2013-08-05T02:11:42-00:00 2012-12-31 990 2012-01-01 420674206 DUPACO COMMUNITY CREDIT UNION DUPA 5635577600 3299 HILLCREST PO BOX 179 DUBUQUE IA 520040179 DANIELLE D GRATTON 2013-08-05 false 2012 2016-02-24 21:20:13Z JOSEPH HEARN 3299 HILLCREST RD DUBUQUE IA 52001 146795222 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 9 285 9 45516 -73257 0 43976286 49625073 15801083 13878819 675474 392990 60452843 63896882 0 0 14249318 15579421 0 0 31465446 30439395 45714764 46018816 14738079 17878066 975136780 1067663560 861937820 930905930 113198960 136757630 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 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 58949 0 true 285 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 IL X DANIELLE D GRATTON SVP OF FINANCE 5635577600 3999 PENNSYLVANIA AVE DUBUQUE IA 52002 DENISE DOLAN 001.00 X 0 0 0 RANDY SKEMP 001.00 X 0 0 0 RONALD MUSSEHL 001.00 X 0 0 0 RENEE POPPE 001.00 X 0 0 0 J STEPHAN CHAPMAN 001.00 X 0 0 0 RICHARD BURGMEIER 001.00 X 0 0 0 KEITH LANGAN 001.00 X 0 0 0 JEFF GONNER 001.00 X 0 0 0 BOB WETHAL 001.00 X 0 0 0 ROBERT HOEFER 040.00 X X 303088 0 16493 GREGG LIDDLE 040.00 X X 214810 0 21778 JOSEPH HEARN 040.00 X X 351452 0 135356 DANIELLE GRATTON 040.00 X X 214277 0 20898 MATT DODDS 040.00 X X 192020 0 19666 JOHN KOPPES 040.00 X 182148 0 18346 LEO COSTELLO 040.00 X 184081 0 18571 NANCY TEKIPPE 040.00 X 165646 0 67022 STEVE ERVOLINO 040.00 X 199312 0 20485 DAVID KLAVITTER 040.00 X 174634 0 18697 MICHAEL SCHROEDER 040.00 X 140946 0 14656 2322414 371968 14 false true false UNION HOERMANN PO BOX 916 DUBUQUE IA 52004-0916 DUBUQUE IA 520040916 PRINTING SERVICES 316475 HARLAND FINANCIAL SOLUTIONS PO BOX 535120 ATLANTA GA 303535120 DATA PROCESSING SERVICES 236130 DAKOTA SECURITY SYSTEMS INC 2201 E 54TH STREET NORTH SIOUX FALLS SD 57104 SECURITY 209583 MCKESSON TECHNOLOGIES INC PO BOX 98347 CHICAGO IL 60693 STATEMENTS 175376 NUSOURCE FINANCIAL INC 9749 HAMILTON ROAD EDEN PRAIRIE MN 55344 ATM SERVICES 171991 18 NON-MEMBER ATM FEES 522110 40063 40063 MEMBER SERVICE INCOME 522100 49579557 49579557 GAIN FROM PARTNERSHIP CUSN 900099 5453 5453 49625073 13460831 13460831 147360 147360 147360 82426636 889692 81723813 1174527 702823 -284835 417988 MISCELLANEOUS INCOME 900099 245630 245630 245630 63896882 49825187 45516 13460831 0 0 0 0 1649815 0 9864889 1042538 2234543 787636 0 202288 183605 0 0 0 2409751 650527 1271466 0 1556624 0 0 0 10516823 0 1824749 1018129 DRAFT CHARGES 1172441 LEGAL RESERVE 3177604 OPERATING EXPENSE 2560555 PROVISION FOR LOAN LOSS 2599503 1295330 46018816 11652489 13758526 23398777 41827519 1777704 3945644 469496906 543260296 991233 822558 34843614 15081696 20609256 19761918 368880801 358827725 62110542 68473011 16219072 16986363 975136780 1067663560 5182627 4986461 10000000 10000000 846755193 915919469 861937820 930905930 X 113198960 136757630 113198960 136757630 975136780 1067663560 X 17878066 2503000 3177604 X false true X true false false false 3558376 3558376 20348364 6201716 14146648 10936874 8879980 2056894 19761918 Financial derivatives and other financial products Closely-held equity interests FHLB STOCK 6449800 F CDS/MUTUAL FUNDS 46183824 F DUPACO FINANCIAL SERVICES INVESTMENTS 839387 F TMG FINANCIAL SERVICES CAP LOAN PROGRAM 15000000 F 68473011 Federal income taxes REGULAR SHARES 136229795 MEMBER SHARES 518074109 CERTIFICATES 261615565 915919469 X 63899463 63899463 -2581 -2581 63896882 42843793 42843793 3175023 3175023 46018816 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 2007. XI 4b Expenses netted with Revenues -2,581 XII 4b Legal Reserves 3,177,604 Expenses netted with Revenues -2,581 Rounding X true true X X false true false ROBERT HOEFER 141286 22455 139347 16493 2140 321721 GREGG LIDDLE 163840 46140 4830 21778 3126 239714 JOSEPH HEARN 249958 86873 14621 135356 1958 488766 DANIELLE GRATTON 158111 52320 3847 20898 1699 236875 JOHN KOPPES 134720 43601 3828 18346 2371 202866 LEO COSTELLO 122706 58579 2796 18571 1233 203885 NANCY TEKIPPE 123090 40856 1700 67022 1269 233937 STEVE ERVOLINO 148817 50050 445 20485 1533 221330 DAVID KLAVITTER 138902 35145 587 18697 1471 194802 MATT DODDS 149794 41926 300 19666 1482 213168 MICHAEL SCHROEDER 54280 86557 109 14656 563 156165 I 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 2012 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 3,177,604. 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 gain on securities available for sale was 2,503,000. 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