2025-10-14T21:32:53-05:00 2024-12-31 420714325 RSM US LLP 4650 EAST 53RD STREET DAVENPORT IA 528073479 990 2024-01-01 421132695 VERIDIAN CREDIT UNION VERI 3192365600 1827 ANSBOROUGH AVENUE WATERLOO IA 507013629 KEITH J MESCH CHIEF FINANCIAL OFFICER 3192365600 2025-09-23 1 0 JENIFER L CHASE P01306883 5638884000 2025-09-23 2024 2025-03-06 01:10:19Z KEITH J MESCH 1827 ANSBOROUGH AVENUE WATERLOO IA 507013629 569792196 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, 6 COUNTIES IN EASTERN NEBRASKA, AND 8 COUNTIES AROUND THE MINNEAPOLIS-ST PAUL METRO IN MINNESOTA. 13 13 1284 17 1038550 650936 0 0 330011844 386960773 17902892 24287603 45861320 48507143 393776056 459755519 806078 985368 0 0 84792628 92383604 0 0 0 234920865 273025465 320519571 366394437 73256485 93361082 7452103478 7964809440 6703828522 7107021669 748274956 857787771 THE MISSION OF VERIDIAN CREDIT UNION IS TO PARTNER WITH MEMBERS TO CREATE SUCCESSFUL FINANCIAL FUTURES. 0 0 VERIDIAN CREDIT UNION SERVED APPROXIMATELY 349,551 MEMBERS AT OUR CONVENIENT BRANCH LOCATIONS. VERIDIAN CREDIT UNION ADDED 42,572 NEW MEMBERSHIPS IN 2024. TOTAL LOANS AND DEPOSITS AT 12/31/2024 WERE 6,858,140,556 AND 6,582,483,785, 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 1 0 0 0 0 0 0 1 1 1 0 1 320344 0 1 1284 1 1 1 0 0 0 0 0 1 0 X 13 13 0 0 1 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X KEITH J MESCH 3192366774 1827 ANSBOROUGH AVENUE WATERLOO IA 507013629 STEPHANIE ATKIN CHAIRPERSON 6.00 X X 782 0 0 PAMELA AYRES FORMER BOARD OF DIRECTOR 6.00 X 98 0 0 EMSAD BEGIC BOARD OF DIRECTOR 6.00 X 485 0 0 WILLIAM BOEVERS SECRETARY 6.00 X X 1885 0 0 CYNTHIA BUETTNER BOARD OF DIRECTOR 6.00 X 135 0 0 JAMES KACHER BOARD OF DIRECTOR 6.00 X 0 0 0 BOB KRESSIG BOARD OF DIRECTOR 6.00 X 0 0 0 LARRY LOSS BOARD OF DIRECTOR 6.00 X 1721 0 0 TRACI MCBEE CHAIRPERSON ELECT 6.00 X X 2468 0 0 WILL MONTGOMERY BOARD OF DIRECTOR 6.00 X 2110 0 0 CINDY SPROLE BOARD OF DIRECTOR 6.00 X 798 0 0 JUSTINE TEUT BOARD OF DIRECTOR 6.00 X 24356 0 0 AUBREY WARD BOARD OF DIRECTOR 6.00 X 4534 0 0 NICK WATERS TREASURER 6.00 X X 0 0 0 RENEE CHRISTOFFER PRESIDENT/CEO 50.00 X 1206516 0 301023 KEITH MESCH CHIEF FINANCIAL OFFICER 50.00 X 535227 0 188904 BRETT ENGSTROM CHIEF INFORMATION OFFICER 50.00 X 405967 0 147813 MARK KOPPEDRYER CHIEF EXPERIENCE OFFICER 50.00 X 383968 0 164741 SHAWNA MATZ CHIEF PEOPLE OFFICER 50.00 X 373685 0 123808 KARA VANWERT CHIEF LENDING OFFICER 50.00 X 374342 0 147083 CHRISTI HULME VP OF MEMBER CONTACT CENTER 50.00 X 250036 0 87977 EMILY L KUNTZ VP - CONTROLLER 50.00 X 266451 0 85517 GREGORY SLESSOR SENIOR VP OF LEGAL 50.00 X 367523 