2022-05-10T07:12:58-05:00 2021-12-31 390758449 WIPFLI LLP PO BOX 8010 WAUSAU WI 544028010 990 2021-01-01 396062826 MEMBERS ADVANTAGE CREDIT UNION MEMB 7154211610 PO BOX 1208 WISCONSIN RAPIDS WI 544951208 TAMMY SCHWEBACH-ERDMAN CFO 7154211610 2022-05-09 1 TAMMY SCHWEBACH-ERDMAN XXX-XX-XXXX MARY A COATES CPA P00134220 7158453111 2022-05-09 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z THOMAS BULIN PO BOX 1208 WISCONSIN RAPIDS WI 544951208 6836184 0 2157 X WWW.MEMBERSADVANTAGECU.COM X 1932 WI A MEMBER-OWNED FINANCIAL ORGANIZATION DEDICATED TO: MEETING THE CHANGING NEEDS OF MEMBERS IN FRIENDLY & PROFESSIONAL MANNER; PROVIDING A VARIETY OF COMPETITIVELY PRICED FINANCIAL PRODUCTS & FINANCIAL PRODUCTS & SERVICES; & MAINTAINING THE CREDIT UNION'S LONG-TERM STABILITY. 9 9 42 0 2133 0 0 0 7379052 6380366 183752 267495 0 188323 7562804 6836184 39420 12847 0 0 2693836 2601322 0 0 0 3017066 2691295 5750322 5305464 1812482 1530720 145968452 169003881 121596459 143448562 24371993 25555319 X A MEMBER-OWNED FINANCIAL ORGANIZATION DEDICATED TO: MEETING THE CHANGING NEEDS OF MEMBERS IN FRIENDLY & PROFESSIONAL MANNER; PROVIDING A VARIETY OF COMPETITIVELY PRICED FINANCIAL PRODUCTS & FINANCIAL PRODUCTS & SERVICES; & MAINTAINING THE CREDIT UNION'S LONG-TERM STABILITY. 0 0 WE FUNDED 1,421 LOANS DURING 2021. AS OF 12/31/21, WE HAD $42,606,210 IN MORTGAGES/HOME EQUITY LINES, $36,530, IN CONSUMER LOANS AND $11,409,829 IN MEMBER BUSINESS LOANS. WE ALSO HAD 1,756 CREDIT CARD ACCOUNTS WITH OUR MEMBERS. WE HAVE DEPOSIT, TRANSACTION, AND INVESTMENT ACCOUNTS WITH 12,115 MEMBERS AT 12/31/21. DURING 2021, WE OPENED 1,968 NEW DEPOSIT, TRANSACTION, AND INVESTMENT ACCOUNTS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 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 3977 0 1 42 1 1 1 0 0 0 0 0 0 0 X 9 9 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X TAMMY SCHWEBACH-ERDMAN CFO 7154211610 PO BOX 1208 WISCONSIN RAPIDS WI 544951208 THOMAS SCHARFF CHAIR 1.00 X X 2475 0 0 GARY PHILLIPS VICE-CHAIR 1.00 X X 1000 0 0 RONALD SCHWANZ TREASURER 1.00 X X 1150 0 0 LEANNE PEARSON SECRETARY 1.00 X X 1725 0 0 JOE BREDL DIRECTOR 1.00 X 930 0 0 DONNA RASMUSSEN DIRECTOR 1.00 X 1100 0 0 MARY ELLEN SCHARFF DIRECTOR 1.00 X 1050 0 0 JACK UTTERMARK DIRECTOR 1.00 X 930 0 0 RICH WATER DIRECTOR 1.00 X 1150 0 0 THOMAS BULIN CEO 40.00 X 270340 0 62674 SCOTT VANDEHEY EVP 40.00 X 152854 0 58163 TAMMY SCHWEBACH-ERDMAN CFO 40.00 X 151157 0 49666 SHELLEY YOUNG MORTGAGE ORIGINATOR 40.00 X 102700 0 32990 688561 0 203493 4 0 1 0 0 INTEREST ON LOANS 522100 4028939 4028939 MEMBER FEE INCOME 522100 2351427 2349294 2133 6380366 263824 263824 3671 0 3671 3671 3671 BAD DEBT RECOVERIES 522100 188323 188323 188323 6836184 6566556 2133 267495 12847 756364 1371608 47685 305942 119723 27276 10109 50232 207262 192201 193503 10928 25040 4 332444 48153 DIVIDENDS ON MEMBER SHA 570323 LOAN & CLOSING COSTS 427343 DEBIT CARD EXPENSES 385213 DUES & SUBSCRIPTIONS 77764 133500 5305464 1443719 1576093 19858078 7369990 234759 233640 90929819 86742543 118307 89587 6394737 2102235 4531851 4292502 22982545 22241486 38835554 6610433 6881427 145968452 169003881 2943400 3004107 118653059 140444455 121596459 143448562 X 0 0 0 0 24371993 25555319 24371993 25555319 