2022-11-14T11:05:06-06:00 2021-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2021-01-01 390402815 KOHLER CREDIT UNION KOHL 8885282595 5727 SUPERIOR AVE SHEBOYGAN WI 53083 GREG DANIELS CFO 8885282595 2022-11-01 1 GREG DANIELS 999009999 TANYA MEDGAARDEN P01717240 5074347000 2022-11-01 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z TONY KLOCKOW 5727 SUPERIOR AVE SHEBOYGAN WI 53083 21945395 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 9 215 9 73713 0 0 0 21177419 21484896 400760 458077 0 0 21578179 21942973 45720 37500 1598727 881708 8667706 8792547 0 0 0 8800278 9026135 19112431 18737890 2465748 3205083 525069105 570390813 484877747 527538540 40191358 42852273 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 $211 MILLION IN NEW LOANS WERE ORIGINATED AND OVER $397 MILLION IN LOAN BALANCES WERE SERVICED FOR MEMBER/OWNERS. MORE THAN $523 MILLION IN DEPOSIT ACCOUNTS WERE MAINTAINED AND OVER $881 THOUSAND IN DIVIDENDS WERE PAID ON DEPOSIT ACCOUNTS TO MORE THAN 42,700 MEMBER/OWNERS IN 2021. DATA PROCESSING COSTS EXCEEDING $1.9 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 6895 0 215 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 JOSEPH VIRANT 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 JESSICA ENTRINGER-LEIKIP DIRECTOR 2.50 X 0 0 0 TONY KLOCKOW PRESIDENT 50.00 X 404282 0 18153 AMY GRINNA EVP 50.00 X 220335 0 6265 JOHN EHMANN CFO/SVP FINANCE 50.00 X 138625 0 11816 GREG DANIELS CFO 50.00 X 118110 0 93 DAN BODART MORTGAGE LOAN ORIGINATOR 40.00 X 189346 0 3763 ALEXIS RODRIGUEZ MORTGAGE LOAN ORIGINATOR 40.00 X 155671 0 9810 REBECCA HUBBELL MORTGAGE LOAN ORIGINATOR 40.00 X 151154 0 9820 DENISS MAKENJENKO SVP BRANCH OPERATIONS 50.00 X 145952 0 121 MELISSA DOEBERT SVP HUMAN RESOURCES 50.00 X 125825 0 13963 1649300 0 73804 9 0 1 0 FISERV PO BOX 934057 ATLANTA GA 60675 DATA PROCESSING 1527104 FIS 4900 W BROWN DEER RD BROWN DEER WI 53223 DEBIT CARD PROCESSING 784861 Q2 SOFTWARE INC Q2EBANKING PO BOX 205970 DALLAS TX 75320 SOFTWARE PROVIDER 617361 HERITAGE VALUATION SERVICES LLC 1351 W TOWNE SQUARE RD MEQUON WI 53092 PROPERTY APPRAISALS 242575 CORNERSTONE ADVISORS INC 7272 E INDIAN SCHOOL RD SCOTTSDALE AZ 83251 PROJECT MANAGEMENT/CONSULTING 239102 12 LOAN INTEREST 522100 13613652 13613652 OTHER INCOME 524298 5802602 5788685 13917 FEE INCOME 522100 2068642 2008846 59796 21484896 460499 460499 2422 -2422 -2422 -2422 21942973 21411183 73713 458077 37500 881708 917679 6273338 375975 663120 562435 32984 100208 115460 4790766 845002 424080 40 1473144 LOAN SERVICING EXPENSE 442277 EDUCATIONAL AND PROMOTI 413150 MISCELLANEOUS OPERATING 175020 PROVISION FOR LOAN LOSS 175000 39004 18737890 6619881 6439334 72251963 64729304 504850 133223 384942812 397677717 974410 921854 39621862 12587516 26542244 27034346 12644778 50799385 708100 742500 2100190 2100190 17779877 19812960 525069105 570390813 3602136 3870464 481275611 523668076 484877747 527538540 X 0 0 0 0 40191358 42852273 40191358 42852273 525069105 570390813 X 3205083 -937219 393051 X X 0 1 X 1 0 5018388 5018388 22203745 5942844 16260901 1461587 314750 1146837 9691705 6329922 3361783 1246437 1246437 27034346 MEMBER DEPOSITS 523668076 523668076 X 21945397 2424 2424 21942973 0 21942973 18740314 2424 2424 18737890 0 18737890 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 THROUGH 2020 FOR ACTIVITIES IT HAS DEEMED TAXABLE AND HAS A NET OPERATING LOSS CARRYFORWARD AS OF THE 2020 CALENDAR YEAR. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES, AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATION. THE CREDIT UNION EVALUATED ITS TAX POSITION AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2021 AND 2020. THE CREDIT UNION'S 2018 THROUGH 2020 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: ROUNDING 3. NET LOSS ON SALE OF ASSET 2,421. PART XII, LINE 2D - OTHER ADJUSTMENTS: NET LOSS ON SALE OF ASSET 2,421. ROUNDING 3. 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 1 1 X X X X X 0 0 0 TONY KLOCKOW PRESIDENT 310919 0 36904 0 56459 0 4913 0 13240 0 422435 0 0 0 AMY GRINNA EVP 188774 0 11561 0 20000 0 5188 0 1077 0 226600 0 0 0 DAN BODART MORTGAGE LOAN ORIGINATOR 37683 0 151513 0 150 0 3729 0 34 0 193109 0 0 0 ALEXIS RODRIGUEZ MORTGAGE LOAN ORIGINATOR 26193 0 129328 0 150 0 3003 0 6807 0 165481 0 0 0 REBECCA HUBBELL MORTGAGE LOAN ORIGINATOR 12781 0 138373 0 0 0 3659 0 6161 0 160974 0 0 0 JOHN EHMANN CFO/SVP FINANCE 133564 0 4561 0 500 0 0 0 11816 0 150441 0 0 0 PART I, LINE 1A HEALTH CLUB BENEFITS OF $1,250 FOR TONY KLOCKOW - INCLUDED IN TAXABLE COMPENSATION. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS COMPRISED OF 42,730 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 CPA FIRM. SALARY IS SET BY THE BOARD COMPENSATION COMMITTEE. MINUTES OF THE COMMITTEE MEETINGS ARE RECORDED. 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 393,051. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM PRIOR YEAR.