COVANTAGE CREDIT UNION: Form 990, tax year 2016
View the entire original 990 at ProPublica ↗
- Organization
- COVANTAGE CREDIT UNION (EIN 39-0945701)
- Tax period
- 2016-01-01 to 2016-12-31
- Filed
- 2017-11-07
- IRS object ID
- 201713119349301456
- Schema version
- 2016v3.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2017-11-07T11:04:21-06:00 | ReturnTs |
| Tax Period End | 2016-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 390758449 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Wipfli LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 8010 | AddressLine1Txt |
| City | Wausau | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 544028010 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2016-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 390945701 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CoVantage Credit Union | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | COVA | BusinessNameControlTxt |
| Phone | 7156274336 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 723 6th Avenue PO Box 107 | AddressLine1Txt |
| City | Antigo | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 544090107 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DOUG ANDERSON | PersonNm |
| Person Title | Cheif Financial Officer | PersonTitleTxt |
| Phone | 7156274336 | PhoneNum |
| Signature | 2017-11-06 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Mary A Coates CPA | PreparerPersonNm |
| PTIN | P00134220 | PTIN |
| Phone | 7158453111 | PhoneNum |
| Preparation | 2017-11-06 | PreparationDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 50.50.56.238 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2017-11-06 | IPDt |
| IP Tm | 11:07:17 | IPTm |
| IP Timezone | CS | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | 41ABCD53C4B0AAEE285E84ABDCCA064939346133 | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2016 | TaxYr |
| Build TS | 2018-03-14 21:41:22Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | Douglas Anderson | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 723 6th Avenue PO Box 107 | AddressLine1Txt |
| City | Antigo | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 544090107 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $162,454,353 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Group Exemption | 2157 | GroupExemptionNum |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.COVANTAGECU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1953 | FormationYr |
| Legal Domicile State | WI | LegalDomicileStateCd |
| Activity Or Mission | A COOPERATIVE, NONPROFIT CORPORATION, INCORPORATED UNDER WISCONSIN STATE LAW TO ENCOURAGE THRIFT AMONG ITS MEMBERS, CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE COST, AND PROVIDE OPPORTUNITY FOR ITS MEMBERS TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 403 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $56,683 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $49,529,667 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $55,472,547 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,694,646 | PYInvestmentIncomeAmt |
| CY Investment Income | $2,894,353 | CYInvestmentIncomeAmt |
| PY Other Revenue | $164,020 | PYOtherRevenueAmt |
| CY Other Revenue | $189,803 | CYOtherRevenueAmt |
| PY Total Revenue | $51,388,333 | PYTotalRevenueAmt |
| CY Total Revenue | $58,556,703 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $149,483 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $351,209 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $16,739,355 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $18,276,927 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $19,984,167 | PYOtherExpensesAmt |
| CY Other Expenses | $24,646,318 | CYOtherExpensesAmt |
| PY Total Expenses | $36,873,005 | PYTotalExpensesAmt |
