2026-04-29T14:47:03-07:00 2025-12-31 990 2025-01-01 237250155 BAXTER CREDIT UNION BAXT 8003887000 340 North Milwaukee Avenue Vernon Hills IL 60061 Chuck Smith SVP & Controller 8479328401 2026-05-15 2025 2025-03-06 01:10:19Z Mike Valentine 340 N Milwaukee Avenue Vernon Hills IL 60061 507368239 0 X bcu.org X Credit Union 1981 IL The organization is a full service, state-chartered credit union providing a broad range of loan and deposit products and other financial services to its members located throughout the US and Puerto Rico using various channels including branches, a call center, and the internet. 11 10 0 11 0 0 0 0 405250173 426818884 77515235 80549355 0 0 482765408 507368239 0 0 0 0 105947970 107817442 0 0 0 353704997 355271289 459652967 463088731 23112441 44279508 6018343455 6337833454 5473287755 5737514305 545055700 600319149 The organization is a full service, state-chartered credit union providing a broad range of loan and deposit products and other financial services to it members located throughout the US and Puerto Rico using various channels including branches, a call center, and the internet. 0 0 0 0 0 Provided 6,613 first mortgages for $2,192,766,876 0 0 0 Provided 232,647 member loans for $5,144,180,564 0 0 0 Offered loans, deposits, and other financial services to 368,252 members 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 1 0 X 11 10 0 0 0 0 1 1 1 1 1 0 1 1 0 1 0 1 1 1 1 1 0 CA X Chuck Smith 8479328401 340 North Milwaukee Avenue Vernon Hills IL 60061 Michael Valentine President, CEO and Treasurer 40 0 X 1995776 0 0 James Block EVP/Chief Operating Officer 40 0 X 948115 0 0 Carl Presto EVP/CFO 40 0 X 937823 0 0 David Blum EVP Corporate Relationships and US Service Centers 40 0 X 841731 0 0 Lisa Baron EVP/CHRO 40 0 X 785721 0 0 Edwin T Watson Wealth Advisor 40 0 X 569567 0 0 Scott Zulpo EVP/CIO 40 0 X 528026 0 0 John Anderson Investment Advisors 40 0 X 508116 0 0 David Brydun SVP/Chief Lending Officer 40 0 X 495295 0 0 Dan Parsons SVP US Service Centers 40 0 X 494917 0 0 Jill Sammons SVP/Marketing and Brand Strategy 40 0 X 493277 0 0 Kerriann Mills EVP/Chief Legal Officer 40 0 X 468989 0 0 Kristi Mertens Managing Director, Wealth Advisors 40 0 X 453519 0 0 Heather Wright Wealth Advisors 40 0 X 421485 0 0 Brian Farrissey Wealth Advisor 40 0 X 409433 0 0 Charles Smith SVP/Controller 40 0 X 405108 0 0 Bhavna Guglani SVP, Chief Digital Officer 40 0 X 402655 0 0 Stephenie Southard SVP/CISO 40 0 X 399683 0 0 Maria Garcia SVP/Member Operations 40 0 X 376230 0 0 Patty Mitchell VP of Compensation 40 0 X 352835 0 0 Brett Engel VP, Finance and Risk 40 0 X 342840 0 0 Joe McCarthy VP, Real Estate Lending 40 0 X 334506 0 0 Davi Allen VP, Consumer Lending 40 0 X 332277 0 0 Jordan Mueller VP, Program Delivery 40 0 X 321812 0 0 John Sahagian VP 40 0 X 319209 0 0 Dmitriy Melnick VP, Software Development 40 0 X 309602 0 0 Keith Parris VP, Contact Center Opts 40 0 X 290359 0 0 Harvey Rindt VP, Compliance 40 0 X 264853 0 0 Dan Cook VP, US Retail Branches 40 0 X 246312 0 0 Michael Curran Chairman 40 0 X 49500 0 0 Paul Martin Director 40 0 X 38500 0 0 Christine McCauley Director 40 0 X 38500 0 0 Christine Fleming Director and Secretary 40 0 X 38500 0 0 Ola Snow Director 40 0 X 33000 0 0 Brett Craig Director 40 0 X 33000 0 0 Al Nietzel Director 40 0 X 33000 0 0 Betty Larson Director 40 0 X 33000 0 0 David Strauss Director 40 0 X 33000 0 0 Bill Costa Director 40 0.00 X 33000 0 0 Robyn Wells Director 40 0 X 16500 0 0 15429571 0 0 237 0 1 0 0 0 Interest on Loans 522130 301550738 301550738 0 0 Interchange Income 522130 43777868 43777868 0 0 Other Mortgage Income 522130 13678801 13678801 0 0 Service Charges/Other Income 522130 36091668 36091668 0 0 Other Non-Interest Income 522130 31719809 31719809 0 0 0 0 0 0 426818884 80549355 80549355 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 507368239 507368239 0 0 87952941 