2024-05-03T12:32:00-04:00 2023-12-31 470749138 PETERSEN & ASSOCIATES 506 E GOLD COAST RD STE 100 PAPILLION NE 680464790 990 2023-01-01 420173285 LINN AREA CREDIT UNION LINN 3193780101 3015 BLAIRSFERRY RD NE CEDAR RAPIDS IA 52402 PAULA O'ROURKE PRESIDENT/CEO 3193780101 2024-04-26 true PAULA OROURKE 999009999 false STEVEN O PETERSEN P01562177 4023332800 2024-05-03 2023 2023-04-26 12:10:37Z PAULA O'ROURKE 3015 BLAIRSFERRY RD NE CEDAR RAPIDS IA 52402 35995167 false X WWW.LINNAREACU.ORG X 1935 IA STATE CHARTERED CREDIT UNION 9 9 137 12 0 0 27895924 33769310 858568 2225857 0 28754492 35995167 0 0 8872063 8537607 0 0 13913092 20777194 22785155 29314801 5969337 6680366 621025958 667141652 561281724 601689836 59744234 65451816 X STATE CHARTERED CREDIT UNION false false N/A N/A false false false false false false false false false true false false false true false true false false false false false false false false false false false false true false true false false false false false false false false false false false false true 13845 0 137 true false false false false false false false false X 9 9 false false false false true true true true true false false false true true true true true true true false IA X PAULA O'ROURKE 3193780101 3015 BLAIRSFERRY RD NE CEDAR RAPIDS IA 52402 X PAULA O'ROURKE PRESIDENT/CE 40.00 X 473312 0 47751 DANIEL LIMBERT CHIEF MEMBER 40.00 X 211524 0 29087 MATTHEW BAILEY CHIEF RISK O 40.00 X 186551 0 35622 COREY SANBORN-POTTER CHIEF BUS DV X 192429 0 22361 DEBRA SALZ-STEENBLOCK VP HUMAN RES 40.00 X 175489 0 17502 BLAKE RODEMEYER DIR OF INFO 40.00 X 126795 0 27603 TIMOTHY LARSON DIR OF MORTG 40.00 X 125856 0 26121 KYE MURPHY DIR OF COMM 40.00 X 120311 0 23038 TRACY TAYLOR SR VP OF LEN X 127314 0 0 JOHN HAGEMANN UNDRWRITING X 107028 0 17522 JOAN AUTERMAN BOARD MEMBER 1.00 X 0 0 0 PHIL DECKER BOARD MEMBER 1.00 X 0 0 0 MARGARET EICHORN BOARD MEMBER 1.00 X 0 0 0 JOYCE FOWLER BOARD MEMBER 1.00 X 0 0 0 MIKE GILLEN BOARD MEMBER 1.00 X 0 0 0 ANGELA GLICK-MARTIN BOARD MEMBER 1.00 X 0 0 0 LOREN HARTELT BOARD MEMBER 1.00 X 0 0 0 RICHARD ORTEGA BOARD MEMBER 1.00 X 0 0 0 NICHOLAS WAGNER BOARD MEMBER 1.00 X 0 0 0 JERALYN WESTERCAMP BOARD MEMBER 1.00 X 0 0 0 1846609 246607 10 true true false INTEREST ON LOANS 27861314 27861314 MISCELLANEOUS INCOME 3730699 3730699 FEE INCOME 2177297 2177297 33769310 2225857 2225857 35995167 35995167 1176837 5478671 390916 988256 502927 7555 37904 730739 1932745 950412 211471 3631429 1086736 98378 DIVIDEND EXPENSE 7878879 LOAN SERVICING 1740849 DATA PROCESSING 920299 CREDIT CARD PROCESSING 334042 1215756 29314801 0 0 0 7784072 7498433 27220381 24621407 78196 876945 6644010 6615761 528481699 571059324 3271251 5433799 23585770 10257713 13426358 13328057 14456176 15828225 19663815 21879701 621025958 667141652 5079604 5450590 83705000 89395000 472497120 506844246 561281724 601689836 X 19405346 22048103 40338888 43403713 59744234 65451816 621025958 667141652 X 6680366 -972784 X false true X true