2024-10-14T14:25:01-05:00 2023-12-31 390912608 HAWKINS ASH CPAS LLP 520 N BROADWAY SUITE 250 GREEN BAY WI 54303 990 2023-01-01 390860994 SIMPLICITY CREDIT UNION SIMP 7153873702 222 E UPHAM AVENUE MARSHFIELD WI 544490790 NICHOLAS FABER PRESIDENT/CEO 7153873702 2024-09-16 1 1 JEFFREY DANEN CPA P01236582 9203369850 2024-09-16 2023 2024-10-15 13:58:12Z NICHOLAS FABER 222 UPHAM AVENUE MARSHFIELD WI 54449 26525317 0 X WWW.SIMPLICITY.COOP X 1949 WI A NONPROFIT MEMBER-OWNED THRIFT INSTITUTION ORGANIZED TO PROVIDE FINANCIAL SERVICES TO INDIVIDUALS. OPERATIONS ARE PRIMARILY RELATED TO HOLDING DEPOSITS FOR AND MAKING LOANS TO MEMBERS. 7 7 150 9 113255 0 0 0 17697664 21749887 1956556 4449314 88182 122451 19742402 26321652 2000 6000 0 0 8681192 8841376 0 0 0 9062775 14068859 17745967 22916235 1996435 3405417 432153101 461117108 393526787 418759786 38626314 42357322 A NONPROFIT MEMBER-OWNED THRIFT INSTITUTION ORGANIZED TO PROVIDE FINANCIAL SERVICES TO INDIVIDUALS. OPERATIONS ARE PRIMARILY RELATED TO HOLDING DEPOSIT FOR AND MAKING LOANS TO MEMBERS. 0 0 HOLDING DEPOSITS FOR AND MAKING LOANS TO MEMBERS 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 8139 0 1 150 1 1 1 0 0 0 0 0 0 0 0 0 X 7 7 0 0 1 0 1 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X NICHOLAS FABER 7153873702 222 UPHAM AVENUE MARSHFIELD WI 544490790 MARK PAGE CHAIR 1.00 X X 1650 0 0 HERB STEPHANI DIRECTOR 0.50 X 540 0 0 TOM MCCARTEN DIRECTOR 0.50 X 590 0 0 SUE SHULFER SECRETARY/TREASURER 0.75 X X 690 0 0 BOBBI BRADLEY DIRECTOR 0.50 X 615 0 0 IILEE PEDERSON DIRECTOR 0.50 X 755 0 0 PAUL HAUFFE DIRECTOR 0.50 X 590 0 0 NICHOLAS FABER PRESIDENT/CEO 40.00 X 319889 0 10341 JAMES NOWAK CHEIF FINANCIAL OFFICER 40.00 X 189320 0 5794 KELLY KORTH CHIEF STRATEGIC OFFICER 40.00 X 187877 0 3052 JASON BUCHINGER FINANCIAL ADVISOR 40.00 X 179457 0 6886 JEN STANTON CHIEF REVENUE OFFICER 40.00 X 112952 0 4184 RICHARD SZABO VP OF INFORMATION TECHNOLO 40.00 X 147354 0 4377 SANDY RUETH MORTGAGE LENDER 40.00 X 123166 0 3735 BEN BAUER EXECUTIVE DIRECTOR EXCLAMATION 40.00 X 111606 0 4789 1377051 0 43158 11 0 1 0 FISERV 75 REMITTANCE DRIVE SUITE 1649 CHICAGO IL 60675 DEBIT CARD PROCESSING, COMPUTER MAIN FRA 1652728 Q2 PO BOX 205970 DALLAS TX 75320 ONLINE/HOME BANKING 594889 MERIDIAN LINK PO BOX 846822 LOS ANGELES CA 900846822 CONSUMER APPLICATIONS 170000 VISA PO BOX 8999 SAN FRANCISCO CA 94128 VISA OPERATION CERTIFICATE 147837 SPECTRUM BUSINESS PO BOX 94188 PALATINE IL 60094 PHONE/INTERNET PROVIDER 135918 5 INTEREST ON LOANS 522100 16519659 16519659 INTERCHANGE INCOME 522100 1890633 1890633 INSURANCE COMMISSION AND FEES 522100 1664127 1664127 FEE INCOME 522100 1342555 1331933 10622 OTHER OPERATING 522100 332913 332913 21749887 4422979 4422979 16296 0 16296 16296 16296 230000 203665 26335 26335 26335 MANAGEMENT SERVICES 522100 102633 102633 OTHER REV 522100 3522 3522 106155 26321652 21785418 113255 4422979 6000 702515 5505465 397135 1779255 457006 157352 45 109944 176385 481405 1874354 582703 428719 48763 127241 3005402 598531 108122 DIVIDENDS ON SHARES 3230339 DEBIT/CREDIT CARD EXPEN 904301 PROVISION FOR CREDIT LO 750000 LOAN ORIGINATION AND SE 625945 859308 22916235 4746022 5155314 40930306 13605107 243426 199605 320648403 374075910 24033 42167 837176 2741825 18970138 8944614 8154514 10025524 46984861 44965192 4639241 5314241 4945119 4992223 432153101 461117108 20117521 6543927 430667 451357 20000000 372978599 391764502 393526787 418759786 X 0 0 0 0 38626314 42357322 38626314 42357322 432153101 461117108 X 3405417 346361 -20770 X 0 1 X 1 0 0 1 X 1421454 1421454 10832189 3301394 7530795 6384371 5334226 1050145 332124 308994 23130 10025524 SHARES 391764502 391764502 X PART IV, LINE 2B: THE CREDIT UNION MAINTAINS ESCROW ACCOUNTS ASSOCITED WITH REAL ESTATE MORTGAGES (PROPERTY TAXES AND INSURANCE) FOR MEMBERS. PART X, LINE 2: GAAP REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE CREDIT UNION AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE CREDIT UNION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD BE SUSTAINED UPON EXAMINATION BY A TAXING AUTHORITY. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CREDIT UNION AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2023 AND 2022, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE CREDIT UNION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE CREDIT UNION WILL RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED. 1 X X X 0 0 0 NICHOLAS FABER PRESIDENT/CEO 252239 0 67650 0 0 0 9141 0 1200 0 330230 0 0 0 JAMES NOWAK CHEIF FINANCIAL OFFICER 161248 0 28072 0 0 0 3994 0 1800 0 195114 0 0 0 KELLY KORTH CHIEF STRATEGIC OFFICER 155373 0 32504 0 0 0 1252 0 1800 0 190929 0 0 0 JASON BUCHINGER FINANCIAL ADVISOR 0 0 179457 0 0 0 5686 0 1200 0 186343 0 0 0 RICHARD SZABO VP OF INFORMATION TECHNOLO 125467 0 21887 0 0 0 4377 0 0 0 151731 0 0 0 FORM 990, PART VI, SECTION A, LINE 4 EXPANDED THE FIELD OF MEMBERSHIP WITH BYLAWS FOR MERGER. FORM 990, PART VI, SECTION A, LINE 6 MEMBERS ARE INDIVIDUALS LIVING OR WORKING IN ADAMS, BROWN, CALUMET, CLARK, FOND DU LAC, MARATHON, OUTAGAMIE, PORTAGE, SHAWANO, TAYLOR, TREMPEALEAU, WAUPACA, WAUSHARA, WINNEBAGO, AND WOOD COUNTIES AND THE TOWNSHIP OF ALMA, JACKSON COUNTY; EMPLOYEES OF THE CP RAIL SYSTEMS, COPPS COMPANY AND CORPORATION, DELTA DENTAL PLAN OF WISCONSIN, DONALDSON COMPANY, CORPORATE EXPRESS, HERRSCHNERS, INC., NAPA DISTRIBUTION CENTER, SKYWARD, STEEL KING INDUSTRIES, INC., SNE CORPORATION, SUNRISE MEDICAL, CITY OF NEENAH, NEENAH JOINT SCHOOL DISTRICT, NEENAH WATER UTILITY, ANY MUNICIPALITY WHO ENGAGES IN PROVIDING SERVICES TO THE CITY OF NEENAH, CONTRACTED TO WORK FOR THE CITY OF NEENAH OR NEENAH JOINT SCHOOL DISTRICT, AND STOCKHOLDERS OR PATRONS OF THE TOMORROW VALLEY CO-OP. FORM 990, PART VI, SECTION A, LINE 7A BOARD OF DIRECTORS IS ELECTED BY MEMBERS FORM 990, PART VI, SECTION B, LINE 11B THE CEO AND CFO REVIEW THE 990. A COPY IS ALSO PROVIDED TO THE BOARD OF DIRECTORS AT A SUBSEQUENT BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION HAS BOTH A FRAUD AND ANTI-BRIBERY ACT POLICY IN THE HANDBOOK THAT EMPLOYEES ARE REQUIRED TO ACKNOWLEDGE EACH YEAR THAT ADDRESES PREFERENTIAL TREATMENT, THE ACCEPTANCE OF GIFTS FROM A THIRD PARTY TO DERIVE SPECIAL FAVORS, AND UNAUTHORIZED DISCLOSURE OR MANIPULATION OF MEMBER ACCOUNT INFORMAITON. ALL BOARD MEMBERS MUST SIGN A CODE OF CONDUCT AGREEMENT AND CONFLICT OF INTEREST STATEMENT AND DISCLOSURE ANNUALLY AS PART OF THE REORGANIZATIONAL MEETING. FORM 990, PART VI, SECTION B, LINE 15 VARIOUS SOURCES OF COMPARATIVE DATA ARE USED AND RANGES ARE DETERMINED FOR EACH POSITION. THESE RANGES ARE REVIEWED AGAINST INDUSTRY STANDARDS EACH YEAR AND AJUSTED AS NECESSARY. THE BOARD REVIEWS CEO ANNUALLY AND THE CEO REVIEWS PERFORMANCE OF KEY EMPLOYEES ANNUALLY. FORM 990, PART VI, SECTION C, LINE 18 UPON REQUEST FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AND AN ANNUAL REPORT IS PRINTED FOR EACH YEAR-END. ANY OTHER REQUESTS FOR INFORMATION WOULD BE SUBMITTED TO THE PRESIDENT/CEO OR BOARD CHAIRMAN FORM 990, PART XI, LINE 9: ADOPTION OF ASC 326 -20,770. EXCLAMATION SERVICES LLC 103 S CENTRAL AVE MARSHFIELD WI 54449 352636767 ADMINISTRATIVE AND SUPPORT SERVICES WI 105935 292796 SIMPLICITY CREDIT UNION