2018-11-15T12:10:51-06:00 2017-12-31 410746749 CLIFTONLARSONALLEN LLP PO BOX 586 OWATONNA MN 550600586 990 2017-01-01 420794732 AFFINITY CREDIT UNION AFFI 5152887225 475 NW HOFFMAN LANE DES MOINES IA 50313 JIM DEAN CEO 5152887225 2018-11-15 1 MARTY LIENAU P00001025 5074467100 2018-11-14 67.137.57.251 2018-11-15 09:40:45 CS P 3EEEC8B090C07D7EECF61F1A8A191FC1967D2E7A 2FB13AE82846AA91096501B2C4C574A7F21EA58D 2017 2019-02-21 02:37:17Z JIM DEAN 475 NW HOFFMAN LANE DES MOINES IA 50313 7334172 0 X WWW.AFFINITYCUIA.ORG X 1949 IA AFFINITY CREDIT UNION IS COMMITTED TO PROVIDING INNOVATIVE AND EXCELLENT PERSONAL SERVICE AND FINANCIAL PRODUCTS TO OUR MEMBERS. 9 9 51 0 78450 -45118 0 0 3989854 7261662 54598 72510 2189394 0 6233846 7334172 0 0 0 538589 1956506 2293299 0 0 0 3048304 3929701 5004810 6761589 1229036 572583 95866702 110637287 86388600 100528332 9478102 10108955 AFFINITY CREDIT UNION IS COMMITTED TO PROVIDING INNOVATIVE AND EXCELLENT SERVICE AND FINANCIAL PRODUCTS TO OUR MEMBERSHIP WHILE MAINTAINING FINANCIAL STABILITY. 0 0 AFFINITY CREDIT UNION PROVIDES A WIDE VARIETY OF SERVICES TO ITS MEMBERS. AFFINITY PROVIDES ECONOMICAL SAVINGS, CHECKING, AND OTHER DEPOSIT SERVICES. AFFINITY ALSO PROVIDES BUSINESS, CONSUMER, AND REAL ESTATE LOANS. WE ALSO PROVIDE VARIOUS FINANCIAL ASSISTANCE/EDUCATION FOR MEMBER OF ALL AGES. AFFINITY SERVED 12,675 MEMBERS IN 2017. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 201 0 1 51 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 0 0 0 0 X X X HEIDI SHAW 5152887225 475 NW HOFFMAN LANE DES MOINES IA 50313 CHRISTIAN QUIJANO CHAIRPERSON 2.00 X X 0 0 0 DAVID BUSCH VICE CHAIRPERSON 1.00 X X 0 0 0 ANDY ROBY DIRECTOR 1.00 X 0 0 0 JAMES MARTENS DIRECTOR 1.00 X 0 0 0 JENELLE PATTERSON DIRECTOR 1.00 X 0 0 0 JOSH GIESMANN DIRECTOR 1.00 X 0 0 0 KYLE JOHNSON DIRECTOR 1.00 X 0 0 0 LEE ROY PORTER TREASURER 1.00 X X 0 0 0 MARJORIE RAMSEY SECRETARY 1.00 X X 0 0 0 ANDY FOGLE CEO-PART YEAR 40.00 X 148524 0 15211 JUSTIN WILLIAMS CFO 40.00 X 161719 0 19591 JASON CROOKS CEO-PART YEAR 40.00 X 15050 0 452 JOSH MURPHY VP OF LOANS 40.00 X 119183 0 13036 444476 0 48290 3 0 1 0 FISERV 75 REMITTANCE DR SUITE 1649 CHICAGO IL 60675 DATA PROCESSOR 910548 1 LOAN INTEREST 522100 4745110 4745110 FEE INCOME 522100 2516552 2438102 78450 7261662 72510 72510 7334172 7183212 78450 72510 538589 360547 1447626 48119 262113 174894 85367 42080 252692 158904 310007 115975 184077 34972 15512 21661 21918 182874 51011 PROVISION FOR LOAN LOSS 1251000 DEBIT/CREDIT CARD EXPEN 611446 LOAN EXPENSES 215574 ONLINE SERVICES 189556 185075 6761589 916293 1099228 9632956 9585770 53204 78574947 93789181 191085 264330 4528574 1657279 1839643 2871295 500000 500000 2416900 944100 1794878 1530179 95866702 110637287 2556575 2275318 83832025 98253014 86388600 100528332 X 0 0 4234627 5269727 5243475 4839228 9478102 10108955 95866702 110637287 X 572583 58270 X X 0 1 X 1 0 283648 283648 3171293 1250085 1921208 764062 407194 356868 309571 309571 2871295 MEMBER SHARES 98253014 98253014 X 7334172 0 7334172 0 7334172 6761589 0 6761589 0 6761589 PART X, LINE 2: THE CREDIT UNION IS EXEMPT BY STATUE FROM FEDERAL AND STATE INCOME TAXES. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. THE CREDIT UNION EVALUATES UNCERTAIN TAX BENEFITS ARISING FROM TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN UPON THE LIKELIHOOD OF BEING SUSTAINED UPON EXAMINATION BY APPLICABLE TAX AUTHORITIES. IF THE CREDIT UNION DETERMINES THAT A TAX POSITION IS MORE LIKELY THAN NOT OF BEING SUSTAINED, IT RECONGNIZES THE LARGEST AMOUNT OF THE ARISING BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED UPON SETTLEMENT IN THE FINANCIAL STATEMENTS. ANY TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT DO NOT PASS THE MORE LIKELY THAN NOT TEST, THE CREDIT UNION ESTABLISHES RESERVES OFFSETTING THE BENEFITS RELATED TO SUCH POSITIONS. INTEREST AND PENALTIES, IF ANY, ARE INCLUDED IN THE CURRENT PERIOD PROVISION FOR INCOME TAXES IN THE CREDIT UNION'S STATEMENT OF INCOME AND ARE INCLUDED AS A CURRENT LIABILITY IN THE BALANCE SHEET. 