2020-07-14T19:28:48-05:00 2019-12-31 420714325 RSM US LLP 4650 E 53RD ST DAVENPORT IA 528073479 990 2019-01-01 421132695 VERIDIAN CREDIT UNION VERI 3192365600 1827 ANSBOROUGH AVENUE WATERLOO IA 507013629 KEITH J MESCH CHIEF FINANCIAL OFFICER 3192365600 2020-07-08 1 JENIFER L CHASE P01306883 5638884000 173.20.82.182 2020-07-08 16:17:25 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 9D8C4631151EF1E1BB3DDB3444689A82E6B5C400 2019 2020-09-22 18:59:49Z KEITH J MESCH 1827 ANSBOROUGH AVENUE WATERLOO IA 507013629 278607169 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 1021 15 654665 192060 0 0 165565748 194510322 1234954 2356388 34726096 36028911 201526798 232895621 529679 573903 0 0 56650774 64877888 0 0 0 93717815 114482931 150898268 179934722 50628530 52960899 4142827269 4348513312 3746136448 3898533722 396690821 449979590 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 240,554 MEMBERS AT OUR CONVENIENT BRANCH LOCATIONS. VERIDIAN CREDIT UNION ADDED 33,674 NEW MEMBERSHIPS IN 2019. TOTAL LOANS AND DEPOSITS AT 12/31/2019 WERE 3,957,609,565 AND 3,665,762,518 RESPECTIVELY. 0 0 0 0 0 0 0 1 0 1 0 0 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 137007 0 1 1021 1 1 1 0 0 0 0 0 0 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 STEPHANIE ATKIN BOARD OF DIRECTOR 6.00 X 0 0 0 PAMELA AYRES BOARD OF DIRECTOR 6.00 X 0 0 0 WILLIAM BOEVERS BOARD OF DIRECTOR 6.00 X 2549 0 0 CYNTHIA BUETTNER BOARD OF DIRECTOR 6.00 X 0 0 0 ELIZABETH CAVEN FORMER BOARD OF DIRECTOR 6.00 X 0 0 0 THOMAS DELONG BOARD OF DIRECTOR 6.00 X 856 0 0 PAUL GENGLER BOARD OF DIRECTOR 6.00 X 0 0 0 JAMES KACHER BOARD OF DIRECTOR 6.00 X 0 0 0 BOB KRESSIG BOARD OF DIRECTOR 6.00 X 0 0 0 TRACI MCBEE BOARD OF DIRECTOR 6.00 X 3299 0 0 JUSTINE PEEBLES BOARD OF DIRECTOR 6.00 X 4307 0 0 GINGER SHIRLEY BOARD OF DIRECTOR 6.00 X 568 0 0 DENNY SKELTON BOARD OF DIRECTOR 6.00 X 0 0 0 CRESTON VAN WEY BOARD OF DIRECTOR 6.00 X 2077 0 0 NICK WATERS BOARD OF DIRECTOR 6.00 X 0 0 0 GAYLEN WITZEL BOARD OF DIRECTOR 6.00 X 0 0 0 MONTE BERG PRESIDENT/CEO 50.00 X 754155 0 217258 RENEE CHRISTOFFER CHIEF ADMINISTRATION OFFICER 50.00 X 420505 0 136704 DOUGLAS GILBERTSON CHIEF OPERATIONS OFFICER 50.00 X 477506 0 153088 KEITH MESCH CHIEF FINANCIAL OFFICER 50.00 X 348684 0 124870 MARK KOPPEDRYER SENIOR VP OF RETAIL 50.00 X 233212 0 74055 SHAWNA MATZ VP OF TALENT DEVELOPMENT 50.00 X 217160 0 64020 CHRIS MCGOVERN MANAGER OF MORTGAGE LENDING 50.00 X 228530 0 31128 KARA VANWERT SENIOR VP OF LENDING 50.00 X 199575 0 69589 BRETT ENGSTROM SENIOR VP OF INFORMATION TECHNOLOGY 50.00 X 215797 0 74153 LYNETTE GILBERTSON SENIOR VP OF COMMERCIAL SERVICES 50.00 X 261875 0 64697 LORI HONERMANN MORTGAGE LOAN ORIGINATOR 