2015-05-14T10:22:43-05:00 2014-12-31 350921680 CROWE HORWATH LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2014-01-01 366081100 Meadows Credit Union MEAD 8473429300 3350 Salt Creek Lane Arlington Heights IL 60005 Edward Buettner CEO 2015-05-14 true NICOLE BENCIK P00756195 3128997000 2014 2016-02-25 16:41:14Z Edward Buettner 3350 Salt Creek Lane Arlington Heights IL 60005 13795009 false X www.mcuonline.com X 1941 IL The mission is to encourage thrift among its members and create a source of reasonable credit. 7 5 32 5 0 0 0 0 5238376 4850638 32257 224630 0 0 5270633 5075268 0 0 0 0 2073356 2123331 0 0 0 2506148 2230778 4579504 4354109 691129 721159 104677798 107882409 99170630 101609717 5507168 6272692 The mission is to encourage thrift among its members and create a source of reasonable credit. false false LOANS ARE GRANTED TO INDIVIDUALS WHO ARE MEMBERS IN GOOD STANDING WITH THE CREDIT UNION. LOANS CONSIST OF CONSUMER, BUSINESS, AND REAL ESTATE LOANS. THE ORGANIZATION ISSUES SHARE DRAFTS, SHARE CERTIFICATES OF DEPOSIT AND PROVIDES SAVINGS ACCOUNTS TO MEMBERS TO ENCOURAGE THRIFT. THE ORGANIZATION ALSO OFFERS FINANCIAL PLANNING SERVICES TO ITS MEMBERS. 0 false false false false false false false false true true false false true true false true false false false false false false false false false false false true false false false false false false false false false false true false false false true 1581 0 true 32 true false false false false false false X 7 5 false false false false true true true true true false false true true true true true true false false false X Gary Leland 8473429300 3350 Salt Creek Lane Arlington Heights IL 60005 EDWARD BUETTNER CEO 40.00 0 X X 146355 0 20645 GARY LELAND CHIEF OPERATING OFFICER 40.00 0 X X 124304 0 21018 ROSE HERZOG VICE CHAIRMAN & SECRETARY/TREASURY 1.00 0 X X 0 0 0 John Foley DIRECTOR 1.00 0 X 0 0 0 CARL LA MELL DIRECTOR 1.00 0 X 0 0 0 RICHARD J BATLINER DIRECTOR 1.00 0 X 0 0 0 DANIEL WENTZLOFF DIRECTOR 1.00 0 X 0 0 0 270659 0 41663 0 false true false VANTIV 8500 Governors Hill Dr Symmes Township OH 45429 DEBIT & ATM CARD PROCESSING 228550 AVALON REALTY SERVICES 3315 Algonquin Road Suite 600 ROLLING MEADOWS IL 60008 REALTY SERVICES 210253 FISERV 75 Remittance Drive Suite 1649 Chicago IL 60675 CORE DATA PROCESSING SUPPORT 199777 FUNDSXPRESS FINANCIAL NETWORK INC PO BOX 310464 Des Moines IA 50331 ONLINE BANKING AND ONLINE BILL PAY 101722 4 X 0 Interest on member loans 522100 3314417 3314417 Fees and charges to members 522100 1371211 1371211 Insurance income 522100 45893 45893 Other processing income 522100 15120 15120 103997 103997 0 0 4850638 255818 255818 0 0 8504980 183573 8502170 217571 2810 -33998 -31188 -31188 0 0 0 0 0 5075268 4850638 0 224630 312322 942268 23356 378417 466968 54524 26826 0 0 0 127230 174228 387426 326615 79475 68630 90403 LOAN LOSS PROVISION 327500 Visa card expense 117455 ATM/CHECK CARD EXPENSE 245679 204787 0 0 0 4354109 0 0 0 6243617 7725357 9924170 17488959 513828 583528 0 0 77309465 72547069 190745 268392 5427253 4484205 1068301 943048 7003066 5849001 0 2424606 2477055 104677798 107882409 377115 338555 0 98793515 101271162 99170630 101609717 X 5507168 6272692 5507168 6272692 104677798 107882409 721159 44365 0 X false true X true false 611014 457424 153590 4200188 4026781 173407 616051 616051 943048 Investment in Business Spectrum Resource 210564 F Mortgage-Backed Securities 5058337 F FHLB STOCK INVESTMENT 545100 F Investment in CU Direct Co 35000 F 5849001 Member share accounts 101271162 101271162 X Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The Credit Union is exempt, by statute, from federal and state income taxes. The Credit Union does, however, pay sales tax, property tax, payroll taxes, and federal and state income tax on unrelated business activities. The Internal Revenue Service (IRS) and certain taxing