ABBOTT LABORATORIES EMPLOYER CREDIT UNION: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- ABBOTT LABORATORIES EMPLOYER CREDIT UNION (EIN 36-3679911)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-10-31
- IRS object ID
- 202313049349301756
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-10-31T11:21:33-05:00 | ReturnTs |
| Tax Period End | 2022-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 410746749 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CLIFTONLARSONALLEN LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 20 EAST THOMAS ROAD SUITE 2300 | AddressLine1Txt |
| City | PHOENIX | CityNm |
| State Abbreviation | AZ | StateAbbreviationCd |
| ZIP | 85012 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 363679911 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ABBOTT LABORATORIES EMPLOYEES | BusinessNameLine1Txt |
| Business Name Line2 | CREDIT UNION (ALEC) | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | ABBO | BusinessNameControlTxt |
| Phone | 8472499431 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 325 TRI-STATE PARKWAY | AddressLine1Txt |
| City | GURNEE | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 60031 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JOSEPH TROSCLAIR | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 8472499431 | PhoneNum |
| Signature | 2023-10-27 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | JOSEPH | PersonFirstNm |
| Person Last | TROSCLAIR | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | MELISSA HANGSLEBEN | PreparerPersonNm |
| PTIN | P02087031 | PTIN |
| Phone | 6022662248 | PhoneNum |
| Preparation | 2023-10-27 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | Yes (X) | AddressChangeInd |
| Principal Officer | JOSEPH TROSCLAIR | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 325 TRI-STATE PARKWAY | AddressLine1Txt |
| City | GURNEE | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 60031 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $31,220,940 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.ALECU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1990 | FormationYr |
| Legal Domicile State | IL | LegalDomicileStateCd |
| Activity Or Mission | TO MAKE A DIFFERENCE IN THE LIVES AND FINANCIAL WELL-BEING OF OUR MEMBERS AND EMPLOYEES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 8 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 105 | TotalEmployeeCnt |
| Total Volunteers | 7 | TotalVolunteersCnt |
| Total Gross UBI | $96,492 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $50,220 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $21,717,581 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $23,216,472 | CYProgramServiceRevenueAmt |
| PY Investment Income | $4,425,385 | PYInvestmentIncomeAmt |
| CY Investment Income | $7,428,700 | CYInvestmentIncomeAmt |
| PY Other Revenue | $1,474,192 | PYOtherRevenueAmt |
| CY Other Revenue | $575,768 | CYOtherRevenueAmt |
| PY Total Revenue | $27,617,158 | PYTotalRevenueAmt |
| CY Total Revenue | $31,220,940 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $32,491 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $3,411,096 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $4,266,848 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $10,204,740 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $10,146,245 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $8,116,689 | PYOtherExpensesAmt |
| CY Other Expenses | $8,890,802 | CYOtherExpensesAmt |
| PY Total Expenses | $21,732,525 | PYTotalExpensesAmt |
| CY Total Expenses | $23,336,386 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $5,884,633 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $7,884,554 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,021,053,305 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,013,412,754 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $903,837,886 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $916,728,629 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $117,215,419 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $96,684,125 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | TO MAKE A DIFFERENCE IN THE LIVES AND FINANCIAL WELL-BEING OF OUR MEMBERS AND EMPLOYEES. OUR COMMITMENT IS (1) TO GAIN OUR MEMBERS TRUST BY PROVIDING EXCEPTIONAL MEMBER SERVICE (2) TO OFFER A WIDE ARRAY OF FINANCIAL PRODUCTS, SERVICES AND DELIVERY CHANNELS (3) TO EDUCATE OUR MEMBERS IN ALIGNMENT WITH THEIR FINANCIAL GOALS (4) TO RECOGNIZE THE PERFORMANCE, ACHIEVEMENT AND PERSONAL DEVELOPMENT OF OUR EMPLOYEES (5) TO PROTECT OUR MEMBERS' DATA AND PRIVACY (6) TO CONDUCT BUSINESS WITH THE HIGHEST STANDARDS OF ETHICS, INTEGRITY AND HONESTY. