2025-10-08T10:08:18-05:00 2024-12-31 331498605 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2024-01-01 390671465 UNIVERSITY OF WISCONSIN CREDIT UNION UNIV 6082325000 8033 EXCELSIOR DR MADISON WI 53717 BRAD MCCLAIN EXEC VP/CFO 6082325000 2025-10-01 1 1 JOSHUA NITZ CPA P01946955 2695674500 2025-10-01 2024 2025-03-06 01:10:19Z UW CREDIT UNION PAUL KUNDERT 8033 EXCELSIOR DR MADISON WI 53717 988019859 0 X WWW.UWCU.ORG X 1931 WI THE UNIVERSITY OF WISCONSIN CREDIT UNION IS A FEDERALLY INSURED FINANCIAL INSTITUTION THAT PROVIDES CONSUMER FINANCIAL PRODUCTS AND SERVICES TO MEET THE MONEY MANAGEMENT GOALS OF ITS MEMBERS. 9 9 1108 9 5225393 0 0 0 249218383 307850415 31598427 55946405 71550 -23300 280888360 363773520 0 305268 0 0 87233200 96420703 0 0 0 166023913 235058972 253257113 331784943 27631247 31988577 5303715566 5653143610 4833219666 5150209861 470495900 502933749 X THE MISSION OF THE UNIVERSITY OF WISCONSIN CREDIT UNION (UWCU) IS TO ENCOURAGE THRIFT AMONG ITS MEMBERS, TO CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST, TO PROVIDE AN OPPORTUNITY FOR ITS MEMBERS TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS AND TO PERFORM THE FUNCTIONS AND EXERCISE THE POWERS DESIGNATED TO THE CREDIT UNION UNDER APPLICABLE LAW. 0 0 UWCU EXTENDED NEARLY $1.3 BILLION IN CONSUMER CREDIT - ENABLING MEMBERS TO CONTINUE BUILDING THEIR LIVES THROUGH HOME IMPROVEMENTS, RELIABLE VEHICLES, CONTINUING EDUCATION AND MUCH MORE. IN DANE COUNTY, UWCU WAS BOTH THE TOP PURCHASE AND REFINANCE LENDER. IN THE MILWAUKEE METRO MARKET, UWCU RANKED 4TH FOR PURCHASES, ENABLING MORE FAMILIES TO AFFORD THEIR FIRST HOMES. UWCU ALSO HELPED STUDENTS FUND THEIR EDUCATION, WITH OVER 1600 STUDENT LOANS FUNDED. UWCU CONTINUES TO ELIMINATE FEES RELATED TO NON-SUFFICIENT FUNDS, CERTAIN DEBIT OVERDRAFTS AND RETURNED CHECKS. IN 2024, UWCU WELCOMED 18,000 NEW MEMBERS AND OPENED NEARLY 15,000 CHECKING ACCOUNTS. THE CREDIT UNION'S HONEST AND STRAIGHTFORWARD BUSINESS PRACTICES CONTINUE TO DRIVE MEMBERSHIP AND RELATIONSHIP GROWTH. AT THE END OF 2024, UWCU SERVED OVER 366,000 MEMBERS AND OVER 293,000 CHECKING ACCOUNTS. UWCU CONTINUES TO FOCUS ON DELIVERING FINANCIAL SERVICES IN A TRUSTWORTHY MANNER. UWCU CONTINUES TO PROVIDE CREDIT CONSULTATION SERVICES, A FREE SERVICE THAT BENEFITS ANY MEMBER. MEMBERS CAN MEET WITH A FINANCIAL SPECIALIST TO REVIEW THEIR CREDIT REPORT, GAIN KNOWLEDGE ABOUT THEIR CREDIT SCORE, AND RESEARCH OPTIONS TO LOWER RATES ON EXISTING LOANS. UWCU OFFERS A STUDENT LOAN REFINANCE PRODUCT WHICH ALLOWS MEMBERS TO REFI MULTIPLE