2025-05-06T07:09:41-05:00 2024-12-31 350921680 CROWE LLP 575 MARKET STREET SUITE 3300 SAN FRANCISCO CA 941055829 990 2024-01-01 363047069 HEALTHCARE ASSOCIATES CREDIT UNION HEAL 6302765555 PO BOX 3053 NAPERVILLE IL 60566 JOSEPH KREGUL PRESIDENT/CEO 6302765555 2025-05-06 1 1 DIANE KIRMACI P01578407 4155761100 2025-05-06 2024 2025-03-06 01:10:19Z JOSEPH J KREGUL PO BOX 3053 NAPERVILLE IL 60566 28435417 0 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. 10 9 79 2 58463 4870 0 0 19626457 22054863 4868399 6367171 101946 13383 24596802 28435417 0 0 2954392 5346401 6839738 7172504 0 0 0 11379841 12534265 21173971 25053170 3422831 3382247 459830529 464792724 413482805 414130808 46347724 50661916 THE MISSION OF HEALTHCARE ASSOCIATES CREDIT UNION IS TO ENCOURAGE THRIFT AMONG ITS MEMBERS AND CREATE A SOURCE OF REASONABLE CREDIT. 0 0 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 0 1 0 0 0 0 1 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 10928 0 1 79 1 1 1 0 0 0 0 0 0 0 X 10 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 0 0 0 X ADAM DUMOULIN 6302765555 PO BOX 3053 NAPERVILLE IL 60566 JACK A GILBERT CHAIRMAN 1.00 X X 8000 0 0 DAYLA L RANDOLPH VICE CHAIRMAN 1.00 X X 0 0 0 KENNETH J ROJEK PAST CHAIRMAN, TREASURER/SECRETARY 1.00 X X 4000 0 0 WILLIAM J HUFF DIRECTOR 1.00 X 3400 0 0 VINCE D KEENAN DIRECTOR 1.00 X 4200 0 0 JAMES MARSEILLE DIRECTOR 1.00 X 4300 0 0 KENNETH C ROBBINS DIRECTOR 1.00 X 3700 0 0 LUCY ZIELINSKI DIRECTOR 1.00 X 3700 0 0 EDWARD HOLZHAUER DIRECTOR 1.00 X 0 0 0 JOSEPH J KREGUL PRESIDENT/CEO 50.00 X X 580428 0 59725 TODD NIEDERMEIER SVP/COO 50.00 X 288276 0 71516 ADAM T DUMOULIN SVP/CFO 50.00 X 211050 0 62299 JASON BADE VP INFORMATION TECHNOLOGY 50.00 X 208573 0 20237 ELIAN M CABAN VP MEMBER SERVICES 55.00 X 190696 0 24029 JORDAN CSEPREGI VP MARKETING 40.00 X 189335 0 20433 JANETTE KEO VP BUSINESS DEVELOPMENT 40.00 X 122082 0 49647 JEAN MORRIS VP LENDING 40.00 X 135729 0 37851 SHEENA GIGANTE AVP SALES, SERVICE & TRAINING 40.00 X 111248 0 10832 NICHOLAS SPALO ACCOUNTING MANAGER 40.00 X 111328 0 32782 MICHELLE SUNGREN ANALYST TEAM MANAGER 40.00 X 130098 0 13976 2310143 0 403327 11 0 1 0 JACK HENRY & ASSOCIATES INC 663 W HWY 60 MONETT MO 65708 CORE DATA PROCESSING SYSTEM SERVICES 1297183 BDO DIGITAL PO BOX 642743 PITTSBURGH PA 152642743 IT INFRASTRUCTURE UPGRADES 540792 ALKAMI TECHNOLOGY 5601 GRANTITE PARKWAY STE 120 PLANO TX 75024 WEBSITE AND INTERNET BANKING SERVICES 437411 MARQUIS SOFTWARE SOLUTIONS INC 5208 TENNYSON PKWY STE 120 PLANO TX 75024 MARKETING DIGITAL AND AUTOMATED SERVICES 354442 VISA USA INC 900 METRO CENTER BOULEVARD FOSTER CITY CA 94404 PLASTIC CARD BRAND AND NETWORK SERVICES 339560 15 MEMBER LOANS 522100 17463432 17463432 SHARE/CHECK PROGRAM 522100 2396844 2361773 35071 ATM/DEBIT CARD SERVICES 522100 1151642 1129861 21781 CREDIT CARD PROGRAM 522100 805572 805572 INSURANCE PROGRAM 522100 237373 237373 22054863 5414910 5414910 952261 0 952261 952261 952261 SALLIE MAE REFERRAL FEES 900099 11772 11772 ILLINOIS VEHICLE