2023-11-13T10:54:12-06:00 2022-12-31 420714325 RSM US LLP 4650 EAST 53RD STREET DAVENPORT IA 528073479 990 2022-01-01 360760135 CORPORATE AMERICA FAMILY CREDIT UNION CORP 8472142000 2075 BIG TIMBER RD ELGIN IL 601231140 DANIEL KADOLPH CHIEF FINANCIAL OFFICER 8472142000 2023-11-10 1 DANIEL KADOLPH 999009999 0 JENIFER L CHASE P01306883 5638884000 2023-11-10 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z PETER PAULSON 2075 BIG TIMBER RD ELGIN IL 601231140 45338962 0 X WWW.CAFCU.ORG X 1939 IL CORPORATE AMERICA FAMILY CREDIT UNION IS A NOT-FOR-PROFIT, MEMBER-OWNED AND DIRECTED FINANCIAL COOPERATIVE DEDICATED TO BEING THE PRIMARY FINANCIAL INSTITUTION FOR ITS MEMBERS. 10 9 266 9 0 0 0 0 30108739 33441082 2685003 6240117 267354 83965 33061096 39765164 0 0 0 0 18425272 18789618 0 0 0 13645891 17834068 32071163 36623686 989933 3141478 809180688 839530698 703319469 749049787 105861219 90480911 CORPORATE AMERICA FAMILY CREDIT UNION IS A NOT-FOR-PROFIT, MEMBER-OWNED AND DIRECTED FINANCIAL COOPERATIVE DEDICATED TO BEING THE PRIMARY FINANCIAL INSTITUTION FOR ITS MEMBERS. 0 0 RECEIVED DEPOSITS FROM 68,055 MEMBERS: CORPORATE AMERICA FAMILY CREDIT UNION (THE CREDIT UNION) PROVIDES SAVINGS PRODUCTS TO MEMBERS AT VERY COMPETITIVE RATES INCLUDING REGULAR SHARES, MONEY MARKETS, CERTIFICATES OF DEPOSIT AND IRA PRODUCTS. THE CREDIT UNION ALSO PROVIDES A VARIETY OF CHECKING ACCOUNTS INCLUDING A TRADITIONAL CHECKING ACCOUNT THAT IS FREE TO OUR MEMBERS. PROVIDED CONSUMER LOANS TO 5,459 MEMBERS: THE TYPES OF CONSUMER LOANS PROVIDED TO THE MEMBERSHIP INCLUDE AUTO LOANS, PERSONAL LOANS AND CREDIT CARDS. CONSUMER LOANS ARE OFFERED AT COMPETITIVE RATES. PROVIDED FIRST MORTGAGE AND HOME EQUITY LOANS TO 371 MEMBERS: THE TYPES OF FIRST MORTGAGE LOANS OFFERED ARE FIXED RATE AND VARIABLE RATE LOANS. THE HOME EQUITY LOANS ARE ALSO EITHER FIXED RATE OR VARIABLE LINES OF CREDIT. 0 0 1 0 0 0 0 1 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 1 1 1 0 1 10366 0 1 266 1 0 0 0 0 0 0 0 0 X 10 9 0 0 0 0 1 1 0 1 0 0 0 1 1 1 1 1 1 1 0 0 X DAN KADOLPH 8472142000 2075 BIG TIMBER RD ELGIN IL 601231140 PETER PAULSON PRESIDENT/CEO 40.00 X X 381390 0 239152 PAULA BLONSKI FORMER DIRECTOR 1.00 X 0 0 0 JOHN BLOZIS TREASURER 1.00 X X 0 0 0 GLENN BROWN DIRECTOR 1.00 X 0 0 0 JEFF GOTT DIRECTOR 1.00 X 0 0 0 TIFFANY JORDAN DIRECTOR 1.00 X 0 0 0 COSTANZO MAESTRANZI CHAIR 1.00 X X 0 0 0 KENNETH NAATZ SECRETARY 1.00 X X 0 0 0 THOMAS RIECK DIRECTOR 1.00 X 0 0 0 THOMAS SHEPPARD VICE CHAIR 1.00 X X 0 0 0 PAT TOLLEFSON DIRECTOR 1.00 X 0 0 0 DAN