2024-05-13T14:34:37-05:00 2023-12-31 390758449 WIPFLI LLP 1502 LONDON ROAD SUITE 200 DULUTH MN 55812 990 2023-01-01 390823125 WESTCONSIN CREDIT UNION WEST 7152353403 3227 SCHNEIDER AVENUE SE PO BOX 160 MENOMONIE WI 54751 JERILYN KINDERMAN CFO 7152353403 2024-04-09 1 JERILYN KINDERMAN 999009999 0 MICHAEL J PETERSON CPA P01833529 2187224705 2024-04-09 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z LORA BENRUD 3227 SCHNEIDER AVENUE SE PO BOX 160 MENOMONIE WI 54751 106556770 0 2157 X WESTCONSINCU.ORG X 1938 WI WESTCONSIN CREDIT UNION IS COMMITTED TO HELPING OUR MEMBERS ACHIEVE FINANCIAL SUCCESS. 7 7 499 7 3314374 7644 0 0 74350697 91999012 10529504 11080028 3862686 3360656 88742887 106439696 168452 134100 0 0 39206099 42517201 0 0 0 35719666 47480546 75094217 90131847 13648670 16307849 1937869169 1938899963 1774139404 1744314774 163729765 194585189 X THE ORGANIZATION IS A COOPERATIVE, NONPROFIT CORPORATION, INCORPORATED UNDER WISCONSIN STATE LAW TO ENCOURAGE THRIFT AMONG ITS MEMBERS, CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE COST, AND PROVIDE AN OPPORTUNITY FOR ITS MEMBERS TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. 0 0 WESTCONSIN CREDIT UNION, LIKE ALL CREDIT UNIONS, IS EXEMPT FROM FEDERAL AND MOST STATE TAXES BECAUSE WE ARE A MEMBER-OWNED, NOT FOR PROFIT ORGANIZATION. IN TURN, WE REINVEST INTO OUR ORGANIZATION AND COMMUNITIES. WE ENCOURAGE OUR LEADERS AND EMPLOYEES TO GET INVOLVED IN COMMUNITY CHARITABLE ACTIVITIES AND WORTHWHILE CAUSES, VOLUNTEERING 4,230 HOURS IN 2023. THROUGH PROVIDING FREE FINANCIAL PROGRAMS AND SERVICES TO PROMOTE FINANCIAL EDUCATION AND LITERACY, WESTCONSIN EDUCATED OVER 76,000 STUDENTS IN OVER 250 AREA SCHOOLS. IN 2023, WESTCONSIN PROVIDED LOW-COST FINANCIAL SERVICES TO 120,077 MEMBERS. SERVED MEMBERS' INTERESTS BY ACCEPTING DEPOSITS, GRANTING LOANS, AND INVESTING EXCESS FUNDS IN A PRUDENT MANNER. PROVIDED OVER 20,000 LOANS FOR OVER $479 MILLION TO MEMBERS. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 64808 0 1 499 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X LORA BENRUD 7152353403 3227 SCHNEIDER AVENUE SE PO BOX 160 MENOMONIE WI 54751 GERALD WOLF CHAIRPERSON 5.00 X X 9700 0 0 TOIDD LEIPNITZ VICE CHAIRPERSON 5.00 X X 9700 0 0 KAREN FLUG TREASURER 5.00 X X 9700 0 0 COLLEEN MENSING SECRETARY 5.00 X X 9700 0 0 DALE DAHLKE BOARD MEMBER 5.00 X 9710 0 0 MARK DAHMS BOARD MEMBER 5.00 X 9700 0 0 SARAH NOREEN BOARD MEMBER 5.00 X 9700 0 0 LORA BENRUD CEO 40.00 X 649862 0 77192 JERILYN KINDERMAN CFO 40.00 X 303905 0 75154 KEVIN HALL CIO 40.00 X 225802 0 24008 JIM WOOKEY COO 40.00 X 282834 0 73950 NICOLE YARRINGTON CTO 40.00 X 230115 0 65257 SCOTT GILTNER CLO 40.00 