2018-01-10T08:39:08-06:00 2016-12-31 410746749 CLIFTONLARSONALLEN LLP PO BOX 217 AUSTIN MN 55912 990 2016-01-01 390263945 CONNEXUS CREDIT UNION CONN 7158474700 2600 PINE RIDGE BLVD WAUSAU WI 54401 J DAVID CHRISTENSON CEO/PRESIDENT 7158474700 2017-12-19 1 TANYA MEDGAARDEN P01717240 5074347000 2017-12-06 67.137.57.251 2017-12-19 09:28:42 CS 413129201731903e0e86 2017-11-15 P F79A0C8ED54C230A76D80D5FC26A9A498163BE26 DCFA9B43EC93A59851BBAB58DFEBDB3C8F781168 2016 2021-01-29 14:40:06Z X J DAVID CHRISTENSON 2600 PINE RIDGE BLVD WAUSAU WI 54401 71422785 0 X CONNEXUSCU.ORG X CU 1935 WI ENCOURAGE THRIFT AND SELF RELIANCE AMONG MEMBERS BY CREATING A SOURCE OF CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST IN ORDER TO IMPROVE SOCIAL CONDITIONS OF THE MEMBERSHIP. 10 10 225 0 2074244 -1411020 0 0 51239571 64919835 2886197 3137684 0 0 54125768 68057519 0 0 8202411 11635075 16527864 19311633 0 0 0 20249534 19416536 44979809 50363244 9145959 17694275 1319488029 1493922019 1181256886 1338068614 138231143 155853405 TO HELP OUR MEMBERS ACHIEVE THEIR PERSONAL FINANCIAL OBJECTIVES BY ANTICIPATING THEIR NEEDS AND EXCEEDING EXPECTATIONS WITH SUPERIOR SERVICE AND PRODUCTS. 0 0 PROVIDE OUR MEMBERS DEPOSIT SERVICES FOR THEIR FUNDS TO EARN THEM A FAIR RATE OF RETURN PROVIDE OUR MEMBERS LOAN SERVICES AT A FAIR RATE OF INTEREST PROVIDE OUR MEMBERS ACCESS TO CHECK SERVICES AND OTHER FINANCIAL PRODUCTS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 18200 0 1 225 1 1 1 0 0 0 0 0 X 10 10 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X X JANE KITTEL 7158702650 2600 PINE RIDGE BLVD WAUSAU WI 54401 STEVEN ZEINEMAN DIRECTOR 1.00 X 3257 0 0 RON DINS CHAIRPERSON 1.00 X 12079 0 0 MARK STEINBERG VICE CHAIRPERSON 1.00 X 8297 0 0 KIMBERLY SMITH SECRETARY 1.00 X 6693 0 0 GARY KLINGBEIL DIRECTOR 1.00 X 3000 0 0 LYLE BECK DIRECTOR 1.00 X 3325 0 0 TODD MCDONALD TREASURER 1.00 X 5753 0 0 TOM SEUNTJENS DIRECTOR 1.00 X 3468 0 0 STEVE DEREBEY DIRECTOR 1.00 X 3944 0 0 JANE KITTEL CFO 50.00 X 126244 0 12334 J DAVID CHRISTENSON CEO/PRESIDENT 55.00 X 529706 0 51971 BOYD GUSTSKE COO 50.00 X 280339 0 50347 DARYL GESSLER CHIEF RISK OFFICER 50.00 X 285031 0 32229 MARY BURGOYNE CIO 50.00 X 258183 0 41185 CHAD ROGERS CMO 50.00 X 251469 0 50108 LINDA C KEIL CHIEF HR OFFICER 50.00 X 217687 0 45799 JEANNE WALKLEY CFO - PART YEAR 50.00 X 320113 0 21142 MARITA HATTEM EXPERIENCE OFFICER 50.00 X 249410 0 21193 ERIC HUSEBY SR VP LENDING 45.00 X 180799 0 16912 BEVERLY NOWACKI SR VP OPERATION 45.00 X 151425 0 30171 GERALD E BRIGGS VP OF IT 45.00 X 182157 0 32140 THOMAS S HAFEMANN VP OF IT 45.00 X 164343 0 24668 MICHELE TIMPE MANAGER 45.00 X 144761 0 8137 DOUGLAS YOUNG FORMER CEO/PRESIDENT 50.00 X 421128 0 2878 3812611 0 441214 15 1 1 0 BLUE CROSS BLUE SHIELD 3535 BLUE CROSS RD ST PAUL MN 55164 HW/SW MAINTENANCE 1812549 ALKAM TECHNOLOGY INC PO BOX 670397 DALLAS TX 75267 ONLINE BANKING 1334888 FISERV PO BOX 300016 DULUTH GA 30096 NETWORK SERVICES 1128489 XPRESS DATA 10983 VIA FRONTIERA SAN DIEGO CA 90051 MOBILE/INTERNET BANKING 453926 WESTPHAL STAFFING 505 S 24TH AVE SUITE 104 WAUSAU WI 54401 TEMP SERVICES 442231 7 INTEREST INCOME ON LOANS 522100 52973351 52973351 OTHER INCOME 522100 8839565 8839565 FEE INCOME 522100 3106919 1032675 