2021-11-12T15:52:56-06:00 2020-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2020-01-01 362523206 IH MISSISSIPPI VALLEY CREDIT UNION IHMI 3097936200 2500 RIVER DRIVE MOLINE IL 61265 DARLENE REED VP TREASURER 3097936200 2021-11-12 1 DARLENE REED 999009999 TANYA MEDGAARDEN P01717240 5074347000 2021-11-12 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z X ALLAN HOSACK 2500 RIVER DRIVE MOLINE IL 61265 101110388 0 X IHMVCU.ORG X 1934 IL PROVIDE CONSUMER, MORTGAGE, AND BUSINESS LOANS AND DEPOSIT SERVICES TO OVER 136,676 MEMBERS. 10 10 500 10 296302 168959 0 0 92146477 97696330 3617117 1098000 1359 9034 95764953 98803364 113003 109000 0 13369690 27326096 32501090 0 0 0 56714945 45831072 84154044 91810852 11610909 6992512 1477272406 1695743488 1350069158 1559902442 127203248 135841046 PROVIDE CONSUMER, MORTGAGE, AND BUSINESS LOANS AND DEPOSIT SERVICES TO OVER 136,676 MEMBERS. 0 0 PROVIDE CONSIDERABLE LOANS TO MEMBERS. TOTAL CONSUMER AND BUSINESS LOANS PROVIDED WERE 77,561. TOTAL REAL ESTATE LOANS PROVIDED WERE 4,187. PROVIDED 250,139 DEPOSITORY ACCOUNTS TO APPROXIMATELY 136,676 MEMBERS. 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 40908 0 1 500 1 1 1 0 0 0 0 0 0 0 X 10 10 0 0 0 0 1 1 0 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X ALLAN HOSACK 3097936200 2500 RIVER DR MOLINE IL 61265 THOMAS TERRONEZ BOARD CHAIRMAN 2.00 X X 0 0 0 AJAY SINGH BOARD VICE CHAIR 2.00 X X 0 0 0 SAM KUPRESIN BOARD SECRETARY/TREASURER 2.00 X X 0 0 0 TIM CONSIDINE DIRECTOR 2.00 X 0 0 0 LARRY WIEMERS DIRECTOR 2.00 X 0 0 0 JEFF CARR DIRECTOR 2.00 X 0 0 0 KRISTIN GLASS DIRECTOR 2.00 X 0 0 0 MEGAN EARLY DIRECTOR 2.00 X 0 0 0 THOMAS CHIP IRWIN DIRECTOR 2.00 X 0 0 0 THOMAS KALE DIRECTOR 2.00 X 0 0 0 BRIAN LAUFENBERG PRESIDENT / CEO 40.00 X 624133 0 40880 ANN MCMILLIAN CHIEF OPERATING OFFICER 40.00 X 396738 0 40877 ALLAN HOSACK CHIEF FINANCIAL OFFICER 40.00 X 322304 0 38901 MATT JEFFERSON CHIEF DIGITAL OFFICER 40.00 X 331763 0 38665 LISA OLSON CHIEF RISK MANAGEMENT OFFI 40.00 X 388707 0 31313 ANDREW GROTHE SVP OF BUSINESS LENDING 40.00 X 212694 0 33058 KRISTI RIFFE SVP FINANCE 40.00 X 176660 0 18578 KEVIN DUNCALF VP OF BUSINESS DEVELOPMENT 40.00 X 192203 0 13770 JORDAN BOHALL VP ANALYTICS 40.00 X 239556 0 19425 RON GAUVIN VP OF STRATEGIC INITIATIVE 40.00 X 178202 0 20129 CHAD ERVIN VP COMMERCIAL LENDING DEPT 40.00 X 181791 0 30207 ROBERT ROSEMAN VP INDIRECT BUSINESS DEVEL 40.00 X 287654 0 29875 CURT JOURDAN VP OF TECHNOLOGY 40.00 X 170977 0 24391 LINDSEY RAMOS SVP MEMBER EXPERIENCE 40.00 X 179984 0 30581 DANIELLE SONS VP OF ACCOUNTING/CONTROLLE 40.00 X 458403 0 31726 BARBARA MEYERS VP REMOTE DELIVERY 40.00 X 163140 0 29249 RANDY TRAUB VP OF UNDERWRITING & LOAN 40.00 X 179385 0 25195 JAMES LEGARE