2026-07-03T06:34:25-07:00 2025-12-31 990 2025-01-01 350997241 INDIANA MEMBERS CREDIT UNION INDI 3177880366 835 N College Avenue Suite 1120 Indianapolis IN 46202 Todd Habig SVP, Finance 3175548113 2026-04-30 2025 2025-03-06 01:10:19Z John Newett 835 N College Avenue Suite 1120 Indianapolis IN 46202 199653124 0 X www.imcu.org X 1956 IN State-chartered credit union. 9 9 573 3 909246 909246 0 0 111911679 124268822 40159096 41462557 30813228 33921745 182884003 199653124 0 0 0 0 44784140 50564025 0 0 0 110814872 119018683 155599012 169582708 27284991 30070416 3201121597 3528200511 98857482 178970768 3102264115 3349229743 State-chartered credit union. 0 0 0 0 124268822 We take in deposits and make loans for those who, in some cases, would not have access to another financial institution. 0 0 41462557 We invest excess funds on behalf of our members, and return the profits to the members in the form of dividends. 0 0 33921745 We provide services to members at below-market fees. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 1 219 0 1 573 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 1 1 0 1 1 1 1 1 1 0 0 X Todd Habig 3175548113 835 N College Avenue Suite 1120 Indianapolis IN 46202 John Newett CEO 40 1 X 933747 0 68390 Todd Habig CFO 40 1 X 473110 0 68390 Justin Sinders Chief Strategy Officer 40 0 X 375226 0 68390 Luke Yaeger Market President 40 0 X 354899 0 68390 Jeffrey Hawkins Chief Information Officer 40 0 X 336688 0 68390 Patrick Murphy Senior Vice President 40 0 X 333314 0 68390 Scott Mann Chief Retail Officer 40 0 X 306842 0 64587 Tom Wellman Chief Risk Officer 40 0 X 300315 0 65453 John Schenk Vice President 40 0 X 252322 0 56666 Thorpe Miller Chief Marketing Officer 40 0 X 245854 0 55343 Bill White Market President 40 0 X 237882 0 45119 Daralyn Schneider Senior Vice President 40 0 X 220110 0 50387 Chantelle Sparks Senior Vice President 40 0 X 219287 0 51096 Daniel Collier Assistant Vice Pres 40 0 X 220727 0 43757 Amanda Emery Vice President 10 30 X 213876 0 50024 Daren Johnson Senior Commercial Loan Officer 40 0 X 215140 0 35254 Gregory Perrey Financial Services Advisor 40 0 X 196651 0 47447 Kathleen Mitchell Vice President 40 0 X 179510 0 44877 Brian Woods Senior Commercial Loan Officer 40 0 X 187977 0 35276 Trevor Haley Assistant Vice President 40 0 X 173248 0 44922 Connie Tyler Vice President 40 0 X 169295 0 44554 Robert Martin Chairman 8 1 X 50600 0 0 Nicholas Kellum Vice Chairman 5 1 X 41025 0 0 Maggie Miller Secretary 3 0 X 34975 0 0 Michael Ney Treasurer 3 0 X 29475 0 0 Jacqueline Blackwell Board Member 2 1 X 24200 0 0 Joe Schulz Board Member 2 0 X 23852 0 0 Kim Hodges Board Member 2 0 X 22900 0 0 Bert Kite Board Member 2 0 X 21690 0 0 Ann Schneider Board Member 2 0 X 19725 0 0 6414462 0 1145102 49 0 1 0 0 0 124268822 124268822 0 0 124268822 41462557 41462557 0 0 0 0 0 0 0 0 0 0 0 0 0 0 33921745 33012499 909246 0 33921745 199653124 198743878 909246 0 6414462 0 29566981 3341036 8692483 2549063 1417906 181867 184000 0 0 0 425914 3778571 3082493 7157799 0 7978259 759734 0 0 1271627 0 4233455 455042 Dividends to Members 63627316 ATM/Debit/Credit Card Programs 11885215 Credit Loss Expense 10085000 2494485 169582708 0 0 0 33459283 32402017 189511878 117561558 0 0 19567962 33249736 3243684 44001216 0 0 1934944646 2104077897 0 0 3353049 1949745 145713951 44689528 64855211 101024423 0 0 0 0 904533802 1044405559 22836077 22704253 24816005 26824107 3201121597 3528200511 34231238 75100546 0 0 0 0 0 0 0 0 0 0 45000000 83000000 0 0 19626244 20870222 98857482 178970768 X 2889912721 3073300543 206567950 226587745 5783444 49341455 3102264115 3349229743 3201121597 3528200511 X 30070416 33507391 0 0 0 183387821 X 0 1 X 1 0 22587233 0 22587233 60651409 0 27002363 33649046 21107252 0 981595 20125657 23278100 0 16705570 6572530 18089957 0 0 18089957 101024423 Federal Home Loan Bank Stock 7404800 C Municipal Bonds 113547071 F Collateralized Mortgage Obligations 413821597 F Mortgage Backed Securities 422883396 F U.S. Agencies 86402487 F Perpetual Contributed Capital 346208 C 1044405559 0 Deferred Compensation 20870222 20870222 X X 1 1 X X X 0 1 0 Chantelle Sparks Senior Vice President 178599 0 36488 0 4200 0 51096 0 0 0 270383 0 0 0 Todd Habig CFO 395419 0 73491 0 4200 0 68390 0 0 0 541500 0 0 0 John Newett CEO 763918 0 165629 0 4200 0 68390 0 0 0 1002137 0 0 0 Connie Tyler Vice President 135360 0 29735 0 4200 0 44554 0 0 0 213849 0 0 0 Patrick Murphy Senior Vice President 273809 0 55305 0 4200 0 68390 0 0 0 401704 0 0 0 Amanda Emery Vice President 176276 0 33400 0 4200 0 50024 0 0 0 263900 0 0 0 Jeffrey Hawkins Chief