2013-08-13T09:41:14-05:00 2012-12-31 390758449 WIPFLI LLP PO BOX 8010 WAUSAU WI 544028010 990 2012-01-01 390555293 EDUCATORS CREDIT UNION EDUC 2628865900 1400 N NEWMAN ROAD RACINE WI 53406 MICHELLE GABOR 2628865900 2013-08-12 1 MARY A COATES CPA P00134220 7158453111 2013-08-12 2012 2016-02-24 21:20:13Z MICHELLE GABOR 1400 N NEWMAN ROAD RACINE WI 53406 82438511 0 2157 X WWW.ECU.COM X 1937 WI OUR MISSION IS TO PROVIDE EXCEPTIONAL, PERSONALIZED, AND CONVENIENT PRODUCTS AND SERVICES TO ASSIST OUR MEMBERS/OWNERS IN REACHING THEIR FINANCIAL GOALS. 9 9 411 13 25331 -73283 0 0 67145099 65809338 675814 1505926 0 273473 67820913 67588737 0 0 0 0 14140103 15945919 0 0 0 44986071 41051224 59126174 56997143 8694739 10591594 1318725437 1410249907 1185624637 1264691221 133100800 145558686 THE CREDIT UNION OPERATES TO ENCOURAGE THRIFT AMONG ITS MEMBERS, CREATE A SOURCE OF CREDIT AT A REASONABLE RATE OF INTEREST, AND TO PROVIDE AN OPPORTUNITY FOR ITS MEMBERS TO USE AND CONTROL THEIR OWN MONEY IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. 0 0 LENDING - PROVIDED NON COMMERCIAL LOANS, MORTGAGES AND LEASES WITH BALANCES OF $1,138,643,543. SAVING - PROVIDED SAVING, CHECKING, CDS, IRAS AND MONEY MARKET ACCOUNTS WITH BALANCES OF $1,240,295,918. WE HAVE OVER 114,000 MEMBERS AND FOCUS ON EDUCATING THEM IN OUR BRANCHES AS WELL AS THROUGH COMMUNITY ACTIVITIES. 0 0 0 0 0 1 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 72427 0 1 411 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 0 1 1 0 X MICHELLE GABOR 2628865900 1400 N NEWMAN ROAD RACINE WI 53406 BILL HALSEY 1.00 X 1850 0 0 KRISTINE DIENER 1.00 X 1900 0 0 MILTON DOCKERY 1.00 X 850 0 0 PAUL PELZEK 1.00 X 2250 0 0 MARY ANN SMITH 1.00 X 2250 0 0 MICHAEL ISELIN 1.00 X 2250 0 0 MARY LUENEBURG 1.00 X X 3700 0 0 CHERYL KOTHE 1.00 X X 1900 0 0 DAVE HOLLE 1.00 X X 2050 0 0 BRAD ZAUTCKE 1.00 X X 1650 0 0 JANET DAYS 1.00 X 1250 0 0 CLARENCE ALLEN 1.00 X 0 0 0 ROBERT STEPIEN 40.00 X 135197 0 4745 EUGENE SZYMCZAK 40.00 X 381437 0 27447 ROBERT WALLESER 40.00 X 136230 0 26324 JAMES HOOPER 40.00 X 102888 0 22284 MICHELLE GABOR 40.00 X 99412 0 10020 PETERS STEIN 40.00 X 131206 0 16830 LINDA HOOVER 40.00 X 129541 0 12574 JAMES HENDERSON 40.00 X 158305 0 14888 1296116 0 135112 7 0 1 0 CASHROON SOLUTIONS 161 BUSINESS PARK CIRCLE STOUGHTON WI 53589 ATM SERVICE 3206462 JACK HENRY & ASSOCIATES 1140 CENTRE POINTE BLVD MENDOTA HEIGHTS MN 55120 IT SERVICES 504611 INFOIMAGE 875 W SANDY LAKE RD COPPELL TX 75019 IT SERVICES 322982 BUKACEK CONSTRUCTION 2429 SUMMIT AVENUE RACINE WI 53404 CONSTRUCTION SERVICES 288640 EFUNDS CORPORATION 4900 W BROWN DEER RD BROWN DEER WI 53223 FINANCIAL SERVICES 276033 21 INTEREST ON LOANS 522100 49741186 49741186 MEMBER SERVICE FEES 522100 7011754 6986423 25331 CREDIT CARD INTERCHANGE INCOME 522100 5960625 5960625 LOAN SERVICE FEES 522100 2616853 2616853 COMMISSIONS 522100 366695 366695 112225 112225 65809338 1525203 1525203 321980 482721 -160741 -160741 -160741 12467698 1880078 12355000 2012053 112698 -131975 -19277 -19277 OTHER INCOME 900099 410097 410097 GIFT CARD INCOME 900099 24117 24117 434214 67588737 66194104 25331 1369302 X 1431228 10749962 1113470 1651034 1000225 87481 173543 90431 1327522 2999930 2315317 2525761 449980 2835739 228216 PROVISION FOR LOAN LOSS 11170886 DIVIDENDS PAID 8673569 DEBIT AND CREDIT CARD E 2270316 OTHER EXPENSES 1494554 4407979 56997143 68248163 64885127 72447772 