2018-11-13T16:50:34-06:00 2017-12-31 410746749 CLIFTONLARSONALLEN LLP PO BOX 217 AUSTIN MN 55912 990 2017-01-01 396072970 ROYAL CREDIT UNION ROYA 7158338111 200 RIVERFRONT TERRACE EAU CLAIRE WI 54703 JON HEHLI CHIEF FINANCIAL OFFICER 7158338111 2018-11-02 1 MARTY LIENAU P00001025 5074347000 67.137.57.251 2018-11-02 10:25:12 CD P EEEA1E556E982604280D7ED484BC075E8DEB7A72 7F79EBEF70B52A6617C4AF05089A677303FDB297 2017 2019-02-21 02:37:17Z JON HEHLI 200 RIVERFRONT TERRACE EAU CLAIRE WI 54703 117209804 0 X WWW.RCU.ORG X 1964 WI TO CREATE A POSITIVE IMPACT IN THE LIVES WE TOUCH. 7 7 680 630 175661 -52659 0 0 96528961 111462612 2941941 4331754 0 0 99470902 115794366 1426615 589290 10598083 14039418 34544049 38871235 0 0 0 32950833 36677470 79519580 90177413 19951322 25616953 2025441909 2211060527 1813851175 1973852838 211590734 237207689 TO CREATE A POSITIVE IMPACT IN THE LIVES WE TOUCH. 0 0 WE FUNDED 39,593 LOANS DURING 2017. AS OF 12/31/17, WE HAD 23,851 MORTGAGES/HOME EQUITY, 103,010 CONSUMER LOANS AND 2,601 MEMBER BUSINESS LOANS. WE ALSO HAD 52,204 CREDIT CARD ACCOUNTS WITH OUR MEMBERS AT 12/31/17. WE HAVE DEPOSIT, TRANSACTION, AND INVESTMENT ACCOUNTS WITH 194,398 MEMBERS AT 12/31/17. DURING 2017, WE OPENED 48,879 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 51942 0 1 680 1 1 1 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 30000 0 0 JENNIFER MCDONOUGH SECRETARY 10.00 X X 18075 0 0 JOHN SACKETT TREASURER 10.00 X X 23700 0 0 NANCY BELTZ DIRECTOR 10.00 X 13925 0 0 STUART SCHAEFER DIRECTOR 10.00 X 12925 0 0 THOMAS HUFFCUTT VICE CHAIRMAN 10.00 X X 14900 0 0 WILLIAM BLACKBURN DIRECTOR 10.00 X X 14900 0 0 AMY FORCIER-PABST EVP-MEMBER EXPERIENCE 40.00 X 211503 0 27243 BRANDON RIECHERS CEO/PRESIDENT 40.00 X 405279 0 18491 JAN JOHNSON EVP-ORGANIZATIONAL AGILITY 40.00 X 306556 0 15614 JON HEHLI EVP-CFO 40.00 X 356387 0 27333 PETER NOHELTY EVP-CHIEF TECHNOLOGY OFFIC 40.00 X 267135 0 31782 RANDY BECK CEO/PRESIDENT 40.00 X 395959 0 18436 RODOLFO PEREIRA CEO/PRESIDENT 40.00 X 457381 0 24402 DAVID THOE VP-BUSINESS LENDING MANAGE 40.00 X 217575 0 27987 JARED JOHNSON MORTGAGE LOAN OFFICER 40.00 X 246952 0 12592 JEFFREY SPROUL MORTGAGE LOAN OFFICER 40.00 X 232064 0 8931 MARK ERICKSON MORTGAGE LOAN OFFICER 40.00 X 233718 0 14301 VICKI HOEHN VP-COMMUNITY ENGAGEMENT 40.00 X 318690 0 26580 3777624 0 253692 58 0 1 0 GREENDOOR GRAPHICS & ADVERTISING 2726 MONDOVI ROAD EAU CLAIRE WI 54701 PROFESSIONAL DESIGN SERVICES/MEDIA BUYIN 811452 WELD RILEY S C 3624 OAKWOOD HILLS PARKWAY PO BOX EAU CLAIRE WI 547021030 LEGAL 291668 THILLENS INC 4242 N ELSTON AVENUE CHICAGO IL 60618 CORPORATE COURIER 268204 SERVICE SOLUTIONS INC 161 BUSINESS PARK CIRCLE STOUGHTON WI 53589 ATM MAINTENANCE 255218 RUDERWARE LLSC PO BOX 8050 WAUSAU WI 54402 LEGAL 173571 13 LOAN INTEREST 522100 74787259 74787259 OTHER OPERATING INCOME 522100 23303362 23303362 SERVICE CHARGES & FEE INCOME 522100 13371991 13196330 175661 111462612 4664405 4664405 1082787 1415438 -332651 -332651 -332651 115794366 111286951 175661 4331754 589290 14039418 2691926 27166893 1403921 5276533 2331962 510223 1657724 12446517 3020495 386134 383866 2802953 LOAN SERVICING 7419919 MISCELLANEOUS OPERATING 4248642 PROVISION FOR LOAN LOSS 3618707 OPERATING FEES 182290 90177413 161996406 101435946 18164621 14427265 22223329 29003506 1681833954 1900408118 7659261 3229769 81936377 44286891 40434582 37649486 7006506 31829063 22786777 29152419 12698391 12236450 