2021-11-15T11:47:23-06:00 2020-12-31 420714325 RSM US LLP 4650 E 53RD ST DAVENPORT IA 528073479 990 2020-01-01 421132695 VERIDIAN CREDIT UNION VERI 3192365600 1827 ANSBOROUGH AVENUE WATERLOO IA 507013629 KEITH J MESCH CHIEF FINANCIAL OFFICER 3192365600 2021-11-08 1 KEITH MESCH XXX-XX-XXXX JENIFER L CHASE P01306883 5638884000 2021-11-08 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z KEITH J MESCH 1827 ANSBOROUGH AVENUE WATERLOO IA 507013629 301322469 0 X WWW.VERIDIANCU.ORG X 1934 IA TO PROVIDE A VARIETY OF LOW OR NO COST SERVICES, LOW LOAN RATES, AND HIGHER SAVINGS RATES TO OUR MEMBERS, AND TO FULFILL OUR PHILOSOPHY OF "PEOPLE HELPING PEOPLE" BY PARTNERING WITH OUR MEMBERS TO CREATE SUCCESSFUL FINANCIAL FUTURES. OUR CURRENT FIELD OF MEMBERSHIP IS THE STATE OF IOWA, AS WELL AS 6 COUNTIES IN EASTERN NEBRASKA. 15 15 982 16 720690 361079 0 0 194510322 213372101 2356388 1584470 36028911 35729866 232895621 250686437 573903 766463 0 0 64877888 70391742 0 0 0 114482931 112795747 179934722 183953952 52960899 66732485 4348513312 5127625899 3898533722 4611198472 449979590 516427427 X TO PROVIDE A VARIETY OF LOW OR NO COST SERVICES, LOW LOAN RATES, AND HIGHER SAVINGS RATES TO OUR MEMBERS, AND TO FULFILL OUR PHILOSOPHY OF "PEOPLE HELPING PEOPLE" BY PARTNERING WITH OUR MEMBERS TO CREATE SUCCESSFUL FINANCIAL FUTURES. OUR CURRENT FIELD OF MEMBERSHIP IS THE STATE OF IOWA, AS WELL AS 6 COUNTIES IN EASTERN NEBRASKA. 0 0 VERIDIAN CREDIT UNION SERVED APPROXIMATELY 250,851 MEMBERS AT OUR CONVENIENT BRANCH LOCATIONS. VERIDIAN CREDIT UNION ADDED 33,583 NEW MEMBERSHIPS IN 2020. TOTAL LOANS AND DEPOSITS AT 12/31/2020 WERE 4,251,873,068 AND 4,379,393,302 RESPECTIVELY. 0 0 0 0 0 0 0 1 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 215943 0 1 982 1 1 1 0 0 0 0 0 1 0 X 15 15 1 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X KEITH J MESCH 3192366774 1827 ANSBOROUGH AVENUE WATERLOO IA 507013629 MONTE BERG FORMER PRESIDENT/CEO 50.00 X 1185540 0 102738 DOUGLAS GILBERTSON CHIEF OPERATIONS OFFICER 50.00 X 802852 0 132656 RENEE CHRISTOFFER PRESIDENT/CEO 50.00 X 581485 0 185205 GABRIEL WILCOX MORTGAGE LOAN ORIGINATOR 50.00 X 487427 0 63045 KEITH MESCH CHIEF FINANCIAL OFFICER 50.00 X 375272 0 132121 LORI HONERMANN MORTGAGE LOAN ORIGINATOR 50.00 X 363887 0 62024 CHRISTOPHER MCGOVERN MANAGER OF MORTGAGE LENDING 50.00 X 343534 0 38875 LYNETTE GILBERTSON SENIOR VP OF COMMERCIAL SERVICES 50.00 X 283798 0 69201 JOSHUA DUNHAM MORTGAGE LENDING SALES SUPERVISOR 50.00 X 280701 0 60140 BRETT ENGSTROM CHIEF INFORMATION OFFICER 50.00 X 243702 0 95421 MARK KOPPEDRYER SENIOR VP OF RETAIL 50.00 X 246900 0 81284 GREGORY SLESSOR SENIOR VP OF LEGAL 50.00 X 230798 0 84356 SHAWNA MATZ VP OF TALENT DEVELOPMENT 50.00 X 239742 0 66479 MELISSA GRIFFIN MORTGAGE LENDING SALES SUPERVISOR 50.00 X 233244 0 54614 KARA VANWERT SENIOR VP OF LENDING 50.00 X 209920 0 64934 TRACI MCBEE BOARD OF DIRECTOR 6.00 X 3086 0 0 GINGER SHIRLEY BOARD OF DIRECTOR 6.00 X 1735 0 0 CRESTON VAN WEY BOARD OF DIRECTOR 6.00 X 1102 0 0 PAMELA AYRES BOARD OF DIRECTOR 6.00 X 1014 0 0 JAMES KACHER BOARD OF DIRECTOR 6.00 X 970 0 0 WILLIAM BOEVERS BOARD OF DIRECTOR 6.00 X 963 0 0 JUSTINE PEEBLES BOARD OF DIRECTOR 6.00 X 665 0 0 THOMAS DELONG BOARD OF DIRECTOR 6.00 X 482 0 0 AUBREY WARD BOARD OF DIRECTOR 6.00 X 392 0 0 STEPHANIE ATKIN BOARD OF DIRECTOR 6.00 X 0 0 0 CYNTHIA BUETTNER BOARD OF DIRECTOR 6.00 X 0 0 0 PAUL GENGLER BOARD OF DIRECTOR 6.00 X 0 0 0 BOB KRESSIG BOARD OF DIRECTOR 6.00 X 0 0 0 DENNY SKELTON FORMER BOARD OF DIRECTOR 6.00 X 0 0 0 NICK WATERS BOARD OF DIRECTOR 6.00 X 0 0 0 GAYLEN WITZEL BOARD OF DIRECTOR 6.00 X 0 0 0 6119211 0 1293093 79 0 1 0 FISERV INC 75 REMITTANCE DR SUITE 1649 CHICAGO IL 60675 DATA PROCESSING 4105597 FLYNN WRIGHT 1408 LOCUST STREET DES MOINES IA 50309 ADVERTISING AGENCY 2751876 LANVERA LTD 112 WRANGLER DR 150 COPPELL TX 75019 DOCUMENT OUTSOURCING 2441721 ALKAMI TECHNOLOGY INC 5601 GRANITE PKWY 120 PLANO TX 75024 DATA PROCESSING 2183331 PRIMUS 401 8TH AVE SE CEDAR RAPIDS IA 52401 CONSTRUCTION SERVICES 938601 88 INTEREST INCOME - LOANS TO MEMBER 522100 181561066 181561066 FEES AND CHARGES 522100 19711965 19711965 ATM - POINT OF SALE 522100 4670942 4317967 352975 SALE OF SERVICES 522100 3927644 3559929 367715 INTEREST INCOME - MEMBER INVESTME 522100 3108817 3108817 391667 391667 213372101 721073 721073 561192 601447 -40255 -40255 -40255 48640484 2257498 48584796 1449789 55688 807709 863397 863397 VISA INTERCHANGE 522100 22114156 22114156 OVERDRAFT/NSF FEES 522100 12466564 12466564 MISCELLANEOUS INCOME 900099 1189401 1189401 35770121 250686437 248421532 720690 1544215 766463 5454223 45221147 6653451 9666044 3396877 4437368 323823 63837 731634 4060613 5557310 4001982 5086987 116812 324218 49488755 5064215 UNRELATED BUSINESS TAXE 75827 PROVISION FOR LOAN LOSS 12305527 LOAN SERVICING 9086443 PAYMENT SYSTEMS 7494976 4575420 183953952 26334627 37825471 58859503 374042777 33973151 46305157 741433 693580 3933555310 4224788842 6346214 6350179 115953700 42308400 70780261 73645300 176379443 316675150 41543370 47299443 4348513312 5127625899 50641395 61066055 3224130 2066372 13394242 13548769 178905678 168672747 3652368277 4365844529 3898533722 4611198472 X 0 0 0 0 449979590 516427427 449979590 516427427 4348513312 5127625899 X 66732485 1720984 -2005632 X X 0 1 X 1 0 0 1 X 20169725 20169725 57232026 17770360 39461666 3467742 1490055 1977687 33734765 23047985 10686780 1349442 1349442 73645300 BONDS - AVAILABLE FOR SALE 178752711 F CORPORATE CREDIT UNIONS 30000000 C CERTIFICATES OF DEPOSIT 47498010 C FHLB OF DES MOINES 11964800 C FCT ACCOUNT 