2018-10-25T14:43:44-05:00 2017-12-31 390758449 WIPFLI LLP PO BOX 8010 WAUSAU WI 544028010 990 2017-01-01 390555293 EDUCATORS CREDIT UNION EDUC 2628865900 1326 WILLOW ROAD MT PLEASANT WI 53177 KURT JOHNSON CFO 2628865900 2018-10-25 1 MARY A COATES CPA P00134220 7158453111 2018-10-25 50.50.56.238 2018-10-25 09:12:19 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 591F57CCDB6768E443135B10ADA072E30A282E8B 2017 2018-06-14 16:35:46Z KURT JOHNSON 1326 WILLOW ROAD MT PLEASANT WI 53177 98757220 0 2157 X WWW.ECU.COM X 1937 WI TO PROVIDE EXCEPTIONAL, PERSONALIZED, AND CONVENIENT PRODUCTS AND SERVICES TO ASSIST OUR MEMBERS/OWNERS IN REACHING THEIR FINANCIAL GOALS. 15 15 568 15 13986 -27873 0 0 79745872 87672197 2555389 3281123 412510 1183440 82713771 92136760 360324 329918 0 0 22934245 25688414 0 0 0 45622176 49206309 68916745 75224641 13797026 16912119 1676971961 1922132917 1482195401 1701342221 194776560 220790696 THE CREDIT UNION OPERATES TO ENCOURAGE THRIFT AMONG ITS MEMBERS, CREATE A SOURCE OF CREDIT AT A REASONABLE RATE OF INTEREST, AND TO PROVIDE AN OPPORTUNITY FOR ITS MEMBERS TO USE AND CONTROL THEIR OWN MONEY IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. 0 0 LENDING - PROVIDE BUSINESS AND CONSUMER LOANS AND LEASES WITH BALANCES OF $1,642,077,998. SAVING - PROVIDE SAVING, CHECKING, CDS, IRAS AND MONEY MARKET ACCOUNT WITH BALANCES OF $1,634,510,153. WE HAVE OVER 159,000 MEMBERS AND FOCUS ON EDUCATING THEM IN OUR BRANCHES AS WELL AS THROUGH COMMUNITY ACTIVITES. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 117216 0 1 568 1 1 1 0 0 0 0 0 0 0 X 15 15 0 0 1 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 1 1 0 X JAMES JUSTMAN 2628865900 1326 WILLOW RAOD MT PLEASANT WI 53177 CLARENCE ALLEN BOARD MEMBER 1.00 X 700 0 0 MILTON DOCKERY BOARD MEMBER 1.00 X 700 0 0 WILLIAM HALSEY BOARD MEMBER 1.00 X 1900 0 0 PAUL PELZEK BOARD MEMBER 1.00 X 1950 0 0 MARY ANN SMITH BOARD MEMBER 1.00 X 2800 0 0 JAMES ARNESON ASSOCIATE BOARD MEMBER 1.00 X 0 0 0 JANET DAYS ASSOCIATE BOARD MEMBER 1.00 X 1300 0 0 ELTON DEMETI ASSOCIATE BOARD MEMBER 1.00 X 1300 0 0 SARAH FIEREK ASSOCIATE BOARD MEMBER 1.00 X 1350 0 0 LOGAN MARTIN ASSOCIATE BOARD MEMBER 1.00 X 1600 0 0 NORMAN PROM ASSOCIATE BOARD MEMBER 1.00 X 0 0 0 MARY LUENEBURG CHAIRPERSON 1.00 X X 4600 0 0 CHERYL KOTHE VICE CHAIRPERSON 1.00 X X 2050 0 0 BRAD ZAUTCKE SECRETARY 1.00 X X 2000 0 0 ROBERT STEPIEN TREASURER 1.00 X X 1700 0 0 LINDA HOOVER CEO & PRESIDENT 40.00 X 390246 0 17111 KURT JOHNSON CFO 40.00 X 225731 0 5676 JAMES HENDERSON CAO 40.00 X 213115 0 25085 JEFFREY LOHMAN AVP - INFORMATION SYSTEMS 40.00 X 128175 0 9735 MICHAEL MIKKELSON CIO 40.00 X 208265 0 13757 PETER STEIN SR VP-HUMAN RESOURCES 40.00 X 176196 0 25777 GLENN BRUSKY BRANCH MANAGER 40.00 X 129836 0 13964 DALE DREHER SECURITY ARCHITECT 40.00 X 122579 0 17199 1618093 0 128304 8 0 1 0 ALKAMI TECHNOLOGY INC PO BOX 670397 PLANO TX 75267 IT SERVICES 1001215 ADAPT TELEPHONY SERVICES 600 ENTERPRISE DRIVE SUITE 204 OAK BROOK IL 60523 PHONE SYSTEM SERVCIES 993760 INFOIMAGE 141 JEFFERSON DRIVE MENLO PARK CA 94025 STATEMENT SERVICES 