REGISTRATION FEE 561990 1611 1611 13383 28435417 22009783 58463 6367171 5346401 1957898 3515737 371636 919687 407546 59737 235815 1431019 1097769 610251 877898 703817 209329 2243601 325685 94180 ATM/INTERNET BRANCH EXP 1718805 LOAN LOSS PROVISION 1667180 LOAN EXPENSES 701962 557217 25053170 976845 744725 21618269 20795537 3582981 5259499 306279383 321149310 501417 287134 7702687 6937576 595219 765111 119549871 105043388 6726544 10748020 459830529 464792724 6957852 9124618 64853 41865 481263 596186 24700000 10000000 381278837 394368139 413482805 414130808 X 0 0 0 0 46347724 50661916 46347724 50661916 459830529 464792724 3382247 931945 0 X 0 1 X 1 0 0 6970 6970 1 CUPAC 1807 W DIEHL RD NAPERVILLE IL 605667107 363092340 6970 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 SEPERATE FORM 1120-POL WAS FILED TO PAY THE REQUIRED TAX ON THE AMOUNT. 0 1 X 1826420 1638942 187478 4067044 3523669 543375 1809223 1774965 34258 765111 GOVERNMENT FEDERAL AGENCY SECURITIES 105043388 F 105043388 MEMBERS' SHARE ACCOUNTS 394368139 394368139 X 29367362 931945 931945 28435417 0 28435417 25053170 0 25053170 0 25053170 PART IV, LINE 2B: MEMBERS' ESCROWED FUNDS ARE HELD IN A SHARE ACCOUNT UNTIL ESCROW PAYMENTS ARE DISBURSED. PART X, LINE 2: 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 2024 AND 2023. 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 $4 IN UBIT IN 2024 AND $8 IN 2023. NO INTEREST OR PENALTIES WERE INCURRED DURING 2024 AND 2023. X X 0 1 0 JOSEPH J KREGUL PRESIDENT/CEO 370190 0 51440 0 158798 0 29325 0 30400 0 640153 0 0 0 TODD NIEDERMEIER SVP/COO 214295 0 16695 0 57286 0 45934 0 25582 0 359792 0 30672 0 ADAM T DUMOULIN SVP/CFO 195758 0 14000 0 1292 0 18811 0 43488 0 273349 0 0 0 JASON BADE VP INFORMATION TECHNOLOGY 193981 0 13300 0 1292 0 8390 0 11847 0 228810 0 0 0 ELIAN M CABAN VP MEMBER SERVICES 177841 0 10483 0 2372 0 7674 0 16355 0 214725 0 0 0 JORDAN CSEPREGI VP MARKETING 173897 0 14850 0 588 0 16111 0 4322 0 209768 0 0 0 JEAN MORRIS VP LENDING 126403 0 6500 0 2826 0 11877 0 25974 0 173580 0 0 0 JANETTE KEO VP BUSINESS DEVELOPMENT 121588 0 0 0 494 0 11524 0 38123 0 171729 0 0 0 PART I, LINE 4B THE FOLLOWING 457(F) CONTRIBUTIONS AND PAYMENTS, RESPECTIVELY, WERE MADE DURING 2024 AND ARE INCLUDED IN THE AMOUNTS REPORTED ON SCHEDULE J, PART II, COLUMNS B(III), (C), OR (F): TODD NIEDERMEIER: $23,850 / $30,672 JOSEPH J. KREGUL $0 / $122,816 FORM 990, PART VI, SECTION A, LINE 6 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, SECTION A, LINE 7A 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, SECTION A, LINE 7B 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, SECTION B, LINE 11B 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, SECTION B, LINE 12C 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, SECTION C, LINE 19 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 VI SECTION B, LINE 15A: 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 2023. FORM 990, PART VI SECTION B, LINE 15B: 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.