2023-11-13T08:22:06-06:00 2022-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2022-01-01 390402815 KOHLER CREDIT UNION KOHL 8885282595 5727 SUPERIOR AVE SHEBOYGAN WI 53083 GREG DANIELS CFO 8885282595 2023-11-10 1 GREG DANIELS 999009999 0 TANYA MEDGAARDEN P01717240 5074347000 2023-11-10 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z TONY KLOCKOW 5727 SUPERIOR AVE SHEBOYGAN WI 53083 23103069 0 X WWW.KOHLERCU.COM X CU 1938 WI TO ENCOURAGE THRIFT AMONG MEMBERS; TO CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE COST; TO PROVIDE AN OPPORTUNITY FOR EACH MEMBER TO IMPROVE THEIR RESPECTIVE ECONOMIC AND SOCIAL CONDITIONS; AND TO PERFORM THE FUNCTIONS AND EXERCISE THE POWERS DESIGNATED FOR CREDIT UNIONS UNDER APPLICABLE LAW. 9 9 230 9 76057 0 0 0 21484896 21689825 458077 1025331 0 0 21942973 22715156 37500 37500 881708 641350 8792547 9856050 0 0 0 9026135 9337592 18737890 19872492 3205083 2842664 570390813 576276707 527538540 535342432 42852273 40934275 X TO ENCOURAGE THRIFT AMONG MEMBERS; TO CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE COST; TO PROVIDE AN OPPORTUNITY FOR EACH MEMBER TO IMPROVE THEIR RESPECTIVE ECONOMIC AND SOCIAL CONDITIONS; AND TO PERFORM THE FUNCTIONS AND EXERCISE THE POWERS DESIGNATED FOR CREDIT UNIONS UNDER APPLICABLE LAW. 0 0 MORE THAN $207 MILLION IN NEW LOANS WERE ORIGINATED AND OVER $459 MILLION IN LOAN BALANCES WERE SERVICED FOR MEMBER/OWNERS. MORE THAN $529 MILLION IN DEPOSIT ACCOUNTS WERE MAINTAINED AND OVER $641 THOUSAND IN DIVIDENDS WERE PAID ON DEPOSIT ACCOUNTS TO MORE THAN 43,200 MEMBER/OWNERS IN 2022. DATA PROCESSING COSTS EXCEEDING $2.1 MILLION WERE INCURRED TO RECORD MEMBER ACCOUNT ACTIVITY AND PROVIDE MEMBERS ACCESS TO THEIR ACCOUNTS VIA HOME BANKING, ATM NETWORKS AND IN PERSON AT THE CREDIT UNION. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 7645 0 230 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X GREG DANIELS 8885282595 5727 SUPERIOR AVE SHEBOYGAN WI 53083 CHRIS LACEY CHAIRMAN 2.50 X X 0 0 0 TODD ULLMAN VICE CHAIRMAN 2.50 X X 0 0 0 JESSICA ENTRINGER-LEIKIP SECRETARY 2.50 X X 0 0 0 DAN GRUENLOH TREASURER 2.50 X X 0 0 0 BRIAN POST DIRECTOR 2.50 X 0 0 0 LAURIE LINDOW DIRECTOR 2.50 X 0 0 0 STEVEN GERNER DIRECTOR 2.50 X 0 0 0 RHONDA LUTZKE DIRECTOR 2.50 X 0 0 0 JOSEPH VIRANT DIRECTOR 2.50 X 0 0 0 TONY KLOCKOW PRESIDENT 50.00 X 447293 0 21605 AMY GRINNA EVP 50.00 X 262871 0 7295 GREG DANIELS CFO 50.00 X 151024 0 3379 LAURA GABRIELSE SVP MEMBER EXPERIENCE 50.00 X 125029 0 22103 ALEXIS RODRIGUEZ MORTGAGE LOAN ORIGINATOR 40.00 X 133491 0 13430 SUSAN VANDERMEUSE SVP AUDIT & ASSURANCE 50.00 X 124850 0 17028 DENISS MAKENJENKO SVP BRANCH OPERATIONS 50.00 X 200259 0 4178 MELISSA DOEBERT SVP HUMAN RESOURCES 50.00 X 140567 0 16523 1585384 0 105541 15 0 1 0 FIS 4900 