2023-05-12T16:09:12-05:00 2022-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2022-01-01 410191495 CITY & COUNTY CREDIT UNION CITY 6512252700 144 11TH ST E SAINT PAUL MN 55101 PATRICK PIERCE PRESIDENT 6512252700 2023-05-04 1 PATRICK PIERCE 999009999 0 TANYA MEDGAARDEN P01717240 5074347000 2023-04-26 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z PATRICK PIERCE 144 11TH ST E SAINT PAUL MN 55101 39712617 0 X WWW.CCCU.COM X CU 1928 MN TO PROVIDE AFFORDABLE FINANCIAL SERVICES 8 8 0 0 64314 468 0 0 36462796 31627446 4712900 8044658 0 0 41175696 39672104 0 0 2729427 3122169 14191859 13697772 0 0 0 15075392 17494065 31996678 34314006 9179018 5358098 1170197946 1208523580 1056035261 1136227605 114162685 72295975 TO CONDUCT THE ORDINARY AND NECESSARY BUSINESS OF A CREDIT UNION INVOLVING THE RECEIVING OF SAVINGS OF MEMBERS AND LENDING MONEY TO MEMBERS FOR PROVIDENT PURPOSES. 0 0 THE CREDIT UNION PROVIDED LOANS OF $228 MILLION TO 12,569 MEMBERS. THE CREDIT UNION PROVIDES DEPOSIT ACCOUNTS TO APPROXIMATELY 62,200 MEMBERS. THE CREDIT UNION PAID INTEREST AND DIVIDENDS OF $3.1M ON THESE ACCOUNTS. THE CREDIT UNION PROVIDED LOW COST CHECKING AND RELATED SERVICES TO APPROXIMATELY 40,600 MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 17540 0 1 0 1 1 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X MELISSA SETTEM 6512252709 144 EAST 11TH STREET SAINT PAUL MN 55101 HEIDI WOLF BOARD MEMBER 1.00 X 2338 0 0 JOE MATTHEWS BOARD MEMBER 1.00 X 2324 0 0 LOU BRUNO BOARD MEMBER 1.00 X 1519 0 0 NICOLE BATES BOARD MEMBER 1.00 X 1449 0 0 SHANNON CUNNINGHAM BOARD MEMBER 1.00 X 1172 0 0 HANS MOLENAAR BOARD MEMBER 1.00 X 871 0 0 AXEL HENRY BOARD MEMBER 0.50 X 779 0 0 HEIDI HOLSTE BOARD MEMBER (PART-YEAR) 0.50 X 697 0 0 CHAD KERLIN BOARD MEMBER 0.50 X 586 0 0 LISA HAYES BOARD MEMBER (PART-YEAR) 0.50 X 576 0 0 PATRICK PIERCE PRESIDENT 40.00 X 690034 0 120580 ERIC MELLENTHIN VP INFORMATION TECHNOLOGY 40.00 X 305925 0 46007 MARC KILGORE SVP INFORMATION TECHNOLOGY 40.00 X 270665 0 50552 MELISSA SETTEM VP ACCOUNTING & FINANCE 40.00 X 261245 0 51503 THOMAS COULTER EVP OPERATIONS 40.00 X 231469 0 47246 CHARLES BARNES VP ELECTRONIC SERVICES (PART-YEAR) 40.00 X 204714 0 10795 STEVEN GALARNEAU VP INVESTMENTS 40.00 X 177461 0 10358 BAILEY GERMAIN VP MARKETING 40.00 X 141221 0 11801 MARDELL LUTGEN VP MEMBER EXPERIENCE 40.00 X 139335 0 11885 ROBIN DOWNING VP HUMAN RESOURCES 40.00 X 149652 0 1159 DANIELLE KONRAD-ARTHUR VP COMPLIANCE & RISK 40.00 X 133117 0 9858 DAVID OLSON DIRECTOR OF NETWORKING & S 40.00 X 279854 0 19244 MICHELLE PENNYCOOK DIRECTOR OF HUMAN RESOURCES 40.00 X 146690 0 20434 TIMOTHY TREMBLEY MORTGAGE SALES MANAGER 40.00 X 143362 0 11255 CHRISTINA HAGEN MORTGAGE LOAN OFFICER 40.00 X 147042 0 294 JOSEPH NEWMASTER INFRASTRUCTURE