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | TO PROVIDE COMPETITIVE LOANS, MARKET DEPOSIT RATES, AND EFFICIENT CHECKING SERVICES TO OUR MEMBERSHIP. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | Yes (1) | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 13030 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 105 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 8 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | 0 | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | Yes (1) | LocalChaptersInd |
| Policies Reference Chapters | Yes (1) | PoliciesReferenceChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | 0 | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JANET OSBORN | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8472499431 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 325 TRI-STATE PARKWAY | AddressLine1Txt |
| City | GURNEE | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 60031 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (20 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| JOSEPH TROSCLAIR | ||||||||
| PRESIDENT | 40.00 | Yes (X) | Yes (X) | $515,299 | $0 | $32,185 | ||
| JON BERNDT | ||||||||
| SENIOR VICE PRESIDENT, CFO | 40.00 | Yes (X) | $288,112 | $0 | $53,948 | |||
| KENNETH KEIFER | ||||||||
| SENIOR VICE PRESIDENT, LENDING | 40.00 | $236,118 | $0 | $53,379 | Yes (X) | |||
| BRADY VAN HEIRSEELE | ||||||||
| SENIOR VICE PRESIDENT, IT/RISK | 40.00 | $223,546 | $0 | $46,342 | Yes (X) | |||
| JENNIFER PESTIKAS | ||||||||
| SENIOR VICE PRESIDENT, BUSINESS DEV | 40.00 | $222,884 | $0 | $43,957 | Yes (X) | |||
| JENNIFER DZBINSKI | ||||||||
| VICE PRESIDENT, SERVICE & SALES | 40.00 | $172,107 | $0 | $46,295 | Yes (X) | |||
| JANET OSBORN | ||||||||
| DIRECTOR OF ACCOUNTING | 40.00 | $141,923 | $0 | $18,978 | Yes (X) | |||
| DANIELLE HERBRECHTSMEIER | ||||||||
| DIRECTOR OF ADMINISTRATION | 40.00 | $141,966 | $0 | $17,662 | Yes (X) | |||
| JEFFREY DEMPSKI | ||||||||
| SENIOR UNDERWRITING MANAGER | 40.00 | $122,332 | $0 | $36,541 | Yes (X) | |||
| DEBORAH ZIMMERMAN | ||||||||
| SENIOR PRODUCT MANAGER-FHLB | 40.00 | $130,541 | $0 | $27,044 | Yes (X) | |||
| JOHN MCCOY | ||||||||
| CHAIRMAN | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| DAVID MARK | ||||||||
| CHAIRMAN (UNTIL 6/22) | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| BETH MIKSA | ||||||||
| VICE CHAIR | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| ROBERT REISER | ||||||||
| TREASURER | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| STEVE SCROGHAM | ||||||||
| SECRETARY | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| DOAN NGUYEN | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| MARK STOFFEL | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| CHRISTINE AMANN | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| BEN OOSTERBAAN | ||||||||
| DIRECTOR (UNTIL 10/22) | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| WAYNE WALLIS | ||||||||
| DIRECTOR (UNTIL 11/22) | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,194,828 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $376,331 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 14 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| FISERV | |||||
| PO BOX 934057 | ATLANTA | GA | 31193 | BANKING SERVICES | $2,192,409 |
| CARDTRONICS | |||||
| PO BOX 4346 DEPT 364 | HOUSTON | TX | 77210 | ATM SERVICES | $199,127 |
| SENTINEL TECHNOLOGIES | |||||
| PO BOX 85080 | CHICAGO | IL | 60680 | IT SUPPORT | $164,713 |
| LEVEL 2 DESIGN | |||||
| 606 GEORGIA AVE STE A | CHATTANOOGA | TN | 37402 | MARKETING SUPPORT | $133,122 |
| MARQUIS SOFTWARE SOLUTIONS INC | |||||
| DEPT 730069 PO BOX 660919 | DALLAS | TX | 75266 | MARKETING SUPPORT | $117,142 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 5 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| LOAN INTEREST | 522100 | $18,223,794 | $18,223,794 | |
| FEES AND CHARGES | 522100 | $4,992,678 | $4,896,186 | $96,492 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $23,216,472 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $7,244,366 | TotalRevenueColumnAmt |
