2024-11-15T14:22:34-06:00 2023-12-31 931743146 Eifel Rambo Advisory Group Ltd 20635 Abbey Woods Ct Suite 301 Frankfort IL 60423 990 2023-01-01 360757152 Fox Valley Credit Union FOXV 6308592276 575 N Broadway Aurora IL 60505 Kyle B Whelan President/CEO 6308592276 2024-11-15 1 0 Matt Beckley P00331163 7086282365 2024-11-15 2023 2024-10-15 13:58:12Z Kyle B Whelan 575 N Broadway Aurora IL 60505 2065246 0 X www.foxvalleycu.com X Cooperative 1936 IL Illinois state chartered credit union offering financial services to its members. 11 10 12 10 200 0 0 0 1241993 1292069 466231 773177 157773 0 1865997 2065246 0 0 0 0 666411 662637 0 0 0 933043 1272369 1599454 1935006 266543 130240 50084361 47690119 43406545 40904981 6677816 6785138 Illinois state chartered credit union operated for the mutual benefit of its members. The Credit Union makes loans to members and pays dividends to members with share deposits at a competitive rate of interest. 0 0 Credit Union makes and services consumer and real estate loans to members. The number of loans outstanding at 12/31/23 was 1,680 for a total of $18,863,999. Credit Union pays out dividends to its members share deposit accounts at a market rate of interest. The number of share accounts at 12/31/23 was 6,134 for a total of $40,002,473. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 721 0 1 12 0 0 0 0 0 0 0 0 0 X 11 10 1 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X X Kyle B Whelan 6308592276 575 North Broadway Aurora IL 60505 Michelle Meyer Chairman 2.00 X X 0 0 0 Durrell Williams Vice Chairman 5.00 X X 0 0 0 Robin Lamb Treasurer 2.00 X X 0 0 0 Elizabeth Jarvis Secretary 2.00 X X 0 0 0 Bobby Mitchell Director 1.00 X 0 0 0 Judith Jarvis Director 1.00 X 0 0 0 Gerard Nickels Director 1.00 X 0 0 0 Jim Weiss Director 1.00 X 0 0 0 Dave Dolder Director 1.00 X 0 0 0 Mark Lyons Director 1.00 X 0 0 0 Kyle B Whelan President/CEO 48.00 X 107200 0 24864 107200 0 24864 1 0 0 0 0 Member Loans 522291 959442 959442 Fee Income 522291 332627 332427 200 1292069 773177 773177 2065246 1291869 200 773177 132064 445450 1200 35642 48281 11967 8546 10082 96536 122796 155215 64 9315 3080 39617 35378 Member dividends 257950 Operations 204982 Provision for loan loss 156018 Loan servicing 118717 42106 1935006 1031201 870370 1866472 212632 17042599 18863999 172513 163550 688232 409540 307761 278692 28850035 26526079 813780 774797 50084361 47690119 206408 827207 43200137 40077774 43406545 40904981 X 0 0 0 0 6677816 6785138 6677816 6785138 50084361 47690119 130240 17082 -40000 0 X 0 0 0 141517 141517 280853 198189 82664 265862 211351 54511 278692 Members' share and savings accounts 40002473 Lease liability 75301 40077774 X 2082328 17082 17082 2065246 0 2065246 1935006 0 1935006 0 1935006 Part X, Line 2: FIN 48 Note from Audited Financial Statements Fox Valley Credit Union was granted an exemption from federal income taxes by the Internal Revenue Service pursuant to the provisions of Internal Revenue Code Section 501(c)(14). The tax exempt purpose of the Credit Union and the nature in which it operates is described in the first paragraph of Note 1. Management believes the Credit Union continues to operate in compliance with its tax exempt purpose. The Credit Union had no unrelated business income in 2023 and 2022 that management believes is subject to taxation. The Credit Union's annual information returns filed with the Internal Revenue Service are open to examination generally for three years after filing. Form 990, Part VI, Section A, line 2 Judith Jarvis and Elizabeth Jarvis are both on the Board of Directors and are sisters. Form 990, Part VI, Section A, line 6 Membership consists of individuals with funds on deposit with the credit union. Form 990, Part VI, Section A, line 7a The membership participates in the annual election of the Board of Directors. Form 990, Part VI, Section A, line 7b Members have a vote on a Credit Union merger or liquidation. Form 990, Part VI, Section B, line 11b The Form 990 was reviewed by Senior Management and the Board of Directors. Form 990, Part VI, Section B, line 12c Potential conflicts monitored quarterly by the Supervisory Committee. Form 990, Part VI, Section B, line 15 Compensation of the CEO and Vice President is reviewed annually by an independent committee using comparability data and CUNA salary guidelines. Form 990, Part VI, Section C, line 19 Available upon request