Civic Intelligence

Commonwealth Credit Union

EIN 36-2424927 • 501(c)14 • Bourbonnais, IL

View Organization Page

Profile

Commonwealth credit union, building lifelong relationships one member at a time.

563 William Latham DriveBourbonnais, IL 60914

cwcu.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

60th percentile

0.90x

Higher debt load relative to assets than 60% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2022

Liabilities / Revenue

95th percentile

25.77x

Higher debt load relative to revenue than 95% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2022

Net Margin

68th percentile

17%

Higher net margin than 68% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2022

Top Officer Pay

29th percentile

$145,129

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 4.3% of source-year revenue.

$100M-$250M nonprofits • Source year 2017

Asset Growth

90th percentile

9.7%

Faster asset growth than 90% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Revenue Growth

8th percentile

-0.8%

Faster revenue growth than 8% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets60th percentile

Assets

Up

$118,326,005

Up $1,717,474 (+1.5%) from 2023

Liabilities

Up

$104,120,271

Up $309,861 (+0.3%) from 2023

Net Assets

Up

$14,205,734

Up $1,407,613 (+11%) from 2023

Operations
Liabilities / Revenue95th percentileNet Margin68th percentile

Revenue

Up

$5,885,489

Up $742,810 (+14%) from 2023

Expenses

Up

$4,576,283

Up $523,148 (+13%) from 2023

Net Income

Up

$1,309,206

Up $219,662 (+20%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth90th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$150M$100M$50M$0Assets 2010: $61,394,031Liabilities 2010: $54,630,183Net Assets 2010: $6,763,8482010Assets 2011: $61,996,910Liabilities 2011: $55,411,482Net Assets 2011: $6,585,4282011Assets 2012: $67,512,388Liabilities 2012: $60,963,321Net Assets 2012: $6,549,0672012Assets 2013: $69,062,211Liabilities 2013: $61,944,601Net Assets 2013: $7,117,6102013Assets 2014: $73,867,220Liabilities 2014: $66,640,967Net Assets 2014: $7,226,2532014Assets 2015: $76,655,958Liabilities 2015: $69,443,082Net Assets 2015: $7,212,8762015Assets 2016: $78,272,315Liabilities 2016: $70,951,107Net Assets 2016: $7,321,2082016Assets 2017: $79,742,472Liabilities 2017: $72,164,780Net Assets 2017: $7,577,6922017Assets 2018: $82,463,867Liabilities 2018: $73,604,266Net Assets 2018: $8,859,6012018Assets 2019: $84,998,155Liabilities 2019: $75,551,455Net Assets 2019: $9,446,7002019Assets 2020: $97,013,268Liabilities 2020: $87,183,573Net Assets 2020: $9,829,6952020Assets 2021: $107,784,960Liabilities 2021: $96,917,382Net Assets 2021: $10,867,5782021Assets 2022: $118,201,063Liabilities 2022: $106,551,206Net Assets 2022: $11,649,8572022Assets 2023: $116,608,531Liabilities 2023: $103,810,410Net Assets 2023: $12,798,1212023Assets 2024: $118,326,005Liabilities 2024: $104,120,271Net Assets 2024: $14,205,7342024

Highlighted filing

2024

Assets$118,326,005
Liabilities$104,120,271
Net Assets$14,205,734
Open 2024 Filing

Operations Trend

Revenue Growth8th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0Expenses 2010: $3,244,2262010Expenses 2011: $2,936,9042011Expenses 2012: $2,857,1392012Revenue 2013: $3,044,543Expenses 2013: $2,868,828Net Income 2013: $175,7152013Revenue 2014: $2,930,200Expenses 2014: $2,679,702Net Income 2014: $250,4982014Revenue 2015: $2,947,709Expenses 2015: $2,796,829Net Income 2015: $150,8802015Revenue 2016: $3,025,671Expenses 2016: $2,861,971Net Income 2016: $163,7002016Revenue 2017: $3,340,395Expenses 2017: $3,020,234Net Income 2017: $320,1612017Revenue 2018: $3,664,953Expenses 2018: $3,168,484Net Income 2018: $496,4692018Revenue 2019: $4,126,981Expenses 2019: $3,444,117Net Income 2019: $682,8642019Revenue 2020: $3,812,813Expenses 2020: $3,378,213Net Income 2020: $434,6002020Revenue 2021: $4,169,993Expenses 2021: $3,295,023Net Income 2021: $874,9702021Revenue 2022: $4,135,024Expenses 2022: $3,437,216Net Income 2022: $697,8082022Revenue 2023: $5,142,679Expenses 2023: $4,053,135Net Income 2023: $1,089,5442023Revenue 2024: $5,885,489Expenses 2024: $4,576,283Net Income 2024: $1,309,2062024

