2020-11-13T09:48:28-06:00 2019-12-31 390758449 WIPFLI LLP PO BOX 8010 WAUSAU WI 544028010 990 2019-01-01 396048473 HERITAGE CREDIT UNION HERI 6082412191 1212 HUXLEY ST MADISON WI 53704 ANITA RAUCH CHIEF EXECUTIVE OFFICER 6082412191 2020-11-13 1 MARY A COATES CPA P00134220 7158453111 2020-11-11 24.240.116.52 2020-11-13 08:18:54 CS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 BA1B6B71409BCBA719E7BBFC6116F39ABC0DB0A7 2019 2022-01-07 14:23:13Z ANITA RAUCH 1212 HUXLEY ST MADISON WI 53704 19306175 0 X WWW.HERITAGECU.ORG X 1934 WI SIMPLIFY BANKING, MEET PEOPLE'S FINANCIAL NEEDS, SAVE PEOPLE TIME. 7 6 152 6 56208 16624 0 0 16075602 18498843 951016 773165 23486 15600 17050104 19287608 0 0 0 0 7029410 7978716 0 0 0 7401829 8947775 14431239 16926491 2618865 2361117 350873855 389446849 309244984 345976679 41628871 43470170 HERITAGE CREDIT UNION WILL BE AN INDEPENDENT, CO-OPERATIVE, PREMIER FINANCIAL INSTITUTION WITH A RECOGNIZED BRAND IN THE MARKETS WE SERVE. WE WILL BE THE PREFERRED PLACE WHERE FAMILIES WILL COME TO MEET THEIR FINANCIAL NEEDS, FOR CURRENT AND FUTURE GENERATIONS. 0 0 TO PROMOTE THRIFT & PROVIDE LOW COST LOANS AMONG MEMBERS. THIS IS ACCOMPLISHED ON A CO-OPERATIVE NON-PROFIT BASIS FOR THE BENEFIT OF THE MEMBERSHIP.THE ORGANIZATION HAD 30,021 MEMBERS AT THE END OF 2019 WITH 4,246,909 POTENTIAL MEMBERS. THE ORGANIZATION GRANTED 6,554 LOANS IN 2019. 0 0 0 0 0 0 0 1 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 8005 0 1 152 1 1 1 0 0 0 0 0 0 0 X 7 6 0 0 0 0 1 1 0 1 1 0 1 1 0 1 1 1 1 1 1 0 0 X CHELSEA ZASTROW 6082378376 1212 HUXLEY ST MADISON WI 53704 GREG CULLEN DIRECTOR 1.00 X 0 0 0 BROOKE FREY DIRECTOR 1.00 X 692 0 0 MATT YOUNG DIRECTOR 1.00 X 0 0 0 JESSE SANDOVAL CHAIRPERSON 1.00 X X 2641 0 0 DAUN MAIER SECRETARY 1.00 X X 0 0 0 CATIE SHANNON TREASURER 1.00 X X 0 0 0 ANITA RAUCH CHIEF EXECUTIVE OFFICER 40.00 X X 782823 0 46529 CHELSEA ZASTROW CHIEF FINANCIAL OFFICER 40.00 X 100541 0 30138 JUSTIN WILLIAMS CHIEF FINANCIAL OFFICER (THRU FEB) 40.00 X 29058 0 3232 KELLY CHAMBERS CHIEF IT & MARKETING OFFICER 40.00 X 165941 0 31797 HEATHER RISTOW CHIEF OPERATING OFFICER 40.00 X 139421 0 11333 KAY PAULSON CHIEF RISK OFFICER 40.00 X 111164 0 9494 AMI SIMONS VP OF LENDING OPERATIONS 40.00 X 116908 0 17035 DAVE MACINTIRE IT DIRECTOR 40.00 X 113622 0 12848 1562811 0 162406 8 0 1 0 KRAEMER BROTHERS LLC 925 PARK AVENUE PLAIN WI 535770219 CONSTRUCTION OF NEW BUILDING 919239 POTTER LAWSON INC 749 UNIVERSITY ROW MADISON WI 53705 ARCHITECT OF NEW BUILDING 587442 AUTO EXAM 17555 EL CAMINO REAL HOUSTON TX 77058 VEHICLE SERVICE CONTRACTS FOR AUTO LOANS 315397 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 SYSTEM SOFTWARE & SERVICES 232109 FROST FINANCIAL SERVICES INC 8829 CHAPEL SQUARE DR CINCINNATI OH 45249 INSURANCE PRODUCTS FOR AUTO LOANS 205870 13 INTEREST ON LOANS 522100 13967154 13967154 FEE INCOME 522100 3194594 3163226 31368 COMMISSION INCOME 522100 1320556 1295716 24840 16539 16539 18498843 791732 791732 15600 0 15600 15600 15600 18567 -18567 -18567 -18567 19287608 18424068 56208 807332 992321 5502261 201671 789124 493339 5628 37784 22739 599964 918297 551524 