2012-05-14T10:00:31-05:00 2011-12-31 CROWE HORWATH LLP 70 West Madison Street Suite 700 Chicago IL 606024903 990 2011-01-01 366081100 MEADOWS CREDIT UNION MEAD 8473429300 3350 Salt Creek Lane Arlington Heights IL 60005 EDWARD BUETTNER 2012-05-03 true P01254056 3128997000 2011 2016-02-24 21:20:13Z EDWARD BUETTNER 3350 Salt Creek Lane Arlington Heights IL 60005 10969601 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 38 5 0 0 0 0 5235201 5348413 538339 342626 0 0 5773540 5691039 0 0 0 0 2549721 2294274 0 0 0 3266080 3174799 5815801 5469073 -42261 221966 116930313 116146744 110724004 111754423 6206309 4392321 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. false 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 false true 3283 0 true 38 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 true true true true X Jeanne Valenta 8473429300 3350 Salt Creek Lane Arlington Heights IL 60005 EDWARD BUETTNER 40.00 X X 160558 0 6533 GARY LELAND 40.00 X X 129073 0 20422 DAVE FRANCKOWIAK 1.00 X 0 0 0 ROSE HERZOG 1.00 X X 0 0 0 DANIEL WENTZLOFF 1.00 X 0 0 0 RICHARD J BATLINER 1.00 X 0 0 0 CARL LA MELL 1.00 X 0 0 0 289631 0 26955 2 false true false FIFTH THIRD PROCESSING SOLUTIONS 5050 KINGSLEY DR CINCINNATI OH 45263 ATM AND DEBIT CARD PROCESSOR 143671 FISERV 4500 SW RESEARCH WAY CORVALLIS OR 97333 SOFTWARE SUPPORT 106228 FUNDSXPRESS FINANCIAL NETWORK INC PO BOX 3366 OMAHA NE 681760400 ONLINE BANKING AND ONLINE BILL PAY 101053 3 0 INTEREST ON MEMBER LOANS 522100 3810542 3810542 FEES AND CHARGES TO MEMBERS 522100 1484187 1484187 OTHER OPERATING INCOME 522100 53684 53684 0 0 0 0 5348413 447401 447401 0 0 0 0 0 5173787 0 5196964 81598 -23177 -81598 -104775 -104775 0 0 0 0 0 0 0 0 5691039 5348413 0 342626 0 316586 1069191 38821 347387 522289 42032 70028 0 76097 114048 204415 444265 434465 392805 91401 61154 LOAN LOSS PROVISION 719000 VISA CARD EXPENSE 111758 ATM/CHECK CARD EXPENSE 234663 LOAN PROCESSING EXPENSE 159787 18881 5469073 0 0 0 2907851 5134032 9304944 7139673 969034 1004985 82895933 85228312 248321 213546 5078753 4166993 920512 911760 17266281 14444150 0 0 2417437 2070286 116930313 116146744 617043 2381547 110106961 109372876 110724004 111754423 X 6206309 4392321 6206309 4392321 116930313 116146744 X 221966 -2035954 X false true true X false 0 0 390400 237861 152539 970940 966267 4673 3717413 2962865 754548 911760 0 0 FHLB STOCK INVESTMENT 754500 C MORTGAGE-BACKED SECURITIES 13455269 F INVESTMENT IN CUSO 234381 C 14444150 0 MEMBER SHARE ACCOUNTS 109372876 109372876 5691039 5469073 221966 105598 0 105598 327564 5796637 105598 0 105598 5691039 0 0 5691039 7610625 2141552 2141552 5469073 0 0 5469073 FIN 48 (ASC 740) footnote Schedule D, Part X, Line 2 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 2011 AND 2010. THE CREDIT UNION RECOGNIZED 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 2011 AND 2010. X X X false false false EDWARD BUETTNER 151443 0 0 0 9115 0 4826 0 1707 0 167091 0 0 0 Classes of members or stockholders Form 990, Part VI, Section A, Line 6 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. Members or stockholders electing members of governing body Form 990, Part VI, Section A, Line 7a 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. Decisions requiring approval by members or stockholders Form 990, Part VI, Section A, Line 7b 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. Review of form 990 by governing body Form 990, Part VI, Section B, Line 11b 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. Conflict of interest policy Form 990, Part VI, Section B, Line 12c 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. Process used to establish compensation of top management official Form 990, Part VI, Section B, Line 15a 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 INCREASE WAS IN 2005. Process used to establish compensation of other officers/key employees Form 990, Part VI, Section B, Line 15b 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 INCREASE WAS IN 2005. Governing documents, conflict of interest policy and financial statements available to the public Form 990, Part VI, Section C, Line 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT AVAILABLE TO THE PUBLIC Other changes in net assets or fund balances Form 990, Part XI, Line 5 NET UNREALIZED GAINS (LOSSES) ON INVESTMENTS - 105598; NCUSIF ASSESSMENTS - -291552; LITIGATION SETTLEMENT - -1850000; ORCHARD FINANCIAL LLC 3350 SALT CREEK LANE ARLINGTON HEIGHTS IL 60005 364350185 INSURANCE SERVICES IL 0 10000 MCU