| CY Total Expenses | $43,274,454 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $14,515,328 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $15,282,249 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,238,473,925 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,366,110,547 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,097,750,805 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,210,747,327 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $140,723,120 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $155,363,220 | NetAssetsOrFundBalancesEOYAmt |
| Mission | A COOPERATIVE, NONPROFIT CORPORATION, INCORPORATED UNDER WISCONSIN STATE LAW TO ENCOURAGE THRIFT AMONG ITS MEMBERS, CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE COST, AND PROVIDE OPPORTUNITY FOR ITS MEMBERS TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | COVANTAGE HAS 92,824 MEMBERS, AND FOR THOSE LOOKING TO SAVE, COVANTAGE STRIVES TO PAY DIVIDEND RATES THAT ARE ABOVE MARKET RATES, EVEN IN THESE FLAT ECONOMIC RATE ENVIRONMENT. AS OF DECEMBER 31, 2016, COVANTAGE WAS PAYING AN ANNUAL PERCENTAGE RATE OF 0.40% ON REGULAR SHARE ACCOUNTS WHEN MANY OTHER FINANCIALS CONTINUED TO SIGNIFICANTLY DROP THEIR RATES AS THE ECONOMIC CONDITIONS CONTINUED TO DETERIORATE. OUR MINIMUM BALANCE OF ONLY $10 CONTINUED TO BE MAINTAINED, WHICH HELPED MANY MEMBERS IN TIMES OF HARDSHIP. MEMBERS WERE NOT ONLY ABLE TO RECEIVE THE BENEFIT OF HIGHER THAN AVERAGE RATES DURING POOR ECONOMIC CONDITIONS, BUT COVANTAGE STILL REWARDED MEMBERS WITH AN ADDITIONAL $2,552,452 IN PATRONAGE PAYMENTS IN 2016. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | COVANTAGE CONTINUES TO OFFER COST-FRIENDLY PRODUCTS TO OUR MEMBERS. WE NOT ONLY DO THIS THROUGH OUR COMPETITIVE RATES, BUT ALSO BY GOING ABOVE AND BEYOND TO HELP THOSE IN NEED. WE CONTINUE TO OFFER COST-FRIENDLY OPTIONS TO PAYDAY LENDERS SUCH AS KWIK CASH OVERDRAFT PROTECTION LOANS WITH NO SERVICE CHARGE OR TRANSFER FEE, COURTESY PAY CHECKING ACCOUNT SERVICES ALSO WITHOUT HEFTY FEES, IN ADDITION TO REWARD CREDIT CARDS WITH VERY COMPETITIVE INTEREST RATES. OTHER LOW-COST OPTIONS INCLUDE OUR OWN PAYDAY ADVANCE LOANS IN ADDITION TO SHARE-SECURED CREDIT CARDS AND OTHER CREDIT BUILDER LOANS FOR THOSE MEMBERS THAT NEED TO REBUILD CREDIT. FOR THOSE LOOKING FOR HOME OWNERSHIP, COVANTAGE ALSO OFFERS ITS COVANTAGE CREATES HOMES MORTGAGE PROGRAM TO HELP THOSE THAT MIGHT NEED ASSISTANCE WITH A DOWN PAYMENT OR NEEDED HOME REPAIRS. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | COVANTAGE ALSO STRIVES TO SUPPORT FINANCIAL LITERACY, INCLUDING PROVIDING ACCEL CREDIT COUNSELING AS A FREE SERVICE TO OUR MEMBERS TO ASSIST WITH BUDGETING, UNDERSTANDING CREDIT REPORTS, MONEY MANAGEMENT, AND DEBT REPAYMENT. THIS FREE SERVICE SAVES MEMBERS $25-$50 PER MONTH THAT IS COMMONLY CHARGED BY OTHER CREDIT COUNSELING AGENCIES. IN ADDITION, COVANTAGE OFFERS COMMUNITY EDUCATION EVENTS AND PROMOTES FINANCIAL LITERACY TO STUDENTS THROUGH KIDZ CREDIT UNIONS OPERATED THROUGH LOCAL MIDDLE SCHOOLS. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 39418 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 403 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | 0 | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | 0 | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CHARLIE ZANAYED PRESIDENTCEO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 7156274336 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 723 SIXTH AVE | AddressLine1Txt |
| City | ANTIGO | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 54409 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (24 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| CHARLES DALLAS | ||||||||
| DIRECTOR | 2.00 | 0.00 | Yes (X) | $3,250 | $0 | $0 | ||
| BOB LAMOVEC | ||||||||
| DIRECTOR | 2.00 | 0.00 | Yes (X) | $2,750 | $0 | $0 | ||
| ROBERT MACINTOSH | ||||||||
| DIRECTOR | 2.00 | 0.00 | Yes (X) | $3,250 | $0 | $0 | ||
| Dwight Nelson | ||||||||
| DIRECTOR (Thru February) | 2.00 | 0.00 | Yes (X) | $500 | $0 | $0 | ||
| PAUL PAYANT | ||||||||
| DIRECTOR | 2.00 | 0.00 | Yes (X) | $3,250 | $0 | $0 | ||
| SUSAN THORSHEIM | ||||||||
