2023-10-26T11:41:36-05:00 2022-12-31 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2022-01-01 390671465 UNIVERSITY OF WISCONSIN CREDIT UNION UNIV 6082325000 3500 UNIVERSITY AVE MADISON WI 53705 BRAD MCCLAIN EXEC VP/CFO 6082325000 2023-10-12 1 BRAD MCCLAIN 999009999 0 KENLEY PENNER P00740260 2695674500 2023-10-12 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z UW CREDIT UNION PAUL KUNDERT 3500 UNIVERSITY AVE MADISON WI 53705 753744304 0 X WWW.UWCU.ORG X 1931 WI THE UNIVERSITY OF WISCONSIN CREDIT UNION IS A FEDERALLY INSURED FINANCIAL INSTITUTION THAT PROVIDES CONSUMER FINANCIAL PRODUCTS AND SERVICES TO MEET THE MONEY MANAGEMENT GOALS OF ITS MEMBERS. 9 9 1131 16 4214453 0 0 0 167460386 180761273 48795723 25782266 268520 112817 216524629 206656356 792104 1815 0 0 73597985 73047456 0 0 0 75986862 110923697 150376951 183972968 66147678 22683388 4833919839 5145209271 4388189471 4706821120 445730368 438388151 X THE MISSION OF THE UNIVERSITY OF WISCONSIN CREDIT UNION (UWCU) IS TO ENCOURAGE THRIFT AMONG ITS MEMBERS, TO CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST, TO PROVIDE AN OPPORTUNITY FOR ITS MEMBERS TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS AND TO PERFORM THE FUNCTIONS AND EXERCISE THE POWERS DESIGNATED TO THE CREDIT UNION UNDER APPLICABLE LAW. 0 0 UWCU EXTENDED MORE THAN $1.1 BILLION IN CONSUMER CREDIT - ENABLING MEMBERS TO CONTINUE BUILDING THEIR LIVES THROUGH HOME IMPROVEMENTS, RELIABLE VEHICLES, CONTINUING EDUCATION AND MUCH MORE. WHEN HIGHER MORTGAGE RATES IMPACTED FIRST-TIME HOMEBUYERS, WE OFFERED ADJUSTABLE-RATE LOANS, WITH INITIAL RATES FIXED FOR AS LONG AS 15 YEARS, SO BUYERS COULD CLOSE ON THEIR HOMES WITH THE ASSURANCE OF FUTURE FLEXIBILITY. IN 2022, UWCU WELCOMED 18,436 NEW MEMBERS AND OPENED 17,680 NEW CHECKING ACCOUNTS. THE CREDIT UNION'S HONEST AND STRAIGHTFORWARD BUSINESS PRACTICES CONTINUE TO DRIVE MEMBERSHIP AND RELATIONSHIP GROWTH. AT THE END OF 2022, UWCU SERVED OVER 328,000 MEMBERS AND OVER 261,000 CHECKING ACCOUNTS. UWCU CONTINUES TO FOCUS ON DELIVERING FINANCIAL SERVICES IN A TRUSTWORTHY MANNER. UWCU CONTINUES TO PROVIDE CREDIT CONSULTATION SERVICES, WHICH IS A FREE SERVICE THAT BENEFITS ANY MEMBER. MEMBERS CAN MEET WITH A FINANCIAL SPECIALIST TO REVIEW THEIR CREDIT REPORT, BETTER UNDERSTAND THEIR CREDIT SCORE, OR RESEARCH OPTIONS TO LOWER RATES ON EXISTING LOANS. UWCU OFFERS A STUDENT LOAN REFINANCE PRODUCT WHICH ALLOWS MEMBERS TO REFINANCE MULTIPLE LOANS INTO ONE WITH A LOW RATE AND ONE EASY PAYMENT. UWCU OFFERS LOW-LIMIT, LOW-RATE CREDIT CARDS FOR YOUNG ADULTS TO HELP THEM BUILD THEIR CREDIT RESPONSIBILITY, AND AFFORDABLE NO ANNUAL FEE SECURED CREDIT CARDS FOR MEMBERS WHO NEED TO REPAIR THEIR CREDIT. UWCU OFFERS AN OVERDRAFT LINE-OF-CREDIT PROTECTION WITH NO ANNUAL FEE. MEMBERS HAVE ACCESS TO THEIR CREDIT SCORES THROUGH WEB BRANCH. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 119717 0 1 1131 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X BRAD MCCLAIN 6082325000 3500 UNIVERSITY AVE MADISON WI 53705 X STEVEN RICK DIRECTOR - CHAIR 3.00 X X 900 0 0 JEFFREY RUSSELL DIRECTOR - VICE CHAIR 3.00 X X 900 0 0 PHYLLIS KING DIRECTOR - TREASURER 3.00 X X 900 0 0 KELLY WILSON DIRECTOR - SECRETARY 3.00 X X 900 0 0 MARION BROWN DIRECTOR 2.00 X 900 0 0 MICHAEL CARR DIRECTOR 2.00 X 900 0 0 MICHAEL COLLINS DIRECTOR 2.00 X 900 0 0 LEANA NAKIELSKI DIRECTOR 2.00 X 900 0 0 TERRY WARFIELD DIRECTOR 3.00 X 900 0 0 PAUL KUNDERT PRESIDENT & CEO 45.00 X 1006369 0 427310 BRAD MCCLAIN EXECUTIVE VP & CFO 45.00 X 499518 0 55303 JONATHAN BUNDY CLO & ASST CORP SECRETARY 45.00 X 348658 0 56716 ROB VAN NEVEL EXECUTIVE VP & COO 45.00 X 482668 0 40407 RALPH BUELLING SVP AND CIO 45.00 X 408387 0 55846 ANNE NORMAN SVP & CMO 45.00 X 324398 0 61337 PAM PETERSON SVP & CHRO 45.00 X 296922 0 53702 JULIO RIOS VP OF MORTGAGE LENDING 45.00 X 287384 0 52059 AMY KRIEBS VP MEMBER SALES & SERVICE 45.00 X 220204 0 41093 DAVID MICKELSON VP MSO & CARD OPS 45.00 X 210295 0 18986 CARMA ATKINSON VP CARD PRGM & LOSS PREVENTION 45.00 X 170736 0 46670 TEO TRANDAFIR AVP OF WEALTH MGMT 45.00 X 373510 0 61308 AARON LAWRY WEALTH ADVISOR 40.00 X 299393 0 25774 GREG YELK VP INFO TECHNOLOGY 45.00 X 273645 0 48983 JEREMY MARSHALL WEALTH ADVISOR 40.00 X 267654 0 51832 ERIC BANGERTER VP DIGITAL TECHNOLOGY 45.00 X 264613 0 48443 5742454 0 1145769 125 0 1 0 ADRENALINE LLC 195 NEW HAMPSHIRE AVE PORTSMOUTH NH 03801 CONSULTING 1026707 ADAM ALBRECHT THE WEAPONRY LLC 1661 N WATER ST 206 MILWAUKEE WI 53202 CONSULTING 1010813 ENCORE ONE LLC 124 N 121ST STREET WAUWATOSA WI 53226 CLEANING SERVICES 726197 ADAMS OUTDOOR ADVERTISING 102 EAST BADGER RD MADISON WI 53713 ADVERTISING 693101 CENTRIC CONSULTING 1215 LYONS ROAD BUILDING F DAYTON OH 45458 CONSULTING 266895 15 INTEREST ON LOANS 522100 118604977 118604977 CARD AND ATM INTERCHAN 522100 41636694 41458741 177953 LOAN SERVICING FEES 522100 8636562 8636562 INVESTMENT AND INSURAN 522100 7304914 3268414 4036500 SERVICE CHARGES AND FE 522100 4578126 4578126 180761273 19650745 19650745 705600 592783 112817 112817 112817 552626686 546495165 6131521 6131521 6131521 206656356 182678341 4214453 19763562 1815 5173065 54931475 3549323 5031513 4362080 127744 552263 1623033 10404966 6084279 10181507 7445051 246281 493822 17334500 7340059 513599 CREDIT CARD PROCESSING 17986104 LOAN SERVICING EXPENSE 9978188 LOAN LOSS PROVISION 9374454 CARD PROCESSING EXPENSE 8170003 3067844 183972968 27165295 49393653 923889699 279916156 4205204 1755173 2907598611 3422081719 52546848 57401081 264262993 67951150 143601299 196311843 734057514 1096702345 40855369 41647301 4833919839 5145209271 48611125 64830579 7002114 5885957 