We’re always looking for new ways to add value for our members. Whether it’s offering savings on community events through our Member Advantages program, making it easier for you to bank on your own time or helping make your dream home a reality… we’re here for you on every step of your financial journey. Keep scrolling to check out just how much we impacted our communities in 2022.
We became Pathfinders for ...
You banked on your time.
When you weren't in branch, you were on your devices, banking on your time. Online banking welcomed 13,307 new users. In total, 69,656 of you are active banking users, an increase of 2.6% from 2021. 9,255 of you were new to using our mobile app for your banking, totaling 53,924 active app users. And when it came to depositing checks using your mobile devices, 201,873 checks were sent to IHMVCU accounts electronically.
In a world where scammers are getting savvier by the minute, you protected yourself against credit card fraud using IHMVCU's Card Controls. In 2022, 8,050 members enrolled in Card Controls with 16,269 members actively using this feature to turn off their card temporarily, set limits on card spending and track activity with real-time alerts.
This feature has become SO popular that overall, we saw a 78% increase compared to 2021! Want to learn more about it? Check out the video below.
Not only are you banking on your own time, but also in your own way:
Spending was up 37% with you swiping your debit cards 31,783,971 times, totaling $1,492,450,527 in purchases.
When it came to credit cards at the consumer level, you swiped your cards 2,163,989 times, totaling $133,070,885 in purchases. Our business clients used their corporate cards 51,606 times in 2022, racking up $6,971,661 in business purchases.
Mobile Wallet transactions accounted for 7% of all transactions at the end of the year.
Our Member Advantage program saved you $240,175
We continued to partner with local businesses to save members money around our communities. 16,887 members took advantage of this program, amounting to a whopping $240,175 in savings on drive-in theatre tickets, car washes, baseball and hockey games, pumpkin patches, local craft beer, swimming pools and more.
That's a lot of savings, right? But how much have we saved you since the Member Advantages program started in 2016? Drumroll please ...
That’s right, we’ll pass $1 MILLION in savings onto you by this summer.
Not only did we save our members money on local attractions, we also helped dispose of their sensitive documents. Throughout the year we hosted three Shred Days, where we collected (and safely disposed of) more than 14,500 lbs. of sensitive documents – 2,500 lbs. more than 2021.
The savings just kept popping when we gave away 5,925 bags of our custom Move Up Mix popcorn from G’s Gourmet Popcorn and JT’s CarmelKorn Station.
We were happy to support the people and places in our communities.
One of our biggest missions has always been giving back to the communities we call home. Through our Community Funding Committee, CU Kind Month, Giving Tuesday, Pathfinder Purpose and MLK Center GIFTback, we worked together to improve the financial well-being of our members, team members and communities we serve.
We donated our time
We donated funds
We supported a lot of organizations
Community Funding Committee
Our Community Funding Committee consists of 13 team members that meet every month to review the many worthy donation requests we receive.
We're proud to report that we donated $24,644 more than in 2021. And it was worth every penny.
CU Kind Month
In October, we participated in CU Kind Month. This credit union initiative focused on people helping people. 170 members of the IHMVCU team helped 17 community organizations/events for a total of 423 hours of donated community time.
Giving Tuesday
We also gave $7,000 to seven nonprofits for Giving Tuesday.
We asked you and the community to nominate an additional nonprofit that would receive a donation from IHMVCU. We were touched by the response rate.
In total, you submitted 1,882 votes with 312 of those as write-in nominations for a 7th nonprofit.
Pathfinder Purpose
Our Pathfinder Purpose program donated $3,000 in 2022.
Many of our team members are involved in a variety of community organizations and love to give back. In 2022, we launched Pathfinder Purpose, giving our team members a unique opportunity to nominate a worthy organization each month to receive $250.
MLK Center IHMVCU Holiday Party GIFTback
IHMVCU team members generously and proudly raised $4,454 in donations to be contributed to the Martin Luther King Center to help invest in youth programs to support future leaders in our communities.
We were honored as the Best Business Partner of the Congolese Community
In July, Galesburg recognized the diversity that makes them a great community with the first annual Lipanda Day — a day to celebrate and introduce the local community to Congolese culture through song, dance, clothing and delicious food.
Our team had the best time and was incredibly honored to receive an award for being a Best Business Partner to the Congolese community.
We connected digitally
We connected in new and exciting ways like introducing Instagram Reels as another way to communicate with you. Make sure you follow us for exciting and educational content!
