Civic Intelligence

Members1 St Community Credit Union

990 • Fiscal year 2017 • EIN 42-0894163

Jan 01, 2017 to Dec 31, 2017 • Filed on Oct 26, 2018

Organization ProfileWWW.MEMBERS1ST.COM

View Organization Page

910 S 12th AvenueMarshalltown, IA 50158

(641) 752-1582

Siviq Scores

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

Liabilities / Assets

55th percentile

0.90x

Higher debt load relative to assets than 55% of similar nonprofits.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2017

Liabilities / Revenue

86th percentile

23.75x

Higher debt load relative to revenue than 86% of similar nonprofits.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2017

Net Margin

76th percentile

17%

Higher net margin than 76% of similar nonprofits.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2017

Top Officer Pay

38th percentile

$188,151

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 3.1% of source-year revenue.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2017

Asset Growth

54th percentile

4.1%

Faster asset growth than 54% of similar nonprofits.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Revenue Growth

81st percentile

12%

Faster revenue growth than 81% of similar nonprofits.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets55th percentile

Assets

Up

$162,935,375

Up $6,488,086 (+4.1%) from 2016

Net Assets

Up

$16,792,563

Up $1,039,074 (+6.6%) from 2016

Liabilities

Up

$146,142,812

Up $5,449,012 (+3.9%) from 2016

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin76th percentile

Revenue

Up

$6,152,522

Up $653,419 (+12%) from 2016

Expenses

Up

$5,113,450

Up $606,192 (+13%) from 2016

Net Income

Up

$1,039,072

Up $47,227 (+4.8%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth54th percentile

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

$300M$200M$100M$0Assets 2011: $139,844,805Liabilities 2011: $126,403,361Net Assets 2011: $13,441,4442011Assets 2012: $146,061,027Liabilities 2012: $132,247,075Net Assets 2012: $13,813,9522012Assets 2013: $145,473,792Liabilities 2013: $131,505,118Net Assets 2013: $13,968,6742013Assets 2014: $145,364,264Liabilities 2014: $131,238,466Net Assets 2014: $14,125,7982014Assets 2015: $150,023,984Liabilities 2015: $135,262,340Net Assets 2015: $14,761,6442015Assets 2016: $156,447,289Liabilities 2016: $140,693,800Net Assets 2016: $15,753,4892016Assets 2017: $162,935,375Liabilities 2017: $146,142,812Net Assets 2017: $16,792,5632017Assets 2018: $169,759,406Liabilities 2018: $151,615,954Net Assets 2018: $18,143,4522018Assets 2019: $177,733,915Liabilities 2019: $157,808,505Net Assets 2019: $19,925,4102019Assets 2020: $227,098,240Liabilities 2020: $206,262,665Net Assets 2020: $20,835,5752020Assets 2021: $239,859,942Liabilities 2021: $218,028,102Net Assets 2021: $21,831,8402021Assets 2022: $237,018,229Liabilities 2022: $215,416,559Net Assets 2022: $21,601,6702022Assets 2023: $260,872,184Liabilities 2023: $237,171,780Net Assets 2023: $23,700,4042023Assets 2024: $271,103,287Liabilities 2024: $245,343,218Net Assets 2024: $25,760,0692024

Highlighted filing

2017

Assets$162,935,375
Liabilities$146,142,812
Net Assets$16,792,563
Open 2017 Filing

Operations Trend

Revenue Growth81st percentile

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

$20M$15M$10M$5.0M$0Expenses 2011: $5,128,9132011Expenses 2012: $4,430,4412012Revenue 2013: $4,268,403Expenses 2013: $4,113,681Net Income 2013: $154,7222013Revenue 2014: $4,250,600Expenses 2014: $4,093,476Net Income 2014: $157,1242014Revenue 2015: $5,510,929Expenses 2015: $4,875,083Net Income 2015: $635,8462015Revenue 2016: $5,499,103Expenses 2016: $4,507,258Net Income 2016: $991,8452016Revenue 2017: $6,152,522Expenses 2017: $5,113,450Net Income 2017: $1,039,0722017Revenue 2018: $7,228,648Expenses 2018: $5,877,420Net Income 2018: $1,351,2282018Revenue 2019: $7,960,513Expenses 2019: $6,514,903Net Income 2019: $1,445,6102019Revenue 2020: $7,830,882Expenses 2020: $6,935,077Net Income 2020: $895,8052020Revenue 2021: $8,090,097Expenses 2021: $6,871,051Net Income 2021: $1,219,0462021Revenue 2022: $8,850,118Expenses 2022: $7,573,629Net Income 2022: $1,276,4892022Revenue 2023: $11,956,678Expenses 2023: $10,591,203Net Income 2023: $1,365,4752023Revenue 2024: $15,919,606Expenses 2024: $14,148,299Net Income 2024: $1,771,3072024

Highlighted filing

2017

Revenue$6,152,522
Expenses$5,113,450
Net Income$1,039,072
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Oct 26, 2018
Return Version
2017v2.3
Gross Receipts
$6,152,522
Mission and Program Overview

Mission

The credit union is a financial cooperative that provides deposit, loan, and other financial services to our member owners.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$85,949,947$97,959,408▲ $12,009,461
Savings and Temporary Cash Investments$33,543,694$28,537,865▼ $5,005,829
Investments Other Securities$16,925,100$20,111,818▲ $3,186,718
Pd in Cap Srpls Land Bldg Eqp Fund$0$10,421,868▲ $10,421,868
Cash and Non-Interest-Bearing Accounts$9,284,600$8,801,726▼ $482,874
Rtn Earn Endowment Incm Other Fnds$15,753,489$6,370,695▼ $9,382,794
Investments Program Related$3,433,217$3,387,800▼ $45,417
Land, Buildings, and Equipment, Net$1,934,466$1,838,387▼ $96,079
Prepaid Expenses and Deferred Charges$89,991$58,978▼ $31,013
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$156,447,289$162,935,375▲ $6,488,086
Other Assets Total$5,286,274$2,239,393▼ $3,046,881
Liabilities
Other Liabilities$139,586,665$145,116,613▲ $5,529,948
Accounts Payable and Accrued Expenses$1,107,135$1,025,466▼ $81,669
Deferred Revenue$0$733▲ $733
Total Liabilities$140,693,800$146,142,812▲ $5,449,012
Net Assets / Fund Balance
Total Net Assets Fund Balance$15,753,489$16,792,563▲ $1,039,074
Total Liabilities and Net Assets / Fund Balance$156,447,289$162,935,375▲ $6,488,086

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,238,378$1,471,100$2,709,478
Equipment$131,991$1,505,585$1,637,576
Land$468,018-$468,018
Other Securities$3,000,000--
Compensation and Service Providers
Top Officer Pay38th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Janet BorerCEOFT$164,609$23,542$188,151
Jerry OberVice PresidentFT$96,815$11,604$108,419
Carol AndersonVice PresidentFT$91,100$11,288$102,388

Board Members and Trustees

NameTitle
Joel McanultyChairman
Randy SwartsVice-chairman
Virtus BrockmanBoard CFO
Donald ShirleyDirector
Eugene GoodmanDirector
Jeff VanceDirector
Susan KlaessyDirector
Tami LichtenbergDirector
Tom DonaldDirector
Candace BakerSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
AureonProfessional Employment Organization7760 OFFICE PLAZA DR S, West Des Moines, IA 50026$1,977,251
CuanswersCore Processing, Auditing, Marketing Ass6000 28TH ST SE STE 100, Grand Rapids, MI 49546$403,220
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,542,137
Investment Income
$901,097
Other Revenue
$709,288
Change in Net Assets
$1,039,072