| Exclusion | $7,244,366 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $184,334 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $0 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $184,334 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $184,334 | TotalRevenueColumnAmt |
| Exclusion | $184,334 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER INCOME | Desc |
| Business | 522100 | BusinessCd |
| Total Revenue Column | $575,768 | TotalRevenueColumnAmt |
| Exclusion | $575,768 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $575,768 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $31,220,940 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $23,119,980 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $96,492 | UnrelatedBusinessRevenueAmt |
| Exclusion | $8,004,468 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $32,491 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,266,848 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,715,770 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,337,701 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $183,009 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,352,349 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $557,416 | TotalAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $53,672 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $31,777 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $124,671 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $516,891 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $469,017 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $862,311 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $941,590 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $283,189 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $24,899 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $217,222 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $840,091 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $129,047 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| UBI TAXES | $13,583 |
| BANKING FEES | $2,223,818 |
| LOAN SERVICING | $1,186,221 |
| PROVISION FOR LOAN LOSS | $387,431 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $585,372 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $23,336,386 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,298,443 | BOYAmt |
| EOY | $4,121,273 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $83,099,515 | BOYAmt |
| EOY | $53,322,232 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,143,895 | BOYAmt |
| EOY | $6,067,481 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,364,636 | BOYAmt |
| EOY | $1,938,777 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $482,004,439 | BOYAmt |
| EOY | $535,290,880 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $562,227 | BOYAmt |
| EOY | $700,582 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $16,579,940 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $3,868,138 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,116,609 | BOYAmt |
| EOY | $12,711,802 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $391,480,101 | BOYAmt |
| EOY | $371,948,364 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,458,800 | BOYAmt |
| EOY | $3,551,900 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,524,640 | BOYAmt |
| EOY | $23,759,463 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,021,053,305 | BOYAmt |
| EOY | $1,013,412,754 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,533,653 | BOYAmt |
| EOY | $7,447,609 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,000,000 | BOYAmt |
| EOY | $20,000,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $893,304,233 | BOYAmt |
| EOY | $889,281,020 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $903,837,886 | BOYAmt |
| EOY | $916,728,629 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $117,215,419 | BOYAmt |
| EOY | $96,684,125 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $117,215,419 | BOYAmt |
| EOY | $96,684,125 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,021,053,305 | BOYAmt |
| EOY | $1,013,412,754 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $7,884,554 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$28,685,267 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $269,419 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,809,709 | OtherCostOrOtherBasisAmt |
