2016-11-15T09:29:58-06:00 2015-12-31 420714325 RSM US LLP 201 N HARRISON STREET SUITE 300 DAVENPORT IA 528011999 990 2015-01-01 366068452 VIBRANT CREDIT UNION VIBR 8003235109 P O BOX 1550 MOLINE IL 61265 MATTHEW MCCOMBS PRESIDENT/CHIEF EXECUTIVE OFFICER 8003235109 2016-11-11 1 JOHN J ROMANO P00227323 5638884000 2015 2017-02-10 21:41:12Z MATTHEW MCCOMBS P O BOX 1550 MOLINE IL 61265 27418911 0 3149 X WWW.VIBRANTCREDITUNION.ORG X 1935 IL WORKING TOGETHER TO IMPROVE THE ECONOMIC WELL-BEING AND QUALITY OF LIFE FOR ALL MEMBERS THROUGH EXCELLENT SERVICE. 9 7 215 9 329387 -236473 0 0 16858741 17180444 515777 1665010 7888778 7875703 25263296 26721157 40535 23780 0 0 9010172 9288774 0 0 0 13294212 15195000 22344919 24507554 2918377 2213603 478186234 545846879 427292879 492739921 50893355 53106958 WORKING TOGETHER TO IMPROVE THE ECONOMIC WELL-BEING AND QUALITY OF LIFE FOR ALL MEMBERS THROUGH EXCELLENT SERVICE. 0 0 PROVIDE CONSIDERABLE LOANS TO MEMBERS. TOTAL NUMBER OF CONSUMER AND MORTGAGE LOANS OUTSTANDING WAS 31,247. PROVIDED DEPOSITORY SERVICES TO APPROXIMATELY 41,482 MEMBERS. PROVIDED CREDIT CARD SERVICES TO APPROXIMATELY 12,478 MEMBERS. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 11673 0 1 215 1 1 1 0 0 0 0 0 X 9 7 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X MATTHEW MCCOMBS PRESIDENTCHIEF OPERATING OFFICER 8003235109 1900 52ND AVENUE MOLINE IL 612661550 TERRY BRAHM DIRECTOR/ FORMER CHIEF EXECUTIVE OFFICER 1.00 X 470465 0 6091 MIKE FRYER DIRECTOR 1.00 X 0 0 0 JULIE GERMERAAD JAMES VICE CHAIRMAN 1.00 X X 0 0 0 ROBERT GOMEZ FORMER DIRECTOR 1.00 X 0 0 0 STEVE KRATZBERG DIRECTOR 1.00 X 0 0 0 NICK KREMER DIRECTOR 1.00 X 0 0 0 BRENT PETERSON DIRECTOR 1.00 X 0 0 0 ZACK SOTTOS DIRECTOR 1.00 X 0 0 0 NICK TARPEIN SECRETARY/TREASURER 1.00 X X 0 0 0 TERESA VANDYKE CHAIRMAN 1.00 X X 0 0 0 MATTHEW MCCOMBS PRESIDENT/CHIEF EXECUTIVE 40.00 X 293083 0 35615 RYAN SOEDT CHIEF FINANCIAL OFFICER 40.00 X 105990 0 7115 STEVE DUCEY CHIEF EXPERIENCE OFFICER 40.00 X 174475 0 30044 SHELLEY GROVES CHIEF LOAN OFFICER 40.00 X 119798 0 5290 STEVE MCATEE CHIEF INFORMATION OFFICER 40.00 X 133591 0 27358 AARON OHLENSEHLE CUSO PRESIDENT 40.00 X 126594 0 21468 1423996 0 132981 6 0 1 0 CENTENNIAL CONTRACTORS 1505 46TH AVENUE MOLINE IL 61265 CONSTRUCTION 1246417 ALKAMI TECHNOLOGY INC 5601 GRANITE PARKWAY SUITE 120 PLANO TX 75024 ONLINE BANKING SERVICES 467376 WINDSTREAM PO BOX 9001013 LOUISVILLE KY 40201 INTERNET 176398 DIEBOLD 1295 STATE STREET SPRINGFIELD MA 01111 SOFTWARE 173392 PARAGON COMMERCIAL INTERIORS 210 EMERSON PLACE DAVENPORT IA 52801 INTERIOR DESIGN 172526 12 LOANS INTEREST 522100 15891284 15891284 LOAN FEES 522100 967509 967509 ATM FEES 522100 321651 196212 125439 17180444 893527 893527 1469237 1528 696226 -1528 773011 771483 771483 DEBIT CARD INCOME 522200 2269536 2269536 OVERDRAFT CHARGES 522100 1968839 1968839 VISA CHARGE INCOME 522200 896662 896662 2740666 2536718 203948 7875703 26721157 24726760 329387 1665010 X 23780 918358 6160173 343143 1281859 585241 