Civic Intelligence

Credit Union 1

990 • Fiscal year 2018 • EIN 37-0767435

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 12, 2019

200 E Champaign AveRantoul, IL 61866-2930

(800) 252-6950

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

72nd percentile

0.90x

Higher debt load relative to assets than 72% of similar nonprofits.

2018 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2018

Liabilities / Revenue

30th percentile

15.12x

Higher debt load relative to revenue than 30% of similar nonprofits.

2018 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2018

Net Margin

40th percentile

13%

Higher net margin than 40% of similar nonprofits.

2018 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2018

Top Officer Pay

72nd percentile

$502,663

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2018 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2018

Asset Growth

33rd percentile

2.3%

Faster asset growth than 33% of similar nonprofits.

2018 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Revenue Growth

73rd percentile

15%

Faster revenue growth than 73% of similar nonprofits.

2018 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Assets

Up

$845,293,551

Up $18,960,356 (+2.3%) from 2017

Net Assets

Up

$81,152,910

Up $6,385,269 (+8.5%) from 2017

Liabilities

Up

$764,140,641

Up $12,575,087 (+1.7%) from 2017

Revenue

Up

$50,527,357

Up $6,427,635 (+15%) from 2017

Expenses

Up

$44,142,088

Up $4,412,010 (+11%) from 2017

Net Income

Up

$6,385,269

Up $2,015,625 (+46%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0B$1.5B$1.0B$500M$0Assets 2013: $745,918,714Liabilities 2013: $687,258,011Net Assets 2013: $58,660,7032013Assets 2014: $746,663,488Liabilities 2014: $685,194,165Net Assets 2014: $61,469,3232014Assets 2015: $773,159,834Liabilities 2015: $707,860,891Net Assets 2015: $65,298,9432015Assets 2016: $789,470,481Liabilities 2016: $720,255,004Net Assets 2016: $69,215,4772016Assets 2017: $826,333,195Liabilities 2017: $751,565,554Net Assets 2017: $74,767,6412017Assets 2018: $845,293,551Liabilities 2018: $764,140,641Net Assets 2018: $81,152,9102018Assets 2019: $958,631,700Liabilities 2019: $869,457,171Net Assets 2019: $89,174,5292019Assets 2020: $1,171,433,354Liabilities 2020: $1,075,224,083Net Assets 2020: $96,209,2712020Assets 2021: $1,226,789,437Liabilities 2021: $1,119,898,189Net Assets 2021: $106,891,2482021Assets 2022: $1,585,978,393Liabilities 2022: $1,455,360,872Net Assets 2022: $130,617,5212022Assets 2023: $1,699,028,667Liabilities 2023: $1,566,095,833Net Assets 2023: $132,932,8342023Assets 2024: $1,873,446,949Liabilities 2024: $1,715,980,762Net Assets 2024: $157,466,1872024

Highlighted filing

2018

Assets$845,293,551
Liabilities$764,140,641
Net Assets$81,152,910

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$150M$100M$50M$0Revenue 2013: $37,302,606Expenses 2013: $35,377,494Net Income 2013: $1,925,1122013Revenue 2014: $36,824,051Expenses 2014: $34,023,279Net Income 2014: $2,800,7722014Revenue 2015: $38,015,498Expenses 2015: $34,185,878Net Income 2015: $3,829,6202015Revenue 2016: $39,294,201Expenses 2016: $35,443,230Net Income 2016: $3,850,9712016Revenue 2017: $44,099,722Expenses 2017: $39,730,078Net Income 2017: $4,369,6442017Revenue 2018: $50,527,357Expenses 2018: $44,142,088Net Income 2018: $6,385,2692018Revenue 2019: $59,629,366Expenses 2019: $51,607,748Net Income 2019: $8,021,6182019Revenue 2020: $61,895,810Expenses 2020: $54,861,066Net Income 2020: $7,034,7442020Revenue 2021: $72,991,911Expenses 2021: $59,187,636Net Income 2021: $13,804,2752021Revenue 2022: $74,221,901Expenses 2022: $64,352,203Net Income 2022: $9,869,6982022Revenue 2023: $98,062,927Expenses 2023: $88,205,293Net Income 2023: $9,857,6342023Revenue 2024: $107,315,887Expenses 2024: $103,205,283Net Income 2024: $4,110,6042024

