2019 Annual Report

What does it mean to Move Up on your financial journey?

It’s finding a friend to guide you on the way to success – whatever that looks like to you. We know financial success is different for everyone. And for your credit union, success in 2019 looked a little something like this . . .

Building better communities and a better future

We celebrated the grand opening of our new 92,000 square-foot headquarters, located at 2500 River Drive in Moline. The multi-million-dollar project reinvested in the Quad Cities by working with local businesses and employing more than 600 local union trades men and women. The four-story building is home to nearly 300 team members. The project was led by Russell and LEO A DALY.

We got you moving with $616,056,981 in loans. To put it in perspective, that means:

1,051 started their home buying journey at IHMVCU, for a total of $149,034,387 in mortgages. Nearly 18,500 people hit the road in new autos. 355 small businesses got the funding they needed, totaling $54,927,484.

You spent your money your way

In addition to traditional debit and credit card transactions, 12,787 members utilized Mobile Wallet by enrolling in Google Pay, Samsung Pay or Apple Pay with their IHMVCU debit or credit card. That was a 67% increase from 2018.

We’re talking $536,472,653 in purchases

Totaling $117,288,438

Being with them for over 30 years. I highly recommend it. I’ve been a member with other institutions, they don’t match their customer service and help! Very helpful and customer friendly!!! If you’re not a member or looking for a financial institution I highly recommend them!

- Chris C.

Everything. I have been with this bank for years and have found that everyone is friendly … honest … efficient and professional. Whatever problem I had, they were there ready to help and always did. Yes, I recommend this bank to everyone.

- Sandra R.

They went above and beyond recommending different services to use. I was interested in building my credit and was directed to a shared pledge loan. My credit score has improved over 30 points in the first few months!

- Alexa P.

My direct deposit paycheck is credited to my account the same day my employer sends it. No waiting 2 days. That’s the way it should be. Thank you IHMVCU.

- John G.

Our Member Advantage program saved members $108,401 on baseball tickets, hockey games, concerts, swimming pools, haunted houses and so much more. That’s 18,791 tickets.

You came to see us a lot ...

... but you also banked on your own time

In fact, check deposits using the mobile app recorded a total of $59,455,055. Members using the IHMVCU mobile app were up a whopping 34% from 2018.

We had a bit of a sweet tooth...

Together in 2019 we ate 1,183 frosted IHMVCU cookies and 154 pounds of candy (we can’t lie, we like sugar).

Make My Mortgage Payment Sweepstakes 2019

We continued our tradition of surprising our top scholarship winners and Make My Mortgage Payment Sweepstakes winner with giant checks. It’s hugely satisfying knowing we've made a difference in our members’ lives.

On a corporate level, we contributed $197,968 in donations and sponsorships for organizations like Birdies for Charity, Boys & Girls Club, Immigrant Entrepreneurs Summit, Lead(h)er, River Bend FoodBank, Taste of Galesburg, United Way, USO of Illinois, WQPT, YWCA and so many more.

We honored some great Quad Citizens

We also partnered with the Quad-City Times to highlight everyday people doing extraordinary things with the Quad-Citizen Award. We were honored and humbled to learn how Michele Allison, Gwen Ballard-Patton, Marlys “Marty” Brunsvold, Rev. Rich Hendricks, John Kessler, Michael Stratford and Maddie Vinson were making their communities – our communities – a better place. Take a moment and nominate someone today.

We participated in the inaugural CU Kind Day sponsored by the Illinois Credit Union League on October 14 to spread kindness and give back to our communities. Team IHMVCU spent the day painting the Kid’s Club Room and sprucing up the playground for the local Boys & Girls Clubs.

We took flight with those who served

Team member Rachel was honored to accompany two Quad City veterans on the 50th Honor Flight of the Quad Cities.

You kept it safe and secure with our 2019 shred event

Members brought in 4,900 pounds of sensitive documents to be shredded. That’s the weight of an adult rhino.

2019 marked our 20th year of honoring students who stand out in their schools and communities. Our Cash for Class Scholarship Program has awarded $280,500 to 256 deserving students.

We also know you like to read … specifically our blog. The top 5 blogs of 2019 were:

Credit card balance transfer: The the bad, the ugly

How to improve your credit score by 100 points with these 5 steps

Host a Pinterest-perfect holiday party on a budget

Don't let fraudsters steal your holiday spirit

Beware of robocall scams

The #1 Facebook post of 2019

The top post of the year helped us warn members about a text scam. You helped us reach 130,577 people and helped keep their money safe.

  • Best Banking – 1st place (7th year in a row!)
  • Best Mortgages and Real Estate Loans – 1st place
  • Best Personal Loans – 1st place
  • Best Financial Advisors – 4th place
  • 2019 Quad-City Times Readers’ Choice Award – Best Credit Union
  • 2019 Register Mail’s Best of the Best Knox County – Best Credit Union

In 2019, IHMVCU invested in our members, our team members and our communities. You responded by:

  • joining IHMVCU – making us nearly 130,000 members strong (HELLO to our more than 15,000 new members)
  • using our Member Advantage program and saving nearly $110,000
  • earning nearly $14.5 million in dividends

But our investments didn't stop there...

We turned your deposits into community improvement by lending more than $616 million dollars through 28,700 consumer loans. We worked with local suppliers and businesses, and employed more than 600 local trades men and women, when building our new headquarters. And we continued to attract and retain nearly 400 team members who work every day to meet your financial goals.

We improved your credit union – from the completion of our Rock Island Financial Center, and expanding our video teller locations (Kimberly Road in Davenport, Moline Avenue of the Cities, Moline River Drive, Rock Island and Silvis) to a concerted effort to improve your experience with the Contact Center (reducing wait times from 5 minutes and 46 seconds in 2018 to 2 minutes and 38 seconds in 2019). Rest assured, we’re still not satisfied with those numbers and will continue to work to make your experience better.

We invested $200,000 in our communities by donating and supporting organizations that matter most to you and our mission. We also partnered with the Quad-City Times to highlight everyday people doing extraordinary things with the Quad-Citizen Award. We were honored and humbled to learn how Michele Allison, Gwen Ballard-Patton, Marlys “Marty” Brunsvold, Rev. Rich Hendricks, John Kessler, Michael Stratford and Maddie Vinson were making their communities – our communities – a better place.

All of these investments underscore our commitment to be your Pathfinder, your trusted financial partner, for every step of your financial journey. We’re in this together today, tomorrow and beyond.

Move up with us,

We’re committed to holding IHMVCU to the highest standards

Appointed by the Board of Directors, your Supervisory Committee met throughout the year with IHMVCU management to ensure the effectiveness of internal controls, adherence to established policies and procedures, compliance with regulatory requirements and propriety of financial accounting and reporting.

Based on the results of the 2019 annual audit performed by certified public accountants CliftonLarsonAllen LLP, as well as audits conducted by the National Credit Union Administration and the Department of Financial Institutions, we conclude that IHMVCU has adequate financial controls and is financially sound.

Respectfully submitted,

Board of Directors

Tom Terronez, Chair

Ajay Singh, Vice Chair

Sam Kupresin, Secretary/Treasurer

Jeff Carr

Tim Considine

Megan Early

Kristen Glass

Chip Irwin

Tom Kale, Jr.

Larry Wiemers

Supervisory Committee

Megan Early, Chair

Larry Wiemers, Secretary

Tim Considine

Kristin Glass

Melissa Pepper

Federally Insured by NCUA | Equal Housing Opportunity | NMLS 463074