2021-11-03T16:23:09-05:00 2020-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2020-01-01 390402815 KOHLER CREDIT UNION KOHL 8885282595 5727 SUPERIOR AVE SHEBOYGAN WI 53083 GREG DANIELS CFO 8885282595 2021-11-02 1 GREG DANIELS 999009999 TANYA MEDGAARDEN P01717240 5074347000 2021-11-02 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z TONY KLOCKOW 5727 SUPERIOR AVE SHEBOYGAN WI 53083 21579142 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 9 199 9 52846 0 0 0 20784457 21177419 932413 400760 0 0 21716870 21578179 42767 45720 2055970 1598727 8644205 8667706 0 0 0 8017124 8800278 18760066 19112431 2956804 2465748 429077315 525069105 391505513 484877747 37571802 40191358 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 $217 MILLION IN NEW LOANS WERE ORIGINATED AND OVER $384 MILLION IN LOAN BALANCES WERE SERVICED FOR MEMBER/OWNERS. MORE THAN $481 MILLION IN DEPOSIT ACCOUNTS WERE MAINTAINED AND OVER $1.6 MILLION IN DIVIDENDS WERE PAID ON DEPOSIT ACCOUNTS TO MORE THAN 41,900 MEMBER/OWNERS IN 2020. DATA PROCESSING COSTS EXCEEDING $1.7 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 7070 0 199 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 DENISS MAKEJENKO SECRETARY 2.50 X X 0 0 0 BRIAN POST TREASURER 2.50 X X 0 0 0 DAN GRUENLOH DIRECTOR 2.50 X 0 0 0 JOSEPH VIRANT 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 TONY KLOCKOW PRESIDENT 50.00 X 372091 0 7803 AMY GRINNA CIO/SVP 50.00 X 214206 0 4817 DALE LIVINGSTON SVP LENDING 50.00 X 175170 0 0 RICHARD LARSON CFO/SVP FINANCE 50.00 X 125355 0 3600 JOHN EHMANN CFO/SVP FINANCE 50.00 X 64955 0 350 REBECCA HUBBELL MORTGAGE LOAN ORIGINATOR 40.00 X 276042 0 7985 DAN BODART MORTGAGE LOAN ORIGINATOR 40.00 X 219521 0 5457 MELISSA DOEBERT SVP HUMAN RESOURCES 50.00 X 122587 0 4913 LAURA GABRIELSE SVP COMMUNICATIONS 50.00 X 112497 0 7973 SUSAN VANDERMEUSE VP INTERNAL AUDIT 50.00 X 115015 0 4257 1797439 0 47155 9 0 1 0 LA MACCHIA GROUP LLC 157 N MILWAUKEE ST MILWAUKEE WI 53202 CONSTRUCTION CONTRACTOR 5416679 FIS 4900 W BROWN DEER RD BROWN DEER WI 53223 DEBIT CARD PROCESSING 642863 Q2 SOFTWARE INC Q2EBANKING PO BOX 205970 DALLAS TX 75320 SOFTWARE PROVIDER 526499 FISERV PO BOX 934057 ATLANTA GA 60675 DATA PROCESSING 314476 HERITAGE VALUATION SERVICES LLC 1351 W TOWNE SQUARE RD MEQUON WI 53092 PROPERTY APPRAISALS 256110 12 LOAN INTEREST 900099 14545530 14545530 OTHER INCOME 524298 4615574 4610263 5311 FEE INCOME 522100 2016315 1968780 47535 21177419 401723 401723 963 -963 -963 -963 21578179 21124573 52846 400760 45720 1598727 968347 6156000 463180 579906 500273 21701 93600 4402124 874280 339235 35 941799 PROVISION FOR LOAN LOSS 984605 LOAN SERVICING EXPENSE 473267 EDUCATIONAL AND PROMOTI 441779 MISCELLANEOUS OPERATING 157042 70811 19112431 5597815 6619881 17851627 72251963 211634 504850 361247428 384942812 784646 974410 38133398 11591154 19255195 26542244 6871205 12644778 697200 708100 2100190 2100190 14460375 17779877 429077315 525069105 2915517 3602136 388589996 481275611 391505513 484877747 X 0 0 0 0 37571802 40191358 37571802 40191358 429077315 525069105 X 2465748 86842 66966 X X 0 1 X 1 0 5018388 5018388 22168450 5375545 16792905 1461587 207957 1253630 9048592 6007652 3040940 436381 436381 26542244 MEMBER DEPOSITS 481275611 481275611 X 21579144 965 965 21578179 0 21578179 19113396 965 965 19112431 0 19112431 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 2019 FOR ACTIVITIES IT HAS DEEMED TAXABLE AND HAS A NET OPERATING LOSS CARRYFORWARD AS OF THE 2019 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, 2020 AND 2019. THE CREDIT UNION'S 2017 THROUGH 2019 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: ROUNDING 1. NET LOSS ON SALE OF ASSET 964. PART XII, LINE 2D - OTHER ADJUSTMENTS: NET LOSS ON SALE OF ASSET 964. ROUNDING 1. 1 SCHOLARSHIPS 17 42500 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 291629 0 37747 0 42715 0 0 0 7803 0 379894 0 0 0 REBECCA HUBBELL MORTGAGE LOAN ORIGINATOR 25405 0 250637 0 0 0 0 0 7985 0 284027 0 0 0 DAN BODART MORTGAGE LOAN ORIGINATOR 28261 0 191260 0 0 0 0 0 5457 0 224978 0 0 0 AMY GRINNA CIO/SVP 174270 0 20436 0 19500 0 0 0 4817 0 219023 0 0 0 DALE LIVINGSTON SVP LENDING 156740 0 18430 0 0 0 0 0 0 0 175170 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 41,913 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: SFAS NO. 158 IMPLEMENTATION RELATED TO DEFINED BENEFIT PLAN 66,964. ROUNDING 2. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM PRIOR YEAR.