2020-06-17T11:34:33-05:00 2019-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2019-01-01 390402815 KOHLER CREDIT UNION KOHL 8885282595 850 WOODLAKE ROAD KOHLER WI 53044 RICHARD LARSON CFO 8885282595 2020-06-15 1 TANYA MEDGAARDEN P01717240 5074347000 2020-06-15 67.137.57.251 2020-06-15 08:53:33 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 6D81EDFA6B22A5FABEAF7AC11E4673F17E810770 2019 2021-04-22 16:20:28Z TONY KLOCKOW 850 WOODLAKE ROAD KOHLER WI 53044 21716870 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 9 180 10 89687 0 0 0 18950710 20784457 551354 932413 0 0 19502064 21716870 45000 42767 1234140 2055970 7568132 8644205 0 0 0 7423639 8017124 16270911 18760066 3231153 2956804 410820638 429077315 376802663 391505513 34017975 37571802 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 $167 MILLION IN NEW LOANS WERE ORIGINATED AND OVER $361 MILLION IN LOAN BALANCES WERE SERVICED FOR MEMBER/OWNERS. MORE THAN $388 MILLION IN DEPOSIT ACCOUNTS WERE MAINTAINED AND OVER $2.05 MILLION IN DIVIDENDS WERE PAID ON DEPOSIT ACCOUNTS TO MORE THAN 42,000 MEMBER/OWNERS IN 2019. DATA PROCESSING COSTS EXCEEDING $2.3 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 8222 0 180 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 RICHARD LARSON 8885282595 850 WOODLAKE ROAD KOHLER WI 53044 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 367170 0 28544 AMY GRINNA CIO/SVP 50.00 X 192587 0 0 DALE LIVINGSTON SVP LENDING 50.00 X 157170 0 28184 JOHN EHMANN CFO/SVP FINANCE 50.00 X 168192 0 12946 RICHARD LARSON CFO 50.00 X 134104 0 2774 REBECCA HUBBELL MORTGAGE LOAN ORIGINATOR 40.00 X 156226 0 13307 LAURA GABRIELSE SVP COMMUNICATIONS 40.00 X 101179 0 26457 MELISSA DOEBERT VP HUMAN RESOURCES 40.00 X 100139 0 23957 SUSAN VANDERMEUSE VP INTERNAL AUDIT 50.00 X 107535 0 14063 MARK HUEHNS DIRECTOR-INFORMATION SYSTE 50.00 X 110950 0 2600 1595252 0 152832 10 0 1 0 LA MACCHIA GROUP LLC 157 N MILWAUKEE ST MILWAUKEE WI 53202 CONSTRUCTION CONTRACTOR 3987016 FIS 4900 W BROWN DEER RD BROWN DEER WI 53223 DEBIT CARD PROCESSING 802425 FISERV 75 REMITTANCE DR DEPT 1649 CHICAGO IL 60675 DATA PROCESSING 597260 Q2 SOFTWARE INC Q2EBANKING PO BOX 205970 DALLAS TX 75320 SOFTWARE PROVIDER 484703 FINANCIAL SUPERMARKETS INC 383 CLARKESVILLE STREET PO BOX 1450 CORNELIA GA 30531 CONSULTANT 403983 20 LOAN INTEREST 900099 13802984 13802984 OTHER INCOME 524298 4597615 4573330 24285 FEE INCOME 522100 2383858 2318456 65402 20784457 913353 913353 19060 0 19060 19060 19060 21716870 20694770 89687 932413 42767 2055970 1091671 5787855 509141 789452 466086 11927 113981 4229788 767949 510915 91 912787 EDUCATIONAL AND PROMOTI 469277 LOAN SERVICING EXPENSE 436224 PROVISION FOR LOAN LOSS 282534 MISCELLANEOUS OPERATING 156237 125414 18760066 4190501 5597815 22287550 17851627 71145 211634 351005568 361247428 693621 784646 30922920 11667725 14049211 19255195 2067319 6871205 624160 697200 2100190 2100190 13731373 14460375 410820638 429077315 3673206 2915517 373129457 388589996 376802663 391505513 X 0 0 0 0 34017975 37571802 34017975 37571802 410820638 429077315 X 2956804 62474 534549 X X 0 1 X 1 0 5018388 5018388 13092503 5519815 7572688 7609160 6147910 1461250 5202869 5202869 19255195 MEMBER DEPOSITS 388589996 388589996 X 21697808 -19062 -19062 21716870 0 21716870 18741004 -19062 -19062 18760066 0 18760066 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 2018 FOR ACTIVITIES IT HAS DEEMED TAXABLE AND HAS A NET OPERATING LOSS CARRYFORWARD AS OF THE 2018 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, 2019 AND 2018. THE CREDIT UNION'S 2016 THROUGH 2018 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: ROUNDING -2. NET LOSS ON SALE OF ASSET -19,060. PART XII, LINE 2D - OTHER ADJUSTMENTS: NET LOSS ON SALE OF ASSET -19,060. ROUNDING -2. 1 SCHOLARSHIPS 18 42500 PART I, LINE 2: STUDENT, OR PARENTS, MUST BE A CREDIT UNION MEMBER, HAVE A CUMULATIVE GRADE POINT AVEERAGE 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 273072 0 47525 0 46573 0 0 0 28544 0 395714 0 0 0 AMY GRINNA CIO/SVP 152407 0 21180 0 19000 0 0 0 0 0 192587 0 0 0 DALE LIVINGSTON SVP LENDING 142581 0 14589 0 0 0 0 0 28184 0 185354 0 0 0 JOHN EHMANN CFO/SVP FINANCE 132483 0 16709 0 19000 0 0 0 12946 0 181138 0 0 0 REBECCA HUBBELL MORTGAGE LOAN ORIGINATOR 154400 0 1826 0 0 0 0 0 13307 0 169533 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 42,237 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 AND ST. NICHOLAS HOSPITAL ARE ELIGIBLE FOR MEMBERSHIP. ANY REGISTERED PARISH MEMBER, EMPLOYEE, OR STUDENT IN THE DAY SCHOOLS FOR OUR LADY OF GOOD HOPE PARISH AND ST. CATHERINE'S PARISH OR ANY SOCIETIES OR ASSOCIATIONS OF SUCH PERSONS, AND ANY MEMBER OF RECORD AT THE DATE OF CONSOLIDATION WITH OUR LADY OF GOOD HOPE CREDIT UNION. 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 534,547. ROUNDING 2. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM PRIOR YEAR.