authorities are evaluating what, if any, products and services provided by state chartered credit unions or their credit union service organizations are subject to unrelated business income tax (UBIT). There is currently very little guidance in the IRS Code on what activities should be subject to UBIT. The IRS has issued certain technical advice memorandums identifying certain activities as being subject to UBIT. As a result, at this time there is uncertainty regarding whether state chartered credit unions should pay income tax on certain types of net taxable income from activities that may be considered by taxing authorities as unrelated to the purpose for which credit unions were granted non-taxable status. The tax liability recorded by the Credit Union as of December 31, 2014 and 2013 attributed to unrelated business activities was not material. A tax position will be recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized will be the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit will be recorded. There is no accrual necessary at year-end 2014 and 2013. The Credit Union recognizes interest and/or penalties related to income tax matters in the operations section of the consolidated statement of income. No interest or penalties were incurred during 2014 and 2013. X X false false false EDWARD BUETTNER CEO 146240 0 0 0 115 0 3042 0 17603 0 167000 0 0 0 Form 990, Part VI, Line 15a PROCESS USED TO ESTABLISH COMPENSATION FOR TOP MANAGEMENT OFFICIAL THE CEO'S COMPENSATION IS APPROVED BY THE BOARD USING COMPARABILITY DATA SUCH AS A CREDIT UNION INDUSTRY COMPENSATION SURVEY. THE APPROVAL WAS DOCUMENTED IN THE CEO'S PERSONNEL FILE. THE LAST CEO COMPENSATION REVIEW AND INCREASE WAS IN 2005. Form 990, Part VI, Line 15b PROCESS USED TO ESTABLISH COMPENSATION FOR OTHER OFFICERS THE COO'S COMPENSATION IS APPROVED BY THE BOARD USING COMPARABILITY DATA SUCH AS A CREDIT UNION INDUSTRY COMPENSATION SURVEY. THE APPROVAL WAS DOCUMENTED IN THE COO'S PERSONNEL FILE. THE LAST COO COMPENSATION REVIEW AND INCREASE WAS IN 2005. Form 990, Part VI, Line 6 Classes of members or stockholders Membership is available to individuals who work for any of our 400 Corporate Partner Companies; are related to an existing member; or live in the community. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body Members have the right to appoint or elect any of the Board of Directors. Every member has the right to vote the number of shares owned for as many persons as there are directors to be elected. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders The following decisions are subject to the approval of all members: 1) any change in the organization's charter, 2) any amendments to the Articles of Incorporation, 3) the voluntary liquidation of the organization, and 4) a merger with another organization where MCU is not the surviving institution. Form 990, Part VI, Line 11b Review of form 990 by governing body Management will review the return with the paid tax preparer. A copy of the Form 990 is then supplied to the full Board prior to filing the Form with the IRS. Form 990, Part VI, Line 12c Conflict of interest policy The organization sent out the Conflict of Interest Questionnaire electronically. The questionnaires were reviewed by the Controller to determine if a conflict existed. If a conflict existed, that person would abstain from voting. Form 990, Part VI, Line 19 Required documents available to the public Governing documents, conflict of interest policy, and financial statements are not available to the public. Form 990, Part VIII, Line 2f Other Program Service Revenue Other income - Total Revenue: 103997, Related or Exempt Function Revenue: 103997, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; ORCHARD FINANCIAL LLC 3350 SALT CREEK LANE ARLINGTON HEIGHTS IL 60005 364350185 INSURANCE SERVICES IL 0 0 MCU