UNIVERSITY OF WISCONSIN CREDIT UNION: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- UNIVERSITY OF WISCONSIN CREDIT UNION (EIN 39-0671465)
- Tax period
- 2020-01-01 to 2020-12-31
- Filed
- 2021-10-14
- IRS object ID
- 202132879349301788
- Schema version
- 2020v4.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2021-10-14T15:31:20-05:00 | ReturnTs |
| Tax Period End | 2020-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 350921680 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CROWE LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 225 West Wacker Drive Suite 2600 | AddressLine1Txt |
| City | Chicago | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 606061224 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2020-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 390671465 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | University of Wisconsin Credit Union | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | UNIV | BusinessNameControlTxt |
| Phone | 6082325000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3500 University Ave | AddressLine1Txt |
| City | Madison | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 53705 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Brad Mcclain | PersonNm |
| Person Title | Exec VP/CFO | PersonTitleTxt |
| Signature | 2021-10-14 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | Brad | PersonFirstNm |
| Person Last | Mcclain | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Diane Brown | PreparerPersonNm |
| PTIN | P01578407 | PTIN |
| Phone | 3128997000 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
Doing Business As Name DoingBusinessAsName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | UW Credit Union | BusinessNameLine1Txt |
Principal Ofcr Business Name PrincipalOfcrBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Paul Kundert | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3500 University Ave | AddressLine1Txt |
| City | Madison | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 53705 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $1,775,050,769 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | www.uwcu.org | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1931 | FormationYr |
| Legal Domicile State | WI | LegalDomicileStateCd |
| Activity Or Mission | 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. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 1076 | TotalEmployeeCnt |
| Total Volunteers | 18 | TotalVolunteersCnt |
| Total Gross UBI | $2,636,345 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $154,127,432 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $159,211,200 | CYProgramServiceRevenueAmt |
| PY Investment Income | $23,685,106 | PYInvestmentIncomeAmt |
| CY Investment Income | $58,193,643 | CYInvestmentIncomeAmt |
| PY Other Revenue | -$13,689 | PYOtherRevenueAmt |
| CY Other Revenue | $277,135 | CYOtherRevenueAmt |
| PY Total Revenue | $177,798,849 | PYTotalRevenueAmt |
| CY Total Revenue | $217,681,978 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $1,357,300 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $2,344,712 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $53,000,969 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $65,098,398 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $80,885,329 | PYOtherExpensesAmt |
| CY Other Expenses | $98,673,498 | CYOtherExpensesAmt |
| PY Total Expenses | $135,243,598 | PYTotalExpensesAmt |
| CY Total Expenses | $166,116,608 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $42,555,251 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $51,565,370 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $3,331,480,865 | TotalAssetsBOYAmt |
| Total Assets EOY | $4,205,781,575 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $2,999,685,373 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $3,808,937,047 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $331,795,492 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $396,844,528 | NetAssetsOrFundBalancesEOYAmt |
| Mission | The mission of 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 for credit unions under applicable law. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Desc | UWCU is one of Wisconsin's fastest-growing home purchase financing lenders and is among the top mortgage lenders in Wisconsin. UWCU assisted over 10,000 households who purchased or refinanced homes. UWCU continued to be a top educational lender in 2020 and offered both fixed and variable rate Private Student Loans. UWCU refinanced nearly $20 million in student loans, lowering members' rates. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | In 2020, UWCU welcomed 32,268 new members and opened 25,588 new checking accounts. The Credit Union's honest and straightforward business practices continue to drive membership and relationship growth. At the end of 2020, UWCU served over 293,000 members and nearly 227,000 checking accounts. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | 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 responsibly, 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 free access to their credit scores through Web Branch. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $0 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | Yes (true) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 103535 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 1076 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (true) | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (true) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | Yes (true) | LocalChaptersInd |