51112 110259 1148723 523809 1196748 908464 41483 70892 20463 1729784 200513 DIVIDENDS PAID TO MEMBE 1924856 PROVISION FOR LOAN LOSS 1565011 DECONVERSION EXPENSE 1255496 SERVICE CHARGES & VISA 1166974 3280413 24507554 X 36158580 69094597 733096 546467 403860307 431363493 817941 327578 31359782 12699453 17372612 18660329 19243698 25854415 478186234 545846879 6242786 53521431 493615 518472 420556478 438700018 427292879 492739921 X 0 0 0 0 50893355 53106958 50893355 53106958 478186234 545846879 2213603 0 X X 0 0 0 0 1 X 3383434 3383434 18539438 5287423 13252015 8814478 7016176 1798302 622432 395854 226578 18660329 MEMBER DEPOSIT ACCOUNTS 444113192 EFTS -5413174 438700018 PART IV, LINE 2B: VIBRANT 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. 1 QUAD CITIES CHAMBER OF COMMERCE 130 WEST SECOND STREET DAVENPORT IA 52801 421500610 501(C)(6) 10050 2015 SUPPORT 0 1 PART I, LINE 2: THE ORGANIZATION ISSUES ALL FUNDS DIRECTLY TO THE RECIPIENT ORGANIZATION FOR USE AT ITS DISCRETION. X X 1 1 X X X 0 1 0 TERRY BRAHM DIRECTOR/ FORMER CHIEF EXECUTIVE OFF 0 0 0 0 470465 0 0 0 6091 0 476556 0 0 0 MATTHEW MCCOMBS PRESIDENT/CHIEF EXECUTIVE 256558 0 29565 0 6960 0 15429 0 20186 0 328698 0 0 0 STEVE DUCEY CHIEF EXPERIENCE OFFICER 148208 0 26024 0 243 0 10672 0 19372 0 204519 0 0 0 STEVE MCATEE CHIEF INFORMATION OFFICER 121542 0 11500 0 549 0 8201 0 19157 0 160949 0 0 0 PART I, LINE 1A VIBRANT CREDIT UNION PROVIDES THE FOLLOWING TO INDIVIDUALS REPORTED IN PART VII, SECTION A, LINE 1A: TRAVEL FOR COMPANIONS: THIS BENEFIT IS OFFERED TO THE TOP MANAGEMENT OFFICIAL OF THE ORGANIZATION, AND THE DOLLAR AMOUNT OF THE BENEFIT IS NOT INCLUDED IN REPORTABLE COMPENSATION FOR THE PARTICIPATING INDIVIDUAL. ONE OFFICER RECEIVED THIS BENEFIT IN 2015. HEALTH CLUB DUES: THIS BENEFIT IS OFFERED TO THE TOP MANAGEMENT OFFICIAL OF THE ORGANIZATION. THE DUES ARE INCLUDED IN THE REPORTABLE COMPENSATION FOR THE PARTICIPATING INDIVIDUAL. ONE OFFICERS RECEIVED THIS BENEFIT IN 2015. PART I, LINE 4B PART I, LINE 4B: THE FOLLOWING INDIVIDUALS PARTICIPATED IN A 457(F) PLAN IN 2015 SPONSORED BY VIBRANT CREDIT UNION: TERRY BRAHM - $470,465. THE DOLLAR AMOUNT REPRESENTS THE CURRENT YEAR DISTRIBUTION FROM THE PLAN IN 2015 AND IS INCLUDED IN REPORTABLE COMPENSATION ON FORM 990, PART VII AND SCHEDULE J, PART II. STEVE KRATZBERG DIRECTOR MORTGAGE X 205000 163500 0 1 1 MATTHEW MCCOMBS OFFICER MORTGAGE X 429300 382967 0 1 1 546467 FORM 990, PART VI, SECTION A, LINE 6 VIBRANT CREDIT UNION HAS MEMBERS THAT HAVE THE RIGHT TO ELECT THE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7A VIBRANT CREDIT UNION HAS MEMBERS THAT HAVE THE RIGHT TO ELECT THE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11 RSM US LLP, THE ACCOUNTING FIRM PREPARING THE 990 TAX RETURN FOR VIBRANT CREDIT UNION, WILL PRESENT THE FINAL FORM 990 TO THE BOARD OF DIRECTORS AND PROVIDE AN OVERVIEW OF THE INFORMATION REPORTED SHORTLY AFTER THE FILING OF THE 990. FORM 990, PART VI, SECTION B, LINE 12C EXECUTIVES, MANAGERS, AND EMPLOYEES