2020-11-16T13:28:58-06:00 2019-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2019-01-01 396072970 ROYAL CREDIT UNION ROYA 7158338111 200 RIVERFRONT TERRACE EAU CLAIRE WI 54703 JON HEHLI CHIEF FINANCIAL OFFICER 7158338111 2020-11-13 1 TANYA MEDGAARDEN P01717240 5074347000 2020-11-13 67.137.57.251 2020-11-13 12:25:49 CS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 F630F1EEE6B1AF3350F47F5F27B062EA6FC5A2EF 2019 2022-01-07 14:23:13Z JON HEHLI 200 RIVERFRONT TERRACE EAU CLAIRE WI 54703 153742463 0 X WWW.RCU.ORG X CREDIT UNION 1964 WI TO CREATE A POSITIVE IMPACT IN THE LIVES WE TOUCH. 7 7 807 676 166418 0 0 0 130621252 146906492 1124786 6835971 0 0 131746038 153742463 2183495 1453955 18676401 26381727 42809357 49202912 0 0 0 44697100 50717481 108366353 127756075 23379685 25986388 2390524196 2837926175 2129936823 2551352414 260587373 286573761 TO CREATE A POSITIVE IMPACT IN THE LIVES WE TOUCH. 0 0 WE FUNDED 46,945 LOANS DURING 2019. AS OF 12/31/19, WE HAD 25,776 MORTGAGES/HOME EQUITY, 124,572 CONSUMER LOANS AND 2,981 MEMBER BUSINESS LOANS. WE ALSO HAD 47,755 CREDIT CARD ACCOUNTS WITH OUR MEMBERS AT 12/31/19. WE HAVE DEPOSIT, TRANSACTION, AND INVESTMENT ACCOUNTS WITH 223,815 MEMBERS AT 12/31/19. DURING 2019, WE OPENED 64,005 NEW DEPOSIT, TRANSACTION AND INVESTMENT ACCOUNTS. 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 1 0 1 0 0 0 1 0 0 0 0 0 0 1 1 1 0 0 1 63384 0 1 807 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 WI MN X JON HEHLI 7158338111 PO BOX 970 EAU CLAIRE WI 54702 BRANDON RIECHERS CEO/PRESIDENT 40.00 X 677270 0 750138 JON HEHLI EVP-CFO 40.00 X 409563 0 54562 JARED JOHNSON MORTGAGE LOAN OFFICER 40.00 X 364526 0 29802 JAN JOHNSON EVP-ORGANIZATIONAL AFILITY 40.00 X 328911 0 42120 BARBARA OAS-HOLMES MORTGAGE LOAN OFFICER 40.00 X 313972 0 50864 JEFFREY SPROUL MORTGAGE LOAN OFFICER 40.00 X 347266 0 15009 JACOB SPIES REGIONAL MORTGAGE SALES MANAGER 40.00 X 287490 0 39924 MARK ERICKSON MORTGAGE LOAN OFFICER 40.00 X 280518 0 39940 MICHAEL DILL EVP-CHIEF LENDING OFFICER 40.00 X 264667 0 53406 AMY FORCIER-PABST EVP-MEMBER EXPERIENCE 40.00 X 238029 0 49472 ADAM KINNARD EVP-CHIEF TECHNOLOGY OFFICER 40.00 X 206819 0 40725 PAMELA HALLER EVP-CHIEF DIGITAL EXPERIENCE & MARKETING OFFICER 40.00 X 201980 0 23615 DOUG OLSON CHAIRPERSON 10.00 X 33076 0 0 THOMAS HUFFCUTT TREASURER 10.00 X 23968 0 0 JOHN SACKETT ASSISTANT VICE CHAIRPERSON 10.00 X 18613 0 0 JENNIFER MCDONOUGH SECRETARY 10.00 X 17748 0 0 STUART SCHAEFER VICE CHAIRPERSON 10.00 X 16435 0 0 WILLIAM BLACKBURN ASSISTANT SECRETARY 10.00 X 16435 0 0 NANCY BELTZ ASSISTANT TREASURER 10.00 X 14255 0 0 4061541 0 1189577 58 0 1 0 INDEPENDENT SETTLEMENT SERVICES LLC PO BOX 783995 PHILADELPHIA PA 19178 APPRAISAL AND TITLE MANAGEMENT SERVICES 1060660 WELD RILEY S C 3624 OAKWOOD HILLS PARKWAY EAU CLAIRE WI 54702 LEGAL COUNCIL 312441 THILLENS INC 4242 N ELSTON AVENUE CHICAGO IL 60618 ATM CASH PROVIDER 275925 RUDER WARE LLSC 402 GRAHAM AVE 6 EAU CLAIRE WI 54701 LEGAL COUNCIL 274569 HIGH MONKEY CONSULTING 1121NE JACKSON ST STE 121 MINNEAPOLIS MN 55413 WEB DESIGN 260497 19 LOAN INTEREST 522100 108590408 108590408 OTHER