2025-11-06T10:30:16-06:00 2024-12-31 420714325 RSM US LLP 4650 EAST 53RD STREET DAVENPORT IA 528073479 990 2024-01-01 362523206 IH MISSISSIPPI VALLEY CREDIT UNION IHMI 3097936200 2500 RIVER DRIVE MOLINE IL 61265 DARLENE M REED VP TREASURER 3097936200 2025-11-05 1 0 JENIFER L CHASE P01306883 5638884000 2025-11-05 2024 2025-03-06 01:10:19Z ALLAN HOSACK 2500 RIVER DRIVE MOLINE IL 61265 176799967 0 X WWW.IHMVCU.ORG X 1934 IL PROVIDE CONSUMER, MORTGAGE, AND BUSINESS LOANS AND DEPOSIT SERVICES TO OVER 147,116 MEMBERS 9 9 524 336 1366692 330027 0 0 121963365 139062444 9113202 18895176 212129 216939 131288696 158174559 288828 307173 0 0 36745555 37000030 0 0 0 84459830 108448147 121494213 145755350 9794483 12419209 2139207809 2152316383 1963966323 1964019715 175241486 188296668 IH MISSISSIPPI VALLEY CREDIT UNION IS A MEMBER OWNED COOPERATIVE DEDICATED TO HELPING OUR MEMBERS, OUR TEAM MEMBERS, AND OUR COMMUNITIES ALONG THEIR FINANCIAL PATH. 0 0 PROVIDE CONSIDERABLE CONSUMER, BUSINESS AND REAL ESTATE LOANS TO MEMBERS PROVIDE DEPOSITORY ACCOUNTS TO APPROXIMATELY 147,116 MEMBERS. 0 0 1 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 42608 0 1 524 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 0 1 1 1 1 0 X ALLAN HOSACK 3097936200 2500 RIVER DRIVE MOLINE IL 61265 KRISTIN BERRY VICE CHAIRPERSON 2.00 X X 2915 0 0 JEFF CARR DIRECTOR 2.00 X 8709 0 0 TIM CONSIDINE DIRECTOR 2.00 X 6602 0 0 MEGAN EARLY DIRECTOR 2.00 X 0 0 0 THOMAS CHIP IRWIN BOARD SECRETARY/TREASURER 2.00 X X 5402 0 0 SAM KUPRESIN BOARD CHAIRMAN 2.00 X X 6846 0 0 MATT MENDANHALL DIRECTOR 2.00 X 0 0 0 THOMAS TERRONEZ DIRECTOR 2.00 X 0 0 0 LARRY WIEMERS DIRECTOR 2.00 X 0 0 0 BRIAN LAUFENBERG PRESIDENT/CEO 40.00 X 746529 0 45195 ALLAN HOSACK CHIEF FINANCIAL OFFICER 40.00 X 443417 0 44893 ANN MCMILLIAN CHIEF OPERATING OFFICER 40.00 X 436894 0 44458 LISA MILANO CHIEF RISK MANAGEMENT OFFICER 40.00 X 436702 0 44458 JULIE STICKNEY CHIEF RESOURCE OFFICER 40.00 X 390289 0 42439 ROBERT ROSEMAN VP INDIRECT BUSINESS DEVELOPMENT 40.00 X 351816 0 30779 AJAY SINGH SVP, LENDING 40.00 X 290548 0 38027 LINDSEY RAMOS SVP, MEMBER EXPERIENCE 40.00 X 231574 0 35255 DANIELLE SONS SVP, FINANCE 40.00 X 236590 0 35645 JUSTIN JOHNSON SVP, SALES AND MARKETING 40.00 X 240010 0 35550 3834843 0 396699 54 0 1 0 FOCUSONE NOW LLC 9601 JONES ROAD STE 108 HOUSTON TX 77065 BUSINESS SYSTEMS 684419 ALACRITI PAYMENTS LLC 100 SOMERSET CORPORATE BLVD 2ND FL BRIDGEWATER NJ 08807 PROCESSING FEES 490580 HEARTLAND BUSINESS SYSTEMS 1700 STEPHEN STREET LITTLE CHUTE WI 54140 BUSINESS SYSTEMS 422391 HURRICANE LABS LLC 3401 ENTERPRISE PL STE 105 BEACHWOOD OH 44122 CYBERSECURITY 395996 TTEC DIGITAL LLC 100 