2016-06-28T11:29:22-05:00 2015-12-31 410746749 CLIFTONLARSONALLEN LLP PO BOX 217 AUSTIN MN 55912 990 2015-01-01 390402815 KOHLER CREDIT UNION KOHL 9204592585 850 WOODLAKE ROAD KOHLER WI 53044 JOHN EHMANN EVP/CFO 9204592585 2016-06-15 1 SHERRI WESSELS P00888088 5074347000 2015 2016-09-27 15:27:22Z TONY KLOCKOW 850 WOODLAKE ROAD KOHLER WI 53044 16312090 0 X WWW.KOHLERCU.COM X CU 1938 WI TO ENCOURAGE THRIFT AMONG MEMBERS; TO CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE COST; TO PROVIDE AN OPPORTUNITY FOR EACH MEMBER TO IMPROVE THEIR RESPECTIVE ECONOMIC AND SOCIAL CONDITIONS; AND TO PERFORM THE FUNCTIONS AND EXERCISE THE POWERS DESIGNATED FOR CREDIT UNIONS UNDER APPLICABLE LAW. 9 9 177 9 54605 -38160 0 0 14288331 15695972 474572 482681 252591 0 15015494 16178653 14000 20378 369460 294423 6341954 7141276 0 0 0 6175525 7159237 12900939 14615314 2114555 1563339 278952203 307250775 253288198 280645703 25664005 26605072 X TO ENCOURAGE THRIFT AMONG MEMBERS; TO CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE COST; TO PROVIDE AN OPPORTUNITY FOR EACH MEMBER TO IMPROVE THEIR RESPECTIVE ECONOMIC AND SOCIAL CONDITIONS; AND TO PERFORM THE FUNCTIONS AND EXERCISE THE POWERS DESIGNATED FOR CREDIT UNIONS UNDER APPLICABLE LAW. 0 0 MORE THAN $170 MILLION IN NEW LOANS WERE ORIGINATED, OVER $257 MILLION IN LOAN BALANCES WERE SERVICED, AND OVER $277 MILLION IN DEPOSIT ACCOUNTS WERE MAINTAINED FOR MEMBER/OWNERS. DIVIDENDS OF $294,373 WERE PAID ON DEPOSIT ACCOUNTS TO APPROXIMATELY 39,927 MEMBER/OWNERS IN 2015. DATA PROCESSING COSTS EXCEEDING JUST OVER $1.2MILLION WERE INCURRED TO RECORD MEMBER ACCOUNT ACTIVITY AND PROVIDE MEMBERS ACCESS TO THEIR ACCOUNTS VIA HOME BANKING, ATM NETWORKS AND IN PERSON AT THE CREDIT UNION. 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 4489 0 1 177 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X JOHN EHMANN 9204592585 850 WOODLAKE ROAD KOHLER WI 53044 JOHN PERONNE VICE CHAIR 2.50 X 0 0 0 BRIAN POST TREASURER 2.50 X 0 0 0 JOSEPH VIRANT SECRETARY 2.50 X 0 0 0 LAURIE LINDOW DIRECTOR 2.50 X 0 0 0 TRAVIS LEHN DIRECTOR 2.50 X 0 0 0 DENISS MAKEJENKO DIRECTOR 2.50 X 0 0 0 JOSHUA OSTERBERG DIRECTOR 2.50 X 0 0 0 TODD ULLMAN DIRECTOR 2.50 X 0 0 0 TONY KLOCKOW PRESIDENT 60.00 X 280344 0 22487 KEN SACKMANN SVP/CHIEF LENDING OFFICER 60.00 X 155568 0 4306 JOHN EHMANN CFO/SFV FINANCE 60.00 X 149825 0 13607 KEVIN O'CONNOR SVP/CHIEF RETAIL OFFICER 60.00 X 122850 0 14611 DALE LIVINGSTON SVP LENDING 60.00 X 100923 0 9456 SUSAN PETSKA MORTGAGE LOAN ORIGINATOR 40.00 X 167799 0 8837 REBECCA THIMMIG MORTGAGE LOAN ORIGINATOR 40.00 X 120289 