Highlighted filing

2024

Revenue$5,885,489
Expenses$4,576,283
Net Income$1,309,206
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$118,326,005
Liabilities
$104,120,271
Net assets
$14,205,734
Revenue
$5,885,489
Expenses
$4,576,283
Net income
$1,309,206
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$118$104$14.2$5.89$4.58$1.31
2023Detailed filing. Detailed filing data is available for this year.$117$104$12.8$5.14$4.05$1.09
2022Detailed filing. Detailed filing data is available for this year.$118$107$11.6$4.14$3.44$0.70
2021Detailed filing. Detailed filing data is available for this year.$108$96.9$10.9$4.17$3.30$0.87
2020Detailed filing. Detailed filing data is available for this year.$97.0$87.2$9.83$3.81$3.38$0.43
2019Detailed filing. Detailed filing data is available for this year.$85.0$75.6$9.45$4.13$3.44$0.68
2018Detailed filing. Detailed filing data is available for this year.$82.5$73.6$8.86$3.66$3.17$0.50
2017Detailed filing. Detailed filing data is available for this year.$79.7$72.2$7.58$3.34$3.02$0.32
2016Detailed filing. Detailed filing data is available for this year.$78.3$71.0$7.32$3.03$2.86$0.16
2015Detailed filing. Detailed filing data is available for this year.$76.7$69.4$7.21$2.95$2.80$0.15
2014Detailed filing. Detailed filing data is available for this year.$73.9$66.6$7.23$2.93$2.68$0.25
2013Detailed filing. Detailed filing data is available for this year.$69.1$61.9$7.12$3.04$2.87$0.18
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$67.5$61.0$6.55$2.86
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$62.0$55.4$6.59$2.94
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$61.4$54.6$6.76$3.24
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 30, 2025
Return Version
2024v5.0
Gross Receipts
$5,885,489
Mission and Program Overview

Mission

Commonwealth credit union, building lifelong relationships one member at a time.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$80,968,832$79,010,070▼ $1,958,762
Savings and Temporary Cash Investments$24,663,203$30,134,267▲ $5,471,064
Rtn Earn Endowment Incm Other Fnds$12,798,121$14,205,734▲ $1,407,613
Investments in Publicly Traded Securities$6,321,451$4,750,000▼ $1,571,451
Land, Buildings, and Equipment, Net$1,536,578$1,434,897▼ $101,681
Cash and Non-Interest-Bearing Accounts$568,595$507,695▼ $60,900
Accounts Receivable$259,090$257,989▼ $1,101
Prepaid Expenses and Deferred Charges$89,967$182,950▲ $92,983
Total Assets$116,608,531$118,326,005▲ $1,717,474
Other Assets Total$2,200,815$2,048,137▼ $152,678
Liabilities
Other Liabilities$103,327,078$103,693,994▲ $366,916
Accounts Payable and Accrued Expenses$483,332$426,277▼ $57,055
Total Liabilities$103,810,410$104,120,271▲ $309,861
Net Assets / Fund Balance
Total Net Assets Fund Balance$12,798,121$14,205,734▲ $1,407,613
Total Liabilities and Net Assets / Fund Balance$116,608,531$118,326,005▲ $1,717,474

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$802,519$827,786$1,630,305
Equipment$149,537$618,455$767,992
Land$482,841-$482,841
Compensation and Service Providers
Top Officer Pay29th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Raeann LovePresident/ceFT$192,441$192,441
Raeann LovePresident/CEO/treas-$192,441$192,441
Todd MeierVP of LendinFT$155,827$155,827
Todd MeierVP of Lending-$155,827$155,827

Board Members and Trustees

NameTitle
Kenneth TousignantChairperson
John Brack JrVice Chairpe
CHERYL O'BRIENDirector
Carl CavittDirector
H Ralph MarquisDirector
Betty DrechselSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,771,818
Investment Income
$1,041,930
Other Revenue
$71,741
Change in Net Assets
$1,309,206

