VIBRANT CREDIT UNION: Form 990, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- VIBRANT CREDIT UNION (EIN 36-6068452)
- Tax period
- 2021-01-01 to 2021-12-31
- Filed
- 2022-11-14
- IRS object ID
- 202223189349317272
- Schema version
- 2021v4.2
- 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 | 2022-11-14T17:07:17-06:00 | ReturnTs |
| Tax Period End | 2021-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 420714325 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RSM US LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4650 EAST 53RD STREET | AddressLine1Txt |
| City | DAVENPORT | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 528073479 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2021-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 366068452 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VIBRANT CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | VIBR | BusinessNameControlTxt |
| Phone | 8003235109 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6600 44TH AVE | AddressLine1Txt |
| City | MOLINE | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 61265 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MATTHEW MCCOMBS | PersonNm |
| Person Title | PRESIDENT/CEO | PersonTitleTxt |
| Phone | 8003235109 | PhoneNum |
| Signature | 2022-11-14 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | MATTHEW | PersonFirstNm |
| Person Last | MCCOMBS | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JENIFER L CHASE | PreparerPersonNm |
| PTIN | P01306883 | PTIN |
| Phone | 5638884000 | PhoneNum |
| Preparation | 2022-11-14 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | Yes (X) | AddressChangeInd |
| Principal Officer | MATTHEW MCCOMBS | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6600 44TH AVE | AddressLine1Txt |
| City | MOLINE | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 61265 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $207,987,047 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.VIBRANTCREDITUNION.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1935 | FormationYr |
| Legal Domicile State | IL | LegalDomicileStateCd |
| Activity Or Mission | WORKING TOGETHER TO IMPROVE THE ECONOMIC WELL-BEING AND QUALITY OF LIFE FOR ALL MEMBERS THROUGH EXCELLENT SERVICE. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 8 | VotingMembersIndependentCnt |
| Total Employee | 309 | TotalEmployeeCnt |
| Total Volunteers | 8 | TotalVolunteersCnt |
| Total Gross UBI | $2,173,008 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $617,798 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $32,353,540 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $30,796,947 | CYProgramServiceRevenueAmt |
| PY Investment Income | $5,552,505 | PYInvestmentIncomeAmt |
| CY Investment Income | $5,246,039 | CYInvestmentIncomeAmt |
| PY Other Revenue | $12,264,859 | PYOtherRevenueAmt |
| CY Other Revenue | $14,293,433 | CYOtherRevenueAmt |
| PY Total Revenue | $50,170,904 | PYTotalRevenueAmt |
| CY Total Revenue | $50,336,419 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $13,130 | 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 | $16,569,273 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $17,045,658 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $26,767,736 | PYOtherExpensesAmt |
| CY Other Expenses | $23,531,668 | CYOtherExpensesAmt |
| PY Total Expenses | $43,350,139 | PYTotalExpensesAmt |
| CY Total Expenses | $40,577,326 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $6,820,765 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $9,759,093 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $954,829,688 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,061,532,656 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $871,020,976 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $971,145,232 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $83,808,712 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $90,387,424 | NetAssetsOrFundBalancesEOYAmt |