| Policies Reference Chapters | Yes (true) | PoliciesReferenceChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | false | CompensationProcessCEOInd |
| Compensation Process Other | false | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Brad McClain | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6082325000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3500 University Avenue | AddressLine1Txt |
| City | Madison | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 53705 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (26 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| Jeffrey Russell | ||||||||
| Director - Vice Chair | 3.0 | Yes (X) | Yes (X) | $900 | $0 | $0 | ||
| Kelly Wilson | ||||||||
| Director - Secretary | 3.0 | Yes (X) | Yes (X) | $900 | $0 | $0 | ||
| Marion Brown | ||||||||
| Director - Treasurer | 3.0 | Yes (X) | Yes (X) | $900 | $0 | $0 | ||
| Steven Rick | ||||||||
| Director - Chair | 3.0 | Yes (X) | Yes (X) | $900 | $0 | $0 | ||
| Michael Carr | ||||||||
| Director | 2.0 | Yes (X) | $900 | $0 | $0 | |||
| Michael Collins | ||||||||
| Director | 2.0 | Yes (X) | $900 | $0 | $0 | |||
| Phyllis King | ||||||||
| Director | 2.0 | Yes (X) | $450 | $0 | $0 | |||
| Shenita BrokenBurr | ||||||||
| Director | 2.0 | Yes (X) | $900 | $0 | $0 | |||
| Terry Warfield | ||||||||
| Director | 3.0 | Yes (X) | $900 | $0 | $0 | |||
| Brad McClain | ||||||||
| Exec VP/CFO | 45.0 | Yes (X) | $424,089 | $0 | $51,334 | |||
| Jonathan Bundy | ||||||||
| CLO/Asst. Corp. Secretary | 45.0 | Yes (X) | $280,122 | $0 | $52,091 | |||
| Paul Kundert | ||||||||
| President/CEO | 45.0 | Yes (X) | $868,440 | $0 | $363,320 | |||
| Amy Kriebs | ||||||||
| VP of Member Sales & Service (Partial Starting June 2020) | 45.0 | $157,410 | $0 | $35,582 | Yes (X) | |||
| Anne Norman | ||||||||
| SVP and Chief Marketing Officer | 45.0 | $246,353 | $0 | $47,181 | Yes (X) | |||
| David Mickelson | ||||||||
| VP Member Service Operations & Card Programs | 45.0 | $228,887 | $0 | $27,773 | Yes (X) | |||
| Eric Bangerter | ||||||||
| VP of E-Commerce | 45.0 | $235,085 | $0 | $31,130 | Yes (X) | |||
| Julio Rios | ||||||||
| Vice President of Mortgage Lending | 45.0 | $378,371 | $0 | $44,011 | Yes (X) | |||
| Lee Wiersma | ||||||||
| Exec VP/CHRO (Partial to July 2020) | 45.0 | $218,907 | $0 | $36,767 | Yes (X) | |||
| Mike Long | ||||||||
| Exec VP/CCO (Partial to Sept 2020) | 45.0 | $309,936 | $0 | $43,194 | Yes (X) | |||
| Pam Peterson | ||||||||
| SVP/CHRO | 45.0 | $214,216 | $0 | $44,283 | Yes (X) | |||
| Rob Van Nevel | ||||||||
| Exec VP & COO | 45.0 | $393,157 | $0 | $38,279 | Yes (X) | |||
| Ashley Bergren | ||||||||
| Mortgage Loan Officer | 47.0 | $382,320 | $0 | $22,533 | Yes (X) | |||
| Jeremy Leibfried | ||||||||
| Mortgage Loan Officer | 50.0 | $392,374 | $0 | $27,194 | Yes (X) | |||
| Rachel Solt | ||||||||
| Mortgage Loan Officer | 57.0 | $404,854 | $0 | $42,726 | Yes (X) | |||
| Renee Bosnjak | ||||||||
| Mortgage Loan Officerr | 51.0 | $451,301 | $0 | $18,658 | Yes (X) | |||
| Richard McKinley | ||||||||
| Mortgage Loan Officer | 53.0 | $427,747 | $0 | $44,884 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $6,021,219 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $970,940 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 114 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt | Address Line2ContractorAddress/USAddress/AddressLine2Txt |
|---|---|---|---|---|---|---|
| ADAMS OUTDOOR ADVERTISING | ||||||
| 102 East Badger Rd | Madison | WI | 53713 | ADVERTISING | $574,504 | |
| Adrenaline LLC | ||||||
| 195 New Hampshire Ave | Portsmouth | NH | 03801 | Consulting | $383,085 | |
| Adam Albrecht The Weaponary | ||||||
| 1661 N Water St 206 | Milwaukee | WI | 53202 | Consulting | $348,329 | |
| Quality Mortgage Services LLC | ||||||
| 216 Centerview Dr | Brentwood | TN | 37027 | File Review Services | $205,660 | Bldg 7 Suite 280 |
| Darnieder & Sosnay | ||||||
| 735 N Water Street | Milwaukee | WI | 53202 | Legal Services | $202,716 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 9 | CntrctRcvdGreaterThan100KCnt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| Interest on Loans | 522100 | $110,805,909 | $110,805,909 | |
| Card and ATM Interchange | 522100 | $28,229,911 | $28,052,974 | $176,937 |
| Service Charges and Fees | 522100 | $5,352,564 | $5,352,564 | |
| Loan Servicing Fees | 522100 | $9,139,442 | $9,139,442 | |
| Investment and insurance services | 523930 | $5,683,374 | $3,223,966 | $2,459,408 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $159,211,200 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $5,406,486 | TotalRevenueColumnAmt |
| Exclusion | $5,406,486 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $695,836 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $418,701 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $277,135 | RealAmt |