Information Officer 264480 0 68008 0 4200 0 68390 0 0 0 405078 0 0 0 Justin Sinders Chief Strategy Officer 301379 0 69647 0 4200 0 68390 0 0 0 443616 0 0 0 Gregory Perrey Financial Services Advisor 125103 0 67348 0 4200 0 47447 0 0 0 244098 0 0 0 Brian Woods Senior Commercial Loan Officer 175132 0 8645 0 4200 0 35276 0 0 0 223253 0 0 0 Thorpe Miller Chief Marketing Officer 199328 0 42326 0 4200 0 55343 0 0 0 301197 0 0 0 Daralyn Schneider Senior Vice President 178874 0 37036 0 4200 0 50387 0 0 0 270497 0 0 0 Daren Johnson Senior Commercial Loan Officer 168709 0 42231 0 4200 0 35254 0 0 0 250394 0 0 0 Scott Mann Chief Retail Officer 245620 0 57022 0 4200 0 64587 0 0 0 371429 0 0 0 Trevor Haley Assistant Vice President 145548 0 23500 0 4200 0 44922 0 0 0 218170 0 0 0 Kathleen Mitchell Vice President 145672 0 29638 0 4200 0 44877 0 0 0 224387 0 0 0 Tom Wellman Chief Risk Officer 243229 0 52886 0 4200 0 65453 0 0 0 365768 0 0 0 Luke Yaeger Market President 292933 0 57766 0 4200 0 68390 0 0 0 423289 0 0 0 Bill White Market President 194125 0 39557 0 4200 0 45119 0 0 0 283001 0 0 0 John Schenk Vice President 198183 0 49939 0 4200 0 56666 0 0 0 308988 0 0 0 Daniel Collier Assistant Vice Pres 167144 0 49383 0 4200 0 43757 0 0 0 264484 0 0 0 Schedule J, Part I, Line 1a When a board member or credit union officer attends a credit union conference, they may take their companion to the conference. Additionally, seven credit union officers are provided country club memberships in order to entertain clients. Schedule J, Part I, Line 3 The Board of Directors reviews and approves the CEO's annual salary, after the board's Compensation Committee presents their research and salary recommendations. The board uses comparable data from the Credit Union Executive Society's annual compensation survey. Minutes are taken regarding the related board discussions. This process was last conducted in July of 2025. Schedule J, Part I, Line 4 Todd Habig, Scott Mann, Jeffrey Hawkins, Amanda Emery, Chantelle Sparks, Kathleen Mitchell, Patrick Murphy, Daralyn Schneider, Connie Tyler, Justin Sinders, Tom Wellman, Thorpe Miller, John Newett, Luke Yaeger, John Schenk, Trevor Haley & Gregg Perrey each participated in the nonqualified deferred compensation plan, with a deferral of $15,652 and company matching of $7,826. Brian Woods participated in this plan, with a deferral of $9,126 and company matching of $4,563. Daniel Collier participated in this plan, with a deferral of $10,400 and company matching of $5,200. Daren Johnson participated in this plan, with a deferral of $5,525 and company matching of $2,763. Additionally, the following individuals participate in a "collateral assignment split dollar" plan and received the alternative funding arrangement amounts following their names: John Newett - $22,314,300, Justin Sinders - $2,928,871, Luke Yaeger - $1,939,167, Scott Mann - $3,580,268, Jeffrey Hawkins - $2,417,682, Thorpe Miller - $2,433,384, Chantelle Sparks - $1,737,778, John Schenk - $1,039,868, and Tom Wellman - $4,575,759. See Schedule L, Part V, for a broader description of the arrangement. John Newett Officer See Part V X 22314300 22935084 0 1 1 Justin Sinders Officer See Part V X 2928871 3055110 0 1 1 Luke Yaeger Officer See Part V X 1939167 1974474 0 1 1 Scott Mann Officer See Part V X 3580268 3645455 0 1 1 Jeffrey Hawkins Officer See Part V X 2417682 2461702 0 1 1 Thorpe Miller Officer See Part V X 2433384 2477689 0 1 1 Chantelle Sparks Officer See Part V X 1737778 1769419 0 1 1 John Schenk Officer See Part V X 1039868 1058801 0 1 1 Tom Wellman Officer See Part V X 4575759 4623482 0 1 1 44001216 Schedule L, Part II Indiana Members Credit Union ("IMCU") provides supplemental retirement benefits through an alternative funding arrangement the IRS calls "collateral assignment split dollar" ("CASD"). Although the IRS requires reporting in the loan section of Schedule L, CASD is not an actual loan--no funds are transferred to the executive. Rather, the "loan" treatment applies because after the executive has received retirement benefits, IMCU recovers its outlays plus interest. The recovery right is the key advantage of CASD for IMCU. Rather than paying retirement benefits to the executive that would never be recovered, under CASD IMCU recovers not only its outlays, but also consideration for the time value of money. CASD works as follows: IMCU deposits funds into a cash value life insurance policy on the executive's life. During life, to the extent the executive fulfills service and vesting requirements, the executive can borrow against values in the