KADOLPH SENIOR VICE PRESIDENT/CFO 40.00 X 110886 0 704 ELLEN MEEHAN SENIOR VICE PRESIDENT 40.00 X 192246 0 47414 CAROL HOEM SENIOR VICE PRESIDENT 40.00 X 163358 0 42303 ANDREW BOWEN VICE PRESIDENT 40.00 X 157350 0 56079 MATTHEW HELMS SENIOR VICE PRESIDENT 40.00 X 149271 0 43875 FAITH MYERS VICE PRESIDENT 40.00 X 136241 0 21936 LAURA KIRILUK VICE PRESIDENT 40.00 X 126884 0 39531 STEVEN OLSON VICE PRESIDENT 40.00 X 143467 0 26331 KATHLEEN CROUSE MANAGER 40.00 X 114357 0 22819 JOSEPH SHULTZ VICE PRESIDENT 40.00 X 131664 0 32388 1807114 0 572532 16 0 1 0 FISERV 235 FISERV DR PO BOX 979 BROOKFIELD WI 530080979 CORE SYSTEM PROVIDER 1692043 NCR 864 SPRING ST NW ATLANTA GA 30308 ATM/PTM PROVIDER 479456 SOFTCHOICE 314 W SUPERIOR ST CHICAGO IL 60654 IT SERVICES PROVIDER 437287 MICRODYNAMICS CORP 8580 SOLUTIONS CENTER CHICAGO IL 606778005 STATEMENT PROVIDER 364688 HEIDNER PROPERTY MANAGEMENT 5277 TRILLIUM BLVD HOFFMAN ESTATES IL 60192 REAL ESTATE RENTAL 308954 17 LOAN INCOME 522130 23566086 23566086 FEE INCOME 522130 7229024 7229024 OTHER OPERATING REVENUE 522130 2645972 2645972 33441082 6186373 6186373 5627542 5573798 53744 53744 53744 PURCHASE ACCOUNTING AMORTIZATION 522130 79929 79929 SALLIE MAE REFERRALS 522130 4036 4036 83965 39765164 33525047 0 6240117 1390882 64398 12672150 1056924 2518053 1087211 36000 85200 274008 555339 1967563 2532367 1900205 163165 199550 2620748 547156 623322 DIVIDENDS PAID TO MEMBE 1778904 PROVISION FOR LOAN LOSS 1307958 CREDIT CARD EXPENSES 1100374 CHECKING EXPENSE 679519 1462690 36623686 3306392 2266829 61483968 17746380 522544080 574563531 1361987 1307650 20991731 16024150 5424405 4967581 22765645 19768984 176889477 203495876 6866771 6749807 8537963 8664060 809180688 839530698 6182600 6769782 0 847090 5000000 70101038 0 2616000 692136869 668715877 703319469 749049787 X 0 0 0 0 105861219 90480911 105861219 90480911 809180688 839530698 X 3141478 -18535846 14060 X X 0 0 0 15000 15000 15000 1 CREDIT UNION POLITICAL ACTION COUNCIL 1807 WEST DIEHL RD NAPERVILLE IL 605667107 363092340 15000 0 PART I-A, LINE 1: CORPORATE AMERICA FAMILY CREDIT UNION CONTRIBUTES TO THE CREDIT UNION POLITICAL ACTION COUNCIL AND THE FEDERAL PAC OF THE CREDIT UNION NATIONAL ASSOCIATION (CUNA), IN SUPPORT OF THE CREDIT UNION MOVEMENT. 0 1 X 1215974 1215974 4422341 2356076 2066265 4991122 4422613 568509 6834475 6042445 792030 3527819 3203016 324803 4967581 8650000 C US GOVT AND US GOVT AGENCY BONDS 150133491 F CERTIFICATES OF DEPOSIT 19846330 F BANK OWNED LIFE INSURANCE 12171405 C NCUSIF DEPOSIT 6076597 C CORPORATE BONDS 3874065 F CORPORATE CREDIT UNION CAPITAL 2743988 C 203495876 MEMBER SHARES 668715877 668715877 PART IV, LINE 2B: CORPORATE AMERICA FAMILY CREDIT UNION HAS ESCROW ACCOUNTS TO PAY FOR REAL ESTATE TAXES AND HOMEOWNERS INSURANCE ON BEHALF OF ITS MEMBERS. 