LOANS INTO ONE WITH A LOW RATE AND ONE EASY PAYMENT. UWCU OFFERS LOW-LIMIT, LOW RATE CREDIT CARDS FOR YOUNG ADULTS TO HELP THEM BUILD THEIR CREDIT RESPONSIBLY, AND AFFORDABLE NO ANNUAL FEE SECURED CREDIT CARDS FOR MEMBERS NEEDING TO REPAIR THEIR CREDIT. UWCU OFFERS AN OVERDRAFT LINE OF CREDIT PROTECTION WITH NO ANNUAL FEE. MEMBERS HAVE ACCESS TO THEIR CREDIT SCORE VIA WEB BRANCH. UWCU OFFERED 235 FINANCIAL LITERACY SESSIONS ON COLLEGE CAMPUSES, REACHING ALMOST 20,000 PARTICIPANTS. 0 0 0 0 0 0 0 1 0 1 1 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 0 0 0 1 186938 0 1 1108 1 1 1 0 0 0 0 0 1 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X BRAD MCCLAIN 6082325000 8033 EXCELSIOR DR MADISON WI 53717 X KELLY WILSON DIRECTOR - CHAIR 3.00 0.00 X X 900 0 0 STEVEN RICK DIRECTOR - VICE CHAIR 3.00 0.00 X X 900 0 0 TERRY WARFIELD DIRECTOR - TREASURER 3.00 0.00 X X 900 0 0 PHYLLIS KING DIRECTOR - SECRETARY 3.00 0.00 X X 0 0 0 PAUL KUNDERT PRESIDENT & CEO 45.00 0.00 X 1040522 0 433073 BRAD MCCLAIN EVP & CFO 45.00 0.00 X 501356 0 62086 JONATHAN BUNDY EVP & CLO AND ASST CORP SECRETARY 45.00 0.00 X 352646 0 65670 ROB VAN NEVEL EVP & COO 45.00 0.00 X 526193 0 45688 RALPH BUELLING EVP & CIO 45.00 0.00 X 412484 0 68025 ANNE NORMAN EVP & CMPSO 45.00 0.00 X 342817 0 58596 PAM PETERSON EVP & CPO 45.00 0.00 X 326935 0 54132 TONY KONKOL VP OF INFO TECHNOLOGY 45.00 0.00 X 271006 0 60511 AMY KRIEBS SVP MEMBER SALES AND SOLUTIONS 45.00 0.00 X 258831 0 49227 TEO TRANDAFIR VP OF WEALTH MANAGEMENT 45.00 0.00 X 475027 0 69766 AARON LAWRY WEALTH ADVISOR 40.00 0.00 X 347235 0 21376 JEREMY MARSHALL WEALTH ADVISOR 40.00 0.00 X 326093 0 62652 KYLE JUDD WEALTH ADVISOR 40.00 0.00 X 317607 0 23486 JUSTIN NOVARA WEALTH ADVISOR 40.00 0.00 X 291246 0 36338 MICHAEL CARR DIRECTOR 2.00 0.00 X 900 0 0 MICHAEL COLLINS DIRECTOR 2.00 0.00 X 900 0 0 KIMILA DANIELS DIRECTOR 2.00 0.00 X 900 0 0 LEANA NAKIELSKI MESDJIAN DIRECTOR 2.00 0.00 X 0 0 0 JEFFREY RUSSELL DIRECTOR 2.00 0.00 X 900 0 0 5796298 0 1110626 174 0 1 0 KRUPP GENERAL CONTRACTORS LLC 749 UNIVERSITY ROW STE 101 MADISON WI 53705 CONSTRUCTION 1624455 ADAM ALBRECHT THE WEAPONARY LLC 330 E KILOURN AVE SUITE 625 MILWAUKEE WI 53202 CONSULTING 984604 ADRENALINE LLC 195 NEW HAMPSHIRE AVE PORTSMOUTH NH 03801 CONSULTING 882644 ENCORE ONECLEAN POWER 2077 S 116TH ST WEST ALLIS WI 53227 CLEANING 727681 ADAMS OUTDOOR ADVERTISING 102 EAST BADGER RD MADISON WI 53713 ADVERTISING 692906 8 INTEREST ON LOANS 522100 240161816 240161816 CARD & ATM INTERCHANGE 522100 46167709 45991593 176116 LOAN SERVICING FEES 522100 8772825 8772825 INVESTMENT & INSURANCE 522100 7587427 2538150 5049277 SERVICE CHARGES & FEES 522100 5160638 5160638 307850415 49429294 49429294 388626 411926 -23300 -23300 -23300 99677260 530674264 105019540 518814873 -5342280 11859391 6517111 11859391 -5342280 363773520 314484413 5225393 44063714 305268 4936099 71099124 5108867 9917038 5359575 201869 617697 3476608 12413205 7270668 16256226 8404314 354622 639026 95557869 12473124 598587 LOAN LOSS PROVISION 32808296 CARD PROCESSING EXPENSE 29137374 LOAN SERVICING EXPENSE 11176139 FRAUD AND FORGERY LOSSE 1414612 2258736 331784943 46130434 33385622 259437914 522753370 4018073 7003692 3743094339 4113752380 60854950 61603553 325455668 75473478 252306040 249982190 891388630 616447626 46485186 48215177 5303715566 5653143610 79116762 61581734 8966500 11217714 16863582 15580543 150000000 200000000 4578272822 4861829870 4833219666 5150209861 X 0 0 0 0 470495900 502933749 470495900 502933749 5303715566 5653143610 X 31988577 610210 -160938 X X 0 1 X 1 0 0 1 X 49794166 49794166 186495320 31646645 154848675 15622525 4210421 11412104 50447682 28274644 22173038 23095975 11341768 11754207 249982190 AVAILABLE FOR SALE 605504834 F FHLB STOCK 10942792 C 616447626 MEMBER DEPOSITS 4846251795 OUTSTANDING CASHIERS CHECKS 15578075 4861829870 X 240988423 238788 238788 240749635 123023885 123023885 363773520 209160784 5754206 5754206 203406578 128378365 128378365 331784943 PART IV, LINE 2B: THE CREDIT UNION MAINTAINS REAL ESTATE ESCROW ACCOUNTS USED TO PAY MEMBERS' REAL ESTATE TAXES AND INSURANCE. PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION DOES, HOWEVER, PAY SALES TAX, PROPERTY TAX, PAYROLL TAXES, AND FEDERAL AND STATE INCOME TAX ON UNRELATED BUSINESS ACTIVITIES. THE INTERNAL REVENUE SERVICE (IRS) AND CERTAIN TAXING AUTHORITIES ARE EVALUATING WHAT, IF ANY, PRODUCTS AND SERVICES PROVIDED BY STATE-CHARTERED CREDIT UNIONS OR THEIR CREDIT UNION SERVICE ORGANIZATIONS ARE SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). THERE IS CURRENTLY VERY LITTLE GUIDANCE IN THE IRS CODE ON WHAT ACTIVITIES SHOULD BE SUBJECT TO UBIT. THE IRS HAS ISSUED CERTAIN TECHNICAL ADVICE MEMORANDUMS IDENTIFYING CERTAIN ACTIVITIES AS BEING SUBJECT TO UBIT. AS A RESULT, AT THIS TIME THERE IS UNCERTAINTY REGARDING WHETHER STATE-CHARTERED CREDIT UNIONS SHOULD PAY INCOME TAX ON CERTAIN TYPES OF NET TAXABLE INCOME FROM ACTIVITIES THAT MAY BE CONSIDERED BY TAXING AUTHORITIES AS UNRELATED TO THE PURPOSE FOR WHICH CREDIT UNIONS WERE GRANTED NON-TAXABLE STATUS. THE TAX LIABILITY RECORDED