X 268656 0 56780 STEPHANIE RASMUSSEN CXO 40.00 X 213079 0 57826 MICHAEL TOMASEK CIO (THRU MAY 2023) 40.00 X 141628 0 21452 TIMOTHY CARLSON VP - WESTCONSIN INVESTMENT 40.00 X 207445 0 35444 JAMIE GOWER VP - HUMAN RESOURCES 40.00 X 159911 0 43495 RUSSELL BLASIUS SENIOR VP - RETAIL OPERATIONS 40.00 X 175353 0 53812 JAMES WYNN VP - BUSINESS LOANS AND SERVICES 40.00 X 217949 0 61666 KYLE ZIMMER VP - MORTGAGE 40.00 X 164260 0 46376 3308709 0 692412 62 0 1 0 FISERV 255 FISERV DR BROOKFIELD WI 53008 IT SOLUTIONS 2046988 MARKET & JOHNSON 2350 GALLOWAY STREET EAU CLAIRE WI 54702 BUILDING CONTRACTOR 1927526 NCR CORPORATION 3095 SATELLITE BLVD BUILDING 800 DULUTH GA 30096 MOBILE AND ONLINE BANKING 1335021 HOEFT BUILDERS INC 2423 RIVERS EDGE DRIVE STE 1 ALTOONA WI 54720 BUILDING CONTRACTOR 1276070 DIAMOND MARKETING COMPANY 2220 STONEBRIDGE ROAD WEST BEND WI 53095 MARKETING SERVICES 534204 37 LOAN INTEREST INCOME 522100 69843060 69843060 FEE INCOME 522100 18791372 18744234 47138 MORTGAGE SERVICING INCOME 522100 1799208 1799208 MEMBER FINANCIAL INCOME 525990 890092 890092 FANNIE MAE LOAN SALES 522100 675280 675280 91999012 10875108 10875108 93420 0 93420 93420 93420 321994 -18786 135860 18786 186134 204920 204920 REALTY COMMISSION INCOME 531390 2386487 2386487 TITLE SERVICE INCOME 531390 880749 880749 3267236 106439696 91951874 3314374 11173448 120100 14000 2835413 28647246 3136302 5859657 2038583 541 162318 99434 1064089 1721387 2309885 4679478 1900229 295218 336533 844193 2928855 DIVIDENDS ON MEMBER ACC 18577438 LOAN & CLOSING COSTS 4935962 DEBIT CARD EXPENSES 3430524 PROVISION FOR LOAN LOSS 2541676 1652786 90131847 7939102 7596795 113096581 59530670 4567103 5538824 1238656841 1358374015 2392879 12519979 64635521 27813446 35279839 36822075 504067561 437637557 6603112 6982326 4776205 4688485 20489946 9209237 1937869169 1938899963 32289827 32149947 1081430 661265 1740768147 1711503562 1774139404 1744314774 X 0 0 0 0 163729765 194585189 163729765 194585189 1937869169 1938899963 X 16307849 8581792 5965783 X 0 0 0 0 1 X 5576659 5576659 41014144 13215871 27798273 316768 316754 14 17727950 14280821 3447129 36822075 DEPOSITS 1671116905 FHLB NOTE PAYABLE 40180352 ALLOWANCE FOR CREDIT LOSSES 206305 1711503562 PART IV, LINE 2B: THE ORGANIZATION IS THE TRUSTEE OF CERTAIN MEMBER'S ESCROW FUNDS AND HAS RESPONSIBILITY FOR THE ADMINISTRATION AND DISTRIBUTIONS OF THESE FUNDS FOR MEMBERS OF THE ORGANIZATION. 