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,152,522
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$6,152,522
Total Revenue per Form 990
$6,152,522
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,962,956
Salaries, Compensation, and Employee Benefits$2,150,494
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,428,056--$1,428,056
Information Technology$404,481--$404,481
Current Officers, Directors, Trustees, and Key Employees$398,959--$398,959
Interest$317,310--$317,310
Other Expenses$225,557--$225,557
Advertising$215,783--$215,783
Office Expenses$206,555--$206,555
Other Employee Benefits$187,885--$187,885
Occupancy$145,739--$145,739
Payroll Taxes$135,594--$135,594
Depreciation Depletion$118,700--$118,700
Fees for Services Other$116,000--$116,000
All Other Expenses$107,059--$107,059
Fees for Services Management$93,342--$93,342
Insurance$44,195--$44,195
Conferences and Meetings$34,183--$34,183
Fees for Services Accounting$31,400--$31,400
Payments to Affiliates$23,311--$23,311
Travel$18,842--$18,842
Fees for Services Legal$10,200--$10,200
Total Functional Expenses$5,113,450$0$0$5,113,450

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,113,450
Total Expenses per Audited Statements$5,113,450
Total Expenses per Form 990$5,113,450
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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 Shares$145,116,613
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“During 2017, the credit union used a management company. The credit union is not paying it's ceo and other employees directly, rather the credit union is paying these individuals through an independent contractor arrangement with the management company named aureon. The credit union is contracted to pay aureon for the ceo and other positions. The compensation information on form 990 is the amount of compensation that the management company paid the ceo and other employees.”

Form 990, Part VI, Section A, Line 6

“The credit union has one class of membership comprised of all depositors. Membership consists of persons who live, attend school, worship, or work for any entity which has a place of business in marshall, story, or boone counties and the contiguous counties of tama, grundy, hardin, hamilton, webster, greene, dallas, polk, jasper, and poweshiek.”

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

“All members have one vote.”

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

“Form 990 is reviewed by the ceo prior to filing. A full copy is given to the board for review at a regular meeting.”

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

“A copy of our policy is provided to each officer, director, and key employee. They are required each year to complete a key personnel questionnaire and to disclose any such potential or actual conflict of interest.”

Form 990, Part VI, Section B, Line 15

“The board of directors sets the compensation for the ceo and they approve salary ranges for the other positions. The ceo sets compensation within the constraints of the budget and salary ranges for the other key employees. They also utilize the cuna salary survey to determine reasonableness for all positions.”

Form 990, Part VI, Section C, Line 19

“Financial statements are posted at each office and are also distributed at the credit union's annual meeting.”

Filing and Contact Details

Filer

Filer Name
Members1st Community Credit Union
EIN
42-0894163
Phone
6417521582
Address
910 S 12TH AVENUE, MARSHALLTOWN, IA 50158

Signing Officer

Name
Janet Borer
Title
CEO
Phone
6417521582
Signed
2018-10-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Janet Borer
Formed
1964
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
9
Employees
57
Volunteers
0

Preparer

Firm
Gardiner Thomsen
Address
10555 NEW YORK AVENUE SUITE 200, DES MOINES, IA 50322
Preparer
Dennis Gardiner CPA
Phone
5152701446
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“ROUNDING 2.”

Form 990 Page 12 Part XII Line 3C

“The audit committee reviews the audited financials and discusses the audit with management and votes on retention of auditors.”

Financial Statement Notes

Part X Line 2

“The credit union recognizes any uncertain tax benefits if such benefits are a result of a tax position that is more likely than not sustainable upon examination by federal or state tax authorities. When an uncertain benefit is determined to be more likely than not sustained, the credit union values the position, for financial statement purposes, of the largest amount of the tax benefit that is more than 50% likely of being realized upon resolution of the benefit. For any tax positions taken that do not meet the more likely than not criteria, the credit union establishes a tax reserve for 100% of the position taken. For the twelve months ended december 31, 2017, no significant amounts or unrecognized tax benefits existed nor does the credit union anticipate any significant changes in unrecognized tax benefits to occur within the next twelve months. The credit union files tax returns with the internal revenue service and the state of iowa.”

Raw XML AppendixShowing 400 of 488 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.

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt6VICE-CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt11VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt12CEO
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IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt09
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt06152522
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt09
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InformationTechnologyGrp/ProgramServicesAmt0404481
IRS990/InformationTechnologyGrp/TotalAmt0404481
IRS990/InsuranceGrp/ProgramServicesAmt044195
IRS990/InsuranceGrp/TotalAmt044195
IRS990/InterestGrp/ProgramServicesAmt0317310
IRS990/InterestGrp/TotalAmt0317310
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt0901097
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0901097
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt016925100
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt020111818
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IRS990/InvestmentsProgramRelatedGrp/EOYAmt03387800
IRS990/IRPDocumentCnt02655
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt02976685
IRS990/LandBldgEquipBasisNetGrp/BOYAmt01934466
IRS990/LandBldgEquipBasisNetGrp/EOYAmt01838387
IRS990/LandBldgEquipCostOrOtherBssAmt04815072
IRS990/LegalDomicileStateCd0IA
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MiscellaneousRevenueGrp/RelatedOrExemptFuncIncomeAmt0167227
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt0167227
IRS990/MissionDesc0THE CREDIT UNION IS A FINANCIAL COOPERATIVE THAT PROVIDES DEPOSIT, LOAN, AND OTHER FINANCIAL SERVICES TO OUR MEMBER OWNERS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt015753489
IRS990/NetAssetsOrFundBalancesEOYAmt016792563
IRS990/NetUnrelatedBusTxblIncmAmt0-781
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt0145739
IRS990/OccupancyGrp/TotalAmt0145739
IRS990/OfficeExpensesGrp/ProgramServicesAmt0206555
IRS990/OfficeExpensesGrp/TotalAmt0206555
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt05286274
IRS990/OtherAssetsTotalGrp/EOYAmt02239393
IRS990/OtherChangesInNetAssetsAmt02
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0187885
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0187885
IRS990/OtherExpensesGrp/Desc0LOAN SERVICING EXPENSE
IRS990/OtherExpensesGrp/Desc1CARD EXPENSE
IRS990/OtherExpensesGrp/Desc2PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/ProgramServicesAmt0431171
IRS990/OtherExpensesGrp/ProgramServicesAmt1419128
IRS990/OtherExpensesGrp/ProgramServicesAmt2225557
IRS990/OtherExpensesGrp/TotalAmt0431171
IRS990/OtherExpensesGrp/TotalAmt1419128
IRS990/OtherExpensesGrp/TotalAmt2225557
IRS990/OtherLiabilitiesGrp/BOYAmt0139586665
IRS990/OtherLiabilitiesGrp/EOYAmt0145116613
IRS990/OtherOrganizationDsc0CU
IRS990/OtherRevenueMiscGrp/BusinessCd0522100
IRS990/OtherRevenueMiscGrp/Desc0FEES AND CHARGES
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0542061
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0542061
IRS990/OtherRevenueTotalAmt0709288
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01428056
IRS990/OtherSalariesAndWagesGrp/TotalAmt01428056
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt085949947
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt097959408
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt023311
IRS990/PaymentsToAffiliatesGrp/TotalAmt023311
IRS990/PayrollTaxesGrp/ProgramServicesAmt0135594
IRS990/PayrollTaxesGrp/TotalAmt0135594
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt010421868
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt089991
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt058978
IRS990/PrincipalOfficerNm0JANET BORER
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt03951407