50638082 51688505 2025441909 2211060527 46869536 46302451 20028 1766961611 1927550387 1813851175 1973852838 X 0 0 0 0 211590734 237207689 211590734 237207689 2025441909 2211060527 X 25616953 2 X X 0 1 X 1 1 1 6935464 6935464 41961177 15289601 26671576 1044599 911204 133395 31381151 27635724 3745427 613986 450362 163624 37649486 MEMBERS' SHARES 1927550387 1927550387 X 113152096 0 113152096 2642270 2642270 115794366 87535142 0 87535142 2642271 2642271 90177413 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: GAIN/LOSS ON SALE OF ASSETS REPORTED IN REVENUE SECTION 409,582. INCOME FROM INVESTMENTS 2,232,688. PART XII, LINE 4B - OTHER ADJUSTMENTS: NONINTEREST EXPENSE 2,642,270. ROUNDING 1. 1 ROYAL CREDIT UNION FOUNDATION 200 RIVERFRONT TERRACE EAU CLAIRE WI 54703 461588898 501(C)(3) 466434 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) 18000 ANNUAL SUPPORT/GIFT UW-EAU CLAIRE FOUNDATION INC 105 GARFIELD AVE EAU CLAIRE WI 54701 390972350 501(C)(3) 7500 LOCAL BLUGOLD SCHOLARSHIP CHIPPEWA VALLEY FREE CLINIC 836 RICHARD DR EAU CLAIRE WI 54701 391840231 501(C)(3) 10000 BUSINESS SPONSORSHIP THE NATIONAL CREDIT UNION FOUNDATION 5710 MINERAL POINT RD MADISON WI 53705 391383650 501(C)(3) 5000 CORPORATE SPONSORSHIP ST CROIX VALLEY FOUNDATION 516 SECOND STREET STE 214 HUDSON WI 54016 411817315 501(C)(3) 5000 HUDSON FITNESS PARK GOODWILL NCW-MIRACLE LEAGUE 1800 APPLETON RD MENASHA WI 54952 391144913 501(C)(3) 5000 FIELD SPONSORSHIP 7 1 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 0 1 0 AMY FORCIER-PABST EVP-MEMBER EXPERIENCE 160862 0 47471 0 3170 0 9062 0 18181 0 238746 0 0 0 BRANDON RIECHERS CEO/PRESIDENT 331050 0 73929 0 300 0 17627 0 864 0 423770 0 0 0 JAN JOHNSON EVP-ORGANIZATIONAL AGILITY 230161 0 73649 0 2746 0 8211 0 7403 0 322170 0 0 0 JON HEHLI EVP-CFO 262086 0 84183 0 10118 0 13500 0 13833 0 383720 0 0 0 PETER NOHELTY EVP-CHIEF TECHNOLOGY OFFIC 201258 0 63325 0 2552 0 13500 0 18282 0 298917 0 0 0 RANDY BECK CEO/PRESIDENT 270072 0 62279 0 63608 0 7987 0 10449 0 414395 0 0 0 RODOLFO PEREIRA CEO/PRESIDENT 169290 0 199768 0 88323 0 18000 0 6402 0 481783 0 0 0 DAVID THOE VP-BUSINESS LENDING MANAGE 167191 0 47494 0 2890 0 9712 0 18275 0 245562 0 0 0 JARED JOHNSON MORTGAGE LOAN OFFICER 201137 0 44714 0 1101 0 11756 0 836 0 259544 0 0 0 JEFFREY SPROUL MORTGAGE LOAN OFFICER 191203 0 39121 0 1740 0 8074 0 857 0 240995 0 0 0 MARK ERICKSON MORTGAGE LOAN OFFICER 193493 0 39755 0 470 0 7333 0 6968 0 248019 0 0 0 VICKI HOEHN VP-COMMUNITY ENGAGEMENT 148924 0 36763 0 133003 0 9138 0 17442 0 345270 0 0 0 PART I, LINE 4B BRANDON RIECHERS - PARTICIPATED IN 457-F PLAN, NO DISTRIBUTIONS, DEFERRED $4,127 VICKI HOEHN - PARTICIPATED IN 457-F PLAN, DISTRIBUTION OF $130,000, NO DEFERRRALS 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 UTILIZED VARIOUS MARKET SALARY SURVEYS AND AN OUTSIDE COMPENSATION CONSULTANT TO ASSIST THE TALENT SERVICES TEAM IN DETERMINING MARKET APPROPRIATE SALARY GRADES AND THE PLACEMENT OF POSITIONS INTO THEM. THE TALENT SERVICES TEAM THEN REVIEWED AND DETERMINED INDIVIDUAL COMPENSATION FOR TOP MANAGEMENT AND KEY EMPLOYEES WITHIN THOSE SALARY GRADES/RANGES IN ALIGNMENT TO OUR COMPENSATION PHILOSOPHY. THIS PROCESS WAS MOST RECENTLY COMPLETED IN 2016. FORM 990, PART VI, SECTION C, LINE 19 ROYAL CREDIT UNION'S MONTHLY 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 2. 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 466434 FAIR MARKET VALUE