2023-11-13T15:51:34-06:00 2022-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2022-01-01 362523206 IH MISSISSIPPI VALLEY CREDIT UNION IHMI 3097936200 2500 RIVER DRIVE MOLINE IL 61265 DARLENE REED VP TREASURER 3097936200 2023-10-25 1 DARLENE REED 999009999 0 TANYA MEDGAARDEN P01717240 5074347000 2023-10-25 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ALLAN HOSACK 2500 RIVER DRIVE MOLINE IL 61265 254390734 0 X IHMVCU.ORG X 1934 IL PROVIDE CONSUMER, MORTGAGE, AND BUSINESS LOANS AND DEPOSIT SERVICES TO OVER 143,609 MEMBERS. 10 10 558 12 325743 131433 0 0 103876876 106364308 1930654 5567506 3046 -4218 105810576 111927596 141000 62500 8677810 11286758 35252640 37111480 0 0 0 34955812 44652328 79027262 93113066 26783314 18814530 1832277197 2035628610 1671822409 1871475711 160454788 164152899 PROVIDE CONSUMER, MORTGAGE, AND BUSINESS LOANS AND DEPOSIT SERVICES TO OVER 143,609 MEMBERS. 0 0 PROVIDE CONSIDERABLE CONSUMER, BUSINESS AND REAL ESTATE LOANS TO MEMBERS. PROVIDE DEPOSITORY ACCOUNTS TO APPROXIMATELY 143,609 MEMBERS. 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 37040 0 558 1 1 1 0 0 0 0 0 0 0 X 10 10 0 0 0 0 1 1 0 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X ALLAN HOSACK 3097936200 2500 RIVER DR MOLINE IL 61265 SAM KUPRESIN BOARD CHAIRMAN 2.00 X X 0 0 0 THOMAS TERRONEZ BOARD SECRETARY/TREASURER 2.00 X X 0 0 0 JEFF CARR DIRECTOR 2.00 X 0 0 0 MATT MENDANHALL DIRECTOR 2.00 X 0 0 0 THOMAS CHIP IRWIN DIRECTOR 2.00 X 0 0 0 MEGAN EARLY DIRECTOR 2.00 X 0 0 0 LARRY WIEMERS DIRECTOR 2.00 X 0 0 0 TIM CONSIDINE DIRECTOR 2.00 X 0 0 0 KRISTIN BERRY DIRECTOR 2.00 X 0 0 0 MELISSA PEPPER DIRECTOR 2.00 X 0 0 0 MATT JEFFERSON CHIEF DIGITAL OFFICER (PART-YEAR) 40.00 X 357051 0 23022 ALLAN HOSACK CHIEF FINANCIAL OFFICER 40.00 X 406307 0 39319 ANN MCMILLIAN CHIEF OPERATING OFFICER 40.00 X 410502 0 39319 JULIE STICKNEY CHIEF RESOURCE OFFICER 40.00 X 231256 0 30887 LISA OLSON CHIEF RISK MANAGEMENT OFFICER 40.00 X 403435 0 39319 BRIAN LAUFENBERG PRESIDENT / CEO 40.00 X 695448 0 39245 LINDSEY RAMOS SV,P MEMBER EXPERIENCE 40.00 X 228282 0 29229 ANDREW GROTHE SVP WEALTH MGMT AND INVESTMENT SERVICES 40.00 X 222500 0 30831 DANIELLE SONS SVP, FINANCE 40.00 X 208129 0 30457 AJAY SINGH SVP, LENDING 40.00 X 229312 0 26029 BENJAMIN ABBOTT SVP, PAYMENTS, TECHNOLOGY AND LENDING OPERATION 40.00 X 194531 0 29694 CURT JOURDAN SVP, TECHNOLOGY AND DATA STRATEGY 40.00 X 189960 0 24354 MAYRA DE CATALAN VP ANALYTICS (PART-YEAR) 40.00 X 182042 0 8760 CHAD ERVIN VP COMMERCIAL LENDING DEPT 40.00 X 199505 0 27971 JAMES LEGARE VP COMMERICAL & MORTGAGE CREDIT (PART-YEAR) 40.00 X 235660 0 11587 ROBERT ROSEMAN VP INDIRECT BUSINESS DEVELOPMENT 40.00 X 370363 0 28008 RICH DUSSLIERE VP INFORMATION SECURITY 40.00 X 191390 0 29207 KEVIN DUNCALF VP OF BUSINESS DEVELOPMENT 40.00 X 203554 0 13835 LAURA BURKHOLDER VP OF CREDIT RISK (PART-YEAR) 40.00 X 154867 0 0 CURTIS JOHNSTON VP OF MORTGAGE 40.00 X 168305 0 27624 RON GAUVIN VP OF STRATEGIC INITIATIVES 40.00 X 188758 0 19475 AMY BYTNAR VP PMO 40.00 X 189567 0 13129 KRISTEN DOONAN VP RISK MANAGEMENT 40.00 X 156687 0 10909 DARLENE REED VP TREASURER 40.00 X 162935 0 31889 ROBERT BLAZEJEWSKI FINANCIAL CONSULTANT 40.00 X 242010 0 30922 STEPHEN TRACY MANAGER, APPLICATION DEVELOPMENT (TERMED 01/03/202 40.00 X 160918 0 16594 CHAD MANSFIELD MORTGAGE LOAN ORIGINATOR 40.00 X 188690 0 29406 JAMES GARMAN MORTGAGE LOAN ORIGINATOR (PART-YEAR) 40.00 X 358948 0 32556 JUSTIN JOHNSON VP COMMERCIAL LENDER 40.00 X 170900 0 26704 7301812 0 740281 29 0 1 0 ESTES COMPANY LLC DBA ESTES CONSTRUCTION 131 W 2ND STREET SUITE 400 DAVENPORT IA 52801 CONSTRUCTION 1094681 CU ALLIANCE 9601 JONES ROAD SUITE 108 HOUSTON TX 77065 LOAN SERVICES 609134 AVTEX SOLUTIONS LLC 3500 AMERICAN BLVD WEST SUITE 300 BLOOMINGTON MN 55431 DATA MANAGEMENT 334329 JOSEPH M PHEIFER 128 9TH STREET HAMPTON IL 61256 INVESTMENT SERVICES 228985 MEDIACOM IOWA LLC 1 MEDIACOM WAY MEDIACOM PARK NY 10918 INTERNET 185316 15 INTEREST ON LOANS 522100 74268653 74268653 FEE INCOME 522100 31488252 31488252 INSURANCE COMMISSIONS 524298 677981 634335 43646 ATM SURCHARGE FEES 522100 222515 222515 WARRANTY FEES 522100 62000 62000 -355093 -356893 1800 106364308 3408029 3408029 141917 144480698 63579 142399559 78338 2081139 2159477 2159477 K-1 INCOME - MEMBERS DEVELOPMENT 522100 -4218 -4218 -4218 111927596 108193824 325743 3408029 32500 30000 11286758 6784445 23130477 1620505 3263740 2312313 271465 247333 1376726 1559063 10655315 2819114 660826 3081298 3367205 PROVISION FOR LOAN LOSS 7421023 VISA CARD EXPENSES 6725277 PROGRAM/SERVICES EXPENS 3685789 INDIRECT LOAN SALES EXP 800388 1981506 93113066 87335019 112121654 692135 922558 19053961 18337942 1474922515 1667617011 6513350 5693364 74666892 20094382 53564390 54572510 145887151 126670639 21216233 25328018 2018467 1923867 21073976 22441047 1832277197 2035628610 17129754 22602310 48551833 167451150 1606140822 1681422251 1671822409 1871475711 X 0 0 0 0 160454788 164152899 160454788 164152899 1832277197 2035628610 18814530 -15116419 0 X X 0 1 X 1 0 15000 15000 15000 1 CREDIT UNION PAC 1807 W DIEHL ROAD PO BOX 3107 NAPERVILLE IL 605667107 361255150 15000 PART I-A, LINE 1: CONTRIBUTED FUNDS TO THE CREDIT UNION POLITICAL ACTION COMMITTEE (CUPAC) 11827588 11827588 44318870 11892190 32426680 16278514 8202192 8076322 2241920 2241920 54572510 MEMBER SHARES AND CERTIFICATES 1676831193 OUTSTANDING CHECKS 4591058 1681422251 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER INTERNAL REVENUE CODE 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE. 