95298746 1042269953 1125869987 862631 927218 63056610 26469800 37254671 36586810 75097091 57369649 22545156 29312370 1318725437 1410249907 2569263 11669596 1183055374 1253021625 1185624637 1264691221 X 0 0 0 0 133100800 145558686 133100800 145558686 1318725437 1410249907 X 10591594 404233 1462059 X X 0 1 X 1 0 1 1.00 1 0 10.00 5894047 5894047 31517801 7566985 23950816 483858 385171 98687 25160904 18517644 6643260 36586810 MEMBERS' SHARE AND SAVINGS ACCOUNTS 1240295918 OUTSTANDING DRAFTS PAYABLE 11392001 OTHER LIABILITIES 1333706 1253021625 X X 1 1 X X X 0 1 0 EUGENE SZYMCZAK 344565 0 20483 0 16389 0 21370 0 6077 0 408884 0 0 0 ROBERT WALLESER 115166 0 12340 0 8724 0 3563 0 22761 0 162554 0 0 0 JAMES HENDERSON 137489 0 9777 0 11039 0 7251 0 7637 0 173193 0 0 0 PART I, LINE 4B EUGENE SZYMCZAK- $15,120 JAMES HENDERSON - $10,400 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION CONSISTS OF MEMBERS. TO BE A MEMBER, ONE MUST HAVE A SHARE/SAVINGS ACCOUNT. EACH MEMBER HAS ONE VOTE TO ELECT THE GOVERNING BODY (BOARD OF DIRECTORS). 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 A MERGER IN WHICH EDUCATORS CREDIT UNION WAS NOT THE SURVIVING CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 8B MINUTES ARE NOT TAKEN FOR SUBCOMMITTEES OF THE BOARD, WITH THE EXCEPTION OF THE ALM COMMITTEE AND THE AUDIT COMMITTEE. THE ACTIONS RECOMMENDED BY THE SUBCOMMITTEES ARE PRESENTED TO THE FULL BOARD FOR APPROVAL AND INCLUDED IN THEIR MINUTES. FORM 990, PART VI, SECTION B, LINE 11 INFORMATION IS GATHERED BY THE V.P. OF FINANCE AND THE HUMAN RESOURCES MANAGER. THE FORM 990 IS REVIEWED BY THE CFO AND THE AUDIT MANAGER. A COPY OF THE 990 IS PROVIDED TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES ARE REQUIRED ANNUALLY TO SIGN THE OATH OF OFFICE AND REPORT ANY CONFLICTS OF INTEREST. WE OBTAIN ANNUAL SALARY DATA FROM A 3RD PARTY VENDOR. THE BUDGETING PROCESS AND BOARD APPROVE PERCENTAGE INCREASES FOR OVERALL SALARY INCREASES. ANNUAL INCREASES ARE GIVEN BASED ON SALARY RANGE, POSITION IN RANGE, PERFORMANCE, LENGTH OF EMPLOYMENT, TIME IN POSITION, AND THE BOARD APPROVED AVERAGE PERCENTAGE INCREASE. FORM 990, PART VI, SECTION B, LINE 15 WE OBTAIN ANNUAL SALARY DATA FROM A 3RD PARTY VENDOR. THE BUDGETING PROCESS AND BOARD APPROVE PERCENTAGE INCREASE FOR OVERALL SALARY INCREASES. ANNUAL INCREASES ARE GIVEN BASED ON SALARY RANGE, POSITION IN RANGE, PERFOMANCE, LENGTH OF EMPLOYMENT, TIME IN POSITION, AND THE BOARD APPROVED AVERAGE PERCENTAGE INCREASE. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUESTS. OTHER FEES FORM 990, PART IX, LINE 11G CONTRACTED SERVICES : TOTAL EXPENSES 90,431. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: EQUITY FROM MERGER WITH KYLE CENTRAL CREDIT UNION 1,479,059. LOSS FROM CUSO -17,000. FORM 990, PART XII, LINE 2C THE BOARD IS INCHARGE OF OVERSIGHT OF THE AUDIT PROCESS. THERE HAS BEEN NO CHANGE IN THE OVERSIGHT PROCESS FROM THE PRIOR YEAR. EDUCATORS CREDIT UNION-CENTER STREET REAL ESTATE LLC 1400 N NEWMAN ROAD RACINE WI 53406 REAL ESTATE WI 490000 N/A EDUCATORS CREDIT UNION-IVANHOE PLACE REAL ESTATE LLC 1400 N NEWMAN ROAD RACINE WI 53406 REAL ESTATE WI 8920000 N/A EDUCATORS CREDIT UNION FINANCIAL SERVICES INCORPORATE ECU FSI 1400 N NEWMAN ROAD RACINE WI 53406 391941702 AUTOMOBILE LEASING SALES AND SERVICE WI EDUCATORS CREDIT UNION C 16999 9930756 1.00000 1 1 0 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1