39855131 F CUSO & EQUITY INVESTMENTS 8604498 C 316675150 SHARE SAVINGS 1075894992 SHARE DRAFT 876324921 MONEY MARKET 774230636 CERTIFICATES 1432751847 IRA 206642133 4365844529 X PART IV, LINE 2B: VERIDIAN 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: VERIDIAN CREDIT UNION IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(14) OF THE INTERNAL REVENUE CODE AND SECTION 122 OF THE CREDIT UNION ACT. THE CREDIT UNION'S CUSO SUBSIDIARY, HOWEVER, IS SUBJECT TO STATE AND FEDERAL INCOME TAXES. AT DECEMBER 31, 2020 AND 2019, THE SUBSIDIARY'S ACCRUED INCOME TAX (RECEIVABLE) LIABILITY WAS ($33,282) AND $45,509, RESPECTIVELY, WHICH IS INCLUDED IN OTHER ASSETS AND ACCRUED EXPENSES AND OTHER LIABILITIES IN THE CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION, RESPECTIVELY. THE CREDIT UNION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC 740, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN, SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE CREDIT UNION MAY RECOGNIZE THE TAX BENEFITS FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES, BASED ON TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE BEING MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. THIS STANDARD DID NOT HAVE AN IMPACT ON THE FINANCIAL STATEMENTS AND THE CREDIT UNION BELIEVES IT DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS. THE CREDIT UNION RECOGNIZES INTEREST AND PENALTIES ON INCOME TAXES AS A COMPONENT OF INCOME TAX EXPENSE. 1 CEDAR RAPIDS METRO ECONOMIC ALLIANCE 501 1ST ST SE CEDAR RAPIDS IA 52401 420172900 501(C)(6) 5000 GENERAL SUPPORT CEDAR VALLEY UNITED WAY 425 CEDAR STREET SUITE 300 WATERLOO IA 50701 420801846 501(C)(3) 29000 GENERAL SUPPORT COMMUNITY FOUNDATION OF NORTHEAST IOWA 425 CEDAR STREET SUITE 310 WATERLOO IA 50701 426060414 501(C)(3) 70000 GRANTS GREATER CEDAR VALLEY ALLIANCE 10 WEST 4TH STREET SUITE 310 WATERLOO IA 50701 421241941 501(C)(6) 27500 GENERAL SUPPORT GREATER DM PARTNERSHIP 601 LOCUST ST STE 700 DES MOINES IA 50309 421489668 501(C)(6) 5000 GENERAL SUPPORT IOWA CITY AREA DEVELOPMENT 136 S DUBUQUE ST IOWA CITY IA 52240 421234837 501(C)(6) 5000 GENERAL SUPPORT IOWA CREDIT UNION FOUNDATION 7745 OFFICE PLAZA DR N SUITE 170 WEST DES MOINES IA 50266 421438113 501(C)(3) 10000 GENERAL SUPPORT PAPPILLION SCHOOLS FOUNDATION 242 W GRANT ST PAPILLION NE 68046 470718860 501(C)(3) 10000 FINANCIAL LITERACY UNITED WAY OF CENTRAL IOWA 1111 9TH STREET SUITE 1000 DES MOINES IA 50314 420680425 501(C)(3) 29000 GENERAL SUPPORT UNITED WAY OF EAST CENTRAL IOWA 317 7TH AVENUE SE NO 401 CEDAR RAPIDS IA 52401 420861239 501(C)(3) 8700 GENERAL SUPPORT UNITED WAY OF EAST CENTRAL IOWA - SPARK 5 317 7TH AVE SE 410 CEDAR RAPIDS IA 52401 420861239 501(C)(3) 10000 PROGRAM - SPARK 5 UNITED WAY OF THE MIDLANDS 2201 FARNAM STREET SUITE 200 OMAHA