2014-08-19T12:27:16-05:00 2013-12-31 420714325 MCGLADREY LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2013-01-01 390906277 SUPERIOR CHOICE CREDIT UNION SUPE 8005694167 2911 TOWER AVENUE SUITE 9 SUPERIOR WI 54880 GARY ELLIOTT PRESIDENT/CEO 8005694167 2014-08-19 1 GERALD B KISSELL P00092658 6123324300 2014-08-19 2013 2015-11-30 17:44:51Z X GARY ELLIOTT 2911 TOWER AVENUE SUITE 9 SUPERIOR WI 54880 19027459 0 X WWW.SUPERIORCHOICE.COM X 1932 WI SUPERIOR CHOICE CREDIT UNION'S MISSION IS TO BE OUR MEMBERS' PRIMARY FINANCIAL SERVICE PROVIDER. 9 9 113 29 36271 -2314 0 0 13462085 14155321 231902 520939 52129 40177 13746116 14716437 20937 39966 1449603 1520912 4061866 4251861 0 0 0 3794246 5276606 9326652 11089345 4419464 3627092 227107571 250655171 204579117 224997957 22528454 25657214 SUPERIOR CHOICE CREDIT UNION'S MISSION IS TO BE OUR MEMBERS' PRIMARY FINANCIAL SERVICE PROVIDER. 0 0 THE CREDIT UNION HOLDS DEPOSITS THROUGH VARIOUS TYPES OF ACCOUNTS INCLUDING MEMBERSHIP SAVINGS, CHRISTMAS CLUB, SHARE CERTIFICATE, PREMIER MONEY MARKET, IRS SAVINGS/CERTIFICATES, MARKET CHOICE SAVINGS, AND HEALTH SAVINGS ACCOUNTS; AND FOR MAKING LOANS THROUGH CONSUMER, MORTGAGE, AND CREDIT CARD CHANNELS. THE CREDIT UNION'S FIELD OF MEMBERSHIP, 24,208, RECEIVES THE BENEFITS OF BEING A MEMBER THROUGH BELOW MARKET LOAN INTEREST RATES AND ABOVE MARKET RATES FOR DEPOSITS. THE CUDL PROGRAM HAS RECEIVED ACCOLADES FOR ITS PERFORMANCE DURING 2013 AND WILL CONTINUE TO SERVE MEMBERSHIP THOUGH THE VARIOUS CHANNELS IT REPRESENTS. 0 0 0 0 0 0 0 1 0 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 18349 0 1 113 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 X GARY ELLIOTT 7153925616 2911 TOWER AVENUE SUITE 9 SUPERIOR WI 54880 JAMES LARSON CHAIR 1.00 X X 2400 0 0 WILLIAM ANDERSON VICE CHAIR 1.00 X X 2400 0 0 ED GALLAGHER TREASURER 1.00 X X 2400 0 0 ELAINE PETERSON SECRETARY 1.00 X X 1000 0 0 LYNDA HOFMAN VICE CHAIR - AUDIT 1.00 X X 2400 0 0 MARK CASPER VICE CHAIR - LOANS 1.00 X X 2400 0 0 CHRIS GAY VICE CHAIR - PERSONNEL 1.00 X X 2400 0 0 GREG RUNNING VICE CHAIR - COMPLIANCE 1.00 X X 1000 0 0 PAUL GILBERTSON VICE CHAIR - EDUCATION 1.00 X X 1000 0 0 ERNIE KORPELA VICE CHAIR - PERSONNEL 1.00 X X 0 0 0 RON PEARSON DIRECTOR 1.00 X 0 0 0 GARY ELLIOTT PRESIDENT & CEO 40.00 X 213172 0 41406 BENJAMIN ALTONEN CFO 40.00 X 67271 0 4329 ANN MARIE OLSON EXECUTIVE VP 40.00 X 133258 0 13637 431101 0 59372 2 0 1 0 CU ANSWERS 6000 28 ST SE STE 100 GRAND RAPIDS MI 49546 DATA PROCESSING 367564 FIRST DATA CORP 1000 CARR RD WILMINGTON DE 19809 DATA PROCESSING 358265 CENTURYLINK PO BOX 4300 CAROL STREAM IL 60197 COMMUNICATIONS 103453 3 INTEREST ON LOANS 522100 10375598 10375598 SERVICE CHARGES AND OTHER FEES 522100 1903438 1867167 36271 OTHER REVENUE 522100 1876285 1876285 14155321 471676 471676 