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 CONSOLIDATED 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 2019 THROUGH 2021 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. THE INCOME FROM THE CUSO, ORGANIZED AS AN LLC, FLOWS THROUGH TO THE CREDIT UNION, AND THEREFORE, IS NOT SUBJECT TO FEDERAL AND STATE INCOME TAXES OTHER THAN UNRELATED BUSINESS INCOME TAX. 1 LIVING LANDS & WATERS RESTORATION ORGANIZATION 17624 ROUTE 84 N EAST MOLINE IL 61244 364244353 501(C)(3) 10000 0 CORPORATE DONATION RIVER BEND FOODBANK 4010 KIMMEL DRIVE DAVENPORT IA 52801 363147342 501(C)(3) 15000 0 CORPORATE DONATION NATIONAL CREDIT UNION FOUNDATION 4703 MADISON YARDS WAY STE 300 MADISON WI 53705 391383650 501(C)(3) 7500 0 CORPORATE DONATION 3 STUDENT SCHOLARSHIPS 13 30000 2022 CLASS SCHOLARSHIPS PART I, LINE 2: ALL STUDENT SCHOLARSHIPS ARE PAID DIRECTLY TO THE SCHOOL OF THE STUDENT'S CHOICE. X X 1 1 X X X 1 1 0 BRIAN LAUFENBERG PRESIDENT / CEO 526515 0 168933 0 0 0 21350 0 17895 0 734693 0 0 0 ANN MCMILLIAN CHIEF OPERATING OFFICER 314509 0 95993 0 0 0 21350 0 17969 0 449821 0 0 0 ALLAN HOSACK CHIEF FINANCIAL OFFICER 314058 0 92249 0 0 0 21350 0 17969 0 445626 0 0 0 LISA OLSON CHIEF RISK MANAGEMENT OFFICER 314030 0 89405 0 0 0 21350 0 17969 0 442754 0 0 0 ROBERT ROSEMAN VP INDIRECT BUSINESS DEVELOPMENT 147232 0 223131 0 0 0 10306 0 17702 0 398371 0 0 0 JAMES GARMAN MORTGAGE LOAN ORIGINATOR (PART-YEAR) 37592 0 321356 0 0 0 16599 0 15957 0 391504 0 0 0 MATT JEFFERSON CHIEF DIGITAL OFFICER (PART-YEAR) 174855 0 82196 0 100000 0 12240 0 10782 0 380073 0 0 0 ROBERT BLAZEJEWSKI FINANCIAL CONSULTANT 60008 0 182002 0 0 0 15651 0 15271 0 272932 0 0 0 JULIE STICKNEY CHIEF RESOURCE OFFICER 192627 0 38629 0 0 0 13484 0 17403 0 262143 0 0 0 LINDSEY RAMOS SV,P MEMBER EXPERIENCE 194934 0 33348 0 0 0 11658 0 17571 0 257511 0 0 0 AJAY SINGH SVP, LENDING 229231 0 81 0 0 0 8171 0 17858 0 255341 0 0 0 ANDREW GROTHE SVP WEALTH MGMT AND INVESTMENT SERVI 186895 0 35605 0 0 0 13083 0 17748 0 253331 0 0 0 JAMES LEGARE VP COMMERICAL & MORTGAGE CREDIT (PAR 142400 0 34060 0 59200 0 9968 0 1619 0 247247 0 0 0 DANIELLE SONS SVP, FINANCE 182308 0 25821 0 0 0 12762 0 17695 0 238586 0 0 0 CHAD ERVIN VP COMMERCIAL LENDING DEPT 162878 0 36627 0 0 0 10148 0 17823 0 227476 0 0 0 BENJAMIN ABBOTT SVP, PAYMENTS, TECHNOLOGY AND LENDIN 172385 0 22146 0 0 0 12067 0 17627 0 224225 0 0 0 RICH DUSSLIERE VP INFORMATION SECURITY 166277 0 25113 0 0 0 11639 0 17568 0 220597 0 0 0 CHAD MANSFIELD MORTGAGE LOAN ORIGINATOR 30000 0 158690 0 0 0 13108 0 16298 0 218096 0 0 0 KEVIN DUNCALF VP OF BUSINESS DEVELOPMENT 175145 0 28409 0 0 0 12260 0 1575 0 217389 0 0 0 CURT JOURDAN SVP, TECHNOLOGY AND DATA STRATEGY 166764 0 23196 0 0 0 11673 0 12681 0 214314 0 0 0 RON GAUVIN VP OF STRATEGIC INITIATIVES 163979 0 24779 0 0 0 11479 0 7996 0 208233 0 0 0 AMY BYTNAR VP PMO 165378 0 24189 0 0 0 11576 0 1553 0 202696 0 0 0 JUSTIN JOHNSON VP COMMERCIAL LENDER 136327 0 34573 0 0 0 9543 0 17161 0 197604 0 0 0 CURTIS JOHNSTON VP OF MORTGAGE 142395 0 