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Nonprofiteer
← MIDWEST MEMBERS CREDIT UNION

Form 990 for tax year 2025

Filed by MIDWEST MEMBERS CREDIT UNION.

Totals

Total revenue
$13,185,350
Total expenses
$9,382,687
Contributions and grants received
$0
Grants paid
$9,500
Program service revenue
$11,545,777
Investment income
$1,617,245
Other revenue
$22,328
Total assets, end of year
$214,102,708
Total liabilities, end of year
$186,365,290
Net assets or fund balances, end of year
$27,737,418
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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: INTEREST ON LOANS

    total $8,464,289 · related or exempt $8,464,289

  • 2b · Program service revenue: FEES & OTHER INCOME

    total $3,078,675 · related or exempt $3,054,575 · unrelated business $24,100

  • 2c · Program service revenue: WARRANTY SALES

    total $2,813 · unrelated business $2,813

  • 3 · Investment income

    total $1,617,245 · related or exempt $1,617,245

  • 5 · Royalties

    total $22,328 · related or exempt $22,328

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,000

  • 2 · Grants to domestic individuals

    total $4,500

  • 4 · Benefits paid to or for members

    total $3,278

  • 5 · Compensation of officers, directors and key employees

    total $488,440

  • 7 · Other salaries and wages

    total $1,804,820

  • 8 · Pension plan contributions

    total $11,937

  • 9 · Other employee benefits

    total $480,302

  • 10 · Payroll taxes

    total $188,944

  • 11b · Fees: legal

    total $10,880

  • 11c · Fees: accounting

    total $29,575

  • 11g · Fees: other

    total $959,363

  • 12 · Advertising and promotion

    total $215,543

  • 13 · Office expenses

    total $546,678

  • 14 · Information technology

    total $396,813

  • 16 · Occupancy

    total $315,629

  • 19 · Conferences, conventions and meetings

    total $93,152

  • 22 · Depreciation, depletion and amortization

    total $226,235

  • 23 · Insurance

    total $82,308

  • 24a · Other expenses: MEMBER DIVIDENDS

    total $1,959,569

  • 24b · Other expenses: PROVISION FOR LOAN LOSS

    total $752,768

  • 24c · Other expenses: LOAN SERVICING

    total $700,753

  • 24d · Other expenses: DEBIT CONVERSION EXPENS

    total $69,779

  • 24e · All other expenses

    total $36,421

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,823,321 · end of year $2,952,260

  • 2 · Savings and temporary cash investments

    beginning of year $1,996,530 · end of year $36,011,410

  • 7 · Other notes and loans receivable

    beginning of year $152,671,061 · end of year $160,057,128

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,975,783 · end of year $4,425,301

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

    $8,790,755

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

    $4,194,181

  • 10c · Land, buildings and equipment, net

    beginning of year $4,528,350 · end of year $4,596,574

  • 12 · Investments: other securities

    beginning of year $31,422,342 · end of year $2,118,981

  • 15 · Other assets

    beginning of year $4,220,347 · end of year $3,941,054

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,094,512 · end of year $1,285,120

  • 25 · Other liabilities

    beginning of year $177,129,875 · end of year $185,080,170

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $23,413,347 · end of year $27,737,418

Mission and programs · 2025

Mission

MIDWEST MEMBERS CREDIT UNION WILL BECOME THE AREA'S FULL SERVICE CREDIT UNION OF CHOICE BY PROVIDING CONVENIENT MEMBER ACCESS TO A WIDE RANGE OF FINANCIAL SERVICES.

  • PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 17,590 MEMBERS.

  • PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2025, LOANS OUTSTANDING TOTALED $161,376,278.

  • PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $1,959,569 FOR THE YEAR.

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Gerard Jacquin

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    3.5

  • Richard Bartosiak

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    3.5

  • Randy Duncan

    SECRETARY

    Total calculated
    $0
    Hours/week
    3.5

  • Mark Schoenleber

    TREASURER

    Total calculated
    $0
    Hours/week
    3.5

  • Brian Nottrott

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3.5

  • William Dusenberry

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3.5

  • Jeff Whitaker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Louis Bicanic III

    PRESIDENT/CEO

    Total calculated
    $226,096
    From this org
    $0
    From related orgs
    $216,766
    Other
    $9,330
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $215,776 related
    Bonus
    $0
    Other
    $0 + $990 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $9,330 related
    Filer's total
    $0 + $226,096 related

  • Timothy Carter

    COO

    Total calculated
    $131,633
    From this org
    $0
    From related orgs
    $129,666
    Other
    $1,967
    Hours/week
    40

  • Samantha Pritchett

    CFO

    Total calculated
    $130,711
    From this org
    $0
    From related orgs
    $129,666
    Other
    $1,045
    Hours/week
    40

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 survey or study

Answered no

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

The filer's explanations (Part III)

PART I, LINE 3
THE COMPEASE SALARY ADMINISTRATION PROGRAM FROM HR PERFORMANCE SOLUTIONS IS USED TO DETERMINE ALL EMPLOYEE COMPENSATION, INCLUDING THE PRESIDENT'S.

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.

Provenance

Return type
form_990
Tax year
2025
Filed
2 July 2026
IRS schema version
2025v4.2
Source object
202631839349300303

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