OPERATING INCOME 522100 23557659 23557659 SERVICE CHARGES & FEE INCOME 522100 14758425 14592007 166418 146906492 6000281 6000281 835690 0 835690 835690 835690 153742463 146740074 166418 6835971 1453955 26381727 3481807 35122265 1599809 5946907 3052124 681136 3600598 13238132 3138837 369854 1645 2953873 PROVISION FOR LOAN LOSS 14672146 LOAN SERVICING 8933186 MISCELLANEOUS OPERATING 2936832 OPERATING FEES 191242 127756075 68749109 165368614 8106338 3378000 23586170 31194453 2137886211 2488243632 3065015 2671611 86379439 47710679 37248365 38668760 21934770 13009531 29144597 31039419 11774510 11312570 49029111 53039585 2390524196 2837926175 45086228 50839122 2084850595 2500513292 2129936823 2551352414 X 0 0 0 0 260587373 286573761 260587373 286573761 2390524196 2837926175 25986388 0 X X 0 1 X 1 1 1 10271191 10271191 40516002 17089242 23426760 1221384 964260 257124 34370862 29657177 4713685 38668760 MEMBERS' SHARES 2500513292 2500513292 X 151732052 0 151732052 2010411 2010411 153742463 125745666 2 2 125745664 2010411 2010411 127756075 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. MANAGEMENT EVALUATED THE CREDIT UNION'S TAX POSITIONS AND CONCLUDED THE CREDIT UNION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. THE CREDIT UNION FILES FORM 990 IN THE US FEDERAL JURISTICTION. PART XI, LINE 4B - OTHER ADJUSTMENTS: EXPENSES INCLUDED IN REVENUE 2,010,411. PART XII, LINE 2D - OTHER ADJUSTMENTS: ROUNDING 2. PART XII, LINE 4B - OTHER ADJUSTMENTS: EXPENSES INCLUDED IN REVENUE 2,010,411. 1 ROYAL CREDIT UNION FOUNDATION 200 RIVERFRONT TERRACE EAU CLAIRE WI 54703 461588898 501(C)(3) 1267590 ANNUAL DONATION UNITED WAY OF GREATER CHIPPEWA VALLEY 3603 N HASTINGS WAY STE 200 EAU CLAIRE WI 54703 391077901 501(C)(3) 9500 ANNUAL SUPPORT/GIFT UW-EAU CLAIRE FOUNDATION INC 105 GARFIELD AVE EAU CLAIRE WI 54701 390972350 501(C)(3) 7500 CARSON PARK TURF MARSHFIELD CLINIC HEALTH SYSTEM 1000 N OAK AVE MARSHFIELD WI 54449 812822823 501(C)(3) 10000 CANCER CENTER EAU CLAIRE UW-EAU CLAIRE FOUNDATION INC 105 GARFIELD AVE EAU CLAIRE WI 54701 390972350 501(C)(3) 7500 LOCAL BLUGOLD SCHOLARSHIP NATIONAL CREDIT UNION FOUNDATION 5710 MINERAL POINT ROAD MADISON WI 53705 391383650 501(C)(3) 5500 CORPORATE SPONSORSHIP 6 PART I, LINE 2: THE CEO/PRESIDENT AND TWO BOARD MEMBERS OF THE CREDIT UNION SERVE ON THE BOARD OF THE FOUNDATION AND MONITOR THE USE OF GRANT FUNDS. X X X X 0 1 0 BRANDON RIECHERS CEO/PRESIDENT 541134 0 126447 0 9689 0 729343 0 20795 0 1427408 0 0 0 JON HEHLI EVP-CFO 328212 0 71608 0 9743 0 38965 0 15597 0 464125 0 0 0 JARED JOHNSON MORTGAGE LOAN OFFICER 314184 0 49449 0 893 0 28911 0 891 0 394328 0 0 0 JAN JOHNSON EVP-ORGANIZATIONAL AFILITY 267282 0 58904 0 2725 0 33701 0 8419 0 371031 0 0 0 BARBARA OAS-HOLMES MORTGAGE LOAN OFFICER 271696 0 39396 0 2880 0 35267 0 15597 0 364836 0 0 0 JEFFREY SPROUL MORTGAGE LOAN OFFICER 301288 0 45253 0 725 0 14118 0 891 0 362275 0 0 0 JACOB SPIES REGIONAL MORTGAGE SALES MANAGER 224952 0 62275 0 263 0 19133 0 20791 0 327414 0 0 0 MARK ERICKSON MORTGAGE LOAN OFFICER 252251 0 26473 0 1794 0 31422 0 8518 0 320458 0 0 0 MICHAEL DILL EVP-CHIEF LENDING OFFICER 240615 