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Nonprofiteer
← ALLIANT CREDIT UNION

Form 990 for tax year 2024

Filed by ALLIANT CREDIT UNION.

Totals

Total revenue
$1,266,937,770
Total expenses
$1,185,270,168
Contributions and grants received
$0
Grants paid
$16,000
Program service revenue
$1,140,326,541
Investment income
$126,611,229
Other revenue
$0
Total assets, end of year
$19,539,151,845
Total liabilities, end of year
$18,117,300,934
Net assets or fund balances, end of year
$1,421,850,911
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 $1,138,184,752 · related or exempt $1,138,184,752

  • 2b · Program service revenue: Service Fees

    total $5,223,087 · related or exempt $5,223,087

  • 2c · Program service revenue: Investment Services

    total $6,064,943 · related or exempt $6,064,943

  • 2d · Program service revenue: Interchange Income

    total $5,502,405 · related or exempt $5,502,405

  • 2e · Program service revenue: Insurance Income

    total $1,379,343 · related or exempt $676,199 · unrelated business $703,144

  • 2f · All other program service revenue

    total -$16,027,989 · related or exempt -$16,027,989 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $117,816,679 · related or exempt $117,818,104 · unrelated business -$1,425

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $431,155,972 · other assets $1,301,139,856

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

    securities $442,557,412 · other assets $1,280,943,866

  • 7c · Gain or loss

    securities -$11,401,440 · other assets $20,195,990

  • 7d · Net gain or loss

    total $8,794,550 · related or exempt $8,794,550

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $0

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 $8,854,767

  • 7 · Other salaries and wages

    total $109,226,442

  • 8 · Pension plan contributions

    total $13,861,538

  • 10 · Payroll taxes

    total $21,944,404

  • 11b · Fees: legal

    total $969,640

  • 11c · Fees: accounting

    total $525,300

  • 11g · Fees: other

    total $7,995,215

  • 12 · Advertising and promotion

    total $16,728,483

  • 13 · Office expenses

    total $5,471,257

  • 14 · Information technology

    total $21,790,301

  • 16 · Occupancy

    total $2,066,855

  • 17 · Travel

    total $1,036,521

  • 19 · Conferences, conventions and meetings

    total $232,237

  • 20 · Interest

    total $830,508,066

  • 22 · Depreciation, depletion and amortization

    total $10,203,766

  • 23 · Insurance

    total $483,868

  • 24a · Other expenses: Provision for Loan Loss

    total $110,034,808

  • 24b · Other expenses: Mortgage Servicing Fees

    total $6,414,942

  • 24c · Other expenses: Credit Card Servicing Fees

    total $4,267,066

  • 24d · Other expenses: ATM Servicing Fees

    total $4,253,354

  • 24e · All other expenses

    total $8,385,338

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $219,935,517 · end of year $189,141,440

  • 4 · Accounts receivable

    beginning of year $96,705,439 · end of year $102,525,401

  • 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 $14,840,284,106 · end of year $15,150,569,812

  • 9 · Prepaid expenses and deferred charges

    beginning of year $12,519,526 · end of year $9,789,925

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

    $162,774,590

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

    $142,354,463

  • 10c · Land, buildings and equipment, net

    beginning of year $24,284,589 · end of year $20,420,127

  • 11 · Investments: publicly traded securities

    beginning of year $2,507,573,072 · end of year $3,119,446,906

  • 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 $771,428,040 · end of year $946,755,734

  • 17 · Accounts payable and accrued expenses

    beginning of year $143,086,470 · end of year $133,706,861

  • 19 · Deferred revenue

    beginning of year $1,932,498 · end of year $1,512,998

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $17,034,356,039 · end of year $17,982,081,075

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,293,857,782 · end of year $1,421,850,911

Mission and programs · 2024

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 2024 return.

Listed in Part VII

  • Dennis Devine END 102024

    CEO

    Total calculated
    $6,426,149
    From this org
    $6,305,376
    From related orgs
    $0
    Other
    $120,773
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $824,743
    Bonus
    $2,230,633
    Other
    $3,250,000
    Deferred
    $42,000
    Nontaxable benefits
    $78,773
    Filer's total
    $6,426,149

  • Ajibola Johnson

    Chairperson of Supervisory Committee

    Total calculated
    $56,667
    From this org
    $56,667
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • David Leib

    Chairperson

    Total calculated
    $70,000
    From this org
    $70,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • David Tentinger START 042024

    Board Member

    Total calculated
    $25,000
    From this org
    $25,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Deepak Khandelwal

    Board Member

    Total calculated
    $50,000
    From this org
    $50,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Irwin Gzesh END 022024

    Chairperson of Supervisory Committee

    Total calculated
    $25,000
    From this org
    $25,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Julian Chu END 022024

    Chairperson of Compensation & Talent, Board Secretary

    Total calculated
    $25,000
    From this org
    $25,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Kenton Chow

    Chairperson of Compensation & Talent

    Total calculated
    $56,667
    From this org
    $56,667
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Lee Achord

    Vice Chairperson

    Total calculated
    $60,000
    From this org
    $60,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Sabrina King

    Board Secretary

    Total calculated
    $60,000
    From this org
    $60,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Sarah Searls START 022024

    Board Member

    Total calculated
    $33,334
    From this org
    $33,334
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Sue Bettman

    Board Member

    Total calculated
    $50,000
    From this org
    $50,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Woody Woodring

    Board Member

    Total calculated
    $50,000
    From this org
    $50,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Mark Lau

    EVP, CFO

    Total calculated
    $958,353
    From this org
    $852,653
    From related orgs
    $0
    Other
    $105,700
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $339,963
    Bonus
    $512,690
    Other
    $0
    Deferred
    $34,500
    Nontaxable benefits
    $71,200
    Filer's total
    $958,353

  • Meredith Ritchie

    EVP, Counsel

    Total calculated
    $908,597
    From this org
    $786,547
    From related orgs
    $0
    Other
    $122,050
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $342,509
    Bonus
    $444,038
    Other
    $0
    Deferred
    $42,000
    Nontaxable benefits
    $80,050
    Filer's total
    $908,597

  • Diane Hughes

    EVP

    Total calculated
    $1,045,093
    From this org
    $927,943
    From related orgs
    $0
    Other
    $117,150
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $372,144
    Bonus
    $555,799
    Other
    $0
    Deferred
    $42,000
    Nontaxable benefits
    $75,150
    Filer's total
    $1,045,093

  • James Warder

    EVP

    Total calculated
    $736,773
    From this org
    $698,060
    From related orgs
    $0
    Other
    $38,713
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $248,060
    Bonus
    $450,000
    Other
    $0
    Deferred
    $11,500
    Nontaxable benefits
    $27,213
    Filer's total
    $736,773

  • Kenneth Crowder

    Retail Mortgage Loan Officer

    Total calculated
    $1,095,763
    From this org
    $1,012,707
    From related orgs
    $0
    Other
    $83,056
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $27,653
    Bonus
    $985,054
    Other
    $0
    Deferred
    $30,500
    Nontaxable benefits
    $52,556
    Filer's total
    $1,095,763

  • Kenneth Schaafsma

    EVP/Interim CEO

    Total calculated
    $884,041
    From this org
    $822,641
    From related orgs
    $0
    Other
    $61,400
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $381,158
    Bonus
    $438,910
    Other
    $2,573
    Deferred
    $18,375
    Nontaxable benefits
    $43,025
    Filer's total
    $884,041

  • Sumeet Grover

    EVP

    Total calculated
    $1,100,078
    From this org
    $987,328
    From related orgs
    $0
    Other
    $112,750
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $405,842
    Bonus
    $581,486
    Other
    $0
    Deferred
    $42,000
    Nontaxable benefits
    $70,750
    Filer's total
    $1,100,078

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
  • 4a · Severance or change-of-control payment

Answered no

  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Schedule J, Part I, Line 4a Severance or change-of-control payment
Dennis Devine (CEO) received $3,250,000 of severance upon his departure from the credit union in October 2024.

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
2024
Filed
17 November 2025
IRS schema version
2024v5.1
Source object
202523219349320697

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