| Personal | $0 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $277,135 | TotalRevenueColumnAmt |
| Exclusion | $277,135 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $1,609,737,247 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $1,556,950,090 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $52,787,157 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $52,787,157 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $52,787,157 | RelatedOrExemptFuncIncomeAmt |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $0 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $217,681,978 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $209,362,012 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $2,636,345 | UnrelatedBusinessRevenueAmt |
| Exclusion | $5,683,621 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,344,712 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,777,568 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $48,918,399 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,796,026 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,752,642 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,853,763 | TotalAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $258,529 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $506,924 | TotalAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,238,156 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,115,108 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,269,177 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,321,039 | TotalAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,146,206 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $65,050 | TotalAmt |
Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $297,842 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,969,444 | TotalAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,030,054 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $385,822 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| loan servicing expense | $23,168,534 |
| loan loss provision | $21,741,193 |
| card processing expense | $5,993,632 |
| fraud forgery losses | $704,742 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,462,046 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $166,116,608 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $34,265,367 | BOYAmt |
| EOY | $30,865,155 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $412,055,800 | BOYAmt |
| EOY | $946,093,388 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,470,770 | BOYAmt |
| EOY | $8,598,682 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,499,466,072 | BOYAmt |
| EOY | $2,829,833,567 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $37,120,520 | BOYAmt |
| EOY | $42,708,325 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $174,922,449 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $49,922,365 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $104,245,577 | BOYAmt |
| EOY | $125,000,084 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $209,565,133 | BOYAmt |
| EOY | $182,046,171 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $29,291,626 | BOYAmt |
| EOY | $40,636,203 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,331,480,865 | BOYAmt |
| EOY | $4,205,781,575 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $35,267,538 | BOYAmt |
| EOY | $47,219,202 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,539,701 | BOYAmt |
| EOY | $6,963,458 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,844,539 | BOYAmt |
| EOY | $14,860,341 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $200,000,000 | BOYAmt |
| EOY | $204,000,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,747,033,595 | BOYAmt |
| EOY | $3,535,894,046 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,999,685,373 | BOYAmt |
| EOY | $3,808,937,047 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $331,795,492 | BOYAmt |
| EOY | $396,844,528 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $331,795,492 | BOYAmt |
| EOY | $396,844,528 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,331,480,865 | BOYAmt |
| EOY | $4,205,781,575 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $51,565,370 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $2,883,920 | NetUnrlzdGainsLossesInvstAmt |
| Donated Services And Use Fclts | $0 | DonatedServicesAndUseFcltsAmt |
| Investment Expense | $0 | InvestmentExpenseAmt |
| Prior Period Adjustments | $0 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | $10,599,746 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | false | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (true) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $24,475,046 | OtherCostOrOtherBasisAmt |
| Book Value | $24,475,046 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $89,222,762 | OtherCostOrOtherBasisAmt |
| Depreciation | $22,066,728 | DepreciationAmt |
| Book Value | $67,156,034 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $2,942,294 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,284,258 | DepreciationAmt |
| Book Value | $658,036 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $27,227,304 | OtherCostOrOtherBasisAmt |
| Depreciation | $18,244,271 | DepreciationAmt |
