CREDIT UNION 1: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- CREDIT UNION 1 (EIN 37-0767435)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-11-13
- IRS object ID
- 202333179349301643
- 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 | 2023-11-13T08:42:38-06:00 | ReturnTs |
| Tax Period End | 2022-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 202122306 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GBQ PARTNERS LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4030 SMITH ROAD SUITE 400 | AddressLine1Txt |
| City | CINCINNATI | CityNm |
| State Abbreviation | OH | StateAbbreviationCd |
| ZIP | 45209 | 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 | 370767435 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CREDIT UNION 1 | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | CRED | BusinessNameControlTxt |
| Phone | 8002526950 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 E CHAMPAIGN AVE | AddressLine1Txt |
| City | RANTOUL | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 618662930 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | SCOTT MCDONALD | PersonNm |
| Person Title | CFO/EVP | PersonTitleTxt |
| Phone | 8002526950 | PhoneNum |
| Signature | 2023-11-06 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | SCOTT | PersonFirstNm |
| Person Last | MCDONALD | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | GREGORY HEIMKREITER | PreparerPersonNm |
| PTIN | P01331287 | PTIN |
| Phone | 5138713033 | PhoneNum |
| Preparation | 2023-11-06 | 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) |
|---|---|---|
| Principal Officer | SCOTT MCDONALD | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 E CHAMPAIGN AVE | AddressLine1Txt |
| City | RANTOUL | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 618662930 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $75,979,515 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.CREDITUNION1.ORG | WebsiteAddressTxt |
| Type Of Organization Other | Yes (X) | TypeOfOrganizationOtherInd |
| Other Organization Dsc | CREDIT UNION | OtherOrganizationDsc |
| Formation | 1958 | FormationYr |
| Legal Domicile State | IL | LegalDomicileStateCd |
| Activity Or Mission | CREDIT UNION 1 IS A MEMBER-OWNED AND CONTROLLED FINANCIAL INSTITUTION DEDICATED TO PROVIDING CONVENIENT AND COMPETITIVE SERVICES AS A MEANS OF IMPROVING ONGOING ECONOMIC WELL-BEING OF OUR MEMBERS WHILE PROMOTING GROWTH AND MAINTAINING THE CREDIT UNION'S LONG-TERM FINANCIAL STABILITY. | ActivityOrMissionDesc |
| Voting Members Governing Body | 8 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 485 | TotalEmployeeCnt |
| Total Volunteers | 8 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $34,183,025 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $47,263,470 | CYProgramServiceRevenueAmt |
| PY Investment Income | $6,607,490 | PYInvestmentIncomeAmt |
| CY Investment Income | $3,453,551 | CYInvestmentIncomeAmt |
| PY Other Revenue | $32,201,396 | PYOtherRevenueAmt |
| CY Other Revenue | $23,504,880 | CYOtherRevenueAmt |
| PY Total Revenue | $72,991,911 | PYTotalRevenueAmt |
| CY Total Revenue | $74,221,901 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $31,075,321 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $32,316,856 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $28,112,315 | PYOtherExpensesAmt |
| CY Other Expenses | $32,035,347 | CYOtherExpensesAmt |
| PY Total Expenses | $59,187,636 | PYTotalExpensesAmt |
| CY Total Expenses | $64,352,203 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $13,804,275 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $9,869,698 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,226,789,437 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,585,978,393 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,119,898,189 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,455,360,872 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $106,891,248 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $130,617,521 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | CREDIT UNION 1 IS A MEMBER-OWNED AND CONTROLLED FINANCIAL INSTITUTION DEDICATED TO PROVIDING CONVENIENT AND COMPETITIVE SERVICES AS A MEANS OF IMPROVING ONGOING ECONOMIC WELL-BEING OF OUR MEMBERS WHILE PROMOTING GROWTH AND MAINTAINING THE CREDIT UNION'S LONG-TERM FINANCIAL STABILITY. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | PROVIDE FINANCIAL SERVICES TO ITS MEMBERS. | 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 | Yes (1) | 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 | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | 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 | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | 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 | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | 0 | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 14823 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 485 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| 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 | Yes (1) | 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 | Yes (1) | 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | AL NUKU VP OF ACCOUNTING | PersonNm |
| Phone | 2178939112 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 E CHAMPAIGN AVE | AddressLine1Txt |
| City | RANTOUL | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 618662930 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (14 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd |
|---|---|---|---|---|---|---|
| ROBERT EBERHARDT | ||||||
| DIRECTOR - CHAIR | 2.00 | Yes (X) | $21,600 | $0 | $26,058 | |
| DAN LONG | ||||||
| DIRECTOR | 2.00 | Yes (X) | $14,400 | $0 | $10,906 | |
| REX TOLLIVER | ||||||
| DIRECTOR | 2.00 | Yes (X) | $14,400 | $0 | $90 | |
| DANIEL RICCI | ||||||
| DIRECTOR - VICE CHAIR | 2.00 | Yes (X) | $14,400 | $0 | $45 | |
| THOMAS WELLS JR | ||||||
| DIRECTOR - SECRETARY | 2.00 | Yes (X) | $14,400 | $0 | $10,861 | |
| KENT YAGER | ||||||
| DIRECTOR | 2.00 | Yes (X) | $14,400 | $0 | $10,906 | |
| PAUL SIMONS | ||||||
| DIRECTOR | 2.00 | Yes (X) | $14,400 | $0 | $59 | |
| TODD GUNDERSON | ||||||
| PRESIDENT/CEO | 40.00 | Yes (X) | $693,135 | $0 | $55,900 | Yes (X) |
| HALLIE OLSEN | ||||||
| DIRECTOR | 2.00 | Yes (X) | $14,400 | $0 | $90 | |
| PAUL FICHTER | ||||||
| EVP, GENERAL COUNSEL & CHI | 40.00 | $389,506 | $0 | $52,761 | Yes (X) | |
| MICHAEL HIRT | ||||||
| SVP, CHIEF TECHNOLOGY OFFI | 40.00 | $295,129 | $0 | $51,367 | Yes (X) | |
| KEVIN ALLEN | ||||||
| SVP, CHIEF SALES OFFICER | 40.00 | $285,231 | $0 | $47,766 | Yes (X) | |
| SCOTT MCDONALD | ||||||
| EVP, CHIEF FINANCIAL OFFIC | 40.00 | $386,350 | $0 | $55,164 | Yes (X) | |
| JEFF ROTHMEYER | ||||||
| EVP, CHIEF LENDING OFFICER | 40.00 | $375,427 | $0 | $35,816 | Yes (X) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,547,178 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $357,789 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 6 | 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 |
|---|---|---|---|---|---|
| ALLIED BENEFIT SYSTEMS INC | |||||
| 300 W ADAMS STREET SUITE 500 | CHICAGO | IL | 60606 | MEDICAL AND HEALTH CARE PAYMENTS | $1,052,800 |
| CIVITAS PASEO VERDE OWNER LLC | |||||
| 2360 CORPORATE CIR STE 330 | HENDERSON | NV | 890747718 | RENT | $696,537 |
| COMAR PROPERTIES INC | |||||
| 200 WEST ADAMS STREET SUITE 500 | CHICAGO | IL | 60606 | RENT | $198,252 |
| MELLODY FARM | |||||
| 1568 SOLUTIONS CENTER | CHICAGO | IL | 606771005 | RENT | $128,397 |
| MATTESON II LLC | |||||
| 55 E JACKSON BLVD STE 500 | CHICAGO | IL | 606044396 | RENT | $111,024 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 6 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | LOAN INCOME | Desc |
| Business | 522100 | BusinessCd |
| Total Revenue Column | $47,263,470 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $47,263,470 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $47,263,470 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,583,102 | TotalRevenueColumnAmt |
| Exclusion | $2,583,102 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $2,628,063 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $1,757,614 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $870,449 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $870,449 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $870,449 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER INCOME | Desc |
| Total Revenue Column | $23,504,880 | TotalRevenueColumnAmt |