2074244 64919835 2565450 2565450 3937500 3365266 572234 572234 572234 68057519 62845591 2074244 3137684 11635075 2749614 11661195 904107 2326573 1670144 179710 117072 2703330 426848 972769 10306 554320 507885 751327 3880600 OTHER EXPENSES 3600834 PROVISION FOR LOAN LOSS 3152542 LOAN SERVICING 2374805 OPERATING FEES 184188 50363244 59631219 45564240 119289474 71312095 13233991 13562533 1037472091 1275075061 632788 492757 14939159 8096996 11426426 6842163 24799394 11207077 4303670 3519736 7809790 6724389 40889186 59621968 1319488029 1493922019 15138136 13950983 43718588 46455347 1122400162 1277662284 1181256886 1338068614 X 0 0 0 0 138231143 155853405 138231143 155853405 1319488029 1493922019 17694275 -72013 0 X X 0 1 X 1 0 1691683 1691683 5498937 2426847 3072090 361493 47287 314206 7387046 5622862 1764184 6842163 REGULAR SHARE ACCOUNTS 298613863 MONEY MARKET ACCOUNTS 245122297 SHARE DRAFT ACCOUNTS 197995261 IRA SHARE ACCOUNTS 59528191 SHARE AND IRA CERTIFICATES 476402672 1277662284 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER IRC 501 (C) (14), FROM FEDERAL AND STATE INCOME TAXES. CERTAIN PRODUCTS AND SERVICES PROVIDED BY SELECT STATE CHARTERED CREDIT UNIONS HAVE BEEN DEEMED BY THE INTERNAL REVENUE SERVICE (IRS), IN TECHNICAL ADVICE MEMORANDUMS (TAMS) RELEASED IN 2007, TO BE UNRELATED TO THE SPECIFIC ENTITY'S EXEMPT PURPOSE. AS PRESENTED IN THE TECHNICAL ADVICE MEMORANDUMS, THE NET TAXABLE INCOME FROM THESE PRODUCTS AND SERVICES WOULD BE SUBJECT TO INCOME TAXES. CREDIT UNIONS HAVE LITIGATED AGAINST THE IRS POSITIONS NOTED IN THE TAMS AND HAVE BEEN SUCCESSFUL IN HAVING COURTS DECLARE IN 2009 AND 2010 THAT REVENUE FROM INSURANCE PRODUCTS SOLD TO MEMBERS, HELPING THEM PROTECT THEIR FINANCIAL WELLBEING, QUALIFIES AS EXEMPT PURPOSE INCOME, CONTRARY TO THE IRS POSITION IN THE TAMS. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE AND HAS A NET OPERATING LOSS CARRYFORWARD. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S CONSOLIDATED FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2016 AND 2015. THE CREDIT UNION'S 2013 THROUGH 2015 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. THE INCOME FROM THE CUSO, ORGANIZED AS AN LLC, FLOWS THROUGH TO THE CREDIT UNION. X X 1 0 X X X X 1 1 0 J DAVID CHRISTENSON CEO/PRESIDENT 430482 0 96688 0 2536 0 26500 0 25471 0 581677 0 0 0 BOYD GUSTSKE COO 231375 0 47250 0 1714 0 25376 0 24971 0 330686 0 0 0 DARYL GESSLER CHIEF RISK OFFICER 236067 0 47250 0 1714 0 25268 0 6961 0 317260 0 0 0 MARY BURGOYNE CIO 212537 0 43260 0 2386 0 25501 0 15684 0 299368 0 0 0 CHAD ROGERS CMO 207271 0 43050 0 1148 0 25137 0 24971 0 301577 0 0 0 LINDA C KEIL CHIEF HR OFFICER 175232 0 36750 0 5705 0 20328 0 25471 0 263486 0 0 0 JEANNE WALKLEY CFO - PART YEAR 43017 0 103188 0 173908 0 14723 0 6419 0 341255 0 0 0 MARITA HATTEM EXPERIENCE OFFICER 206007 0 42000 0 1403 0 6849 0 14344 0 270603 0 0 0 ERIC HUSEBY SR VP LENDING 154867 0 25080 0 852 0 16640 0 272 0 197711 0 0 0 BEVERLY NOWACKI SR VP OPERATION 125751 0 24247 0 1427 0 14553 0 15618 0 181596 0 0 0 GERALD E BRIGGS VP OF IT 153711 0 27720 0 726 0 32140 0 0 0 214297 0 0 0 THOMAS S HAFEMANN VP OF IT 141230 0 14300 0 8813 0 15476 0 9192 0 189011 0 0 0 MICHELE TIMPE MANAGER 67905 0 0 0 76856 0 