2014-11-12T02:28:25-00:00 2013-12-31 990 2013-01-01 420674206 DUPACO COMMUNITY CREDIT UNION DUPA 5635577600 3299 HILLCREST PO BOX 179 DUBUQUE IA 520040179 DANIELLE D GRATTON SVP FINANCE 2014-10-13 false 2013 2015-11-30 17:44:51Z JOSEPH HEARN 3299 HILLCREST RD DUBUQUE IA 52001 102418624 false X www.dupaco.com X 1948 IA Member-owned financial cooperative that offers a complete line of services. Dupacos vision is To be our members lifetime financial home and our mission is To improve our members financial position and build valued relationships by delivering personalized financial advice, products, and service. 9 9 300 9 48068 -62983 0 49625073 50713272 13878819 13560606 392990 349982 63896882 64623860 0 0 15579421 15949236 0 0 30439395 30064559 46018816 46013795 17878066 18610065 1067663560 1123457400 930905930 984652778 136757630 138804622 TO IMPROVE OUR MEMBERS FINANCIAL POSITION AND BUILD VALUED RELATIONSHIPS BY DELIVERING PERSONALIZED FINANCIAL ADVICE, PRODUCTS AND SERVICES. false false TO PROMOTE THRIFT AND FINANCIAL LITERACY IN THE COMMUNITIES WHICH WE SERVE. COLLABORATE WITH OUR MEMBERS TO BECOME THEIR LIFETIME FINANCIAL HOME WHILE PROVIDING NO/LOW COST FINANCIAL SERVICES AND COMPETITIVE LOAN AND DEPOSIT RATES false false false false false false false false false true false true false true true true true false false false false false false false false false false false true false false false false false false false false false false false true false false true 60372 0 true 300 true true true false false false false false false false X 9 9 false false false false true true true true true false true true true true true true true true true true false false IL X DANIELLE D GRATTON SVP OF FINANCE 5635577600 3999 PENNSYLVANIA AVE DUBUQUE IA 52002 DENISE DOLAN DIRECTOR 001.00 X 0 0 0 RANDY SKEMP DIRECTOR 001.00 X 0 0 0 RONALD MUSSEHL DIRECTOR 001.00 X 0 0 0 RENEE POPPE DIRECTOR 001.00 X 0 0 0 J STEPHAN CHAPMAN DIRECTOR 001.00 X 0 0 0 RICHARD BURGMEIER DIRECTOR 001.00 X 0 0 0 KEITH LANGAN DIRECTOR 001.00 X 0 0 0 JEFF GONNER DIRECTOR 001.00 X 0 0 0 BOB WETHAL DIRECTOR 001.00 X 0 0 0 GREGG LIDDLE EXE VP RISK MANAGEMENT 040.00 X X 219324 0 22117 JOSEPH HEARN PRESIDENT/CEO 040.00 X X 374695 0 136043 DANIELLE GRATTON SVP FINANCE/CFO 040.00 X X 249558 0 83005 MATT DODDS COO 040.00 X X 225198 0 74888 JOHN KOPPES SVP BUS LENDING 040.00 X 178452 0 18161 LEO COSTELLO SVP BUS DEVELOPMENT 040.00 X 187438 0 59588 NANCY TEKIPPE SVP SERVICE DELIVERY/OPER 040.00 X 169500 0 54733 STEVE ERVOLINO SVP IS/TECH SUPPORT 040.00 X 211427 0 71104 DAVID KLAVITTER SVP MARKETING 040.00 X 183539 0 67684 MICHAEL SCHROEDER VP FINANCIAL SERVICES 040.00 X 157847 0 16464 ROBERT HOEFER CONSULTANT TO THE BOARD OF DIRECTORS 016.00 X 115000 0 0 2271978 603787 11 true true false UNION HOERMANN PO BOX 916 DUBUQUE IA 52004-0916 DUBUQUE IA 520040916 PRINTING SERVICES 407205 PREFERRED HEALTH CHOICES 1605 ASSOCIATES DRIVE SUITE 101 DUBUQUE IA 52002 HEALTH INSURANCE 353439 SHI INTERNATIONAL CORP 290 DAVIDSON AVE SOMERSET NJ 08873 DATA PROCESSING 328107 O'CONNOR & THOMAS PC 700 LOCUST STREET SUITE 200 DUBUQUE IA 52001 LEGAL 228512 THE MEMBERS GROUP 1500 NW 118TH ST DES MOINES IA 50325 CARD PROCESSING 1855642 21 NON-MEMBER ATM FEES 522110 41412 41412 MEMBER SERVICE INCOME 522100 50665204 50665204 GAIN FROM PARTNERSHIP CUSN 900099 6656 6656 50713272 12988134 12988134 143922 143922 143922 37697693 669543 37002708 792056 694985 -122513 572472 MISCELLANEOUS INCOME 900099 206060 206060 206060 64623860 50871264 48068 12988134 0 0 0 0 1247228 0 10628612 1099578 2128367 845451 0 272626 180660 0 0 0 2897140 726356 1301286 0 1552801 0 0 0 9300455 0 1677378 977484 DRAFT CHARGES 1210968 LEGAL RESERVE 2605927 OPERATING EXPENSE 2651741 PROVISION FOR LOAN LOSS 3122113 1587624 46013795 13758526 10928351 41827519 34486624 3945644 1077063 543260296 582896567 822558 860080 36071842 16759074 19761918 19312768 358827725 375335040 68473011 79339359 16986363 19221548 1067663560 1123457400 4986461 4185745 10000000 915919469 980467033 930905930 984652778 X 136757630 138804622 136757630 138804622 1067663560 1123457400 X 18610065 -19169000 2605927 X false true X true false false false 3558376 3558376 20744527 6765707 13978820 11768939 9993367 1775572 19312768 Financial derivatives and other financial products Closely-held equity interests FHLB STOCK 4311200 F CDS/MUTUAL FUNDS 56637851 F DUPACO FINANCIAL SERVICES INVESTMENTS 1390308 F TMG FINANCIAL SERVICES CAP LOAN PROGRAM 17000000 F 79339359 Federal income taxes REGULAR SHARES 157136234 MEMBER SHARES 543554571 CERTIFICATES 279776228 980467033 X 64625220 64625220 -1360 -1360 64623860 43409227 43409227 2604568 2604568 46013795 X 2 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 on examination by taxing authorities, based on technical merits of the position. The Part X Line 2 tax benefits recognized in the financial statements from such a position are 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 