0 121671 STEVEN LINDAMAN VP OF COMMERCIAL AND MORTGAGE 50.00 X 247201 0 88198 MOLLY SCHMIDT VP OF INFORMATION TECHNOLOGY 50.00 X 224450 0 88928 DOUGLAS GILBERTSON FORMER CHIEF OPERATIONS OFFICER 0.00 X 563602 0 26003 5238340 0 1571666 90 1 1 0 FISERV INC 75 REMITTANCE DR SUITE 1649 CHICAGO IL 60675 DATA PROCESSING 5122361 LANVERA LTD 112 WRANGLER DR 150 COPPELL TX 75019 DOCUMENT OUTSOURCING 3793073 ALKAMI TECHNOLOGY INC 5601 GRANITE PKWY 120 PLANO TX 75024 DATA PROCESSING 3477742 FLYNN WRIGHT 1408 LOCUST STREET DES MOINES IA 50309 ADVERTISING AGENCY 3049958 PRIMUS 401 8TH AVE SE CEDAR RAPIDS IA 52401 OFFICE CONSTRUCTION 2302047 112 INTEREST INCOME - LOANS TO MEMBER 522100 352836957 352836957 FEES AND CHARGES 522100 13281274 13281274 INTEREST INCOME - MEMBER INVESTME 522100 10735175 10735175 SALE OF SERVICES 522100 5933648 5185282 748366 ATM - POINT OF SALE 522100 4173719 3883535 290184 386960773 24122522 24122522 314341 502776 -188435 -188435 -188435 108308048 1390934 109182423 351478 -874375 1039456 165081 165081 VISA INTERCHANGE 522100 35008423 35008423 OVERDRAFT/NSF FEES 522100 11823624 11823624 MISCELLANEOUS INCOME 900099 1863531 1863531 48695578 459755519 434617801 1038550 24099168 985368 4942683 42147 61063469 8818893 13009401 4507011 315962 458226 118282 981582 5637491 8945838 5843798 7294855 288639 643232 184622138 5600483 UNRELATED BUSINESS TAXE 310395 PROVISION FOR LOAN LOSS 16585696 LOAN SERVICING 15581963 PAYMENT SYSTEMS 9457397 10339488 366394437 29427460 33844493 480981963 358488529 49131569 100813415 16123182 16160108 6251403836 6811227230 9769918 12588316 140893891 50562458 88493852 90331433 450460960 460408164 14510789 14104623 61799949 66843129 7452103478 7964809440 94457350 86108490 8602181 7215972 15597812 17652213 410083005 419051065 6175088174 6576993929 6703828522 7107021669 X 0 0 0 0 748274956 857787771 748274956 857787771 7452103478 7964809440 X 93361082 12519353 3632380 X X 0 1 X 1 0 0 1 X 22011674 22011674 78187995 22802634 55385361 3183971 1608129 1575842 35242556 25793175 9449381 2267695 358520 1909175 90331433 BONDS - AVAILABLE FOR SALE 240179405 F CORPORATE CREDIT UNIONS 35150000 C CERTIFICATES OF DEPOSIT 4945000 C FHLB OF DES MOINES 23340000 C PREFUNDED EMPLOYEE BENEFIT ACCOUNT 101876245 F CUSO & EQUITY INVESTMENTS 15862069 C CHARITABLE DONATION ACCOUNT 14699992 F ABS CERTIFICATE 12873027 F ALKAMI TECH INC INVESTMENT 11482426 F 460408164 SHARE SAVINGS 1193719459 SHARE DRAFT 1312090538 MONEY MARKET 671778370 CERTIFICATES 3108116194 IRA 287794401 OPERATING LEASE LIABILITIES 2193857 EXECUTIVE RETENTION 1301110 6576993929 