18652403 17330508 205000000 200000000 4108923829 4418774076 4388189471 4706821120 X 0 0 0 0 445730368 438388151 445730368 438388151 4833919839 5145209271 X 22683388 -27726000 -2299605 X X 0 1 X 1 0 0 1 X 31378682 31378682 103868776 28630554 75238222 15336193 2879980 12456213 36918480 25512129 11406351 76760862 10928487 65832375 196311843 AVAILABLE FOR SALE 484400838 F HELD TO MATURITY 603082104 C FHLB STOCK 9219403 C 1096702345 MEMBER DEPOSITS 4403711142 OUTSTANDING CASHIERS CHECKS 15062934 4418774076 X 178469108 -1478294 -1478294 179947402 26708954 26708954 206656356 157856797 592783 592783 157264014 26708954 26708954 183972968 PART IV, LINE 2B: THE CREDIT UNION MAINTAINS REAL ESTATE ESCROW ACCOUNTS USED TO PAY MEMBERS' REAL ESTATE TAXES AND INSURANCE. PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION DOES, HOWEVER, PAY SALES TAX, PROPERTY TAX, PAYROLL TAXES, AND FEDERAL AND STATE INCOME TAX ON UNRELATED BUSINESS ACTIVITIES. THE INTERNAL REVENUE SERVICE (IRS) AND CERTAIN TAXING AUTHORITIES ARE EVALUATING WHAT, IF ANY, PRODUCTS AND SERVICES PROVIDED BY STATE-CHARTERED CREDIT UNIONS OR THEIR CREDIT UNION SERVICE ORGANIZATIONS ARE SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). THERE IS CURRENTLY VERY LITTLE GUIDANCE IN THE IRS CODE ON WHAT ACTIVITIES SHOULD BE SUBJECT TO UBIT. THE IRS HAS ISSUED CERTAIN TECHNICAL ADVICE MEMORANDUMS IDENTIFYING CERTAIN ACTIVITIES AS BEING SUBJECT TO UBIT. AS A RESULT, AT THIS TIME THERE IS UNCERTAINTY REGARDING WHETHER STATE-CHARTERED CREDIT UNIONS SHOULD PAY INCOME TAX ON CERTAIN TYPES OF NET TAXABLE INCOME FROM ACTIVITIES THAT MAY BE CONSIDERED BY TAXING AUTHORITIES AS UNRELATED TO THE PURPOSE FOR WHICH CREDIT UNIONS WERE GRANTED NON-TAXABLE STATUS. THE TAX LIABILITY RECORDED BY THE CREDIT UNION AS OF DECEMBER 31, 2022 AND 2021 ATTRIBUTED TO UNRELATED BUSINESS ACTIVITIES WAS NOT MATERIAL. PART XI, LINE 2D - OTHER ADJUSTMENTS: MORTGAGE HEDGING VALUATION -2,071,077. RENTAL EXPENSES 592,783. PART XI, LINE 4B - OTHER ADJUSTMENTS: PROVISION FOR LOAN LOSS 9,374,454. INTEREST EXPENSE 17,334,500. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 592,783. PART XII, LINE 4B - OTHER ADJUSTMENTS: PROVISION FOR LOAN LOSS 9,374,454. INTEREST EXPENSE 17,334,500. X 1 1 X 0 1 0 PAUL KUNDERT PRESIDENT & CEO 706737 0 280120 0 19512 0 390430 0 36880 0 1433679 0 0 0 BRAD MCCLAIN EXECUTIVE VP & CFO 339886 0 141913 0 17719 0 28186 0 27117 0 554821 0 0 0 ROB VAN NEVEL EXECUTIVE VP & COO 340325 0 136812 0 5531 0 28168 0 12239 0 523075 0 0 0 RALPH BUELLING SVP AND CIO 304334 0 100110 0 3943 0 28106 0 27740 0 464233 0 0 0 TEO TRANDAFIR AVP OF WEALTH MGMT 148334 0 223971 0 1205 0 27450 0 33858 0 434818 0 0 0 JONATHAN BUNDY CLO & ASST CORP SECRETARY 237133 0 108533 0 2992 0 27862 0 28854 0 405374 0 0 0 ANNE NORMAN SVP & CMO 226182 0 95997 0 