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,885,489
Total Revenue per Audited Statements
$5,885,489
Total Revenue per Form 990
$5,885,489
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,019,404
Salaries, Compensation, and Employee Benefits$1,556,879
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest---$1,129,322
Other Salaries and Wages---$1,042,178
All Other Expenses---$674,061
Information Technology---$288,836
Current Officers, Directors, Trustees, and Key Employees---$192,441
Other Employee Benefits---$119,894
Other Expenses---$118,711
Pension Plan Contributions---$107,245
Payroll Taxes---$95,121
Depreciation Depletion---$85,298
Occupancy---$79,064
Office Expenses---$69,597
Fees for Services Accounting---$59,400
Advertising---$35,322
Insurance---$33,260
Conferences and Meetings---$26,865
Travel---$1,918
Total Functional Expenses$0$0$0$4,576,283

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,576,283
Total Expenses per Audited Statements$4,576,283
Total Expenses per Form 990$4,576,283
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
Yes
Subject to proxy tax
No

Reported Spending and Taxes

Line ItemAmount
Political Expenditures$2,500
Total Exempt Function Spending$2,500

Section 527 Organizations

OrganizationLocationAmount
36-3092340Naperville, IL$2,500
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Share Accounts$103,693,994
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“The credit union is a state of illinois chartered credit union. Anyone who lives or works in kankakee, ford, iroquois, grundy, kendell, livingston and will counties is eligible for membership.”

Form 990, Page 6, Part VI, Line 7A

“The governing body is made from individuals of the membership. The membership body elects individuals to be on the board.”

Form 990, Page 6, Part VI, Line 11B

“Management reviews the 990 before signing.”

Form 990, Page 6, Part VI, Line 12C

“The board members are informed when they take office and once a year after that that they must inform the board of any conflict of interest when it appears. This is not a written policy, but is communicated verbally.”

Form 990, Page 6, Part VI, Line 15A

“Compensation of top management officials includes a review and approval by independent persons, comparability data which is recorded in the minutes.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available by means of a bulletin board at the credit union and at the annual meeting.”

Filing and Contact Details

Filer

Filer Name
Commonwealth Credit Union
EIN
36-2424927
Phone
8159377447
Address
563 WILLIAM LATHAM DRIVE, BOURBONNAIS, IL 60914

Signing Officer

Name
Raeann Love
Title
President/CEO/treas
Phone
8159377447
Signed
2025-04-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Raeann Love
Formed
1951
Legal Domicile
Il
Voting Board Members
7
Independent Board Members
6
Employees
29

Preparer

Firm
Skdo Pc
Address
1605 N CONVENT ST, BOURBONNAIS, IL 60914
Preparer
Carmen Huizenga
Phone
8159371997
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

“Loan processing 91,177 0 0 loss on impairment 82,791 0 0 stmt processing 53,800 0 0 equipment maintenance 53,443 0 0 outside service - other 47,430 0 0 processing costs 46,708 0 0 check free bill pay 38,327 0 0 starphire expenses 32,115 0 0 employee relations 29,535 0 0 credit report 27,288 0 0 visa debit card qtrly fee 26,668 0 0 collections 26,357 0 0 bank charges 23,805 0 0 dues & subcriptions 21,278 0 0 contributions 15,387 0 0 armored car 13,292 0 0 mobile capture expense 10,398 0 0 reimbursements 10,125 0 0 miscellanous expense 8,383 0 0 auto 5,606 0 0 epn ach billing 4,820 0 0 ira - csg 3,543 0 0 real estate expense 1,511 0 0 cash over short 274 0 0 total 674,061 0 0”

Form 990, Part XI, Line 9

“Other comprehensive income 98,407”