W BROWN DEER ROAD BROWN DEER WI 53223 DEBIT CARD PROCESSING 888929 Q2 SOFTWARE INC PO BOX 205970 DALLAS TX 75320 SOFTWARE PROVIDER 831196 FISERV INC PO BOX 934057 ATLANTA GA 60675 DATA PROCESSING 610706 CARDMEMBER SERVICE PO BOX 790408 ST LOUIS MO 63179 CORPORATE CREDIT CARD 319661 CORNERSTONE ADVISORS INC 7272 E INDIAN SCHOOL RD SCOTTSDALE AZ 83251 PROJECT MANAGEMENT/CONSULTING 317448 14 LOAN INTEREST 522100 14141199 14141199 OTHER INCOME 524298 5303896 5290395 13501 FEE INCOME 522100 2244730 2182174 62556 21689825 1047946 1047946 365298 387913 -22615 -22615 -22615 22715156 21613768 76057 1025331 37500 641350 893467 7205091 194132 971711 591649 79564 110650 108705 4913188 871693 396148 9236 1452384 LOAN SERVICING EXPENSE 683314 EDUCATIONAL AND PROMOTI 357769 MISCELLANEOUS OPERATING 234201 PROVISION FOR LOAN LOSS 81598 39142 19872492 6439334 6622796 64729304 1043923 133223 121822 397677717 460228051 921854 1305528 40636252 12620853 27034346 28015399 50799385 52606967 742500 753400 2100190 2100190 19812960 23478631 570390813 576276707 3870464 5947113 523668076 529395319 527538540 535342432 X 0 0 0 0 42852273 40934275 42852273 40934275 570390813 576276707 X 2842664 -3722810 -1037852 X X 0 1 X 1 0 5018388 5018388 22101914 6364688 15737226 1461587 421404 1040183 8982558 5834761 3147797 3071805 3071805 28015399 MEMBER DEPOSITS 529395319 529395319 X 22737770 22614 22614 22715156 0 22715156 19895106 22614 22614 19872492 0 19872492 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER IRC 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE AND HAS A NET OPERATING LOSS CARRYFORWARD AS OF THE 2021 CALENDAR YEAR. THE CREDIT UNION EVALUATED ITS TAX POSITION AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2022 AND 2021. THE CREDIT UNION'S 2019 THROUGH 2021 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: ROUNDING -2. NET LOSS ON SALE OF ASSET 22,616. PART XII, LINE 2D - OTHER ADJUSTMENTS: NET LOSS ON SALE OF ASSET 22,616. ROUNDING -2. 1 SCHOLARSHIPS 15 37500 PART I, LINE 2: STUDENT, OR PARENTS, MUST BE A CREDIT UNION MEMBER, HAVE A CUMULATIVE GRADE POINT AVERAGE OF 3.25 OR BETTER, PLAN TO ATTEND A 4-YEAR WISCONSIN INSTITUTION AND HAVE A HIGH SCHOOL RECORD OF ACHIEVEMENT IN SCHOLARSHIP, CHARACTER, LEADERSHIP, CITIZENSHIP AND INVOLVEMENT. X X 1 1 X X X X X 0 0 0 TONY KLOCKOW PRESIDENT 352953 0 43899 0 50441 0 5355 0 16250 0 468898 0 0 0 AMY GRINNA EVP 213240 0 28669 0 20962 0 6064 0 1231 0 270166 0 0 0 DENISS MAKENJENKO SVP BRANCH OPERATIONS 181674 0 13085 0 5500 0 3968 0 210 0 204437 0 0 0 MELISSA DOEBERT SVP HUMAN RESOURCES 123524 0 11351 0 5692 0 3430 0 13093 0 157090 0 0 0 GREG DANIELS CFO 139949 0 10575 0 500 0 3231 0 148 0 154403 0 0 0 PART I, LINE 1A HEALTH CLUB BENEFITS OF $2,013 FOR TONY KLOCKOW - INCLUDED IN TAXABLE COMPENSATION. TRAVEL FOR COMPANIONS OF $490 FOR GREG DANIELS - INCLUDED IN TAXABLE COMPENSATION. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS COMPRISED OF 43,226 MEMBER/OWNERS, EACH OF WHOM HAS EQUAL RIGHTS IN OWNERSHIP, GOVERANCE AND VOTING AT THE ANNUAL MEETINGS, WITH THE EXCEPTION OF THE MEMBER/OWNERS WHO ARE ELECTED TO THE BOARD OF DIRECTORS. MEMBERSHIP IN THE CREDIT UNION IS OPEN TO THOSE WHO LIVE OR WORK IN SHEBOYGAN, CALUMET, FOND DU LAC, MANITOWOC, OZAUKEE, WASHINGTON, MILWAUKEE OR WAUKESHA COUNTIES IN WISCONSIN. ADDITIONALLY, ALL EMPLOYEES AND RETIREES OF KOHLER COMPANY, POLAR WARE, CURT JOA, AND PLYMOUTH FOAM ARE ELIGIBLE FOR MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBER/OWNERS OF THE CREDIT UNION HAVE THE AUTHORITY TO ELECT THE MEMBERS OF THE BOARD OF DIRECTORS FOR 3-YEAR TERMS ON A ROTATING BASIS. CANDIDATES ARE ELECTED BY A SIMPLE PLURALITY VOTE. THE BOARD OF DIRECTORS APPOINTS A NOMINATION COMMITTEE CONSISTING OF NOT FEWER THAN THREE MEMBERS, WHO SHALL NOMINATE ONE OR MORE MEMBERS FOR EACH VACANCY ON THE BOARD. FORM 990, PART VI, SECTION A, LINE 7B BYLAWS MAY BE AMENDED BY A THREE-FOURTHS MAJORITY VOTE OF THE MEMBERS PRESENT AT ANY ANNUAL OR SPECIAL MEETING OF THE MEMBERS, IF ALL NOTICE AND OTHER REQUIREMENTS APPLICABLE TO AMENDMENT OF BYLAWS ARE SATISFIED. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO BEING FILED WITH THE IRS, A COPY OF THE IRS FORM 990 AND RELATED SCHEDULES ARE REVIEWED BY THE PRESIDENT AND CHIEF FINANCIAL OFFICER, INCLUDING A CONFIRMATION OF ACCURACY OF EVERY ANSWER AND OVERSIGHT OF APPROPRIATE CHANGES. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST REQUIREMENTS ARE PART OF THE PERSONNEL POLICY WHICH IS REQUIRED TO BE REVIEWED ANNUALLY BY DIRECTORS AND EMPLOYEES. ALSO, AT EACH MONTHLY BOARD MEETING DIRECTORS ARE ASKED IF THEY HAVE A CONFLICT OF INTEREST WITH REGARDS TO ANY AGENDA ITEM. IF A CONFLICT OF INTEREST IS IDENTIFIED , THE BOARD MEMBER IS RECUSED FROM VOTING ON THAT ITEM. ALSO, AT EACH LOAN COMMITTEE MEETING, LOAN COMMITTEE MEMBERS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST WITH RESPECT TO ANY LOAN BROUGHT BEFORE THE COMMITTEE, AND ARE RECUSED FROM VOTING ON APPROVAL OF THE RELATED LOAN. FORM 990, PART VI, SECTION B, LINE 15 SALARY SURVEY IS COMPLETED BY AN INDEPENDENT FIRM. SALARY FOR THE CEO IS SET BY THE BOARD COMPENSATION COMMITTEE. MINUTES OF THE COMMITTEE MEETINGS ARE RECORDED. SALARY FOR ALL OTHER OFFICERS ARE DETERMINED BY THE CEO UTILIZING THE INDEPENDENT SURVEY. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2022 FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION'S LOBBIES. OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN OCI -1,037,852. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM PRIOR YEAR.