| DIRECTOR | 2.00 | 0.00 | Yes (X) | $3,250 | $0 | $0 | ||
| janeLLE MARKGRAF | ||||||||
| creDIT COMMITTEE | 2.00 | 0.00 | Yes (X) | $3,250 | $0 | $0 | ||
| MATT KOLLING | ||||||||
| CHAIRPERSON | 3.00 | 0.00 | Yes (X) | $3,250 | $0 | $0 | Yes (X) | |
| LEE SILER | ||||||||
| VICE-CHAIRPERSON | 2.00 | 0.00 | Yes (X) | $3,250 | $0 | $0 | Yes (X) | |
| KAREN NOVAK | ||||||||
| TREASURER | 2.00 | 0.00 | Yes (X) | $3,250 | $0 | $0 | Yes (X) | |
| EUGENE SHAWANO | ||||||||
| SECRETARY | 2.00 | 0.00 | Yes (X) | $3,250 | $0 | $0 | Yes (X) | |
| BRIAN PRUNTY | ||||||||
| CEO | 40.00 | 0.00 | $499,770 | $0 | $40,918 | Yes (X) | ||
| CHARLES ZANAYED | ||||||||
| President | 40.00 | 1.00 | $251,837 | $0 | $39,037 | Yes (X) | ||
| DOUGLAS ANDERSON | ||||||||
| CHIEF FINANCIAL OFFICER | 40.00 | 3.00 | $203,947 | $0 | $30,719 | Yes (X) | ||
| ROBERT VAN ABEL | ||||||||
| CHIEF INFORMATION OFFICER | 40.00 | 0.00 | $183,754 | $0 | $30,159 | Yes (X) | ||
| STEVE WILDER | ||||||||
| CHIEF COMMERCIAL OFFICER | 40.00 | 0.00 | $189,401 | $0 | $22,397 | Yes (X) | ||
| SHERRY AULIK | ||||||||
| SVP ADMINISTRATIVE OFFICER | 40.00 | 3.00 | $183,556 | $0 | $33,493 | Yes (X) | ||
| STACY BOUCHE | ||||||||
| CHIEF MORTGAGE LENDING OFF | 40.00 | 0.00 | $124,964 | $0 | $28,611 | Yes (X) | ||
| Brett Lee | ||||||||
| Chief Retail Officer | 40.00 | 0.00 | $59,640 | $0 | $6,900 | Yes (X) | ||
| Brian Millar | ||||||||
| VP Member Solutions | 40.00 | 0.00 | $122,848 | $0 | $22,118 | Yes (X) | ||
| BRYAN ERMELING | ||||||||
| VP SOUTHERN REGION | 40.00 | 0.00 | $109,228 | $0 | $23,094 | Yes (X) | ||
| RHONDA NORRBOM | ||||||||
| VP COMMERCIAL LENDING | 40.00 | 0.00 | $107,529 | $0 | $27,303 | Yes (X) | ||
| Vicki Perrot | ||||||||
| VP Chief Consumer Lending Officer | 40.00 | 0.00 | $105,466 | $0 | $22,780 | Yes (X) | ||
| Dan Hanson | ||||||||
| VP COMMERCIAL LENDING | 40.00 | 0.00 | $103,844 | $0 | $8,859 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,278,284 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $336,388 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 12 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INTEREST ON LOANS | 522100 | $41,895,520 | $41,895,520 | |
| CREDIT AND DEBIT CARD INTERCHANGE | 522200 | $5,400,504 | $5,353,905 | $46,599 |
| SERVICE FEES | 522100 | $5,075,935 | $5,065,851 | $10,084 |
| OTHER INCOME | 524298 | $1,695,975 | $1,695,975 | |
| CUNA INSURANCE INCOME | 522100 | $1,404,613 | $1,404,613 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $55,472,547 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,718,003 | TotalRevenueColumnAmt |
| Exclusion | $2,718,003 | ExclusionAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $126,004 | TotalRevenueColumnAmt |
| Exclusion | $126,004 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $63,799 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $63,799 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $63,799 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $63,799 | RelatedOrExemptFuncIncomeAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $102,451,000 | SecuritiesAmt |
| Other | $1,623,000 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $102,204,497 | SecuritiesAmt |
| Other | $1,693,153 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $246,503 | SecuritiesAmt |
| Other | -$70,153 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $176,350 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$70,153 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $246,503 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $58,556,703 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $55,409,510 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $56,683 | UnrelatedBusinessRevenueAmt |
