2012-11-15T08:30:28-06:00 2011-12-31 390758449 WIPFLI LLP PO BOX 8010 WAUSAU WI 544028010 990 2011-01-01 390827305 MARINE CREDIT UNION MARI 6087911543 811 MONITOR STREET LA CROSSE WI 54601 GARLAND KOCH 6087911543 2012-11-14 1 MARY A COATES CPA P00134220 7158453111 2012-11-14 2011 2016-02-24 21:20:13Z X SHAWN HANSON 811 MONITOR STREET LA CROSSE WI 54601 38656718 0 2157 X WWW.MARINECU.COM X 1949 WI WE WILL SERVE MORE OF THE UNDERSERVED WITH PRODUCTS, SERVICE, TIME AND GIVING. WE WILL INCREASE THE NUMBER AND PERCENTAGE OF CUSTOMERS AVAILING THEMSELVES OF A VARIETY OF HIGH QUALITY SERVICES. 7 6 329 6 2362732 -96619 0 0 37753563 36094772 203710 -292761 -1035898 145272 36921375 35947283 0 0 0 0 14534897 13501991 0 0 0 27024796 18572157 41559693 32074148 -4638318 3873135 414191029 425964974 383952448 391948100 30238581 34016874 WE WILL SERVE MORE OF THE UNDERSERVED WITH PRODUCTS, SERVICE, TIME AND GIVING. WE WILL INCREASE THE NUMBER AND PERCENTAGE OF CUSTOMERS AVAILING THEMSELVES OF A VARIETY OF HIGH QUALITY SERVICES. 0 0 DEPOSIT TAKING - MARINE CREDIT UNION ACTS AS A FINANCIAL INTERMEDIARY IN EACH OF THE COMMUNITIES IT SERVES. EACH OF OUR 57,432 MEMBERS HAS AT LEAST ONE SAVINGS ACCOUNT AND THESE MEMBERS HAVE OVER 29,000 CHECKING ACCOUNTS WITH MARINE. WE OFTEN PROVIDE THESE SERVICES AT A LOWER COST THAN WHAT WOULD OTHERWISE BE AVAILABLE. WE PROTECT OVER $361 MILLION OF INSURED FUNDS ON BEHALF OF OUR DEPOSITORS. CONSUMER LENDING - MARINE CREDIT UNION IS A FULL SERVICE CONSUMER LENDING INSTITUTION. IN 2011 WE GRANTED OVER 6,800 CONSUMER LOANS FOR A TOTAL OF OVER $41 MILLION. THESE LOANS ARE USED BY OUR BORROWERS TO CONSOLIDATE DEBT, PURCHASE GOODS SUCH AS AUTOMOBILES AND RECREATIONAL VEHICLES AND TO FINANCE CONTINUING EDUCATION EXPENSES. THE TOTAL CONSUMER LOAN PORTFOLIO IS GREATER THAN $162 MILLION. MORTGAGE LENDING - MARINE CREDIT UNION IS AN INTEGRAL PART OF THE COMMUNITIES WE SERVE BY PROVIDING OVER 600 LOANS TOTALING OVER $38 MILLION. THESE LOANS ARE USED BY BORROWERS TO PURCHASE, REFINANCE OR IMPROVE THEIR HOMES. CURRENT MORTGAGE LOANS OUTSTANDING EXCEED $205 MILLION. 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 1 0 0 1 14234 0 329 1 1 1 0 0 0 0 0 0 0 X 7 6 0 0 0 0 1 1 1 1 1 0 0 0 1 1 0 1 1 1 1 0 X GARLAND KOCH 6087911543 811 MONITOR STREET LACROSSE WI 54601 ROBERT CARNEY 1.00 X X 7385 0 0 WILLIAM SACIA 1.00 X X 0 0 0 DIANNE MORRISSON 1.00 X X 0 0 0 BARBARA MUSSMAN 1.00 X X 0 0 0 STEVE ROSS 1.00 X 0 0 0 RICHARD SWANTZ 1.00 X 0 0 0 TERRY WITZKE 1.00 X 0 0 0 SHAWN HANSON 40.00 X 251818 0 29090 GARLAND KOCH 40.00 X 161778 0 8623 BRAD NOEL 40.00 X 181208 0 22833 JOHN RAUSHENBERGER 40.00 X 129088 0 12027 WILLIAM SCHIRMER 40.00 X 123839 0 25067 JOHN GARTEN 40.00 X 143657 0 36533 ERIK BEACH 40.00 X 125331 0 21913 CHARLES SNYDER 40.00 X 115966 0 25216 1240070 0 181302 7 0 1 0 CARLO DIGIUSTO 134 RIDINGS WAY LANCASTER PA 17601 CONSULTING 563705 PAUL LARVEY 10 STARLING AVE KINGSTON MA 02364 CONSULTING 404713 FISERV 75 REMITTANCE DR STE 6959 CHICAGO IL 606866969 MAINTENANCE ON CUBE & PROLOGUE 322374 TATUM PO BOX 84872 DALLAS TX 752847872 CONSULTING 308023 WIPFLI PO BOX 3160 MILWAUKEE WI 532013160 AUDITING 235755 5 INTEREST ON LOANS 522100 24205114 24205114 SERVICE FEES AND OTHER 522100 7251572 4807368 2444204 LOAN SERVICE FEE INCOM 522100 3900354 3900354 COMMISSION INCOME 522100 567004 567004 OTHER INCOME 522100 170728 252200 -81472 36094772 165308 165308 145272 0 145272 145272 145272 2251366 2709435 -458069 -458069 -458069 35947283 33419243 2362732 165308 458693 10876938 20420 1174456 971484 467159 362867 2686256 241058 731551 739948 1277886 100279 21617 298005 1570913 1006605 DIVIDENDS ON MEMBER ACC 2996313 LOAN LOSS PROVISION 2606167 LOAN SERVICING/PROCESSI 