2020-08-24T15:57:29-05:00 2019-12-31 410746749 CLIFTONLARSONALLEN LLP 301 SW ADAMS STREET SUITE 1000 PEORIA IL 61602 990 2019-01-01 362523206 IH MISSISSIPPI VALLEY CREDIT UNION IHMI 3097936200 2121 47TH STREET PO BOX 1010 MOLINE IL 61265 ALLAN HOSACK EVP/CFO 3097936200 2020-08-10 1 JEFF CASTAGNA P01239054 3096714500 2020-08-10 67.137.57.251 2020-08-10 11:30:37 CD P CEE7F2914D07A6BA8302BBD3675CB8F99C28C625 F5441EADB67BF8BA045AE04DBD35D03822415009 2019 2021-04-22 16:20:28Z ALLAN HOSACK 2121 47TH STREET PO BOX 1010 MOLINE IL 61265 96213751 0 X IHMVCU.ORG X 1934 IL PROVIDE CONSUMER, MORTGAGE, AND BUSINESS LOANS AND DEPOSIT SERVICES TO OVER 132,795 MEMBERS. 10 10 498 127 274921 141005 0 0 84173199 92146477 2192597 3617117 392 1359 86366188 95764953 96987 113003 0 0 26138442 27326096 0 0 0 48996625 56714945 75232054 84154044 11134134 11610909 1342918600 1477272406 1230028466 1350069158 112890134 127203248 PROVIDE CONSUMER, MORTGAGE, AND BUSINESS LOANS AND DEPOSIT SERVICES TO OVER 132,795 MEMBERS. 0 0 PROVIDE CONSIDERABLE LOANS TO MEMBERS. TOTAL CONSUMER AND BUSINESS LOANS PROVIDED WERE 83,749. TOTAL REAL ESTATE LOANS PROVIDED WERE 4,497. PROVIDED 242,150 DEPOSITORY ACCOUNTS TO APPROXIMATELY 132,795 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 0 0 0 0 0 0 0 0 0 1 0 0 0 1 34629 0 1 498 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 2121 47TH STREET 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 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 581440 0 0 ANN MCMILLIAN CHIEF OPERATING OFFICER 40.00 X 373265 0 0 ALLAN HOSACK CHIEF FINANCIAL OFFICER 40.00 X 306932 0 0 MATT JEFFERSON CHIEF DIGITAL OFFICER 40.00 X 300472 0 0 LISA OLSON CHIEF RISK MANAGEMENT OFFI 40.00 X 249709 0 0 ANDREW GROTHE SVP OF BUSINESS LENDING 40.00 X 205139 0 0 KRISTI RIFFE SVP FINANCE 40.00 X 198299 0 0 KEVIN DUNCALF VP OF BUSINESS DEVELOPMENT 40.00 X 185824 0 0 JORDAN BOHALL VP ANALYTICS 40.00 X 164416 0 0 RON GAUVIN VP OF STRATEGIC INITIATIVE 40.00 X 148000 0 0 CHAD ERVIN VP COMMERCIAL LENDING DEPT 40.00 X 175473 0 0 ROBERT ROSEMAN VP INDIRECT BUSINESS DEVEL 40.00 X 264109 0 0 CURT JOURDAN VP OF TECHNOLOGY 40.00 X 163908 0 0 LINDSEY RAMOS SVP MEMBER EXPERIENCE 40.00 X 166056 0 0 DANIELLE SONS VP OF ACCOUNTING/CONTROLLE 40.00 X 159661 0 0 BARBARA MEYERS VP REMOTE DELIVERY 40.00 X 158470 0 0 RANDY TRAUB VP OF UNDERWRITING & LOAN 40.00 X 156178 0 0 JAMES LEGARE VP BUSINESS UNDERWRITING 40.00 X 156404 0 0 CURTIS JOHNSTON VP OF MORTGAGE 40.00 X 148805 0 0 BENJAMIN ABBOTT VP OF DIGITAL SERVICES 40.00 X 139264 0 0 JULIE STICKNEY SVP TALENT MGT 40.00 X 143703 0 0 LAURA BURKHOLDER VP OF CREDIT RISK 40.00 X 133441 0 0 AMY ORR VP OF MARKETING 40.00 X 120545 0 0 AMY BYTNAR VP PMO 40.00 X 5893 0 0 LISA ROLLER CORSIGLIA VP RETAIL DELIVERY 40.00 X 37235 0 0 4842641 0 0 23 0 1 0 REEN CONSTRUCTION LLC 3431 190TH STREET GOOSE LAKE IA 52750 CONSTRUCTION & REMODELING 