2022-11-15T12:49:46-06:00 2021-12-31 420714325 RSM US LLP 4650 EAST 53RD STREET DAVENPORT IA 528073479 990 2021-01-01 360760135 CORPORATE AMERICA FAMILY CREDIT UNION CORP 8472142000 2075 BIG TIMBER RD ELGIN IL 601231140 DANIEL KADOLPH CHIEF FINANCIAL OFFICER 8472142000 2022-11-15 1 DANIEL KADOLPH 999009999 JENIFER L CHASE P01306883 5638884000 2022-11-15 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z PETER PAULSON 2075 BIG TIMBER RD ELGIN IL 601231140 35664995 0 X WWW.CAFCU.ORG X 1939 IL CORPORATE AMERICA FAMILY CREDIT UNION (CAFCU) IS A NOT FOR PROFIT, MEMBER OWNED AND DIRECTED FINANCIAL COOPERATIVE DEDICATED TO BEING THE PRIMARY FINANCIAL INSTITUTION FOR ITS MEMBERS. 8 7 271 7 0 0 0 0 32961725 30108739 2135615 2685003 0 267354 35097340 33061096 0 0 2574361 2101995 18153212 18425272 0 0 0 12553991 11543896 33281564 32071163 1815776 989933 765694790 809180688 657573131 703319469 108121659 105861219 CORPORATE AMERICA FAMILY CREDIT UNION (CAFCU) 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 67,238 MEMBERS. 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 4,128 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 303 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 0 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 0 0 0 0 0 0 0 1 1 1 0 1 10185 0 1 271 1 0 0 0 0 0 0 0 0 X 8 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 X DAN KADOLPH 8472142012 2075 BIG TIMBER ROAD ELGIN IL 601231140 PETER PAULSON PRESIDENT 40.00 X X 454629 0 236191 COSTANZO MAESTRANZI CHAIR 1.00 X X 0 0 0 THOMAS SHEPPARD VICE CHAIR 1.00 X X 0 0 0 KENNETH NAATZ SECRETARY 1.00 X X 0 0 0 JOHN BLOZIS TREASURER 1.00 X X 0 0 0 PAULA BLONSKI DIRECTOR 1.00 X 0 0 0 GLENN BROWN DIRECTOR 1.00 X 0 0 0 THOMAS RIECK DIRECTOR 1.00 X 0 0 0 ELLEN MEEHAN SENIOR VICE PRESIDENT 40.00 X 201755 0 46418 CAROL HOEM SENIOR VICE PRESIDENT 40.00 X 168135 0 40740 MATTHEW HELMS SENIOR VICE PRESIDENT 40.00 X 157925 0 41100 GLENN MILLER SENIOR VICE PRESIDENT 40.00 X 132134 0 31328 ANDREW BOWEN VICE PRESIDENT 40.00 X 143254 0 53518 FAITH MYERS VICE PRESIDENT 40.00 X 134546 0 29737 LAURA KIRILUK VICE PRESIDENT 40.00 X 127955 0 38598 STEVE OLSON VICE PRESIDENT 40.00 X 146369 0 24836 1666702 0 542466 10 0 1 0 FISERV 255 FISERV DRIVE PO BOX 979 BROOKFIELD WI 530080979 CORE SYSTEM PROVIDER 1639910 AT&T PO BOX 8580 CAROL STREAM IL 601975080 COMMUNICATIONS/DATA 329792 MICRODYNAMICS CORP 8580 SOLUTIONS CENTER CHICAGO IL 606778005 STATEMENT PROVIDER 324100 8X8 INC DEPT 848080 LOS ANGELES CA 900848080 COMMUNICATIONS 258833 THE DESIGNER'S DESK INC 259 JANDUS RD CARY IL 60013 MARKETING/SUPPLIES 232692 14 LOAN INCOME 522130 23078091 23078091 FEE INCOME 522130 6869761 6869761 OTHER OPERATING REVENUE 522130 160887 160887 30108739 2552789 2552789 2736113 2603899 132214 132214 132214 PURCHASE ACCOUNTING AMORTIZATION 522130 263609 263609 SALLIE MAE REFERRALS 522130 3745 3745 267354 33061096 30376093 0 2685003 2101995 1339651 12243700 1217227 2685413 939281 8000 74407 284853 401910 1995590 2578676 1649380 59034 46371 111188 592508 437966 CREDIT CARD EXPENSES 1121245 CHECKING EXPENSE 578405 PROVISION FOR LOAN LOSS 204085 CREDIT BUREAU EXPENSE 121063 1279215 32071163 2229373 3306392 65929057 61483968 551258778 522544080 850065 1361987 20680143 15255738 5490537 5424405 22299193 22765645 102468030 176889477 7001914 6866771 8167843 8537963 765694790 809180688 7114460 6182600 7000000 5000000 5260000 0 638198671 692136869 657573131 703319469 X 0 0 0 0 108121659 105861219 108121659 105861219 765694790 809180688 X 989933 -3234120 -16253 X X 0 0 0 15000 15000 15000 1 CREDIT UNION POLITICAL ACTION COUNCIL 1807 WEST DIEHL RD NAPERVILLE IL 605667107 363092340 15000 PART I-A, LINE 1: THE 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. 1215974 1215974 4422341 2310404 2111937 4831740 4202991 628749 2401704 1658576 743128 7808384 7083767 724617 5424405 1166900 C US GOVT AND US GOVT AGENCY BONDS 130165640 F CERTIFICATES OF DEPOSIT 20501015 F BANK OWNED LIFE INSURANCE 11609340 C NCUSIF DEPOSIT 6518104 C CORPORATE BONDS 4184490 F CORPORATE CREDIT UNION CAPITAL 2743988 C 176889477 MEMBER SHARES 692136869 692136869 X X 1 1 X X 0 1 0 PETER PAULSON PRESIDENT 454629 0 0 0 0 0 200884 0 35307 0 690820 0 0 0 ELLEN MEEHAN SENIOR VICE PRESIDENT 201755 0 0 0 0 0 19005 0 27413 0 248173 0 0 0 CAROL HOEM SENIOR VICE PRESIDENT 168135 0 0 0 0 0 15513 0 25227 0 208875 0 0 0 MATTHEW HELMS SENIOR VICE PRESIDENT 157925 0 0 0 0 0 14481 0 26619 0 199025 0 0 0 ANDREW BOWEN VICE PRESIDENT 143254 0 0 0 0 0 14349 0 39169 0 196772 0 0 0 STEVE OLSON VICE PRESIDENT 146369 0 0 0 0 0 12379 0 12457 0 171205 0 0 0 LAURA KIRILUK VICE PRESIDENT 127955 0 0 0 0 0 12451 0 26147 0 166553 0 0 0 FAITH MYERS VICE PRESIDENT 134546 0 0 0 0 0 11603 0 18134 0 164283 0 0 0 GLENN MILLER SENIOR VICE PRESIDENT 132134 0 0 0 0 0 12565 0 18763 0 163462 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS/SIGNIFICANT OTHER REIMBURSEMENT FOR BOARD DIRECTORS IS AUTHORIZED IF IT IS REASONABLE, APPROPRIATE, AND NECESSARY TO CARRY ON CREDIT UNION RELATED BUSINESS. SIGNIFICANT OTHER REIMBURSEMENT FOR EMPLOYEES MUST HAVE PRIOR APPROVAL BY THE PRESIDENT/CEO. PAYMENTS FOR TRAVEL EXPENSES OF A SIGNIFICANT OTHER IS CONSIDERED TAXABLE INCOME. HEALTH OR SOCIAL CLUB DUES: THE EMPLOYEE WELLNESS PROGRAM WILL PROVIDE HALF OF THE COST, WITH A MAXIMUM REIMBURSEMENT OF $300, TO EMPLOYEES PARTICIPATING IN ALLOWABLE PROGRAMS THAT CONTRIBUTE TO THEIR OVERALL HEALTH AND WELFARE FOR THE CALENDAR YEAR. ANY REIMBURSEMENT FOR HEALTH CLUB DUES/WELLNESS PROGRAMS ARE INCLUDED AS TAXABLE INCOME. PART I, LINE 4B PETER PAULSON, PRESIDENT, PARTICIPATES IN A NON-QUALIFIED 457(F) RETIREMENT PLAN. THE COMPENSATION IS APPROPRIATELY REPORTED IN PART VII COLUMN D AND SCHEDULE J, PART II, COLUMN (C). THERE WERE NO DISTRIBUTIONS IN 2021. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF COMPETITIVE SHARE AND LOAN RATES. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. 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 IRS. 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. 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/CEO'S SALARY. THE PRESDIENT/CEO'S SALARY IS SUBJECT TO BOARD APPROVAL. KEY EMPLOYEE COMPENSATION, OTHER THAN THE CEO, IS NOT SUBJECT TO BOARD APPROVAL AND IS APPROVED BY THE CEO. FORM 990, PART VI, SECTION C, LINE 19 THE ANNUAL REPORTS ARE AVAILABLE ON THE CREDIT UNION WEBSITE. CONFLICT OF INTEREST POLICY/CODE OF PROFESSIONAL STANDARDS AND GOVERNING DOCUMENTATION ARE AVAILABLE UPON REQUEST. DOCUMENTS ARE AVAILABLE FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XI, LINE 9: CHANGE IN NET ASSETS OF WHOLLY OWNED SUBSIDIARY -16,253. FORM 990, PART IV, LINE 12A & PART XII, LINE 2B THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AUDITED ON A SEPARATE BASIS BY AN INDEPENDENT ACCOUNTANT. HOWEVER, THE FINANCIAL STATEMENTS ARE AUDITED ON A FISCAL YEAR-END BASIS, WHILE THE ORGANIZATION'S TAX YEAR-END IS DECEMBER 31ST. CORPORATE AMERICA FINANCIAL SERVICES INC 2075 BIG TIMBER ROAD ELGIN IL 601231140 364108945 INSURANCE/NONMEMBER ACTIVITY IL CORPORATE AMERICA FAMILY CREDIT UNION C 138490 431109 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 106047 ARMS LENGTH CORPORATE AMERICA FINANCIAL SERVICES INC Q 48696 ARMS LENGTH CORPORATE AMERICA FINANCIAL SERVICES INC R 138490 ARMS LENGTH