| Exclusion | $3,090,510 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $351,209 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,961,601 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,127,964 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $894,946 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,177,785 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,114,631 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $99,989 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $167,831 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,371 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $868,882 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,553,682 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $807,889 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,794,913 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $238,508 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $132,123 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,062,508 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $361,305 | TotalAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| DIVIDENDS PAID ON MEMBE | $7,764,858 |
| PROVISION FOR LOAN LOSS | $3,408,332 |
| LOAN SERVICING EXPENSE | $3,323,902 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,052,214 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $43,274,454 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,765,822 | BOYAmt |
| EOY | $8,523,641 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $26,265,618 | BOYAmt |
| EOY | $41,792,330 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $40,435 | BOYAmt |
| EOY | $256,682 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $961,135,288 | BOYAmt |
| EOY | $1,055,740,338 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $884,838 | BOYAmt |
| EOY | $1,089,159 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $40,660,154 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $12,203,853 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $26,777,787 | BOYAmt |
| EOY | $28,456,301 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $157,227,424 | BOYAmt |
| EOY | $156,629,049 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $34,470,000 | BOYAmt |
| EOY | $48,135,000 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $23,906,713 | BOYAmt |
| EOY | $25,488,047 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,238,473,925 | BOYAmt |
| EOY | $1,366,110,547 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,626,974 | BOYAmt |
| EOY | $5,111,001 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,093,123,831 | BOYAmt |
| EOY | $1,205,636,326 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,097,750,805 | BOYAmt |
| EOY | $1,210,747,327 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $140,723,120 | BOYAmt |
| EOY | $155,363,220 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $140,723,120 | BOYAmt |
| EOY | $155,363,220 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,238,473,925 | BOYAmt |
| EOY | $1,366,110,547 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $15,282,249 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$619,426 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$22,723 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,839,653 | OtherCostOrOtherBasisAmt |
| Book Value | $4,839,653 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $25,720,128 | OtherCostOrOtherBasisAmt |
| Depreciation | $6,561,571 | DepreciationAmt |
| Book Value | $19,158,557 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $10,100,373 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,642,282 | DepreciationAmt |
| Book Value | $4,458,091 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $28,456,301 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (7 entries)
| DescDesc | AmtAmt |
|---|---|
| SHARE DRAFTS | $173,992,741 |
| REGULAR SHARES | $333,142,673 |
| MONEY MARKET SHARES | $339,454,456 |
| SHARE CERTIFICATES | $234,679,401 |
| IRA/KEOUGH ACCOUNTS | $111,646,371 |
| OTHER SHARES | $10,528,282 |
| NONMEMBER DEPOSITS | $2,192,402 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,205,636,326 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part X, Line 2: | FormAndLineReferenceDesc |