| Book Value | $1,809,709 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $7,699,066 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,269,830 | DepreciationAmt |
| Book Value | $6,429,236 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $214,084 | OtherCostOrOtherBasisAmt |
| Depreciation | $130,858 | DepreciationAmt |
| Book Value | $83,226 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,596,075 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,467,450 | DepreciationAmt |
| Book Value | $4,128,625 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $261,006 | OtherCostOrOtherBasisAmt |
| Book Value | $261,006 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $12,711,802 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| MEMBERS' SHARE AND SAVINGS ACCOUNT | $888,723,508 |
| DEFERRED COMPENSATION LIABILITY | $557,512 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $889,281,020 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $31,490,359 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | $269,419 | OtherRevenueAmt |
| Revenue Not Reported | $269,419 | RevenueNotReportedAmt |
| Revenue Subtotal | $31,220,940 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $31,220,940 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $23,336,386 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $23,336,386 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $23,336,386 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE. TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES, AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES CONSIDERED TO BE UNRELATED TO THE CREDIT UNION'S NONTAXABLE STATUS IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2022 AND 2021. THE CREDIT UNION'S 2019 THROUGH 2021 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | CHANGE IN VALUE OF LIFE INSURANCE POLICIES 269,419. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CREDIT UNION NATIONAL ASSOCIATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 78546 | AddressLine1Txt |
| City | MILWAUKEE | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 53278 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 237065623 | RecipientEIN |
| IRC Section | 501(C)(6) | IRCSectionDesc |
| Cash Grant | $15,000 | CashGrantAmt |
| Non Cash Assistance | $0 | NonCashAssistanceAmt |
| Purpose Of Grant | GENERAL SUPPORT | PurposeOfGrantTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 0 | Total501c3OrgCnt |
| Total Other Org | 1 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | NO FORMAL MONITORING PROCEDURES. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (10 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JOSEPH TROSCLAIR | ||||||||||||||
| PRESIDENT | $361,248 | $0 | $152,742 | $0 | $1,309 | $0 | $23,240 | $0 | $8,945 | $0 | $547,484 | $0 | $0 | $0 |
| JON BERNDT | ||||||||||||||
| SENIOR VICE PRESIDENT, CFO | $231,014 | $0 | $54,424 | $0 | $2,674 | $0 | $29,864 | $0 | $24,084 | $0 | $342,060 | $0 | $0 | $0 |
| KENNETH KEIFER | ||||||||||||||
| SENIOR VICE PRESIDENT, LENDING | $189,205 | $0 | $44,574 | $0 | $2,339 | $0 | $29,351 | $0 | $24,028 | $0 | $289,497 | $0 | $0 | $0 |
| BRADY VAN HEIRSEELE | ||||||||||||||
| SENIOR VICE PRESIDENT, IT/RISK | $179,400 | $0 | $43,751 | $0 | $395 | $0 | $15,847 | $0 | $30,495 | $0 | $269,888 | $0 | $0 | $0 |
| JENNIFER PESTIKAS | ||||||||||||||
| SENIOR VICE PRESIDENT, BUSINESS DEV | $178,772 | $0 | $43,597 | $0 | $515 | $0 | $11,469 | $0 | $32,488 | $0 | $266,841 | $0 | $0 | $0 |
| JENNIFER DZBINSKI | ||||||||||||||
| VICE PRESIDENT, SERVICE & SALES | $138,015 | $0 | $33,422 | $0 | $670 | $0 | $16,486 | $0 | $29,809 | $0 | $218,402 | $0 | $0 | $0 |
| JANET OSBORN | ||||||||||||||
| DIRECTOR OF ACCOUNTING | $119,246 | $0 | $21,732 | $0 | $945 | $0 | $7,046 | $0 | $11,932 | $0 | $160,901 | $0 | $0 | $0 |
| DANIELLE HERBRECHTSMEIER | ||||||||||||||
| DIRECTOR OF ADMINISTRATION | $118,656 | $0 | $23,125 | $0 | $185 | $0 | $6,868 | $0 | $10,794 | $0 | $159,628 | $0 | $0 | $0 |
| JEFFREY DEMPSKI | ||||||||||||||
| SENIOR UNDERWRITING MANAGER | $102,192 | $0 | $20,075 | $0 | $65 | $0 | $5,605 | $0 | $30,936 | $0 | $158,873 | $0 | $0 | $0 |
| DEBORAH ZIMMERMAN | ||||||||||||||
| SENIOR PRODUCT MANAGER-FHLB | $104,809 | $0 | $25,023 | $0 | $709 | $0 | $6,159 | $0 | $20,885 | $0 | $157,585 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 4B | FormAndLineReferenceDesc |