policy to supplement retirement income. Policy performance is closely monitored. If policy performance lags, the executive's borrowing rights are reduced to protect IMCU's recovery rights. At the executive's death, the policy death proceeds are first used to repay IMCU its deposits plus compounded interest (at the IRS long-term applicable rate). The executive's beneficiary then receives any projected retirement borrowing the executive did not access during life. Any remaining death proceeds are then received by IMCU. IMCU and each of the following executives: John Newett, Justin Sinders, Luke Yaeger, Scott Mann, Jeffrey Hawkins, Thorpe Miller, Chantelle Sparks, John Schenk and Tom Wellman, have signed and dated a written representation under 26 C.F.R. Section 1.7872-15(D)(2). All representations state, "IMCU has paid one or more premiums into life insurance policies the named executive owns. The premiums are treated for tax purposes as nonrecourse split-dollar loans under 26 C.F.R. Section 1.7872-15. IMCU and the executive represent that a reasonable person would expect that IMCU will be paid all of its premium payments. By our signatures, we agree to be bound by the terms of this agreement." Following this page are copies, regarding 2025 transactions, of the written, signed and dated representations for each of the listed executives. Please ignore the last sentence (this 2025 Form 990 was mailed on 5/2/26, rather than electronically filed, in order to include each of the nine written, signed and dated representations--but the IRS rejected and returned the mailed filing on 7/2/26--so now it is electronically filed without the nine written, signed and dated representations.) Form 990, Part VI, Section A, Line 6 Indiana Members Credit Union is owned by its members, who are the depositors with at least $5 in a "Membership Savings Account". Form 990, Part VI, Section A, Line 7a The members of Indiana Members Credit Union elect its Board of Directors after the candidates are slated by the Nominating Committee. Form 990, Part VI, Section B, Line 11b The Board of Directors selects a board member to review Form 990 prior to its filing each year by the CFO. Currently the Board Treasurer performs this review. Form 990, Part VI, Section B, Line 12c Indiana Members Credit Union's General Counsel requires board members and executive officers annually to disclose potential conflicts of interest, which he reviews for actionable items. The Internal Audit Department also structures audits to look for conflicts of interest. The Internal Audit Department reports findings to the Supervisory Committee. Form 990, Part VI, Section B, Line 15 The Board of Directors reviews and approves the CEO's annual salary. During this review the board uses comparable data from the Credit Union Executive Society's annual compensation survey. Minutes are taken regarding related board discussions. This process was last conducted in July of 2025. Form 990, Part VI, Section C, Line 19 Indiana Members Credit Union's governing documents (charter & bylaws) are made available upon request, as is the conflict of interest policy. Unaudited monthly financial statements are posted by the 10th of the following month at each branch location, and interested parties may photocopy them. Audited financial statements, as of June 30 fiscal year-end, are available (after October 31 of that same year) upon request. Form 990, Part XI, Line 9 In 2025 Indiana Members Credit Union's deposits increased by $183,387,821, thus increasing net assets by that amount. Indiana Members Financial Services Inc 835 N College Avenue Suite 1120 Indianapolis IN 46202 351905210 inactive IN N/A C 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 This 2025 Form 990 was mailed on 5/2/26, rather than electronically filed. It was mailed in order to include each of the nine written, signed and dated representations referred to at the end of Schedule L's Supplemental Information (Schedule L - Part V). Triscend NP, the provider of "collateral assignment split dollar" ("CASD") plans throughout the United States, including ours, had advised us that the nine written, signed and dated representations must be included with this 2025 Form 990. And mailing the return was the method of doing this. Due to the IRS' rejection of the mailed version of this 2025 Form 990, it is now being electronically filed, without including the nine written, signed and dated representations. If needed by the IRS, documentation exists to prove that the original return was mailed on 5/2/26 at the Zionsville, Indiana, Post Office.