880064 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 IT SERVICES 862076 CDW DIRECT LLC PO BOX 75723 CHICAGO IL 60675 COMPUTER HARDWARE/SOFTWARE SERVICES 858911 40 INTEREST ON LOANS 522100 59582146 59582146 CREDIT CARD INTERCHANGE INCOME 522100 14660483 14660483 MEMBER SERVICE FEES 522100 11073654 11073654 MEMBER INSURANCE INCOME 522100 1717880 1717880 LOAN FEE INCOME 522100 599903 599903 38131 24145 13986 87672197 3126361 3126361 404715 580130 -175415 -175415 -175415 6195092 6040330 154762 154762 154762 1358855 1358855 1358855 92136760 87658211 13986 4464563 329918 900914 18962024 1939417 2342865 1543194 194560 286937 578490 2135422 4089772 6172464 3249223 353121 942879 331102 3964396 277724 DEBIT AND CREDIT CARD E 7360091 DIVIDENDS PAID 6826063 PROVISION FOR LOAN LOSS 6404449 LOAN AND CLOSING COSTS 2704226 3335390 75224641 23955870 27936105 56815972 59199701 40273 8770840 1330230274 1607896339 0 0 2431664 3121720 76706947 25719076 48666721 50987871 153578934 123359896 39934482 23740720 21317771 17119725 1676971961 1922132917 21141181 26341950 0 75000000 1461054220 1600000271 1482195401 1701342221 X 0 0 0 0 194776560 220790696 194776560 220790696 1676971961 1922132917 X 16912119 -537242 -38600 9677859 X X 0 1 X 1 0 10166591 10166591 49401453 16375949 33025504 347417 313860 33557 16791486 9029267 7762219 50987871 MEMBERS' SHARE AND SAVINGS ACCOUNTS 1600000271 1600000271 1 UNITED WAY RACINE COUNTY 2000 DOMANIK DRIVE RACINE WI 53404 390806349 501(C)(3) 58277 GENERAL SUPPORT JUNIOR ACHIEVEMENT 1111 W LIBERTY DRIVE MILWAUKEE WI 53224 841223492 501(C)(3) 40000 GENERAL SUPPORT ST MONICA'S SENIOR LIVING 3920 NORTH GREEN BAY ROAD RACINE WI 53404 391137868 501(C)(3) 20000 GENERAL SUPPORT BOYS AND GIRLS CLUB OF MILWAUKEE 1558 N 6TH STREET MILWAUKEE WI 53212 390806292 501(C)(3) 15898 GENERAL SUPPORT HALO INC 2000 DEKOVEN AVE RACINE WI 53403 202041432 501(C)(3) 10250 GENERAL SUPPORT RIVER BEND NATURE CENTER 3600 N GREEN BAY RD RACINE WI 53404 455347146 501(C)(3) 5750 GENERAL SUPPORT ESCUELA VERDE 3628 W PIERCE STREET MILWAUKEE WI 53215 391331760 501(C)(3) 5750 GENERAL SUPPORT UNITED WAY OF GREATER MILWAUKEE BOX 88110 MILWAUKEE WI 53288 390806190 501(C)(3) 5250 GENERAL SUPPORT MDA 330 S EXECUTIVE DR SUITE 100A BROOKFIELD WI 53005 131665552 501(C)(3) 5000 GENERAL SUPPORT COMMON GROUND - WASHINGTON HS FUND 1034 E OGDEN AVENUE MILWAUKEE WI 53202 680480736 501(C)(3) 5000 GENERAL SUPPORT STILLWATERS CANCER CENTER 2607 N GRANDVIEW BLVD 108 MILWAUKEE WI 53188 391818956 501(C)(3) 5000 GENERAL SUPPORT 11 0 PART I, LINE 2: BRANCH MANAGERS HAVE THE ABILITY TO APPROVE GRANTS TO A CERTAIN AMOUNT, AFTER THAT AMOUNT, THE GRANTS WOULD HAVE TO BE APPROVED BY THEIR MANAGER. LARGER GRANTS ARE APPROVED BY SENIOR MANAGEMENT AND ARE CONSIDERED COMMUNITY BENEFIT CONTRIBUTIONS. X 1 1 X X X 0 1 0 LINDA HOOVER CEO & PRESIDENT 348917 0 24249 0 17080 0 6625 0 10486 0 407357 0 0 0 KURT JOHNSON CFO 211172 0 14295 0 264 0 5619 0 57 0 231407 0 0 0 JAMES HENDERSON CAO 190002 0 14664 0 8449 0 5342 0 19743 0 238200 0 0 0 MICHAEL MIKKELSON CIO 194435 0 13326 0 504 0 5275 0 8482 0 222022 0 0 0 PETER STEIN SR VP-HUMAN RESOURCES 156952 0 11273 0 7971 0 4563 0 21214 0 201973 0 0 0 PART I, LINE 4B JAMES HENDERSON - $24,000 MICHAEL MIKKELSON - $3,953 FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION MERGED WITH PARKER COMMUNITY CREDIT UNION DURING THE YEAR, THIS EXPANDED THE REACH OF THE CREDIT UNION'S MEMBER BASE TO GREEN, JEFFERSON AND DANE COUNTIES IN WISCONSIN. 