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 (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 CUSO SUBSIDIARY, HOWEVER, IS SUBJECT TO STATE AND FEDERAL INCOME TAXES. AT DECEMBER 31, 2024 AND 2023, THE SUBSIDIARY'S ACCRUED INCOME TAX RECEIVABLE WAS $(3,795) AND $42,985, RESPECTIVELY, WHICH IS INCLUDED IN OTHER ASSETS ON 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 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 CONSOLIDATED 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 IOWA CREDIT UNION LEAGUE PO BOX 8467 DES MOINES IA 50301 830494970 501(C)(6) 100421 0 MEMBER ENGAGEMENT OPERATION THRESHOLD 1535 LAFAYETTE ST WATERLOO IA 50703 420982549 501(C)(3) 100000 0 IDA FUNDING COMMUNITY FOUNDATION OF NORTHEAST IOWA 3117 GREENHILL CIRCLE CEDAR FALLS IA 50613 426060414 501(C)(3) 90000 0 GRANTS AND ONE CEDAR VALLEY FUND GROW CEDAR VALLEY 360 WESTFIELD AVE SUITE 200 WATERLOO IA 50701 421241941 501(C)(6) 37500 0 ECONOMIC DEVELOPMENT UNITED WAY OF CENTRAL IOWA 1111 9TH ST SUITE 1000 DES MOINES IA 50314 420680425 501(C)(3) 37000 0 GENERAL SUPPORT CEDAR VALLEY UNITED WAY 425 CEDAR STREET SUITE 300 WATERLOO IA 50701 420801846 501(C)(3) 32000 0 GENERAL SUPPORT HEARTLAND HOPE MISSION 2021 U ST OMAHA NE 68107 141869352 501(C)(3) 25000 0 CAPITAL CAMPAIGN GREATER DES MOINES BOTANICAL GARDEN 909 ROBERT D RAY DR DES MOINES IA 50309 420540765 501(C)(3) 25000 0 CAPITAL CAMPAIGN HOUSE OF HOPE 845 W 4TH ST WATERLOO IA 50702 421397528 501(C)(3) 20000 0 CAPITAL CAMPAIGN ANAWIM HOUSING 1750 48TH STREET SUITE 100B DES MOINES IA 50310 421310967 501(C)(3) 15000 0 VERIDIAN GIVES BACK DONATION UNITED WAY OF THE MIDLANDS 1229 MILLWORK AVE SUITE 402 OMAHA NE 68102 470376605 501(C)(3) 15000 0 DISASTER RELIEF FUND PAPILLION-LA VISTA SCHOOLS FOUNDATION 420 S WASHINGTON STREET PAPILLION NE 68046 470718860 501(C)(3) 15000 0 FINANCIAL LITERACY ANAWIM HOUSING 1750 48TH ST SUITE 100B DES MOINES IA 50310 421310967 501(C)(3) 14500 0 CAPITAL CAMPAIGN IOWA HEARTLAND HABITAT FOR HUMANITY 803 W 5TH ST WATERLOO IA 50702 421350378 501(C)(3) 14000 0 HOUSING SUPPORT - WOMEN'S BUILD/BLUEPRINTS UNITED WAY OF THE MIDLANDS 2201 FARNUM ST SUITE 200 OMAHA NE 68102 470922285 501(C)(3) 13500 0 GENERAL SUPPORT HABITAT FOR HUMANITY OF MINNESOTA 2171 UNIVERSITY AVE W 3200 ST PAUL MN 55114 411889904 501(C)(3) 11500 0 HABITAT CONFERENCE IOWA CREDIT UNION FOUNDATION 7745 OFFICE PLAZA DR N SUITE 170 WEST DES MOINES IA 50266 421438113 501(C)(3) 10000 0 GENERAL SUPPORT LEADER VALLEY FOUNDATION 360 WESTFIELD AVE SUITE 200 WATERLOO IA 50701 453120883 501(C)(3) 10000 0 LEADER IN ME WATERLOO CAREER ACADEMY - WATERLOO