2023-03-24T09:59:37-05:00 2022-12-31 363321958 Desmond & Ahern Ltd 10827 S Western Avenue Chicago IL 60643 990 2022-01-01 362334042 Illinois Valley Credit Union ILLI 8152242667 1311 Shooting Park Road Peru IL 61354 Thomas J Kist President 8152242667 2023-03-24 1 Thomas Kist 999009999 0 Jason L Gierhahn P02385275 7737794720 2023-03-24 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z Thomas J Kist 1311 Shooting Park Road Peru IL 61354 1872703 0 X ivcu.com X Cooperative 1955 IL Illinois state chartered credit union operated for the mutual benefit of its members 7 7 14 7 7113 0 0 0 1815423 1839964 5786 19739 13000 13000 1834209 1872703 0 0 0 0 519602 547030 0 0 0 1064556 1142065 1584158 1689095 250051 183608 35316623 38076733 31587987 34164489 3728636 3912244 Illinois state chartered credit union operated for the mutual benefit of its over 3,400 members. The credit union makes loans to members and pays dividends to members with share deposits at a competitive rate of interest. 0 0 The credit union makes and services consumer loans and real estate loans to members. The number of loans outstanding at 12/31/22 was 2,094 for a total of $34,590,518. The Credit Union pays out dividends to its members' share deposit accounts at a market rate of interest. The number of share accounts at 12/31/22 was 4,356 for a total of $32,310,543. 0 0 0 0 0 0 0 0 0 1 0 0 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 1 729 0 1 14 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 0 1 0 0 0 X Lori Siensa 8152242667 1311 Shooting Park Road Peru IL 61354 Linda Bertrand-Burt Chairperson 0.50 X X 0 0 0 Polly Ragazincky Vice Chairperson 0.50 X X 0 0 0 Steve Piano Secretary 0.50 X X 0 0 0 Chris Romagnoli Director 0.50 X 0 0 0 Debbie Feeney Director 0.50 X 0 0 0 David Buckley Director 0.50 X 0 0 0 Tom Kist President 40.00 X X 117440 0 23154 Jennifer Bunker Skerston Director 0.50 X 0 0 0 117440 0 23154 1 0 0 0 0 Interest-member loans 522100 1384340 1384340 Service fees 522100 238552 238552 Transaction fees 522100 217072 209959 7113 1839964 19739 19739 13000 0 13000 13000 13000 1872703 1852590 7113 13000 140594 181507 28556 173055 23318 24000 358 76900 48512 75010 250531 75808 8813 5550 81829 33832 Loan Servicing 184377 Miscellaneous operating 162816 Dividends on share bala 84339 Provision for loan loss 16086 13304 1689095 793760 855045 729144 363373 27873810 34424393 296925 417084 2062825 649583 1452552 1413242 3812685 206867 289541 315180 68206 81549 35316623 38076733 69946 1853946 31518041 32310543 31587987 34164489 X 0 0 0 0 3728636 3912244 3728636 3912244 35316623 38076733 183608 0 X 0 0 0 185460 185460 1553496 452240 1101256 73288 17504 55784 250581 179839 70742 1413242 Member deposits 32310543 32310543 Form 990, Page 1, #5-Number of Employees The Credit Union uses Insperity HR Services for payroll and benefits. Insperity issued 14 2022-W-2s and filed all payroll tax returns for the Credit Union. Form 990, Page 3, #12-Audited Financial Statements The Credit Union's statement of financial condition and the related statements of income, members' equity, and cash flows were audited for the year ended September 30, 2022 in accordance with audit standards generally accepted in the United States. The FIN 48 Note in the 9/30/22 audited financial statements is as follows: Illinois Valley Credit Union was granted an exemption from federal income taxes by the Internal Revenue Service pursuant to the provisions of Internal Revenue Code Section 501(c)(14). The taxexempt purpose of the Credit Union and the nature in which it operates is described in the first paragraph of Note 1. Management believes the Credit Union continues to operate in compliance with its tax-exempt purpose. The Credit Union had no unrelated business income that management believes is subject to taxation. The Credit Union's annual information returns filed with the Internal Revenue Service are open to examination generally for three years after filing. Form 990, Part VI, Section A, line 6 The Organization's membership consists of individuals with funds on deposit with the credit union. Form 990, Part VI, Section A, line 7a The membership participates in the annual election of the Board of Directors at the annual membership meeting. Form 990, Part VI, Section A, line 7b Member approval is required for a merger with another credit union. Form 990, Part VI, Section B, line 11b The Form 990 and related schedule were reviewed by the President of the Credit Union prior to filing. Form 990, Part VI, Section B, line 12c Potential conflicts are discussed at monthly Board of Director meetings. Form 990, Part VI, Section C, line 19 Financial statements are posted monthly in both offices and additional items are available to members and others upon request.