1195737 TR HOLDINGS LLC 3245 E 35TH STREET COURT DAVENPORT IA 52807 LEASE PAYMENT 250000 LANE & WATERMAN LLP 220 NORTH MAIN STREET DAVENPORT IA 528011987 LEGAL AND COLLECTION 190775 HEARTLAND BUSINESS SYSTEMS 75 REMITTANCE DRIVE DEPT 3286 CHICAGO IL 606753286 IT BUSINESS SOLUTIONS 151769 UNIMARKETA LLC 2001 ALTA VISTA STREET DUBUQUE IA 520014339 IT BUSINESS SOLUTIONS 127400 9 INTEREST ON LOANS 522100 63642996 63642996 FEE INCOME 522100 26171064 26167639 3425 MORTGAGE SERVICING RIGHTS 522100 1398739 1398739 INSURANCE COMMISSIONS 524298 705923 663541 42382 ATM SURCHARGE FEES 522100 152107 152107 75648 75648 92146477 2912344 2912344 1153571 448798 704773 704773 704773 K-1 INCOME - MEMBERS DEVELOPMENT 522100 1359 1359 1359 95764953 92577688 274921 2912344 X 83003 30000 5902654 15751449 1526563 2546810 1598620 94814 268733 15000 1209111 1207603 7019371 2871090 368459 15198298 2217090 FEDERAL AND STATE UBIT 178500 PROVISION FOR LOAN LOSS 16024439 VISA CARD EXPENSES 4777909 PROGRAM/SERVICES EXPENS 2397976 2866552 84154044 54141992 46177953 1115170301 1233190529 66996925 11282441 35304450 55714484 93572356 92368412 13033659 16755680 31695842 33065348 1342918600 1477272406 14639305 14065077 67221204 98450000 1148167957 1237554081 1230028466 1350069158 X 0 0 0 0 112890134 127203248 112890134 127203248 1342918600 1477272406 11610909 2702205 0 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) 9452744 9452744 43657024 8433955 35223069 13887157 2848486 11038671 55714484 MEMBER SHARES AND CERTIFICATES 1236954081 SUBORDINATED DEBENTURE 600000 1237554081 X 95770195 0 95770195 -5242 -5242 95764953 84159286 0 84159286 -5242 -5242 84154044 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, 2019 AND 2018. PART XI, LINE 4B - OTHER ADJUSTMENTS: OREO EXPENSES 104,906. LOSS ON SALE OF OREO -110,148. PART XII, LINE 4B - OTHER ADJUSTMENTS: OREO EXPENSES 104,906. LOSS ON SALE OF OREO -110,148. 0 BIG BROTHERS BIG SISTERS OF THE MISSISSIPPI VALLEY 130 W 5TH ST DAVENPORT IA 52801 421320908 510(C)(3) 5710 CORPORATE DONATION BOYS AND GIRLS CLUB 338 6TH STREET MOLINE IL 61265 363838421 501(C)(3) 7375 CORPORATE DONATION DRESS FOR SUCCESS QUAD CITIES 311 E 2ND ST PO BOX 3574 DAVENPORT IA 52801 451825338 501(C)(3) 10000 CORPORATE DONATION FRONTIER MANAGEMENT GROUP 100 W 76TH ST DAVENPORT IA 52806 421205877 5418 CORPORATE DONATION IA CU LEAGUE PO BOX 10409 DES MOINES IA 50306 421438113 501(C)(6) 5000 CORPORATE DONATION IL CU FOUNDATION 1807 W DIEHL ROAD NAPERVILLE IL 60566 362994028 501(C)(6) 5000 CORPORATE DONATION QUAD CITIES YOUTH SPORTS FOUNDATION 1540 W 12TH ST DAVENPORT IA 52804 475185689 501(C)(3) 10000 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 USO 333 S WABASH AVE 16TH FLOOR CHICAGO IL 60604 362349617 501(C)(3) 10000 CORPORATE DONATION WESTERN IL UNIVERISTY FOUNDATION - WQPT 108 J RIVERFRONT HALL MOLINE IL 61265 376046814 7500 CORPORATE