SCHOOL DISTRICT 1350 KATOSKI DR WATERLOO IA 50701 426003910 CITY OF WATERLOO 10000 0 WATERLOO CAREER CENTER NEIGHBORHOOD CENTERS OF JOHNSON COUNTY 2654 ROBERTS RD IOWA CITY IA 52246 421060964 501(C)(3) 10000 0 CAPITAL CAMPAIGN NEWBO MARKET 1100 THIRD ST SE CEDAR RAPIDS IA 52404 270600567 501(C)(3) 10000 0 CAPITAL CAMPAIGN GREATER DES MOINES PARTNERSHIP 700 LOCUST ST SUITE 100 DES MOINES IA 50309 421489668 501(C)(6) 10000 0 ECONOMIC DEVELOPMENT ONE IOWA 950 OFFICE PARK RD SUITE 240 WEST DES MOINES IA 50265 721613927 501(C)(3) 10000 0 WORKPLACE CULTURE SUMMIT UNITED WAY OF EAST CENTRAL IOWA 317 7TH AVE SE NO 401 CEDAR RAPIDS IA 52401 420861239 501(C)(3) 9600 0 GENERAL SUPPORT GREATER DES MOINES HABITAT FOR HUMANITY 2200 E EUCLID DES MOINES IA 50317 421275330 501(C)(3) 9000 0 HOUSING SUPPORT CEDAR VALLEY HABITAT FOR HUMANITY 350 6TH AVE SE CEDAR RAPIDS IA 52401 421320296 501(C)(3) 8500 0 HOUSING SUPPORT REDBRIDGE 2553 N 160TH AVE OMAHA NE 68116 851458937 501(C)(3) 8000 0 FINANCIAL LITERACY UNIVERSITY OF NORTHERN IOWA FOUNDATION 1227 W 27TH ST CEDAR FALLS IA 50614 426058591 501(C)(3) 8000 0 COMMUNITY ENGAGEMENT HABITAT FOR HUMANITY OF OMAHA 1701 N 24TH ST OMAHA NE 68110 363283625 501(C)(3) 7500 0 HOUSING SUPPORT COUNCIL BLUFFS HABITAT FOR HUMANITY 1228 S MAIN ST COUNCIL BLUFFS IA 51503 421394987 501(C)(3) 7500 0 HOUSING SUPPORT UNITED WAY OF GREATER TWIN CITIES PO BOX 856213 MINNEAPOLIS MN 55485 411973442 501(C)(3) 7500 0 GENERAL SUPPORT ADVANCE SOUTHWEST IOWA CORP 149 W BROADWAY COUNCIL BLUFFS IA 51503 464355929 501(C)(6) 7500 0 CAPITAL CAMPAIGN CENTRO LATINO 300 W BROADWAY SUITE 40 COUNCIL BLUFFS IA 51503 202931001 501(C)(3) 7250 0 GENERAL SUPPORT/FINANCIAL LITERACY ANKENY ECONOMIC DEVELOPMENT CORPORATION 110 NORTH ANKENY BLVD SUITE 200 ANKENY IA 50021 851566659 501(C)(6) 7000 0 ECONOMIC DEVELOPMENT UNITED WAY OF OELWEININDY PO BOX 547 OELWEIN IA 50662 421225224 501(C)(3) 6600 0 GENERAL SUPPORT OELWEIN EVENT CORPORATION 6 S FREDERICK OELWEIN IA 60662 872687887 501(C)(3) 6250 0 CAPITAL CAMPAIGN CEDAR RAPIDS ECONOMIC ALLIANCE 501 1ST STREET SE CEDAR RAPIDS IA 52401 420172900 501(C)(6) 6000 0 ECONOMIC DEVELOPMENT WAVERLY ECONOMIC DEVELOPMENT CORPORATION 200 1ST ST NE WAVERLY IA 50677 421263254 501(C)(3) 5500 0 ECONOMIC DEVELOPMENT BUCHANAN COUNTY ECONOMIC DEVELOPMENT PO BOX 109 INDEPENDENCE IA 50644 421441695 501(C)(4) 5150 0 ECONOMIC DEVELOPMENT 32 7 PART I, LINE 2: VERIDIAN CREDIT UNION ISSUES FUNDS TO BE USED AT THE RECIPIENT'S DISCRETION. X 1 1 X X X X 0 1 0 RENEE CHRISTOFFER PRESIDENT/CEO 776269 0 207044 0 223203 0 278433 0 22590 0 1507539 0 190623 0 KEITH