AFFINITY CREDIT UNION: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- AFFINITY CREDIT UNION (EIN 42-0794732)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-08-11
- IRS object ID
- 202502239349301210
- Schema version
- 2024v5.2
- 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 | 2025-08-11T13:29:05-05:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 410746749 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CLIFTONLARSONALLEN LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 109 N MAIN STREET SUITE 200 | AddressLine1Txt |
| City | AUSTIN | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55912 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 420794732 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | AFFINITY CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | AFFI | BusinessNameControlTxt |
| Phone | 5152887225 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 475 NW HOFFMAN LANE | AddressLine1Txt |
| City | DES MOINES | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 50313 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JEREMY SMITH | PersonNm |
| Person Title | CEO | PersonTitleTxt |
| Phone | 5152887225 | PhoneNum |
| Signature | 2025-07-29 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | TANYA MEDGAARDEN | PreparerPersonNm |
| PTIN | P01717240 | PTIN |
| Phone | 5074347000 | PhoneNum |
| Preparation | 2025-07-29 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | JEREMY SMITH | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 475 NW HOFFMAN LANE | AddressLine1Txt |
| City | DES MOINES | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 50313 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $11,941,140 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.AFFINITYCUIA.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1949 | FormationYr |
| Legal Domicile State | IA | LegalDomicileStateCd |
| Activity Or Mission | AFFINITY CREDIT UNION'S MISSION IS BUILDING BETTER LIVES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 48 | TotalEmployeeCnt |
| Total Volunteers | 7 | TotalVolunteersCnt |
| Total Gross UBI | $59,086 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $8,728,726 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $7,204,500 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,157,792 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,426,436 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $2,130,737 | CYOtherRevenueAmt |
| PY Total Revenue | $9,886,518 | PYTotalRevenueAmt |
| CY Total Revenue | $10,761,673 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $17,000 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $98,010 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $1,086,329 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $1,634,403 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $3,494,167 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $3,703,239 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $3,867,125 | PYOtherExpensesAmt |
| CY Other Expenses | $4,067,320 | CYOtherExpensesAmt |
| PY Total Expenses | $8,464,621 | PYTotalExpensesAmt |
| CY Total Expenses | $9,502,972 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,421,897 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $1,258,701 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $142,200,244 | TotalAssetsBOYAmt |
| Total Assets EOY | $148,645,606 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $127,580,467 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $132,344,703 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $14,619,777 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $16,300,903 | NetAssetsOrFundBalancesEOYAmt |
| Mission | BUILDING BETTER LIVES BY WORKING IN YOUR BEST INTEREST, TO SIMPLIFY YOUR LIFE, PROVIDE SOLUTIONS TO HELP YOU ACHIEVE FINANCIAL SUCCESS AND ENRICH OUR COMMUNITIES. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | AFFINITY CREDIT UNION PROVIDES A WIDE VARIETY OF SERVICES TO ITS MEMBERS INCLUDING ECONOMICAL SAVINGS, CHECKING AND OTHER DEPOSIT SERVICES IN ADDITION TO CONSUMER, REAL ESTATE, AND BUSINESS LOANS. AFFINITY CREDIT UNION ALSO PROVIDES VARIOUS FINANCIAL ASSISTANCE/EDUCATION FOR MEMBERS OF ALL AGES. AFFINITY SERVED 13,561 MEMBERS IN 2024. | Desc |
| 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 | 0 | 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 | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | 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 | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | 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 | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 2144 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 48 | 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 |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| 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 | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | Yes (1) | LocalChaptersInd |
