2015-11-10T12:26:26-06:00 2014-12-31 410746749 CLIFTONLARSONALLEN LLP PO BOX 217 AUSTIN MN 55912 990 2014-01-01 396264347 COMMUNITY FIRST CREDIT UNION COMM 9208307200 PO BOX 1487 APPLETON WI 549121487 CATHERINE J TIERNEY CEO/PRESIDENT 9208307200 2015-11-10 1 KAREN GRIES P00078514 5074347000 2015-11-10 2014 2016-02-25 16:41:14Z CATHERINE J TIERNEY PO BOX 1487 APPLETON WI 549121487 86389378 0 X WWW.COMMUNITYFIRSTCU.ORG X 1975 WI COMMUNITY FIRST CREDIT UNION WILL PROVIDE HIGH QUALITY, COMPETITIVE FINANCIAL PRODUCTS AND SERVICES WHICH ANTICIPATE AND EXCEED OUR MEMBERS' NEEDS. WE INTEND TO BE THE PRIMARY FINANCIAL ORGANIZATION FOR OUR MEMBERS BY EARNING AND MAINTAINING THEIR TRUST, BY MAINTAINING A BALANCE BETWEEN SOUND GROWTH, EARNINGS AND RESERVES, BY PROVIDING A CHALLENGING AND REWARDING ENVIRONMENT FOR OUR EMPLOYEES AND BY CONTRIBUTING TO THE SOCIAL AND ECONOMIC WELL-BEING OF THE COMMUNITIES WE SERVE. 9 8 500 8 114106 -18096 0 0 79027588 84096392 1173399 1192621 197421 -9219 80398408 85279794 0 0 10555823 10371637 20915943 21726997 0 0 0 19555063 19350074 51026829 51448708 29371579 33831086 2014304454 2074938633 1799527758 1826251822 214776696 248686811 OUR MISSION IS TO BE OUR MEMBERS' PRIMARY FINANCIAL SERVICES PROVIDER. 0 0 PROVIDED FINANCIAL SERVICES TO 115,974 MEMBER OWNERS IN 2014. FUNDED 21,991 LOANS TO THESE MEMBERS IN 2014 FOR $860,982,974. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 55947 0 1 500 1 1 1 0 0 0 0 0 X 9 8 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X CATHERINE J TIERNEY 9208307220 2626 S ONEIDA ST APPLETON WI 54912 JAY FULKERSON CHAIRPERSON 1.00 X X 0 0 0 TERRI TOWLE VICE-CHAIRPERSON 1.00 X X 0 0 0 DANIEL FERRIS SECRETARY 1.00 X X 0 0 0 DEAN HAWKINSON BOARD MEMBER 1.00 X 0 0 0 MARY HULTGREN BOARD MEMBER 1.00 X 0 0 0 DR SUSAN MAY BOARD MEMBER 1.00 X 0 0 0 DAVID PEPERKORN BOARD MEMBER 1.00 X 0 0 0 WILLIAM PETERS BOARD MEMBER 1.00 X 0 0 0 CATHERINE J TIERNEY CEO/PRESIDENT/TREASURER 40.00 X X 655693 0 92614 TIMOTHY SCIBORSKI CHIEF LENDING OFFICER 40.00 X 190571 0 69525 MARY J SULLIVAN CHIEF FINANCIAL OFFICER 40.00 X 300831 0 50750 SCOTT STEINFORT CHIEF TECHNOLOGY OFFICER 40.00 X 221579 0 28373 JEFFREY SCHWEITZER SVP FACILITIES AND PURCHASING 40.00 X 180991 0 46450 KEVIN HARTZ SVP BRANCH OPERATIONS 40.00 X 204078 0 24394 AMANDA SECOR SVP MARKETING 40.00 X 164477 0 19327 KIM VAN OSDOL SVP BUSINESS SERVICES 40.00 X 218675 0 84942 LAURIE BUTZ SVP ORG. DEVELOPMENT & INVESTMENTS 40.00 X 194404 0 23175 2331299 0 439550 16 0 1 0 BURTON KARSTEDT 2336 HIGHPOINT DR LINDENHURST IL 60046 ADVERTISING 2263626 MIRON CONSTRUCTION CO INC 1471 MCMAHON DR NEENAH WI 54956 CONSTRUCTION 2024579 FISERV 75 REMITTANCE DRIVE SUITE 6962 CHICAGO IL 60675 DATA PROCESSING 1224402 US DEPT OF EDUCATION PO BOX 979066 ST LOUIS MO 63197 FFEL CONSOLIDATION LOAN REBATE FEES 481569 VAN LIESHOUT LAW OFFICE 122 E MAIN ST PO BOX 186 LITTLE CHUTE WI 54140 ATTORNEY FEES 272636 11 LOAN INTEREST 900099 63458810 63458810 OTHER OPERATING INCOME 900099 12099302 12099302 FEES & SERVICE CHGS 522100 8538280 8414955 123325 84096392 1192116 1192116 24435 33654 -9219 -9219 -9219 1076435 1075930 505 505 505 85279794 83973067 114106 1192621 10371637 1591212 16489455 1079713 1256246 1310371 232301 211074 2552330 1762965 1590911 75424 348031 1918 1738264 293559 OFFICE OPERATIONS EXPEN 4262809 LOAN SERVICING EXPENSES 2753293 PROVISION FOR LOAN LOSS 1582211 PUBLIC RELATIONS 706777 1238207 51448708 19892799 21773345 475216 518729 1496821822 1692468397 9921407 11934525 48639814 23440230 23061376 25199584 455998517 317217468 8133317 5826585 2014304454 2074938633 20879946 22446871 70000000 0 1708647812 1803804951 1799527758 