENTS ARE SUBMITTED TO THE PREPARER FOR RESPONSES, AND THEN ANOTHER REVIEW OF THOSE ITEMS IS COMPLETED UNTIL ALL QUESTIONS AND COMMENTS ARE RESOLVED. THE COMPLETED FORM 990 WILL BE POSTED TO VERIDIAN'S BOARD EXTRANET FOR THE BOARD MEMBERS TO REVIEW PRIOR TO ELECTRONIC FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C VERIDIAN CREDIT UNION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY AS FOLLOWS: THE VERIDIAN CONFLICT OF INTEREST POLICY REQUIRES ANNUAL DISCLOSURE STATEMENTS TO BE SIGNED BY THE BOARD OF DIRECTORS AND SUBMITTED TO THE CHIEF FINANCIAL OFFICER OR BOARD CHAIR WITHIN 30 DAYS OF JANUARY 1 OF EACH YEAR. ANY APPARENT CONFLICT OF INTEREST SHALL BE RESOLVED BY THE CHIEF FINANCIAL OFFICER AND/OR AUDIT COMMITTEE WITH THE INDIVIDUAL. THE INTERNAL AUDIT STAFF OVERSEE THIS BOARD POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS OF DETERMINING COMPENSATION FOR ALL EMPLOYEES OF THE CREDIT UNION, INCLUDING THE CHIEF EXECUTIVE OFFICER AND OTHER KEY EMPLOYEES IS AS FOLLOWS: AN OUTSIDE, THIRD PARTY CONSULTANT IS ENGAGED TO HELP DETERMINE THE PAY SCALE AND MERIT INCREASES. THE CONSULTANTS PERFORM MARKET SURVEYS EACH YEAR FOR EACH OF OUR REGIONS TO DETERMINE IF ANY CHANGES NEED TO BE MADE TO THE PAY RANGES. VERIDIAN CREDIT UNION'S BOARD OF DIRECTORS APPROVE THE RANGE ADJUSTMENTS. THIS PROCESS WAS LAST COMPLETED IN THE 4TH QUARTER OF 2023. FORM 990, PART VI, SECTION C, LINE 19 VERIDIAN CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FINANCIAL STATEMENTS ARE POSTED MONTHLY AT ALL BRANCH LOCATIONS. FORM 990, PART XI, LINE 9: CHANGE IN FUNDED STATUS OF RETIREMENT PLAN -3,506,053. CURRENT EXPECTED CREDIT LOSS IMPLEMENTATION ADJUSTMENT -39,021,576. FORM 990, PART XII, LINE 2C: THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR TAX YEAR. VERIDIAN FISCAL SOLUTIONS LLC 1827 ANSBOROUGH AVENUE WATERLOO IA 50701 471135117 PAYROLL SERVICES IA 916365 62915466 THE VERIDIAN GROUP INC MEMBERS INSURANCE SERVICES LLC 1827 ANSBOROUGH AVENUE WATERLOO IA 50701 421277528 INSURANCE SERVICES IA 434480 2432187 MEMBERS INSURANCE INC THE VERIDIAN GROUP 1827 ANSBOROUGH AVE WATERLOO IA 50701 421263291 INSURANCE AND PAYROLL PROCESSING IA VERIDIAN CREDIT UNION C 1355882 7432594 1.00000 1 MEMBERS INSURANCE INC 1827 ANSBOROUGH AVE WATERLOO IA 50701 421277528 HOLDING COMPANY IA N/A C 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 THE VERIDIAN GROUP INC A 91678 FAIR MARKET VALUE THE VERIDIAN GROUP INC L 331178 FAIR MARKET VALUE