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 ARE ELECTED BY THE MEMBERSHIP UTILIZING THEIR ONE VOTE PER MEMBER. FORM 990, PART VI, SECTION A, LINE 7B A MERGER IN WHICH EDUCATORS CREDIT UNION WAS NOT THE SURVIVING CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 8B MINUTES ARE NOT TAKEN FOR SUBCOMMITTEES OF THE BOARD, WITH THE EXCEPTION OF THE ALM COMMITTEE, TECHNOLOGY COMMITTEE AND THE AUDIT COMMITTEE. THE ACTIONS RECOMMENDED BY THE SUBCOMMITTEES ARE PRESENTED TO THE FULL BOARD FOR APPROVAL AND INCLUDED IN THEIR MINUTES. FORM 990, PART VI, SECTION B, LINE 11B INFORMATION IS GATHERED BY THE ACCOUNTING MANAGER AND THE HUMAN RESOURCES MANAGER. THE FORM 990 IS REVIEWED BY THE CFO AND THE AUDIT MANAGER. A COPY OF THE 990 IS PROVIDED TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES ARE REQUIRED ANNUALLY TO SIGN THE OATH OF OFFICE AND REPORT ANY CONFLICTS OF INTEREST. THE ORGANIZATION ENCOURAGES EMPLOYEES TO DISCUSS POTENTIAL CONFLICTS WITH THEIR MANAGER, HUMAN RESOURCES, INTERNAL AUDIT, OR BY REPORTING TO OUR ANONYMOUS FRAUD LINE. ALL REPORTS ARE INVESTIGATED AND ADDRESSED AS NECESSARY. EMPLOYEE AND BOARD MEMBER ACCOUNTS ARE PERIODICALLY REVIEWED FOR ANY IRREGULARITIES THAT WOULD POINT TO A VIOLATION OF THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION OBTAINS ANNUAL SALARY DATA FROM A 3RD PARTY VENDOR. THE BUDGETING PROCESS AND BOARD APPROVE PERCENTAGE INCREASE FOR OVERALL SALARY INCREASES. ANNUAL INCREASES ARE GIVEN BASED ON SALARY RANGE, POSITION IN RANGE, PERFOMANCE, LENGTH OF EMPLOYMENT, TIME IN POSITION, AND THE BOARD APPROVED AVERAGE PERCENTAGE INCREASE. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUESTS. FORM 990, PART XI, LINE 9: EQUITY ACQUIRED IN MERGER 9,677,859. FORM 990, PART XII, LINE 2C: THE BOARD IS IN CHARGE OF OVERSIGHT OF THE AUDIT PROCESS. THERE HAS BEEN NO CHANGE IN THE OVERSIGHT PROCESS FROM THE PRIOR YEAR. CENTER STREET REAL ESTATE LLC 1400 N NEWMAN ROAD RACINE WI 53406 REAL ESTATE WI 0 0 N/A IVANHOE PLACE REAL ESTATE LLC 1400 N NEWMAN ROAD RACINE WI 53406 REAL ESTATE WI 0 0 N/A HOWARD AVENUE REAL ESTATE LLC 1400 N NEWMAN ROAD RACINE WI 53406 REAL ESTATE WI 0 0 N/A MOUNT PLEASANT REAL ESTATE LLC 1400 N NEWMAN ROAD RACINE WI 53406 REAL ESTATE WI 0 0 N/A KITCHEN TABLE REAL ESTATE 1400 N NEWMAN ROAD RACINE WI 53406 REAL ESTATE WI 0 0 N/A WEST BEND REAL ESTATE 1400 N NEWMAN ROAD RACINE WI 53406 REAL ESTATE WI 0 0 N/A PLEASANT PRAIRIE LLC 1400 N NEWMAN ROAD RACINE WI 53406 REAL ESTATE WI 0 0 N/A ECU FINANCIAL SERVICES INC 1400 NORTH NEWMAN ROAD RACINE WI 53406 391941702 FINANCIAL SERVICES WI EDUCATORS CREDIT UNION C 339320 34323770 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0