52691 12514 40177 40177 40177 3904528 443243 3883136 415372 21392 27871 49263 49263 14716437 14119050 36271 561116 36466 3500 1520912 343578 3098448 328545 202984 278306 94698 36000 279901 269148 1423508 298626 160637 11227 549551 105602 PROVISING FOR BAD DEBT 1169669 LOAN SERVICING 472751 NCUSIF PREMIUM 161460 UBIT TAXES 790 243038 11089345 6958587 10242040 5128350 8151496 682858 696276 177682636 191360490 126083 188335 12723146 7192507 5517361 5530639 21118714 20328411 9892982 14157484 227107571 250655171 1246792 740368 666609 875957 0 3000000 202665716 220381632 204579117 224997957 X 0 0 0 0 22528454 25657214 22528454 25657214 227107571 250655171 X 3627092 -1483567 985235 X 0 1 X 1 0 0 1 X 1037530 1037530 6065280 2400913 3664367 336577 200957 135620 5236705 4590637 646068 47054 47054 5530639 457(B) PLAN 83342 C FEDERAL AGENCY SECURITIES 18807672 C ACCUMULATED GAIN/LOSS ON SECURITIES -1353897 C MUNICIPAL BONDS 2791294 C 20328411 NCUSIF DEPOSIT 2018248 OTHER ASSETS 152763 AMORTIZED LOANS - TRAID 7224351 FREDDIE MAC LOANS 828722 CAPITAL SHARES IN CORP CU 1280162 OTHER REAL ESTATE OWNED 576542 PENSION 2076696 14157484 MEMBER SHARES 220381632 220381632 X 14701080 0 14701080 15357 15357 14716437 11073988 -15357 -15357 11089345 0 11089345 PART IV, LINE 2B: THE CREDIT UNION SERVICES MORTGAGE LOANS ON BEHALF OF FREDDIE MAC. FUNDS ARE HELD IN ESCROW TO PAY TAXES AND INSURANCE ON BEHALF OF MORTAGE LOAN MEMBERS. PART X, LINE 2: THE CREDIT UNION BELIEVES THAT ITS INCOME TAX FILING POSITIONS AND DEDUCTIONS WILL BE SUSTAINED ON AUDIT AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WILL RESULT IN A MATERIAL CHANGE TO ITS FINANCIAL CONDITION. THEREFORE, NO RESERVES FOR UNCERTAIN INCOME TAX POSITIONS HAVE BEEN RECORDED PURSUANT TO APPLICABLE GUIDANCE. IN ADDITION, THE CREDIT UNION DID NOT RECORD A CUMULATIVE EFFECT ADJUSTMENT RELATED TO THE ADOPTION OF FIN 48 (ASC 740). PART XI, LINE 4B - OTHER ADJUSTMENTS: GAIN ON SALE OF ASSETS RECLASSED FROM EXPENSES 27,871. REAL ESTATE TAXES ON RENTAL PROPERTY RECLASSED FROM EXPENSES -12,514. PART XII, LINE 2D - OTHER ADJUSTMENTS: GAIN ON SALE OF ASSETS RECLASSED TO REVENUE -27,871. REAL ESTATE TAXES ON RENTAL PROPERTY RECLASSED TO REVENUE 12,514. 1 NORTHWEST WISCONSIN COMMUNITY ACTION 1118 TOWER AVENUE SUPERIOR WI 54880 391091469 501(C)(3) 8911 SUPPORT FOR LOCAL COMMUNITY-FOCUSED AGENCY. 1 PART I, LINE 2: THE CREDIT UNION HAS A CONTRIBUTIONS POLICY IN PLACE (WITHIN THE MARKETING POLICY), WHICH STATES THE CONTRIBUTION GUIDELINES AS WELL AS THE PROCEDURES FOR ACCEPTING DONATION REQUESTS. ALL REQUESTS ARE PLACED IN WRITING THROUGH THE AVP OF MARKETING AND SALES. DONATIONS ARE GRANTED WHEN APPROPRIATE. THE EVP OF OPERATIONS SIGNS OFF ON ALL REQUESTS WHEN PAYMENTS ARE MADE. IF THE CONTRIBUTION ENSURES SOME FORM OF ADVERTISEMENT