2219 0 26767 0 34570 0 385735 0 0 0 PAM PETERSON SVP & CHRO 205911 0 86037 0 4974 0 23797 0 29905 0 350624 0 0 0 JULIO RIOS VP OF MORTGAGE LENDING 192084 0 85997 0 9303 0 25778 0 26281 0 339443 0 0 0 AARON LAWRY WEALTH ADVISOR 40432 0 258614 0 347 0 25043 0 731 0 325167 0 0 0 GREG YELK VP INFO TECHNOLOGY 225333 0 43044 0 5268 0 24636 0 24347 0 322628 0 0 0 JEREMY MARSHALL WEALTH ADVISOR 38524 0 228625 0 505 0 24657 0 27175 0 319486 0 0 0 ERIC BANGERTER VP DIGITAL TECHNOLOGY 211108 0 43879 0 9626 0 24015 0 24428 0 313056 0 0 0 AMY KRIEBS VP MEMBER SALES & SERVICE 182038 0 35721 0 2445 0 18845 0 22248 0 261297 0 0 0 DAVID MICKELSON VP MSO & CARD OPS 130133 0 46826 0 33336 0 8299 0 10687 0 229281 0 0 0 CARMA ATKINSON VP CARD PRGM & LOSS PREVENTION 143623 0 21407 0 5706 0 16470 0 30200 0 217406 0 0 0 PART I, LINE 1A AS PRESCRIBED IN THE BOARD GOVERNANCE POLICY, TO PROVIDE FOR THE DEVELOPMENT OF MEMBER ELECTED BOARD MEMBERS, AND BUILD THEIR KNOWLEDGE TO SERVE EFFECTIVELY, EACH DIRECTOR IS EXPECTED TO SEEK OUT EDUCATIONAL AND DEVELOPMENT CONFERENCES AND OPPORTUNITIES FOR THIS PURPOSE. DIRECTORS ARE ENCOURAGED TO PARTICIPATE IN AT LEAST ONE EDUCATIONAL CONFERENCE EVERY TWO YEARS. CONSISTENT WITH THE GUIDANCE OF THE NATIONAL CREDIT UNION ADMINISTRATION AND TO ENCOURAGE DIRECTORS TO TAKE PERSONAL TIME TO ATTEND EDUCATIONAL AND DEVELOPMENTAL MEETINGS, DIRECTORS AS A COURTESY MAY BE REIMBURSED FOR THE REASONABLE COSTS OF THEIR TRAVEL AND ATTENDANCE INCLUDING A GUEST, WHO MAY ACCOMPANY THEM ON CREDIT UNION RELATED TRAVEL. WHILE THE NCUA HAS INDICATED IN LETTER 05-FCU02 THAT THEY DO NOT CONSIDER GUEST TRAVEL TO BE COMPENSATION TO DIRECTORS, FOR TAX REPORTING PURPOSES THE CREDIT UNION DOES ISSUE FORM 1099-NEC RELATED TO GUEST TRAVEL. FOR 2022, THE CREDIT UNION DID NOT PAY FOR ANY COMPANION TRAVEL. PART I, LINE 4B THE BOARD ESTABLISHED A DEFERRED COMPENSATION PLAN FOR THE PRESIDENT. THE PLAN IS DESIGNED TO COMPENSATE FOR BENEFITS NOT ELIGIBLE UNDER THE 401(K) CUMULATIVE DEFERRED COMPENSATION PAYABLE TO THE PRESIDENT IS A GENERAL CREDITOR OBLIGATION OF THE CREDIT UNION. FUTURE DISBURSEMENTS (IF ANY) OF THE CUMULATIVE TOTAL CONTRIBUTIONS TO THE PLAN IN 2022 WERE $361,812. THE PRESIDENT DID NOT VEST IN ANY OF THE PLAN CONTRIBUTIONS IN 2022 RESULTING IN TAXABLE INCOME. CUMULATIVE DEFERRED COMPENSATION PAYABLE TO THE PRESIDENT IS A GENERAL CREDITOR OBLIGATION OF THE CREDIT UNION. FUTURE DISBURSEMENTS (IF ANY) OF THE CUMULATIVE DEFERRED COMPENSATION PAYABLE ARE CONTINGENT ON THE CONDITIONS ESTABLISHED BY THE PLAN. FORM 990, PART VI, SECTION A, LINE 1A THE UNIVERSITY OF WISCONSIN CREDIT UNION DELEGATES BROAD AUTHORITY TO ACT ON BEHALF OF THE FULL BOARD TO AN EXECUTIVE COMMITTEE CONSISTING OF FOUR BOARD MEMBERS INCLUDING THE BOARD CHAIR, VICE CHAIR, SECRETARY AND TREASURER. FORM 990, PART