| Exclusion | $23,504,880 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $23,504,880 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $74,221,901 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $48,133,919 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $26,087,982 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,904,967 | TotalAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $22,929,528 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,410,501 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,071,860 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,908,375 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,130,957 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,887,802 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,310,903 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,485,320 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| LOAN PROCESSING | $4,935,001 |
| DIVIDEND EXPENSE | $4,676,092 |
| BOARD & STAFF | $995,045 |
| PROVISION FOR LOAN LOSS | $576,230 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $129,622 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $64,352,203 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,762,000 | BOYAmt |
| EOY | $28,339,687 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $244,532,935 | BOYAmt |
| EOY | $25,929,256 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $820,880,135 | BOYAmt |
| EOY | $1,340,152,720 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $49,022,835 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $23,769,714 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,939,606 | BOYAmt |
| EOY | $25,253,121 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,432,279 | BOYAmt |
| EOY | $56,491,992 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $30,598,995 | BOYAmt |
| EOY | $28,160,773 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $214,240 | BOYAmt |
| EOY | $593,731 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $70,429,247 | BOYAmt |
| EOY | $81,057,113 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,226,789,437 | BOYAmt |
| EOY | $1,585,978,393 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $28,754,180 | BOYAmt |
| EOY | $70,000,000 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $5,796,299 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $3,869,068 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,091,144,009 | BOYAmt |
| EOY | $1,375,695,505 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,119,898,189 | BOYAmt |
| EOY | $1,455,360,872 | 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 | $106,891,248 | BOYAmt |
| EOY | $130,617,521 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $106,891,248 | BOYAmt |
| EOY | $130,617,521 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,226,789,437 | BOYAmt |
| EOY | $1,585,978,393 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $9,869,698 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $13,856,575 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| 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) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,610,615 | OtherCostOrOtherBasisAmt |
| Book Value | $2,610,615 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $15,833,858 | OtherCostOrOtherBasisAmt |
| Depreciation | $6,958,758 | DepreciationAmt |
| Book Value | $8,875,100 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $7,439,697 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,232,214 | DepreciationAmt |
| Book Value | $3,207,483 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $17,294,682 | OtherCostOrOtherBasisAmt |
| Depreciation | $12,577,107 | DepreciationAmt |
| Book Value | $4,717,575 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $5,843,983 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,635 | DepreciationAmt |
| Book Value | $5,842,348 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $25,253,121 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (3 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| OTHER ASSETS | $64,924,008 |
| ACCRUED INTEREST RECEIVABLE | $4,651,177 |
| AMERICAN SHARE INSURANCE DEPOSIT | $11,481,928 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $81,057,113 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (6 entries)
| DescDesc | AmtAmt |
|---|---|
| SHARE DRAFT DEPOSITS | $290,845,208 |