| Explanation | The Credit Union has filed tax returns in the past for activities they have deemed taxable and has a minimal net operating loss carryforward as of the 2016 calendar year. 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 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. The Credit Union's 2012 through 2016 tax years are open for examination by federal and state taxing authorities. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (7 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|
| Covantage Cares | |||||||
| 723 6th Ave PO Box 107 | Antigo | WI | 54409 | 811056981 | 501(c)(3) | $192,859 | General Support |
| SHAWANO COUNTRY VISION | |||||||
| 1263 S Main St | Shawano | WI | 54166 | 390741103 | 501(c)(6) | $10,000 | General support |
| Wausau Events | |||||||
| 407 Grant St | Wausau | WI | 54403 | 391612386 | 501(c)(3) | $9,000 | General Support |
| Wausau Central Wisconsin Convention & Visitors Bureau | |||||||
| 219 Jefferson St | Wausau | WI | 54403 | 391909766 | 501(c)(6) | $7,500 | General Support |
| United FCS | |||||||
| 611 S 32nd Ave | Wausau | WI | 54401 | 391979102 | Government | $8,590 | General Support |
| Elcho Cross Country Ski | |||||||
| PO Box 38 | Elcho | WI | 54428 | 391678494 | 501(c)(3) | $5,000 | General Support |
| Community Health Foundation | |||||||
| 112 E 5th Ave | Antigo | WI | 54409 | 391304761 | 501(c)(3) | $5,000 | General Support |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 5 | Total501c3OrgCnt |
| Total Other Org | 2 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part I, Line 2: | FormAndLineReferenceDesc |
| Explanation | THE ORGANIZATION MONITORS THE USE OF THEIR GRANT FUNDS CLOSELY. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (7 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BRIAN PRUNTY | ||||||||||||||
| CEO | $455,526 | $0 | $42,520 | $0 | $1,724 | $0 | $21,027 | $0 | $19,891 | $0 | $540,688 | $0 | $0 | $0 |
| CHARLES ZANAYED | ||||||||||||||
| President | $232,812 | $0 | $18,651 | $0 | $374 | $0 | $20,418 | $0 | $18,619 | $0 | $290,874 | $0 | $0 | $0 |
| DOUGLAS ANDERSON | ||||||||||||||
| CHIEF FINANCIAL OFFICER | $184,313 | $0 | $18,578 | $0 | $1,056 | $0 | $16,212 | $0 | $14,507 | $0 | $234,666 | $0 | $0 | $0 |
| ROBERT VAN ABEL | ||||||||||||||
| CHIEF INFORMATION OFFICER | $164,189 | $0 | $17,191 | $0 | $2,374 | $0 | $13,776 | $0 | $16,383 | $0 | $213,913 | $0 | $0 | $0 |
| STEVE WILDER | ||||||||||||||
| CHIEF COMMERCIAL OFFICER | $170,892 | $0 | $16,956 | $0 | $1,553 | $0 | $13,182 | $0 | $9,215 | $0 | $211,798 | $0 | $0 | $0 |
| SHERRY AULIK | ||||||||||||||
| SVP ADMINISTRATIVE OFFICER | $166,367 | $0 | $16,383 | $0 | $806 | $0 | $14,969 | $0 | $18,524 | $0 | $217,049 | $0 | $0 | $0 |
| STACY BOUCHE | ||||||||||||||
| CHIEF MORTGAGE LENDING OFF | $113,205 | $0 | $11,535 | $0 | $224 | $0 | $10,384 | $0 | $18,227 | $0 | $153,575 | $0 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Section A, line 6 | COVANTAGE CREDIT UNION IS OWNED AND OPERATED BY ITS 92,824 MEMBERS AND A VOLUNTEER BOARD OF DIRECTORS. A SAVINGS ACCOUNT WITH A MINIMAL $10 DEPOSIT MEETS THE REQUIREMENT OF BEING A MEMBER-OWNER JUST AS LONG AS THEY MEET ONE OF THE OTHER MEMBERSHIP REQUIREMENTS SUCH AS RESIDING IN THE CHARTERED AREA, A FAMILY MEMBER IS ALREADY A MEMBER, ARE A MEMBER OF SERVO FS COOPERATIVE IN ANTIGO, OR ARE A STUDENT/ALUMNI OF A POST-SECONDARY SCHOOL IN MARATHON COUNTY. OUR MEMBER-OWNERS BENEFIT FROM BELONGING TO COVANTAGE THROUGH LOWER LOAN RATES, HIGHER SAVINGS RATES, FEWER FEES, IN ADDITION TO THE INTRODUCTION OF NEW PRODUCTS AND OTHER INCENTIVES. |
| 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 | THE MEMBERS WOULD NEED TO APPROVE DECISIONS SUCH AS CHANGE OF NAME OR A MERGER DECISION. |
| Form 990, Part VI, Section B, line 11b | THE BOARD OF DIRECTORS IS PRESENTED WITH A COPY OF FORM 990 AT A MONTHLY BOARD MEETING, WHICH ALLOW THEM TO REVIEW IT PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. |