145968452 169003881 1530720 -347394 0 X 0 0 0 940598 940598 3899580 1097282 2802298 1105308 737737 367571 449251 267216 182035 4292502 DEPOSIT IN COMMERCIAL BANKS 3224000 C LOANS TO AND INVESTMENTS IN NATURAL PERSON CREDIT UNIONS 1736000 C NONPERPETUAL CAPITAL ACCOUNT 876763 C PERPETUAL CONTRIBUTED CAPITAL 218000 C ALL OTHER INVESTMENTS IN CORPORATE CREDIT UNIONS 32000000 C ALL OTHER INVESTMENTS 158800 C LOANS HELD FOR SALE 621991 C 38835554 MEMBER SHARES & DEPOSITS 140444455 140444455 X X X 0 1 0 THOMAS BULIN CEO 235252 0 33540 0 1548 0 14366 0 48308 0 333014 0 0 0 SCOTT VANDEHEY EVP 131245 0 20675 0 934 0 8515 0 49648 0 211017 0 0 0 TAMMY SCHWEBACH-ERDMAN CFO 130388 0 20280 0 489 0 8366 0 41300 0 200823 0 0 0 PART I, LINE 4B THOMAS BULIN PARTICIPATES IN A 457F PLAN WITH THE CREDIT UNION. IN 2021, THE ORGANIZATION DEFERRED $9,209 TO HIS 457F PLAN. FORM 990, PART VI, SECTION A, LINE 2 THE BOARD CHAIR, THOMAS SCHARFF, AND A BOARD DIRECTOR, MARY ELLEN SCHARFF, ARE BROTHER AND SISTER. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION CONSISTS OF MEMBERS. TO BE A MEMBER, ONE MUST HAVE A SHARE/SAVINGS ACCOUNT. EACH MEMBER HAS ONE VOTE TO ELECT THE GOVERNING BODY (BOARD OF DIRECTORS). FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS ELECTED BY THE MEMBERSHIP UTILIZING THEIR ONE VOTE PER MEMBER. FORM 990, PART VI, SECTION A, LINE 7B EACH MEMBER HAS ONE VOTE TO UTILIZE IN RATIFYING SIGNIFICANT DECISIONS BEYOND THE AUTHORITY OF THE BOARD AS OUTLINED IN THE ORGANIZATION'S BYLAWS. ANY DECISIONS TO DISSOLVE OR MERGE THE ORGANIZATION REQUIRES APPROVAL OF MEMBERSHIP, UNLESS MANDATED BY REGULATORY AGENCY (I.E., NCUA, WISCONSIN OFFICE OF CREDIT UNION). FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE 990 IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS BEFORE IT IS FILED BY THE IRS. FORM 990, PART VI, SECTION B, LINE 12C NO DIRECTOR, OFFICER, COMMITTEE MEMBER, AGENT OR EMPLOYEE OF THIS CREDIT UNION SHALL IN ANY MANNER, DIRECTLY OR INDIRECTLY, PARTICIPATE IN THE DELIBERATION UPON OR THE DETERMINATION OF ANY QUESTION AFFECTING HIS OR HER PECUNIARY OR PERSONAL INTEREST OR THE PECUNIARY INTEREST OF ANY ORGANIZATION OR ASSOCIATION IN WHICH THE PERSON IS DIRECTLY OR INDIRECTLY INTERESTED. IN THE EVENT OF DISQUALIFICATION OF ANY DIRECTOR OR MEMBER OF THE CREDIT COMMITTEE RESPECTING ANY MATTER PRESENTED TO THE BOARD OR CREDIT COMMITTEE FOR DELIBERATION OR DETERMINATION, SUCH DIRECTOR OR COMMITTEE MEMBER SHALL WITHDRAW FROM THE DELIBERATION OR DETERMINATION. IF A DIRECTOR OR CREDIT COMMITTEE MEMBER WITHDRAWS FROM ANY DELIBERATION OR DETERMINATION, THE REMAINING QUALIFIED DIRECTORS OR CREDIT COMMITTEE MEMBERS PRESENT AT THE MEETING MAY EXERCISE ALL POWERS OF THE BOARD OR CREDIT COMMITTEE, PROVIDED THE NUMBER OF DIRECTORS OR CREDIT COMMITTEE MEMBERS PRESENT, INCLUDING THE DISQUALIFIED DIRECTORS OR MEMBERS, CONSTITUTES A QUORUM. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION IS DECIDED BY COMPARATIVE DATA FROM CUES AND THEN IS DETERMINED BY THE BOARD OF DIRECTORS. THE CEO COMPENSATION IS DONE IN A CLOSED SESSION BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE UPON REQUEST THROUGH THE CFO. FINANCIALS ARE ON THE ORGANIZATION'S WEBSITE, ANNUAL MEETING AND ENTRANCES OF BUILDINGS.