We helped members with their educational aspirations.
2022 was our 23rd year of honoring students who stand out in their schools and communities. We had 212 applications and helped 13 students pay for school by awarding $30,000 in scholarships. Since it started, our Cash for Class Scholarship Program has awarded $370,000 to 300 students.
1,125 of you took the time to check out our Compass quizzes. The playlist you liked best was Investing in Your Future. Compass is a FREE resource for all to help you plan, prepare and make the right financial decisions for your future.
Pathfinder Magazine
We printed 27,706 copies of Pathfinder Magazine, which can be found every quarter in your nearest branch location. Did you know you can also access the publication digitally? In fact, 75,620 of you read digital Pathfinder this year.
104 people started their careers with IHMVCU in 2022
IHMVCU continued to be a career opportunity, adding 104 smiling faces to our team in 2022. $23,155 was awarded in tuition reimbursement and 283 community service hours were recorded. Not to mention, our team members focused on their physical health and we supported them with $11,232 awarded in fitness reimbursement!
IHMVCU is a great place to build your career, but don't take our word for it ...
It's a fun place to work with great people all around. No one person is too big or too important for anyone. It truly does have a family feel to it. They also care about the community and giving back to their members. Makes it a special place.
I love that the bottom line is our membership, not corporate profits or maximizing the company stock price. Our members know that serving them well is our top priority.
I enjoy helping members get back on track with their accounts and alleviating stress. Having been there myself, it's a great feeling to experience someone going out of their way to be kind and provide all options. I want to give back what I received.
Did you know our team reviews ALL applications that come in? No robots or automatic sorting for us!
Interested in Moving Up with us?
We’re continually humbled by your gratitude, and this year was no different. You honored us by naming IHMVCU for the following awards:
2021-2022 Locals Love Us Quad Cities
Best Banking – 1st place (10 years running!)
Best Mortgages and Real Estate Loans – 1st place
Best Personal Loans – 1st place
2022 Quad-City Times Readers’ Choice Award Best Credit Union (fourth year in a row)
Best Credit Union in Knox County for 2022
There’s still a lot of stress surrounding the unknown these days, but one constant you can count on is IHMVCU. After all, you’re the one and only reason we exist, and being your financial pathfinder continues to be our greatest privilege.
We helped you along your financial journey in many ways this past year:
First by welcoming 17,207 new members, bringing our total membership to 143,860.
By supporting you with some of those big purchases like your family car, your much-needed home improvement project and that trip you’ve been itching to take since before COVID – lending more than $600 million dollars through 22,122 consumer loans.
But it's more than new members and lending money to help ease the stresses along your financial journey. It’s giving back to members for trusting us – nearly $1.5 million in rebates, rewards and incentives, and more than $11 million paid out in dividends.
Helping you also meant making life easier for you. We grew our ITM fleet to better serve you, with new machines at our East Moline and West Davenport locations. Pathfinder Purpose, a new initiative empowering our team members to give back, was launched. IHMVCU contributes monthly donations on behalf of team members to their favorite community nonprofits. Speaking of giving back, did you know 2022 was our biggest year for Member Advantages? Members received nearly $250,000 in the form of Member Advantages, given back to the local businesses in the program.
Last, but not least, we announced IHMVCU is growing! This summer we’re opening a new financial center in Des Moines, where we’ll be able to help even more people Move Up with IHMVCU.
There will undoubtedly be challenges in 2023, but by working together through the strength of a larger organization, we’re well-positioned to address whatever is ahead. Because of your commitment to us, we're committed to you and will continue to meet your lending needs, offer valuable and innovative products and contribute to the communities we serve.
We’re here as your financial pathfinder, dedicated to reducing your financial stress, today, tomorrow and in the years to come.
Move Up with us,
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 2022 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,
We’re committed to holding IHMVCU to the highest standards.
Board & Officers
Sam Kupresin, Board Chair
Chip Irwin Jr., Board Vice Chair and Supervisory
Kristin Berry, Board Secretary, Treasurer and Supervisory
Jeff Carr, Board and Supervisory
Tim Considine, Board and Supervisory
Larry Wiemers, Board and Supervisory
Megan Early, Board and Governance
Melissa Pepper, Board and Governance
Matt Mendenhall, Board and Governance
Tom Terronez, Board and Governance
Tom Kale Jr., Supervisory and Governance
Federally Insured by NCUA | Equal Housing Opportunity | NMLS 463074