MANAGER 40.00 X 136632 0 1170 3570729 0 424141 14 0 1 0 R2I HOLDINGS LLC 509 S EXETER ST 300 BALTIMORE MD 21202 MARKETING 821515 CONNECT FINANCIAL LLC 64 EAST 6400 SOUTH MURRAY UT 84107 SOFTWARE DEVELOPMENT 427761 CLEAN CUT OUTDOOR SERVICES 2330 LEIBEL ST SUITE 105 WHITE BEAR TOWNSHIP MN 55110 SNOW REMOVAL AND LAWN CARE 173310 3 INTEREST ON LOANS 522100 24485359 24485359 OTHER FEES 524298 4373258 4346033 27225 CHECKING/ATM FEES 522100 2768829 2731740 37089 31627446 8058783 8058783 26388 0 40513 26388 -40513 -14125 -14125 39672104 31563132 64314 8044658 3122169 3088893 7422123 959030 1462314 765412 64884 148454 3326596 2005075 270450 588641 1727607 PROFESSIONAL AND OUTSID 4348723 EDUCATIONAL AND PROMOTI 2145624 LOAN SERVICING EXPENSE 1932957 LOAN LOSS PROVISION 495814 439240 34314006 7060364 8210275 133658868 77096171 4587348 2363920 553229532 667858051 1939425 2333016 47509381 27838757 20052475 19670624 379681122 356805707 27112295 28847410 42876517 45338406 1170197946 1208523580 11412158 12666866 54010000 1044623103 1069550739 1056035261 1136227605 X 0 0 0 0 114162685 72295975 114162685 72295975 1170197946 1208523580 X 5358098 -49041177 1816369 X X 0 1 X 1 0 5428621 5428621 18653849 7892260 10761589 23426911 19946497 3480414 19670624 MEMBER SHARES 1050876898 NONMEMBER DEPOSITS 18673841 1069550739 X 39712617 40513 40513 39672104 0 39672104 34354519 40513 40513 34314006 0 34314006 PART X, LINE 2: PART X: THE CREDIT UNION IS EXEMPT, UNDER IRC 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS, AND AMENDMENTS THEREOF BASED ON THE RECENT COURT CASES, FOR POTENTIAL TAXABLE ACTIVITIES, REMITTING, AND RECOGNIZING AS EXPENSE, FEDERAL AND STATE TAX AND RELATED ESTIMATE PAYMENTS, AS APPLICABLE. INCOME TAXES INCURRED, OR REFUNDS THEREOF, HAVE NOT BEEN MATERIAL TO DATE TO THE CREDIT UNION. 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 THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2022 AND 2021. THE CREDIT UNION'S 2018 AND SUBSEQUENT TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: ROUNDING LOSS ON SALE OF ASSETS 40,513. PART XII, LINE 2D - OTHER ADJUSTMENTS: ROUNDING LOSS ON SALE OF ASSETS 40,513. X X 0 1 0 PATRICK PIERCE PRESIDENT 568835 0 87921 0 33278 0 100000 0 20580 0 810614 0 0 0 ERIC MELLENTHIN VP INFORMATION TECHNOLOGY 240194 0 60982 0 4749 0 26667 0 19340 0 351932 0 0 0 MARC KILGORE SVP INFORMATION TECHNOLOGY 239534 0 30772 0 359 0 33333 0 17219 0 321217 0 0 0 MELISSA SETTEM VP ACCOUNTING & FINANCE 125054 0 133598 0 2593 0 32000 0 19503 0 312748 0 0 0 DAVID OLSON DIRECTOR OF NETWORKING & S 236323 0 38939 0 4592 0 0 0 19244 0 299098 0 0 0 THOMAS COULTER EVP OPERATIONS 200378 0 27067 0 4024 0 26667 0 20579 0 278715 0 0 0 CHARLES BARNES VP ELECTRONIC SERVICES (PART-YEAR) 112595 0 41213 0 50906 0 0 0 10795 