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt03951407
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt0241071
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0815025
IRS990/PYOtherExpensesAmt02236409
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt04684078
IRS990/PYRevenuesLessExpensesAmt0991845
IRS990/PYSalariesCompEmpBnftPaidAmt02029778
IRS990/PYTotalExpensesAmt04507258
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt05499103
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt01039072
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt015753489
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt06370695
IRS990/SavingsAndTempCashInvstGrp/BOYAmt033543694
IRS990/SavingsAndTempCashInvstGrp/EOYAmt028537865
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt01238378
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01471100
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02709478
IRS990ScheduleD/EquipmentGrp/BookValueAmt0131991
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01505585
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01637576
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt05113450
IRS990ScheduleD/LandGrp/BookValueAmt0468018
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0468018
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0145116613
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARES
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt017111818
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt13000000
IRS990ScheduleD/OtherSecuritiesGrp/Desc0HTM CD'S
IRS990ScheduleD/OtherSecuritiesGrp/Desc1OTHER INVESTMENTS
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1C
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt06152522
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION RECOGNIZES ANY UNCERTAIN TAX BENEFITS IF SUCH BENEFITS ARE A RESULT OF A TAX POSITION THAT IS MORE LIKELY THAN NOT SUSTAINABLE UPON EXAMINATION BY FEDERAL OR STATE TAX AUTHORITIES. WHEN AN UNCERTAIN BENEFIT IS DETERMINED TO BE MORE LIKELY THAN NOT SUSTAINED, THE CREDIT UNION VALUES THE POSITION, FOR FINANCIAL STATEMENT PURPOSES, OF THE LARGEST AMOUNT OF THE TAX BENEFIT THAT IS MORE THAN 50% LIKELY OF BEING REALIZED UPON RESOLUTION OF THE BENEFIT. FOR ANY TAX POSITIONS TAKEN THAT DO NOT MEET THE MORE LIKELY THAN NOT CRITERIA, THE CREDIT UNION ESTABLISHES A TAX RESERVE FOR 100% OF THE POSITION TAKEN. FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2017, NO SIGNIFICANT AMOUNTS OR UNRECOGNIZED TAX BENEFITS EXISTED NOR DOES THE CREDIT UNION ANTICIPATE ANY SIGNIFICANT CHANGES IN UNRECOGNIZED TAX BENEFITS TO OCCUR WITHIN THE NEXT TWELVE MONTHS. THE CREDIT UNION FILES TAX RETURNS WITH THE INTERNAL REVENUE SERVICE AND THE STATE OF IOWA.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X LINE 2
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01838387
IRS990ScheduleD/TotalBookValueSecuritiesAmt020111818
IRS990ScheduleD/TotalExpensesPerForm990Amt05113450
IRS990ScheduleD/TotalLiabilityAmt0145116613
IRS990ScheduleD/TotalRevenuePerForm990Amt06152522
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt06152522
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt05113450
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0164609
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount04821
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt012868
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt05853
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JANET BORER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0188151
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0FORM 990 VII, LINE 5 DURING 2017, THE CREDIT UNION USED A MANAGEMENT COMPANY. THEREFORE, THE CREDIT UNION IS NOT PAYING IT'S CEO AND OTHER EMPLOYEES DIRECTLY, RATHER THE CREDIT UNION IS PAYING THESE INDIVIDUALS THROUGH AN INDEPENDENT CONTRACTOR ARRANGEMENT WITH A MANAGEMENT COMPANY NAMED AUREON. THE CREDIT UNION IS CONTRACTED TO PAY AUREON FOR THE CEO AND OTHER EMPLOYEE POSITIONS. THE COMPENSATION INFORMATION ON FORM 990 IS THE AMOUNT OF COMPENSATION THAT AUREON PAID THE CEO AND OTHER EMPLOYEES.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 1A