Raw XML Appendix372 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd0false
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt0483332
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0426277
IRS990/AccountsReceivableGrp/BOYAmt0259090
IRS990/AccountsReceivableGrp/EOYAmt0257989
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0COMMONWEALTH CREDIT UNION, BUILDING LIFELONG RELATIONSHIPS ONE MEMBER AT A TIME.
IRS990/AdvertisingGrp/TotalAmt035322
IRS990/AllOtherExpensesGrp/TotalAmt0674061
IRS990/AuditCommitteeInd0true
IRS990/BackupWthldComplianceInd0true
IRS990/BooksInCareOfDetail/PersonNm0RAEANN LOVE
IRS990/BooksInCareOfDetail/PhoneNum08159377447
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0563 WM LATHAM DR
IRS990/BooksInCareOfDetail/USAddress/CityNm0BOURBONNAIS
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0IL
IRS990/BooksInCareOfDetail/USAddress/ZIPCd060914
IRS990/BusinessRlnWith35CtrlEntInd0false
IRS990/BusinessRlnWithFamMemInd0false
IRS990/BusinessRlnWithOrgMemInd0false
IRS990/CashNonInterestBearingGrp/BOYAmt0568595
IRS990/CashNonInterestBearingGrp/EOYAmt0507695
IRS990/ChangeToOrgDocumentsInd0false
IRS990/CollectionsOfArtInd0false
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0192441
IRS990/CompensationFromOtherSrcsInd0false
IRS990/CompensationProcessCEOInd0true
IRS990/CompensationProcessOtherInd0false
IRS990/ConferencesMeetingsGrp/TotalAmt026865
IRS990/ConflictOfInterestPolicyInd0false
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0false
IRS990/CreditCounselingInd0false
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt01041930
IRS990/CYOtherExpensesAmt03019404
IRS990/CYOtherRevenueAmt071741
IRS990/CYProgramServiceRevenueAmt04771818
IRS990/CYRevenuesLessExpensesAmt01309206
IRS990/CYSalariesCompEmpBnftPaidAmt01556879
IRS990/CYTotalExpensesAmt04576283
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt05885489
IRS990/DecisionsSubjectToApprovaInd0false
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DelegationOfMgmtDutiesInd0false
IRS990/DepreciationDepletionGrp/TotalAmt085298
IRS990/Desc0COMMONWEALTH CREDIT UNION SERVES MEMBERS IN KANKAKEE, FORD, IROQUOIS, GRUNDY, KENDELL, LIVINGSTON AND WILL COUNTIES IN ILLINOIS BY PROVIDING LOW COST FINANCIAL SERVICES.
IRS990/DescribedInSection501c3Ind0false
IRS990/DisregardedEntityInd0false
IRS990/DocumentRetentionPolicyInd0true
IRS990/DonorAdvisedFundInd0false
IRS990/DonorRstrOrQuasiEndowmentsInd0false
IRS990/ElectionOfBoardMembersInd0true
IRS990/EmployeeCnt029
IRS990/EmploymentTaxReturnsFiledInd0true
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FederalGrantAuditRequiredInd0false
IRS990/FeesForServicesAccountingGrp/TotalAmt059400
IRS990/ForeignActivitiesInd0false
IRS990/ForeignFinancialAccountInd0false
IRS990/ForeignOfficeInd0false
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt040.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt140.00
IRS990/Form990PartVIISectionAGrp/HighestCompensatedEmployeeInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/PersonNm0RAEANN LOVE
IRS990/Form990PartVIISectionAGrp/PersonNm1TODD MEIER
IRS990/Form990PartVIISectionAGrp/PersonNm2CARL CAVITT
IRS990/Form990PartVIISectionAGrp/PersonNm3BETTY DRECHSEL
IRS990/Form990PartVIISectionAGrp/PersonNm4JOHN BRACK JR
IRS990/Form990PartVIISectionAGrp/PersonNm5H RALPH MARQUIS
IRS990/Form990PartVIISectionAGrp/PersonNm6CHERYL O'BRIEN
IRS990/Form990PartVIISectionAGrp/PersonNm7KENNETH TOUSIGNANT
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt0192441
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt1155827
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT/CE
IRS990/Form990PartVIISectionAGrp/TitleTxt1VP OF LENDIN
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE CHAIRPE
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7CHAIRPERSON
IRS990/Form990ProvidedToGvrnBodyInd0false
IRS990/FormationYr01951
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt07
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt05885489
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt06
IRS990/IndivRcvdGreaterThan100KCnt02
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InformationTechnologyGrp/TotalAmt0288836
IRS990/InsuranceGrp/TotalAmt033260
IRS990/InterestGrp/TotalAmt01129322
IRS990/InvestmentIncomeGrp/ExclusionAmt01041930
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt01041930
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsPubTradedSecGrp/BOYAmt06321451
IRS990/InvestmentsPubTradedSecGrp/EOYAmt04750000
IRS990/IRPDocumentCnt01763
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt01446241
IRS990/LandBldgEquipBasisNetGrp/BOYAmt01536578
IRS990/LandBldgEquipBasisNetGrp/EOYAmt01434897
IRS990/LandBldgEquipCostOrOtherBssAmt02881138
IRS990/LegalDomicileStateCd0IL
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0true
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0COMMONWEALTH CREDIT UNION, BUILDING LIFELONG RELATIONSHIPS ONE MEMBER AT A TIME.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt012798121
