2024-11-13T20:43:00-06:00 2023-12-31 382492570 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2023-01-01 370732817 SCOTT CREDIT UNION SCOT 6183451000 101 CREDIT UNION WAY EDWARDSVILLE IL 62025 SCOTT PETERS CFO 6183451000 2024-11-12 0 JOHN J MURNANE JR P03021572 3052328272 2024-11-12 2023 2024-10-15 13:58:12Z FRANK M PADAK 101 CREDIT UNION WAY EDWARDSVILLE IL 62025 105927391 0 X WWW.SCU.ORG X 1943 IL TO SERVE MEMBERS' NEEDS BY ACCEPTING DEPOSITS, GRANTING LOANS AND INVESTING EXCESS FUNDS IN A PRUDENT MANNER. 9 8 445 8 354159 0 0 0 78334656 90955708 6684912 14971683 -680289 0 84339279 105927391 0 174344 0 0 28474261 29688920 0 0 0 47355240 66750993 75829501 96614257 8509778 9313134 1751826315 1741583732 1619939069 1597906829 131887246 143676903 TO SERVE MEMBERS' NEEDS BY ACCEPTING DEPOSITS, GRANTING LOANS AND INVESTING EXCESS FUNDS IN A PRUDENT MANNER. 0 0 SERVED MEMBERS' INTERESTS BY ACCEPTING DEPOSITS, GRANTING LOANS AND INVESTING EXCESS FUNDS IN A PRUDENT MANNER. 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 49537 0 1 445 1 1 1 0 0 0 0 0 0 0 X 9 8 0 0 0 0 1 1 1 1 1 0 0 0 1 0 0 1 1 1 0 0 X SCOTT PETERS 6183451000 101 CREDIT UNION WAY EDWARDSVILLE IL 62025 FRANK PADAK PRESIDENT AND CEO/BOARD TREASURER 40.00 X X 899188 0 90167 MICHELE GEHLBACH BOARD SECRETARY, BOARD MEMBER 3.00 X 0 0 0 CHRISTOPHER SOBRINO BOARD MEMBER, SUPERVISORY COMMITTEE CHAIRPERSON 3.00 X 0 0 0 DEBBIE LANE BOARD MEMBER, SUPERVISORY COMMITTEE CHAIRPERSON 3.00 X 0 0 0 JACOB CURTIS BOARD VICE CHAIRPERSON, BOARD MEMBER 3.00 X 0 0 0 JESSICA HAUGEN BOARD MEMBER 3.00 X 0 0 0 JOY HAYWARD BOARD MEMBER 3.00 X 0 0 0 LAJUAN MILLER BOARD MEMBER 3.00 X 0 0 0 LAWRENCE HAFFNER BOARD CHAIRPERSON, BOARD MEMBER 3.00 X 0 0 0 SCOTT SEIDL EXECUTIVE VICE PRESIDENT 40.00 X 396587 0 64184 SCOTT PETERS CHIEF FINANCIAL OFFICER 40.00 X 272734 0 76329 DAVID BRESSLER CHIEF LENDING OFFICER 40.00 X 266543 0 58914 CARLA LAMBRECHT CHIEF INFORMATION OFFICER 40.00 X 263980 0 27921 VAL RHODEN-KIMBROUGH CHIEF HUMAN RESOURCES OFFICER 40.00 X 252574 0 57797 JOANNA HERNANDEZ CHIEF OPERATING OFFICER 40.00 X 242206 0 55481 MICHELLE WAZLAWEK CHIEF MARKETING OFFICER 40.00 X 225929 0 14520 TRICIA NEWTON MORTGAGE LOAN ORIGINATOR 40.00 X 179384 0 9908 JEFFREY RODERICK VICE PRESIDENT OF INFORMATION TECHNOLOGY 40.00 X 177166 0 50831 DEANNA O'NEILL VP OF HUMAN RESOURCES 40.00 X 169778 0 49845 MARK DIETRICH VICE PRESIDENT OF RETAIL OPERATIONS 40.00 X 158068 0 49001 MANDY MAYER VICE PRESIDENT OF MORTGAGE LENDING 40.00 X 148285 0 46909 3652422 0 651807 31 0 1 0 FIS (AKA FIDELITY NATIONAL CARD SERVICES 11601 ROOSEVELT BLVD TA94 ST PETERSBURG FL 33716 DEBIT AND CREDIT CARD PROCESSING 4816551 JACK HENRY & ASSOCIATES INC 663 W HIGHWAY 60 MONETT MO 65708 CORE SYSTEM 1510500 VISA USA INC PO BOX 742233 LOS ANGELES CA 90074 DEBIT AND CREDIT CARD NETWORK 1429176 ARKATECHTURE INC 75 WASHINGTON AVE SUITE 2F PORTLAND ME 04112 DATA WAREHOUSE SERVICES 923104 COMPUTERSHARE INC 250 ROYALL STREET CANTON MA 02021 STATEMENT PROCESSING 861527 59 INTEREST ON LOANS 522100 67546935 67546935 FEES, CHARGES, OTHER 522100 23054614 23054614 FINANCE AND INSURANCE 520000 354159 354159 90955708 14971683 14971683 105927391 105573232 354159 0 X 174344 3265054 19153308 986482 4560566 1723510 137860 303383 3369597 2355880 4890440 1784511 2530500 96571 368029 22408208 2825978 458147 PROVISION FOR LOAN LOSS 14029702 LOAN SERVICING 4332503 