| MEMBER SHARE DEPOSITS (SAVINGS AND MEMBERSHIP) | $643,069,548 |
| MONEY MARKET SHARE DEPOSIT | $245,308,759 |
| TERM SHARE AND IRA SHARE CERTIFICATES | $32,835,705 |
| CD'S | $128,068,077 |
| OTHER LIABILITIES | $35,568,208 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,375,695,505 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | THE CREDIT UNION SERVICES 1ST MORTGAGE LOANS AND AS PART OF PROVIDING THIS SERVICE, COLLECTS PROPERTY INSURANCE AND REAL ESTATE TAX PAYMENTS MONTHLY FROM HOME OWNERS. THE CREDIT UNION HOLDS THE FUNDS IN ESCROW UNTIL THE INSURANCE PREMIUMS OR TAX BILLS ARE DUE. |
| PART X, LINE 2: | THE INTERNAL REVENUE SERVICE (IRS) AND CERTAIN STATE TAX AUTHORITIES ARE EVALUATING WHAT, IF ANY, PRODUCTS AND SERVICES PROVIDED BY STATE CHARTERED CREDIT UNIONS ARE SUBJECT TO UNRELATED BUSINESS INCOME (UBIT). IN 2007, THE IRS ISSUED CERTAIN TECHNICAL ADVICE MEMORANDA WITH RESPECT TO PRODUCTS AND SERVICES SUBJECT TO UBIT. THERE IS CURRENTLY VERY LITTLE GUIDANCE IN THE INTERNAL REVENUE CODE ON WHAT ACTIVITIES SHOULD BE SUBJECT TO UBIT. AS A RESULT, AT THIS TIME THE UNCERTAINTITY 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 THE CREDIT UNION WAS GRANTED NON-TAXABLE STATUS IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (6 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TODD GUNDERSON | ||||||||||||||
| PRESIDENT/CEO | $568,135 | $0 | $125,000 | $0 | $0 | $0 | $29,842 | $0 | $26,058 | $0 | $749,035 | $0 | $0 | $0 |
| PAUL FICHTER | ||||||||||||||
| EVP, GENERAL COUNSEL & CHI | $286,684 | $0 | $102,822 | $0 | $0 | $0 | $26,703 | $0 | $26,058 | $0 | $442,267 | $0 | $0 | $0 |
| SCOTT MCDONALD | ||||||||||||||
| EVP, CHIEF FINANCIAL OFFIC | $286,828 | $0 | $99,522 | $0 | $0 | $0 | $29,106 | $0 | $26,058 | $0 | $441,514 | $0 | $0 | $0 |
| JEFF ROTHMEYER | ||||||||||||||
| EVP, CHIEF LENDING OFFICER | $282,055 | $0 | $93,372 | $0 | $0 | $0 | $9,758 | $0 | $26,058 | $0 | $411,243 | $0 | $0 | $0 |
| MICHAEL HIRT | ||||||||||||||
| SVP, CHIEF TECHNOLOGY OFFI | $214,957 | $0 | $80,172 | $0 | $0 | $0 | $25,309 | $0 | $26,058 | $0 | $346,496 | $0 | $0 | $0 |
| KEVIN ALLEN | ||||||||||||||
| SVP, CHIEF SALES OFFICER | $209,259 | $0 | $75,972 | $0 | $0 | $0 | $25,214 | $0 | $22,552 | $0 | $332,997 | $0 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE ORGANIZATION HAS MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | CREDIT UNION MEMBERS, WHICH ARE THE DEPOSITORS, ELECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING. |
| FORM 990, PART VI, SECTION A, LINE 7B | CERTAIN TRANSACTIONS AND DECISIONS MAY BE SUBJECT TO APPROVAL BY MEMBERS. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE COMPLETED 990 IS REVIEWED BY THE EXECUTIVE VICE PRESIDENT OF FINANCE/CFO AND THE PRESIDENT/CEO. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE BOARD COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY HAS NOT BEEN AN ISSUE AT THE CREDIT UNION. BOARD MEMBERS NOTIFY THE BOARD OF POTENTIAL CONFLICTS AND REMOVE HIM/HERSELF FROM DISCUSSION OF ANY SUCH AREAS. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE BOARD OF DIRECTORS REVIEWS THE PRESIDENT/CEO SALARY ANNUALLY AND UTILIZES A COMPENSATION SURVEY PREPARED BY CUES FOR COMPARABILITY PURPOSES. THE CUES EXECUTIVE COMPENSATION GUIDE IS UTILIZED BY THE CEO FOR SALARY COMPARABILITY FOR OFFICERS AND EMPLOYEES MAKING OVER $100,000. |
| FORM 990, PART VI, SECTION C, LINE 19 | AVAILABLE UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | EQUITY ACQUIRED IN MERGERS 13,856,575. |
| PART XII, LINE 2C | SUPERVISORY COMMITTEE ENGAGES THE CPA FIRM FOR AN ANNUAL AUDIT OF THE FINANCIAL STATEMENT. ADDITIONALLY THE SUPERVISORY COMMITTEE SUPERVISES THE INTERNAL AUDIT DEPARTMENT WHICH INCLUDES 3 EMPLOYEES. |
Schedule R IRS990ScheduleR
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CUSO LTD | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 E CHAMPAIGN AVE | AddressLine1Txt |
| City | RANTOUL | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 61866 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 371131037 | EIN |
| Primary Activities | DORMANT TRAVEL AGENCY | PrimaryActivitiesTxt |
| Legal Domicile State | IL | LegalDomicileStateCd |
| Entity Type | C | EntityTypeTxt |
| Ownership | 1.00000 | OwnershipPct |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |