FORM 990, PART VI, SECTION A, LINE 2 |
BRENT HELIN, HELEN PEARCE, PATRICK JURY, MURRAY WILLIAMS, AND MIKE POWERS ARE OFFICERS, DIRECTORS, OR KEY EMPLOYEES OF AFFILIATES MANAGEMENT COMPANY, A 100% OWNED RELATED ENTITY THAT HAS A BUSINESS RELATIONSHIP WITH IOWA CREDIT UNION LEAGUE. PATRICK JURY IS A DIRECTOR OF TMG FINANCIAL SERVICES, A 82.47% OWNED RELATED ENTITY THAT HAS A BUSINESS RELATIONSHIP WITH IOWA CREDIT UNION LEAGUE. |
FORM 990, PART VI, SECTION A, LINE 3 |
THE MEMBERS GROUP HOLDING COMPANY, INC, A 100% OWNED RELATED ENTITY, IS THE PAYROLL AGENT FOR THE ORGANIZATION. |
FORM 990, PART VI, SECTION A, LINE 3 |
AFFILIATES MANAGMENT COMPANY, A 100% OWNED RELATED ENTITY, PROVIDES ACCOUNTING, HUMAN RESOURCES, RISK MANAGEMENT, AND FACILITIES MANAGEMENT FOR THE ORGANIZATION. |
FORM 990, PART VI, SECTION A, LINE 4 |
IOWA CREDIT UNION LEAGUE AMENDED AND RESTATED ITS BYLAWS DURING 2016 TO 1) CLARIFY THE INDEMNITY OF DIRECTORS AND OFFICERS AGAINST EXPENSES INCURRED IN CONNECTION WITH ANY ACTION, SUIT, OR PROCEEDING TO WHICH HE OR SHE MAY BE MADE A PARTY BY REASON OF BEING OR HAVING BEEN A DIRECTOR OR OFFICER OF THE CORPORATION, 2) UPDATE THE DUTIES OF THE PRESIDENT, AND 3)INCREASE THE PERCENTAGE OF MEMBERS NECESSARY TO CALL A SPECIAL MEETING OF THE MEMBERS. |
FORM 990, PART VI, SECTION A, LINE 6 |
THIS ORGANIZATION HAS MEMBERS. THESE MEMBERS MAY BE DIVIDED INTO TWO CLASSES: REGULAR MEMBERS AND ASSOCIATE MEMBERS. REGULAR MEMBERS INCLUDE ALL MEMBERS THAT ARE CREDIT UNIONS INCORPORATED IN THE STATE OF IOWA, WHETHER STATE OR FEDERALLY CHARTERED. ASSOCIATE MEMBERS INCLUDE ALL MEMBERS THAT ARE CREDIT UNIONS LOCATED OUTSIDE THE STATE OF IOWA, WHETHER STATE OR FEDERALLY CHARTERED, AND ANY OTHER MEMBERS THAT THE BOARD OF DIRECTORS AUTHORIZES FOR MEMBERSHIP. REGULAR MEMBERS SHALL HAVE VOTING RIGHTS: ASSOCIATE MEMBERS SHALL NOT HAVE VOTING RIGHTS. |
FORM 990, PART VI, SECTION A, LINE 7A |
AT LEAST FIVE MONTHS PRIOR TO THE LEAGUE'S ANNUAL MEETING, THE LEAGUE WILL SEND TO ALL MEMBERS THE FOLLOWING: 1) A REPORT OF EACH MEMBER'S RESPECTIVE ASSET CATEGORY, BASED ON THE MOST RECENT CALL REPORT DATA; 2) A NOMINATION FORM INDICATING: (A) THE OPEN BOARD POSITION(S) TO BE FILLED WITHIN EACH RESPECTIVE ASSET CATEGORY AT THE UPCOMING ELECTION; AND (B) ANY OPEN BOARD AT-LARGE BOARD POSITION(S) TO BE FILLED AT THE UPCOMING ELECTION. THE BOARD OF DIRECTORS OF ANY MEMBER CREDIT UNION MAY NOMINATE ONE (1) OF THE EMPLOYEES OR BOARD MEMBERS OF THAT CREDIT UNION AS A CANDIDATE TO THE LEAGUE BOARD PROVIDED (1) IT FALLS WITHIN THE ASSET CATEGORY IN WHICH THERE WILL BE A VACANCY AT THE ENSUING ANNUAL MEETING, EXCEPT IN THE CASE OF A VACANCY FOR AN AT-LARGE MEMBER, IN WHICH CASE THE CREDIT UNION'S ASSET SIZE IS IMMATERIAL; AND (2) THE CREDIT UNION DOES NOT ALREADY HAVE A MEMBER ON THE BOARD, UNLESS THE CURRENT DIRECTOR'S TERM IS EXPIRING OR IS NOT SEEKING REELECTION. WITHIN THIRTY (30) DAYS FOLLOWING THE LEAGUE'S DISTRIBUTION OF A NOMINATION FORM TO MEMBERS, EACH MEMBER SHALL SUBMIT ITS NOMINATION, IF ANY, TO THE LEAGUE BY RETURNING THE COMPLETED NOMINATION FORM. THE LEAGUE WILL USE THE SUBMITTED NOMINATION FORMS TO COMPILE THE LIST OF CANDIDATES FOR OPEN BOARD POSITION(S) IN EACH ASSET CATEGORY, AS WELL AS ANY OPEN BOARD POSITION(S) IN THE AT-LARGE CATEGORY. WITHIN THIRTY (30) DAYS FOLLOWING THE DEADLINE FOR THE SUBMISSION OF NOMINATION FORMS TO THE LEAGUE, THE LEAGUE SHALL SEND TO ALL MEMBERS THE LIST OF CANDIDATES FOR THE OPEN BOARD POSITION(S) TO BE FILLED WITHIN THEIR RESPECTIVE ASSET CATEGORY, AS WELL AS ANY CANDIDATES FOR OPEN AT-LARGE POSITIONS. EACH MEMBER CREDIT UNION SHALL BE ENTITLED TO CAST A VOTE FOR EACH DIRECTOR TO BE ELECTED IN ITS RESPECTIVE ASSET CATEGORY, AND ALSO SHALL BE ENTITLED TO CAST A VOTE FOR EACH AT-LARGE DIRECTOR TO BE ELECTED. A NOMINEE MUST RECEIVE A MAJORITY OF THE VOTES CAST IN ORDER TO BE DECLARED ELECTED. WITHIN THIRTY (30) DAYS FOLLOWING THE DEADLINE FOR THE LEAGUE TO SEND THE LIST OF CANDIDATES TO EACH MEMBER, EACH MEMBER WILL SEND ITS VOTE(S) TO THE LEAGUE FOR TABULATION. IN THE EVENT A NOMINEE DOES NOT RECEIVE A MAJORITY OF THE VOTES CAST, THE TWO (2) NOMINEES, OR MORE, SHOULD THERE BE A TIE VOTE, RECEIVING THE GREATEST NUMBER OF VOTES SHALL AGAIN BE BALLOTED PRIOR TO THE ANNUAL MEETING AND THE ONE RECEIVING THE MAJORITY NUMBER OF VOTES SHALL BE DECLARED ELECTED. IN THE EVENT OF A TIE VOTE WHICH CANNOT BE RESOLVED AMONG: (A) TWO (2) NOMINEES IN THE SAME ASSET CATEGORY; OR (B) TWO (2) NOMINEES IN THE AT-LARGE CATEGORY , SUCH DIRECTORSHIP SHALL BE RESOLVED BY THE DELEGATES ASSEMBLED AT THE NEXT ANNUAL MEETING. |
FORM 990, PART VI, SECTION A, LINE 7B |
THE FISCAL YEAR OF THE LEAGUE SHALL BE ESTABLISHED BY A MAJORITY VOTE OF THE BOARD OF DIRECTORS. THE ANNUAL MEETING SHALL BE HELD ON A DATE TO BE SET BY THE BOARD OF DIRECTORS. HOWEVER, THE BOARD OF DIRECTORS MAY CANCEL ANY ANNUAL MEETING FOR JUST CAUSE. THE PLACE OF THE NEXT ANNUAL MEETING SHALL BE DETERMINED BY THE DELEGATES AT THE ANNUAL MEETING, OR THE DELEGATES MAY ASSIGN SUCH CHOICE TO THE BOARD OF DIRECTORS. AT LEAST SIXTY (60) DAYS PRIOR THERETO, THE PRESIDENT SHALL NOTIFY EACH MEMBER THEREOF IN WRITING OF THE DATE, PLACE AND HOUR OF THE MEETING. AT ALL MEETINGS EACH MEMBER CREDIT UNION SHALL BE ENTITLED TO CAST TWO (2) VOTES ON ALL QUESTIONS. SAID VOTES SHALL BE CAST BY ONE (1) OR TWO (2) DELEGATES OR ALTERNATES WHO MUST BE MEMBERS OF THE CREDIT UNION, AND WHO HAVE BEEN SELECTED BY THAT CREDIT UNION'S BOARD OF DIRECTORS, WHICH SELECTION SHALL BE CERTIFIED TO THE LEAGUE BOARD OF DIRECTORS PRIOR TO EACH MEETING. ONLY DELEGATES OR ALTERNATES SO CERTIFIED SHALL HAVE THE PRIVILEGE OF VOTING AT ANY MEETING. THERE SHALL BE NO VOTING BY PROXY. AT EACH ANNUAL MEETING, GENERAL COUNSEL TO THE LEAGUE SHALL CAUSE THE CREDENTIALS OF THE DELEGATES AND ALTERNATES ATTENDING THE ANNUAL MEETING TO BE CERTIFIED. IT SHALL FURTHER BE THE DUTY OF THE GENERAL COUNSEL TO CAUSE A REPORT TO BE PRESENTED TO THE CHAIRPERSON REGARDING THE DELEGATES AND ALTERNATES PRESENT. SPECIAL MEETINGS OF THE MEMBERS MAY BE CALLED BY THE PRESIDENT, A TWO-THIRDS (2/3) VOTE OF THE BOARD OF DIRECTORS OR SHALL BE CALLED UPON THE REQUEST, IN WRITING, OF TWENTY-FIVE PERCENT (25%) OR MORE OF MEMBER CREDIT UNIONS, PROVIDED THE REQUESTING CREDIT UNIONS COME FROM MORE THAN ONE (1) ASSET CATEGORY (AS REFERRED TO IN ARTICLE IV, SECTION 2, OF THESE BYLAWS). NOTICE OF ANY SPECIAL MEETING SHALL CONTAIN A STATEMENT OF THE PURPOSES OF THE MEETING AND ONLY THE BUSINESS SPECIFIED IN THE CALL MAY BE ACTED UPON AT SUCH MEETING. EACH MEMBER CREDIT UNION SHALL BE GIVEN AT LEAST FIFTEEN (15) DAYS WRITTEN NOTICE OF THE DATE, PLACE AND HOUR OF ALL SPECIAL MEETINGS. AT ALL REGULAR OR SPECIAL MEETINGS TEN PERCENT (10%) OR MORE OF THE MEMBER CREDIT UNIONS SHALL CONSTITUTE A QUORUM. |
FORM 990, PART VI, SECTION B, LINE 11B |
A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO THE FILING. |
FORM 990, PART VI, SECTION B, LINE 12C |
IOWA CREDIT UNION LEAGUE REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES ITS CONFLICT OF INTEREST POLICY BY ANNUALLY REVIEWING THE POLICY WITH BOARD MEMBERS AND HAVING THEM SIGN THE FORM EACH YEAR. ADHERANCE TO THE POLICY IS MONITORED BY FELLOW BOARD MEMBERS AND EXECUTIVE MANAGEMENT THROUGHOUT THE YEAR. |
FORM 990, PART VI, SECTION B, LINE 15A |
AFFILIATES MANAGMENT COMPANY (AMC) IS A 100% OWNED RELATED ENTITY OF THE IOWA CREDIT UNION LEAGUE (ICUL). THE AMC BOARD OF DIRECTORS HAS FORMED A COMPENSATION COMMITTEE TO REVIEW MARKET DATA COMPILED BY AN INDEPENDENT THIRD PARTY AND OTHER RELEVANT INFORMATION TO DESIGN THE COMPENSATION PLAN FOR THE CEO. THE COMPENSATION COMMITTEE REVIEWS THE COMPENSATION PLAN FOR THE CEO ON AN ANNUAL BASIS. A REVIEW BY AN INDEPENDENT THIRD PARTY IS REQUIRED BY POLICY TO BE PERFORMED NO LESS THAN ONCE EVERY THREE YEARS. THE MOST RECENT REVIEW BY THE INDEPENDENT THIRD PARTY WAS PERFORMED IN 2015. |
FORM 990, PART VI, SECTION C, LINE 19 |
THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST STATEMENTS, AND FORM 990 RETURNS ARE AVAILABLE UPON REQUEST. |
FORM 990, PART XI, LINE 9: |
EQUITY EARNINGS OF AFFILIATES MANAGEMENT COMPANY 1,646,179. |
FORM 990, PART I, LINE 6: EXPLANATION OF VOLUNTEERS |
11 MEMBERS SERVED ON THE ORGANIZATION'S BOARD OF DIRECTORS DURING THE YEAR AND ARE CONSIDERED VOLUNTEERS. THERE ARE ALSO ANOTHER 29 OTHER INDIVIDUALS WHO WORK ON COMMITTEES AS VOLUNTEERS. NO BOARD OR COMMITTEE MEMBERS RECEIVED ANY COMPENSATION, WITH THE EXCEPTION OF INDIVIDUALS SERVING AS BOARD MEMBERS OF AFFILATES MANAGEMENT COMPANY WHO RECEIVE DIRECTORS FEES AT A RATE OF $1,500 PER QUARTER. BRENT HELIN AND HELEN PEARCE SERVED ON THE AFFILIATES MANAGEMENT COMPANY BOARD AND EACH RECEIVED $6,000 IN DIRECTORS FEES. PATRICK JURY ALSO SERVED ON THE BOARD AS CHAIRMAN OF AFFILATES MANAGEMENT COMPANY BUT RECEIVED NO DIRECTOR FEES. |