| Mission | WORKING TOGETHER TO IMPROVE THE ECONOMIC WELL-BEING AND QUALITY OF LIFE FOR ALL MEMBERS THROUGH EXCELLENT SERVICE. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | PROVIDE CONSIDERABLE LOANS TO MEMBERS. TOTAL NUMBER OF CONSUMER AND MORTAGE LOANS OUTSTANDING WAS 26,982. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PROVIDED DEPOSITORY SERVICES TO APPROXIMATELY 55,636 MEMBERS. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PROVIDED CREDIT CARD SERVICES TO APPROXIMATELY 13,319 MEMBERS. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| 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 | Yes (1) | 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 | 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 | 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 | Yes (1) | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 54 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 309 | 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 | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 8 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | Yes (1) | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | 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 | 0 | 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 | MATTHEW MCCOMBS | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8003235109 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6600 44TH AVE | AddressLine1Txt |
| City | MOLINE | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 61265 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (17 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 |
|---|---|---|---|---|---|---|---|---|
| MATTHEW MCCOMBS | ||||||||
| PRESIDENT/CEO & SECRETARY | 40.00 | Yes (X) | Yes (X) | $469,295 | $0 | $56,910 | ||
| TERRY BRAHM | ||||||||
| TREASURER | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| MARK COOPER | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| NICK KREMER | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| MICHAEL PEASE | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| BRENT PETERSON | ||||||||
| VICE CHAIRMAN | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| TIM SCARLETT | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| NICK TARPEIN | ||||||||
| CHAIRMAN | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| KEVIN WOLFE | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| MEGAN ANDERSON | ||||||||
| CHIEF OPERATIONS OFFICER | 40.00 | Yes (X) | $186,854 | $0 | $37,917 | |||
| JOHN ERNST | ||||||||
| CHIEF BUSINESS OFFICER | 40.00 | Yes (X) | $161,821 | $0 | $36,336 | |||
| PETER NOHELTY | ||||||||
| CHIEF TECHNOLOGY OFFICER | 40.00 | $203,060 | $0 | $34,496 | Yes (X) | |||
| JAMES ALLISON | ||||||||
| MORTGAGE LOAN OFFICER | 40.00 | $165,656 | $0 | $24,299 | Yes (X) | |||
| AARON OHLENSEHLEN | ||||||||
| AGENCY PRESIDENT | 40.00 | $146,765 | $0 | $30,668 | Yes (X) | |||
| ASHLEE COOPER | ||||||||
| VP OF CREDIT ADMINISTRATION | 40.00 | $130,498 | $0 | $25,612 | Yes (X) | |||
| AUSTIN TAYLOR | ||||||||
| VP OF LOAN PROGRAM | 40.00 | $131,925 | $0 | $12,979 | Yes (X) | |||
| JENNIFER BOWE | ||||||||
| SVP IT & DEVELOPMENT | 40.00 | $129,456 | $0 | $11,590 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,725,330 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $270,807 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 23 | 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 |
|---|---|---|---|---|---|
| RUSSELL CONSTRUCTION CO INC | |||||
| 4700 E 53RD STREET | DAVENPORT | IA | 52807 | CONSTRUCTION | $9,610,092 |
| FISERV | |||||
| 255 FISERV DRIVE | BROOKFIELD | WI | 53045 | BANKING SOFTWARE AND SERVICE | $2,535,502 |
| NORTHPOINT COMMERCIAL CREDIT LLC | |||||
| 100 WASHINGTON AVENUE SOUTH SUITE | MINNEAPOLIS | MN | 55401 | EQUIPMENT LOAN FINANCING | $1,265,633 |
| AUTO APPROVE LLC | |||||
| 3923 RANCHERO DRIVE | ANN ARBOR | MI | 48108 | AUTO INSURANCE REFINANCING | $998,701 |
| ALKAMI TECHNOLOGY INC | |||||
| 5601 GRANITE PARKWAY STE 120 | PLANO | TX | 75024 | BANKING SOFTWARE AND SERVICE | $693,365 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 37 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| LOANS INTEREST | 522100 | $28,686,256 | $28,686,256 | |