NE 68102 470922285 501(C)(3) 13500 GENERAL SUPPORT WATERLOO COMMUNITY SCHOOL DISTRICT 1350 KATOSKI DR WATERLOO IA 50701 426003910 CITY OF WATERLOO 5000 WATERLOO CAREER CENTER OELWEIN AREA UNITED WAY PO BOX 547 OELWEIN IA 50662 421225224 501(C)(3) 6000 GENERAL SUPPORT CITY OF WAVERLY 201 1ST ST NE WAVERLY IA 50677 426005344 CITY OF WAVERLY 5000 GENERAL SUPPORT CENTRO LATINO 300 W BROADWAY STE 40 COUNCIL BLUFFS IA 51503 202931001 501(C)(3) 8000 GENERAL SUPPORT POLK CO 111 COURT AVE 300 DES MOINES IA 50319 426004519 501(C)(1) 10000 FINANCIAL EMPOWERMENT CENTER CEDAR VALLEY HABITAT FOR HUMANITY 350 6TH AVE SE CEDAR RAPIDS IA 52401 421320296 501(C)(3) 5000 GENERAL SUPPORT IOWA HEARTLAND HABITAT FOR HUMANITY 803 W 5TH ST WATERLOO IA 50702 421350378 501(C)(3) 10000 GENERAL SUPPORT UNIVERSITY OF NORTHERN IOWA 1227 W 27TH ST CEDAR FALLS IA 50614 426058591 501(C)(3) 10500 UPWARD BOARD COMM. ENGAGEMENT IOWA COMMUNITY CAPITAL 915 8TH ST SUITE 205 BOONE IA 50036 421502371 501(C)(3) 25000 SMALL BUSINESS RELIEF LEADER VALLEY FOUNDATION 360 WESTFIELD AVE SUITE 200 WATERLOO IA 50701 453120883 501(C)(3) 10000 GENERAL SUPPORT IOWA CREDIT UNION FOUNDATION INC PO BOX 8467 DES MOINES IA 50301 421438113 501(C)(3) 50000 COVID -19 EMERGENCY RELIEF FUND NORTHEAST IOWA FOOD BANK INC 1605 LAFAYETTE ST WATERLOO IA 50703 421169648 501(C)(3) 14000 GENERAL SUPPORT IOWA CENTER FOR ECONOMIC SUCCESS 2210 GRAND AVE DES MOINES IA 50312 201037604 501(C)(3) 10000 SMALL BUSINESS GRANT PROGRAM 20 5 PART I, LINE 2: THE ORGANIZATION ISSUES FUNDS TO BE USED AT THE RECIPIENT'S DISCRETION. X 1 0 X X X X 0 1 0 MONTE BERG FORMER PRESIDENT/CEO 488301 0 132038 0 565201 0 83715 0 19023 0 1288278 0 451334 0 DOUGLAS GILBERTSON CHIEF OPERATIONS OFFICER 370223 0 76985 0 355644 0 122991 0 9665 0 935508 0 332580 0 RENEE CHRISTOFFER PRESIDENT/CEO 416260 0 64747 0 100478 0 173738 0 11467 0 766690 0 75493 0 GABRIEL WILCOX MORTGAGE LOAN ORIGINATOR 162554 0 324747 0 126 0 43317 0 19728 0 550472 0 0 0 KEITH MESCH CHIEF FINANCIAL OFFICER 234982 0 52047 0 88243 0 113217 0 18904 0 507393 0 41372 0 LORI HONERMANN MORTGAGE LOAN ORIGINATOR 82885 0 280492 0 510 0 42675 0 19349 0 425911 0 0 0 CHRISTOPHER MCGOVERN MANAGER OF MORTGAGE LENDING 115452 0 227662 0 420 0 38218 0 657 0 382409 0 0 0 LYNETTE GILBERTSON SENIOR VP OF COMMERCIAL SERVICES 203267 0 29853 0 50678 0 60536 0 8665 0 352999 0 20888 0 JOSHUA DUNHAM MORTGAGE LENDING SALES SUPERVISOR 80403 0 199764 0 534 0 37592 0 22548 0 340841 0 0 0 BRETT ENGSTROM CHIEF INFORMATION OFFICER 215356 0 27699 0 647 0 78675 0 16746 0 339123 0 0 0 MARK KOPPEDRYER SENIOR VP OF RETAIL 192968 0 26951 0 26981 0 57575 0 23709 0 328184 0 15193 0 GREGORY SLESSOR SENIOR VP OF LEGAL 202632 0 27749 0 417 0 61071 0 23285 0 315154 0 0 0 SHAWNA MATZ VP OF TALENT DEVELOPMENT 191480 0 25359 