DONATION YWCA PO BOX 377 MONMOUTH IL 61462 364554621 501(C)(3) 6000 CORPORATE DONATION SCOTT COUNTY YMCA 606 W 2ND ST DAVENPORT IA 52801 420703278 501(C)(3) 5000 CORPORATE DONATION 10 2 STUDENT SCHOLARSHIPS 13 30000 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 454327 0 127113 0 0 0 173646 0 38231 0 793317 0 0 0 ANN MCMILLIAN CHIEF OPERATING OFFICER 294758 0 78507 0 0 0 146652 0 30923 0 550840 0 0 0 ALLAN HOSACK CHIEF FINANCIAL OFFICER 245476 0 61456 0 0 0 30414 0 34852 0 372198 0 0 0 MATT JEFFERSON CHIEF DIGITAL OFFICER 241211 0 59261 0 0 0 47539 0 35409 0 383420 0 0 0 LISA OLSON CHIEF RISK MANAGEMENT OFFI 238545 0 11164 0 0 0 70274 0 33666 0 353649 0 0 0 ANDREW GROTHE SVP OF BUSINESS LENDING 171051 0 34088 0 0 0 114044 0 30081 0 349264 0 0 0 KRISTI RIFFE SVP FINANCE 165518 0 32781 0 0 0 74699 0 20218 0 293216 0 0 0 KEVIN DUNCALF VP OF BUSINESS DEVELOPMENT 158798 0 27026 0 0 0 22954 0 13263 0 222041 0 0 0 JORDAN BOHALL VP ANALYTICS 150000 0 14416 0 0 0 4048 0 22617 0 191081 0 0 0 RON GAUVIN VP OF STRATEGIC INITIATIVE 148000 0 0 0 0 0 0 0 12888 0 160888 0 0 0 CHAD ERVIN VP COMMERCIAL LENDING DEPT 147572 0 27901 0 0 0 9244 0 27345 0 212062 0 0 0 ROBERT ROSEMAN VP INDIRECT BUSINESS DEVEL 147150 0 116959 0 0 0 14029 0 27311 0 305449 0 0 0 CURT JOURDAN VP OF TECHNOLOGY 142300 0 21608 0 0 0 16925 0 22536 0 203369 0 0 0 LINDSEY RAMOS SVP MEMBER EXPERIENCE 142002 0 24054 0 0 0 13999 0 27704 0 207759 0 0 0 DANIELLE SONS VP OF ACCOUNTING/CONTROLLE 137840 0 21821 0 0 0 6500 0 27394 0 193555 0 0 0 BARBARA MEYERS VP REMOTE DELIVERY 136080 0 22390 0 0 0 58286 0 26356 0 243112 0 0 0 RANDY TRAUB VP OF UNDERWRITING & LOAN 134945 0 21233 0 0 0 55672 0 25976 0 237826 0 0 0 JAMES LEGARE VP BUSINESS UNDERWRITING 134463 0 21941 0 0 0 7959 0 26273 0 190636 0 0 0 CURTIS JOHNSTON VP OF MORTGAGE 127854 0 20951 0 0 0 53060 0 25732 0 227597 0 0 0 BENJAMIN ABBOTT VP OF DIGITAL SERVICES 120252 0 19012 0 0 0 27298 0 25915 0 192477 0 0 0 JULIE STICKNEY SVP TALENT MGT 120213 0 23490 0 0 0 20328 0 22323 0 186354 0 0 0 LAURA BURKHOLDER VP OF CREDIT RISK 114863 0 18578 0 0 0 17979 0 14979 0 166399 0 0 0 AMY ORR VP OF MARKETING 103358 0 17187 0 0 0 40577 0 24496 0 185618 0 0 0 PART I, LINE 4B 457(F) DEFERRED COMPENSATION PLAN 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 IX, LINE 24E MISCELLANEOUS EXPENSE 1,204,086. ATM EXPENSES 787,540. EDUCATION/TRAINING 454,968. COLLECTION EXPENSE 200,616. O.R.E.O. EXPENSE 104,906. CASH SHORT (OVER) 61,297. BUSINESS DUES 53,139. 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. MEMBERS FINANCIAL LLC 801 TECH DRIVE MILAN IL 61264 320091317 HOLDING COMPANY IL 40486 4011363 MEMBERS PROPERTY MANAGEMENT LLC 801 TECH DRIVE MILAN IL 61264 260224070 PROPERTY MANAGEMENT IL 63497 3402216 MEMBERS FINANCIAL LLC MEMBERS INSURANCE SERVICES LLC 801 TECH DRIVE MILAN IL 61264 320091314 INSURANCE IL -24720 710645 MEMBERS FINANCIAL LLC