50.00 X 232588 0 51298 GREGORY SLESSOR SENIOR VP OF LEGAL 50.00 X 216073 0 76428 GABRIEL WILCOX MORTGAGE LOAN ORIGINATOR 50.00 X 209088 0 44992 4028404 0 1182280 67 0 1 0 FISERV INC 75 REMITTANCE DR SUITE 1649 CHICAGO IL 60675 DATA PROCESSING 4171120 ALKAMI TECHNOLOGY INC 5601 GRANITE PKWY 120 PLANO TX 75024 DATA PROCESSING 2354029 FLYNN WRIGHT 1408 LOCUST STREET DES MOINES IA 50309 ADVERTISING AGENCY 2228914 LANVERA LTD 112 WRANGLER DR 150 COPPELL TX 75019 DOCUMENT OUTSOURCING 2079137 THE REDMOND COMPANY W228 N745 WESTMOUND ROAD WAUKESHA WI 53186 DESIGN SERVICES 1201694 82 INTEREST INCOME - LOANS TO MEMBER 522100 169732937 169732937 FEES AND CHARGES 522100 12450199 12450199 ATM - POINT OF SALE 522100 4547950 4151843 396107 SALE OF SERVICES 522100 3838755 3580197 258558 INTEREST INCOME - MEMBER INVESTME 522100 3548814 3548814 391667 391667 194510322 1422275 1422275 641582 579974 61608 61608 61608 45171333 894354 45045439 86135 125894 808219 934113 934113 VISA INTERCHANGE 522100 19680113 19680113 OVERDRAFT/NSF FEES 522100 14644962 14644962 MISCELLANEOUS INCOME 900099 1642228 1642228 35967303 232895621 229822960 654665 2417996 573903 3763695 43155238 6077634 8674539 3206782 205057 311004 205143 403263 3965042 5795784 3493073 5269538 314554 443283 54939648 4468852 UNRELATED BUSINESS TAXE 74739 PROVISION FOR LOAN LOSS 15864105 LOAN SERVICING 7887238 PAYMENT SYSTEMS 6978901 3863707 179934722 27130202 26334627 19285683 58859503 11217095 33973151 837303 741433 3766075871 3933555310 4985245 6346214 108230835 37450574 68927958 70780261 204771695 176379443 39596217 41543370 4142827269 4348513312 41906858 50641395 4434763 3224130 13203020 13394242 259231873 178905678 3427359934 3652368277 3746136448 3898533722 X 0 0 0 0 396690821 449979590 396690821 449979590 4142827269 4348513312 X 52960899 3520457 -3192587 X X 0 1 X 1 0 0 1 X 15711496 15711496 55313601 16203712 39109889 3408478 1342897 2065581 32564096 19903965 12660131 1233164 1233164 70780261 SHARE SAVINGS 827359797 SHARE DRAFT 517250267 MONEY MARKET 574624147 CERTIFICATES 1538734791 IRA 194399275 3652368277 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: THE 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 INSURANCE BROKERAGE SUBSIDIARY, HOWEVER, IS SUBJECT TO STATE AND FEDERAL INCOME TAXES. AT DECEMBER 31, 2019 AND 2018, THE SUBSIDIARY'S ACCRUED INCOME TAX LIABILITY WAS $45,509 AND NONE, RESPECTIVELY, WHICH IS INCLUDED IN ACCRUED EXPENSES AND OTHER LIABILITIES IN THE CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION. 