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DURING 2017, THE CREDIT UNION USED A MANAGEMENT COMPANY. THE CREDIT UNION IS NOT PAYING IT'S CEO AND OTHER EMPLOYEES DIRECTLY, RATHER THE CREDIT UNION IS PAYING THESE INDIVIDUALS THROUGH AN INDEPENDENT CONTRACTOR ARRANGEMENT WITH THE MANAGEMENT COMPANY NAMED AUREON. THE CREDIT UNION IS CONTRACTED TO PAY AUREON FOR THE CEO AND OTHER POSITIONS. THE COMPENSATION INFORMATION ON FORM 990 IS THE AMOUNT OF COMPENSATION THAT THE MANAGEMENT COMPANY PAID THE CEO AND OTHER EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CREDIT UNION HAS ONE CLASS OF MEMBERSHIP COMPRISED OF ALL DEPOSITORS. MEMBERSHIP CONSISTS OF PERSONS WHO LIVE, ATTEND SCHOOL, WORSHIP, OR WORK FOR ANY ENTITY WHICH HAS A PLACE OF BUSINESS IN MARSHALL, STORY, OR BOONE COUNTIES AND THE CONTIGUOUS COUNTIES OF TAMA, GRUNDY, HARDIN, HAMILTON, WEBSTER, GREENE, DALLAS, POLK, JASPER, AND POWESHIEK.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL MEMBERS HAVE ONE VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990 IS REVIEWED BY THE CEO PRIOR TO FILING. A FULL COPY IS GIVEN TO THE BOARD FOR REVIEW AT A REGULAR MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A COPY OF OUR POLICY IS PROVIDED TO EACH OFFICER, DIRECTOR, AND KEY EMPLOYEE. THEY ARE REQUIRED EACH YEAR TO COMPLETE A KEY PERSONNEL QUESTIONNAIRE AND TO DISCLOSE ANY SUCH POTENTIAL OR ACTUAL CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS SETS THE COMPENSATION FOR THE CEO AND THEY APPROVE SALARY RANGES FOR THE OTHER POSITIONS. THE CEO SETS COMPENSATION WITHIN THE CONSTRAINTS OF THE BUDGET AND SALARY RANGES FOR THE OTHER KEY EMPLOYEES. THEY ALSO UTILIZE THE CUNA SALARY SURVEY TO DETERMINE REASONABLENESS FOR ALL POSITIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6FINANCIAL STATEMENTS ARE POSTED AT EACH OFFICE AND ARE ALSO DISTRIBUTED AT THE CREDIT UNION'S ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7ROUNDING 2.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE AUDIT COMMITTEE REVIEWS THE AUDITED FINANCIALS AND DISCUSSES THE AUDIT WITH MANAGEMENT AND VOTES ON RETENTION OF AUDITORS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$162,935,375
Liabilities
$146,142,812
Net assets
$16,792,563
Revenue
$6,152,522
Expenses
$5,113,450
Net income
$1,039,072
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$271$245$25.8$15.9$14.1$1.77
2023Detailed filing. Detailed filing data is available for this year.$261$237$23.7$12.0$10.6$1.37
2022Detailed filing. Detailed filing data is available for this year.$237$215$21.6$8.85$7.57$1.28
2021Detailed filing. Detailed filing data is available for this year.$240$218$21.8$8.09$6.87$1.22
2020Detailed filing. Detailed filing data is available for this year.$227$206$20.8$7.83$6.94$0.90
2019Detailed filing. Detailed filing data is available for this year.$178$158$19.9$7.96$6.51$1.45
2018Detailed filing. Detailed filing data is available for this year.$170$152$18.1$7.23$5.88$1.35
2017Detailed filing. Detailed filing data is available for this year.$163$146$16.8$6.15$5.11$1.04
2016Detailed filing. Detailed filing data is available for this year.$156$141$15.8$5.50$4.51$0.99
2015Detailed filing. Detailed filing data is available for this year.$150$135$14.8$5.51$4.88$0.64
2014Detailed filing. Detailed filing data is available for this year.$145$131$14.1$4.25$4.09$0.16
2013Detailed filing. Detailed filing data is available for this year.$145$132$14.0$4.27$4.11$0.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$146$132$13.8$4.43
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$140$126$13.4$5.13