MESCH CHIEF FINANCIAL OFFICER 346398 0 86131 0 102698 0 163075 0 25829 0 724131 0 77376 0 DOUGLAS GILBERTSON FORMER CHIEF OPERATIONS OFFICER 447547 0 115659 0 396 0 17874 0 8129 0 589605 0 0 0 BRETT ENGSTROM CHIEF INFORMATION OFFICER 270709 0 64121 0 71137 0 123692 0 24121 0 553780 0 69895 0 MARK KOPPEDRYER CHIEF EXPERIENCE OFFICER 290490 0 64014 0 29464 0 131558 0 33183 0 548709 0 28498 0 KARA VANWERT CHIEF LENDING OFFICER 267350 0 61440 0 45552 0 126923 0 20160 0 521425 0 26688 0 SHAWNA MATZ CHIEF PEOPLE OFFICER 238719 0 56541 0 78425 0 108254 0 15554 0 497493 0 54796 0 GREGORY SLESSOR SENIOR VP OF LEGAL 261772 0 49077 0 56674 0 88836 0 32835 0 489194 0 33044 0 EMILY L KUNTZ VP - CONTROLLER 188782 0 28053 0 49616 0 59705 0 25812 0 351968 0 24810 0 CHRISTI HULME VP OF MEMBER CONTACT CENTER 192253 0 24957 0 32826 0 61049 0 26928 0 338013 0 22733 0 STEVEN LINDAMAN VP OF COMMERCIAL AND MORTGAGE 221940 0 24296 0 965 0 64999 0 23199 0 335399 0 0 0 MOLLY SCHMIDT VP OF INFORMATION TECHNOLOGY 177795 0 24421 0 22234 0 56011 0 32917 0 313378 0 21666 0 PART I, LINE 1A IN TAX YEAR 2024, VERIDIAN CREDIT UNION REIMBURSED TRAVEL EXPENSES INCURRED RELATED TO INDUSTRY CONFERENCES FOR THE COMPANIONS OF WILLIAM BOEVERS, TRACI MCBEE, JUSTINE TEUT, AUBREY WARD, LARRY LOSS, STEPHANIE ATKIN, PAMELA AYRES, EMSAD BEGIC, CYNTHIA BUETTNER, CINDY SPROLE, AND WILL MONTGOMERY. THE AMOUNTS ARE INCLUDED IN REPORTABLE COMPENSATION IN PART VII AND SCHEDULE J. PART I, LINE 4B THE FOLLOWING INDIVIDUALS PARTICIPATED IN A NONQUALIFIED DEFERRED COMPENSATION PLAN IN 2024: RENEE CHRISTOFFER - $235,041 KEITH MESCH - $110,348 BRETT ENGSTROM - $81,283 MARK KOPPEDRYER - $87,066 KARA VANWERT - $83,564 GREGORY SLESSOR - $43,565 SHAWNA MATZ - $72,438 EMILY L KUNTZ - $31,155 STEVEN LINDAMAN - $29,337 CHRISTI HULME - $30,489 MOLLY SCHMIDT - $27,395 THE DOLLAR AMOUNT REPRESENTS THE CURRENT YEAR CONTRIBUTION CREDITS MADE BY VERIDIAN CREDIT UNION ON BEHALF OF THE INDIVIDUALS TO THE PLAN IN 2024. THIS INFORMATION IS INCLUDED IN DEFERRED COMPENSATION ON THE FORM 990, PART VII AND SCHEDULE J, PART II. KARA VANWERT KEY EMPLOYEE MORTGAGE X 228500 145000 0 1 1 RENEE CHRISTOFFER OFFICER COLLATERAL ASSIGNED SPLIT DOLLAR LIFE INSURANCE POLICY X 12649945 13532613 0 1 1 SHAWNA MATZ KEY EMPLOYEE CERTIFICATE SECURED X 27271 21028 0 1 1 SHAWNA MATZ KEY EMPLOYEE COLLATERAL ASSIGNED SPLIT DOLLAR LIFE INSURANCE POLICY X 2339500 2461467 0 1 1 16160108 HANNAH MESCH FAMILY MEMBER OF OFFICER 42147 COMPENSATION 0 FORM 990, PART VI, SECTION A, LINE 4 VERIDIAN CREDIT UNION UPDATED ITS BYLAWS AND BOARD POLICIES TO ALLOW FOR BOARD OF DIRECTORS TO BE COMPENSATED UP TO A CERTAIN AMOUNT PER YEAR FOR THEIR ROLES AND SERVICES. THIS CHANGE IS EFFECTIVE FOR THE CALENDAR YEAR 2025. 