0 215509 0 0 0 STEVEN GALARNEAU VP INVESTMENTS 154381 0 20202 0 2878 0 0 0 10358 0 187819 0 0 0 MICHELLE PENNYCOOK DIRECTOR OF HUMAN RESOURCES 112840 0 10572 0 23278 0 0 0 20434 0 167124 0 0 0 TIMOTHY TREMBLEY MORTGAGE SALES MANAGER 127104 0 14007 0 2251 0 0 0 11255 0 154617 0 0 0 BAILEY GERMAIN VP MARKETING 126698 0 13814 0 709 0 0 0 11801 0 153022 0 0 0 MARDELL LUTGEN VP MEMBER EXPERIENCE 123145 0 15962 0 228 0 0 0 11885 0 151220 0 0 0 ROBIN DOWNING VP HUMAN RESOURCES 132216 0 16382 0 1054 0 0 0 1159 0 150811 0 0 0 PART I, LINE 4B PATRICK PIERCE - PARTICIPATED IN NON-QUALIFIED PLAN THOMAS COULTER - PARTICIPATED IN NON-QUALIFIED PLAN MARC KILGORE - PARTICIPATED IN NON-QUALIFIED PLAN BAILEY GERMAIN - PARTICIPATED IN NON-QUALIFIED PLAN ERIC MELLENTHIN - PARTICIPATED IN NON-QUALIFIED PLAN MELISSA SETTEM - PARTICIPATED IN NON-QUALIFIED PLAN FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS COMPRISED OF A SINGLE CLASS OF APPROXIMATELY 62,200 MEMBER-OWNERS, EACH OF WHICH HAS EQUAL RIGHTS IN OWNERSHIP, GOVERNANCE AND VOTING RIGHTS AT THE ANNUAL MEETINGS, WITH THE EXCEPTION OF THE MEMBER-OWNERS WHO ARE ELECTED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBER-OWNERS OF THE CREDIT UNION HAVE THE AUTHORITY TO ELECT THE MEMBERS OF THE BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE FOR THREE-YEAR TERMS ON A ROTATING BASIS. CANDIDATES ARE ELECTED BY A SIMPLE PLURALITY VOTE. FORM 990, PART VI, SECTION A, LINE 7B ANY CHANGES TO THE ENTITY'S BYLAWS NEED TO BE APPROVED BY THE MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE VP ACCOUNTING & FINANCE ASSISTS IN PREPARATION THROUGH DATA GATHERING AND PERFORMS A REVIEW OF THE FORM 990 PRIOR TO FILING. THE REVIEW INCLUDES COMPARING REPORTED AMOUNTS TO UNDERLYING SCHEDULES AND OTHER SUPPORTING DOCUMENTS. FORM 990, PART VI, SECTION B, LINE 12C THERE IS A STATEMENT ON EVERY BOARD MEETING AGENDA REQUIRING BOARD MEMBERS TO DISCLOSE ANY CONFLICT OF INTEREST REGARDING THAT MONTH'S AGENDA ITEMS. BOARD MEMBERS WITH A CONFLICT WILL RECUSE THEMSELVES FROM VOTING ON OR PARTICIPATING IN THE DISCUSSION OF ITEMS IN QUESTION. FORM 990, PART VI, SECTION B, LINE 15 SALARY RANGES FOR EVERY POSITION ARE REVIEWED AND APPROVED BY THE BOARD EACH YEAR IN THE ANNUAL BUDGET. CCCU USES A THIRD PARTY, BALANCED COMP, TO ASSIST MANAGEMENT IN MONITORING INDUSTRY TRENDS AND RECOMMENDS CHANGES AS NEEDED. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2022 FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS ARE POSTED AT EACH LOCATION MONTHLY. FORM 990, PART XI, LINE 9: OTHER COMPREHENSIVE LOSS 1,816,367. EQUITY ACQUIRED IN MERGER ROUNDING 2. FORM 990, PART XII, LINE 2C AUDIT OVERSIGHT - THE SUPERVISORY COMMITTEE OVERSEES THE AUDIT AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT.