2019-07-15T13:35:34-05:00 2018-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2018-01-01 390402815 KOHLER CREDIT UNION KOHL 9204592585 850 WOODLAKE ROAD KOHLER WI 53044 JOHN EHMANN EVP/CFO 9204592585 2019-07-01 1 TANYA MEDGAARDEN P01717240 5074347000 67.137.57.251 2019-07-01 10:13:05 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 7A2530376EEDFC7FE0F7DAC06F6A4F595BE778F8 2018 2019-02-21 02:37:17Z TONY KLOCKOW 850 WOODLAKE ROAD KOHLER WI 53044 19502108 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 9 172 9 66518 0 0 0 17537739 18950710 326066 551354 0 0 17863805 19502064 41505 45000 377375 1234140 7509106 7568132 0 0 0 7089664 7423639 15017650 16270911 2846155 3231153 362221136 410820638 330275453 376802663 31945683 34017975 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 $166 MILLION IN NEW LOANS WERE ORIGINATED AND OVER $351 MILLION IN LOAN BALANCES WERE SERVICED FOR MEMBER/OWNERS. MORE THAN $373 MILLION IN DEPOSIT ACCOUNTS WERE MAINTAINED AND OVER $1.23 MILLION IN DIVIDENDS WERE PAID ON DEPOSIT ACCOUNTS TO MORE THAN 41,000 MEMBER/OWNERS IN 2018. DATA PROCESSING COSTS EXCEEDING JUST OVER $1.5 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 7787 0 1 172 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 WI X JOHN EHMANN 9204592585 850 WOODLAKE ROAD KOHLER WI 53044 JOHN PERSONNE DIRECTOR 2.50 X X 0 0 0 BRIAN POST TREASURER 2.50 X X 0 0 0 JOSEPH VIRANT SECRETARY 2.50 X X 0 0 0 LAURIE LINDOW DIRECTOR 2.50 X 0 0 0 DENISS MAKEJENKO DIRECTOR 2.50 X 0 0 0 TODD ULLMAN VICE CHAIR 2.50 X 0 0 0 CHRIS LACEY CHAIR 2.50 X X 0 0 0 DAN GRUENLOH DIRECTOR 2.50 X 0 0 0 LYN NUDD DIRECTOR 2.50 X 0 0 0 TONY KLOCKOW PRESIDENT 50.00 X 436933 0 22833 JOHN EHMANN CFO/SVP FINANCE 50.00 X 186434 0 16606 AMY GRINNA CIO/SVP 50.00 X 185596 0 4045 DALE LIVINGSTON SVP LENDING 50.00 X 154431 0 16411 SUSAN PETSKA MORTGAGE LOAN ORIGINATOR 40.00 X 145851 0 12428 MARK HUEHNS DIRECTOR-INFORMATION SYSTE 40.00 X 115024 0 1950 SUSAN VANDERMEUSE INTERNAL AUDITOR 50.00 X 103758 0 13531 ROBERT MEYER FORMER DIRECTOR-BUSINESS SERVICES 40.00 X 117485 0 8930 1445512 0 96734 8 1 1 0 FISERV 75 REMITTANCE DR DEPT 1649 CHICAGO IL 60067 DATA PROCESSING 1171136 FIS 4900 W BROWN DEER RD BROWN DEER WI 53223 DEBIT CARD PROCESSING 528262 FINANCIAL SUPERMARKETS INC 383 CLARKESVILLE STREET PO BOX 1450 CORNELIA GA 30531 CONSULTANT 386172 MCDMASTERCARD 2000 PURCHASE ST PURCHASE NY 10577 PAYMENT CARD PROCESSING 291557 EDGE ONE INC 161 BUSINESS PARK CIRCLE STOUGHTON WI 53589 ATM SALES & SERVICE 252900 13 LOAN INTEREST 900099 12614863 12614863 OTHER INCOME 524298 3998421 3990798 7623 FEE INCOME 522100 2337426 2278531 58895 18950710 551398 551398 44 -44 -44 -44 19502064 18884192 66518 551354 45000 1234140 1023289 5313673 232882 544238 454050 32589 116300 4214310 704384 510657 818144 EDUCATIONAL AND PROMOTI 473538 LOAN SERVICING EXPENSE 320177 PROVISION FOR LOAN LOSS 157649 MISCELLANEOUS OPERATING 150729 -74838 16270911 3756292 4190501 11667615 22287550 110619 71145 312528388 351005568 643077 693621 25288732 11239521 13269205 14049211 3085298 2067319 593436 624160 2100190 2100190 14467016 13731373 362221136 410820638 3227025 3673206 327048428 373129457 330275453 376802663 X 0 0 0 0 31945683 34017975 31945683 34017975 362221136 410820638 X 3231153 -11987 -1146874 X X 0 1 X 1 0 5018388 5018388 12445367 5124260 7321107 7253096 6115261 1137835 571881 571881 14049211 MEMBER DEPOSITS 372185457 NONMEMBER DEPOSITS 944000 373129457 X 19502112 48 48 19502064 0 19502064 16270954 43 43 16270911 0 16270911 PART X, LINE 2: THE CREDIT UNION IS GENERALLY EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES AND STATE CORPORATE BUSINESS TAX. HOWEVER, THE CREDIT UNION IS SUBJECT TO FEDERAL TAX ON NET UNRELATED BUSINESS INCOME. IN ADDITION, WISCONSIN INCOME TAX MAY BE IMPOSED BASED ON THE LEVEL OF MUNICIPAL DEPOSITS AT THE CREDIT UNION. PART XI, LINE 2D - OTHER ADJUSTMENTS: ROUNDING 5. NET LOSS ON SALE OF ASSET 43. PART XII, LINE 2D - OTHER ADJUSTMENTS: NET LOSS ON SALE OF ASSET 43. ROUNDING 1 SCHOLARSHIPS 18 45000 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, LEADEERSHIP, CITIZENSHIP AND INVOLVEMENT. X 1 1 X X X X X 1 1 0 TONY KLOCKOW PRESIDENT 242218 0 44672 0 150043 0 4189 0 18644 0 459766 0 0 0 JOHN EHMANN CFO/SVP FINANCE 162569 0 23865 0 0 0 4178 0 12428 0 203040 0 0 0 AMY GRINNA CIO/SVP 162750 0 22846 0 0 0 4045 0 0 0 189641 0 0 0 DALE LIVINGSTON SVP LENDING 134441 0 19990 0 0 0 0 0 16411 0 170842 0 0 0 SUSAN PETSKA MORTGAGE LOAN ORIGINATOR 144109 0 1742 0 0 0 0 0 12428 0 158279 0 0 0 ROBERT MEYER FORMER DIRECTOR-BUSINESS SERVICES 72740 0 12721 0 32024 0 1777 0 7153 0 126415 0 0 0 PART I, LINE 1A HEALTH CLUB BENEFITS OF $1,250 FOR TONY KLOCKOW - INCLUDED IN TAXABLE COMPENSATION. PART I, LINES 4A-B TONY KLOCKOW - PARTICIPATED IN NON-QUALIFIED PLAN - 2018 PAYOUT OF $100,000. KEVIN O'CONNOR - SEVERANCE PAYMENT - $70,000 ROBERT MEYER - SEVERANCE PAYMENT - $32,204 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS COMPRISED OF 41,236 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 ARE ELIGIBLE FOR MEMBERSHIP. 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 -1,146,874. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM PRIOR YEAR.