2020-11-16T16:18:10-06:00 2019-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2019-01-01 390716655 HEARTLAND CREDIT UNION HEAR 6082827000 5325 HIGH CROSSING BLVD MADISON WI 53718 SALLY DISCHLER PRESIDENT/CEO 6082827000 2020-11-11 1 TANYA MEDGAARDEN P01717240 5074347000 2020-11-11 67.137.57.251 2020-11-11 07:27:24 CS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 10F8AB8207F7B9DBB8E76E1DA29C0A2AAF323FBB 2019 2021-04-22 16:20:28Z SALLY DISCHLER 5325 HIGH CROSSING BLVD MADISON WI 53718 17295307 0 X WWW.HEARTLANDCU.ORG X 1936 WI TO PROVIDE QUALITY, COST-EFFECTIVE, PERSONALIZED FINANCIAL SERVICES FOR OUR MEMBERS' WELL-BEING. 7 7 103 13 106451 27804 0 0 15477077 16657353 361585 599688 71968 34824 15910630 17291865 0 0 1064111 1734190 6234557 6620877 0 0 0 6165773 5975251 13464441 14330318 2446189 2961547 288430135 312350469 262236880 284818637 26193255 27531832 TO PROVIDE OUR MEMBERS WITH QUALITY, COST-EFFECTIVE, PERSONALIZED FINANCIAL SERVICES THAT CONTRIBUTE TO THEIR SOCIAL AND ECONOMIC WELL-BEING. 0 0 WE ORIGINATED 3,671 NEW LOANS DURING 2019. AS OF 12/31/19, WE HAD 1,521 MORTGAGES/HOME EQUITY LINES, 8,251 CONSUMER LOANS, AND 769 MEMBER BUSINESS LOANS. WE ALSO HAD 4,970 CREDIT CARD ACCOUNTS WITH OUR MEMBERS. WE HAVE DEPOSIT, TRANSACTION AND INVESTMENT ACCOUNTS WITH 22,446 OF OUR MEMBERS AT 12/31. DURING 2019, WE OPENED 5,517 NEW DEPOSIT, TRANSACTION AND INVESTMENT ACCOUNTS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 7216 0 103 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 X SALLY DISCHLER 6082827000 5325 HIGH CROSSING BLVD MADISON WI 53718 LOIS GRANS DIRECTOR 1.00 X 4480 0 0 RHONDA HOLLFELDER CHAIR 1.00 X X 1090 0 0 LUCY HARR VICE-CHAIR 1.00 X X 1090 0 0 JAMES DROGUE SECRETARY 1.00 X X 1090 0 0 MARC JONES DIRECTOR 1.00 X 1090 0 0 DALE BURMESTER DIRECTOR 1.00 X 1090 0 0 JIM DALTON TREASURER 1.00 X X 865 0 0 KARI JUADIS DIRECTOR 1.00 X 655 0 0 MATT DAVIS DIRECTOR 1.00 X 0 0 0 SALLY DISCHLER PRESIDENT/CEO 40.00 X 279648 0 32906 STEVE FARNSWORTH EXECUTIVE VICE PRESIDENT 40.00 X 162825 0 15281 KEVIN CROWE CFO/SVP 40.00 X 119299 0 12434 ANGELA HANSON CIO/SVP 40.00 X 118136 0 7606 DIANNE JENTZ VP BUSINESS LENDING 40.00 X 119041 0 7727 SHAWN REDMAN CLO/SVP 40.00 X 122030 0 12375 LYLE HANSEN CTO 40.00 X 91792 0 19863 1024221 0 108192 6 0 1 0 WORLDPAY INC 8500 GOVERNORS HILL SYMMES TOWNSHIP OH 45249 PAYMENTS PROCESSING 538948 CU ANSWERS 6000 28TH ST SE STE 100 GRAND RAPIDS MI 49546 DATA PROCESSING 496509 MIDWEST LOAN SERVICES PO BOX 188 HOUGHTON MI 49931 LOAN SUBSERVICING 128726 DART APPRAISAL INC 2600 W BIG BEAVER RD STE 540 TROY MI 48084 APPRAISAL MANAGEMENT 102564 4 INTEREST ON LOANS 522100 11659394 11659394 OTHER OPERATING INCOME 522100 3340623 3234172 106451 FEE INCOME 522100 1657336 1657336 16657353 603130 603130 34824 0 34824 34824 34824 3442 -3442 -3442 -3442 17291865 16582284 106451 603130 1734190 1132413 4119453 535181 461508 372322 4000 12038 532553 438236 387881 261868 558054 19910 105293 318150 488687 60355 MEMBER ACCOUNT/CARD COS 1525643 LOAN SERVICING 601153 PROVISION FOR LOAN LOSS 567515 OTHER EXPENSES 93915 14330318 1447028 3300354 14992233 24822670 1523896 2624393 13664752 15792972 242019353 250853808 1165306 1381679 14059796 6542645 7718533 7517151 496000 2373207 2489013 3525827 3072429 288430135 312350469 5251085 6597853 14021024 10020092 242964771 268200692 262236880 284818637 X 0 0 0 0 26193255 27531832 26193255 27531832 288430135 312350469 X 2961547 -1622962 -8 X 0 1 X 1 