VI, SECTION A, LINE 6 ALL MEMBERS OF THE CREDIT UNION ARE GIVEN ONE VOTE IN ELECTION OF BOARD MEMBERS, OR THE APPROVAL OF SIGNIFICANT DECISIONS, WITHOUT PREFERENCE TO THE AMOUNT OF FUNDS THEY HAVE ON DEPOSIT WITH THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A THE UNIVERSITY OF WISCONSIN CREDIT UNION IS A MEMBER OWNED COOPERATIVE BUSINESS ORGANIZATION, GOVERNED BY A NINE MEMBER BOARD OF DIRECTORS. THE BOARD IS COMPRISED OF ACTIVE MEMBERS OF THE CREDIT UNION WHO ARE SELECTED BY THE MEMBERSHIP THROUGH A DEMOCRATIC ELECTION PROCESS. FORM 990, PART VI, SECTION A, LINE 7B AT ANY MEMBERSHIP MEETING, MEMBERS MAY SUBMIT A PETITION IN ADVANCE TO ALLOW A MAJORITY OF THE MEMBERS PRESENT TO DIRECT THE BOARD TO CONSIDER POLICIES PROPOSED BY THE MEMBERS, OR RECONSIDER ANY DECISION OF THE DIRECTORS, OFFICERS, OR COMMITTEES OR TO AMEND THE BYLAWS. FURTHERMORE, THE MEMBERS MUST APPROVE OF ANY CONSOLIDATIONS OR MERGERS WHEN IT RESULTS IN A CHANGE OF MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE CEO, CFO, AND CONTROLLER PERFORM A THOROUGH REVIEW OF THE DRAFT FORM 990 PRIOR TO THE FULL BOARD REVIEW. A DRAFT COPY OF THE FORM 990 IS PRESENTED TO THE AUDIT COMMITTEE. A FINAL COPY OF THE RETURN IS PROVIDED TO THE FULL BOARD PRIOR TO FILING THE RETURN WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS, OFFICERS, AND EMPLOYEES ARE REQUIRED TO ANNUALLY DISCLOSE ANY CONFLICTS OF INTERESTS THEY MAY HAVE WITH THE ORGANIZATION. THE CHIEF LEGAL OFFICER REVIEWS EACH POLICY STATEMENT SIGNED BY THESE INDIVIDUALS TO DETERMINE IF ANY CONFLICTS HAVE OCCURRED AND NEED TO BE BROUGHT TO THE ATTENTION OF THE BOARD. IF A CONFLICT ARISES, THE RESPECTIVE BOARD MEMBER WILL ABSTAIN HIM/HERSELF FROM ANY RELATED DISCUSSION, VOTE OR SIMILAR ACTION IN THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 AS PROVIDED BY THE BYLAWS, THE PRESIDENT IS THE CHIEF EXECUTIVE OFFICER AND THE TOP MANAGEMENT OFFICIAL. THE PRESIDENT SERVES AT THE PLEASURE OF THE BOARD OF DIRECTORS. AS PRESCRIBED BY THE BYLAWS THE BOARD OF DIRECTORS SETS THE COMPENSATION OF THE PRESIDENT. THE BOARD HAS EXECUTED A FORMAL EMPLOYMENT AGREEMENT WITH THE PRESIDENT, WHICH PROVIDES THAT EITHER PARTY MAY TERMINATE THE AGREEMENT AT ANY TIME. PER THE TERMS OF THE CONTRACT, BIENNIALLY THE BOARD SETS THE COMPENSATION OF THE PRESIDENT USING INDEPENDENTLY OBTAINED DATA TO BENCHMARK THE MARKET VALUE OF THE POSITION, WHICH WAS LAST UNDERTAKEN IN 2022. ALL EMPLOYEES OF THE CREDIT UNION, INCLUDING THE PRESIDENT, ARE ELIGIBLE TO RECEIVE A BASE PAY AS WELL AS A VARIABLE PAY BONUS BASED ON THE ATTAINMENT OF THE ORGANIZATIONAL GOALS, WHICH INCLUDE MEMBER SATISFACTION AND FINANCIAL STEWARDSHIP. THE PRESIDENT RECEIVES THE SAME LIFE, MEDICAL, DISABILITY, AND DENTAL INSURANCE, AND 401(K) BENEFITS THAT ARE AVAILABLE TO ALL FULL-TIME EMPLOYEES OF THE CREDIT