2020-04-06T08:39:35-05:00 2019-12-31 390758449 WIPFLI LLP PO BOX 8010 WAUSAU WI 544028010 990 2019-01-01 396062826 MEMBERS ADVANTAGE CREDIT UNION MEMB 7154211610 PO BOX 1208 WISCONSIN RAPIDS WI 544951208 TAMMY SCHWEBACH-ERDMAN CFO 7154211610 2020-04-01 1 MARY A COATES CPA P00134220 7158453111 2020-04-01 24.240.116.52 2020-04-01 15:39:22 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 BA1B6B71409BCBA719E7BBFC6116F39ABC0DB0A7 2019 2020-09-23 17:36:50Z THOMAS BULIN PO BOX 1208 WISCONSIN RAPIDS WI 544951208 7077904 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 44 0 2599 0 0 0 6257315 6884724 183841 202384 0 0 6441156 7087108 1000 1250 0 0 2229315 2461163 0 0 0 2257874 2901681 4488189 5364094 1952967 1723014 112153172 122415246 91316675 99855735 20836497 22559511 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 1,507 LOANS DURING 2019. AS OF 12/31/19, WE HAD $46,619,002 IN MORTGAGES/HOME EQUITY LINES, $41,335,674 IN CONSUMER LOANS AND $12,770,059 IN MEMBER BUSINESS LOANS. WE ALSO HAD 1,553 CREDIT CARD ACCOUNTS WITH OUR MEMBERS. WE HAVE DEPOSIT, TRANSACTION, AND INVESTMENT ACCOUNTS WITH 12,041 MEMBERS AT 12/31/19. DURING 2019, WE OPENED 742 NEW DEPOSIT, TRANSACTION AND INVESTMENT ACCOUNTS. 0 0 0 0 0 0 0 0 0 1 1 0 1 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 3488 0 1 44 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 7154211610 PO BOX 1208 WISCONSIN RAPIDS WI 544951208 JOE BREDL DIRECTOR 1.00 X 910 0 0 DONNA RASMUSSEN DIRECTOR 1.00 X 980 0 0 MARY ELLEN SCHARFF DIRECTOR 1.00 X 910 0 0 JACK UTTERMARK DIRECTOR 1.00 X 980 0 0 RICH WATER DIRECTOR 1.00 X 910 0 0 THOMAS SCHARFF CHAIR 1.00 X X 2260 0 0 GARY PHILLIPS VICE-CHAIR 1.00 X X 1120 0 0 LEANNE PEARSON SECRETARY 1.00 X X 1260 0 0 RONALD SCHWANZ TREASURER 1.00 X X 910 0 0 THOMAS BULIN CEO 40.00 X 251377 0 49685 SCOTT VANDEHEY EVP 40.00 X 145083 0 34279 TAMMY SCHWEBACH-ERDMAN CFO 40.00 X 141735 0 33287 HAYLEY MARSCHKE MORTGAGE ORIGINATOR 40.00 X 154993 0 19050 703428 0 136301 4 0 1 0 ALTMANN CONSTRUCTION 5921 PLOVER RD WISCONSIN RAPIDS WI 54494 CONSTRUCTION/REMODEL 1965925 DATAMATIC 5545 ENTERPRISE DR LANSING MI 48911 VIEW SOFTWARE 225348 STRATA DEFENSE 8400 HIGHLAND DR WAUSAU WI 54401 IT/COMPUTERS 123844 DATA FINANCIAL 1100 W GLEN OAKS LN MEQUON WI 53092 CASH RECYCLERS 109026 4 INTEREST ON LOANS 522100 4680745 4680745 MEMBER FEE INCOME 522100 2203979 2201380 2599 6884724 193180 193180 -9204 9204 9204 9204 7087108 6882125 2599 202384 1250 665686 1244733 47692 394733 108319 3654 23569 11236 73564 198362 170077 177997 11332 80509 232 211047 46896 DIVIDENDS ON MEMBER SHA 736045 LOAN & CLOSING COSTS 445288 DEBIT CARD EXPENSES 311718 PROVISION FOR LOAN LOSS 181254 218901 5364094 977295 1658821 3357597 2261736 234206 251789 92513893 95813079 170735 136212 6247403 1589946 2343146 4657457 6422438 11334708 6133862 6301444 112153172 122415246 2132036 2484555 89184639 97371180 91316675 99855735 X 0 0 0 0 20836497 22559511 20836497 22559511 112153172 122415246 1723014 0 X 0 0 0 905598 905598 3825148 868794 2956354 1091061 559678 531383 425596 161474 264122 4657457 DEPOSIT IN COMMERCIAL BANKS 1040000 C LOANS TO AND INVESTMENTS IN NATURAL PERSON CREDIT UNIONS 2884000 C MEMBERSHIP CAPITAL AT CORP 623149 C PAID IN CAPITAL AT CORP 218000 C ALL OTHER INVESTMENTS IN CORPORATE CREDIT UNIONS 4600000 C ALL OTHER INVESTMENTS 158800 C LOANS HELD FOR SALE 1810759 C 11334708 NCUA SHARE INSURANCE CAPITALIZATION DEPOSITS 925750 ALL OTHER ASSETS 461674 CASH SURRENDER VALUE OF LIFE INSURANCE 4914020 6301444 MEMBER SHARES & DEPOSITS 97371180 97371180 X X X 0 1 0 THOMAS BULIN CEO 202120 0 39500 0 9757 0 13395 0 36290 0 301062 0 0 0 SCOTT VANDEHEY EVP 124768 0 19889 0 426 0 8003 0 26276 0 179362 0 0 0 TAMMY SCHWEBACH-ERDMAN CFO 122455 0 19136 0 144 0 7827 0 25460 0 175022 0 0 0 HAYLEY MARSCHKE MORTGAGE ORIGINATOR 33547 0 121446 0 0 0 2337 0 16713 0 174043 0 0 0 PART I, LINE 4B THOMAS BULIN PARTICIPATES IN A 457B AND 457F PLAN WITH THE CREDIT UNION. IN 2019 THOMAS BULIN RECEIVED $8,861 OF COMPENSATION EARNED IN A PRIOR YEAR. PART I, LINE 5 THE OFFICERS AND HIGHEST COMPENSATED EMPLOYEES RECEIVE A BONUS BASED ON THE RETURN ON ASSETS OF THE ORGANIZATION. 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 O 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 BALANCEDCOMP AND THEN IS DETERMINED BY THE BOARD OF DIRECTORS. THE CEO COMPENATION 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.