OR SPONSHIP, THE AVP OF MARKETING AND SALES ARRANGES FOR THE PROPER USE OF LOGO FORMATS AND CORPORATE COLORS. THE CREDIT UNION VERIFIES IT IS REPRESENTED AS PROMISED. IF THERE IS NO EXPRESSED GUARANTEE OF ADVERTISEMENT OR ACKNOWLEDGEMENT OF THE DONATION, THE RECIPIENT IS RESPONSIBLE FOR THEIR DONATION. X 1 1 X X X X X 0 1 0 GARY ELLIOTT PRESIDENT & CEO 180565 0 31317 0 1290 0 21317 0 20089 0 254578 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS WAS AVAILABLE FOR EDUCATIONAL EVENTS, LEAGUE CONVENTIONS, CHAPTER EVENTS, AND STRATEGIC PLANNING OFF SITE RETREATS. PART I, LINE 4B BENJAMIN ALTONEN, CFO, PARTICIPATED IN A NONQUALIFIED 457(F) PLAN IN 2013. THERE WERE NO DISBURSEMENTS FROM THIS PLAN IN 2013. FORM 990, PART I, LINE 6, TOTAL NUMBER OF VOLUNTEERS: THE BOARD OF DIRECTORS HAS VOLUNTEERED TIME DURING THE YEAR ALONG WITH 10 EMPLOYEES VOLUNTEERING THEIR TIME 2 TIMES THIS YEAR FOR E-RECYCLING. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS REVIEWED BY THE PRESIDENT AND CFO AND PRESENTED TO THE BOARD OF DIRECTORS AT THEIR MONTHLY MEETING IMMEDIATELY FOLLOWING THE SUBMISSION OF FORM 990. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL DISCLOSURES OF FAMILY AND BUSINESS RELATIONSHIPS IS REQUIRED FROM ALL INSIDERS. INTERNAL AND EXTERNAL AUDITS OF THESE RELATIONSHIPS ARE CONDUCTED. FORM 990, PART VI, SECTION B, LINE 15 MANAGEMENT AND STAFF SALARIES, OTHER THAN THE PRESIDENT, ARE ADMINISTERED THROUGH THE USE OF THE COMPEASE SALARY ADMINISTRATION PROGRAM. THE SYSTEM PROVIDES A STRUCTURED APPROACH TO SALARY GRADING AND COMPARABLE SALARIES FOR ALL POSITIONS ON STAFF. ALL SALARY ADJUSTMENTS ARE MADE ACCORDING TO BOARD APPROVED MATRICES WITH FINAL REVIEW AND APPROVAL BY THE PRESIDENT. THE PRESIDENT'S SALARY AND ANNUAL ADJUSTMENT IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND POLICIES OF THE CREDIT UNION ARE AVAILABLE UPON WRITTEN REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FINANCIAL INFORMATION IS POSTED IN THE LOBBY EACH MONTH. FORM 990, PART XI, LINE 9: NET CHANGE IN UNRECONIZED PENSION LOSS AND TRANSITION OBLIGATION 985,235. NORTHLAND BENEFITS INC 2911 TOWER AVENUE SUPERIOR WI 54880 320258695 OTHER - BENEFITS PLUS MEMBERSHIP WI SUPERIOR CHOICE CREDIT UNION C 1665 1440 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SUPERIOR CHOICE CREDIT UNION'S 2013 FORM 990 WAS ORIGINALLY ELECTRONICALLY FILED ON AUGUST 13, 2014; HOWEVER THE RETURN WAS REJECTED, STATING THE RETURN TYPE INDICATED IN THE RETURN HEADER MUST MATCH THE RETURN TYPE ESTABLISHED WITH THE IRS FOR THE EIN. WE CONTACTED THE IRS TO RESOLVE THE ISSUE AND RESUBMITTED FORM 990 ELECTRONICALLY; THEREFORE WE RESPECTFULLY REQUEST NO LATE FEES OR PENALTIES BE ASSESSED DUE TO THE FACT THE RETURN WAS ORIGINALLY SUBMITTED BY THE EXTENDED DUE DATE OF AUGUST 15TH.