25910 0 0 0 9968 0 17656 0 195929 0 0 0 DARLENE REED VP TREASURER 141770 0 21165 0 0 0 9924 0 21965 0 194824 0 0 0 MAYRA DE CATALAN VP ANALYTICS (PART-YEAR) 145154 0 36888 0 0 0 7160 0 1600 0 190802 0 0 0 STEPHEN TRACY MANAGER, APPLICATION DEVELOPMENT (TE 137897 0 23021 0 0 0 9653 0 6941 0 177512 0 0 0 KRISTEN DOONAN VP RISK MANAGEMENT 136866 0 19821 0 0 0 9580 0 1329 0 167596 0 0 0 LAURA BURKHOLDER VP OF CREDIT RISK (PART-YEAR) 112623 0 19994 0 22250 0 0 0 0 0 154867 0 0 0 PART I, LINES 4A-B 457(F) DEFERRED COMPENSATION PLAN BRIAN LAUFENBERG PRESIDENT/CEO SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 X 10971600 11702815 0 1 1 ANN MCMILLIAN CHIEF OPERATING OFFICER SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 X 1685331 1966855 0 1 1 LISA OLSON CHIEF RISK MANAGEMENT OFFICER SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 X 1003363 1171461 0 1 1 MATT JEFFERSON CHIEF DIGITAL OFFICER SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 X 1441201 966633 0 1 1 ALLAN HOSACK CHIEF FINANCIAL OFFICER SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 X 2277784 2530178 0 1 1 18337942 FORM 990, PART VI, SECTION A, LINE 6 THERE IS A SINGLE CLASS OF MEMBERS. MEMBERS ARE REQUIRED TO MAINTAIN A $5 SHARE ACCOUNT. FORM 990, PART VI, SECTION A, LINE 7A VOTING IS BASED ON A ONE MEMBER, ONE VOTE BASIS. PROXIES ARE IN PLACE FOR BOARD TO VOTE SHARES. FORM 990, PART VI, SECTION B, LINE 11B THE RETURN PREPARER PROVIDED A COPY OF THE FINAL VERSION OF FORM 990 TO THE CHIEF FINANCIAL OFFICER BEFORE IT WAS FILED. THE CFO, ALLAN HOSACK, REVIEWED THE FORM 990 BEFORE IT WAS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY BY THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE PRESIDENT'S COMPENSATION BASED UPON COMPARATIVE MARKET RESEARCH AND SALARY INFORMATION. THE COMPENSATION OF THE OTHER HIGH LEVEL OFFICERS AND KEY EMPLOYEES IS BASED UPON COMPENSATION SURVEYS. AN OUTSIDE CONSULTING FIRM IS THEN USED TO REVIEW THE SALARIES FOR APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE PROVIDED UPON REQUEST. FORM 990, PART XII, LINE 2C THE OVERSIGHT AND SELECTION PROCESS FOR THE INDEPENDENT ACCOUNTANT WHO AUDITS THE ORGANIZATION'S FINANCIAL STATEMENTS HAS NOT CHANGED SINCE THE PRIOR YEAR. FORM 990, PART I, LINE 6 THERE WERE 10 VOLUNTEER BOARD MEMBERS AND 2 ADDITIONAL VOLUNTEERS ON THE SUPERVISORY COMMITTEE FOR A TOTAL OF 12 VOLUNTEERS. MEMBERS FINANCIAL LLC 2500 RIVER DRIVE MOLINE IL 61265 320091317 HOLDING COMPANY IL 1800 3108963 MEMBERS PROPERTY MANAGEMENT LLC 2500 RIVER DRIVE MOLINE IL 61265 260224070 PROPERTY MANAGEMENT IL 168308 2668664 MEMBERS FINANCIAL LLC MEMBERS INSURANCE SERVICES LLC 2500 RIVER DRIVE MOLINE IL 61265 320091314 INSURANCE IL 677981 345132 MEMBERS FINANCIAL LLC MEMBERS AUTO SOLUTIONS 2500 RIVER DRIVE MOLINE IL 61265 854085855 AUTO SOLUTIONS IL 9983 203167 MEMBERS FINANCIAL LLC