false 3539444 3539444 13735700 5430932 8304768 6310626 4826781 1483845 13328057 MEMBER DEPOSITS 494951246 NON-MEMBER DEPOSITS 11893000 506844246 35995167 35995167 35995167 29314801 29314801 29314801 false false false PAULA O'ROURKE PRESIDENT/CEO 392747 70475 10090 33000 14751 521063 DANIEL LIMBERT CHIEF MEMBER EXPERIE 179824 31095 605 16847 12240 240611 MATTHEW BAILEY CHIEF RISK OFFICER 156000 26466 4085 18655 16967 222173 COREY SANBORN-POTTER CHIEF BUS DVLP OFF 146531 32119 13779 8908 13453 214790 DEBRA SALZ-STEENBLOCK VP HUMAN RESOURCES 146293 29196 16834 668 192991 BLAKE RODEMEYER DIR OF INFO SERVICES 110000 15622 1173 12680 14923 154398 TIMOTHY LARSON DIR OF MORTGAGE LEND 110087 12959 2810 7490 18631 151977 TRACY TAYLOR SR VP OF LENDING 20276 19956 87082 127314 PAULA O'ROURKE PRESIDENT/ CEO SPLIT DOLLAR LIFE INSURANCE X 600000 2167105 false true true JENNIFER LORENZ FORMER PRESIDENT/CEO SPLIT DOLLAR LIFE INSURANCE X 1950000 1815902 false true true DAN LIMBERT CHIEF MEMBER EXPERIE SPLIT DOLLAR LIFE INSURANCE X 450000 896589 false true true DEBRA SALZ-STEENBLOCK CHIEF TALENT OFF SPLIT DOLLAR LIFE INSURANCE X 285000 797678 false true true TRACY TAYLOR FORMER SVP LENDING SPLIT DOLLAR LIFE INSURANCE X 567000 555449 false true true RICHARD HEAD FORMER VP IT SPLIT DOLLAR LIFE INSURANCE X 390000 383038 false true true 6615761 FORM 990, PAGE 2, PART III, LINE 4D N/A FORM 990, PAGE 6, PART VI, LINE 6 ALL DEPOSITORS ARE CONSIDERED MEMBERS. FORM 990, PAGE 6, PART VI, LINE 7A THE CREDIT UNION MEMBERS ELECT ON AN ANNUAL BASIS THE MEMBERS OF THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 7B ANY PROPOSED MERGERS MUST BE APPROVED BY A MAJORITY OF THE MEMBERSHIP. FORM 990, PAGE 6, PART VI, LINE 11B NO REVIEW WAS OR WILL BE CONDUCTED. FORM 990, PAGE 6, PART VI, LINE 12C THE SECURITY MATRIX ON THE DATA PROCESSING SYSTEM PROHIBITS EMPLOYEES AND DIRECTORS FROM INITIATING TRANSACTIONS ON ALL ACCOUNTS LISTED ON THEIR CONFLICT OF INTEREST DISCLOSURE STATEMENT, WHICH IS UPDATED ANNUALLY. FORM 990, PAGE 6, PART VI, LINE 15A THE PROCESS FOR DETERMINING COMPENSATION FOR THE CEO INCLUDES A COMPARISON OF COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN COMPARABLE POSITIONS, REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS AND IS DOCUMENTED IN THE BOARD MINUTES. THE LAST REVIEW WAS CONDUCTED IN DECEMBER 20223 FORM 990, PAGE 6, PART VI, LINE 15B THE PROCESS FOR DETERMINING COMPENSATION FOR THE KEY EMPLOYEES INCLUDES A COMPARISON OF COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN COMPARABLE POSITIONS, REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS AND IS DOCUMENTED IN THE BOARD MINUTES. THE LAST REVIEW WAS CONDUCTED IN DECEMBER 2023. FORM 990, PAGE 6, PART VI, LINE 19 THE MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY AND ARE UPDATED ON A MONTHLY BASIS. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9 NET CHANGE IN INVESTMENT VALUATION RESERVE 123,696 CECL ADJUSTMENT -1,096,480 TOTAL -972,784