| Policies Reference Chapters | Yes (1) | PoliciesReferenceChaptersInd |
| 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 | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | IA | StatesWhereCopyOfReturnIsFldCd |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | CARMEN WOOLEY | PersonNm |
| Phone | 5157777792 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 475 NW HOFFMAN LANE | AddressLine1Txt |
| City | DES MOINES | CityNm |
| State Abbreviation | IA | StateAbbreviationCd |
| ZIP | 50313 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (11 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| LEE ROY PORTER | |||||||
| TREASURER | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| JAMES MARTENS | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| AARON OLSON | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| CARA HARRIS | |||||||
| BOARD CHAIR | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| ISABELLE HANSON | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| WILLIAM DOWNING | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| TERRY JONES | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| KRIS LAUFER | |||||||
| CMO | 50.00 | Yes (X) | $162,579 | $0 | $11,960 | ||
| JEREMY SMITH | |||||||
| CEO | 50.00 | Yes (X) | $207,635 | $0 | $27,781 | ||
| CARMEN WOOLEY | |||||||
| CFO | 50.00 | Yes (X) | $162,920 | $0 | $22,956 | ||
| BRIAN GOETZINGER | |||||||
| VICE PRESIDENT OF LENDING | 50.00 | $177,650 | $0 | $12,716 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $710,784 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $75,413 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 4 | 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 |
|---|---|---|---|---|---|
| CU ANSWERS | |||||
| 6000 28TH STREET SE STE 100 | GRAND RAPIDS | MI | 49546 | CORE SOFTWARE | $547,438 |
| CORELATION INC | |||||
| 2305 HISTORIC DECATUR ROAD SUITE 3 | SAN DIEGO | CA | 92106 | CORE SOFTWARE | $478,722 |
| CENTURY AUTOMOTIVE SERVICE | |||||
| 6000 28TH STREET SE STE 100 | ALBUQUERQUE | NM | 87110 | MECHANICAL BREAKDOWN | $289,655 |
| ACCESS SYSTEMS | |||||
| 1055 SE OLSON DRIVE | WAUKEE | IA | 50263 | IT | $112,875 |
| JAMES DEAN | |||||
| 673 CHERRY CREEK WAY | THE VILLAGES | FL | 34762 | PROFESSIONAL CONSULTANT | $110,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 5 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| LOAN INTEREST | 522100 | $6,217,429 | $6,217,429 | |
| FEE INCOME | 522100 | $987,071 | $927,985 | $59,086 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $7,204,500 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,520,769 | TotalRevenueColumnAmt |
| Exclusion | $1,520,769 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,041,845 | SecuritiesAmt |
| Other | $43,289 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,097,684 | SecuritiesAmt |
| Other | $81,783 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$55,839 | SecuritiesAmt |
| Other | -$38,494 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$94,333 | TotalRevenueColumnAmt |
| Exclusion | -$94,333 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER INCOME | Desc |
| Business | 522100 | BusinessCd |
| Total Revenue Column | $2,130,737 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $2,130,737 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $2,130,737 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $10,761,673 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $9,276,151 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $59,086 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,426,436 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $98,010 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,634,403 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $595,831 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,338,710 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $96,950 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $392,114 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $279,634 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,884 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $97,595 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $697,025 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $143,849 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $573,068 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $116,510 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $263,183 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $32,359 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $47,693 | TotalAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $20,094 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $183,114 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $62,933 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| DEBIT/CREDIT CARD EXPEN | $972,482 |