BY THE CREDIT UNION AS OF DECEMBER 31, 2024 AND 2023 ATTRIBUTED TO UNRELATED BUSINESS ACTIVITIES WAS NOT MATERIAL. PART XI, LINE 2D - OTHER ADJUSTMENTS: MORTGAGE HEDGING VALUATION -160,938. RENTAL EXPENSES 411,926. LOSS OF SALE OF FIXED ASSETS -12,200. PART XI, LINE 4B - OTHER ADJUSTMENTS: PROVISION FOR LOAN LOSS 32,808,296. INTEREST EXPENSE 95,557,869. LOSS ON SALE OF SECURITIES -5,342,280. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 411,926. LOSS ON SALE OF SECURITIES 5,342,280. PART XII, LINE 4B - OTHER ADJUSTMENTS: PROVISION FOR LOAN LOSS 32,808,296. INTEREST EXPENSE 95,557,869. LOSS OF SALE OF FIXED ASSETS 12,200. 1 UNITED WAY OF DANE COUNTY 2059 ATWOOD AVE MADISON WI 53704 390817532 501(C)3 133509 0 COMMUNITY OUTREACH COMMUNITY SHARES OF WI 612 W MAIN ST STE 200 MADISON WI 53703 391172378 501(C)3 28125 0 COMMUNITY OUTREACH WAYFORWARD RESOURCES INC 3502 PARMENTER ST MIDDLETON WI 53562 391484945 501(C)3 20000 0 COMMUNITY OUTREACH UWM FOUNDATION 1440 E NORTH AVE MILWAUKEE WI 53202 237337744 501(C)3 20000 0 COMMUNITY OUTREACH THE YOUNG WOMEN'S CHRISTIAN ASSOCIATION OF MADISON 101 E MIFFLIN ST STE 100 MADISON WI 53703 390806303 501(C)3 20000 0 COMMUNITY OUTREACH PATHFINDERS MILWAUKEE INC 4200 N HOLTON ST STE 400 MILWAUKEE WI 53212 391185304 501(C)3 20000 0 COMMUNITY OUTREACH OPERATION FRESH START INC 2670 MILWAUKEE ST MADISON WI 53704 237108090 501(C)3 20000 0 COMMUNITY OUTREACH BOYS & GIRLS CLUBS OF GREATER MILWAUKEE INC 1558 N 6TH ST MILWAUKEE WI 53212 390806292 501(C)3 20000 0 COMMUNITY OUTREACH BAYVIEW FOUNDATION INC 601 BAYVIEW MADISON WI 53715 396092644 501(C)3 10000 0 COMMUNITY OUTREACH UNITED WAY OF GREATER MILWAUKEE & WAUKESHA COUNTIES 225 W VINE ST MILWAUKEE WI 53212 390806190 501(C)3 8634 0 COMMUNITY OUTREACH 10 0 PART I, LINE 2: UNIVERSITY OF WISCONSIN CREDIT UNION CONTRIBUTES TO ORGANIZATIONS THAT ARE TAX EXEMPT ORGANIZATIONS. UNIVERSITY OF WISCONSIN CREDIT UNION CONTRIBUTES TO SUPPORT THE GENERAL OPERATIONS OF THESE ORGANIZATIONS. X 1 1 X 0 1 0 PAUL KUNDERT PRESIDENT & CEO 820881 0 193120 0 26521 0 391998 0 41075 0 1473595 0 0 0 ROB VAN NEVEL EVP & COO 416708 0 102099 0 7386 0 30450 0 15238 0 571881 0 0 0 BRAD MCCLAIN EVP & CFO 380819 0 99707 0 20830 0 30450 0 31636 0 563442 0 0 0 TEO TRANDAFIR VP OF WEALTH MANAGEMENT 178425 0 292873 0 3729 0 30450 0 39316 0 544793 0 0 0 RALPH BUELLING EVP & CIO 331115 0 75531 0 5838 0 30450 0 37575 0 480509 0 0 0 JONATHAN BUNDY EVP & CLO AND ASST CORP SECRETARY 276409 0 71342 0 4895 0 28272 0 37398 0 418316 0 0 0 AARON LAWRY WEALTH ADVISOR 48198 0 