Highlighted filing

2018

Revenue$50,527,357
Expenses$44,142,088
Net Income$6,385,269
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 12, 2019
Return Version
2018v3.1
Gross Receipts
$51,226,957
Mission and Program Overview

Mission

Credit union 1 is a member-owned and controlled financial institution dedicated to providing convenient and competitive services as a means of improving ongoing economic well-being of our members while promoting growth and maintaining the credit union's long-term financial stability.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$447,971,226$504,881,400▲ $56,910,174
Investments in Publicly Traded Securities$259,117,804$258,808,709▼ $309,095
Rtn Earn Endowment Incm Other Fnds$74,767,641$81,152,910▲ $6,385,269
Savings and Temporary Cash Investments$69,994,223$31,253,572▼ $38,740,651
Land, Buildings, and Equipment, Net$19,709,672$18,826,816▼ $882,856
Cash and Non-Interest-Bearing Accounts$10,081,231$8,058,472▼ $2,022,759
Investments Program Related$353,612$282,890▼ $70,722
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$826,333,195$845,293,551▲ $18,960,356
Other Assets Total$19,105,427$23,181,692▲ $4,076,265
Liabilities
Other Liabilities$743,017,703$757,811,552▲ $14,793,849
Accounts Payable and Accrued Expenses$8,547,851$6,329,089▼ $2,218,762
Total Liabilities$751,565,554$764,140,641▲ $12,575,087
Net Assets / Fund Balance
Total Net Assets Fund Balance$74,767,641$81,152,910▲ $6,385,269
Total Liabilities and Net Assets / Fund Balance$826,333,195$845,293,551▲ $18,960,356

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$10,402,893$12,122,205$22,525,098
Other Land Buildings$989,206$7,546,378$8,535,584
Land$5,481,391-$5,481,391
Leasehold Improvements$785,075$3,579,119$4,364,194
Equipment$1,168,251$1,323,529$2,491,780
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Paul SimonsCEO/director/treasurerFT$380,000$122,663$502,663
Paul FichterGeneral Counsel/SVP Legal OpsFT$185,563$38,771$224,334
Susan HejnoszEvp/chief Information OffiFT$179,531$31,271$210,802
James McneilSenior VP Risk ManagementFT$153,466$46,191$199,657
Brenda CraneSVP/chief Lending OfficerFT$164,685$29,016$193,701
Todd GundersonEvp/chief Operations OfficerFT$182,308$7,775$190,083
Richard BroaddusSVP/CFOFT$159,437$28,628$188,065
Tim RapsonVP Branch OperationsFT$171,039$9,226$180,265
Michael HirtSVP/chief Technology OfficerFT$136,014$11,221$147,235
James KampVP Payment ServicesFT$117,308$20,869$138,177
Sue HeyenVP Human Resources & TrainFT$119,085$14,586$133,671
Lenore HansenVP Loss Prevention & RecovFT$107,466$18,800$126,266
Denver DouglasVP Technical Development AnalystFT$113,948$9,532$123,480
Dan McleanVP Real EstateFT$112,645$7,406$120,051
Theado BondsVP Member Solutions & OperationsFT$109,566$5,998$115,564
Donna RobinsonDirector-$1,224-$1,224

