2012-11-14T12:10:42-06:00 2011-12-31 420714325 MCGLADREY LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2011-01-01 390906277 SUPERIOR CHOICE CREDIT UNION SUPE 8005694167 2817 TOWER AVENUE PO BOX 127 SUPERIOR WI 548800127 GARY ELLIOTT 8005694167 2012-11-13 1 GERALD B KISSELL P00092658 6123324300 2012-11-13 2011 2016-03-07 17:11:31Z GARY ELLIOTT 2817 TOWER AVENUE PO BOX 127 SUPERIOR WI 548800127 23932792 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 87 9 24038 0 0 0 12706050 11968488 788971 794383 0 40315 13495021 12803186 0 0 0 1197533 3724674 3840505 0 0 0 7648745 5282334 11373419 10320372 2121602 2482814 188271953 195976774 171890707 177779016 16381246 18197758 SUPERIOR CHOICE CREDIT UNION IS A NONPROFIT MEMBER-OWNED THRIFT INSTITUTION ORGANIZED TO PROVIDE FINANCIAL SERVICES TO INDIVIDUALS. 0 0 THE CREDIT UNION HOLDS DEPOSITS THROUGH VARIOUS TYPES OF ACCOUNTS INCLUDING MEMBERSHIP SAVINGS, CHRISTMAS CLUB, SHARE CERTIFICATE, PREMIER MONEY MARKET, IRA SAVINGS/CERTIFICATES, MARKET CHOICE SAVINGS, AND HEALTH SAVINGS ACCOUNTS; AND FOR MAKING LOANS THROUGH CONSUMER, MORTGAGE, COMMERCIAL, AND CREDIT CARD CHANNELS. THE CREDIT UNION PROVIDES COURTESY PAY AND OVERDRAFT PROTECTION TO MEMBERS. THE CREDIT UNION ALSO OFFERS A VARIETY OF OTHER FINANCIAL SERVICES. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 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 0 0 1 13898 0 1 87 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 2817 TOWER AVENUE SUPERIOR WI 54880 WILIAM ANDERSON 1.00 X X 1200 0 0 JAMES LARSON 1.00 X X 1200 0 0 TIM LEE 1.00 X X 1200 0 0 RON PEARSON 1.00 X X 1000 0 0 MARK CASPER 1.00 X X 1200 0 0 LYNDA HOFFMAN 1.00 X X 1200 0 0 ERNIE KORPELA 1.00 X X 1200 0 0 ED GALLAGHER 1.00 X 0 0 0 CHRIS GAY 1.00 X 0 0 0 GARY ELLIOTT 40.00 X 181478 0 46610 PETER KOSKINEN 40.00 X 85015 0 13122 274693 0 59732 1 0 1 0 CU ANSWERS 6000 28 ST SE STE 100 GRAND RAPIDS MI 49546 DATA PROCESSING 383368 FIRST DATA CORP 1100 CARR RD WILMINGTON DE 19809 DATA PROCESSING 299041 SECURITY HEALTH PLAN 1515 SAINT JOSEPH AVE MARSHFIELD WI 54449 HEALTH CARE 251760 VANITIV 4455 LBJ FREEWAY DALLAS TX 75244 DATA PROCESSING 150696 CORPORATE CENTRAL CREDIT UNION 6262 SOUTH LOWELL PLACE MUSKEO WI 53150 CORPORATE BANKING 135094 5 INTEREST ON LOANS 522100 9025538 9025538 OTHER REVENUE 522100 1490976 1490976 SERVICE CHARGES AND OT 522100 1451974 1427936 24038 11968488 433314 433314 51283 10968 40315 40315 40315 11479707 11020312 98326 459395 -98326 361069 361069 12803186 11944450 24038 834698 1197533 334425 2679821 342753 262268 221238 76933 28135 304010 260475 1071883 291624 130246 10648 535103 432982 PROVISION FOR LOAN LOSS 1396000 LOAN SERVICING EXPENSE 438901 MISC OPERATING EXPENSES 305394 10320372 4297480 4990202 4264143 4495000 663780 643267 151799970 167130417 90298 148532 11398080 6094325 5471601 5303755 15602123 4888189 6082558 8377412 188271953 195976774 2027325 1465666 395180 539017 207355 1000000 169260847 174774333 171890707 177779016 X 0 0 0 0 16381246 18197758 16381246 18197758 188271953 195976774 X 2482814 -666302 X 0 1 1 X 0 0 1 1037530 1037530 5376446 2003831 3372615 173895 171330 2565 4789527 3919164 870363 20682 20682 5303755 MEMBER SHARES 174774333 174774333 12803186 10320372 2482814 -666302 -666302 1816512 12912480 0 12912480 -109294 -109294 12803186 10429666 109294 109294 10320372 0 10320372 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. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE CREDIT UNION BELIEVES THAT ITS INCOME TAX FILINGS 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 XII, LINE 4B - OTHER ADJUSTMENTS: LOSS ON SALE OF ASSETS RECLASSED FROM EXPENSES -98,326. RENTAL EXPENSES RECLASSED FROM EXPENSES -10,968. PART XIII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON SALE OF ASSETS RECLASSED FROM EXPENSES 98,326. RENTAL EXPENSES RECLASSED FROM EXPENSES 10,968. X 1 1 X X X X X 0 0 0 GARY ELLIOTT 158552 0 18784 0 4142 0 35417 0 11193 0 228088 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. 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 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 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 CONTROLLER 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 AND POLICIES OF THE CREDIT UNION ARE AVAILABLE UPON WRITTEN REQUEST. FINANCIAL INFORMATION IS POSTED IN THE LOBBY EACH MONTH AND IS ALSO AVAILABLE UPON WRITTEN REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -666,302. NORTHLAND BENEFITS INC 2817 TOWER AVENUE SUPERIOR WI 54880 320258695 OTHER - BENEFITS PLUS MEMBERSHIP WI SUPERIOR CHOICE CREDIT UNION C 830 40 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0