298227 0 810 0 20416 0 960 0 368611 0 0 0 ANNE NORMAN EVP & CMPSO 270011 0 68546 0 4260 0 27368 0 31228 0 401413 0 0 0 PAM PETERSON EVP & CPO 254482 0 64757 0 7696 0 25547 0 28585 0 381067 0 0 0 JEREMY MARSHALL WEALTH ADVISOR 40592 0 283211 0 2290 0 28627 0 34025 0 388745 0 0 0 KYLE JUDD WEALTH ADVISOR 52512 0 263675 0 1420 0 22103 0 1383 0 341093 0 0 0 JUSTIN NOVARA WEALTH ADVISOR 76292 0 213672 0 1282 0 23513 0 12825 0 327584 0 0 0 TONY KONKOL VP OF INFO TECHNOLOGY 238819 0 25238 0 6949 0 24006 0 36505 0 331517 0 0 0 AMY KRIEBS SVP MEMBER SALES AND SOLUTIONS 225272 0 28234 0 5325 0 21061 0 28166 0 308058 0 0 0 PART I, LINE 1A AS PRESCRIBED IN THE BOARD GOVERNANCE POLICY, TO PROVIDE FOR THE DEVELOPMENT OF MEMBER ELECTED BOARD MEMBERS, AND BUILD THEIR KNOWLEDGE TO SERVE EFFECTIVELY, EACH DIRECTOR IS EXPECTED TO SEEK OUT EDUCATIONAL AND DEVELOPMENT CONFERENCES AND OPPORTUNITIES FOR THIS PURPOSE. DIRECTORS ARE ECOURAGED TO PARTICIPATE IN AT LEAST ONE EDUCATIONAL CONFERENCE EVERY TWO YEARS. CONSISTENT WITH THE GUIDANCE OF THE NATIONAL CREDIT UNION ADMINISTRATION AND TO ENCOURAGE DIRECTORS TO TAKE PERSONAL TIME TO ATTEND EDUCATIONAL AND DEVELOPMENT MEETINGS, DIRECTORS AS A COURTESTY MAY BE REIMBURSED FOR THE REASONABLE COSTS OF THEIR TRAVEL AND ATTENDANCE INCLUDING A GUEST, WHO MAY ACCOMPANY THEM ON CREDIT UNION RELATED TRAVEL. WHILE THE NCUA HAS INDICATED IN LETTER 05-FCU-02 THAT THEY DO NOT CONSIDER GUEST TRAVEL TO BE COMPENSATION TO DIRECTORS, FOR TAX REPORTING PURPOSES THE CREDIT UNION DOES ISSUE FORM 1099-NEC RELATED TO GUEST TRAVEL. FOR 2024, THE CREDIT UNION DID NOT PAY FOR ANY COMPANION TRAVEL. PART I, LINE 4B THE BOARD ESTABLISHED A DEFERRED COMPENSATION PLAN FOR THE PRESIDENT. THE PLAN IS DESIGNED TO COMPENSATE FOR BENEFITS NOT ELEGIBLE UNDER THE 401(K) PLAN AS A RESULT OF LIMITATIONS IMPOSED BY THE IRS ON THE ALLOWABLE CONTRIBUTIONS, AS WELL AS TO PROVIDE A LONG TERM INCENTIVE FOR SUSTAINED PERFORMANCE. TOTAL CONTRIBUTIONS IN 2024 WERE $361,548. THE PRESIDENT DID NOT VEST IN ANY OF THE PLAN CONTRIBUTIONS IN 2024 RESULTING IN NO TAXABLE INCOME. CUMULATIVE DEFERRED COMPENSATION PAYABLE TO THE PRESIDENT IS A GENERAL CREDITOR OBLIGATION OF THE CREDIT UNION. FUTURE DISBURSEMENTS (IF ANY) OF THE CUMULATIVE DEFERRED COMPENSATION PAYABLE ARE CONTINGENT ON THE CONDITIONS ESTABLISHED BY THE PLAN. FORM 990, PART VI, SECTION A, LINE 1A THE UNIVERSITY OF WISCONSIN CREDIT UNION DELEGATES BROAD AUTHORITY TO ACT ON BEHALF OF THE FULL BOARD TO AN EXECUTIVE COMMITTEE CONSISTING OF FOUR BOARD MEMBERS INCLUDING THE BOARD