2013-04-04T09:50:30-05:00 2012-12-31 421186197 GARDINER THOMSEN 10555 NEW YORK AVENUE SUITE 200 DES MOINES IA 50322 990 2012-01-01 420816632 MIDLAND CREDIT UNION MIDL 5152781994 2891 106TH STREET URBANDALE IA 50322 BECKY DEVRIES 5152781994 2013-04-03 1 C L TELK JR CPA P00888922 5152701446 2012 2016-02-25 16:41:14Z BECKY DEVRIES 2891 106TH STREET URBANDALE IA 50322 2049019 0 X WWW.MIDLANDCU.ORG X 1933 IA PEOPLE HELPING PEOPLE; LOW COST LOANS, LOW COST SHARES AND SHARE DRAFTS, CERTIFICATES OF DEPOSIT WITH RATES ABOVE BANKS. 9 9 25 0 0 0 0 0 1220042 1181118 232985 192766 611097 649180 2064124 2023064 4280 0 0 0 753044 792573 0 0 0 1191714 1201525 1949038 1994098 115086 28966 37112086 39377789 31311873 33548607 5800213 5829182 PEOPLE HELPING PEOPLE; LOW COST LOANS, LOW COST SHARES AND SHARE DRAFTS, CERTIFICATES OF DEPOSIT WITH RATES ABOVE BANKS. 0 0 1994098 2019710 MIDLAND CREDIT UNION OFFERS A VARIETY OF SERVICES TO ITS MEMBERS. FOR THE 2012 TAX YEAR THEY SERVICED 2,400 SHARE DRAFT-CHECKING ACCOUNTS, OFFERED 4,500 SAVINGS AND CERTIFICATES ACCOUNTS AND MAINTAINED 1,400 CONSUMER AND MORTAGE LOANS. 1994098 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 920 0 1 25 1 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 0 0 1 1 1 1 1 X BECKY DEVRIES 5152781994 2891 106TH STREET URBANDALE IA 50322 WARREN ALDRICH 1.00 X 0 0 0 DALE MCCLEISH 1.00 X 0 0 0 NORMAN TRENTMANN 2.00 X 0 0 0 PAUL MITCHELL 1.00 X 0 0 0 ROBERT ROSS 1.00 X 0 0 0 LINDA GAST 1.00 X 0 0 0 STEVEN CORREA 1.00 X 0 0 0 STEVE SEAMEN 1.00 X 0 0 0 ZACHARY SMITH 1.00 X 0 0 0 REBECCA R DEVRIES 55.00 X 99496 0 6196 HOLLY BERNAL 44.00 X 78074 0 7253 177570 0 13449 0 0 0 0 0 LOAN INTEREST 522100 1181118 1181118 1181118 189412 189412 29309 25955 3354 3354 3354 CREDIT/DEBIT CARD 522100 271950 271950 NSF CHARGES 522100 200040 200040 177190 177190 649180 2023064 2019710 0 3354 191019 191019 481342 481342 9792 9792 52102 52102 58318 58318 489 489 17210 17210 76917 76917 154954 154954 94136 94136 101492 101492 332 332 17961 17961 161548 161548 14901 14901 67001 67001 32655 32655 DEBIT/CREDIT CARD EXPEN 228666 228666 RENTAL EXPENSE 47367 47367 NCUA SHARE INSURANCE 30629 30629 155267 155267 1994098 1994098 0 0 406084 266631 4368200 3681024 22343436 23914661 75905 60456 1402419 710178 694307 692241 8726326 10160516 497828 602260 37112086 39377789 234395 237762 31077478 33310845 31311873 33548607 X 0 0 1401361 1401361 4398852 4427821 5800213 5829182 37112086 39377789 28966 3 0 X X 0 1 X 1 0 140000 140000 733876 348734 385142 72878 60150 12728 123424 98551 24873 332241 202743 129498 692241 CORPORATE CENTRAL MEMBERS SHARES 106927 C NBC RESERVE 12 MONTH CERTIFICATE 800000 C BANK CERTIFICATES OF DEPOSITS 9253589 C 10160516 MEMBER SHARES 33310845 33310845 2023064 0 2023064 0 2023064 1994098 0 1994098 0 1994098 IN ACCORDANCE WITH ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES UNDER THE INCOME TAXES TOPIC OF THE FASB ASC THE CREDIT UNION RECOGNIZES ANY UNCERTAIN TAX BENEFITS IF SUCH BENEFITS ARE A RESULT OF A TAX POSITION THAT IS MORE LIKELY THAN NOT SUSTAINABLE UPON EXAMINATION BY FEDERAL OR STATE TAX AUTHORITIES. WHEN AN UNCERTAIN BENEFIT IS DETERMINED TO BE MORE LIKELY THAN NOT SUSTAINED, THE CREDIT UNION VALUES THE POSITION, FOR FINANCIAL STATEMENT PURPOSES, OF THE LARGEST AMOUNT OF THE TAX BENEFIT THAT IS MORE THAN 50% LIKELY OF BEING REALIZED UPON RESOLUTION OF THE BENEFIT. FOR ANY TAX POSITIONS TAKEN THAT DO NOT MEET THE MORE LIKELY THAN NOT CRITERIA, THE CREDIT UNION ESTABLISHES A TAX RESERVE FOR 100% OF THE POSITION TAKEN. FORM 990, PART VI, SECTION A, LINE 6 MIDLAND CREDIT UNION IS SUPPORTED BY MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE ORGANIZATION HAVE THE RIGHT TO VOTE FOR ONE OR MORE MEMBERS OF THE GOVERNING BODY AT ANNUAL MEETINGS. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO THE BYLAWAS ARE AT TIMES APPROVED BY THE MEMBERS EITHER AT THE ANNUAL MEETING OR SPECIAL MEETINGS HELD. FORM 990, PART VI, SECTION B, LINE 11 THE CEO WORKS CLOSELY WITH THE AUDITORS IN PROVIDING THE NECESSARY FINANCIAL INFORMATION TO PREPARE A FINANCIAL AUDIT. THE TAX RETURN IS BASED UPON THE AUDITED FINANCIAL STATEMENTS. UPON COMPLETION OF THE 990 RETURN THE CEO WILL DO A THOROUGH REVIEW AND SIGN. FORM 990, PART VI, SECTION B, LINE 15 MIDLAND CREDIT UNION'S COMPENSATION PROGRAM CONSISTS OF THESE STEPS: 1) AN OUTSIDE SERVICE PROVIDES THE ORGANIZATION WITH SURVEY THAT IS USED AS A BENCHMARK FOR THEIR ENTIRE ORGANIZATION 2)COMPENSATION FOR CEO IS APPROVED BY THE BOARD 3)COMPENSATION FOR THE REST OF THE STAFF IS SET BY THE CEO WITHIN THE BOARD APPROVED BUDGET. THROUGH THE ENTIRE PROCESS THERE IS CONTEMPORANEOUS SUBSTANIATION OF THE DELIBERATION AND DECISION. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE LOBBIES. THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. MIDLAND CREDIT UNION HAS AN AUDIT COMMITTEE THAT OVERSEAS THE AUDIT PROCESS AND SELECTION OF ITS AUDITORS. THE AUDIT COMMITTEE WILL ALSO REVIEW THE ISSUED AUDITED FINANCIAL STATEMENTS WITH THE AUDITOR UPON COMPLETION.