1 X X 0 1 0 PETER PAULSON PRESIDENT/CEO 381390 0 0 0 0 0 203472 0 35680 0 620542 0 0 0 ELLEN MEEHAN SENIOR VICE PRESIDENT 192246 0 0 0 0 0 19730 0 27684 0 239660 0 0 0 ANDREW BOWEN VICE PRESIDENT 157350 0 0 0 0 0 16383 0 39696 0 213429 0 0 0 CAROL HOEM SENIOR VICE PRESIDENT 163358 0 0 0 0 0 16281 0 26022 0 205661 0 0 0 MATTHEW HELMS SENIOR VICE PRESIDENT 149271 0 0 0 0 0 15438 0 28437 0 193146 0 0 0 STEVEN OLSON VICE PRESIDENT 143467 0 0 0 0 0 13072 0 13259 0 169798 0 0 0 LAURA KIRILUK VICE PRESIDENT 126884 0 0 0 0 0 13042 0 26489 0 166415 0 0 0 JOSEPH SHULTZ VICE PRESIDENT 131664 0 0 0 0 0 13022 0 19366 0 164052 0 0 0 FAITH MYERS VICE PRESIDENT 136241 0 0 0 0 0 12720 0 9216 0 158177 0 0 0 DAN KADOLPH SENIOR VICE PRESIDENT/CFO 110886 0 0 0 0 0 0 0 704 0 111590 0 0 0 PART I, LINE 4B PETER PAULSON, PRESIDENT, PARTICIPATES IN A NON-QUALIFIED 457(F) SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN. THE TOTAL 2022 EMPLOYER CONTRIBUTIONS INTO THE PLAN ON BEHALF OF THE INDIVIDUAL IN THE AMOUNT OF $172,175 IS REPORTED AS DEFERRED COMPENSATION ON FORM 990, PART VII AND SCHEDULE J, PART II. THERE WERE NO DISTRIBUTIONS IN 2022. NAN YOUNG FAMILY MEMBER OF CAROL HOEM 64398 COMPENSATION 0 FORM 990, PART VI, SECTION A, LINE 6 CORPORATE AMERICA FAMILY CREDIT UNION HAS MEMBERS AS SPECIFIED IN ITS BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A CORPORATE AMERICA FAMILY CREDIT UNION MEMBERS HAVE THE POWER TO ELECT MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 8B CORPORATE AMERICA FAMILY CREDIT UNION DOES NOT HAVE COMMITTEES WITH AUTHOORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD MEMBERS WERE PROVIDED WITH A COPY OF THE FORM 990 VIA THE BOARD INTRANET WITH TIME TO REVIEW AND COMMENT PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C CORPORATE AMERICA FAMILY CREDIT UNION HAS A CODE OF PROFESSIONAL STANDARDS, WHICH INCLUDES A SECTION ON AVOIDING CONFLICTS OF INTEREST. THE POLICY IS DISTRIBUTED ANNUALLY AND ALL STAFF AND BOARD MEMBERS ARE REQUIRED TO ACKNOWLEDGE THE CODE. THE CODE ALSO EXPLAINS WHO TO CONTACT IN SUCH A SITUATION. SELF REPORTING IS EXPECTED. ALL SUBMITTED INFORMATION IS THOROUGHLY INVESTIGATED BY HUMAN RESOURCES. THE HUMAN RESOURCES DEPARTMENT ALSO MONITORS FOR CONFLICTS ON AN ONGOING BASIS THROUGH