0 13423 JOSHUA MACDONALD LENDING SPECIALIST 40.00 X 105615 0 10141 1203213 0 96868 8 0 1 0 FISERV 1250 DRUMMERS LANE VALLEY FORGE PA 19481 DATA PROCESSING 749873 FIS 4900 W BROWN DEER RD BROWN DEER WI 53223 DEBIT CARD PROCESSING 644416 CORPORATE CENTRAL CU 6262 S LOWELL PLACE MUSKEGO WI 53150 BANK SERVICE CHARGES 109434 3 LOAN INTEREST 900099 9980716 9980716 OTHER INCOME 524298 3588560 3586913 1647 FEE INCOME 522100 2126696 2073738 52958 15695972 464335 464335 151783 133437 18346 18346 18346 16178653 15641367 54605 482681 20378 294423 1050613 4905627 139597 593541 451898 2955 106952 3418560 686856 397036 853826 EDUCATIONAL AND PROMOTI 649770 LOAN SERVICING EXPENSE 425241 PROVISION FOR LOAN LOSS 298392 PROFESSIONAL & OUTSIDE 151901 167748 14615314 4138479 5052211 7593840 8415688 44009 350789 223281104 256436315 470723 573420 23836178 10088186 13940601 13747992 6750128 3376686 6290234 2350190 16443085 16947484 278952203 307250775 2144112 2707411 251144086 277938292 253288198 280645703 X 0 0 0 0 25664005 26605072 25664005 26605072 278952203 307250775 X 1563339 -21761 -600511 X X 0 1 X 1 0 4649395 4649395 12092172 4206810 7885362 7021463 5881376 1140087 73148 73148 13747992 LOANS HELD FOR SALE 2254058 OTHER ASSETS 11304811 ACCRUED INTEREST INCOME 708533 NCUA DEPOSIT 2680082 16947484 MEMBER DEPOSITS 277938292 277938292 X 16178660 7 7 16178653 0 16178653 14615316 0 14615316 -2 -2 14615314 PART X, LINE 2: THE CREDIT UNION IS GENERALLY EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES AND STATE CORPORATE BUSINESS TAX. HOWEVER, THE CREDIT UNION IS SUBJECT TO FEDERAL TAX ON NET UNRELATED BUSINESS INCOME. IN ADDITION, WISCONSIN INCOME TAX MAY BE IMPOSED BASED ON THE LEVEL OF MUNICIPAL DEPOSITS AT THE CREDIT UNION. PART XI, LINE 2D - OTHER ADJUSTMENTS: ROUNDING 7. PART XII, LINE 4B - OTHER ADJUSTMENTS: ROUNDING -2. 1 SCHOLARSHIPS 14 20000 PART I, LINE 2: STUDENTS MUST RETAIN A B AVERAGE TO QUALIFY FOR SCHOLARSHIP FUNDS. WE REQUIRE THEM TO SUBMIT THEIR PRIOR SEMESTER GRADES (TRANSCRIPTS) AND THEIR CLASS SCHEDULE FOR THE UPCOMING SEMESTER PRIOR TO FUNDS BEING DISBURSED. X X 1 1 X X X X X 0 1 0 TONY KLOCKOW PRESIDENT 215093 0 28315 0 36936 0 5182 0 17305 0 302831 0 0 0 KEN SACKMANN SVP/CHIEF LENDING OFFICER 146501 0 9067 0 0 0 3651 0 655 0 159874 0 0 0 JOHN EHMANN CFO/SFV FINANCE 141324 0 8501 0 0 0 3597 0 10010 0 163432 0 0 0 SUSAN PETSKA MORTGAGE LOAN ORIGINATOR 28874 0 138925 0 0 0 0 0 8837 0 176636 0 0 0 PART I, LINE 1A HEALTH CLUB BENEFITS OF $1,250 FOR TONY KLOCKOW. PART I, LINE 4B TONY KLOCKOW - AN OBLIGATION WAS ACCRUED - NO DISTRIBUTIONS FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS COMPRISED OF 39,927 MEMBER/OWNERS, EACH OF WHICH HAS EQUAL RIGHTS IN OWNERSHIP, GOVERANCE AND VOTING AT THE ANNUAL MEETINGS, WITH THE EXCEPTION OF THE MEMBER-OWNERS WHO ARE ELECTED TO THE BOARD OF DIRECTORS. MEMBERSHIP IN THE CREDIT UNION IS OPEN TO THOSE WHO LIVE OR WORK IN SHEBOYGAN, CALUMET, FOND DU LAC, MANITOWOC, OZAUKEE, WASHINGTON, MILWAUKEE OR WAUKESHA COUNTIES IN WISCONSIN. ADDITIONALLY, ALL EMPLOYEES AND RETIREES OF KOHLER COMPANY, POLAR WARE, CURT JOA, AND PLYMOUTH FOAM ARE ELIGIBLE FOR MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBER-OWNERS OF THE CREDIT UNION HAVE THE AUTHORITY TO ELECT THE MEMBERS OF THE BOARD OF DIRECTORS FOR 3-YEAR TERMS ON A ROTATING BASIS. CANDIDATES ARE ELECTED BY A SIMPLE PLURALITY VOTE. THE BOARD OF DIRECTORS APPOINTS A NOMINATION COMMITTEE CONSISTING OF NOT FEWER THAN THREE MEMBERS, WHO SHALL NOMINATE ONE OR MORE MEMBERS FOR EACH VACANCY ON THE BOARD. FORM 990, PART VI, SECTION A, LINE 7B BYLAWS MAY BE AMENDED BY A THREE-FOURTHS MAJORITY VOTE OF THE MEMBERS PRESENT AT ANY ANNUAL OR SPECIAL MEETING OF THE MEMBERS, IF ALL NOTICE AND OTHER REQUIREMENTS APPLICABLE TO AMENDMENT OF BYLAWS ARE SATISFIED. FORM 990, PART VI, SECTION B, LINE 11 PRIOR TO BEING FILED WITH THE IRS, A COPY OF THE IRS FORM 990 AND RELATED SCHEDULES ARE REVIEWED BY THE PRESIDENT AND CHIEF FINANCIAL OFFICER, INCLUDING A CONFIRMATION OF ACCURACY OF EVERY ANSWER AND OVERSIGHT OF APPROPRIATE CHANGES. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST REQUIREMENTS ARE PART OF THE PERSONNEL POLICY WHICH IS REQUIRED TO BE REVIEWED ANNUALLY BY DIRECTORS AND EMPLOYEES. ALSO, AT EACH MONTHLY BOARD MEETING DIRECTORS ARE ASKED IF THEY HAVE A CONFLICT OF INTEREST WITH REGARDS TO ANY AGENDA ITEM. IF A CONFLICT OF INTEREST IS IDENTIFIED , THE BOARD MEMBER IS RECUSED FROM VOTING ON THAT ITEM. ALSO, AT EACH LOAN COMMITTEE MEETING, LOAN COMMITTEE MEMBERS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST WITH RESPECT TO ANY LOAN BROUGHT BEFORE THE COMMITTEE, AND ARE RECUSED FROM VOTING ON APPROVAL OF THE RELATED LOAN. FORM 990, PART VI, SECTION B, LINE 15 SALARY SURVEY IS COMPLETED BY AN INDEPENDENT CPA FIRM. SALARY IS SET BY THE BOARD COMPENSATION COMMITTEE. MINUTES OF THE COMMITTEE MEETINGS ARE RECORDED. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION'S LOBBIES. OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: SFAS NO. 158 IMPLEMENTATION RELATED TO DEFINED BENEFIT PLAN -684,561. ACQUIRED EQUITY IN MERGER 84,050. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM PRIOR YEAR.