2015293 ATM/DEBIT CARD/INTERCHA 1328887 121353 32074148 6115414 5039765 23622434 41422715 342571363 319028956 1285891 626634 29368947 12425749 18677032 16943198 370784 20683470 21548111 22220236 414191029 425964974 7763258 12536550 35781471 6662388 340407719 372749162 383952448 391948100 X 0 0 0 0 30238581 34016874 30238581 34016874 414191029 425964974 X 3873135 -94842 X X 0 1 1 X 0 3275002 3275002 16364441 3868853 12495588 364283 341393 22890 9195051 8085270 1109781 170170 130233 39937 16943198 ACCRUED INTEREST 1719110 MORTGAGE SERVICING RIGHTS 2546009 OTHER ASSETS 8772242 NCUSIF CAPITALIZATION 3689585 INVESTMENT IN CUSO 138586 FHLB CHI 2153452 OTHER REAL ESTATE OWNED 3201252 22220236 SHARE DRAFTS 64973705 REGULAR SHARES 82180602 MONEY MARKET SHARES 99261341 SHARE CERTIFICATES 27340005 IRA/KEOGH ACCOUNT 98993509 372749162 X X X 1 1 X X X X 0 0 0 SHAWN HANSON 237458 0 0 0 14360 0 3278 0 25812 0 280908 0 0 0 GARLAND KOCH 146332 0 2400 0 13046 0 6044 0 2579 0 170401 0 0 0 BRAD NOEL 166171 0 8000 0 7037 0 3754 0 19079 0 204041 0 0 0 JOHN GARTEN 136862 0 0 0 6795 0 3662 0 32871 0 180190 0 0 0 PART I, LINE 1A TEMPORARY, TAXABLE HOUSING ALLOWANCES WERE PROVIDED TO NEW MANAGEMENT PERSONNEL RECRUITED FROM OUTSIDE THE LA CROSSE AREA. SHAWN L HANSON DEFERRED COMPENSATION PROGRAM TO PROMOTE EMPLOYEE RETENTION X 3400000 3400000 0 1 1 3400000 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 THE MEMBERS WOULD NEED TO APPROVE DECISIONS SUCH AS CHANGE OF NAME OR A MERGER DECISION. FORM 990, PART VI, SECTION B, LINE 11 AN INITIAL REVIEW OF THE 990 IS PERFORMED BY THE CFO. ANY REVISIONS THAT NEED TO BE MADE ARE COMPLETED AND THE REVISED 990 IS PRESENTED TO THE CEO PRIOR TO THE REPORT BEING FILED. FORM 990, PART VI, SECTION B, LINE 15 CEO: THE BOARD OF DIRECTORS APPROVES COMPENSATION AS RECOMMENDED BY THE COMPENSATION COMMITTEE. BASE COMPENSATION IS TARGETED TO THAT OF PEER FINANCIAL INSTITUTIONS OF SIMILAR SIZE AND COMPLEXITY. INCENTIVE PAY AND BASE PAY INCREASES OR DECREASES ARE DRIVEN BY THE PERFORMANCE OF THE EXECUTIVE VERSUS PRE-DETERMINED GOALS AND OBJECTIVES WHICH ARE ALIGNED WITH THE MISSION AND STRATEGY OF THE ORGANIZATION. THE CEO IS GIVEN QUARTERLY AND ANNUAL PERFORMANCE EVALUATIONS WHICH FACTOR INTO COMPENSATION DISCUSSIONS. OTHER OFFICERS AND KEY EMPLOYEES: BASE COMPENSATION IS DRIVEN BY MARKETPLACE TRENDS AND OTHER COMPETITIVE FACTORS. INCENTIVE PAY AND BASE PAY INCREASES ARE DRIVEN BY THE PERFORMANCE OF EACH EMPLOYEE VERSUS PRE-DETERMINED GOALS AND OBJECTIVES WHICH ARE ALIGNED WITH THE MISSION AND STRATEGY OF THE ORGANIZATION. ALL EMPLOYEES ARE EVALUATED AGAINST OBJECTIVE AND SUBJECTIVE CRITERIA ON A MONTHLY AND ANNUAL BASIS. FORM 990, PART VI, SECTION C, LINE 19 BYLAWS ARE AVAILABLE UPON REQUEST AND ANNUAL FINANCIAL STATEMENTS ARE POSTED ON THE ORGANIZATION'S WEBSITE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -118,685. PRIOR PERIOD ADJUSTMENTS: 23,843. TOTAL TO FORM 990, PART XI, LINE 5: -94,842. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. ADVANTAGE FINANCIAL SERVICES LLC 127 WEST AVE N LA CROSSE WI 54601 800018187 HOLDING COMPANY WI 246766 5842113 MARINE CREDIT UNION CONSUMER LOAN SERVICES LLC 811 MONITOR STREET LA CROSSE WI 54601 270191461 MORTGAGE UNDERWRITING AND SERVICING WI 375600 12751989 ADVANTAGE FINANCIAL SERVICES MARINE INSURANCE SERVICES 811 MONITOR ST LA CROSSE WI 54603 263295091 INSURANCE AGENCY WI ADVANTAGE FINANCIAL SERVICES UNRELATED -132791 197027 0 81472 1 0.95000 ADVISORS MANAGEMENT GROUP INC 505 KING ST SUITE 208 LACROSSE WI 54601 411619602 FINANCIAL PLANNING AND PORTFOLIO MANAGEMENT WI N/A C 21471 330563 0.42500 1 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 0 0 MARINE INSURANCE SERVICES A 14400 FMV