VP BUSINESS UNDERWRITING 40.00 X 172625 0 28395 CURTIS JOHNSTON VP OF MORTGAGE 40.00 X 153738 0 28703 BENJAMIN ABBOTT VP OF DIGITAL SERVICES 40.00 X 150737 0 28484 JULIE STICKNEY SVP TALENT MGT 40.00 X 190140 0 31239 LAURA BURKHOLDER VP OF CREDIT RISK 40.00 X 138546 0 16268 AMY ORR VP OF MARKETING 40.00 X 123424 0 27189 AMY BYTNAR VP PMO 40.00 X 173334 0 7544 KRISTEN DOONAN VP RISK MANAGEMENT 40.00 X 119793 0 8445 RICH DUSSLIERE VP INFORMATION SECURITY 40.00 X 55823 0 440 DARLENE REED VP TREASURER 40.00 X 131206 0 15947 6093660 0 689474 26 0 1 0 EQUIFAX INFORMATION SERVICES LLC 1550 PEACHTREE ST NW ATLANTA GA 30309 CREDIT REPORTS 226231 TR HOLDINGS LLC 3245 E 35TH STREET COURT DAVENPORT IA 52807 LEASE PAYMENT 214665 EXECTUVICE MAINTENANCE LLC PO BOX 4864 ROCK ISLAND IL 612014864 CLEANING SERVICES 178011 CLIFTONLARSONALLEN LLP 220 S 6TH STE 300 MINNEAPOLIS MN 55402 ACCOUNTING 176333 MEDIACOM IOWA LLC 1 MEDIACOM WAY MEDIACOM PARK NY 10918 INTERNET 173406 13 INTEREST ON LOANS 522100 68504876 68504876 FEE INCOME 522100 23695939 23695939 MORTGAGE SERVICING RIGHTS 522100 4659474 4659474 INSURANCE COMMISSIONS 524298 580073 548773 31300 ATM SURCHARGE FEES 522100 179799 179799 76169 76169 97696330 1979704 1979704 1425320 2307024 -881704 -881704 -881704 K-1 INCOME - MEMBERS DEVELOPMENT 522100 9034 9034 9034 98803364 96527358 296302 1979704 80000 29000 13369690 6783128 19354494 1450865 2963597 1949006 193336 304836 1479874 1041898 7482470 2727308 146888 1253799 3248108 FEDERAL AND STATE UBIT 114000 PROVISION FOR LOAN LOSS 15483865 VISA CARD EXPENSES 4810708 PROGRAM/SERVICES EXPENS 4681971 2862011 91810852 46177953 135885202 11485381 1233190529 1333886115 67048030 13966690 55714484 53081340 92368412 118557632 16755680 18444508 33065348 24403310 1477272406 1695743488 14065077 15554761 98450000 47950000 1237554081 1496397681 1350069158 1559902442 X 0 0 0 0 127203248 135841046 127203248 135841046 1477272406 1695743488 X 6992512 1645287 -1 X X 0 1 X 1 0 15000 15000 15000 1 CREDIT UNION PAC 1807 W DIEHL ROAD PO BOX 3107 NAPERVILLE IL 605667107 361255150 15000 PART I-A, LINE 1: CONTRIBUTED FUNDS TO THE CREDIT UNION POLITICAL ACTION COMMITTEE (CUPAC) 9427026 9427026 43230126 9241463 33988663 14390878 4725227 9665651 53081340 MEMBER SHARES AND CERTIFICATES 1495997681 SUBORDINATED DEBENTURE 400000 1496397681 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER INTERNAL REVENUE CODE 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES, AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS 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 CONSOLIDATED FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2020 AND 2019. THE CREDIT UNION'S 2017 THROUGH 2019 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. THE INCOME FROM THE CUSO, ORGANIZED AS AN LLC, FLOWS THROUGH TO THE CREDIT UNION, AND THEREFORE, IS NOT SUBJECT TO FEDERAL AND STATE INCOME TAXES OTHER THAN UNRELATED BUSINESS INCOME TAX. 0 BIG BROTHERS BIG SISTERS QC 130 W 5TH ST DAVENPORT IA 52801 421320908 510(C)(3) 5500 CORPORATE DONATION IA CU LEAGUE PO BOX 10409 DES MOINES IA 50306 421438113 510(C)(3) 10000 CORPORATE DONATION IL CU FOUNDATION PO BOX 3107 NAPERVILLE IL 60566 362994028 510(C)(3) 20000 CORPORATE DONATION UNITED WAY OF THE QUAD CITIES AREA 852 MIDDLE ROAD SUITE 401 BETTENDORF IA 52722 362725960 501(C)(3) 6000 CORPORATE PLEDGE AND DONATION UNITED SERVICE ORGANIZATION OF ILLINOIS INC 333 S WABASH AVE 16TH FLOOR CHICAGO IL 60604 362349617 501(C)(3) 10000 CORPORATE DONATION BOYS AND GIRLS CLUBS OF THE MISSISSIPPI VALLEY 338 6TH ST MOLINE IL 61265 363838421 501(C)(3) 19500 CORPORATE DONATION RIVER BEND FOODBANK 4010 KIMMEL DR DAVENPORT IA 52801 363147342 501(C)(3) 9000 CORPORATE DONATION 7 STUDENT SCHOLARSHIPS 12 29000 2020 CLASS SCHOLARSHIPS PART I, LINE 2: ALL STUDENT SCHOLARSHIPS ARE PAID DIRECTLY TO THE SCHOOL OF THE STUDENT'S CHOICE. X X 1 1 X X X 0 1 0 BRIAN LAUFENBERG PRESIDENT / CEO 486500 0 137633 0 0 0 19950 0 20930 0 665013 0 0 0 DANIELLE SONS VP OF ACCOUNTING/CONTROLLE 163077 0 295326 0 0 0 11377 0 20349 0 490129 0 0 0 ANN MCMILLIAN CHIEF OPERATING OFFICER 305589 0 91149 0 0 0 19950 0 20927 0 437615 0 0 0 LISA OLSON CHIEF RISK MANAGEMENT OFFI 254750 0 133957 0 0 0 17111 0 14202 0 420020 0 0 0 MATT JEFFERSON CHIEF DIGITAL OFFICER 254525 0 77238 0 0 0 17817 0 20848 0 370428 0 0 0 ALLAN HOSACK CHIEF FINANCIAL OFFICER 257782 0 64522 0 0 0 18045 0 20856 0 361205 0 0 0 ROBERT ROSEMAN VP INDIRECT BUSINESS DEVEL 150064 0 137590 0 0 0 10505 0 19370 0 317529 0 0 0 JORDAN BOHALL VP ANALYTICS 121731 0 117825 0 0 0 8521 0 10904 0 258981 0 0 0 ANDREW GROTHE SVP OF BUSINESS LENDING 179539 0 33155 0 0 0 12568 0 20490 0 245752 0 0 0 JULIE STICKNEY SVP TALENT MGT 168180 0 21960 0 0 0 11772 0 19467 0 221379 0 0 0 CHAD ERVIN VP COMMERCIAL LENDING DEPT 154951 0 26840 0 0 0 10671 0 19536 0 211998 0 0 0 LINDSEY RAMOS SVP MEMBER EXPERIENCE 148993 0 30991 0 0 0 10429 0 20152 0 210565 0 0 0 KEVIN DUNCALF VP OF BUSINESS DEVELOPMENT 166679 0 25524 0 0 0 11668 0 2102 0 205973 0 0 0 RANDY TRAUB VP OF UNDERWRITING & LOAN 141814 0 37571 0 0 0 10704 0 14491 0 204580 0 0 0 JAMES LEGARE VP BUSINESS UNDERWRITING 146995 0 25630 0 0 0 10290 0 18105 0 201020 0 0 0 RON GAUVIN VP OF STRATEGIC INITIATIVE 155286 0 22916 0 0 0 10870 0 9259 0 198331 0 0 0 CURT JOURDAN VP OF TECHNOLOGY 149306 0 21671 0 0 0 10451 0 13940 0 195368 0 0 0 KRISTI RIFFE SVP FINANCE 144240 0 32420 0 0 0 10327 0 8251 0 195238 0 0 0 BARBARA MEYERS VP REMOTE