| LOAN FEES | 522100 | $2,011,058 | $2,011,058 | |
| ATM FEES | 522100 | $99,633 | $25,959 | $73,674 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $30,796,947 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,058,999 | TotalRevenueColumnAmt |
| Exclusion | $2,058,999 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $15,091 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $15,091 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $15,091 | TotalRevenueColumnAmt |
| Exclusion | $15,091 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $9,144,439 | SecuritiesAmt |
| Other | $151,693,229 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $7,240,242 | SecuritiesAmt |
| Other | $150,410,386 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,904,197 | SecuritiesAmt |
| Other | $1,282,843 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,187,040 | TotalRevenueColumnAmt |
| Exclusion | $3,187,040 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| CHECKING FEE INCOME | 522100 | $4,917,141 | $4,917,141 |
| MISCELLANEOUS OPERATING INCOME | 522100 | $3,502,367 | $3,502,367 |
| OVERDRAFT CHARGES | 522100 | $2,298,206 | $2,298,206 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,560,628 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,461,294 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $2,099,334 | UnrelatedBusinessRevenueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $14,278,342 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $50,336,419 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $42,902,281 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $2,173,008 | UnrelatedBusinessRevenueAmt |
| Exclusion | $5,261,130 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,186,689 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,507,899 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $532,594 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,756,029 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,062,447 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $160,422 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,040,323 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $908,164 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,198,754 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,014,237 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,704,057 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,976 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $706,644 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,274,644 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,693 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| UNRELATED BUSINESS INCO | $1,552,582 |
| SERVICE CHARGES & VISA | $5,019,212 |
| DIVIDENDS PAID TO MEMBE | $3,041,373 |
| DATA PROCESSING EXPENSE | $3,006,753 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $882,834 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $40,577,326 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part X | Yes (X) | InfoInScheduleOPartXInd |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,001,000 | BOYAmt |
| EOY | $2,050,749 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $63,171,379 | BOYAmt |
| EOY | $31,968,903 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $50,907 | BOYAmt |
| EOY | $41,852 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,813,200 | BOYAmt |
| EOY | $9,263,200 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $728,495,627 | BOYAmt |
| EOY | $789,751,741 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,290,986 | BOYAmt |
| EOY | $6,099,395 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $50,469,452 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $18,983,312 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,072,880 | BOYAmt |
| EOY | $31,486,140 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $97,790,845 | BOYAmt |
| EOY | $154,260,268 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $26,142,864 | BOYAmt |
| EOY | $36,610,408 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $954,829,688 | BOYAmt |