Board Members and Trustees

NameTitle
Daniel RicciChairman of the Board
David ScottDirector
Joseph LyonsDirector
Kent YagerDirector
Robert EberhardtDirector
Robert Larson JrDirector
Thomas Wells JrDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Allied Benefit Systems INCEmployee Benefits300 W ADAMS STREET SUITE 500, Chicago, IL 60606$658,325
22nd St LLC Butterfield PropertiesRent477 E BUTTERFIELD ROAD STE 202, Lombard, IL 60148$319,926
Gpx Ommunications LLC Envolve IpPhonesPO BOX 1023, Southeastern, PA 19398-1023$286,442
Atrium Mall LLCRentPO BOX 9507, Boston, MA 02114-9507$214,523
Comar Properties INCRentPO BOX 6271, Carol Stream, IL 60197$195,161
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$38,159,621
Investment Income
$12,130,728
Other Revenue
$237,008
Change in Net Assets
$6,385,269
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$25,160,407
Salaries, Compensation, and Employee Benefits$18,981,681
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$11,143,292
Other Employee Benefits---$5,043,151
Interest---$4,951,776
Current Officers, Directors, Trustees, and Key Employees---$2,795,238
Information Technology---$1,987,335
Depreciation Depletion---$1,822,598
All Other Expenses---$1,821,606
Occupancy---$1,642,112
Office Expenses---$1,311,183
Other Expenses---$1,149,450
Fees for Services Other---$881,826
Advertising---$694,935
Travel---$471,999
Insurance---$209,503
Total Functional Expenses$0$0$0$44,142,088
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
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Share Deposits (savings and Membership)$298,472,214
Money Market Share Deposit$213,751,920
Share Draft Deposits$136,313,400
Share Certificate Deposits$74,470,540
Ira Certificates$34,803,478
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

The organization has members.

Form 990, Part VI, Section A, Line 7A

Credit union members, which are the depositors, elect the board of directors at the annual meeting.

Form 990, Part VI, Section A, Line 7B

Certain transactions and decisions may be subject to approval by members.

Form 990, Part VI, Section B, Line 11B

The completed 990 is reviewed by the senior vice president of finance, senior vp risk management, president/ceo and the supervisory committee of the board of directors

Form 990, Part VI, Section B, Line 12C

The board compliance with the conflict of interest policy has not been an issue at the credit union. Board members notify the board of potential conflicts and remove him/herself from discussion of any such areas.

Form 990, Part VI, Section B, Line 15

The board of directors reviews the president/ceo salary annually and utilizes a compensation survey prepared by cues for comparability purposes. The cues executive compensation guide is utilized by the ceo for salary comparability for officers and employees making over $100,000.

Form 990, Part VI, Section C, Line 19

AVAILABLE UPON REQUEST.

Filing and Contact Details

Filer

Filer Name
Credit Union 1
EIN
37-0767435
Phone
8002526950
Address
200 E CHAMPAIGN AVE, RANTOUL, IL 61866-2930

Signing Officer

Name
Richard Broaddus
Title
CFO/SVP
Phone
8002526950
Signed
2019-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Broaddus
Formed
1958
Legal Domicile
Il
Voting Board Members
9
Independent Board Members
8
Employees
409
Volunteers
8

Preparer

Firm
Gbq Partners LLC
Address
4030 SMITH ROAD, CINCINNATI, OH 45209
Preparer
Gregory Heimkreiter
Phone
5138713033
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

Supervisory committee engages the cpa firm for an annual audit of the financial statement. Additionally the supervisory committee supervises the enterprise risk management department dept which includes 3 employees.

Financial Statement Notes

PART IV, LINE 2B:

The credit union services 1st mortgage loans and as part of providing this service, collects property insurance and real estate tax payments monthly from home owners. The credit union holds the funds in escrow until the insurance premiums or tax bills are due.

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IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt10EVP/CHIEF INFORMATION OFFI
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IRS990/Form990PartVIISectionAGrp/TitleTxt12VP PAYMENT SERVICES
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IRS990/Form990PartVIISectionAGrp/TitleTxt14VP TECHNICAL DEVELOPMENT ANALYST
IRS990/Form990PartVIISectionAGrp/TitleTxt15VP BRANCH OPERATIONS
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IRS990/Form990PartVIISectionAGrp/TitleTxt17VP HUMAN RESOURCES & TRAIN
IRS990/Form990PartVIISectionAGrp/TitleTxt18VP LOSS PREVENTION & RECOV
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IRS990/Form990PartVIISectionAGrp/TitleTxt20EVP/CHIEF OPERATIONS OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt21GENERAL COUNSEL/SVP LEGAL OPS
IRS990/Form990PartVIISectionAGrp/TitleTxt22SENIOR VP RISK MANAGEMENT
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