0 0 0 ANDY FOGLE CEO-PART YEAR 135439 0 9646 0 3439 0 3183 0 12028 0 163735 0 0 0 JUSTIN WILLIAMS CFO 115773 0 45769 0 177 0 5025 0 14566 0 181310 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS A CREDIT UNION WITH MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE ENTIRE BOARD OF DIRECTORS IS VOTED ON BY THE MEMBERSHIP OUT OF THE MEMBERSHIP. EVERY YEAR THERE ARE THREE POSITIONS UP FOR ELECTIONS FOR THREE YEAR TERMS (9 BOARD MEMBERS). BOARD MEMBERS COME OUT OF THE GENERAL MEMBERSHIP AND ANY MEMBER IN GOOD STANDING CAN RUN FOR THE BOARD. A MEMBER IN GOOD STANDING IS ONE WHO IS NOT DELINQUENT ON LOAN PAYMENTS, HAS THE MINIMUM $5 MEMBERSHIP AMOUNT ON DEPOSIT, AND HAD NOT CAUSED THE CREDIT UNION A LOSS (CHARGED OFF). FOR BOARD/VOTING PURPOSES THE MEMBER MUST ALSO BE AT LEAST 16 YEARS OLD. EACH MEMBER HAS ONE VOTE FOR EACH OPEN POSITION. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERSHIP OF THE CREDIT UNION IS REQUIRED TO VOTE ON ANY ACTION THAT WOULD CHANGE THE BYLAWS OF THE CREDIT UNION. THIS INCLUDES BUT IS NOT LIMITED TO, NAME CHANGE, MERGERS, AND CHARTER CONVERSIONS (CHANGING STRUCTURE AWAY FROM A CREDIT UNION). FORM 990, PART VI, SECTION B, LINE 11B THE CEO AND CFO REVIEW THE FORM AFTER THE CPA FIRM COMPLETES IT BASED ON THE INFORMATION PROVIDED TO THEM BY THE CREDIT UNION. AFTER THE FORM HAS BEEN REVIEWED BY MANAGEMENT ADDITIONAL COPIES ARE MADE AND GIVEN TO THE BOARD OF DIRECTORS TO REVIEW PRIOR TO THE CEO SIGNING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIWED ANNUALLY. THE BOARD OF DIRECTORS AND MANAGEMENT ARE RESPONSIBLE FOR MONITORING. NO DIRECTOR OR CREDIT UNION OFFICIAL HAVING INVESTMENT AUTHORITY WILL CONDUCT PERSONAL TRANSACTIONS WITH ANY OF THE INDIVIDUAL BROKERS THE CREDIT UNION DOES BUSINESS WITH. IN ADDITION, NO DIRECTOR, CREDIT UNION OFFICIAL OR THEIR IMMEDIATE FAMILY WILL RECEIVE ANY FINANCIAL CONSIDERATION IN CONNECTION WITH THE MAKING OF ANY INVESTMENT. FORM 990, PART VI, SECTION B, LINE 15 IPERFORMEASE AND COMPEASE SOFTWARE IS USED TO ESTABLISH AND MAINTAIN JOB PAY SCALES AND ENSURE EQUITABLE REVIEWS FOR EMPLOYEES IN THE SAME JOB CLASS AND INCLUDES WRITTEN JOB DESCRIPTIONS WITH WRITTEN EXPECTATIONS THAT ARE USED BY THE IMMEDIATE SUPERVISOR TO CREATE THE PERFORMANCE REVIEW THAT IS REVIEWED BY TWO LEVELS OF UPPER MANAGEMENT. FORM 990, PART VI, SECTION C, LINE 18 A COPY OF THE CURRENT 990 IS KEPT AT THE MAIN OFFICE AND IS AVAILABLE FOR REVIEW DURING NORMAL BUSINESS HOURS. FORM 990, PART VI, SECTION C, LINE 19 THE MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY OF EACH OF THE BRANCHES. FORM 990, PART XI, LINE 9: UNREALIZED GAIN ON POST EMPLOYMENT HEALTH CARE PLAN 58,270. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTE, WHICH IS COMPOSED OF BOARD MEMBERS, HIRES THE CPA FIRM AND POLICYWORKS TO COME IN AND PERFORM REGULAR OUTSIDE AUDITS AND THE RESULTS ARE REPORTED TO THE FULL BOARD. IF ANY AUDIT WERE TO FIND AN ISSUE OF CONCERN IT WOULD BE REPROTED TO THE COMMITTEE CHAIR AND THE CEO (UNLESS THE CEO WAS PART OF THE PROBLEM). THE CEO ASSISTS IN ENSURING THAT ALL NECESSARY AUDITS OCCUR WHEN NEEDED AS THE AUDIT COMMITTEE MEMBERS ARE ALL VOLUNTEERS AND THE CEO IS ON SITE DAILY. ON A DAILY BASIS THE CEO WORKS WITH THE CFO TO MAINTAIN THE BOOKS AND THE CEO MUST APPROVE AND INITIAL ALL INVOICES BEFORE THEY ARE PAID.