0 22903 0 55815 0 10664 0 306221 0 14296 0 MELISSA GRIFFIN MORTGAGE LENDING SALES SUPERVISOR 71912 0 161042 0 290 0 34510 0 20104 0 287858 0 0 0 KARA VANWERT SENIOR VP OF LENDING 185041 0 24062 0 817 0 53336 0 11598 0 274854 0 0 0 PART I, LINE 1A IN TAX YEAR 2020, VERIDIAN CREDIT UNION REIMBURSED TRAVEL EXPENSES TO INDUSTRY CONFERENCES FOR COMPANIONS TO PAMELA AYRES, JAMES KACHER, AND TRACI MCBEE. THE AMOUNT IS INCLUDED IN REPORTABLE COMPENSATION IN PART VII AND SCHEDULE J. PART I, LINE 4B THE FOLLOWING INDIVIDUALS PARTICIPATED IN A NON-QUALIFIED RETIREMENT PLAN IN 2020: MONTE BERG - $40,965, RENEE CHRISTOFFER - $130,988, BRETT ENGSTROM - $47,961, DOUG GILBERTSON - $80,241, KEITH MESCH - $74,225, LYNETTE GILBERTSON - $31,988, SHAWNA MATZ - $27,139, GREG SLESSOR - $29,829, KARA VANWERT - $25,938, AND MARK KOPPEDRYER - $28,703. THE DOLLAR AMOUNT REPRESENTS THE CURRENT YEAR CONTRIBUTION MADE BY VERIDIAN CREDIT UNION ON BEHALF OF THE INDIVIDUALS TO THE PLAN IN 2020. THIS INFORMATION IS INCLUDED IN DEFERRED COMPENSATION ON THE FORM 990, PART VII AND SCHEDULE J, PART II. RENEE CHRISTOFFER OFFICER NEW REAL ESTATE LOAN X 284000 248959 0 1 1 BRETT ENGSTROM OFFICER PURCHASE VEHICLE X 23823 10200 0 1 1 SHAWNA MATZ KEY EMPLOYEE REAL ESTATE LOAN X 186000 147285 0 1 1 KARA VANWERT KEY EMPLOYEE DIRECT NEW AUTO LOAN X 37394 29100 0 1 1 KARA VANWERT KEY EMPLOYEE INDIRECT NEW AUTO LOAN X 51281 34000 0 1 1 KARA VANWERT KEY EMPLOYEE NEW AUTO LOAN X 73944 61600 0 1 1 KARA VANWERT KEY EMPLOYEE HOME EQUITY LOAN X 59328 53000 0 1 1 CHRISTOPHER MCGOVERN KEY EMPLOYEE REAL ESTATE LOAN X 210000 109436 0 1 1 693580 FORM 990, PART VI, SECTION A, LINE 2 DOUG GILBERTSON AND LYNN GILBERTSON HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 6 VERIDIAN CREDIT UNION IS A NOT-FOR-PROFIT FINANCIAL COOPERATIVE THAT IS OWNED BY ITS MEMBERS. VERIDIAN CREDIT UNION MEMBERSHIP IS OPEN TO PERSONS LIVING OR WORKING IN IOWA, AS WELL AS 6 EASTERN COUNTIES IN NEBRASKA. EMPLOYEES OF THE CREDIT UNION'S BUSINESS PARTNERS ARE ALSO ELIGIBLE FOR VERIDIAN CREDIT UNION MEMBERSHIP. REGISTERED USERS OF DWOLLA ARE ALSO ELIGIBLE FOR VERIDIAN CREDIT UNION MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER OF VERIDIAN CREDIT UNION IS AN EQUAL OWNER OF THE CREDIT UNION. EACH MEMBER HAS ONE VOTE IN THE ELECTION OF THE BOARD OF DIRECTORS, REGARDLESS OF HOW MUCH MONEY THEY HAVE IN DEPOSITS. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING TYPES OF DECISIONS OF THE GOVERNING BODY OF VERIDIAN CREDIT UNION ARE SUBJECT TO APPROVAL BY ITS MEMBERS: CHANGE IN ARTICLES OF INCORPORATION, MERGER, CHANGE TO THE CREDIT UNION BY-LAWS, CHANGE IN CHARTER STATUS, ELECTION/REMOVAL OF MEMBERS OF THE BOARD, AND DISSOLUTION OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 AND ALL THE REQUIRED SCHEDULES ARE REVIEWED EACH YEAR BY THE CONTROLLER. AMOUNTS REPORTED ON THE 990 ARE SUPPORTED WITH VARIOUS WORK PAPERS CONTAINING INFORMATION OBTAINED FROM THE GENERAL LEDGER ACCOUNTING SOFTWARE AND PAYROLL PROCESSOR. THE CONTROLLER REVIEWS ALL WORK PAPERS TO ENSURE AMOUNTS REPORTED ON THE FORM 990 ARE PROPER. AFTER THE REVIEW, ANY QUESTIONS OR COMMENTS ARE SUBMITTED TO THE PREPARER FOR RESPONSES, AND THEN ANOTHER REVIEW OF THOSE ITEMS IS COMPLETED UNTIL ALL QUESTIONS AND COMMENTS ARE RESOLVED. THE COMPLETED FORM 990 WILL BE FILED ELECTRONICALLY WITH THE IRS AND IS POSTED TO THE VERIDIAN'S BOARD EXTRANET FOR THE BOARD MEMBERS TO REVIEW. FORM 990, PART VI, SECTION B, LINE 12C VERIDIAN CREDIT UNION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY AS FOLLOWS: THE VERIDIAN CONFLICT OF INTEREST POLICY REQUIRES ANNUAL DISCLOSURE STATEMENTS TO BE SIGNED BY THE BOARD OF DIRECTORS AND SUBMITTED TO THE CFO OR BOARD CHAIR WITHIN 30 DAYS OF JANUARY 1 OF EACH YEAR. ANY APPARENT CONFLICT OF INTEREST SHALL BE RESOLVED BY THE CFO AND/OR AUDIT COMMITTEE WITH THE INDIVIDUAL. VERIDIAN'S BOARD OF GOVERNANCE COMMITTEE ALSO OVERSEES THIS BOARD POLICY. VERIDIAN'S AUDIT COMMITTEE OVERSEES THIS BOARD POLICY IN ADDITION TO THE INTERNAL AUDIT STAFF WHO MONITORS COMPLIANCE WITH ALL POLICIES. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS OF DETERMINING COMPENSATION FOR ALL EMPLOYEES OF THE CREDIT UNION, INCLUDING THE CEO AND OTHER KEY EMPLOYEES IS AS FOLLOWS: AN OUTSIDE, THIRD PARTY CONSULTANT IS ENGAGED TO HELP DETERMINE THE PAY SCALE AND MERIT INCREASES. THE CONSULTANTS PERFORM MARKET SURVEYS EACH YEAR FOR EACH OF OUR REGIONS TO DETERMINE IF ANY CHANGES NEED TO BE MADE TO THE PAY RANGES. VERIDIAN CREDIT UNION'S BOARD OF DIRECTORS APPROVE THE RANGE ADJUSTMENTS. FORM 990, PART VI, SECTION C, LINE 19 VERIDIAN CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FINANCIAL STATEMENTS ARE POSTED MONTHLY AT ALL BRANCH LOCATIONS. FORM 990, PART XI, LINE 9: CHANGE IN FUNDED STATUS OF RETIREMENT PLAN -2,005,632. FORM 990, PART XII, LINE 2C: THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR TAX YEAR. VERIDIAN FISCAL SOLUTIONS LLC 1827 ANSBOROUGH AVENUE WATERLOO IA 50701 471135117 PAYROLL SERVICES IA 850983 43698052 THE VERIDIAN GROUP INC MEMBERS INSURANCE SERVICES LLC 1827 ANSBOROUGH AVENUE WATERLOO IA 50701 421277528 INSURANCE SERVICES IA 361719 1847291 MEMBERS INSURANCE INC THE VERIDIAN GROUP INC 1827 ANSBOROUGH AVENUE WATERLOO IA 50701 421263291 INSURANCE AND PAYROLL PROCESSING IA VERIDIAN CREDIT UNION C 618128 5975457 1.00000 1 MEMBERS INSURANCE INC 1827 ANSBOROUGH AVENUE WATERLOO IA 50701 421277528 HOLDING COMPANY IA N/A C 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 THE VERIDIAN GROUP INC A 84600 FAIR MARKET VALUE THE VERIDIAN GROUP INC L 159888 FAIR MARKET VALUE