DELIVERY 141573 0 21567 0 0 0 9910 0 19339 0 192389 0 0 0 CURTIS JOHNSTON VP OF MORTGAGE 134223 0 19515 0 0 0 9396 0 19307 0 182441 0 0 0 AMY BYTNAR VP PMO 150058 0 23276 0 0 0 5561 0 1983 0 180878 0 0 0 BENJAMIN ABBOTT VP OF DIGITAL SERVICES 132373 0 18364 0 0 0 8516 0 19968 0 179221 0 0 0 LAURA BURKHOLDER VP OF CREDIT RISK 120686 0 17860 0 0 0 8448 0 7820 0 154814 0 0 0 AMY ORR VP OF MARKETING 107631 0 15793 0 0 0 7534 0 19655 0 150613 0 0 0 PART I, LINE 4B 457(F) DEFERRED COMPENSATION PLAN BRIAN LAUFENBERG PRESIDENT/CEO SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 X 3771600 4312978 0 1 1 ANN MCMILLIAN CHIEF OPERATING OFFICER SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 X 1685331 1924704 0 1 1 LISA OLSON CHIEF RISK MANAGEMENT OFFICER SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 X 1003363 1142109 0 1 1 MATT JEFFERSON CHIEF DIGITAL OFFICER SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 X 1441201 1640490 0 1 1 ALLAN HOSACK CHIEF FINANCIAL OFFICER SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 X 2277784 2465100 0 1 1 11485381 FORM 990, PART VI, SECTION A, LINE 6 THERE IS A SINGLE CLASS OF MEMBERS. MEMBERS ARE REQUIRED TO MAINTAIN A $5 SHARE ACCOUNT. FORM 990, PART VI, SECTION A, LINE 7A VOTING IS BASED ON A ONE MEMBER, ONE VOTE BASIS. PROXIES ARE IN PLACE FOR BOARD TO VOTE SHARES. FORM 990, PART VI, SECTION B, LINE 11B THE RETURN PREPARER PROVIDED A COPY OF THE FINAL VERSION OF FORM 990 TO THE CHIEF FINANCIAL OFFICER BEFORE IT WAS FILED. THE CFO, ALLAN HOSACK, REVIEWED THE FORM 990 BEFORE IT WAS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY BY THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE PRESIDENT'S COMPENSATION BASED UPON COMPARATIVE MARKET RESEARCH AND SALARY INFORMATION. THE COMPENSATION OF THE OTHER HIGH LEVEL OFFICERS AND KEY EMPLOYEES IS BASED UPON COMPENSATION SURVEYS. AN OUTSIDE CONSULTING FIRM IS THEN USED TO REVIEW THE SALARIES FOR APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE PROVIDED UPON REQUEST. FORM 990, PART XI, LINE 9: ROUNDING -1. FORM 990, PART XII, LINE 2C THE OVERSIGHT AND SELECTION PROCESS FOR THE INDEPENDENT ACCOUNTANT WHO AUDITS THE ORGANIZATION'S FINANCIAL STATEMENTS HAS NOT CHANGED SINCE THE PRIOR YEAR. FORM 990, PART I, LINE 6 THERE WERE 9 VOLUNTEER BOARD MEMBERS AND 2 ADDITIONAL VOLUNTEERS ON THE SUPERVISORY COMMITTEE FOR A TOTAL OF 11 VOLUNTEERS. MEMBERS FINANCIAL LLC 801 TECH DRIVE MILAN IL 61264 320091317 HOLDING COMPANY IL 32012 4042730 MEMBERS PROPERTY MANAGEMENT LLC 801 TECH DRIVE MILAN IL 61264 260224070 PROPERTY MANAGEMENT IL 263002 3459321 MEMBERS FINANCIAL LLC MEMBERS INSURANCE SERVICES LLC 801 TECH DRIVE MILAN IL 61264 320091314 INSURANCE IL 267557 674465 MEMBERS FINANCIAL LLC