4904701 8758634 6201166 268468 145276 5727956 5585250 7781107 22276852 3617221 1040726 71883808 12130878 589959 Loan Costs 38949639 Provision for Loan Losses 58475000 Dividends on member and non member shares 99079421 27719728 463088731 0 0 0 70783730 160397740 338399214 279265539 49301581 49579403 4912448773 5083271492 8550984 7782080 218411362 116989496 107940184 101421866 295429456 398736268 101563229 108620527 133926304 148758539 6018343455 6337833454 58303433 55803628 780000000 670000000 4634984322 5011710677 5473287755 5737514305 X 0 0 0 0 545055700 600319149 545055700 600319149 6018343455 6337833454 44279508 10983941 0 0 0 0 X 0 1 X 1 0 17500 0 0 17500 17500 1 Credit Union Political Action Committee 1807 West Diehl Road Naperville IL 60563 363092340 17500 0 Schedule C, Part I-A, Line 1 The organization's only political activity is the contribution to Credit Union Political Action Council that is reported in Parts I-A and I-C of this Schedule C. 16854585 0 16854585 66381527 0 19071192 47310335 21087787 0 13426393 7661394 112115857 0 84491911 27623946 1971606 0 0 1971606 101421866 0 Member Shares 4708270505 Non Member Shares 303440172 5011710677 507368239 0 0 0 0 0 507368239 0 0 0 507368239 463088731 0 0 0 0 0 463088731 0 0 0 463088731 X 1 1 X 0 1 0 Michael Valentine President, CEO and Treasurer 1995776 0 0 0 0 0 0 0 0 0 1995776 0 1834831 0 James Block EVP/Chief Operating Officer 948115 0 0 0 0 0 0 0 0 0 948115 0 866380 0 Carl Presto EVP/CFO 937823 0 0 0 0 0 0 0 0 0 937823 0 814599 0 Lisa Baron EVP/CHRO 785721 0 0 0 0 0 0 0 0 0 785721 0 808502 0 David Blum EVP Corporate Relationships and US Service Centers 841731 0 0 0 0 0 0 0 0 0 841731 0 709999 0 Scott Zulpo EVP/CIO 528026 0 0 0 0 0 0 0 0 0 528026 0 482122 0 Kristi Mertens Managing Director, Wealth Advisors 453519 0 0 0 0 0 0 0 0 0 453519 0 480247 0 Edwin T Watson Wealth Advisor 569567 0 0 0 0 0 0 0 0 0 569567 0 478931 0 David Brydun SVP/Chief Lending Officer 495295 0 0 0 0 0 0 0 0 0 495295 0 468592 0 Kerriann Mills EVP/Chief Legal Officer 468989 0 0 0 0 0 0 0 0 0 468989 0 416681 0 John Anderson Investment Advisors 508116 0 0 0 0 0 0 0 0 0 508116 0 409531 0 Dan Parsons SVP US Service Centers 494917 0 0 0 0 0 0 0 0 0 494917 0 378175 0 Stephenie Southard SVP/CISO 399683 0 0 0 0 0 0 0 0 0 399683 0 355919 0 Jill Sammons SVP/Marketing and Brand Strategy 493277 0 0 0 0 0 0 0 0 0 493277 0 349188 0 Charles Smith SVP/Controller 405108 0 0 0 0 0 0 0 0 0 405108 0 348679 0 Bhavna Guglani SVP, Chief Digital Officer 402655 0 0 0 0 0 0 0 0 0 402655 0 333272 0 Patty Mitchell VP of Compensation 352835 0 0 0 0 0 0 0 0 0 352835 0 324314 0 Maria Garcia SVP/Member Operations 376230 0 0 0 0 0 0 0 0 0 376230 0 321593 0 Brett Engel VP, Finance and Risk 342840 0 0 0 0 0 0 0 0 0 342840 0 304999 0 Davi Allen VP, Consumer Lending 332277 0 0 0 0 0 0 0 0 0 332277 0 300118 0 Brian Farrissey Wealth Advisor 409433 0 0 0 0 0 0 0 0 0 409433 0 0 0 John Sahagian VP 319209 0 0 0 0 0 0 0 0 0 319209 0 294097 0 Heather Wright Wealth Advisors 421485 0 0 0 0 0 0 0 0 0 421485 0 291158 0 Joe McCarthy VP, Real Estate Lending 334506 0 0 0 0 0 0 0 0 0 334506 0 278756 0 Dmitriy Melnick VP, Software Development 309602 0 0 0 0 0 0 0 0 0 309602 0 269705 0 Jordan Mueller VP, Program Delivery 321812 0 0 0 0 0 0 0 0 0 321812 0 269004 0 Keith Parris VP, Contact Center Opts 290359 0 0 0 0 0 0 0 0 0 290359 0 251597 0 Harvey Rindt VP, Compliance 264853 0 0 0 0 0 0 0 0 0 264853 0 233743 0 Dan Cook VP, US Retail Branches 246312 0 0 0 0 0 0 0 0 0 246312 0 207194 0 Schedule J, Part I, Line 1a Schedule J, Part I, Line 1a, BCU pays for golf memberships for Mike Valentine CEO, Dave Blum EVP of Business Development and Dan Parsons SVP of Community Branches Schedule J, Part I, Line 4, BCU deposited funds into a life insurance policy on the employee's life. Subject to vesting and sufficient policy values the employee can borrow