2012-05-15T07:04:40-05:00 2011-12-31 390758449 WIPFLI LLP 7601 FRANCE AVENUE SOUTH SUITE 400 MINNEAPOLIS MN 55435 990 2011-01-01 390555293 EDUCATORS CREDIT UNION EDUC 2628865900 1400 N NEWMAN ROAD RACINE WI 53406 EUGENE SZYMCZAK 2628865900 2012-05-14 1 RICHARD RUVELSON P00234075 9525483400 2012-05-14 2011 2016-02-24 21:20:13Z EUGENE SZYMCZAK 1400 N NEWMAN ROAD RACINE WI 53406 68992355 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 0 372 20 65178 -51123 0 0 64464555 67145099 969955 675814 0 0 65434510 67820913 0 0 0 0 13392809 14140103 0 0 0 44297542 44986071 57690351 59126174 7744159 8694739 1284080050 1318725437 1160026152 1185624637 124053898 133100800 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 $1,054,679,491 SAVING - PROVIDED SAVING, CHECKING, CDS, IRAS AND MONEY MARKET ACCOUNTS WITH BALANCES OF $1,167,547,273 WE HAVE OVER 104,000 MEMBERS AND FOCUS ON EDUCATING THEM IN OUR BRANCHES AS WELL AS THROUGH COMMUNITY ACTIVITIES. 0 0 0 0 1 0 0 0 1 1 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 69430 0 372 1 1 1 0 0 0 0 0 0 0 X 9 0 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 1250 0 0 BRAD ZAUTCKE 1.00 X X 1500 0 0 CHERYL KOTHE 1.00 X X 1450 0 0 DAVE HOLLE 1.00 X X 850 0 0 KRISTINE DIENER 1.00 X 1800 0 0 MARY ANN SMITH 1.00 X 1800 0 0 MARY LEUNEBURG 1.00 X X 2900 0 0 PAUL PELZEK 1.00 X 2050 0 0 MILTON DOCKERY 1.00 X 450 0 0 JANET DAYS 1.00 X 900 0 0 CLARENCE ALLEN 1.00 X 4000 0 0 EUGENE SZYMCZAK 40.00 X 353830 0 29682 JAMES HENDERSON 40.00 X 147184 0 21131 JAMES HOOPER 40.00 X 100212 0 20804 LINDA HOOVER 40.00 X 121426 0 11469 ROBERT STEPIEN 40.00 X 124698 0 4683 ROBERT WALLESER 40.00 X 136190 0 23958 1002490 0 111727 6 0 1 0 BUKACEK CONSTRUCTION 2429 SUMMIT AVENUE RACINE WI 54304 BUILDING CONTRACTOR 825175 INFOIMAGE 141 JEFFERSON DRIVE MENLO PARK CA 94025 STATEMENT PROCESSOR 338371 EFUNDS CORP 16363 WEST RYERSON RD NEW BERLIN WI 53151 ATM & DEBIT CARD SERVICER 264436 D&D CLEANING 932 INDIANA ST RACINE JWI RACINE WI 54304 OFFICE CLEANING 235775 LOOMIS 670 OAKTON ST PALATINE IL 60563 ARMORED SERVICE 217619 13 INTEREST ON LOANS 522100 51850402 51850402 MEMBER SERVICE FEES 522100 6490768 6429033 61735 CREDIT CARD INTERCHANG 522100 4804484 4804484 NCUA STABILIZATION 522100 1523232 1523232 LOAN SERVICE FEES 522100 1491309 1491309 984904 981461 3443 67145099 1175698 1175698 80939 590619 76191 1095251 4748 -504632 -499884 -499884 67820913 66580037 65178 1175698 X 1114216 9689175 1025816 1438090 872806 158581 3565 1540305 4048795 121083 2871375 383244 2906980 204553 DIVIDENDS PAID 11815694 PROVISION FOR LOAN LOSS 10419129 ASSESSMENT EXPENSE 2912381 OTHER EXPENSES 1610527 5989859 59126174 15490605 68248163 171152857 72447772 1005916247 1042269953 945221 862631 61270922 24016251 37994289 37254671 30888839 75097091 21691992 22545156 1284080050 1318725437 2493431 2569263 1157532721 1183055374 1160026152 1185624637 X 0 0 0 0 124053898 133100800 124053898 133100800 1284080050 1318725437 X 8694739 352163 X X 0 1 1 X 0 1 1.00 1 0 10.00 5899288 5899288 31201297 6516425 24684872 483858 359129 124729 23686479 17140697 6545782 37254671 GOVERNMENT AGENCY BONDS 3112852 F INVESTMENTS 71297291 F BONDS 686948 F 75097091 MEMBERS' SHARE AND SAVINGS ACCOUNTS 1167547271 OUTSTANDING DRAFTS PAYABLE 8315756 OTHER LIABILITIES 7192347 1183055374 X X 1 1 X X X X 0 1 0 EUGENE SZYMCZAK 319132 0 18965 0 15733 0 23856 0 5826 0 383512 0 0 0 JAMES HENDERSON 130075 0 8053 0 9056 0 15662 0 5469 0 168315 0 0 0 ROBERT WALLESER 115570 0 15473 0 5147 0 3557 0 20401 0 160148 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 ENCOURAGE EMPLOYEES, IF THEY BELIEVE A CONFLICT OF INTEREST EXISTS, TO DISCUSS THE SITUATION WITH THEIR MANAGER, HUMAN RESOURCES, INTERNAL AUDIT, OR OUR ANONYMOUS FRAUD HOTLINE. IF THERE IS A SUSPICION OF A CONFLICT OF INTEREST OR IF ONE IS REPORTED, THE SITUATION IS INVESTIGATED AND ADDRESSED AS NECESSARY. ADDITINALLY, EMPLOYEE AND BOARD MEMBER'S ACCOUNTS ARE PERIODICALLY REVIEWED FOR ANY IRREGULARITIES THAT WOULD POINT TO A VIOLATION OF THE POLICY. AGAIN, IF WARRANTED, FURTHER INVESTIGATION AND ACTION WOULD BE TAKEN. 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. ALL OTHER FUNCTIONAL EXPENSES FORM 990, PART X, LINE 24E DEBIT AND CREDIT CARD EXPENSES: TOTAL EXPENSES 1,576,791. CREDIT CARD REBATE PROGRAM: TOTAL EXPENSES 1,475,727. LOAN SERVICING: TOTAL EXPENSES 1,195,898. BANK SERVICE FEES: TOTAL EXPENSES 987,794. DEBIT AND CREDIT CARD WRITE OFFS: TOTAL EXPENSES 429,986. ATM EXPENSES: TOTAL EXPENSES 323,663. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 387,754. CUSO LOSS -35,591. TOTAL TO FORM 990, PART XI, LINE 5: 352,163. 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 -35591 8278654 1.00000 1 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 EDUCATORS CREDIT UNION FINANCIAL SERVICES INCORPORATE ECU FSI A 120 EDUCATORS CREDIT UNION FINANCIAL SERVICES INCORPORATE ECU FSI R 161900