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 ON 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 PERCENT 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 1500 NW 118TH STREET DES MOINES IA 50325 421438113 501(C)(3) 10000 GENERAL SUPPORT OPERATION THRESHOLD 1535 LAFAYETTE STREET PO BOX 4120 WATERLOO IA 50704 420982549 501(C)(3) 66000 INDVIDUAL DEV. ACCT. MONEY MOVES PROGRAM 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 KBBG 918 NEWELL ST WATERLOO IA 50703 421078832 501(C)(3) 5000 GENERAL SUPPORT OAKRIDGE NEIGHBORHOOD SERVICES 1401 CENTER ST DES MOINES IA 50309 421311721 501(C)(3) 6000 MONEY MOVES PROGRAM CENTRO LATINO 300 W BROADWAY STE 40 COUNCIL BLUFFS IA 51503 202931001 501(C)(3) 9000 GENERAL SUPPORT POLK CO 111 COURT AVE 300 DES MOINES IA 50319 426004519 501(C)(1) 5000 FINANCIAL EMPOWERMENT CENTER CEDAR VALLEY HABITAT FOR HUMANITY 350 6TH AVE SE CEDAR RAPIDS IA 52401 421320296 501(C)(3) 5000 GENERAL SUPPORT HABITAT FOR HUMANITY OF COUNCIL BLUFFS 1228 S MAIN ST COUNCIL BLUFFS IA 51503 421394987 501(C)(3) 5000 GENERAL SUPPORT GREATER DES MOINES HABITAT FOR HUMANITY 2200 E EUCLID AVE DES MOINES IA 50317 421275330 501(C)(3) 5000 GENERAL SUPPORT HABITAT FOR HUMANITY OF OMAHA 1701 N 24TH ST OMAHA NE 68110 363283625 501(C)(3) 5000 GENERAL SUPPORT IOWA HEARTLAND HABITAT FOR HUMANITY 803 W 5TH ST WATERLOO IA 50702 421350378 501(C)(3) 5000 GENERAL SUPPORT GROUT MUSEUM 503 S ST WATERLOO IA 50701 421333059 501(C)(3) 15000 GENERAL SUPPORT UNIVERSITY OF NORTHERN IOWA 1227 W 27TH ST CEDAR FALLS IA 50614 426058591 501(C)(3) 10600 UPWARD BOARD COMM. ENGAGEMENT 22 5 PART I, LINE 2: THE ORGANIZATION ISSUES FUNDS TO BE USED AT THE RECIPIENT'S DISCRETION. X X X X 0 1 0 MONTE BERG PRESIDENT/CEO 519242 0 53774 0 181139 0 200414 0 16844 0 971413 0 0 0 RENEE CHRISTOFFER CHIEF ADMINISTRATION OFFICER 296744 0 37958 0 85803 0 125104 0 11600 0 557209 0 0 0 DOUGLAS GILBERTSON CHIEF OPERATIONS OFFICER 345901 0 37958 0 93647 0 146669 0 6419 0 630594 0 0 0 KEITH MESCH CHIEF FINANCIAL OFFICER 228327 0 37958 0 82399 0 108006 0 16864 0 473554 0 0 0 MARK KOPPEDRYER SENIOR VP OF RETAIL 187716 0 22336 0 23160 0 55845 0 18210 0 307267 0 0 0 SHAWNA MATZ VP OF TALENT DEVELOPMENT 176136 0 19783 0 21241 0 53170 0 10850 0 281180 0 0 0 CHRIS MCGOVERN MANAGER OF MORTGAGE LENDING 113234 0 114959 0 337 0 31128 0 0 0 259658 0 0 0 KARA VANWERT SENIOR VP OF LENDING 176473 0 22336 0 766 0 51379 0 18210 0 269164 0 0 0 BRETT ENGSTROM SENIOR VP OF INFORMATION TECHNOLOGY 192872 0 22336 0 589 0 57044 0 17109 0 289950 0 0 0 LYNETTE GILBERTSON SENIOR VP OF COMMERCIAL SERVICES 194174 0 22336 0 45365 0 58278 0 6419 0 326572 0 0 0 LORI HONERMANN MORTGAGE LOAN ORIGINATOR 72249 0 159835 0 504 0 34189 0 17109 0 283886 0 0 0 GREGORY SLESSOR SENIOR VP OF LEGAL 193344 0 22336 0 393 0 58218 0 18210 0 292501 0 0 0 GABRIEL WILCOX MORTGAGE