2023-11-15T15:13:28-06:00 2022-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2022-01-01 376028123 CITIZENS EQUITY FIRST CREDIT UNION CITI 3096337000 PO BOX 1715 PEORIA IL 616561715 WYATT WOLVEN CHIEF FINANCIAL OFFICER 3096333826 2023-11-15 1 WYATT WOLVEN 999009999 1 TANYA MEDGAARDEN P01717240 5074347000 2023-11-15 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z MATTHEW MAMER PO BOX 1715 PEORIA IL 616561715 293106408 0 X WWW.CEFCU.COM X COOPERATIVE 1937 IL PROVIDE QUALITY SERVICE AND PRODUCTS TO IMPROVE THE FINANCIAL WELL BEING OF MEMBERS. 14 13 1216 7 3251424 0 0 0 252729903 269242885 13963326 18356357 4340285 3994638 271033514 291593880 0 0 0 0 90857559 89611507 0 0 0 131240404 155164077 222097963 244775584 48935551 46818296 7718286706 7682726978 7056680190 6954720369 661606516 728006609 PROVIDE QUALITY SERVICE AND PRODUCTS TO IMPROVE THE FINANCIAL WELL BEING OF MEMBERS. 0 0 INTRODUCED HYBRID HELOC, WHICH PROVIDES MEMBERS WITH A HOME EQUITY LINE OF CREDIT AT A VARIABLE RATE, WHILE ALLOWING THEM TO LOCK IN PORTIONS OF THEIR BALANCES AT FIXED RATES AND PAYMENTS. INTRODUCED THE CEFCU CASH BACK MASTERCARD, A CREDIT CARD PRODUCT THAT EARNS CASH BACK ON ALL ELIGIBLE PURCHASES. CONTINUED TO PROVIDE A WIDE VARIETY OF SAVINGS PRODUCTS WITH LOW FEES AND COMPETITIVE RATES. PAID DIVIDENDS TOTALING 22% OF REVENUES INCLUDING A $35 MILLION EXTRAORDINARY DIVIDEND DIVIDED BETWEEN BORROWERS AND SAVERS. PROVIDED A FULL RANGE OF MORTGAGE, CONSUMER, AND BUSINESS LOANS TO MEMBERS AND MEMBER OWNED BUSINESSES. GRANTED OVER $1.7 BILLION IN CONSUMER LOANS, OVER $458 MILLION IN MORTGAGE LOANS, AND OVER $257 MILLION TO MEMBER OWNED BUSINESSES. 0 0 1 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 261730 0 1 1216 1 1 1 0 0 0 0 0 0 0 X 14 13 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X WYATT WOLVEN 3096333826 5401 W DIRKSEN PARKWAY PEORIA IL 616071193 EREC D MONTGOMERY VICE CHAIRMAN 3.00 X X 0 0 0 KAVITA SACHDEV VICE CHAIRMAN 3.00 X X 3047 0 0 TIMOTHY R BRUNTON BOARD MEMBER 3.00 X 2695 0 0 ROBERT M METZINGER BOARD MEMBER 3.00 X 597 0 0 ANGEL G MARTINEZ CHAIRMAN 4.00 X X 1758 0 0 ERIC J RAHN BOARD MEMBER 3.00 X 0 0 0 MATTHEW D JOLIFF SECRETARY 3.00 X X 0 0 0 TODD W BRYANT BOARD MEMBER 3.00 X 0 0 0 SEAN D SCRANTON BOARD MEMBER 3.00 X 1332 0 0 JENNIFER T STRICKLAND BOARD MEMBER 3.00 X 0 0 0 BILLY J FRANK BOARD MEMBER 3.00 X 0 0 0 JADA A HOERR BOARD MEMBER 3.00 X 0 0 0 JOSEPH R NEEDHAM VICE CHAIRMAN 3.00 X X 2923 0 0 MATTHEW J MAMER PRESIDENT-TREASURER 50.00 X X 635349 0 74439 ALYCIA D HIGHTOWER CHIEF PEOPLE OFFICER 50.00 X 250323 0 38695 WYATT S WOLVEN CHIEF FINANCIAL OFFICER 50.00 X 258008 0 28129 MARK A HOFFMIRE CHIEF OPERATIONS OFFICER 50.00 X 316250 0 70180 TIMOTHY I DUNTON CHIEF DELIVERY OFFICER 50.00 X 333592 0 71813 KEVIN D SCHNEIDER CHIEF LEGAL COUNSEL 50.00 X 348150 0 67002 TODD R HALLER VICE PRESIDENT 50.00 X 239127 0 42495 PETER DIAZ CA COMMUNITY PRESIDENT 50.00 X 246832 0 38570 THERESA A LAKE VICE PRESIDENT 50.00 X 224942 0 46720 DENISE GHERE SENIOR VICE PRESIDENT 50.00 X 217605 0 37436 RONALD ROUTH VICE PRESIDENT 50.00 X 175011 0 61724 3257541 0 577203 136 0 1 0 KELLY SCOTT AND MADISON 23983 NETWORK PLACE CHICAGO IL 60601 MARKETING 4913740 Q2 SOFTWARE INC 2975 REGENT BOULEVARD IRVING TX 75320 ELECTRONIC BANKING SOLUTIONS 4262647 QUICKSILVER MAILING SERVICES 2308 NORTH GRAND AVENUE EAST