CHAIR, VICE CHAIR, SECRETARY AND TREASURER. FORM 990, PART VI, SECTION A, LINE 6 ALL MEMBERS OF THE CREDIT UNION ARE GIVEN ONE VOTE IN ELECTION OF BOARD MEMBERS, OR THE APPROVAL OF SIGNIFICANT DECISIONS, WITHOUT PREFERENCE TO THE AMOUNT OF FUNDS THEY HAVE ON DEPOSIT WITH THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A THE UNIVERSITY OF WISCONSIN CREDIT UNION IS A MEMBER OWNED COOPERATIVE BUSINESS ORGANIZATION, GOVERNED BY A NINE MEMBER BOARD OF DIRECTORS. THE BOARD IS COMPRISED OF ACTIVE MEMBERS OF THE CREDIT UNION WHO ARE SELECTED BY THE MEMBERSHIP THROUGH A DEMOCRATIC ELECTION PROCESS. FORM 990, PART VI, SECTION A, LINE 7B AT ANY MEMBERSHIP MEETING, MEMBERS MAY SUBMIT A PETITION IN ADVANCE TO ALLOW A MAJORITY OF THE MEMBERS PRESENT TO DIRECT THE BOARD TO CONSIDER POLICIES PROPOSED BY THE MEMBERS, OR RECONSIDER ANY DECISION OF THE DIRECTORS, OFFICERS, OR COMMITTEES OR TO AMEND THE BYLAWS. FURTHERMORE, THE MEMBERS MUST APPROVE OF ANY CONSOLIDATIONS OR MERGERS WHEN IT RESULTS IN A CHANGE OF MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE CEO, CFO, AND CONTROLLER PERFORM A THOROUGH REVIEW OF THE DRAFT FORM 990 PRIOR TO THE FULL BOARD REVIEW. A DRAFT COPY OF THE FORM 990 IS PRESENTED TO THE AUDIT COMMITTEE. A FINAL COPY OF THE RETURN IS PROVIDED TO THE FULL BOARD PRIOR TO FILING THE RETURN WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS, OFFICERS, AND EMPLOYEES ARE REQUIRED TO ANNUALLY DISCLOSE ANY CONFLICTS OF INTERESTS THEY MAY HAVE WITH THE ORGANIZATION. THE CHIEF LEGAL OFFICER REVIEWS EACH POLICY STATEMENT SIGNED BY THESE INDIVIDUALS TO DETERMINE IF ANY CONFLICTS HAVE OCCURRED AND NEED TO BE BROUGHT TO THE ATTENTION OF THE BOARD. IF A CONFLICT ARISES, THE RESPECTIVE BOARD MEMBER WILL ABSTAIN HIM/HERSELF FROM ANY RELATED DISCUSSION, VOTE OR SIMILAR ACTION IN THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 AS PROVIDED BY THE BYLAWS, THE PRESIDENT IS THE CHIEF EXECUTIVE OFFICER AND THE TOP MANAGEMENT OFFICIAL. THE PRESIDENT SERVES AT THE PLEASURE OF THE BOARD OF DIRECTORS. AS PRESCRIBED BY THE BYLAWS THE BOARD OF DIRECTORS SETS THE COMPENSATION OF THE PRESIDENT. THE BOARD HAS EXECUTED A FORMAL EMPLOYMENT AGREEMENT WITH THE PRESIDENT, WHICH PROVIDES THAT EITHER PARTY MAY TERMINATE THE AGREEMENT AT ANY TIME. PER THE TERMS OF THE CONTRACT, BIENNIALLY THE BOARD SETS THE COMPENSATION OF THE PRESIDENT USING INDEPENDENTLY OBTAINED DATA TO BENCHMARK THE MARKET VALUE OF THE POSITION, WHICH WAS LAST UNDERTAKEN IN 2024. ALL EMPLOYEES OF THE CREDIT UNION, INCLUDING THE PRESIDENT, ARE