| Book Value | $8,983,033 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $31,055,043 | OtherCostOrOtherBasisAmt |
| Depreciation | $7,327,108 | DepreciationAmt |
| Book Value | $23,727,935 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $125,000,084 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| Member Deposits | $3,523,226,588 |
| Outstanding Cashiers Checks | $12,667,458 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $3,535,894,046 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $194,989,788 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $0 | NetUnrealizedGainsInvstAmt |
| Donated Services And Use Fclts | $0 | DonatedServicesAndUseFcltsAmt |
| Recoveries Prior Year Grants | $0 | RecoveriesPriorYearGrantsAmt |
| Other Revenue | -$22,692,190 | OtherRevenueAmt |
| Revenue Not Reported | -$22,692,190 | RevenueNotReportedAmt |
| Revenue Subtotal | $217,681,978 | RevenueSubtotalAmt |
| Other Revenues Not Included | $0 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $217,681,978 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $132,824,672 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | -$33,291,936 | OtherExpensesIncludedAmt |
| Expenses Not Reported | -$33,291,936 | ExpensesNotReportedAmt |
| Expenses Subtotal | $166,116,608 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $0 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $166,116,608 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule D, Part IV, Line 2b Explanation of escrow agreement | The Credit Union maintains real estate escrow accounts used to pay members' real estate taxes and insurance. |
| Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote | 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, 2020 and 2019 attributed to unrelated business activities was not material. A tax position will be recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized will be the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit will be recorded. There is no accrual necessary at year-end 2020 and 2019. The Credit Union recognizes interest and/or penalties related to income tax matters in the operations section of the consolidated statement of income. No interest or penalties were incurred during 2020 and 2019. |
| Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 | Mortgage Market Hedging Valuation - 10599746 Provision for Loan Loss - -21741193 Interest Expense - -11969444 Rental Expenses - 418701 |
| Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements | Rental Expenses - |
| Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 | Provision for Loan Loss - -21741193 Interest Expense - -11969444 Rental Expenses - 418701 |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (7 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Valuation Method UsedValuationMethodUsedDesc | Non Cash AssistanceNonCashAssistanceDesc | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|---|---|
| Community Shares of Wisconsin | ||||||||||
| 612 West Main St | Madison | WI | 53703 | 391172378 | 501(C)(3) | $27,140 | $0 | N/A | N/A | Community Outreach |
| Madison Community Foundation | ||||||||||
| 111 N Fairchild St | Madison | WI | 537032830 | 396038248 | 501(C)(3) | $200,000 | $0 | N/A | N/A | Community OUtreach |
| Madison Region Economic Partnership | ||||||||||
| 455 Science Dr | Madison | WI | 53711 | 711015136 | 501(C)(3) | $10,000 | $0 | N/A | N/A | Community Outreach |
| United Way of Dane County | ||||||||||
| 2059 Atwood Ave | Madison | WI | 53704 | 390817532 | 501(C)(3) | $1,415,545 | $0 | N/A | N/A | Community Outreach |
| United Way of Greater Milwaukee and Waukesha County Inc | ||||||||||
| 225 West Vine St | Milwaukee | WI | 53212 | 390806190 | 501(C)(3) | $600,432 | $0 | N/A | N/A | Community Outreach |
| University of Wisconsin Foundation | ||||||||||
| 1848 University Ave | Madison | WI | 537264090 | 390743975 | 501(C)(3) | $61,000 | $0 | N/A | N/A | Community Outreach |
| The UWM Foundation Inc | ||||||||||
| 1440 East North Ave | Milwaukee | WI | 53202 | 237337744 | 501(C)(3) | $11,000 | $0 | N/A | N/A | Community Outreach |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 7 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. | FormAndLineReferenceDesc |
| Explanation | UWCU contributes to organizations that are tax exempt organizations. UWCU contributes to support the general operations of these organizations. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Written Policy Ref T And E Expnss | Yes (true) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (true) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (true) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (17 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Paul Kundert | ||||||||||||||
| President/CEO | $599,747 | $0 | $243,200 | $0 | $25,493 | $0 | $328,264 | $0 | $35,056 | $0 | $1,231,760 | $0 | $0 | $0 |
| Brad McClain | ||||||||||||||
| Exec VP/CFO | $271,272 | $0 | $116,629 | $0 | $36,188 | $0 | $25,450 | $0 | $25,884 | $0 | $475,423 | $0 | $0 | $0 |
| Jonathan Bundy | ||||||||||||||
| CLO/Asst. Corp. Secretary | $179,400 | $0 | $79,836 | $0 | $20,886 | $0 | $23,835 | $0 | $28,256 | $0 | $332,213 | $0 | $0 | $0 |
| Rob Van Nevel | ||||||||||||||