MUST AVOID ANY CONFLICTS OF INTEREST BETWEEN THEMSELVES AND VIBRANT CREDIT UNION. SPECIFICALLY, NO EXECUTIVE, MANAGER, OR EMPLOYEE SHALL MAKE ANY INVESTMENT, ACCEPT ANY POSITION OR BENEFITS, PARTICIPATE IN ANY TRANSACTION OR BUSINESS ARRANGEMENT OR OTHERWISE ACT IN A MANNER THAT CREATES OR APPEARS TO CREATE A CONFLICT OF INTEREST WITH VIBRANT CREDIT UNION UNLESS SUCH PERSON MAKES FULL DISCLOSURE OF ALL FACTS AND CIRCUMSTANCES TO, AND OBTAINS THE PRIOR WRITTEN APPROVAL OF THE VICE PRESIDENT OF HUMAN RESOURCES. ADDITIONALLY, VIBRANT CREDIT UNION REQUIRES ALL INTERESTED PERSONS DICLOSE ANNUALLY ANY RELATIONSHIP THAT COULD GIVE RISE TO A CONFLICT. FORM 990, PART VI, SECTION B, LINE 15A IN JANUARY THE EXECUTIVE COMMITTEE COMPLETES THE PRESIDENT/CEO'S ANNUAL REVIEW BASED ON TWO SECTIONS: 1. OBJECTIVE FACTORS BASED ON VIBRANT CREDIT UNION'S FINANCIAL PERFORMANCE, AND 2. SUBJECTIVE FACTORS BASED ON HOW THE EXECUTIVE COMMITTEE FEELS THE PRESIDENT/CEO HAS PERFORMED THE DUTIES AND RESPONSIBILITIES OF HIS POSITION. THIS PROCESS RESULTS IN A SUMMARY SCORE THAT IS APPLIED TO A SALARY RANGE TABLE THAT DETERMINES THE YEAR END BONUS PERCENTAGE AND ANNUAL BASE PAY INCREASE OF THE PRESIDENT/CEO. THE ENTIRE PROGRAM WAS DEVELOPED BY BAUSCHKE AND ASSOCIATES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 24E ATM EXPENSE 865,835. MISCELLANEOUS EXPENSE 648,778. CASHBACK CHECKING EXPENSE 260,426. MORTGAGE EXPENSE 254,230. EDUCATION EXPENSE 240,058. DATA PROCESSING EXPENSE 214,990. BILL PAYER EXPENSE 189,520. FORECLOSED REAL ESTATE EXPENSE 122,362. LOAN RECORDING FEE EXPENSE 104,866. SUBSCRIPTIONS & PUBLICATIONS EXPENSE 95,588. SUPERVISION EXPENSE 85,941. VIBRANT ERROR EXPENSE 62,204. LEAGUE DUES & OTHER EXPENSES 60,371. CONSUMER CREDIT REPORT EXPENSE 48,739. REAL ESTATE TAX SERVICE 34,238. FREE CHECK EXPENSE 26,467. SAVINGS WRITE OFF EXPENSE 15,036. PROVISION FOR OVERDRAFT EXPENSE 12,961. EQUIPMENT RENTAL & MAINTENANCE EXPENSE 10,650. VEHICLES IN LIQUIDATION EXPENSE 8,267. FINANCIAL PLANNING EXPENSE 4,256. CHEX SYSTEM/SCREENING EXPENSE 840. CASH OVER(SHORT) EXPENSE 436. PROPERTY CONDITION REPORT 310. I-PAY EXPENSES -51. CHECK LOSS EXPENSE -339. IRS TAX EXPENSE -86,566. FORM 990, PART X, LINE 21 & LINE 25: IN 2015, VIBRANT CREDIT UNION DETERMINED THAT IT WAS MORE APPROPRIATE TO INCLUDE IN COLUMN (B) (END OF YEAR) FOR LINES 21 (ESCROW OR CUSTODIAL ACCOUNT LIABILITY) CERTAIN ITEMS INCLUDED IN PRIOR YEAR FORMS 990 IN LINE 25 (OTHER LIABILITIES). CONFORMING ADJUSTMENTS HAVE BEEN MADE TO THE 2014 BEGINNING OF YEAR AMOUNTS LISTED IN COLUMN (A) OF PART X. FORM 990, PART IV, LINE 12A & PART XII, LINE 2B & 2D THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AUDITED ON A SEPARATE BASIS BY AN INDEPENDENT ACCOUNTANT. HOWEVER, FOR 2015 THE ORGANIZATION'S FINANCIAL STATEMENTS ARE REPORTED ON A SHORT YEAR BASIS FROM APRIL 1, 2015 TO DECEMBER 31, 2015. YOUR INSURANCE SERVICES LLC 1900 52ND AVE MOLINE IL 61265 472114951 INSURANCE SERVICES IL -202607 275882 VIBRANT CREDIT UNION