1231 0 6906 0 152898 0 0 0 DOUGLAS YOUNG FORMER CEO/PRESIDENT 0 0 421128 0 0 0 0 0 2878 0 424006 0 0 0 PART I, LINE 1A J DAVID CHRISTENSON - TRAVEL FOR COMPANION PART I, LINES 4A-B DOUGLAS YOUNG - SEVERANCE PAYMENT - $421,128 JEANNE WALKLEY - SEVERANCE PAYMENT - $156,008 J DAVID CHRISTENSON - NONQUALIFIED PLAN - PARTICIPATED, NO DISTRIBUTIONS BOYD GUSTKE - NONQUALIFIED PLAN - PARTICIPATED, NO DISTRIBUTIONS DARYL GESSLER - NON-QUALIFIED PLAN - PARTICIPATED, NO DISTRIBUTIONS MARY BURGOYNE - NON-QUALIFIED PLAN - PARTICIPATED, NO DISTRIBUTIONS DOUGLAS YOUNG FORMER CEO/PRESIDENT SPLIT DOLLAR X 5080241 5605882 0 1 1 J DAVID CHRISTENSON CEO/PRESIDENT SPLIT DOLLAR X 6300000 6554301 0 1 1 BOYD GUSTKE COO SPLIT DOLLAR X 1350000 1402350 0 1 1 13562533 FORM 990, PART VI, SECTION A, LINE 6 CONNEXUS CREDIT UNION IS OWNED AND OPERATED BY ITS MEMBERS. A MEMBER MUST MEET FIELD OF MEMBERSHIP RESTRICTIONS AND DEPOSIT AT LEAST FIVE DOLLARS IN THEIR SHARE ACCOUNT. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS ARE ELECTED BY THE MEMBERSHIP AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS WOULD NEED TO APPROVE CERTAIN DECISIONS SUCH AS NAME CHANGE OR MERGER. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND THEN REVIEWED INTERNALLY PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C NOTICES ARE SENT TO ALL EMPLOYEES AND DIRECTORS REQUESTING INFORMATION ON ALL POSSIBLE CONFLICTS OF INTEREST THAT MAY EXIST. IN ADDITION, EACH EMPLOYEE MUST REVIEW A PRESENTATION ON CONFLICTS OF INTEREST SO THEY UNDERSTAND THE ISSUE. FORM 990, PART VI, SECTION B, LINE 15 CONNEXUS OBTAINS A SALARY SURVEY BASED ON JOB DUTIES AND GEOGRAPHIC LOCATION, BROKEN DOWN BY ASSET SIZE AND EMPLOYEE COUNTS, ALONG WITH INDUSTRY SPECIFIC SALARY STUDIES. CONNEXUS MESHES ALL OF THIS INFORMATION WITH JOB PERFORMANCE AND GOAL ACHIEVEMENT TO OBTAIN A POTENTIAL SALARY INCREASE RANGE FOR THAT POSITION GRADE LEVEL. THIS INFORMATION IS REVIEWED BY THE PERSONNEL COMMITTEE AND THE COMPENSATION DEPARTMENT FOR APPROVAL. ANY SALARY CHANGES THAT EXCEED ESTABLISHED RANGES FOR A PARTICULAR GRADE LEVEL NEED FURTHER APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE LOBBIES OF THE ORGANIZATION AND PROVIDED IN THE ANNUAL REPORTS AND ANNUAL MEETING. FINANCIAL INFORMATION IS ALSO PROVIDED TO OUR FEDERAL REGULATOR, NCUA, WHO POSTS THIS INFORMATION ON THE NCUA WEBSITE FOR PUBLIC VIEWING. OTHER DOCUMENTS SUCH AS HMDA, CONFLICT OF INTEREST, AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST, SOME OF WHICH ARE MAINTAINED BY THE WISCONSIN OFFICE OF CREDIT UNIONS. FORM 990, PART XII, LINE 2C: PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PAGE 1 - AMENDED RETURN AMENDING THE 2016 CONNEXUS CREDIT UNION 990 TAX RETURN TO UPDATE AND CHANGE THE FOLLOWING ITEMS WHICH WERE INADVERTINELY MISSED ON THE ORIGINAL 990 FILING: - PAGE 5: LINE 2B - PAGE 8: ADDITION OF DOUGLAS YOUNG AND HIS REPORTABLE COMPENSATION AND BENEFITS - SCHEDULE L: PART II, COLUMN H - SCHEDULE R: PART I, COLUMNS D & E - SCHEDULE J: PART I, LINES 1A & 3 - SCHEDULE J: PART III, ADDITION OF JEANNE WALKLEY'S SEVERANCE PAYMENT FINANCIAL INSTITUTION LENDING OPTIONS LLC 550 BAY VIEW ROAD SUITE A MUKWONAGO WI 53149 870771221 LOAN ORIGINATOR WI 1991707 6415682 THE CREDIT UNION