IRS990/NetAssetsOrFundBalancesEOYAmt014205734
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt079064
IRS990/OfficeExpensesGrp/TotalAmt069597
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt02200815
IRS990/OtherAssetsTotalGrp/EOYAmt02048137
IRS990/OtherChangesInNetAssetsAmt098407
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0119894
IRS990/OtherExpensesGrp/Desc0DEBIT CARD EXPENSE
IRS990/OtherExpensesGrp/Desc1ATM INTERCHANGE FEES
IRS990/OtherExpensesGrp/Desc2CREDIT LOSS EXPENSE
IRS990/OtherExpensesGrp/Desc3VIRTUAL BRANCH
IRS990/OtherExpensesGrp/TotalAmt0163230
IRS990/OtherExpensesGrp/TotalAmt1129520
IRS990/OtherExpensesGrp/TotalAmt2125000
IRS990/OtherExpensesGrp/TotalAmt3118711
IRS990/OtherLiabilitiesGrp/BOYAmt0103327078
IRS990/OtherLiabilitiesGrp/EOYAmt0103693994
IRS990/OtherRevenueMiscGrp/Desc0OTHER REVENUE
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt071741
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt071741
IRS990/OtherRevenueTotalAmt071741
IRS990/OtherSalariesAndWagesGrp/TotalAmt01042178
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt080968832
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt079010070
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/TotalAmt095121
IRS990/PensionPlanContributionsGrp/TotalAmt0107245
IRS990/PoliciesReferenceChaptersInd0true
IRS990/PoliticalCampaignActyInd0true
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt089967
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0182950
IRS990/PrincipalOfficerNm0RAEANN LOVE
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INTEREST
IRS990/ProgramServiceRevenueGrp/Desc1SERVICE FEES AND INTERCHANGE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt04047588
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1724230
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt04047588
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1724230
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt0839595
IRS990/PYOtherExpensesAmt02499927
IRS990/PYOtherRevenueAmt0141469
IRS990/PYProgramServiceRevenueAmt04161615
IRS990/PYRevenuesLessExpensesAmt01089544
IRS990/PYSalariesCompEmpBnftPaidAmt01553208
IRS990/PYTotalExpensesAmt04053135
IRS990/PYTotalRevenueAmt05142679
IRS990/ReconcilationRevenueExpnssAmt01309206
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt012798121
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt014205734
IRS990/SavingsAndTempCashInvstGrp/BOYAmt024663203
IRS990/SavingsAndTempCashInvstGrp/EOYAmt030134267
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleC/Form1120POLFiledInd0true
IRS990ScheduleC/InternalFundsContributedAmt02500
IRS990ScheduleC/PoliticalExpendituresAmt02500
IRS990ScheduleC/Section527PoliticalOrgGrp/EIN0363092340
IRS990ScheduleC/Section527PoliticalOrgGrp/OrganizationBusinessName/BusinessNameLine1Txt0CREDIT UNION POLITICAL ACTION COUNC
IRS990ScheduleC/Section527PoliticalOrgGrp/PaidInternalFundsAmt02500
IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/AddressLine1Txt01807 WEST DIEHL ROAD
IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/AddressLine2Txt0PO BOX 3107
IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/CityNm0NAPERVILLE
IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/StateAbbreviationCd0IL
IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/ZIPCd060563
IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0COMMONWEALTH CREDIT UNION IS A MEMBER OF CUPAC (CREDIT UNION POLITICAL ACTION COUNCIL). CONTRIBUTIONS ARE SENT TO CUPAC THAT ARE THEN USED INDIRECTLY FOR POLITICAL ACTIVITIES.
IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt1THE 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.
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE C, PART I-A, LINE 1
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE C, PART IV
IRS990ScheduleC/TotalExemptFunctionExpendAmt02500
IRS990ScheduleD/BuildingsGrp/BookValueAmt0802519
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0827786
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01630305
IRS990ScheduleD/EquipmentGrp/BookValueAmt0149537
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0618455
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0767992
IRS990ScheduleD/ExpensesSubtotalAmt04576283
IRS990ScheduleD/LandGrp/BookValueAmt0482841
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0482841
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0103693994
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARE ACCOUNTS
IRS990ScheduleD/RevenueSubtotalAmt05885489
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01434897
IRS990ScheduleD/TotalExpensesPerForm990Amt04576283
IRS990ScheduleD/TotalLiabilityAmt0103693994
IRS990ScheduleD/TotalRevenuePerForm990Amt05885489
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05885489
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt04576283
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/IndependentConsultantInd0X