SPRINGFIELD IL 62705 MAILING SERVICES 2195457 LEVI RAY & SHOUP INC 2401 WEST MONROE STREET SPRINGFIELD IL 62704 TECHNOLOGY SOLUTIONS 1716704 MEGA SERVICES INC 140 WEST QUEENWOOD ROAD MORTON IL 61550 COLLECTION RECOVERY 1292776 83 LOAN INTEREST 522100 215571856 215571856 FEES AND CHARGES 522100 53670475 53670475 MEMBER INITIATION FEES 522100 554 554 269242885 18333864 18333864 745176 1962 743214 743214 743214 1533059 1510566 22493 22493 22493 INVESTMENT SERVICES 525990 1889480 1889480 ATM SURCHARGES 522100 1361944 1361944 3251424 291593880 269986099 3251424 18356357 2504282 63728693 7962502 10461568 4954462 1656969 234741 9276755 8165262 5506865 7488631 124395 791291 7963181 1242772 DIVIDENDS 63978714 LOAN LOSSES (NET) 17188001 LOAN SERVICING 7211228 NON-OPERATING EXPENSES 130720 24204552 244775584 80553407 94597427 570049445 186240926 8237652 9028783 4907242791 5477746619 5124949 6603634 186222182 107978076 81467711 78244106 1953992746 1706170781 10207000 5595000 14519015 25788914 86891990 92710788 7718286706 7682726978 151983781 97747336 2909656 2768922 23698238 24574767 6878088515 6829629344 7056680190 6954720369 X 0 0 0 0 661606516 728006609 661606516 728006609 7718286706 7682726978 X 46818296 -40907611 60489408 X X 0 1 X 1 0 39750 24750 15000 39750 1 CREDIT UNION PAC 1807 W DIEHL ROAD NAPERVILLE IL 60566 393092340 15000 0 PART 1-A, LINE 1: POLITICAL ACTIVITIES INCLUDED: CONTRIBUTIONS TO CREDIT UNION RELATED POLITICAL ACTION COMMITTEES. CONTRIBUTIONS TO FUND RAISING EVENTS OF ORGANIZATIONS THAT SUPPORT POLITICAL PARTIES AND/OR CANDIDATES. 0 1 X 18105143 18105143 82153395 36768247 45385148 4140496 2478304 1662192 81823148 68731525 13091623 78244106 MEMBER SHARES 6829629344 6829629344 X 292060568 466688 466688 291593880 0 291593880 245242272 466688 466688 244775584 0 244775584 PART IV, LINE 2B: CEFCU MAINTAINS FUNDS ON BEHALF OF CERTAIN MEMBERS IN ORDER TO PAY ANNUAL PROPERTY TAXES AND INSURANCE ON CERTAIN PROPERTIES MORTGAGED BY CEFCU. PART X, LINE 2: THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES, AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO CEFCU'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON CEFCU'S CONSOLIDATED FINANCIAL POSITION OR RESULTS OF OPERATIONS. CEFCU EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2022 AND 2021. CEFCU'S 2018 THROUGH 2021 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CONSOLIDATED SUBSIDIARY REVENUES 464,727. RENTAL EXPENSE 1,962. ROUNDING -1. PART XII, LINE 2D - OTHER ADJUSTMENTS: CONSOLIDATED SUBSIDIARY REVENUES 464,727. RENTAL EXPENSE 1,962. ROUNDING -1. X X 1 1 X X X 0 1 0 MATTHEW J MAMER PRESIDENT-TREASURER 497915 0 109442 0 27992 0 68946 0 5493 0 709788 0 0 0 KEVIN D SCHNEIDER CHIEF LEGAL COUNSEL 304606 0 43544 0 0 0 63225 0 3777 0 415152 0 0 0 TIMOTHY I DUNTON CHIEF DELIVERY OFFICER 291158 0 42434 0 0 0 59335 0 12478 0 405405 0 0 0 MARK A HOFFMIRE CHIEF OPERATIONS OFFICER 257570 0 31680 0 27000 0 65306 0 4874 0 386430 0 0 0 ALYCIA D HIGHTOWER CHIEF PEOPLE OFFICER 200286 0 23037 0 27000 0 35166 0 3529 0 289018 0 0 0 WYATT S WOLVEN CHIEF FINANCIAL OFFICER 224189 0 31554 0 2265 0 23197 0 4932 0 286137 0 0 0 PETER DIAZ CA COMMUNITY PRESIDENT 202714 0 30929 0 13189 0 29249 0 9321 0 285402 0 0 0 TODD R HALLER VICE PRESIDENT 202286 0 24668 0 12173 0 42495 0 0 0 281622 0 0 0 THERESA A LAKE VICE PRESIDENT 180938 0 23504 0 20500 0 