| Exec VP & COO | $255,883 | $0 | $104,318 | $0 | $32,956 | $0 | $24,721 | $0 | $13,558 | $0 | $431,436 | $0 | $0 | $0 |
| Julio Rios | ||||||||||||||
| Vice President of Mortgage Lending | $148,405 | $0 | $203,072 | $0 | $26,894 | $0 | $17,050 | $0 | $26,961 | $0 | $422,382 | $0 | $0 | $0 |
| Mike Long | ||||||||||||||
| Exec VP/CCO (Partial to Sept 2020) | $186,381 | $0 | $98,462 | $0 | $25,093 | $0 | $25,371 | $0 | $17,823 | $0 | $353,130 | $0 | $0 | $0 |
| Anne Norman | ||||||||||||||
| SVP and Chief Marketing Officer | $179,569 | $0 | $65,433 | $0 | $1,351 | $0 | $20,732 | $0 | $26,449 | $0 | $293,534 | $0 | $0 | $0 |
| Eric Bangerter | ||||||||||||||
| VP of E-Commerce | $187,481 | $0 | $40,137 | $0 | $7,467 | $0 | $19,973 | $0 | $11,157 | $0 | $266,215 | $0 | $0 | $0 |
| Pam Peterson | ||||||||||||||
| SVP/CHRO | $171,458 | $0 | $33,222 | $0 | $9,536 | $0 | $16,416 | $0 | $27,867 | $0 | $258,499 | $0 | $0 | $0 |
| David Mickelson | ||||||||||||||
| VP Member Service Operations & Card Programs | $165,429 | $0 | $40,107 | $0 | $23,351 | $0 | $17,806 | $0 | $9,967 | $0 | $256,660 | $0 | $0 | $0 |
| Lee Wiersma | ||||||||||||||
| Exec VP/CHRO (Partial to July 2020) | $113,761 | $0 | $82,967 | $0 | $22,179 | $0 | $20,237 | $0 | $16,530 | $0 | $255,674 | $0 | $0 | $0 |
| Amy Kriebs | ||||||||||||||
| VP of Member Sales & Service (Partial Starting June 2020) | $126,919 | $0 | $21,464 | $0 | $9,027 | $0 | $12,438 | $0 | $23,144 | $0 | $192,992 | $0 | $0 | $0 |
| Richard McKinley | ||||||||||||||
| Mortgage Loan Officer | $91,753 | $0 | $334,011 | $0 | $1,983 | $0 | $18,100 | $0 | $26,784 | $0 | $472,631 | $0 | $0 | $0 |
| Renee Bosnjak | ||||||||||||||
| Mortgage Loan Officerr | $75,723 | $0 | $375,420 | $0 | $158 | $0 | $12,924 | $0 | $5,734 | $0 | $469,959 | $0 | $0 | $0 |
| Rachel Solt | ||||||||||||||
| Mortgage Loan Officer | $73,049 | $0 | $331,745 | $0 | $60 | $0 | $16,380 | $0 | $26,346 | $0 | $447,580 | $0 | $0 | $0 |
| Jeremy Leibfried | ||||||||||||||
| Mortgage Loan Officer | $69,380 | $0 | $322,936 | $0 | $58 | $0 | $11,137 | $0 | $16,057 | $0 | $419,568 | $0 | $0 | $0 |
| Ashley Bergren | ||||||||||||||
| Mortgage Loan Officer | $66,233 | $0 | $316,039 | $0 | $48 | $0 | $14,753 | $0 | $7,780 | $0 | $404,853 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule J, Part I, Line 1a Travel for companions | 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 NATIONAL CREDIT UNION ADMINISTRATION HAS INDICATED IN LETTER 05-FCU-02 THAT THEY DO NOT CONSIDER GUEST TRAVEL TO BE COMPENSATION TO DIRECTORS, FOR TAX REPORTING PURPOSES THE CREDIT UNION DOES ISSUE FORM 1099-MISC RELATED TO GUEST TRAVEL. FOR 2020, THE CREDIT UNION DID NOT PAY FOR ANY COMPANION TRAVEL . |
| Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan | The Board established a Deferred Compensation Plan for the President. The plan is designed to compensate for benefits not eligible under the 401(k) plan as a result of limitations imposed by the IRS on the allowable contributions, as well as to provide a long-term incentive for sustained performance. Total contributions to the plan in 2020 were $302,814. The President did not vest in any of the plan contributions in 2020 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. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (11 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Line 15b PROCESS TO ESTABLISH COMPENSATION - OFFICERS & KEY EMPLOYEES | 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 AND INDIVIDUAL PERFORMANCE, 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 RECEIVE 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, Line 15a PROCESS TO ESTABLISH COMPENSATION OF TOP MANAGEMENT OFFICIAL | 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 2018. 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 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. |
| Form 990, Part VI, Line 1a Delegate broad authority to a committee | 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, Line 6 Classes of members or stockholders | 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, Line 7a Members or stockholders electing members of governing body | 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, Line 7b Decisions requiring approval by members or stockholders | 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, Line 11b Review of form 990 by governing body | 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 provided to the audit committee and the paid tax preparer presents excerpts from the return. A final copy of the return is provided to the full board prior to filing the return with the IRS. |
| Form 990, Part VI, Line 12c Conflict of interest policy | 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 on the matter. |
| Form 990, Part VI, Line 19 Required documents available to the public | The organization's governing documents and financial statements are available on the credit union's 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) Board compensation policy | 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 expense. 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 Other changes in net assets or fund balances | Mortgage Market Hedging Valuation - 10599746; |
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