LOAN ORIGINATOR 98638 0 110336 0 114 0 26782 0 18210 0 254080 0 0 0 PART I, LINE 4B THE FOLLOWING INDIVIDUALS PARTICIPATED IN A NON-QUALIFIED RETIREMENT PLAN IN 2019: MONTE BERG - $158,414, RENEE CHRISTOFFER - $88,026, BRETT ENGSTROM - $28,238, DOUG GILBERTSON - $104,669, KEITH MESCH - $70,753, LYNN GILBERTSON - $30,435, CHRISTI HULME - $20,669, SARAH ALBERTSON-CORKERY - $21,400, KELLY MANGRICH - $21,376, SHAWNA MATZ - $25,851, GREG SLESSOR - $28,288, KARA VAN WERT - $24,528, AND MARK KOPPEDRYER - $27,475. THE DOLLAR AMOUNT REPRESENTS THE CURRENT YEAR CONTRIBUTION MADE BY VERIDIAN CREDIT UNION ON BEHALF OF THE INDIVIDUALS TO THE PLAN IN 2019. THIS INFORMATION IS INCLUDED IN DEFERRED COMPENSATION ON THE FORM 990, PART VII AND SCHEDULE J, PART II. BRETT ENGSTROM HIGHEST COMPENSATED EMPLOYEE NEW AUTO LOAN X 23823 16241 0 1 1 CHRISTOPHER MCGOVERN KEY EMPLOYEE REAL ESTATE LOAN X 210000 123324 0 1 1 CHRISTOPHER MCGOVERN KEY EMPLOYEE INDIRECT NEW AUTO LOAN X 28060 7343 0 1 1 DOUGLAS GILBERTSON OFFICER USED AUTO LOAN X 30710 3918 0 1 1 KARA VAN WERT KEY EMPLOYEE NEW AUTO LOAN X 73944 66000 0 1 1 KARA VAN WERT KEY EMPLOYEE REAL ESTATE LOAN X 197600 180900 0 1 1 KARA VAN WERT KEY EMPLOYEE PURCHASE MONEY X 46690 37900 0 1 1 KARA VAN WERT KEY EMPLOYEE INDIRECT NEW AUTO LOAN X 51281 42200 0 1 1 KARA VAN WERT KEY EMPLOYEE DIRECT NEW AUTO LOAN X 37394 35900 0 1 1 KEITH MESCH OFFICER NEW AUTO LOAN X 25000 0 0 1 1 LORI HONERMANN HIGHEST COMPENSATED EMPLOYEE CERTIFICATE SECURED X 64000 59177 0 1 1 LORI HONERMANN HIGHEST COMPENSATED EMPLOYEE INDIRECT NEW AUTO LOAN X 27884 0 0 1 1 MARK KOPPEDRYER KEY EMPLOYEE HOME EQUITY LOAN X 120000 0 0 1 1 MARK KOPPEDRYER KEY EMPLOYEE USED AUTO LOAN X 18279 10694 0 1 1 MONTE BERG OFFICER HOME EQUITY LOAN X 165000 0 0 1 1 SHAWNA MATZ KEY EMPLOYEE REAL ESTATE LOAN X 186000 157836 0 1 1 SHAWNA MATZ KEY EMPLOYEE INDIRECT NEW AUTO LOAN X 31381 0 0 1 1 741433 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. THE INTERNAL AUDIT STAFF 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 -3,192,587. 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 800590 36569343 THE VERIDIAN GROUP INC MEMBERS INSURANCE SERVICES LLC 1827 ANSBOROUGH AVENUE WATERLOO IA 50701 421277528 INSURANCE SERVICES IA 114676 1382019 MEMBERS INSURANCE INC THE VERIDIAN GROUP INC 1827 ANSBOROUGH AVENUE WATERLOO IA 50701 421263291 INSURANCE AND PAYROLL PROCESSING IA VERIDIAN CREDIT UNION C 833716 5385614 1.00000 1 MEMBERS INSURANCE INC 1827 ANSBOROUGH AVENUE WATERLOO IA 50701 421277528 HOLDING COMPANY IA N/A C 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 THE VERIDIAN GROUP INC A 77012 FAIR MARKET VALUE THE VERIDIAN GROUP INC L 146900 FAIR MARKET VALUE