derecognition, classification, interest and penalties on income taxes, and accounting in interim periods. This standard did not have an impact on the financial statements and the Credit Union does not have any uncertain tax positions. X 2 The Credit Union recognizes interest and penalties on income taxes as a component of income tax expense. With few exceptions, the Credit Union is no longer subject to U.S federal or state and local income tax examinations by tax authorities for years before 2008. XI 4b Expenses netted with Revenues -1,360 XII 4b Legal Reserves 2,605,927 Expenses netted with Revenues -1,360 1 Rounding X true true X X false true false GREGG LIDDLE EXE VP RISK MANAGEMENT 170467 44565 4292 22117 2612 244053 JOSEPH HEARN PRESIDENT/CEO 268767 86790 19138 136043 1958 512696 DANIELLE GRATTON SVP FINANCE/CFO 186264 58938 4356 83005 1699 334262 JOHN KOPPES SVP BUS LENDING 139012 37459 1981 18161 1857 198470 LEO COSTELLO SVP BUS DEVELOPMENT 126440 57919 3079 59588 1233 248259 NANCY TEKIPPE SVP SERVICE DELIVERY/OPER 129483 38205 1812 54733 1269 225502 STEVE ERVOLINO SVP IS/TECH SUPPORT 154923 52788 3716 71104 1533 284064 DAVID KLAVITTER SVP MARKETING 145138 37408 993 67684 1471 252694 MATT DODDS COO 172236 50440 2522 74888 1482 301568 MICHAEL SCHROEDER VP FINANCIAL SERVICES 52947 104770 130 16464 563 174874 ROBERT HOEFER CONSULTANT TO THE BOARD OF DIRECTORS 115000 11128 126128 Part I Line 1a Health or social club dues are paid for officers or members of the management team of Dupaco Community Credit Union as part of their compensation package. Any dues that are paid to these members are added to their W-2s at the end of the year as reportable compensation. Form 990, Part VI, Section A, Line 6 Membership of Dupaco Community Credit Union includes all eligible persons described below that have an account at the Credit Union. Form 990, Part VI, Section A, Line 7a Membership of Dupaco Community Credit Union shall consist of and be limited to such natural persons and entities eligible by law and as approved from time to time by, and recorded at the office of, the Superintendent of Credit Unions. To be eligible to be a Dupaco member, you must live or work within our 28 county charter area in Eastern Iowa, Northwest Illinois, and Southwest Wisconsin. Form 990, Part VI, Section A, Line 7b There shall be an annual meeting of the members on a date designated by the board of directors. Twenty-two members shall constitute a quorum. If a quorum is not present on the date first designated for annual or special meetings of the credit union, the meetings shall be adjourned for not more than 15 days, and a second notice shall be mailed to or posted for all members stating the time and place of the adjourned meeting and those members present at such adjourned meeting shall constitute a quorum for the transaction of all business. Form 990, Part VI, Section B, Line 11a Every voting member of the board of directors received a copy of the final 2013 990 tax return for Dupaco Community Credit Union to review at the regularly scheduled board meeting prior to the submission of the return to the IRS. Any questions that the board members had in regards to the return were addressed at that time. Form 990, Part VI, Section B, Line 12c Dupaco annually requires all directors and employees to complete a conflict of interest form where all directors and employees list out any member accounts or organizations that would potentially impair their independence with Dupaco Community Credit Union. Upon completion of the forms, the forms are kept in the administration office under a locked file cabinet and are also reviewed by the Internal Auditor. Form 990, Part VI, Section B, Line 15 Annually the personnel committee will meet to determine the wages for the management team and employees. The personnel committee provides its recommendations of salary adjustments to the Board, who then votes on the recommendations. Form 990, Part VI, Section C, Line 19 Dupacos governing documents, conflict of interest policy, and financial statements are posted at each branch location and are also available upon request. Form 990, Part XI, Line 5 The Credit Union is required by regulation to maintain a legal reserve. The reserve is appropriated out of retained earnings. This reserve is not related to the amount of losses actually anticipated and the appropriations, thereto, have not been charged against income. These reserves, which represent regulatory restrictions of retained earnings, are not available for the payment of interest. Transfer to legal reserves was 2,605,927. Form 990, Part XI, Line 5 Securities available for sale are accounted for at fair value and the unrealized holding gains and losses are presented as a separate component of accumulated other comprehensive income. The change in unrealized loss on securities available for sale was 19,169,000. 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