698083 79928 281632 778557 85553 DIVIDENDS ON MEMBER SHA 2304639 PROVISION FOR LOAN LOSS 974523 DEBIT & CREDIT CARD EXP 654860 LOAN SERVICING EXPENSE 639727 314337 16926491 4637789 3677928 14055034 16113403 686675 837760 278743087 310243029 290091 480753 25829849 10246586 13816913 15583263 2995814 2746433 21826299 23526152 648989 558648 13173164 15679480 350873855 389446849 5125188 7772959 303773 0 539876 740242 10000000 25033196 293276147 312430282 309244984 345976679 X 0 0 0 0 41628871 43470170 41628871 43470170 350873855 389446849 X 2361117 -519818 X 0 0 0 0 1 X 4323127 4323127 14173922 5625372 8548550 151872 151872 0 3828890 2931356 897534 3352038 1537986 1814052 15583263 DEPOSITS IN COMMERCIAL BANKS 16331000 C LOANS TO AND INVESTMENTS IN NATURAL PERSON CREDIT UNIONS 1249000 C MEMBERSHIP CAPITAL AT CORP 1224067 C PAID IN CAPITAL AT CORP 815626 C ALL OTHER INVESTMENTS 3906459 C 23526152 SHARES AND DEPOSITS 312430282 312430282 PART IV, LINE 2B: THE ORGANIZATION IS THE TRUSTEE OF CERTAIN MEMBER'S ESCROW FUNDS AND HAS FIDUCIARY RESPONSIBILITY FOR THE ADMINISTRATION AND DISTRIBUTION OF THESE FUNDS FOR MEMBERS OF THE ORGANIZATION. X X 1 1 X X X X X 0 1 0 ANITA RAUCH CHIEF EXECUTIVE OFFICER 296277 0 45657 0 440889 0 30066 0 16463 0 829352 0 303773 0 KELLY CHAMBERS CHIEF IT & MARKETING OFFICER 143633 0 22308 0 0 0 13240 0 18557 0 197738 0 0 0 HEATHER RISTOW CHIEF OPERATING OFFICER 119331 0 19440 0 650 0 10402 0 931 0 150754 0 0 0 PART I, LINE 4B ANITA RAUCH PARTICIPATED IN A 457F NON-QUALIFIED RETIREMENT PLAN AND REPORTED A $121,509 INCREASE IN HER PLAN. SHE RECEIVED A PAYOUT OF $425,282 FROM HER 457F PLAN DURING 2019. FORM 990, PART VI, SECTION A, LINE 6 EACH CREDIT UNION MEMBER IS CONSIDERED A SHAREHOLDER. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT THE BOARD OF DIRECTORS AT THEIR ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B THE OFFICERS OF THE CREDIT UNION REVIEW THE 990 PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. THEN THE RETURN IS AVAILABLE FOR THE BOARD TO REVIEW. FORM 990, PART VI, SECTION B, LINE 12C NO DIRECTOR, OFFICER, COMMITTEE MEMBER, AGENT OR EMPLOYEE OF THIS CREDIT UNION SHALL IN ANY MANNER, DIRECTORY OR INDIRECTLY, PARTICIPATE IN THE DELIBERATION UPON OR THE DETERMINATION OF ANY QUESTION AFFECTING THE PERSON'S 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 OF 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. THE BOARD OF DIRECTORS ARE RESPONSIBLE FOR REGULARLY AND CONSISTENTLY MONITORING AND ENFORCING ANY POTENTIAL CONFLICT OF INTEREST. ANY DISCUSSION REGARDING A POTENTIAL CONFLICT OF INTEREST IS RECORDED IN THE BOARD MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS REVIEW THE CEO'S SALARY ANNUALLY. THE AMOUNT IS DETERMINED BY THE COMPENSATION COMMITTEE AND REVIEWED AND APPROVED BY THE ENTIRE BOARD OF DIRECTORS. ANNUALLY, THE AMOUNT IS DETERMINED BASED ON THE CONTRACT IN PLACE AND PERFORMANCE. THE CEO REVIEWS PRESIDENT AND VP COMPENSATION ANNUALLY BASED ON PERFORMANCE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON WRITTEN REQUEST. FORM 990, PART XI, LINE 9: CHANGES IN OTHER COMPREHENSIVE INCOME -519,818.