2021-05-04T17:39:54-05:00 2020-12-31 811697509 AUDIT THREESIXTY 1202 JOHNSON ST ONALASKA WI 546502008 990 2020-01-01 410519535 CITIES CREDIT UNION CITI 6514263773 3625 TALMAGE CIRCLE VADNAIS HEIGHTS MN 55110 KRISTINE HEUER VICE PRESIDENT 6514263773 2021-03-31 true KRISTINE HEUER 999009999 PETER RASMUSSEN P01888997 6083173765 2021-05-04 X 2020 2022-09-23 18:48:47Z MIKE ENRIGHT 3625 TALMAGE CIRCLE VADNAIS HEIGHTS MN 55110 1330376 false X WWW.CITIESCU.ORG X 1936 MN NEIGHBORLY, COMFORTABLE, FUN AND RIGHTHEARTED SERVICE. OFFERS HUMBLE GUIDANCE TO MEMBERS. 5 5 8 0 0 1176611 1082303 243966 222168 46682 25905 1467259 1330376 0 0 453850 425643 0 0 951170 893774 1405020 1319417 62239 10959 30248557 34534584 27617203 31892271 2631354 2642313 NEIGHBORLY, COMFORTABLE, FUN AND RIGHTHEARTED SERVICE. OFFERS HUMBLE GUIDANCE TO MEMBERS. false false THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE TO OUR MEMBERS. WE OPENED 132 NEW DEPOSIT ACCOUNTS IN 2020. AS OF 12/31/20 WE HAD 2,805 MEMBERS. THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 4160 NEW LOANS DURING 2020. AS OF 12/31/20 WE HAD 5,916 LOANS OUTSTANDING. . false false false false false false false false false true false true false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 442 0 true 8 true false false false false false false false false X 5 5 false false false false true true true true true false false false true true true true true true true false X KRISTINE HEUER 6514263773 3625 TALMAGE CIRCLE VADNAIS HEIGHTS MN 55110 MIKE ENRIGHT PRESIDENT 40.00 X 84852 0 13461 KRISTINE HEUER VICE PRESIDE 40.00 X 76914 0 15175 DANIEL PEDERSON CHAIR 1.00 X X 0 0 0 JOAN SIEGFRIED VICE CHAIR 1.00 X X 0 0 0 JAMES WALKER SECRETARY 1.00 X X 0 0 0 THOMAS BROCKWAY DIRECTOR 1.00 X 0 0 0 JAMES ARTHE DIRECTOR 1.00 X 0 0 0 161766 28636 false false false FISERV 75 REMITTANCE DRIVE CHICAGO IL 60675 DATA PROCESSING 143330 1 INTEREST ON LOANS 522130 852803 852803 OTHER MEMBER INCOME 522130 125656 125656 MEMBER FEE INCOME 522130 103844 103844 1082303 222168 222168 700 700 25205 25205 25205 25205 1330376 1082303 248073 161766 197088 1613 36154 29022 1397 15567 6000 32000 191944 143330 103263 4533 72400 26522 LOAN SERVICING 125695 PROVISION FOR LOAN LOSS 92000 DIVIDENDS EXPENSE 79123 1319417 0 0 0 207478 272328 3575360 7689298 17099537 17211248 21476 24183 1986433 1258312 793709 728121 7827619 7845225 723378 764181 30248557 34534584 167647 181986 27449556 31710285 27617203 31892271 X 2631354 2642313 2631354 2642313 30248557 34534584 10959 X false false 180000 180000 935360 555680 379680 845735 691844 153891 25338 10788 14550 728121 INVESTMENTS WITH MATURITY > 1 YEAR 7594000 C CORP CU MEMBERSHIP & PAID IN CAPTIAL 226864 C CO-OP NETWORK SHARES 20000 C INVESTMENT IN SERVION GROUP 4361 C 7845225 MEMBER SHARES AND CERTIFICATES 31710285 31710285 FORM 990, PAGE 6, PART VI, LINE 6 THE ORGANIZATION HAS MEMBERS. TO BE A MEMBER ONE MUST HAVE A SHARE (SAVINGS) ACCOUNT AT THE CREDIT UNION. FORM 990, PAGE 6, PART VI, LINE 7A THE BOARD OF DIRECTORS IS ELECTED BY THE CREDIT UNION MEMBERS. EACH MEMBER HAS ONE VOTE. FORM 990, PAGE 6, PART VI, LINE 7B A MEMBER VOTE IS REQUIRED FOR DECISIONS WHICH ARE BEYOND THE AUTHORITY OF THE BOARD OF DIRECTORS. ITEMS WHICH REQUIRE A MEMBERSHIP VOTE ARE OUTLINED AND SPECIFIED IN OUR BYLAWS. EACH MEMBER HAS ONE VOTE. FORM 990, PAGE 6, PART VI, LINE 11B VICE PRESIDENT PROVIDES THE INFORMATION TO INDEPENDENT PREPARER WHO COMPLETES THE RETURN. VP REVIEWS THE RETURN FOR ACCURACY, AND THEN AUTHORIZES PREPARER TO E-FILE THE APPROVED RETURN. VP NOTIFIES SUPERVISORY COMMITTE THE 990 HAS BEEN FILED AND IS AVAILABLE FOR THEIR REIVEW. THE BOARD IS NOTIFIED AT THEIR NEXT MEETING. FORM 990, PAGE 6, PART VI, LINE 12C AT THE FIRST BOARD MEETING AFTER THE ANNUAL MEETING EACH YEAR, THE BOARD MEMBERS ARE ASKED TO DISCLOSE ANY KNOWN CONFLICTS OF INTEREST. ANY CONFLICTS ARE NOTED IN THE BOARD MINUTES. FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD IS PROVIDED COMPARABLE DATA FOR CEO SALARIES WHICH THEY REVIEW. THE BOARD MEETS WITH THE CEO TO REVIEW HIS PROFORMANCE AND GOALS FOR THE NEXT YEAR. THE BOARD THEN DETERMINES THE CEO COMPENSATION. THE BOARD CHAIR PREPARES A SIGNED LETTER TO THE CEO TO DOCUMENT HIS APPROVED COMPENSATION. FORM 990, PAGE 6, PART VI, LINE 15B THE PRESIDENT DETERMINES SALARY OF ALL OTHER EMPLOYEES USING COMPARABLE SALARY DATA. THE COMPENSATION AMOUNTS ARE INCLUDED IN THE ANNUAL BUDGET APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. THE FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY.