2022-11-14T17:41:36-06:00 2021-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2021-01-01 390716655 HEARTLAND CREDIT UNION HEAR 6082827000 5325 HIGH CROSSING BLVD MADISON WI 53718 ANGELA HANSON PRESIDENT/CEO 6082827000 2022-11-09 1 ANGELA HANSON 999009999 TANYA MEDGAARDEN P01717240 5074347000 2022-11-09 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z ANGELA HANSON 5325 HIGH CROSSING BLVD MADISON WI 53718 16803924 0 X WWW.HEARTLANDCU.ORG X 1936 WI TO PROVIDE QUALITY, COST-EFFECTIVE, PERSONALIZED FINANCIAL SERVICES FOR OUR MEMBERS' WELL-BEING. 6 6 99 12 72643 18980 0 0 17733754 16687566 207273 98598 5142 817 17946169 16786981 0 0 1930530 962844 7090844 7418165 0 0 0 6375356 6046605 15396730 14427614 2549439 2359367 362351818 399175240 332886321 367029672 29465497 32145568 TO PROVIDE OUR MEMBERS WITH QUALITY, COST-EFFECTIVE, PERSONALIZED FINANCIAL SERVICES THAT CONTRIBUTE TO THEIR SOCIAL AND ECONOMIC WELL-BEING. 0 0 WE ORIGINATED 2,861 NEW LOANS DURING 2021. AS OF 12/31/21, WE HAD 1,704 MORTGAGES/HOME EQUITY LINES, 7,078 CONSUMER LOANS, AND 711 MEMBER BUSINESS LOANS. WE ALSO HAD 5,002 CREDIT CARD ACCOUNTS WITH OUR MEMBERS. WE HAVE DEPOSIT, TRANSACTION AND INVESTMENT ACCOUNTS WITH 21,538 OF OUR MEMBERS AT 12/31/21. DURING 2021, WE OPENED 4,402 NEW DEPOSIT, TRANSACTION AND INVESTMENT ACCOUNTS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 5952 0 99 1 1 1 0 0 0 0 0 0 0 X 6 6 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 X SALLY DISCHLER 6082827000 5325 HIGH CROSSING BLVD MADISON WI 53718 RHONDA HOLLFELDER CHAIR 1.00 X X 0 0 0 MARC JONES VICE-CHAIR 1.00 X X 0 0 0 JIM DALTON TREASURER 1.00 X X 0 0 0 DAVID DIGIOVANNI SECRETARY 1.00 X X 0 0 0 ANDREW BAKER DIRECTOR 1.00 X 0 0 0 LISA MAYNE DIRECTOR 1.00 X 0 0 0 JIM DROGUE DIRECTOR - PART YEAR 1.00 X 0 0 0 LUCY HARR DIRECTOR - PART YEAR 1.00 X 0 0 0 MATT DAVIS DIRECTOR - PART YEAR 1.00 X 0 0 0 SALLY DISCHLER PRESIDENT/CEO 40.00 X 279118 0 24677 STEVE FARNSWORTH COO/EVP 40.00 X 171762 0 15802 APRIL OSHIRO RESIDENTIAL MORTGAGE LENDE 40.00 X 150730 0 17583 ANGELA HANSON CIO/SVP 40.00 X 153692 0 9899 SHAWN REDMAN CLO/SVP 40.00 X 129492 0 12803 LYLE HANSEN CTO 40.00 X 119933 0 22111 KEVIN FEATHERSTON-CROWE CFO/SVP 40.00 X 126784 0 13844 1131511 0 116719 7 0 1 0 LA MACCHIA GROUP 157 N MILWAUKEE ST MILWAUKEE WI 53202 BUILDING CONTRACTOR 1969200 CORELATION INC 2305 HISTORIC DECATUR RD 300 SAN DIEGO CA 92106 DATA PROCESSOR 1133978 WORLDPAY INC 8500 GOVERNORS HILL DR SYMMES TOWNSHIP OH 45249 DATA PROCESSOR 562575 CU ANSWERS INC 6000 28TH ST SE GRAND RAPIDS MI 49546 DATA PROCESSOR 522409 BURTON KARSTEDT ADVERTISING & MARKETING 2336 HIGH POINT DRIVE LINDENHURST IL 60046 ADVERTISING SERVICES 229709 9 INTEREST ON LOANS 522100 11688197 11688197 OTHER OPERATING INCOME 522100 3851946 3779303 72643 FEE INCOME 522100 1147423 1147423 16687566 115541 115541 16943 -16943 -16943 -16943 OTHER NON-INTEREST INCOME 522100 817 817 817 16786981 16615740 72643 98598 962844 1248230 4650972 573446 561557 383960 9295 34100 508967 477971 361307 277932 610561 3980 58330 1117652 68401 MEMBER ACCOUNT/CARD COS 1560130 LOAN SERVICING 679290 PROVISION FOR LOAN LOSS 172511 OTHER EXPENSES 106178 14427614 3163118 2999206 52894385 65809230 4394558 3493912 15929187 17207202 269494175 290387922 637260 653960 19445489 7112589 7862296 12332900 496000 100000 2892750 3289403 4588089 2901505 362351818 399175240 6183582 6055890 4000000 5000000 322702739 355973782 332886321 367029672 X 0 0 0 0 29465497 32145568 29465497 32145568 362351818 399175240 X 2359367 320704 X 0 0 0 1824047 1824047 10661151 2708804 