from the policy. At death BCU recovers its premium plus interest any additional key person insurance proceeds. See part V schedule L for more details. Schedule J, Part I, Line 3 BOD has a compensation committee Schedule J, Part I, Line 4 Schedule J, Part I, Line 4, BCU deposited funds into a life insurance policy on the employee's life. Subject to vesting and sufficient policy values the employee can borrow from the policy. At death BCU recovers its premium plus interest any additional key person insurance proceeds. See part V schedule L for more details. Mike Valentine Current Key Employee Funds Purchase X 22500000 22579403 0 1 1 Lisa Baron Current Key Employee Funds Purchased X 6000000 6000000 0 1 1 James Block Current Key Employee Funds Purchased X 5400000 5400000 0 1 1 David Blum Current Key Employee Funds Purchased X 6700000 6700000 0 1 1 Carl Presto Current Key Employee Funds Purchased X 8900000 8900000 0 1 1 49579403 Schedule L, Part II Schedule L, Part II - Baxter Credit Union (BCU) provides supplemental retirement benefits through an arrangement the IRS refers to as "Collateral Assignment Split Dollar" CASD. Although the IRS requires reporting in Part II above for loans to interested persons, CASD, is not an actual loan. There is neither a transfer of funds to the employee nor an obligation for the employee to repay those funds. Instead, BCU recovers its outlay plus interest from the underlying insurance policy. BCU's recovery right is a key advantage of CASD. Traditional deferred compensation would pay the benefit from corporate assets, never to recover those dollars but with CASD, BCU recovers not only its outlay but also interest that takes into account the time value of money. in CASD, BCU deposits dollars directly into a life insurance policy with BCU holding a lien on the policy to ensure repayment. At specified times and subject to vesting requirements, the employee may borrow from the cash value of the policy to supplement retirement income (provided there are sufficient policy values). Borrowing is carefully monitored and limited to assure that the policy will remain in effect until the employee's death and will pay a death benefit at least sufficient to repay BCU's outlay plus interest. Any remaining death proceeds are divided between BCU and the employee's beneficiary as specified in the controlling agreement. Form 990, Part VI, Section A, Line 6 The credit union members elect directors and appoint outside auditor during the annual meeting held in February. One director is the President and CEO of the CU. Form 990, Part VI, Section A, Line 7a The credit union members elect directors and appoint outside auditor during the annual meeting held in February. One director is the President and CEO of the CU. Form 990, Part VI, Section A, Line 7b The credit union members elect directors and appoint outside auditor during the annual meeting held in February. One director is the President and CEO of the CU. Form 990, Part VI, Section B, Line 11b Form 990 is reviewed for accuracy by the Controller and CFO prior to submission to the IRS. Form 990, Part VI, Section B, Line 12c The credit union has a written code of conduct which includes a "conflict of interest" clause requiring all employees to complete online at time of employment and every year of service. Form 990, Part VI, Section B, Line 15 Compensation was determined by reviewing third party benchmarks by the Executive Committee of the BOD. Form 990, Part VI, Section C, Line 19 The credit union will provide its government documents, Interest policy, and financial statements to its membership upon request. BCU Wealth Advisors LLC 300 N Milwaukee Avenue Vernon Hills IL 60061 460191600 Financial Advisors IL 1297152 1737800 Baxter Credit Union Life Money You LLC 340 N Milwaukee Avenue Veron Hills IL 60061 Financial Well-Being IL -772801 -626680 Baxer Credit Union