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, 6 EASTERN COUNTIES IN NEBRASKA, AND 8 COUNTIES AROUND THE MINNEAPOLIS-ST PAUL METRO IN MINNESOTA. EMPLOYEES OF THE CREDIT UNION'S BUSINESS PARTNERS ARE ALSO ELIGIBLE FOR VERIDIAN CREDIT UNION MEMBERSHIP. MEMBERSHIP ELIGIBILITY IS ALSO OPEN TO ANYONE WHO MAKES A MINIMUM $5 DONATION TO HABITAT FOR HUMANITY. 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 A, LINE 8B VERIDIAN CREDIT UNION DOES NOT HAVE COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 AND ALL THE REQUIRED SCHEDULES ARE REVIEWED EACH YEAR BY THE VP-CONTROLLER. AFTER THE VP-CONTROLLER HAS COMPLETED THEIR REVIEW, THE CHIEF FINANCIAL OFFICER, KEITH MESCH, THEN REVIEWS THE FORM 990 AND ALL REQUIRED SCHEDULES. AMOUNTS REPORTED ON THE 990 ARE SUPPORTED WITH VARIOUS WORK PAPERS CONTAINING INFORMATION OBTAINED FROM THE GENERAL LEDGER ACCOUNTING SOFTWARE AND PAYROLL PROCESSOR. THE VP-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 POSTED TO VERIDIAN'S BOARD EXTRANET FOR THE BOARD MEMBERS TO REVIEW PRIOR TO ELECTRONIC FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C VERIDIAN CREDIT UNION HAS A CONFLICT OF INTEREST POLICY THAT COVERS INTERESTED PERSONS. AN INTERESTED PERSON IS ALL VERIDIAN CREDIT UNION EMPLOYEES, DIRECTORS, AND OFFICERS. 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 ALL INTERESTED PERSONS AND SUBMITTED TO THE CHIEF FINANCIAL OFFICER OR BOARD CHAIR WITHIN 30 DAYS OF JANUARY 1 OF EACH YEAR. ANY APPARENT CONFLICT OF INTEREST SHALL BE RESOLVED BY THE CHIEF FINANCIAL OFFICER AND/OR AUDIT COMMITTEE WITH THE INDIVIDUAL. THE INTERNAL AUDIT STAFF OVERSEE THIS CREDIT UNION POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS OF DETERMINING COMPENSATION FOR ALL EMPLOYEES OF THE CREDIT UNION, INCLUDING THE CHIEF EXECUTIVE OFFICER 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. THIS PROCESS WAS LAST COMPLETED IN THE 4TH QUARTER OF 2024. FORM 990, PART VI, SECTION C, LINE 19 VERIDIAN CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND AUDITED 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 3,632,380. FORM 990, PART XII, LINE 2C: THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR TAX YEAR. THE VERIDIAN GROUP 1827 ANSBOROUGH AVE WATERLOO IA 50701 421263291 INSURANCE AND PAYROLL PROCESSING IA VERIDIAN CREDIT UNION C 7845296 9060916 1.00000 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 95179 FAIR MARKET VALUE THE VERIDIAN GROUP INC L 382137 FAIR MARKET VALUE