1 UNITED WAY OF DUNN COUNTY PO BOX 3266 MENOMONIE WI 54751 396099810 501(C)(3) 18000 0 GENERAL DONATION/ASSISTANCE STEPPING STONES OF DUNN COUNTY INC 1602 STOUT RD MENOMONIE WI 54751 391608607 501(C)(3) 16000 0 PARTNERSHIP DONATION UW-RIVER FALLS FOUNDATION 410 S 3RD STREET RIVER FALLS WI 54022 396064630 501(C)(3) 12500 0 SCI TECH DONATION NORTHWOOD TECHNICAL COLLEGE FOUNDATION INC 1900 COLLEGE DR RICE LAKE WI 54868 391313438 501(C)(3) 12500 0 MED LAB REMODEL THE SALVATION ARMY BARRON COUNTY 505 W 8TH STREET NEW RICHMOND WI 54017 362167910 501(C)(3) 10000 0 GENERAL DONATION/ASSISTANCE BARRON CHETEK YOUTH HOCKEY ASSOCIATION 525 E BIRCH AVE BARRON WI 54812 391809822 501(C)(3) 10000 0 GENERAL DONATION/ASSISTANCE 6 0 SCHOLARSHIPS 14 14000 PART I, LINE 2: THE ORGANIZATION KEEPS TRACK OF THE ORGANIZATIONS THAT RECEIVE DONATIONS. X X X X 0 0 0 LORA BENRUD CEO 602869 0 36956 0 10037 0 49500 0 27692 0 727054 0 0 0 JERILYN KINDERMAN CFO 285295 0 17710 0 900 0 44415 0 30739 0 379059 0 0 0 JIM WOOKEY COO 264727 0 16217 0 1890 0 41537 0 32413 0 356784 0 0 0 SCOTT GILTNER CLO 250900 0 15176 0 2580 0 26278 0 30502 0 325436 0 0 0 NICOLE YARRINGTON CTO 215535 0 13530 0 1050 0 33896 0 31361 0 295372 0 0 0 JAMES WYNN VP - BUSINESS LOANS AND SERVICES 204451 0 12598 0 900 0 32064 0 29602 0 279615 0 0 0 STEPHANIE RASMUSSEN CXO 199745 0 12284 0 1050 0 30963 0 26863 0 270905 0 0 0 KEVIN HALL CIO 214216 0 11346 0 240 0 21350 0 2658 0 249810 0 0 0 TIMOTHY CARLSON VP - WESTCONSIN INVESTMENT 205017 0 230 0 2198 0 30858 0 4586 0 242889 0 0 0 RUSSELL BLASIUS SENIOR VP - RETAIL OPERATIONS 162374 0 11089 0 1890 0 25748 0 28064 0 229165 0 0 0 KYLE ZIMMER VP - MORTGAGE 153864 0 9626 0 770 0 23906 0 22470 0 210636 0 0 0 JAMIE GOWER VP - HUMAN RESOURCES 149782 0 9279 0 850 0 15818 0 27677 0 203406 0 0 0 MICHAEL TOMASEK CIO (THRU MAY 2023) 133895 0 7618 0 115 0 20045 0 1407 0 163080 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE FOLLOWING PERSONS SHALL BE ELIGIBLE FOR MEMBERSHIP IN THIS CREDIT UNION: 1. PERSONS RESIDING OR EMPLOYED IN THE FOLLOWING WISCONSIN COUNTIES; BARRON, BUFFALO, BURNETT, CHIPPEWA, CLARK DUNN, EAU CLAIRE, JACKSON, PEPIN, PIERCE, PINE, POLK, RUSK, ST. CROIX, SAWYER, TAYLOR, TREMPEALEAU, AND WASHBURN. 2. PERSONS RESIDING OR EMPLOYED IN THE FOLLOWING MINNESOTA COUNTIES; ANOKA, CHISAGO, DAKOTA, GOODHUE, HENNEPIN, ISANTI, RAMSEY, SCOTT, WABASHA, AND WASHINGTON. 3. PERSONS WHO ARE EMPLOYEES, MEMBERS, OR PATRONS OF ANY COOPERATIVE WITH A PRINCIPAL PLACE OF BUSINESS IN ANY OF THE ABOVE COUNTIES IN WISCONSIN OR MINNESOTA. 4. PERSONS WHO ARE EMPLOYEES, STUDENTS, OR ALUMNI OF ANY UNIVERSITY LOCATED IN ANY COUNTY LISTED IN (B)(1) OR (2) ABOVE, INCLUDING UW-BARRON, UW-EAU CLAIRE, UW-RIVER FALLS, AND UW-STOUT. 5. PERSONS WHO ARE EMPLOYEES, STUDENTS OR ALUMNI OF ANY TECHNICAL COLLEGE LOCATED IN ANY COUNTY LISTED IN (B)(1)(2) ABOVE, INCLUDING CHIPPEWA VALLEY TECHNICAL COLLEGE, DAKOTA COUNTY TECHNICAL COLLEGE, AND WISCONSIN INDIANHEAD TECHNICAL COLLEGE. 