UNION. THE PRESIDENT IS PROVIDED WITH OTHER BENEFITS WHICH INCLUDE A SUPPLEMENTAL DISABILITY INSURANCE POLICY AND AN AUTOMOBILE ALLOWANCE. THE BOARD OF DIRECTORS' DELIBERATIONS AND DETERMINATIONS REGARDING COMPENSATION ARE RECORDED ON A TIMELY BASIS IN THE MINUTES OF THEIR MEETINGS. THE CHIEF EXECUTIVE OFFICER OF THE CREDIT UNION APPROVES THE COMPENSATION OF ALL SUBORDINATE OFFICERS OF THE CREDIT UNION. CONSISTENT WITH ALL OTHER CREDIT UNION EMPLOYEE POSITIONS, THE CREDIT UNION FOLLOWS A COMPENSATION SYSTEM THAT ASSIGNS A POSITION GRADE AND SALARY RANGE FOR EACH POSITION. AT LEAST BIENNIALLY, INDEPENDENT BENCHMARK DATA FROM AT LEAST TWO SOURCES IS OBTAINED. BASED ON THE MEDIAN OF THE BLENDED BENCHMARKS, POSITIONS ARE ASSIGNED TO A SALARY GRADE. FOR SUBORDINATE OFFICERS, COMPENSATION ADJUSTMENTS CAN BE MADE BY THE CHIEF EXECUTIVE OFFICER BASED ON INDIVIDUAL PERFORMANCE WITHIN THE CONFINES OF THE ESTABLISHED SALARY GRADE. ALL EMPLOYEES OF THE CREDIT UNION, INCLUDING THE OFFICERS SUBORDINATE TO THE CHIEF EXECUTIVE OFFICER, ARE ELIGIBLE TO RECEIVE BASE PAY AS WELL AS A VARIABLE PAY BONUS BASED ON THE ATTAINMENT OF ORGANIZATIONAL GOALS, WHICH INCLUDE MEMBER SATISFACTION, AND FINANCIAL STEWARDSHIP, THE VARIABLE PAY POTENTIAL BONUS POOL FUNDS ARE APPROVED BY THE BOARD OF DIRECTORS, EMPLOYEES, INCLUDING OFFICERS SUBORDINATE TO THE CHIEF EXECUTIVE OFFICER, PARTICIPATE IN THE BONUS POOL BASED ON THEIR INDIVIDUAL PERFORMANCE AND SALARY GRADE. THE OFFICERS SUBORDINATE TO THE CHIEF EXECUTIVE OFFICER RECEIVES THE SAME LIFE, MEDICAL, AND DENTAL INSURANCE, AND 401(K) BENEFITS THAT ARE AVAILABLE TO ALL FULL-TIME EMPLOYEES OF THE CREDIT UNION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE ON THE CREDIT UNIONS PUBLIC WEBSITE. THE CONFLICT-OF-INTEREST POLICY IS AVAILABLE TO EMPLOYEES OF THE CREDIT UNION ON THE INTERNAL INTRANET AND IS REQUIRED TO BE REVIEWED AND SIGNED BY THEM ANNUALLY; THE CONFLICT-OF-INTEREST POLICY IS NOT AVAILABLE TO THE PUBLIC. FORM 990, PART VII, SECTION A, LINE 1A, COLUMN (D) AS A CONVENIENCE TO UW CREDIT UNION, AND TO MINIMIZE THE CREDIT UNION'S ADMINISTRATIVE BURDEN RELATED TO PROCESSING AND PAYING INCIDENTAL OUT-OF-POCKET EXPENSES SUCH AS TELEPHONE, LOCAL, MILEAGE, PARKING, COPYING, POSTAGE, AND SUPPLIES ASSOCIATED WITH DUTIES OF THE BOARD DIRECTOR POSITIONS, THE BOARD HAS IMPLEMENTED A POLICY OF PER DIEM REIMBURSEMENT OF EXPENSES. DIRECTORS ARE REIMBURSED $75 PER MONTH FOR AN ANNUAL TOTAL OF $900 PER DIRECTOR. ALTERNATIVELY, THE DIRECTORS HAVE THE OPTION TO FOREGO THE PER DIEM METHOD AND BE REIMBURSED UNDER THE ACCOUNTABLE REIMBURSEMENT METHOD. FORM 990, PART XI, LINE 9: MORTGAGE MARKET HEDGING VALUATION -2,071,076. ADOPTION OF ACCOUNTING PRINCIPLE -228,529. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED THE OVERSIGHT PROCESS SINCE THE PRIOR YEAR.