| EOY | $1,061,532,656 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $82,615,599 | BOYAmt |
| EOY | $123,186,641 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $789,614 | BOYAmt |
| EOY | $843,029 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $787,615,763 | BOYAmt |
| EOY | $847,115,562 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $871,020,976 | BOYAmt |
| EOY | $971,145,232 | 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 | $83,808,712 | BOYAmt |
| EOY | $90,387,424 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $83,808,712 | BOYAmt |
| EOY | $90,387,424 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $954,829,688 | BOYAmt |
| EOY | $1,061,532,656 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $9,759,093 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$3,662,518 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $482,137 | 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 | $3,388,511 | OtherCostOrOtherBasisAmt |
| Book Value | $3,388,511 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $21,716,085 | OtherCostOrOtherBasisAmt |
| Depreciation | $9,965,426 | DepreciationAmt |
| Book Value | $11,750,659 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $24,433,271 | OtherCostOrOtherBasisAmt |
| Depreciation | $8,298,265 | DepreciationAmt |
| Book Value | $16,135,006 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $931,585 | OtherCostOrOtherBasisAmt |
| Depreciation | $719,621 | DepreciationAmt |
| Book Value | $211,964 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $31,486,140 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (3 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| MORTGAGE LOANS INVESTMENT | $146,216,790 | C |
| FEDERAL HOME LOAN BANK STOCK | $6,490,450 | C |
| MORTGAGE LOANS HELD FOR SALE | $1,553,028 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $154,260,268 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| MEMBERS' DEPOSITS ACCOUNTS | $689,872,886 |
| NONMEMBER CERTIFICATES OF DEPOSIT | $137,738,446 |
| DISCOUNT WINDOW LOAN | $19,504,230 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $847,115,562 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | VIBRANT CREDIT UNION COLLECTS AMOUNTS FROM MEMBERS WITH REAL ESTATE LOANS EACH MONTH VIA THEIR CONTRACTUAL PAYMENT SCHEDULE. THESE FUNDS ARE HELD IN ESCROW UNTIL THEY NEED TO BE DISBURSED IN ACCORDANCE WITH THE ESCROW INSTRUCTIONS FOR EACH MEMBER. AMOUNTS HELD IN ESCROW ARE FOR PROPERTY TAXES AND HOMEOWNER'S INSURANCE. |
| PART X, LINE 2: | VIBRANT CREDIT UNION IS EXEMPT FROM INCOME TAXES UNDER PROVISIONS OF THE INTERNAL REVENUE CODE AND STATES OF ILLINOIS AND IOWA TAX LAWS. THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DESCRIBED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANY STATES HAVE SIMILAR LAWS. THE SPECIFIC APPLICATION OF SECTION 512 TO THE VARIOUS ACTIVITIES CONDUCTED BY STATE-CHARTERED CREDIT UNIONS PRODUCES THE RISK THAT CERTAIN SOURCES OF INCOME ARE NOT RELATED TO THE EXEMPT PURPOSE OF A STATE-CHARTERED CREDIT UNION AND ARE SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). THE CREDIT UNION FILES INCOME TAX RETURNS FOR ITS UNRELATED BUSINESS INCOME. IN THE OPINION OF MANAGEMENT, ANY FURTHER LIABILITY ARISING FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL CONDITION OR RESULTS OF OPERATIONS. VARIOUS LEGAL CLAIMS ALSO ARISE FROM TIME TO TIME IN THE NORMAL COURSE OF BUSINESS WHICH, IN THE OPINION OF MANAGEMENT, WILL HAVE NO MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL STATEMENTS. MANAGEMENT HAS EVALUATED THE CREDIT UNION'S TAX POSITIONS THAT WOULD REQUIRE ADJUSTMENTS TO THE FINANCIAL STATEMENTS. GENERALLY, THE CREDIT UNION IS NO LONGER SUBJECT TO U.S. FEDERAL OR STATE AND LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2018. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | 0 | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | 0 | SubstantiationRequiredInd |
| 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 | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (7 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MATTHEW MCCOMBS | ||||||||||||||