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0192441
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1155827
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0RAEANN LOVE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1TODD MEIER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT/CEO/TREAS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1VP OF LENDING
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0192441
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1155827
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION IS A STATE OF ILLINOIS CHARTERED CREDIT UNION. ANYONE WHO LIVES OR WORKS IN KANKAKEE, FORD, IROQUOIS, GRUNDY, KENDELL, LIVINGSTON AND WILL COUNTIES IS ELIGIBLE FOR MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE GOVERNING BODY IS MADE FROM INDIVIDUALS OF THE MEMBERSHIP. THE MEMBERSHIP BODY ELECTS INDIVIDUALS TO BE ON THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MANAGEMENT REVIEWS THE 990 BEFORE SIGNING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD MEMBERS ARE INFORMED WHEN THEY TAKE OFFICE AND ONCE A YEAR AFTER THAT THAT THEY MUST INFORM THE BOARD OF ANY CONFLICT OF INTEREST WHEN IT APPEARS. THIS IS NOT A WRITTEN POLICY, BUT IS COMMUNICATED VERBALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION OF TOP MANAGEMENT OFFICIALS INCLUDES A REVIEW AND APPROVAL BY INDEPENDENT PERSONS, COMPARABILITY DATA WHICH IS RECORDED IN THE MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS ARE MADE AVAILABLE BY MEANS OF A BULLETIN BOARD AT THE CREDIT UNION AND AT THE ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6LOAN PROCESSING 91,177 0 0 LOSS ON IMPAIRMENT 82,791 0 0 STMT PROCESSING 53,800 0 0 EQUIPMENT MAINTENANCE 53,443 0 0 OUTSIDE SERVICE - OTHER 47,430 0 0 PROCESSING COSTS 46,708 0 0 CHECK FREE BILL PAY 38,327 0 0 STARPHIRE EXPENSES 32,115 0 0 EMPLOYEE RELATIONS 29,535 0 0 CREDIT REPORT 27,288 0 0 VISA DEBIT CARD QTRLY FEE 26,668 0 0 COLLECTIONS 26,357 0 0 BANK CHARGES 23,805 0 0 DUES & SUBCRIPTIONS 21,278 0 0 CONTRIBUTIONS 15,387 0 0 ARMORED CAR 13,292 0 0 MOBILE CAPTURE EXPENSE 10,398 0 0 REIMBURSEMENTS 10,125 0 0 MISCELLANOUS EXPENSE 8,383 0 0 AUTO 5,606 0 0 EPN ACH BILLING 4,820 0 0 IRA - CSG 3,543 0 0 REAL ESTATE EXPENSE 1,511 0 0 CASH OVER SHORT 274 0 0 TOTAL 674,061 0 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7OTHER COMPREHENSIVE INCOME 98,407
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 24E
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0116608531
IRS990/TotalAssetsEOYAmt0118326005
IRS990/TotalAssetsGrp/BOYAmt0116608531
IRS990/TotalAssetsGrp/EOYAmt0118326005
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalEmployeeCnt029
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt04576283
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0103810410
IRS990/TotalLiabilitiesEOYAmt0104120271
IRS990/TotalLiabilitiesGrp/BOYAmt0103810410
IRS990/TotalLiabilitiesGrp/EOYAmt0104120271
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt012798121
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt014205734
IRS990/TotalProgramServiceRevenueAmt04771818
IRS990/TotalReportableCompFromOrgAmt0348268
IRS990/TotalRevenueGrp/ExclusionAmt01041930
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt04843559
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05885489
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0116608531
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0118326005
IRS990/TravelGrp/TotalAmt01918
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0563 WM LATHAM
IRS990/USAddress/CityNm0BOURBONNAIS
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060914
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0HTTP://CWCU.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RAEANN LOVE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/CEO/TREAS
ReturnHeader/BusinessOfficerGrp/PhoneNum08159377447
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0COMMONWEALTH CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0COMM
ReturnHeader/Filer/EIN0362424927
ReturnHeader/Filer/PhoneNum08159377447
ReturnHeader/Filer/USAddress/AddressLine1Txt0563 WILLIAM LATHAM DRIVE
ReturnHeader/Filer/USAddress/CityNm0BOURBONNAIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060914
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0362830852
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SKDO PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01605 N CONVENT ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BOURBONNAIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060914
ReturnHeader/PreparerPersonGrp/PhoneNum08159371997
ReturnHeader/PreparerPersonGrp/PreparationDt02025-04-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CARMEN HUIZENGA
ReturnHeader/ReturnTs02025-05-13T10:45:52-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

Document Assets

No mirrored PDF or thumbnail assets are attached yet.