1826251822 X 0 0 0 0 214776696 248686811 214776696 248686811 2014304454 2074938633 X 33831086 79029 X X 0 0 0 6690543 6690543 25320306 9355162 15965144 25692 25692 0 16415846 13940628 2475218 187427 118748 68679 25199584 INVESTMENTS - PROGRAM RELATED 317217468 C 317217468 MEMBER ACCOUNTS 1803804951 1803804951 X X 1 1 X X X X 0 1 0 CATHERINE J TIERNEY CEO/PRESIDENT/TREASURER 453513 0 183923 0 18257 0 136315 0 17364 0 809372 0 0 0 TIMOTHY SCIBORSKI CHIEF LENDING OFFICER 152774 0 32710 0 5087 0 51871 0 17654 0 260096 0 0 0 MARY J SULLIVAN CHIEF FINANCIAL OFFICER 221047 0 75657 0 4127 0 40744 0 10006 0 351581 0 0 0 SCOTT STEINFORT CHIEF TECHNOLOGY OFFICER 182397 0 35287 0 3895 0 22309 0 6064 0 249952 0 0 0 JEFFREY SCHWEITZER SVP FACILITIES AND PURCHASING 147068 0 29653 0 4270 0 42947 0 3503 0 227441 0 0 0 KEVIN HARTZ SVP BRANCH OPERATIONS 167421 0 32558 0 4099 0 22360 0 2034 0 228472 0 0 0 AMANDA SECOR SVP MARKETING 133392 0 27199 0 3886 0 18269 0 1058 0 183804 0 0 0 KIM VAN OSDOL SVP BUSINESS SERVICES 169989 0 42933 0 5753 0 65213 0 19729 0 303617 0 0 0 LAURIE BUTZ SVP ORG. DEVELOPMENT & INVESTMENTS 158605 0 31889 0 3910 0 21333 0 1842 0 217579 0 0 0 PART I, LINE 1A THE CREDIT UNION PROVIDES TRAVEL FOR SPOUSES WHEN TRAVELING WITH BOARD MEMBERS ONLY. THE CREDIT UNION PROVIDES ONE SOCIAL CLUB MEMBERSHIP. PART I, LINE 4B PART I, LINE 4B, SCHEDULE J, PART III, SUPPLEMENTAL INFORMATION. DEFERRED COMPENSATION PLAN SECTION 457(F) PLAN - THE CREDIT UNION HAS A NON-QUALIFIED DEFERRED COMPENSATION PLAN FOR THE ORGANIZATION'S CEO/PRESIDENT/TREASURER. UNDER THE TERMS OF THE PLAN, THE PARTICIPANT IS ENTITLED TO PAYOUT IF THE EMPLOYEE REMAINS EMPLOYED BY THE CREDIT UNION UNTIL A PREDETERMINED TIME. DEFERRED COMPENSATION EXPENSE RELATED TO THIS PLAN WAS $92,614 FOR THE YEAR. FORM 990, PART VI, SECTION A, LINE 6 MEMBERS OF THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER OWNER HAS ONE VOTE TO ELECT ONE OR MORE DIRECTORS OF THE GOVERNING BODY. 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 BY 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 11 THE FORM 990 IS REVIEWED BY CEO AND PRESENTED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C BOARD OF DIRECTORS COMPLETES A CONFLICT OF INTEREST QUESTIONNAIRE ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE USED AN OUTSIDE COMPENSATION CONSULTANT FOR CEO AND KEY EMPLOYEE COMPENSATION. THE COMPENSATION CONSULTANT WORKS DIRECTLY WITH THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS. THE DELIBERATION AND DECISIONS FOR SETTING COMPENSATIONS ARE DOCUMENTED AS APPROPRIATE. THIS PROCESS WAS LAST CONDUCTED IN 2014. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE REVIEWED BY THE BOARD OF DIRECTORS MONTHLY AND AN ANNUAL REPORT IS AVAILABLE TO MEMBERSHIP EACH YEAR. THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: OTHER COMPREHENSIVE INCOME -713,676. EQUITY ACQUIRED IN MERGER 792,705. FORM 990, PART XII, LINE 2B: AUDITED FINANCIAL STATEMENTS: THE ORGANIZATION HAS AN AUDIT PERFORMED EACH YEAR AS OF SEPTEMBER 30TH. THIS QUESTION IS BEING ANSWERED 'NO' ONLY BECAUSE THE REPORTING PERIOD FOR THE ANNUAL AUDIT NOT MATCHING THE DECEMBER 31ST REPORTING PERIOD FOR THE FORM 990. FORM 990, PART XII, LINE 2C: A FINANCIAL AUDIT IS PERFORMED ANNUALLY ALONG WITH INTERNAL AUDITS WHICH ARE PERFORMED THROUGHOUT THE YEAR. THE AUDIT PLAN AND ACTUAL AUDIT REPORTS ARE REVIEWED WITH THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS. COMMUNITY FIRST SERVICES INC PO BOX 1487 APPLETON WI 54912 391604353 INSURANCE WI COMMUNITY FIRST CREDIT UNION C 96997 565241 1.00000 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 COMMUNITY FIRST SERVICES INC A 24435 COST