2024-06-04T11:59:52-07:00 2023-12-31 990 2023-01-01 366066647 MEMBERSALLIANCE CREDIT UNION MEMB 8152262260 2550 S Alpine Rockford IL 61108 Cheryl Sio President 8152263271 2024-05-27 Cheryl Sio 999009999 1 1 11 0 AAL2 2023 2023-04-26 12:10:37Z X Cheryl A Sio 2591 Hickory Ave Rockford IL 61114 12642558 0 X www.membersalliance.org X Cooperative 1938 IL Provide financial products and services for members 8 7 100 7 0 0 0 0 10558037 10976715 1093219 1665843 0 0 11651256 12642558 0 0 0 0 5289725 5359837 0 0 0 4642138 6223712 9931863 11583549 1719393 1059009 272214856 284454101 253733113 264322494 18481743 20131607 To be the leader in our community in providing financial products, exceptional service, and financial education. 0 0 Consumer, real estate and home equity loans to members at competitive interest rates. There were 21,256 members and 12,338 loans totaling $173 million as of 12/31/23 Provided various deposit accounts to members at competitive interest rates. Deposit accounts of members totaled $258 million as of 12/31/23. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 4290 0 100 1 0 0 0 0 0 0 0 0 X 8 7 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X Cheryl A Sio 8152263271 2550 S Alpine Rockford IL 61108 Cheryl Sio President 40 0 X 179812 0 29278 Lisa Keller Chief Operating Officer 40 0 X 127454 0 45179 Christine Erickson Vice President of Lending 40 0 X 162498 0 1461 Kelly Froeliger Vice President of Finance 40 0 X 106609 0 33802 Matthew Lynch VP of Branding and Development 40 0 X 103277 0 15340 Greg Hopkins Board Chairman 4 0 X 0 0 0 Chris Anderson Board Member 1 0 X 0 0 0 Susan Campbell Board Member 1 0 X 0 0 0 Mary Maxted Supervisory Committee Chair 2 0 X 0 0 0 Steven Naff Board Secratary 1 0 X 0 0 0 Keith Eden Board Member 1 0 X 0 0 0 Michael Youngblood Board Member 1 0 X 0 0 0 679650 0 125060 5 0 1 0 0 Interest From Loans 522130 6363789 6363789 0 0 Credit and debit card income 522100 2105256 2105256 0 0 Credit card interest income 522100 879860 879860 0 0 Fee Income 522130 1329426 1329426 0 0 Group insurance income 524298 87831 87831 0 0 210553 210553 0 0 10976715 1691098 1691098 0 0 0 0 0 0 0 0 0 0 0 0 0 -25255 0 0 0 -25255 -25255 -25255 0 0 0 12642558 12642558 0 0 0 0 0 0 679650 0 3445899 263346 633206 337736 0 40996 53394 0 0 0 350719 314493 241889 653205 0 598947 3060 0 0 59946 26440 263875 78557 Service and Product Expenses 1653952 Provision for Loss Allowance 196789 Divends paid on deposits 1437510 Visa Reward Points 183336 66604 11583549 0 0 0 4445068 4229121 6086339 11714062 0 513980 612347 0 0 0 0 168435933 172746657 0 0 411463 488597 9545089 5134367 2822154 4410722 22169253 22981568 58421800 58347676 0 0 0 0 8908866 8923351 272214856 284454101 4045317 6193710 0 0 0 0 0 0 0 0 0 0 0 0 0 0 249687796 258128784 253733113 264322494 X 0 0 0 0 18481743 20131607 18481743 20131607 272214856 284454101 X 1059009 812314 0 0 0 -221459 X 0 1 X 1 0 0 1226556 1226556 0 5826334 2747010 3079324 0 634628 623078 11550 0 1295597 1220151 75446 0 561974 544128 17846 4410722 Certificates of Deposit 57777172 F Capital in Corporate Credit Union 304204 F FHLB Membership Capital Stock 266300 F 58347676 0 Member Deposits 258128784 258128784 12642558 0 0 0 0 0 12642558 0 0 0 12642558 11583549 0 0 0 0 0 11583549 0 0 0 11583549 X 0 1 0 Cheryl Sio President 179812 0 0 0 16246 0 13032 0 0 0 209090 0 231880 0 Lisa Keller Chief Operating Officer 127454 0 0 0 16301 0 28878 0 0 0 172633 0 175514 0 Christine Erickson Vice President of Lending 25806 0 0 0 148 0 138005 0 0 0 163959 0 166853 0 Schedule J, Part I, Line 3 The President's salary is determined by the board chairman, using the same third-party source used to determine all staff salary ranges, performance against established and reviewed goals and objectives, and the Wage and Salary committee's overall merit percentage established for determining the annual salary budget. Schedule J, Part I, Line 4 Christine Erickson retired in 2023. She received a payout from a 457(f) supplemental defined benefit plan. Form 990, Header, Line B The initial return had an error in the column placement on Schedule J. There was an item in the Non-taxable column that belongs in Other Compensation. Form 990, Part VI, Section A, Line 6 Depositors are considered members. Form 990, Part VI, Section A, Line 7a Members have the right to vote for the board of directors. Members are asked to assign their votes via proxy to the board of directors. Form 990, Part VI, Section A, Line 7b Members vote for the board of directors via proxy. Form 990, Part VI, Section B, Line 11b The 990 is prepared by the president. Board members are notified when the filing is complete and are able to access it on the board portal. The board does not require review prior to submission. Form 990, Part VI, Section B, Line 12c Policies are frequently updated, requiring board approval. Each year at the annual organizational meeting the board approves the policy manual as a whole. The policy manual is always available on the board portal. Form 990, Part VI, Section B, Line 15 The President's salary is determined by the board chairman, using the same third party sourced used to determine all staff and executive salary ranges, performance against established and reviewed goals and objectives, and the Wage and Salary Committee's overall merit percentage established for determining the annual salary budget. Form 990, Part VI, Section C, Line 19 Financial Statements are posted in lobbies of all locations. Conflict of Interest and other governing documents are available upon request. Form 990, Part XI, Line 9 CECL Adoption one time transfer = (736,271); Acquired Equity from merger = $514,812