| Form 990, Part VI, Section B, line 12 | All employees, in addition to directors and credit committee members. No director is allowed to become an employee, or vice-versa, while either employed or servicing on the board, or within one year after their termination/ending of board term. In regards to lending, all employee loans are reviewed to ensure no conflicts of interest have occurred within the transaction. Any potential conflicts are reported to the board for review. Any potential conflicts are reviewed by the SVP Commercial lending and then reported to the board of directors. Should a conflict of interest arise, it would be acted upon on a case-by-case matter, with appropriate repercussions taken as found appropriate by CoVantage CU. |
| Form 990, Part VI, Section B, line 15 | THE PROCESS OF DETERMINING COMPENSATION FOR OFFICERS INCLUDING DOUG ANDERSON, STEVE WILDER, ROBERT VAN ABEL, SHERRY AULIK, STACY BOUCHE, BRYAN ERMELING, CHARLES ZANAYED, BRIAN MILLAR, RHONDA NORRBOM, BICKI PERROT, DAN HANSON, MICHELE BRETTINGEN, KARLA HODGKINS, DANA WEIGEL, KATHERINE STEFFES, BRAD VAN DORF AND BRIAN PRUNTY (ALSO CEO), INCLUDE AN ANNUAL COMPARABILITY SURVEY BASED OFF OF DATA FROM OTHER CREDIT UNIONS OF SIMILAR ASSET SIZE TO COVANTAGE. THIS DATA IS USED TO CREATE AN INDUSTRY AVERAGE FOR EACH POSITION. THE MIDPOINT OF OUR PAYGRADE IS TARGETED TO BE COMPARABLE TO THAT INDUSTRY AVERAGE. THESE SURVEYS ARE COMPLETED ANNUALLY, BEGINNING IN SEPTEMBER/OCTOBER. THE NEW SALARY AMOUNTS ARE THEN APPROVED BY THE BOARD IN NOVEMBER FOR THE UPCOMING YEAR. SALARIES ARE THEN ADJUSTED ON EACH INDIVIDUAL'S ANNUAL REVIEW DATE. FOR THOSE INDIVIDUALS LISTED, THIS PROCESS WAS LAST COMPLETED IN 2014 FOR THE 2015 CALENDAR YEAR. |
| Form 990, Part VI, Section C, line 19 | COVANTAGE CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, IN ADDITION TO ITS CONFLICT OF INTEREST POLICY, AVAILABLE TO THE PUBLIC UPON REQUEST. FINANCIAL STATEMENTS ARE AVAILABLE BY VIEWING THE NCUA 5300 CALL REPORT OR BY OBTAINING AN ANNUAL STATEMENT BROCHURE AVAILABLE IN THE LOBBIES OF ALL COVANTAGE CREDIT UNION BRANCHES. |
| Form 990, Part XI, line 9: | OTHER COMPREHENSIVE INCOME -148,649. Transition Properties - Consolidated Statement -1,258. Covantage Cares - Consolidated Statement 127,184. |
| Form 990, Part XII, Line 2c: | NO CHANGE IN THE PROCESS FROM THE PRIOR YEAR. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Transition Properties LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 723 6th Avenue PO Box 107 | AddressLine1Txt |
| City | Antigo | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 544090107 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 461713416 | EIN |
| Primary Activities | Own and manage other real estate owned by CoVantage Credit Union. | PrimaryActivitiesTxt |
| Legal Domicile State | WI | LegalDomicileStateCd |
| Total Income | -$1,258 | TotalIncomeAmt |
| End Of Year Assets | $39,739 | EndOfYearAssetsAmt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CoVantage Credit Union | BusinessNameLine1Txt |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Covantage Cares Foundation INc | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 723 6th Avenue PO Box 107 | AddressLine1Txt |
| City | Antigo | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 544090107 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 811056981 | EIN |
| Primary Activities | Provide Financial Assistance to Individuals & Organizations | PrimaryActivitiesTxt |
| Legal Domicile State | WI | LegalDomicileStateCd |
| Exempt Code Section | 501(c)(3) | ExemptCodeSectionTxt |
| Public Charity Status | Line 7 | PublicCharityStatusTxt |
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (1) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Covantage Cares Foundation Inc | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | B | TransactionTypeTxt |
| Involved | $192,859 | InvolvedAmt |
| Method Of Amount Determination | Fair Market Value | MethodOfAmountDeterminationTxt |
Comments