CONGRESS AVE STE 1425 AUSTIN TX 78701 CLOUD PHONE SERVICES 251418 23 INTEREST ON LOANS 522100 105849888 105849888 FEE INCOME 522100 28334623 28334623 INSURANCE COMMISSIONS 524298 2677707 1556202 1121505 OTHER PROGRAM SERVICE REVENUE 522100 1884539 1884539 ATM SURCHARGE FEES 522100 245187 245187 70500 70500 139062444 11327584 11327584 216939 0 216939 216939 216939 10895000 15298000 4157513 14467895 6737487 830105 7567592 7567592 158174559 137695752 1366692 19112115 278173 29000 2675276 26487650 1848717 3775903 2212484 206588 415136 1682394 2413529 4660888 7825317 2365948 615566 2714995 3497373 INCOME TAX EXPENSE 92237 DIVIDENDS PAID TO MEMBE 46109439 PROVISION FOR LOAN LOSS 24179630 VISA CARD EXPENSES 6329683 5339424 145755350 178922687 79215897 19009538 28786445 17371308 17371308 1664539890 1749677043 6322230 6848064 80584921 26398964 56637186 54185957 142979801 164259337 28229645 26829746 1829267 1734667 23366257 23407919 2139207809 2152316383 26419845 17857931 43620 41216 122000000 42000000 1815502858 1904120568 1963966323 1964019715 X 0 0 0 0 175241486 188296668 175241486 188296668 2139207809 2152316383 12419209 635973 0 X X 0 1 X 1 0 15000 0 0 15000 15000 1 CREDIT UNION PAC 1807 W DIEHL ROAD PO BOX 3107 NAPERVILLE IL 605667107 361255150 15000 0 PART I-A, LINE 1: IH MISSISSIPPI VALLEY CREDIT UNION MADE A $15,000 POLITICAL ACTION COMMITTEE CONTRIBUTION TO THE CREDIT UNION POLITICAL ACTION COMMITTEE (CUPAC) TO SUPPORT CREDIT UNION ISSUES. 0 1 X 12670587 12670587 48850275 14597668 34252607 18867911 11801296 7066615 196148 196148 54185957 MEMBER SHARES AND CERTIFICATES 1900139848 OUTSTANDING CHECKS 3980720 1904120568 X PART IV, LINE 2B: IH MISSISSIPPI VALLEY CREDIT UNION HOLDS ESCROW ACCOUNTS FOR ITS MEMBERS IN WHICH IT PAYS FOR ITEMS LIKE PRIVATE MORTGAGE INSURANCE, REAL ESTATE TAXES, AND HOMEOWNERS INSURANCE. PART X, LINE 2: IH MISSISSIPPI VALLEY CREDIT UNION (THE CREDIT UNION) IS EXEMPT, UNDER INTERNAL REVENUE CODE 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES, AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S CONSOLIDATED FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2024 AND 2023. THE CREDIT UNION'S 2021 THROUGH 2023 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. THE INCOME FROM THE CUSO, ORGANIZED AS AN LLC, FLOWS THROUGH TO THE CREDIT UNION, AND THEREFORE, IS NOT SUBJECT TO FEDERAL AND STATE INCOME TAXES OTHER THAN UNRELATED BUSINESS INCOME TAX. 1 CREDIT UNION NATIONAL ASSOCIATION 4703 MADISON YARDS WAY SUITE 300 MADISON WI 53705 237065623 501(C)(6) 15000 0 CORPORATE DONATION ILLINOIS CREDIT UNION LEAGUE 1807 W DIEHL ROAD NAPERVILLE IL 60563 363304223 501(C)(6) 21000 0 CORPORATE DONATION BOYS AND GIRLS CLUBS OF THE MISSISSIPPI VALLEY INC 1122 5TH AVE MOLINE IL 61265 363838421 501(C)(3) 12500 0 CORPORATE DONATION QUAD CITY VETERAN OUTREACH 4515 N FAIRMOUNT STREET DAVENPORT IA 52803 183541588 501(C)(3) 25250 0 CORPORATE DONATION RIVER BEND FOOD BANK 4010 KIMMEL DR DAVENPORT IA 52802 363147342 501(C)(3) 15000 0 CORPORATE DONATION DAVENPORT COMMUNITY SCHOOL DISTRICT 1702 N MAIN ST DAVENPORT IA 52803 426001350 CITY OF DAVENPORT 9050 0 CORPORATE DONATION YWCA 513 17TH ST ROCK ISLAND IL 61201 362171176 501(C)(3) 8000 0 CORPORATE DONATION YMCA OF THE IOWA MISSISSIPPI VALLEY 630 E 4TH ST DAVENPORT IA 52801 420703278 501(C)(3) 5500 0 CORPORATE DONATION 6 2 STUDENT SCHOLARSHIPS 12 29000 PART I, LINE 2: IH MISSISSIPPI VALLEY CREDIT UNION (THE CREDIT UNION) PROVIDES GRANTS TO ORGANIZATIONS THAT THEY KNOW AND TRUST AND VET ORGANIZATIONS THAT THEY ARE NOT FAMILIAR WITH. THE FUNDS ARE USED AT THE RECIPIENT ORGANIZATIONS' DISCRETION. THIS INCLUDES THE RECIPIENTS OF THE FHLB ACCELERATE GRANTS DURING THE YEAR. THE CREDIT UNION PAYS ALL STUDENT SCHOLARSHIPS DIRECTLY TO THE SCHOOL OF THE STUDENT'S CHOICE. X X 1 1 X X X X 0 0 0 BRIAN LAUFENBERG PRESIDENT/CEO 538343 0 166158 0 42028 0 24150 0 21045 0 791724 0 0 0 ALLAN HOSACK CHIEF FINANCIAL OFFICER 336182 0 86831 0 20404 0 24150 0 20743 0 488310 0 0 0 ANN MCMILLIAN CHIEF OPERATING OFFICER 323742 0 86831 0 26321 0 24150 0 20308 0 481352 0 0 0 LISA MILANO CHIEF RISK MANAGEMENT OFFICER 322793 0 86831 0 27078 0 24150 0 20308 0 481160 0 0 0 JULIE STICKNEY CHIEF RESOURCE OFFICER 300188 0 73109 0 16992 0 21922 0 20517 0 432728 0 0 0 ROBERT ROSEMAN VP INDIRECT BUSINESS DEVELOPMENT 136509 0 214754 0 553 0 10306 0 20473 0 382595 0 0 0 AJAY SINGH SVP, LENDING 225073 0 57108 0 8367 0 17150 0 20877 0 328575 0 0 0 JUSTIN JOHNSON SVP, SALES AND MARKETING 187888 0 37108 0 15014 0 14323 0 21227 0 275560 0 0 0 DANIELLE SONS SVP, FINANCE 196122 0 40108 0 360 0 14618 0 21027 0 272235 0 0 0 LINDSEY RAMOS SVP, MEMBER EXPERIENCE 191486 0 36208 0 3880 0 14317 0 20938 0 266829 0 0 0 PART I, LINE 1A IN TAX YEAR 2024, IH MISSISSIPPI VALLEY CREDIT UNION (THE CREDIT UNION) INCURRED GOLF MEMBERSHIP DUES FOR LISA MILANO, BRIAN LAUFENBERG, ANN MCMILLAN, AJAY SINGH, AND JUSTIN JOHNSON. THE AMOUNTS ARE INCLUDED IN REPORTABLE COMPENSATION IN PART VII AND SCHEDULE J. IN TAX YEAR 2024, THE CREDIT UNION REIMBURSED CERTAIN TRAVEL EXPENSES FOR THE COMPANIONS OF BRIAN LAUFENBERG, TIM CONSIDINE, SAM KUPRESIN, CHIP IRWIN, AND KRISTIN BERRY. THE AMOUNTS ARE INCLUDED IN REPORTABLE COMPENSATION IN PART VII AND SCHEDULE J. BRIAN LAUFENBERG OFFICER COLLATERAL ASSIGNED SPLIT-DOLLAR LIFE INSURANCE POLICY X 