2019-11-15T10:59:02-06:00 2018-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2018-01-01 396072970 ROYAL CREDIT UNION ROYA 7158338111 200 RIVERFRONT TERRACE EAU CLAIRE WI 54703 JON HEHLI CHIEF FINANCIAL OFFICER 7158338111 2019-11-15 1 TANYA MEDGAARDEN P01717240 5074347000 67.137.57.251 2019-11-15 09:08:15 CS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 6D81EDFA6B22A5FABEAF7AC11E4673F17E810770 2018 2020-03-31 21:24:44Z JON HEHLI 200 RIVERFRONT TERRACE EAU CLAIRE WI 54703 132280475 0 X WWW.RCU.ORG X CREDIT UNION 1964 WI TO CREATE A POSITIVE IMPACT IN THE LIVES WE TOUCH. 7 7 816 651 144181 0 0 0 111462612 130621252 4331754 1124786 0 0 115794366 131746038 589290 2183495 14039418 18676401 38871235 42809357 0 0 0 36677470 44697100 90177413 108366353 25616953 23379685 2211060527 2390524196 1973852838 2129936823 237207689 260587373 TO CREATE A POSITIVE IMPACT IN THE LIVES WE TOUCH. 0 0 WE FUNDED 43,191 LOANS DURING 2018. AS OF 12/31/18, WE HAD 24,441 MORTGAGES/HOME EQUITY, 114,694 CONSUMER LOANS AND 2,800 MEMBER BUSINESS LOANS. WE ALSO HAD 48,625 CREDIT CARD ACCOUNTS WITH OUR MEMBERS AT 12/31/18. WE HAVE DEPOSIT, TRANSACTION, AND INVESTMENT ACCOUNTS WITH 209,776 MEMBERS AT 12/31/18. DURING 2018, WE OPENED 53,181 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 0 0 0 0 0 0 0 0 1 1 1 0 1 58738 0 1 816 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 X JON HEHLI 7158338111 PO BOX 970 EAU CLAIRE WI 54702 DOUGLAS OLSON CHAIRMAN 10.00 X X 29425 0 0 STUART SCHAEFER VICE CHAIRPERSON 10.00 X X 15650 0 0 THOMAS HUFFCUTT TREASURER 10.00 X X 20750 0 0 JENNIFER MCDONOUGH SECRETARY 10.00 X X 18975 0 0 JOHN SACKETT ASSISTANT VICE CHAIRPERSON 10.00 X X 17725 0 0 NANCY BELTZ ASSISTANT TREASURER 10.00 X X 13575 0 0 WILLIAM BLACKBURN ASSISTANT SECRETARY 10.00 X X 15650 0 0 BRANDON RIECHERS CEO/PRESIDENT 40.00 X 621238 0 504960 JON HEHLI EVP-CFO 40.00 X 415834 0 28184 AMY FORCIER-PABST EVP-MEMBER EXPERIENCE 40.00 X 244030 0 31756 JAN JOHNSON EVP-ORGANIZATIONAL AGILITY 40.00 X 348166 0 16354 PETER NOHELTY EVP-CHIEF TECHNOLOGY OFFIC 40.00 X 660454 0 31313 MICHAEL DILL EVP-CHIEF LENDING OFFICER 40.00 X 151275 0 11130 PAMELA HALLER EVP-CHIEF DIGITAL EXPERIENCE & MARKETING 40.00 X 72893 0 2639 DAVID THOE VP-BUSINESS LENDING MANAGER 40.00 X 237156 0 28369 JARED JOHNSON MORTGAGE LOAN OFFICER 40.00 X 282719 0 11622 GLEN KENNISON VP-CREDIT RISK MANAGEMENT 40.00 X 252662 0 11553 JACOB SPIES REGIONAL MORTGAGE SALES MANAGER 40.00 X 237498 0 31205 MATTHEW CASEY FINANCIAL ADVISOR 40.00 X 232405 0 10886 3888080 0 719971 58 0 1 0 GREENDOOR GRAPHICS & ADVERTISING 2726 MONDOVI ROAD EAU CLAIRE WI 54701 PROFESSIONAL DESIGN SERVICES & ADVERTISI 918768 SERVICE SOLUTIONS INC 161 BUSINESS PARK CIRCLE STOUGHTON WI 53589 ATM MAINTENANCE 314525 WELD RILEY S C 3624 OAKWOOD HILLS PARKWAY EAU CLAIRE WI 54702 LEGAL COUNCIL 299065 THILLENS INC 4242 N ELSTON AVENUE CHICAGO IL 60618 ATM CASH PROVIDER 286226 PETER SCHWABE INC 13890 BISHOPS DRIVE STE 100 BROOKFILED WI 53005 ARCHITECTS 266066 18 LOAN INTEREST 522100 90096716 90096716 OTHER OPERATING INCOME 522100 26332106 26332106 SERVICE CHARGES & FEE INCOME 522100 14192430 14048249 144181 130621252 1199223 1199223 460000 534437 -74437 -74437 -74437 131746038 130477071 144181 1124786 2183495 18676401 3271976 30502233 1551385 4810874 2672889 566405 2155628 14083894 3087628 335847 114279 2889486 PROVISION FOR LOAN LOSS 10030795 LOAN SERVICING 8584050 MISCELLANEOUS OPERATING 2672203 OPERATING FEES 176885 108366353 101435946 68749109 14427265 8106338 29003506 23586170 1900408118 2137886211 3229769 3065015 83179661 45931296 37649486 37248365 31829063 21934770 29152419 29144597 12236450 11774510 51688505 49029111 2211060527 2390524196 46302451 45086228 1927550387 2084850595 1973852838 2129936823 X 0 0 0 0 237207689 260587373 237207689 260587373 2211060527 2390524196 X 23379685 -1 X X 0 1 X 1 1 1 7340535 7340535 41712617 16348289 25364328 1288404 865290 423114 32207538 28215510 3992028 630567 502207 128360 37248365 MEMBERS' SHARES 2084850595 2084850595 X 130707680 0 130707680 1038358 1038358 131746038 107327995 0 107327995 1038358 1038358 108366353 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: DEALER LOAN INCENTIVE 50. MISCELLANEOUS INVESTMENT INCOME 1,026,255. OTHER INCOME 12,053. PART XII, LINE 4B - OTHER ADJUSTMENTS: DEALER LOAN INCENTIVE 50. MISCELLANEOUS INVESTMENT INCOME 1,026,255. OTHER INCOME 12,053. 1 ROYAL CREDIT UNION FOUNDATION 200 RIVERFRONT TERRACE EAU CLAIRE WI 54703 461588898 501(C)(3) 1466434 TO PROVIDE FINANCIAL SUPPORT TO THE FOUNDATION TO FULFILL ITS EXEMPT PURPOSE. RIVER FALLS ECONOMIC DEVELOPMENT CORPORATION 222 NORTH LEWIS STREET RIVER FALLS WI 54022 391685445 501(C)(6) 10000 ST. CROIX VALLEY BUSINESS INNOVATION CENTER 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) 20000 CARSON PARK TURF MARSHFIELD CLINIC 1000 N OAK AVENUE MARSHFIELD WI 54449 390452970 501(C)(3) 10000 CANCER CENTER ROOM HOPE GOSPEL MISSION PO BOX 1127 EAU CLAIRE WI 54702 391948605 501(C)(3) 6000 RENEWAL CENTER FOR WOMEN WITH CHILDREN PART I, LINE 2: 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 1 1 0 BRANDON RIECHERS CEO/PRESIDENT 511522 0 103461 0 6255 0 504074 0 886 0 1126198 0 0 0 JON HEHLI EVP-CFO 310006 0 96950 0 8878 0 13750 0 14434 0 444018 0 0 0 AMY FORCIER-PABST EVP-MEMBER EXPERIENCE 190190 0 52229 0 1611 0 12650 0 19106 0 275786 0 0 0 JAN JOHNSON EVP-ORGANIZATIONAL AGILITY 262290 0 83646 0 2230 0 8630 0 7724 0 364520 0 0 0 PETER NOHELTY EVP-CHIEF TECHNOLOGY OFFIC 226161 0 64946 0 369347 0 13750 0 17563 0 691767 0 0 0 MICHAEL DILL EVP-CHIEF LENDING OFFICER 113113 0 0 0 38162 0 3164 0 7966 0 162405 0 0 0 DAVID THOE VP-BUSINESS LENDING MANAGER 187383 0 48541 0 1232 0 9254 0 19115 0 265525 0 0 0 JARED JOHNSON MORTGAGE LOAN OFFICER 237199 0 44897 0 623 0 10736 0 886 0 294341 0 0 0 GLEN KENNISON VP-CREDIT RISK MANAGEMENT 202811 0 48041 0 1810 0 9637 0 1916 0 264215 0 0 0 JACOB SPIES REGIONAL MORTGAGE SALES MANAGER 184926 0 52476 0 96 0 12111 0 19094 0 268703 0 0 0 MATTHEW CASEY FINANCIAL ADVISOR 232405 0 0 0 0 0 9378 0 1508 0 243291 0 0 0 PART I, LINES 4A-B BRANDON RIECHERS - PARTICIPATED IN 457-F PLAN, NO DISTRIBUTIONS, DEFERRED $490,324 PETER NOHELTY - RECEIVED SEVERANCE PAYMENT OF $356,086 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 ALS0 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 CONSULTATNT 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 XI, LINE 9: ROUNDING -1. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM LAST YEAR. 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 1 0 0 RCU FOUNDATION INC B 1466434 FAIR MARKET VALUE