7952347 173794 173794 0 6357113 3874061 2483052 429384 355930 73454 12332900 MEMBER SHARE & DEPOSITS 352508174 NET PENSION LIABILITY 3117608 NONMEMBER DEPOSITS 348000 355973782 X PART X, LINE 2: AS ALLOWED BY STATE REGULATORY AUTHORITIES, THE AUDIT IS DONE AS OF SEPTEMBER 30. THE REPORTING PERIOD FOR THE AUDIT, THEREFORE, DOES NOT MATCH THE REPORTING PERIOD FOR THE 990. PER FOOTNOTE 1 IN THE CREDIT UNION'S SEPTEMBER 30, 2021 AUDITED FINANCIAL STATEMENTS, THE CREDIT UNION IS EXEMPT, UNDER IRC SECTION 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES THEY HAVE DEEMED TAXABLE. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN IS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF SEPTEMBER 30, 2021 AND 2020. THE CREDIT UNION'S 2018 THROUGH 2020 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. 0 0 0 SALLY DISCHLER PRESIDENT/CEO 235868 0 43250 0 0 0 15559 0 9118 0 303795 0 0 0 STEVE FARNSWORTH COO/EVP 142802 0 28960 0 0 0 9526 0 6276 0 187564 0 0 0 APRIL OSHIRO RESIDENTIAL MORTGAGE LENDE 150730 0 0 0 0 0 8247 0 9336 0 168313 0 0 0 ANGELA HANSON CIO/SVP 133856 0 19836 0 0 0 8388 0 1511 0 163591 0 0 0 SALLY DISCHLER PRESIDENT SPLIT-DOLLAR LIFE INSURANCE X 7000000 8135682 0 1 1 STEVEN FARNSWORTH EVP SPLIT-DOLLAR LIFE INSURANCE X 1250000 1633849 0 1 1 STEVEN FARNSWORTH EVP SPLIT-DOLLAR LIFE INSURANCE X 1241800 1443270 0 1 1 KEVIN CROWE CFO SPLIT-DOLLAR LIFE INSURANCE X 1225434 1531397 0 1 1 ANGELA HANSON CIO SPLIT-DOLLAR LIFE INSURANCE X 1268263 1529485 0 1 1 DIANNE JENTZ VP BUSINESS LENDING SPLIT-DOLLAR LIFE INSURANCE X 1223904 1584919 0 1 1 SHAWN REDMAN CLO/SVP SPLIT-DOLLAR LIFE INSURANCE X 1248800 1348600 0 1 1 17207202 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION CONSISTS OF MEMBERS. TO BE A MEMBER, ONE MUST HAVE A SHARE/SAVINGS ACCOUNT. EACH MEMBER HAS ONE VOTE TO ELECT THE GOVERNING BODY (BOARD OF DIRECTORS). FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS ELECTED BY THE MEMBERSHIP UTILIZING THEIR ONE VOTE PER MEMBER. FORM 990, PART VI, SECTION A, LINE 7B EACH MEMBER HAS ONE VOTE TO UTILIZE IN RATIFYING SIGNIFICANT DECISIONS BEYOND THE AUTHORITY OF THE BOARD AS OUTLINED IN THE ORGANIZATIONS BYLAWS. ANY DECISION TO DISSOLVE OR MERGE THE ORGANIZATION REQUIRES APPROVAL OF MEMBERSHIP, UNLESS MANDATED BY REGULATORY AGENCY (I.E NCUA, WISCONSIN OFFICE OF CREDIT UNIONS) FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED FOR ERRORS AND OMMISSIONS FIRST BY CREDIT UNION EXECUTIVES, THEN A SUMMARY IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, ALL EMPLOYEES AND VOLUNTEERS ARE REQUIRED TO COMPLETE A DISCLOSURE OF ALL KNOWN RELATIONSHIPS WHICH MAY GIVE RISE TO CONFLICTS. THESE DISCLOSURES ARE MONITORED BY CREDIT UNION MANAGEMENT FOR COMPLIANCE. FORM 990, PART VI, SECTION B, LINE 15A TO DETERMINE CEO COMPENSATION, THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS REVIEWED ANNUAL CEO GOALS, CUES EXECUTIVE COMPENSATION SALARY DATA BY GEOGRAPHIC REGION, CREDIT UNION FINANCIAL RESULTS SPECIFICALLY THE ROA, AND THE PROJECTED BUDGET FOR THE COMING YEAR. THE EXECUTIVE COMMITTEE THEN MET IN PRIVATE TO DETERMINE THE COMPENSATION. THE MINUTES OF THE CEO REVIEW AND EXECUTIVE COMMITTEE WERE DOCUMENTED BY THE BOARD SECRETARY. THE BOARD CHAIRMAN THEN PROVIDED THE RESULTS TO THE REVIEW AND COMPENSATION TO THE ENTIRE BOARD DURING THE CLOSED SESSION. THIS WAS MOST RECENTLY COMPLETED IN 2021. FORM 990, PART VI, SECTION C, LINE 19 WE POST OUR FINANCIAL STATEMENTS IN ALL BRANCH LOBBIES ON A MONTHLY BASIS. FORM 990, PART XI, LINE 9: CHANGE IN EQUITY ACQUIRED IN MERGER 318,762. CHANGE IN OCI 1,942.