CORPORATE AMERICA FAMILY CREDIT UNION TAKES SERIOUSLY THE STANDARDS SET FORTH IN THE CODE, AND VIOLATIONS ARE CAUSE FOR DISCIPLINARY ACTION UP TO AND INCLUDING TERMINATION OF EMPLOYMENT. VIOLATIONS BY THE BOARD OF DIRECTORS SHOULD BE REFERRED TO THE CHAIRMAN AND/OR SUPERVISORY COMMITTEE FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 15A A SALARY SURVEY IS PREPARED ANNUALLY BY THE HUMAN RESOURCES DEPARTMENT. INFORMATION IS GATHERED FROM INDEPENDENT SOURCES AND IMPACTS ALL POSITIONS IN THE ORGANIZATION. EXECUTIVE MANAGEMENT MEETS WITH HUMAN RESOURCES TO REVIEW GRADE LEVELS AND PAY RANGES FOR ALL EMPLOYEES. THE CHAIRPERSON REVIEWS THE SALARY SURVEY PRIOR TO RECOMMENDING THE PRESDIENT/CHIEF EXECUTIVE OFFICER'S SALARY. THE PRESDIENT/CHIEF EXECUTIVE OFFICER'S SALARY IS SUBJECT TO BOARD APPROVAL. KEY EMPLOYEE COMPENSATION, OTHER THAN THE CHIEF EXECUTIVE OFFICER, IS NOT SUBJECT TO BOARD APPROVAL AND IS APPROVED BY THE CHIEF EXECUTIVE OFFICER. THE OCCURANCE OF THIS PROCESS IS CONTEMPORANEOUSLY DOCUMENTED IN THE BOARD MINUTES. THIS PROCESS LAST OCCURED IN FEBRUARY 2023. FORM 990, PART VI, SECTION C, LINE 19 CORPORATE AMERICA FAMILY CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST IN THE SAME TIME AND MANNER AS OTHER DISCLOSURES REQUIRED UNDER INTERNAL REVENUE CODE SECTION 6104. FORM 990, PART XI, LINE 9: CHANGE IN NET ASSETS OF WHOLLY OWNED SUBSIDIARY 14,060. FORM 990, PART IV, LINE 12A & PART XII, LINE 2B: THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AUDITED ON A CONSOLIDATED BASIS BY AN INDEPENDENT ACCOUNTANT. HOWEVER, THE FINANCIAL STATEMENTS ARE AUDITED ON A FISCAL YEAR-END BASIS OF MARCH 31ST, WHILE THE ORGANIZATION'S TAX YEAR-END IS DECEMBER 31ST. FORM 990, PART I, LINES 14 & 17: IN 2022, CORPORATE AMERICA FAMILY CREDIT UNION DETERMINED THAT IT WAS MORE APPROPRIATE TO INCLUDE IN THE PRIOR YEAR COLUMN FOR LINE 17 (OTHER EXPENSES) CERTAIN IMTEMS INCLUDED IN PRIOR YEAR FORMS 990, PART IX, IN LINE 4 (BENEFITS PAID TO OR FOR MEMBERS). CONFORMING ADJUSTMENTS HAVE BEEN MADE TO THE CURRENT YEAR AMOUNTS LISTED IN THE CURRENT YEAR COLUMN OF PART I AND PART IX. CORPORATE AMERICA FINANCIAL SERVICES INC 2075 BIG TIMBER ROAD ELGIN IL 601231140 364108945 INSURANCE/NONMEMBER ACTIVITY IL CORPORATE AMERICA FAMILY CREDIT UNION C 445169 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 CORPORATE AMERICA FINANCIAL SERVICES INC O 115977 FAIR MARKET VALUE CORPORATE AMERICA FINANCIAL SERVICES INC Q 56484 FAIR MARKET VALUE CORPORATE AMERICA FINANCIAL SERVICES INC R 186522 FAIR MARKET VALUE