45431 0 1289 0 271662 0 0 0 DENISE GHERE SENIOR VICE PRESIDENT 188002 0 27704 0 1899 0 31417 0 6019 0 255041 0 0 0 RONALD ROUTH VICE PRESIDENT 129783 0 18228 0 27000 0 52702 0 9022 0 236735 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS A NOT-FOR-PROFIT FINANCIAL COOPERATIVE ESTABLISHED TO PROVIDE FINANCIAL SERVICES TO MEMBER/OWNERS. THE MEMBER/OWNERS ARE TIED TO THE CREDIT UNION BY A COMMON BOND (EMPLOYER, FAMILIES, GEOGRAPHIC REGION, INDUSTRY, OR SIMILAR AFFILIATION). FORM 990, PART VI, SECTION A, LINE 7A AN ANNUAL MEETING OF THE MEMBERS IS HELD FOR TRANSACTING OF CERTAIN BUSINESS, INCLUDING THE ELECTION OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE ORGANIZATION'S SUPERVISORY COMMITTEE, BY A MAJORITY VOTE, MAY, AFTER WRITTEN NOTICE OF ITS INTENDED ACTION IS FIRST GIVEN TO THE BOARD OF DIRECTORS, CALL A SPECIAL MEETING OF THE MEMBERS TO CONSIDER ANY VIOLATION OF THE ILLINOIS CREDIT UNION ACT, THE ORGANIZATION'S ARTICLES OF INCORPORATION OR BYLAWS, OR ANY PRACTICE OF THE ORGANIZATION DEEMED BY THE SUPERVISORY COMMITTEE TO BE UNSAFE OR UNAUTHORIZED. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO THE FILING OF FORM 990 AND ACCOMPANYING SCHEDULES AS PREPARED BY ITS STAFF, THE ORGANIZATION'S CHIEF FINANCIAL OFFICER AND ITS VICE PRESIDENT OF ACCOUNTING ARE EACH PROVIDED COPIES FOR REVIEW. THEIR REVIEW CONSISTS OF, BUT IS NOT LIMITED TO, COMPARING FIGURES REPORTED TO SUPPORTING DOCUMENTATION AS WELL AS A SERIES OF QUESTION AND ANSWER SESSIONS WITH PERTINENT STAFF. ALSO PRIOR TO FILING, THE FORMS ARE INSPECTED BY THE ORGANIZATION'S PUBLIC ACCOUNTING FIRM. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CODE OF ETHICS POLICY INCLUDES ITS POSITION ON CONFLICTS OF INTEREST. THE CODE OF ETHICS POLICY IS REQUIRED TO BE SIGNED BY EACH EMPLOYEE DURING THE NEW EMPLOYEE ORIENTATION AND ANNUALLY THEREAFTER. THIS POLICY REQUIRES EMPLOYEES TO DOCUMENT IN WRITING ANY POTENTIAL CONFLICT OF INTEREST. THE ORGANIZATION'S VICE PRESIDENT OF INTERNAL AUDIT MAINTAINS THE RESPECTIVE WRITTEN DISCLOSURES AND IS RESPONSIBLE FOR THE ONGOING MONITORING AND ENFORCEMENT OF THIS PROCESS. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION ENGAGES A COMPENSATION CONSULTANT TO REVIEW ALL JOBS WITHIN THE ORGANIZATION. THE PROCESS IS DONE ON A STAGGERED BASIS WITH SENIOR MANAGEMENT, MANAGEMENT, AND WEEKLY POSITIONS REVIEWED EVERY 3-5 YEARS. IF A QUESTION ARISES REGARDING A PARTICULAR POSITION, THE CONSULTANT PROVIDES INDUSTRY AND REGIONAL INFORMATION REGARDING SUCH POSITIONS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE ORGANIZATION'S CHIEF FINANCIAL OFFICER WILL PROVIDE SUCH DOCUMENTS FOR PUBLIC INSPECTION AT ITS CORPORATE HEADQUARTERS LOCATED AT 5401 W. DIRKSEN PKWY, PEORIA, IL 61607. FORM 990, PART XI, LINE 9: PENSION RELATED CHANGES OTHER THAN NET PERIODIC PENSION COSTS 60,489,408. FORM 990, PART XII, LINE 2C THERE HAS BEEN NO CHANGE IN THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDITED FINANCIAL STATEMENTS FOR THE CONSOLIDATED ENTITY. OVERSIGHT IS PERFORMED BY THE SUPERVISORY COMMITTEE. CEFCU FINANCIAL SERVICES INC 5401 DIRKSEN PARKWAY PEORIA IL 61607 371172505 INSURANCE IL N/A C 750180 5241194 1.00000 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 1 0 CEFCU FINANCIAL SERVICES INC A 1962 ACTUAL CEFCU FINANCIAL SERVICES INC O 146292 ACTUAL CEFCU FINANCIAL SERVICES INC Q 146292 ACTUAL