| Explanation | SPLIT DOLLAR LIFE INSURANCE: THE CREDIT UNION HAS GRANTED NONRECOURSE LOANS FOR LIFE INSURANCE PREMIUM PAYMENTS TO SELECT MEMBERS OF SENIOR MANAGEMENT. THESE LOANS ARE COLLATERALIZED BY THE ASSIGNMENT OF THE CASH SURRENDER VALUE OF EACH RESPECTIVE LIFE INSURANCE POLICY. THE POLICIES ARE OWNED BY THE EXECUTIVES AND THE OWNERS HAVE SOLE CONTROL OVER THE LISTED BENEFICIARIES. AT THE TIME OF RETIREMENT, THE LOAN BECOMES DUE AND PAYABLE AND CAN BE PAID WITH THE CASH VALUE OF THE LIFE INSURANCE POLICY, OR WITH OTHER PERSONAL FUNDS AT THE OWNER'S DISCRETION. THE LOANS ARE CONSIDERED NONRECOURSE AND AS SUCH, THE CREDIT UNION HAS RECORDED THE BALANCE AS THE LOWER OF THE OUTSTANDING LOAN BALANCE PLUS ACCRUED INTEREST, OR THE CASH SURRENDER VALUE OF THE LIFE INSURANCE POLICIES. | ExplanationTxt |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (4 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| JOSEPH M TROSCLAIR | |||||||
| PRESIDENT | SPLIT DOLLAR LIFE INSURANCE | Yes (X) | $1,535,728 | $1,353,413 | 0 | Yes (1) | Yes (1) |
| BRADY VAN HEIRSEELE | |||||||
| SENIOR VICE PRESIDENT, IT/RISK | SPLIT DOLLAR LIFE INSURANCE | Yes (X) | $122,801 | $117,923 | 0 | Yes (1) | Yes (1) |
| KENNETH KIEFER | |||||||
| SENIOR VICE PRESIDENT, LENDING | SPLIT DOLLAR LIFE INSURANCE | Yes (X) | $194,435 | $177,987 | 0 | Yes (1) | Yes (1) |
| JOSEPH TROSCLAIR | |||||||
| PRESIDENT | SPLIT DOLLAR LIFE INSURANCE | Yes (X) | $303,591 | $289,454 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $1,938,777 | TotalBalanceDueAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE L, PART II | FormAndLineReferenceDesc |
| Explanation | SPLIT DOLLAR LIFE INSURANCE: THE CREDIT UNION HAS GRANTED NONRECOURSE LOANS FOR LIFE INSURANCE PREMIUM PAYMENTS TO SELECT MEMBERS OF SENIOR MANAGEMENT. THESE LOANS ARE COLLATERALIZED BY THE ASSIGNMENT OF THE CASH SURRENDER VALUE OF EACH RESPECTIVE LIFE INSURANCE POLICY. THE POLICIES ARE OWNED BY THE EXECUTIVES AND THE OWNERS HAVE SOLE CONTROL OVER THE LISTED BENEFICIARIES. AT THE TIME OF RETIREMENT, THE LOAN BECOMES DUE AND PAYABLE AND CAN BE PAID WITH THE CASH VALUE OF THE LIFE INSURANCE POLICY, OR WITH OTHER PERSONAL FUNDS AT THE OWNER'S DISCRETION. THE LOANS ARE CONSIDERED NONRECOURSE AND AS SUCH, THE CREDIT UNION HAS RECORDED THE BALANCE AS THE LOWER OF THE OUTSTANDING LOAN BALANCE PLUS ACCRUED INTEREST, OR THE CASH SURRENDER VALUE OF THE LIFE INSURANCE POLICIES. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE CREDIT UNION HAS MEMBERS. THE CREDIT UNION'S PRIMARY FIELDS OF MEMBERSHIP FOR LENDING AND SAVINGS ACTIVITIES ARE EMPLOYEES, RETIREES, AND THE FAMILY MEMBERS OF ABBOTT LABORATORIES; ABBVIE, INC.; AND THE CREDIT UNION'S EMPLOYEES, RETIREES, AND THEIR FAMILY MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE GOVERNING BODY OF THE ORGANIZATION IS ELECTED BY ITS MEMBERS |
| FORM 990, PART VI, SECTION A, LINE 7B | ELECTION OF DIRECTORS AND PROPOSALS FOR MERGERS/VOLUNTARY DISSOLUTION IS VOTED ON BY MEMBERS. HOWEVER, MEMBERS MAY VOTE BY PROXY. CHANGES TO THE CORPORATE CHARTER AND BYLAWS REQUIRE APPROVAL OF MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 8B | THE CREDIT UNION DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 IS PREPARED BY THE ORGANIZATION'S PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. ONCE A DRAFT IS AVAILABLE, IT IS REVIEWED BY THE CFO BEFORE FILING WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12 | THE ORGANIZATIONS CODE OF ETHICS POLICY INCLUDES ITS POSITION ON CONFLICT OF INTEREST. THE CODE OF ETHICS POLICY IS REQUIRED TO BE SIGNED ANNUALLY BY ALL EMPLOYEES. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE COMPENSATION OF THE CEO IS APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD. THEY OBTAINED SURVEY'S WHICH THEN THE DATA IS COMPARED AT THE POSITION LEVEL, INCLUDING FACTORS SUCH AS THE NUMBER OF SERVICES, NUMBER OF MEMBERS AND NUMBER OF LOANS. COMPENSATION IS BASED ON ANALYSIS OF THIS DATA. THIS INFORMATION IS KEPT IN THE PAYROLL FILE AND THE CEO'S PERSONNEL FILE. REGARDING THE COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES, THE CEO RECOMMENDS CHANGES IN COMPENSATION TO THE COMPENSATION COMMITTEE OF THE BOARD, USING INDIVIDUAL COMPENSATION REPORTS PROVIDED BY ALEC'S INDEPENDENT COMPENSATION CONSULTANT. ONCE APPROVED BY THE COMPENSATION COMMITTEE, THE CEO NOTIFIES HR FOR PAYROLL PURPOSES. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE CREDIT UNION MAKES IT GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | CHANGE IN VALUE OF LIFE INSURANCE POLICIES 269,419. |