0 1824047 1824047 7146368 2458189 4688179 173794 173794 0 4560113 3562189 997924 355474 348473 7001 7517151 MEMBER SHARE & DEPOSITS 264707453 NET PENSION LIABILITY 1999239 NONMEMBER DEPOSITS 1494000 268200692 X PART X, LINE 2: AS ALLOWED BY STATE REGULATORY AUTHORITIES, THE AUDIT IS DONE AS OF SEPTEMBER 30. THE REPORTING PERIOD FOR THE AUDIT, THEREFORE, DOES NOT MATCH THE REPORTING PERIOD FOR THE 990. PER FOOTNOTE 1 IN THE CREDIT UNION'S SEPTEMBER 30, 2019 AUDITED FINANCIAL STATEMENTS, THE CREDIT UNION IS EXEMPT, UNDER IRC SECTION 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES THEY HAVE DEEMED TAXABLE. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN IS 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 FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF SEPTEMBER 30, 2019. THE CREDIT UNION'S 2016 THROUGH 2018 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. X 0 0 0 SALLY DISCHLER PRESIDENT/CEO 224263 0 55385 0 0 0 16143 0 16763 0 312554 0 0 0 STEVE FARNSWORTH EXECUTIVE VICE PRESIDENT 137270 0 25555 0 0 0 9296 0 5985 0 178106 0 0 0 SALLY DISCHLER PRESIDENT SPLIT-DOLLAR LIFE INSURANCE X 7000000 7777008 0 1 1 STEVEN FARNSWORTH EVP SPLIT-DOLLAR LIFE INSURANCE X 1250000 1388751 0 1 1 STEVEN FARNSWORTH EVP SPLIT-DOLLAR LIFE INSURANCE X 1241800 1379641 0 1 1 KEVIN CROWE CFO SPLIT-DOLLAR LIFE INSURANCE X 1225434 1317479 0 1 1 ANGELA HANSON CIO SPLIT-DOLLAR LIFE INSURANCE X 1268263 1363524 0 1 1 DIANNE JENTZ VP BUSINESS LENDING SPLIT-DOLLAR LIFE INSURANCE X 1223904 1315833 0 1 1 SHAWN REDMAN CLO/SVP SPLIT-DOLLAR LIFE INSURANCE X 1248800 1250736 0 1 1 15792972 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION CONSISTS OF MEMBERS. TO BE A MEMBER, ONE MUST HAVE A SHARE/SAVINGS ACCOUNT. EACH MEMBER HAS ONE VOTE TO ELECT THE GOVERNING BODY (BOARD OF DIRECTORS). FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS ELECTED BY THE MEMBERSHIP UTILIZING THEIR ONE VOTE PER MEMBER. FORM 990, PART VI, SECTION A, LINE 7B EACH MEMBER HAS ONE VOTE TO UTILIZE IN RATIFYING SIGNIFICANT DECISIONS BEYOND THE AUTHORITY OF THE BOARD AS OUTLINED IN THE ORGANIZATIONS BYLAWS. ANY DECISION TO DISSOLVE OR MERGE THE ORGANIZATION REQUIRES APPROVAL OF MEMBERSHIP, UNLESS MANDATED BY REGULATORY AGENCY (I.E NCUA, WISCONSIN OFFICE OF CREDIT UNIONS) FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED FOR ERRORS AND OMMISSIONS FIRST BY CREDIT UNION EXECUTIVES, THEN A SUMMARY IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, ALL EMPLOYEES AND VOLUNTEERS ARE REQUIRED TO COMPLETE A DISCLOSURE OF ALL KNOWN RELATIONSHIPS WHICH MAY GIVE RISE TO CONFLICTS. THESE DISCLOSURES ARE MONITORED BY CREDIT UNION MANAGEMENT FOR COMPLIANCE. FORM 990, PART VI, SECTION B, LINE 15A TO DETERMINE CEO COMPENSATION, THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS REVIEWED ANNUAL CEO GOALS, CUES EXECUTIVE COMPENSATION SALARY DATA BY GEOGRAPHIC REGION, CREDIT UNION FINANCIAL RESULTS SPECIFICALLY THE ROA, AND THE PROJECTED BUDGET FOR THE COMING YEAR. THE EXECUTIVE COMMITTEE THEN MET IN PRIVATE TO DETERMINE THE COMPENSATION. THE MINUTES OF THE CEO REVIEW AND EXECUTIVE COMMITTEE WERE DOCUMENTED BY THE BOARD SECRETARY. THE BOARD CHAIRMAN THEN PROVIDED THE RESULTS TO THE REVIEW AND COMPENSATION TO THE ENTIRE BOARD DURING THE CLOSED SESSION. THIS WAS MOST RECENTLY COMPLETED IN 2019. FORM 990, PART VI, SECTION C, LINE 19 WE POST OUR FINANCIAL STATEMENTS IN ALL BRANCH LOBBIES ON A MONTHLY BASIS. FORM 990, PART XI, LINE 9: ROUNDING -8.