DEBIT CARD EXPENSE 3594475 ATM EXPENSES 1529499 1735710 96614257 19002277 17028620 68256946 157010652 22118129 19071966 18842405 28214521 1346463177 1252729482 2772756 3305556 72676249 38734877 34725893 33941372 186764201 171517898 2751200 10276619 10768336 10474514 39360995 38012532 1751826315 1741583732 27325283 28411897 35000000 25000000 1557613786 1544494932 1619939069 1597906829 X 0 0 0 0 131887246 143676903 131887246 143676903 1751826315 1741583732 X 9313134 4409340 -1932817 X X 0 1 X 1 0 17639 17639 17639 1 CUPAC 1807 WEST DIEHL ROAD NAPERVILLE IL 60566 363092340 17639 7886599 7886599 37251275 17034985 20216290 2278415 1432912 845503 23705116 18957212 4747904 1554844 1309768 245076 33941372 MEMBER DEPOSITS 1544494932 1544494932 X 105927391 0 105927391 0 105927391 96614257 0 96614257 0 96614257 PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY ON EXAMINATION BY TAX AUTHORITIES. MANAGEMENT HAS DETERMINED THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. 1 SCOTT CREDIT UNION COMMUNITY FOUNDATION 101 CREDIT UNION WAY EDWARDSVILLE IL 62025 823443031 501(C)(3) 102829 0 TO ASSIST THE FOUNDATION IN CARRYING OUT ITS EXEMPT FUNCTION. ILLINOIS CREDIT UNION FOUNDATION 1807 W DIEHL ROAD NAPERVILLE IL 60563 362994028 501(C)(3) 10000 0 CHARITABLE CONTRIBUTION 2 PART I, LINE 2: SCOTT CREDIT UNION COMMUNITY FOUNDATION IS SPONSORED BY SCOTT CREDIT UNION. MEMBERS OF THE CREDIT UNION'S EXECUTIVE MANAGEMENT TEAM COMPRISE THE MEMBERS OF THE FOUNDATION'S BOARD. THE FOUNDATION'S BOARD MEMBERS ASSIST IN GUIDING AND MONITORING THE USE OF THE FUNDS TO ENSURE THEY ARE DISBURSED IN A MANNER THAT IS CONSISTENT WITH THE FOUNDATION'S EXEMPT PURPOSE. THE CREDIT UNION'S DONATIONS TO OTHER TAX EXEMPT ORGANIZATIONS ARE NOT SUBSEQUENTLY MONITORED. X 0 1 0 FRANK PADAK PRESIDENT AND CEO/BOARD TREASURER 530103 0 190270 0 178815 0 45792 0 44375 0 989355 0 86633 0 SCOTT SEIDL EXECUTIVE VICE PRESIDENT 344461 0 50133 0 1993 0 23053 0 41131 0 460771 0 0 0 SCOTT PETERS CHIEF FINANCIAL OFFICER 248044 0 22556 0 2134 0 34256 0 42073 0 349063 0 0 0 DAVID BRESSLER CHIEF LENDING OFFICER 241596 0 24090 0 857 0 17779 0 41135 0 325457 0 0 0 VAL RHODEN-KIMBROUGH CHIEF HUMAN RESOURCES OFFICER 228294 0 23452 0 828 0 16679 0 41118 0 310371 0 0 0 JOANNA HERNANDEZ CHIEF OPERATING OFFICER 224105 0 17680 0 421 0 14532 0 40949 0 297687 0 0 0 CARLA LAMBRECHT CHIEF INFORMATION OFFICER 238645 0 24024 0 1311 0 16903 0 11018 0 291901 0 0 0 MICHELLE WAZLAWEK CHIEF MARKETING OFFICER 206367 0 19188 0 374 0 13892 0 628 0 240449 0 0 0 JEFFREY RODERICK VICE PRESIDENT OF INFORMATION TECHNO 175279 0 1550 0 337 0 9855 0 40976 0 227997 0 0 0 DEANNA O'NEILL VP OF HUMAN RESOURCES 153384 0 15537 0 857 0 9079 0 40766 0 219623 0 0 0 MARK DIETRICH VICE PRESIDENT OF RETAIL OPERATIONS 154538 0 3361 0 169 0 6958 0 42043 0 207069 0 0 0 MANDY MAYER VICE PRESIDENT OF MORTGAGE LENDING 134469 0 13728 0 88 0 6191 0 40718 0 195194 0 0 0 TRICIA NEWTON MORTGAGE LOAN ORIGINATOR 39000 0 140384 0 0 0 9731 0 177 0 189292 0 0 0 PART I, LINE 4B THE CREDIT UNION'S PRESIDENT AND CEO, FRAN PADAK PARTICIPATES IN A 457(F) PLAN. HE RECEIVED A BEENFIT PAYOUT IN THE AMOUNT OF $86,663 DURING 2023. THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO FRANK PADAK, SCOTT SEIDL, AND SCOTT PETERS AND OTHER FORMER OFFICERS OF THE CREDIT UNION THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." UNDER THE AGREEMENT, THE EXECUTIVE IS THE OWNER OF THE POLICY AND MAKES A COLLATERAL ASSIGNMENT TO THE CREDIT UNION IN RETURN FOR A LOAN. AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE UNDERLYING LIFE INSURANCE POLICY TO SUPPLEMENT RETIREMENT INCOME. THESE DRAWS ARE TAX FREE FOR THE PARTICIPANTS. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. SEE SCHEDULE L FOR THE COMPLETE LIST OF PARTICIPANTS. FRANK PADAK CEO TO FUND COLLATERAL ASSIGNED SPLIT DOLLAR PLAN X 13665696 14986968 0 1 1 SCOTT PETERS CFO TO FUND COLLATERAL ASSIGNED SPLIT DOLLAR PLAN X 3018698 4161301 0 1 1 SCOTT SEIDL EVP TO FUND COLLATERAL ASSIGNED SPLIT DOLLAR PLAN X 902206 932213 0 1 1 CHRISTOPHER BROWNER FORMER CFO TO FUND COLLATERAL ASSIGNED SPLIT DOLLAR PLAN X 1430080 1477643 0 1 1 ADAM KOISHER FORMER CHIEF MARKETING OFFICER TO FUND COLLATERAL ASSIGNED SPLIT DOLLAR PLAN X 1035821 1070272 0 1 1 ERIC HAM FORMER CIO TO FUND COLLATERAL ASSIGNED SPLIT DOLLAR PLAN X 1002330 1035667 0 1 1 GERALDINE BUREK FORMER CEO OF MERGED ENTITY, SOUTH DIVISION CREDIT UNION TO FUND COLLATERAL ASSIGNED SPLIT DOLLAR PLAN X 3760000 4550457 0 1 1 28214521 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A ALL VOTING ON THE ELECTION OF DIRECTORS SHALL BE BY BALLOT, EXCEPT WHEN THERE IS A NO CONTEST (WRITTEN BALLOTS NEED NOT BE CAST) ON ELECTION OF DIRECTORS, EVERY SHAREHOLDER HAS THE RIGHT TO VOTE THE NUMBER OF SHARES OWNED BY FOR AS MANY PERSONS AS THERE ARE DIRECTORS TO BE ELECTED. THEY MAY ALSO CUMULATE THEIR SHARES AND GIVE ONE CANDIDATE AS MANY VOTES AS THE NUMBER OF DIRECTORS MULTIPLIED BY THE NUMBER OF SHARES OWNED. MEMBERS THAT ARE NOT NATURAL PERSONS MAY CAST A VOTE THROUGH A DELEGATED AGENT. ALL ELECTIONS SHALL BE DETERMINED BY PLURALITY VOTE AND SHALL BE BY BALLOT EXCEPT WHERE THERE IS NO CONTEST. IN CASE OF FAILURE TO ELECT, THE MEETING MAY BE ADJOURNED FROM TIME TO TIME. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B THE CFO IS RESPONSIBLE FOR COMPLETION OF FORM 990 AND OUTSOURCES THE PREPARATION OF THE RETURN TO A CPA FIRM. A DRAFT VERSION OF THE RETURN IS REVIEWED BY THE CFO AND CEO. ONCE ALL HAVE COMPLETED THEIR REVIEW AND ANY NECESSARY CORRECTIONS ARE COMPLETED, THE RETURN IS FILED. FORM 990, PART VI, SECTION B, LINE 15A EXECUTIVE COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS, WHO ARE INDEPENDENT VOLUNTEERS. THEIR PROCESS INCLUDES A REVIEW OF COMPENSATION DATA FOR EXECUTIVE POSITIONS AT SIMILAR ENTITIES. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FINANCIAL STATEMENTS ARE MADE AVAILABLE ON THE NCUA'S WEBSITE VIA THE 5300 FILING. FORM 990, PART IX, LINE 11G PROFESSIONAL SERVICES- BANK SERVICES 85,681. PROFESSIONAL SERVICES- MOBILE/ONLINE BANKING 923,204. PROFESSIONAL SERVICES- PAYROLL PROCESSING 225,347. PROFESSIONAL SERVICES- RECRUITING 240,923. PROFESSIONAL SERVICES - BILLPAY 189,340. OTHER PROFESSIONAL SERVICES 1,705,102. FORM 990, PART IX, LINE 24E OTHER MISCELLANEOUS OPERATING 946,211. FRAUD LOSSES 468,920. COURTESY PAY LOSSES 320,579. FORM 990, PART XI, LINE 9: CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE -1,932,817. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. SCOTT CREDIT UNION COMMUNITY FOUNDATION 101 CREDIT UNION WAY EDWARDSVILLE IL 62025 823443031 CHARITABLE FOUNDATION IL 501(C)(3) LINE 7 SCOTT CREDIT UNION 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 SCOTT CREDIT UNION COMMUNITY FOUNDATION B 102829 ACTUAL