| PRESIDENT/CEO & SECRETARY | $386,042 | $0 | $83,200 | $0 | $53 | $0 | $17,400 | $0 | $39,510 | $0 | $526,205 | $0 | $0 | $0 |
| PETER NOHELTY | ||||||||||||||
| CHIEF TECHNOLOGY OFFICER | $203,007 | $0 | $0 | $0 | $53 | $0 | $12,291 | $0 | $22,205 | $0 | $237,556 | $0 | $0 | $0 |
| MEGAN ANDERSON | ||||||||||||||
| CHIEF OPERATIONS OFFICER | $186,801 | $0 | $0 | $0 | $53 | $0 | $11,642 | $0 | $26,275 | $0 | $224,771 | $0 | $0 | $0 |
| JOHN ERNST | ||||||||||||||
| CHIEF BUSINESS OFFICER | $161,768 | $0 | $0 | $0 | $53 | $0 | $10,131 | $0 | $26,205 | $0 | $198,157 | $0 | $0 | $0 |
| JAMES ALLISON | ||||||||||||||
| MORTGAGE LOAN OFFICER | $165,603 | $0 | $0 | $0 | $53 | $0 | $10,060 | $0 | $14,239 | $0 | $189,955 | $0 | $0 | $0 |
| AARON OHLENSEHLEN | ||||||||||||||
| AGENCY PRESIDENT | $146,712 | $0 | $0 | $0 | $53 | $0 | $9,114 | $0 | $21,554 | $0 | $177,433 | $0 | $0 | $0 |
| ASHLEE COOPER | ||||||||||||||
| VP OF CREDIT ADMINISTRATION | $130,445 | $0 | $0 | $0 | $53 | $0 | $6,539 | $0 | $19,073 | $0 | $156,110 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 1A | FormAndLineReferenceDesc |
| Explanation | HEALTH CLUB DUES: THIS BENEFIT IS PROVIDED TO ONE TOP MANAGEMENT OFFICIAL OF VIBRANT CREDIT UNION. THE FAIR MARKET VALUE OF THE BENEFIT IS INCLUDED IN REPORTABLE COMPENSATION IN PART VII AND SCHEDULE J. | ExplanationTxt |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (3 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| TERRY BRAHM | |||||||
| DIRECTOR/OFFICER | COLLATERAL ASSIGNED SPLIT DOLLAR LIFE INSURANCE POLICY | Yes (X) | $4,601,151 | $4,601,151 | 0 | Yes (1) | Yes (1) |
| MATT MCCOMBS | |||||||
| DIRECTOR/OFFICER | COLLATERAL ASSIGNED SPLIT DOLLAR LIFE INSURANCE POLICY | Yes (X) | $1,212,049 | $1,212,049 | 0 | Yes (1) | Yes (1) |
| PETER NOHELTY | |||||||
| KEY EMPLOYEE | COLLATERAL ASSIGNED SPLIT DOLLAR LIFE INSURANCE POLICY | Yes (X) | $3,450,000 | $3,450,000 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $9,263,200 | TotalBalanceDueAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 5 | A MATERIAL DIVERSION OF VIBRANT CREDIT UNION'S ASSETS DID OCCUR DURING THE CALENDAR YEAR 2021. DETAILS ARE NOT CURRENTLY BEING DISCLOSED DUE TO AN ONGOING CRIMINAL INVESTIGATION. DETAILS CAN BE PROVIDED TO THE INTERNAL REVENUE SERVICE UPON REQUEST. |
| FORM 990, PART VI, SECTION A, LINE 6 | VIBRANT CREDIT UNION MEMBERS HAS MEMBERS AS PROVIDED IN ITS BYLAWS. |
| FORM 990, PART VI, SECTION A, LINE 7A | VIBRANT CREDIT UNION MEMBERS HAVE THE RIGHT TO ELECT THE MEMBERS OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 WILL BE REVIEWED BY THE ORGANIZATION'S CONTROLLER, AND A FINAL COPY WILL BE PROVIDED TO THE BOARD PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | A CONFLICT OF INTEREST WHICH IS UNACCEPTABLE IS BROADLY DEFINED AS AN INSIDER TAKING ADVANTAGE OF THEIR UNIQUE POSITION FOR PERSONAL GAIN AT THE EXPENSE OF THE CREDIT UNION. INSIDERS ARE BROADLY DEFINED AS BOARD MEMBERS, COMMITTEE MEMBERS, MANAGEMENT, STAFF, AND SUBSTANTIAL THIRD PARTY VENDORS, AND ARE MORE THOROUGHLY DEFINED BELOW. THE TEST FOR DETERMINING WHO IS AN INSIDER REQUIRES THE FOLLOWING TWO BASIC ELEMENTS: - THE EXISTENCE OF A RELATIONSHIP GIVING ACCESS, DIRECTLY OR INDIRECTLY TO INFORMATION INTENDED TO BE AVAILABLE ONLY FOR A CORPORATE PURPOSE AND NOT FOR THE PERSONAL BENEFIT OF ANYONE. - THE INHERENT UNFAIRNESS INVOLVED WHERE AN INSIDER TAKES ADVANTAGE OF SUCH INFORMATION KNOWING IT IS UNAVAILABLE TO THOSE WITH WHOM HE/SHE IS DEALING. TO IDENTIFY ANY POTENTIAL CONFLICTS OF INTEREST, IT WILL BE NECESSARY FOR EVERY INSIDER TO PROVIDE AN ANNUAL STATEMENT OUTLINING SPECIFIC RELATIONS AND SITUATIONS. ALL NEW HIRES AND NEW DIRECTORS WILL COMPLETE THE CONFLICT OF INTEREST STATEMENTS PRIOR TO EMPLOYMENT OR ELECTION. THE PRESIDENT/CEO OR HIS/HER DESIGNEE WILL BE RESPONSIBLE FOR THE COLLECTION AND RETENTION OF ALL DIRECTORS, MANAGEMENT, AND EMPLOYEE STATEMENTS. REVIEW OF DIRECTOR, MANAGEMENT, AND EMPLOYEE STATEMENTS IS THE RESPONSIBILITY OF THE INTERNAL AUDIT DEPARTMENT. INDIRECT CONFLICTS COULD INVOLVE SITUATIONS AS ROUTINE AS THE INSIDER OR SPOUSE MAINTAINING A NORMAL CONSUMER RELATIONSHIP WITH THE CREDIT UNION. THESE SITUATIONS ARE ROUTINELY DISCLOSED TO EXAMINERS AND AUDITORS IN THE NORMAL COURSE OF THEIR REVIEW OF OPERATIONS AND SHOULD BE CONSIDERED NORMAL FOR THE FINANCIAL SERVICES INDUSTRY. THE INSIDER IN THIS CASE RECEIVES NO MATERIAL SPECIAL CONSIDERATION AND PAYS THE SAME RATES AND GETS THE SAME SERVICE AS A REGULAR MEMBER. DIRECT CONFLICTS OF INTEREST NORMALLY INVOLVE A SITUATION WHICH WILL BENEFIT THE INSIDER FINANCIALLY. A DIRECTOR WHO PURCHASES A PROPERTY WITH INSIDER CONFIDENTIAL INFORMATION, KNOWING THE CREDIT UNION IS PLANNING TO DEVELOP IT AS A BRANCH OFFICE WOULD HAVE VIOLATED HIS FIDUCIARY DUTY AS A DIRECTOR AND CREATE A CONFLICT. AN EMPLOYEE WHO RECEIVED COMMISSIONS FROM A COMPANY THAT THE CREDIT UNION DID BUSINESS WITH AS A RESULT OF THE ACTIONS OF SAID EMPLOYEE WOULD BE IN CONFLICT. THE NUMBER OF EXAMPLES IS TOO NUMEROUS TO LIST, BUT THE MAIN DETERMINANT WOULD BE IF THE INSIDER BENEFITED EITHER DIRECTLY OR INDIRECTLY BECAUSE OF THEIR UNIQUE POSITION AS AN INSIDER. IN SOME SITUATIONS, A BOARD MEMBER MAY BE ENGAGED IN SERVICES OR BUSINESS ACTIVITIES FOR WHICH VIBRANT CREDIT UNION HAS A NEED. IN THESE INSTANCES, VIBRANT CREDIT UNION MAY ENGAGE IN THESE SERVICES OR ACTIVITIES WITH THE REVIEW AND APPROVAL OF THE BOARD. APPROVAL BY THE BOARD FOR THE SERVICES BEING PROVIDED WILL BE DOCUMENTED IN MONTHLY MINUTES. EACH SITUATION MUST BE HANDLED ON A CASE BY CASE BASIS BY THE BOARD OF DIRECTORS, PRESIDENT/CEO, AND OUTSIDE COUNSEL, IF REQUIRED. |
| FORM 990, PART VI, SECTION B, LINE 15A | IN JANUARY, THE EXECUTIVE COMMITTEE COMPLETES THE PRESIDENT/CEO'S ANNUAL REVIEW BASED ON THE COMPENSATION PHILOSOPHY PLAN THAT HAS BEEN APPROVED AND ESTABLISHED. BASED ON THE COMPENSATION PHILOSOPHY PLAN, THE PRESIDENT/CEO'S COMPENSATION IS DETERMINED AND APPROVED BY THE EXECUTIVE COMMITTEE AND DOCUMENTED THROUGH THE MEETING'S MINUTES. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. |
| FORM 990, PART X, COLUMN (A), LINES 1 & 2: | IN 2021, VIBRANT CREDIT UNION DETERMINED THAT IT WAS MORE APPROPRIATE TO INCLUDE IN COLUMN (B) (END OF YEAR) FOR LINES 1 (CASH - NON-INTEREST-BEARING) AND 2 (SAVINGS AND TEMPORARY CASH INVESTMENTS) CERTAIN ITEMS INCLUDED IN PRIOR YEAR FORMS 990 IN LINES 2 (SAVINGS AND TEMPORARY CASH INVESTMENTS) AND 1 (CASH - NON-INTEREST-BEARING), RESPECTIVELY. CONFORMING ADJUSTMENTS HAVE BEEN MADE TO THE CURRENT YEAR BEGINNING OF YEAR AMOUNTS LISTED IN COLUMN (A) OF PART X. |
| FORM 990, PART XI, LINE 9: | DEFINED BENEFIT PLAN NET ASSET 482,137. |
| FORM 990, PART XII, LINE 2C: | THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR TAX YEAR. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (8 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|
| VIBRANT HOLDINGS LLC | |||||||||
| 6600 44TH AVE | MOLINE | IL | 61265 | 824083713 | HOLDING COMPANY | IL | -$85,991 | $3,062,698 | VIBRANT CREDIT UNION |
| YOUR INSURANCE SERVICES LLC | |||||||||
| 6600 44TH AVE | MOLINE | IL | 61265 | 472114951 | INSURANCE SERVICES | IL | $368,868 | $202,198 | VIBRANT HOLDINGS LLC |
| VIBRANT PROPERTY MANAGEMENT LLC | |||||||||
| 6600 44TH AVE | MOLINE | IL | 61265 | 831611475 | RENTAL PROPERTIES | IL | -$239,776 | $1,826 | VIBRANT HOLDINGS LLC |
| NATIONAL ESCROW SERVICES LLC | |||||||||
| 414 61ST STREET | DES MOINES | IA | 50312 | 450706549 | TITLE COMPANY | IA | -$26,112 | $467,104 | VIBRANT HOLDINGS LLC |
| NES TITLE SERVICES LLC | |||||||||
| 6600 44TH AVE | MOLINE | IL | 61265 | 853064127 | TITLE COMPANY | IL | $0 | $0 | VIBRANT HOLDINGS LLC |
| YOUR FORECLOSURES LLC | |||||||||
| 6600 44TH AVE | MOLINE | IL | 61265 | 834334576 | HOLDS FORECLOSED PROPERTIES | IL | $0 | $0 | VIBRANT HOLDINGS LLC |
| HELLO EQUITY VENTURES LLC | |||||||||
| 6600 44TH AVE | MOLINE | IL | 61265 | 872805729 | SOFTWARE AS A SERVICE | IL | $0 | $319,005 | VIBRANT HOLDINGS LLC |
| COFFEEHOUSE BY VIBRANT LLC | |||||||||
| 6600 44TH AVE | MOLINE | IL | 61265 | 872832290 | COFFEE AND KITCHEN | IL | $0 | $1,000,000 | VIBRANT HOLDINGS LLC |