| PROVISION FOR CREDIT LO | $316,179 |
| LOAN EXPENSES | $272,382 |
| OTHER EXPENSES | $258,970 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,502,972 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,563,884 | BOYAmt |
| EOY | $1,547,141 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,417,641 | BOYAmt |
| EOY | $13,591,014 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $566,460 | BOYAmt |
| EOY | $62,037 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $98,752,907 | BOYAmt |
| EOY | $102,237,716 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $333,807 | BOYAmt |
| EOY | $263,301 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $7,571,617 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $3,080,197 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,020,047 | BOYAmt |
| EOY | $4,491,420 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,300,679 | BOYAmt |
| EOY | $23,065,921 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $603,400 | BOYAmt |
| EOY | $601,900 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,641,419 | BOYAmt |
| EOY | $2,785,156 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $142,200,244 | BOYAmt |
| EOY | $148,645,606 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,082,120 | BOYAmt |
| EOY | $2,471,093 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $124,498,347 | BOYAmt |
| EOY | $129,873,610 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $127,580,467 | BOYAmt |
| EOY | $132,344,703 | 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 | $5,470,834 | BOYAmt |
| EOY | $5,822,009 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,148,943 | BOYAmt |
| EOY | $10,478,894 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,619,777 | BOYAmt |
| EOY | $16,300,903 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $142,200,244 | BOYAmt |
| EOY | $148,645,606 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $1,258,701 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $422,426 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$1 | 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) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $913,186 | OtherCostOrOtherBasisAmt |
| Book Value | $913,186 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,353,672 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,163,253 | DepreciationAmt |
| Book Value | $2,190,419 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,267,966 | OtherCostOrOtherBasisAmt |
| Depreciation | $916,944 | DepreciationAmt |
| Book Value | $351,022 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,036,793 | OtherCostOrOtherBasisAmt |
| Book Value | $1,036,793 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $4,491,420 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (2 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| AFS SECURITIES | $22,469,973 | F |
| EQUITY SECURITIES | $595,948 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $23,065,921 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBER SHARES | Desc |
| Amt | $129,873,610 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $129,873,610 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $10,761,673 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $10,761,673 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $10,761,673 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $9,502,972 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $9,502,972 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $9,502,972 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION IS EXEMPT BY STATUE FROM FEDERAL AND STATE INCOME TAXES. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. THE CREDIT UNION EVALUATES UNCERTAIN TAX BENEFITS ARISING FROM TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN UPON THE LIKELIHOOD OF BEING SUSTAINED UPON EXAMINATION BY APPLICABLE TAX AUTHORITIES. IF THE CREDIT UNION DETERMINES THAT A TAX POSITION IS MORE LIKELY THAN NOT OF BEING SUSTAINED, IT RECOGNIZES THE LARGEST AMOUNT OF THE ARISING BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED UPON SETTLEMENT IN THE FINANCIAL STATEMENTS. ANY TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT DO NOT PASS THE MORE LIKELY THAN NOT TEST, THE CREDIT UNION ESTABLISHES RESERVES OFFSETTING THE BENEFITS RELATED TO SUCH POSITIONS. INTEREST AND PENALTIES, IF ANY, ARE INCLUDED IN THE CURRENT PERIOD PROVISION FOR INCOME TAXES IN THE CREDIT UNION'S STATEMENT OF INCOME AND ARE INCLUDED AS A CURRENT LIABILITY IN THE BALANCE SHEET. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | 0 | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (5 entries)
| Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|
| BIG BROTHERS BIG SISTERS | ||||
| 421184999 | 501(C)(3) | $31,560 | $0 | CHARITY DONATION |
| FOOD BANK OF IOWA | ||||
| 421177880 | 501(C)(3) | $23,000 | $0 | CHARITY DONATION |
| PROJECT IOWA INC | ||||
| 800731028 | 501(C)(3) | $23,000 | $0 | CHARITY DONATION |
| IOWA CREDIT UNION FOUNDATION | ||||
| 421438113 | 501(C)(3) | $10,050 | $0 | CHARITY DONATION |
| THE ALS ASSOCIATION | ||||
| 300051272 | 501(C)(3) | $5,400 | $0 | CHARITY DONATION |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 5 | Total501c3OrgCnt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| 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 (4 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JEREMY SMITH | ||||||||||||||
| CEO | $180,485 | $0 | $17,600 | $0 | $9,550 | $0 | $14,813 | $0 | $12,968 | $0 | $235,416 | $0 | $0 | $0 |
| BRIAN GOETZINGER | ||||||||||||||
| VICE PRESIDENT OF LENDING | $136,775 | $0 | $33,500 | $0 | $7,375 | $0 | $0 | $0 | $12,716 | $0 | $190,366 | $0 | $0 | $0 |
| CARMEN WOOLEY | ||||||||||||||
| CFO | $123,200 | $0 | $38,120 | $0 | $1,600 | $0 | $9,911 | $0 | $13,045 | $0 | $185,876 | $0 | $0 | $0 |
| KRIS LAUFER | ||||||||||||||
| CMO | $118,499 | $0 | $36,130 | $0 | $7,950 | $0 | $9,779 | $0 | $2,181 | $0 | $174,539 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 3 | FormAndLineReferenceDesc |
| Explanation | THE ANNUAL NAFCU AND GALLAGHER COMPENSATION AND BENEFITS REPORT, CU PERFORMANCE SOLUTIONS COMPEASE SYSTEM WITH BENCHMARKED JOBS ARE BOTH RESOURCES FOR COMPARISON. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE ORGANIZATION IS A CREDIT UNION WITH MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE ENTIRE BOARD OF DIRECTORS IS VOTED ON BY THE MEMBERS OF THE CREDIT UNION. EVERY YEAR THERE ARE THREE POSITIONS UP FOR ELECTION FOR THREE-YEAR TERMS (7 BOARD MEMBERS). BOARD MEMBERS COME OUT OF THE GENERAL MEMBERSHIP AND ANY MEMBER, AGE 16 OR OLDER, IN GOOD STANDING CAN RUN FOR THE BOARD. A MEMBER IN GOOD STANDING IS ONE WHO IS NOT DELINQUENT ON LOAN PAYMENTS, HAS THE MINIMUM $5 MEMBERSHIP AMOUNT ON DEPOSIT, AND HAS NOT CAUSED THE CREDIT UNION A LOSS (CHARGE OFF). EACH MEMBER HAS ONE VOTE FOR EACH OPEN POSITION. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE MEMBERSHIP OF THE CREDIT UNION IS REQUIRED TO VOTE ON ANY ACTION THAT WOULD CHANGE THE BYLAWS OF THE CREDIT UNION. THIS INCLUDES BUT IS NOT LIMITED TO NAME CHANGE, MERGERS, AND CHARTER CONVERSION (CHANGING STRUCTURE AWAY FROM A CREDIT UNION). |
| FORM 990, PART VI, SECTION B, LINE 11B | THE CEO AND CFO REVIEW THE FORM AFTER THE CPA FIRM COMPLETES IT BASED ON THE INFORMATION PROVIDED TO THEM BY THE CREDIT UNION. AFTER THE FORM HAS BEEN REVIEWED BY MANAGEMENT, COPIES ARE MADE AND GIVEN TO THE BOARD OF DIRECTORS TO REVIEW BEFORE THE CEO SIGNS THE RETURN. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY. THE BOARD OF DIRECTORS AND MANAGEMENT ARE RESPONSIBLE FOR MONITORING. NO DIRECTOR OR CREDIT UNION OFFICIAL HAVING INVESTMENT AUTHORITY WILL CONDUCT PERSONAL TRANSACTIONS WITH ANY OF THE INDIVIDUAL BROKERS THE CREDIT UNION DOES BUSINESS WITH. IN ADDITION, NO DIRECTOR, CREDIT UNION OFFICIAL OR THEIR IMMEDIATE FAMILY WILL RECEIVE ANY FINANCIAL CONSIDERATION IN CONNECTION WITH THE MAKING OF ANY INVESTMENT. FAMILY MEMBERS OF EMPLOYEES ARE TRACKED INTERNALLY AND ARE FLAGGED IN OUR CORE SYSTEM. WE RECEIVE REPORTS FROM AUDITLINK IF A TRANSACTION/ACCOUNT MAINTENANCE IS DONE BY AN EMPLOYEE ON A FAMILY MEMBERS ACCOUNT. IF THERE IS A CONFLICT OF INTEREST THEN THE EMPLOYEE WOULD RECEIVE DISCIPLINARY ACTION UP TO AND INCLUDING TERMINATION. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE CEO'S COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS, WHO OBTAINS INPUT FROM A 3RD PARTY COMPANY TO HELP DETERMINE A COMPENSATION PACKAGE. COMPENSATION SURVEYS ARE USED BY THE BOARD AND 3RD PARTY TO HELP DETERMINE AN APPROPRIATE COMPENSATION. THE DECISION IS DOCUMENTED IN THE BOARD MINUTES. WITH THE ASSISTANCE OF COMPEASE, A THIRD PARTY VENDOR, THE CEO CREATES THE MERIT INCREASE MATRIX. SUPERVISORS COMPLETE ANNUAL PERFORMANCE EVALUATIONS FOR EACH OF THEIR EMPLOYEES AND THE EVALUATIONS ARE REVIEWED BY THE CEO. ONCE THE EVALUATIONS ARE COMPLETED A SCORE IS COMPILED. THE SCORE IS PLUGGED INTO THE COMPEASE SOFTWARE TO DETERMINE THE PAY INCREASE, IN ADDITION TO A COMPARISON OF THE EMPLOYEES COMP RATIO. THE CEO THEN PREPARES A SUMMARY FOR THE CFO TO ENTER THE INCREASES INTO THE HR PORTAL. THE INCREASES ARE THEN APPROVED BY OASIS. THE SUMMARY IS KEPT ELECTRONICALLY IN THE PAYROLL FILE. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY OF EACH OF THE BRANCHES. |
| FORM 990, PART XI, LINE 9: | ROUNDING -1. |
| FORM 990, PART XII, LINE 2C: | NO CHANGES FROM PRIOR YEAR. |