Skip to content
Nonprofiteer
← ALLIANT CREDIT UNION

Form 990 for tax year 2023

Filed by ALLIANT CREDIT UNION.

Totals

Total revenue
$1,150,050,242
Total expenses
$1,066,312,504
Contributions and grants received
$0
Grants paid
$16,000
Program service revenue
$1,066,632,888
Investment income
$81,650,769
Other revenue
$1,766,585
Total assets, end of year
$18,473,232,789
Total liabilities, end of year
$17,179,375,007
Net assets or fund balances, end of year
$1,293,857,782
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$0

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: Loan Interest Income

    total $1,025,259,433 · related or exempt $1,025,259,433

  • 2b · Program service revenue: Service Fees

    total $5,457,122 · related or exempt $5,457,122

  • 2c · Program service revenue: Investment Services

    total $4,697,763 · related or exempt $4,697,763

  • 2d · Program service revenue: Interchange Income

    total $7,291,376 · related or exempt $7,291,376

  • 2e · Program service revenue: Insurance Income

    total $1,728,398 · related or exempt $853,060 · unrelated business $875,338

  • 2f · All other program service revenue

    total $22,198,796 · related or exempt $22,198,796 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $67,463,124 · related or exempt $67,464,887 · unrelated business -$1,763

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    other assets $713,856,369

  • 7b · Less cost or other basis and sales expenses

    other assets $699,668,724

  • 7c · Gain or loss

    securities $0 · other assets $14,187,645

  • 7d · Net gain or loss

    total $14,187,645 · related or exempt $14,187,645

  • 11a · Other revenue: Misc Income

    total $1,766,585 · related or exempt $1,766,585

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $1,766,585

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $16,000

  • 5 · Compensation of officers, directors and key employees

    total $5,162,623

  • 7 · Other salaries and wages

    total $105,086,863

  • 8 · Pension plan contributions

    total $8,833,225

  • 9 · Other employee benefits

    total $1,418,929

  • 10 · Payroll taxes

    total $13,880,701

  • 11b · Fees: legal

    total $925,454

  • 11c · Fees: accounting

    total $466,728

  • 11g · Fees: other

    total $7,316,483

  • 12 · Advertising and promotion

    total $17,583,763

  • 13 · Office expenses

    total $5,422,444

  • 14 · Information technology

    total $20,525,708

  • 16 · Occupancy

    total $1,531,544

  • 17 · Travel

    total $882,517

  • 19 · Conferences, conventions and meetings

    total $353,272

  • 20 · Interest

    total $667,775,725

  • 22 · Depreciation, depletion and amortization

    total $10,393,570

  • 23 · Insurance

    total $497,224

  • 24a · Other expenses: Provision for Loan Loss

    total $170,164,199

  • 24b · Other expenses: Mortgage Servicing Fees

    total $7,081,930

  • 24c · Other expenses: Credit Card Servicing Fees

    total $3,288,204

  • 24d · Other expenses: ATM Servicing Fees

    total $4,059,705

  • 24e · All other expenses

    total $13,645,693

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $362,321,470 · end of year $219,935,517

  • 3 · Pledges and grants receivable

    beginning of year $0

  • 4 · Accounts receivable

    beginning of year $85,039,623 · end of year $96,705,439

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $14,880,065,202 · end of year $14,840,284,106

  • 8 · Inventories for sale or use

    beginning of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $11,375,986 · end of year $12,519,526

  • 10a · Land, buildings and equipment: cost or other basis

    $156,457,177

  • 10b · Land, buildings and equipment: accumulated depreciation

    $132,172,588

  • 10c · Land, buildings and equipment, net

    beginning of year $25,969,108 · end of year $24,284,589

  • 11 · Investments: publicly traded securities

    beginning of year $2,355,755,323 · end of year $2,507,573,072

  • 12 · Investments: other securities

    beginning of year $502,500 · end of year $502,500

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $1,017,979,271 · end of year $771,428,040

  • 17 · Accounts payable and accrued expenses

    beginning of year $116,210,540 · end of year $143,086,470

  • 19 · Deferred revenue

    beginning of year $370,522 · end of year $1,932,498

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $17,175,886,936 · end of year $17,034,356,039

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,446,540,485 · end of year $1,293,857,782

Mission and programs · 2023

Mission

ALLIANT CREDIT UNION OPERATES TO BENEFIT MEMBERS. ALLIANT CREDIT UNION OPERATES WITHOUT PROFIT FOR MUTUAL PURPOSE. WE STRIVE TO BENEFIT OUR MEMBERS THROUGH HIGHER DIVIDENDS ON SAVINGS AND LOWER LOAN RATES.

Activities or mission (Part I)

WE OPERATE TO BENEFIT MEMBERS. WE OPERATE WITHOUT PROFIT FOR MUTUAL PURPOSE. WE STRIVE TO BENEFIT OUR MEMBERS THROUGH HIGHER DIVIDENDS ON SAVINGS AND LOWER LOAN RATES.

  • LENDING SERVICES - WE OFFER VARIOUS CREDIT SOLUTIONS AT REASONABLE RATES OF INTEREST INCLUDING 1ST AND 2ND MORTGAGE, CONSUMER LOANS, CREDIT CARDS, PERSONAL LOANS AND BUSINESS LOANS.

  • DEPOSIT PRODUCTS - WE OFFER NUMEROUS DEPOSIT PRODUCTS AT A HIGHER THAN AVERAGE INTEREST RATE INCLUDING CHECKING, SAVINGS, CERTIFICATE OF DEPOSITS, AND CUSTODIAL ACCOUNTS.

  • INVESTMENT SERVICES - FULL SERVICE FINANCIAL ADVISORY PROGRAM OFFERING MEMBERS RETIREMENT, INSURANCE, AND INVESTMENT SERVICES.

As filed on the 2023 return.

Listed in Part VII

  • Dennis Devine

    Executive Director/CEO

    Total calculated
    $3,152,743
    From this org
    $3,117,129
    From related orgs
    $0
    Other
    $35,614
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $896,563
    Bonus
    $2,208,875
    Other
    $11,691
    Deferred
    $27,750
    Nontaxable benefits
    $7,864
    Filer's total
    $3,152,743

  • Ajibola Johnson

    Board Member

    Total calculated
    $48,750
    From this org
    $48,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • David Leib

    Chairperson

    Total calculated
    $65,417
    From this org
    $65,417
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Deepak Khandelwal (Start 022023)

    Board Member

    Total calculated
    $33,333
    From this org
    $33,333
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Irwin Gzesh

    Chairperson of Supervisory Committee

    Total calculated
    $58,750
    From this org
    $58,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Julian Chu

    Chairperson, Compensation & Talent, Board Secretary

    Total calculated
    $58,750
    From this org
    $58,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Kenton Chow

    Board Member

    Total calculated
    $48,750
    From this org
    $48,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Lee Achord

    Vice Chairperson

    Total calculated
    $58,750
    From this org
    $58,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Sabrina King

    Board Member

    Total calculated
    $55,417
    From this org
    $55,417
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Scott Wilson (End 022023)

    Board Member

    Total calculated
    $19,583
    From this org
    $19,583
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Sue Bettman

    Board Member

    Total calculated
    $48,750
    From this org
    $48,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Ted Davidson (End 022023)

    Chairperson

    Total calculated
    $27,917
    From this org
    $27,917
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Woody Woodring (Start 092023)

    Board Member

    Total calculated
    $8,333
    From this org
    $8,333
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Mark Lau

    Senior Vice President, CFO

    Total calculated
    $704,077
    From this org
    $664,961
    From related orgs
    $0
    Other
    $39,116
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $337,227
    Bonus
    $315,965
    Other
    $11,769
    Deferred
    $27,750
    Nontaxable benefits
    $11,366
    Filer's total
    $704,077

  • Meredith Ritchie

    Senior Vice President, Counsel

    Total calculated
    $773,304
    From this org
    $741,138
    From related orgs
    $0
    Other
    $32,166
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $318,936
    Bonus
    $410,952
    Other
    $11,250
    Deferred
    $27,750
    Nontaxable benefits
    $4,416
    Filer's total
    $773,304

  • Charles Krawitz

    Senior Vice President

    Total calculated
    $733,380
    From this org
    $701,214
    From related orgs
    $0
    Other
    $32,166
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $357,974
    Bonus
    $331,009
    Other
    $12,231
    Deferred
    $27,750
    Nontaxable benefits
    $4,416
    Filer's total
    $733,380

  • Diane Hughes

    Senior Vice President

    Total calculated
    $771,486
    From this org
    $743,564
    From related orgs
    $0
    Other
    $27,922
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $347,314
    Bonus
    $385,000
    Other
    $11,250
    Deferred
    $26,365
    Nontaxable benefits
    $1,557
    Filer's total
    $771,486

  • Harry Zhu (end 092023)

    Senior Vice President

    Total calculated
    $842,664
    From this org
    $814,914
    From related orgs
    $0
    Other
    $27,750
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $277,046
    Bonus
    $526,618
    Other
    $11,250
    Deferred
    $27,750
    Nontaxable benefits
    $0
    Filer's total
    $842,664

  • Kenneth Schaafsma

    Senior Vice President

    Total calculated
    $706,765
    From this org
    $679,449
    From related orgs
    $0
    Other
    $27,316
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $336,046
    Bonus
    $343,005
    Other
    $398
    Deferred
    $16,500
    Nontaxable benefits
    $10,816
    Filer's total
    $706,765

  • Neeru Arora

    Senior Vice President

    Total calculated
    $870,247
    From this org
    $855,296
    From related orgs
    $0
    Other
    $14,951
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $355,296
    Bonus
    $500,000
    Other
    $0
    Deferred
    $6,554
    Nontaxable benefits
    $8,397
    Filer's total
    $870,247

  • Sumeet Grover

    Senior Vice President

    Total calculated
    $749,245
    From this org
    $721,495
    From related orgs
    $0
    Other
    $27,750
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $382,074
    Bonus
    $327,500
    Other
    $11,921
    Deferred
    $27,750
    Nontaxable benefits
    $0
    Filer's total
    $749,245

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202413199349316236

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.