6. MEMBERS OF OR CONTRIBUTORS TO ANY ALUMNI ASSOCIATION OR FOUNDATION ASSOCIATED WITH A UNIVERSITY OR TECHNICAL COLLEGE LOCATED IN ANY COUNTY LISTED IN (B)(1) OR (2) ABOVE. 7. ANY EMPLOYEE OF THIS CREDIT UNION. 8. MEMBERS OF THE IMMEDIATE FAMILY OF ALL PERSONS ELIGIBLE FOR MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION HAS MEMBERS WHO ELECT MEMBERS OF THE GOVERNING BODY ANNUALLY. THE MEMBERS HAVE THE ABILITY (WITH THREE-FOURTHS VOTE) TO REMOVE ANY DIRECTORS OR AMEND THE BYLAWS. FORM 990, PART VI, SECTION A, LINE 7B AT ANY MEETING OF THE MEMBERS, IF THE NOTICE SO INDICATES, A MAJORITY OF MEMBERS PRESENT MAY DIRECT THE BOARD TO DO ANY OF THE FOLLOWING: 1. CONSIDER IMPLEMENTING ANY POLICY PROPOSED BY THE MEMBERS. 2. RECONSIDER ANY DECISION OF THE DIRECTORS, OFFICERS, OR COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B THE VP OF ACCOUNTING AND LEAD ACCOUNTANT ACCUMULATES ALL 990 AND 990-T INFORMATION, INCLUDING THE UBIT CALCULATIONS AND PROVIDES TO THE ORGANIZATION'S TAX PREPARER TO PROVIDE THE TAX RETURNS. THESE DOCUMENTS ARE REVIEWED BY THE CFO. THE 990 AND THE 990-T ARE REVIEWED BY THE GOVERNING BODY AND SENIOR MANAGEMENT PRIOR TO SUBMISSION TO THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CONFLICT OF INTEREST POLICY COVERS ALL EMPLOYEES AND BOARD MEMBERS. IT IS REVIEWED ANNUALLY BY THE GOVERNING BODY AND EMPLOYEES. THE GOVERNING BODY VERIFIES EMPLOYEES ARE IN COMPLIANCE WITH CONFLICT OF INTEREST POLICY. CONFLICTS OF INTEREST ARE DETERMINED AT THE CEO, CORPORATE OFFICERS, AND THE BOARD LEVEL IF NECESSARY. THE CONFLICT OF INTEREST POLICY COVERS ALL RESTRICTIONS ARISING IF A CONFLICT OF INTEREST EXISTS. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION RECEIVES SEVERAL ANNUAL SALARY SURVEYS AND SUBSCRIBES TO SERVICES FROM A COMPANY SPECIALIZING IN COMPENSATION TO REVIEW PAY STRUCTURE AND CONTINUALLY PROVIDE THE CREDIT UNION WITH ANNUAL PAY COMPARISONS TO SIMILAR POSITIONS IN THE INDUSTRY. THE ORGANIZATION'S BOARD OF DIRECTORS HAS FINAL APPROVAL OVER THE CEO'S COMPENSATION. THE BOARD OF DIRECTORS ALSO DISCUSS AND APPROVE THE COMPENSATION FOR THE REMAINING EXECUTIVE LEVEL POSITIONS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN OTHER COMPREHENSIVE INCOME 83,271. OTHER ADJUSTMENT TO UNDIVIDED EARNINGS 5,882,512. WESTCONSIN REALTY LLC 3333 SCHNEIDER AVENUE SE PO BOX 160 MENOMONIE WI 54751 200157525 REAL ESTATE BROKERAGE SERVICES WI 2386488 2787663 WESTCONSIN CREDIT UNION WESTCONSIN TITLE SERVICES LLC 3333 SCHNEIDER AVENUE SE PO BOX 160 MENOMONIE WI 54751 455377540 GENERAL TITLE SERVICES WI 880750 1970895 WESTCONSIN CREDIT UNION