Credit Union Trust

“The trust has an administrative services agreement with icul services corporation to provide the trust and its members client support services, marketing support, and administrative support.”

“The cucare welfare benefit plan trust (the "trust") and the cucare welfare benefit plan were established in 2013 by the indiana credit union league, inc. (icul) and the board of trustees to provide health and other benefits covering all eligible employees of participating credit unions located in the state of indiana (employers). Effective january 1, 2018, the icul transferred its settlor powers in the cucare welfare benefit plan trust to the newly created credit union consortium (the "consortium"). All assets of the cucare welfare benefit plan trust continue to be used for the purposes set forth in the trust agreement. The cucare welfare benefit plan was terminated effective december 31, 2017. In accordance with the cucare welfare benefit plan termination documentation, the trust was obligated to pay claims with respect to the cucare welfare benefit plan for eligible expenses incurred prior to january 1, 2018. A new plan, the credit union consortium health plan, was formed effective january 1, 2018 by the credit union consortium. Effective january 1, 2019, the cucare welfare benefit plan trust changed its name to the credit union trust. In addition, during 2019, the plan was approved to transact business as a multi employer welfare arrangement in the commonwealth of kentucky.”

“The organization engages an outside accounting firm to prepare the form 990. The form 990 is reviewed by the organization's president.”

“Upon request, public documents may be viewed at the organization's office.”

“There were no audited financial statements for the trust, however, there was a separate plan audit during 2024 for the credit union consortium health plan.”