10960000 11702815 0 1 1 ANN MCMILLIAN KEY EMPLOYEE COLLATERAL ASSIGNED SPLIT-DOLLAR LIFE INSURANCE POLICY X 1680000 1966855 0 1 1 LISA MILANO KEY EMPLOYEE COLLATERAL ASSIGNED SPLIT-DOLLAR LIFE INSURANCE POLICY X 1003363 1171461 0 1 1 ALLAN HOSACK OFFICER COLLATERAL ASSIGNED SPLIT-DOLLAR LIFE INSURANCE POLICY X 2277784 2530177 0 1 1 17371308 FORM 990, PART VI, SECTION A, LINE 6 IH MISSISSIPPI VALLEY CREDIT UNION HAS MEMBERS AS SPECIFIED BY ITS BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A IH MISSISSIPPI VALLEY CREDIT UNION MEMBERS HAVE THE POWER TO ELECT THE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B IH MISSISSIPPI VALLEY CREDIT UNION MEMBERS HAVE THE POWER TO APPOINT AND REMOVE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE TAX RETURN PREPARER PROVIDED A COPY OF THE FINAL VERSION OF FORM 990 TO THE CHIEF FINANCIAL OFFICER BEFORE IT WAS FILED. THE CFO, ALLAN HOSACK, REVIEWED THE FORM 990 BEFORE IT WAS FILED. THE FORM 990 IS THEN PROVIDED TO THE BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE MEMBERS OF IH MISSISSIPPI VALLEY CREDIT UNION FOR REVIEW PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE PRESIDENT AND OTHER KEY EMPLOYEE'S COMPENSATION BASED UPON COMPARATIVE MARKET RESEARCH AND SALARY INFORMATION. THE COMPENSATION OF THE OTHER HIGH LEVEL OFFICERS AND KEY EMPLOYEES IS BASED UPON COMPENSATION SURVEYS. AN OUTSIDE CONSULTING FIRM PRESENTS ALL DATA AND LEADS THE CONVERSATION DURING THE COMPENSATION COMMITTEE MEETING. ONCE THE COMPENSATION IS DETERMINED, THE DECISIONS ARE CONTEMPORANEOUSLY DOCUMENTED IN BOARD MINUTES AND BY THE CONSULTING FIRM. THE COMPENSATION MEETINGS ARE HELD IN DECEMBER OF EACH YEAR, FOR CHANGES TO BE EFFECTIVE IN THE FOLLOWING JANUARY. THIS PROCESS LAST OCCURRED IN DECEMBER 2024. FORM 990, PART VI, SECTION C, LINE 19 IH MISSISSIPPI VALLEY CREDIT UNION MAKES ITS GOVERNING DOCUMENTS AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST IN THE SAME TIME AND MANNER AS OTHER DISCLOSURES REQUIRED UNDER INTERNAL REVENUE CODE SECTION 6104(D). FORM 990, PART XII, LINE 2C: THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED SINCE THE PRIOR TAX YEAR. MEMBERS FINANCIAL LLC 2500 RIVER DRIVE MOLINE IL 61265 320091317 HOLDING COMPANY IL 2100 3893903 IH MISSISSIPPI VALLEY CREDIT UNION MEMBERS PROPERTY MANAGEMENT LLC 2500 RIVER DRIVE MOLINE IL 61265 260224070 PROPERTY MANAGEMENT IL 282975 2798854 MEMBERS FINANCIAL LLC MEMBERS INSURANCE SERVICES LLC 2500 RIVER DRIVE MOLINE IL 61265 320091314 INSURANCE IL 1051005 1049074 MEMBERS FINANCIAL LLC MEMBERS AUTO SOLUTIONS 2500 RIVER DRIVE MOLINE IL 61265 854085855 AUTO SOLUTIONS IL 1395364 148546 MEMBERS FINANCIAL LLC