ELIGIBLE TO RECEIVE A BASE PAY AS WELL AS A VARIABLE PAY BONUS BASED ON THE ATTAINMENT OF THE ORGANIZATIONAL GOALS, WHICH INCLUDE MEMBER SATISFACTION AND FINANCIAL STEWARDSHIP. THE VARIABLE PAY POTENTIAL BONUS POOL FUNDS ARE APPROVED BY THE BOARD OF DIRECTORS. ALL EMPLOYEES PARTICIPATE BASED ON THEIR INDIVIDUAL PERFORMANCE AND SALARY GRADE. THE PRESIDENT RECEIVES THE SAME LIFE, MEDICAL, DISABILITY, AND DENTAL INSURANCE, AND 401(K) BENEFITS THAT ARE AVAILABLE TO ALL FULL-TIME EMPLOYEES OF THE CREDIT UNION. THE PRESIDENT IS PROVIDED WITH OTHER BENEFITS WHICH INCLUDE A SUPPLEMENTAL DISABILITY INSURANCE POLICY AND AN AUTOMOBILE ALLOWANCE. THE BOARD OF DIRECTORS' DELIBERATIONS AND DETERMINATIONS REGARDING COMPENSATION ARE RECORDED ON A TIMELY BASIS IN THE MINUTES OF THEIR MEETINGS. THE CHIEF EXECUTIVE OFFICER OF THE CREDIT UNION APPROVES THE COMPENSATION OF ALL SUBORDINATE OFFICERS OF THE CREDIT UNION. CONSISTENT WITH ALL OTHER CREDIT UNION EMPLOYEE POSITIONS, THE CREDIT UNION FOLLOWS A COMPENSATION SYSTEM THAT ASSIGNS A POSITION GRADE AND SALARY RANGE FOR EACH POSITION. AT LEAST BIENNIALLY, INDEPENDENT BENCHMARK DATA FROM AT LEAST TWO SOURCES IS OBTAINED. BASED ON THE MEDIAN OF THE BLENDED BENCHMARKS, POSITIONS ARE ASSIGNED TO A SALARY GRADE. FOR SUBORDINATE OFFICERS, COMPENSATION ADJUSTMENTS CAN BE MADE BY THE CHIEF EXECUTIVE OFFICER BASED ON INDIVIDUAL PERFORMANCE WITHIN THE CONFINES OF THE ESTABLISHED SALARY GRADE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE ON THE CREDIT UNIONS PUBLIC WEBSITE. THE CONFLICT-OF-INTEREST POLICY IS AVAILABLE TO EMPLOYEES OF THE CREDIT UNION ON THE INTERNAL INTRANET AND IS REQUIRED TO BE REVIEWED AND SIGNED BY THEM ANNUALLY; THE CONFLICT-OF-INTEREST POLICY IS NOT AVAILABLE TO THE PUBLIC. FORM 990, PART VII, SECTION A, LINE 1A, COLUMN (D) AS A CONVENIENCE TO UW CREDIT UNION, AND TO MINIMIZE THE CREDIT UNION'S ADMINISTRATIVE BURDEN RELATED TO PROCESSING AND PAYING INCIDENTAL OUT-OF-POCKET EXPENSES SUCH AS TELEPHONE, MILEAGE, PARKING, COPYING, POSTAGE, AND SUPPLIES ASSOCIATED WITH DUTIES OF THE BOARD OF DIRECTOR POSITIONS, THE BOARD HAS IMPLEMENTED A POLICY OF PER DIEM REIMBURSEMENT OF EXPENSES. DIRECTORS ARE REIMBURSED $75 PER MONTH FOR AN ANNUAL TOTAL OF $900 PER DIRECTOR. ALTERNATIVELY, THE DIRECTORS HAVE THE OPTION TO FOREGO THE PER DIEM METHOD AND BE REIMBURSED UNDER THE ACCOUNTABLE REIMBURSEMENT METHOD. FORM 990, PART XI, LINE 9: MORTGAGE MARKET HEDGING VALUATION -160,938. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED THE OVERSIGHT PROCESS SINCE THE PRIOR YEAR.