0 22041 0 2011 0 31671 0 21735 0 318073 0 0 0 AMY FORCIER-PABST EVP-MEMBER EXPERIENCE 203022 0 31628 0 3379 0 28677 0 20795 0 287501 0 0 0 ADAM KINNARD EVP-CHIEF TECHNOLOGY OFFICER 182094 0 23927 0 798 0 26877 0 13848 0 247544 0 0 0 PAMELA HALLER EVP-CHIEF DIGITAL EXPERIENCE & MARKE 187837 0 13893 0 250 0 23004 0 611 0 225595 0 0 0 PART I, LINE 4B BRANDON RIECHERS - PARTICIPATED IN 457-F PLAN, NO DISTRIBUTIONS, DEFERRED $696,343 WILLIAM BLACKBURN BOARD OF DIRECTOR & CO-OWNER OF L&M MAIL SERVICE 178475 2019 ANNUAL MAIL PROCESSING SERVICES 0 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 DECISION TO DISSOLVE OR MERGE THE ORGANIZATION REQUIRES APPROVAL OF MEMBERSHIP, UNLESS MANDATED BY REGULATORY AGENCY (I.E., NCUA, WISCONSIN OFFICE OF CREDIT UNIONS). FORM 990, PART VI, SECTION B, LINE 11B THE RETURN PREPARER EMAILS A COPY OF THE FINAL FORM 990 TO THE VP-FINANCE FOR REVIEW. THE CFO PERFORMS A FINAL REVIEW PRIOR TO SIGNING AND SUBMISSION TO THE IRS. THE CFO REPORTS THE COMPLETION OF THE FORM 990 BY THE REQUIRED DEADLINES TO MANAGEMENT AND THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS INCLUDED IN THE CODE OF ETHICS POLICY. THE POLICY, ALONG WITH OUR CORE SYSTEM, PREVENTS TEAM MEMBERS FROM TRANSACTING BUSINESS ON THEIR ACCOUNTS. THE CODE OF ETHICS ALSO PROHIBITS TEAM MEMBERS FROM TRANSACTING ON ACCOUNTS THEY ARE ASSOCIATED WITH, REGARDLESS OF OWNERSHIP. QUARTERLY, ALL TEAM MEMBERS RECEIVE NOTIFICATION THEY SHOULD NOT TRANSACT ON ANY ACCOUNTS THAT MAY POSE A POTENTIAL CONFLICT OF INTEREST. ALSO QUARTERLY, WE NOTIFY TEAM MEMBERS THEY MUST REPORT VIOLATIONS OF CODE OF ETHICS, INCLUDING CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 ROYAL CREDIT UNION UTILIZED VARIOUS SALARY SURVEYS AND AN OUTSIDE CONSULTANT TO DETERMINE COMPENSATION FOR CEO. ROYAL CREDIT UNION UTILIZES MARKET SALARY SURVEYS AND AN OUTSIDE COMPENSATION CONSULTANT TO ASSIST THEM IN DETERMINING MARKET APPROPRIATE SALARY GRADES AND THE PLACEMENT OF POSITIONS INTO THEM FOR THE EXECUTIVE TEAM. THE VP AND EVP OF THE TALENT SERVICES TEAM THEN REVIEWED AND APPROVED THE CONSULTANT'S RECOMMENDATION FOR THE EXECUTIVE TEAM'S MARKET SALARY RANGES AND BONUS TIER RECOMMENDATIONS IN ALIGNMENT TO OUR COMPENSATION PHILOSOPHY. ANY SIGNIFICANT CHANGES ARE ALSO APPROVED BY THE CEO. THIS PROCESS WAS MOST RECENTLY COMPLETED IN 2018. FORM 990, PART VI, SECTION C, LINE 19 ROYAL CREDIT UNION'S ANNUAL FINANCIAL STATEMENTS ARE POSTED IN ALL BRANCH OFFICES. YEAR-END FINANCIAL STATEMENTS ARE ALSO PROVIDED IN THE ANNUAL REPORT AND PRESENTED AT THE ANNUAL MEETING IN APRIL. GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE NOT AVAILABLE TO THE PUBLIC, BUT WOULD BE PROVIDED UPON REQUEST. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM LAST YEAR. 317 LLC 402 GRAHAM AVE EAU CLAIRE WI 54701 384119611 REAL ESTATE HOLDING COMPANY WI 18331 831380 ROYAL CREDIT UNION RCU FOUNDATION INC 200 RIVERFRONT TERRACE EAU CLAIRE WI 54703 461588898 BENEFIT THE COMMUNITIES ROYAL CREDIT UNION SERVES WI 501(C)(3) PF ROYAL CREDIT UNION 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 RCU FOUNDATION INC B 1267590 FAIR MARKET VALUE