2011-05-12T09:01:53-05:00 2010-06-30 RSM McGladrey Inc 801 Nicollet Mall Suite 1100 Minneapolis MN 55402 990 2009-10-01 396043434 State Central Credit Union STAT 4147781000 10015 W Greenfield Avenue Milwaukee WI 53214 keith peterson 4147781000 2011-05-11 1 Collin F Buzzell 6125738750 2009 2016-02-24 21:20:13Z X JAMES CORAGGIO 10015 W Greenfield Avenue Milwaukee WI 53214 3453997 0 X www.statecentral.com X 1947 WI A MEMBER OWNED, NOT-FOR-PROFIT, COOPERATIVE FINANCIAL INSTITUTION 5 0 59 0 9970 -641 0 2462647 3307733 328797 -169019 3277041 0 6068485 3138714 0 5510964 2512009 3845750 0 0 2871773 2784878 5383782 12141592 684703 -9002878 72180674 0 58524543 0 13656131 0 THE CREDIT UNION STRIVES TO IMPROVE THE FINANCIAL POSITION OF IT'S MEMBERS BY PROVIDING HIGH QUALITY FINANCIAL SERVICES AT REASONABLE PRICES. 0 0 PROVIDED FINANCIAL SERVICES TO 7,314 MEMBERS. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 6218 0 1 59 1 1 1 0 0 0 0 5 0 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 0 1 0 0 0 X keith peterson 6082435000 PO BOX 8046 MADISON WI 537088046 Richard Ludwig 2.00 X X 20000 0 0 Gregory Naples 2.00 X X 20000 0 0 John Haun 2.00 X X 20000 0 0 Thomas Asmussen 2.00 X X 20000 0 0 James Coraggio 40.00 X X 612877 0 15437 Dana Peters 40.00 X 269617 0 11024 David Bieneman 40.00 X 221096 0 21464 Terrance McQuade 40.00 X 185115 0 18128 ROBERT HAAGENSEN 40.00 X 189110 0 16654 1557815 0 82707 5 0 1 0 0 interest on loans 522100 1471037 1471037 loan fees 522100 830892 830892 other fee income 522100 818267 808297 9970 interchange income 522100 173356 173356 insurance sales income 522100 14181 14181 3307733 146264 146264 315283 -315283 -315283 -315283 3138714 3297763 9970 -169019 5510964 1231515 2049506 344372 220357 31124 26027 68189 151257 1090867 247897 52046 192829 61672 PROVISION FOR LOAN LOSS 368647 OTHER OPERATING EXPENSE 348191 ncusif stabilization 73229 LOAN SERVICING 71832 income tax expense 1071 12141592 10083715 42268353 139937 1442664 16141202 2104803 72180674 0 395803 3880526 54248214 0 58524543 0 X 0 0 0 0 13656131 0 13656131 0 72180674 0 X 0 0 0 0 0 0 X X X 1 0 0 James Coraggio 105127 0 141590 0 366160 0 6659 0 8778 0 628314 0 0 0 Dana Peters 71729 0 22888 0 175000 0 3867 0 7157 0 280641 0 0 0 David Bieneman 53794 0 18052 0 149250 0 3490 0 17974 0 242560 0 0 0 Terrance McQuade 32600 0 39134 0 113381 0 4640 0 13488 0 203243 0 0 0 ROBERT HAAGENSEN 48495 0 20740 0 119875 0 3119 0 13535 0 205764 0 0 0 Part I, Line 4a THE FOLLOWING RECEIVED A SEVERANCE PAYMENT: JAMES CORRAGIO, CEO - $400,660 DAVID BIENEMAN, CFO - $164,250 DANA PETERS, EVP - $194,500 TERRENCE MCQUADE, DIRECTOR OF MTG LENDING - $130,350 ROBERT HAAGENSEN, DIRECTOR OF CONSUMER LENDING - $137,875 LOANS (NET) 2010-06-30 36438761 POOLING ACCOUNTING 390230585 SUMMIT CREDIT UNION PO BOX 8046 MADISON WI 537088046 501(C)(14) ACCOUNTS RECEIVABLE 2010-06-30 1742517 POOLING ACCOUNTING 390230585 SUMMIT CREDIT UNION PO BOX 8046 MADISON WI 537088046 501(C)(14) CASH/CASH EQUIVALENTS 2010-06-30 819958 POOLING ACCOUNTING 390230585 SUMMIT CREDIT UNION PO BOX 8046 MADISON WI 537088046 501(C)(14) INVESTMENTS 2010-06-30 28996590 POOLING ACCOUNTING 390230585 SUMMIT CREDIT UNION PO BOX 8046 MADISON WI 537088046 501(C)(14) LAND/OFFICE BUILDINGS/IMPROVEMENTS 2010-06-30 700000 POOLING ACCOUNTING 390230585 SUMMIT CREDIT UNION PO BOX 8046 MADISON WI 537088046 501(C)(14) FURNITURE & FIXTURES/COMPUTER EQUIPMENT 2010-06-30 40870 POOLING ACCOUNTING 390230585 SUMMIT CREDIT UNION PO BOX 8046 MADISON WI 537088046 501(C)(14) ACCRUED INCOME 2010-06-30 145426 POOLING ACCOUNTING 390230585 SUMMIT CREDIT UNION PO BOX 8046 MADISON WI 537088046 501(C)(14) PREPAID EXPENSES 2010-06-30 28814 POOLING ACCOUNTING 390230585 SUMMIT CREDIT UNION PO BOX 8046 MADISON WI 537088046 501(C)(14) ANNUITY 457 PLAN 2010-06-30 87310 POOLING ACCOUNTING 390230585 SUMMIT CREDIT UNION PO BOX 8046 MADISON WI 537088046 501(C)(14) 0 1 0 1 1 0 1 1 1 0 0 Part I, Line 2e: DANA PETERS Part I, Line 2e: DANA PETERS REMAINED EMPLOYED BY SUMMIT CREDIT UNION UNTIL SEPTEMBER 2010. HER ROLE DURING THIS TIME WAS TO LEAD STATE CENTRAL EMPLOYEES THROUGH THEIR MERGER ACTIVITIES. SHE RECEIVED HER STANDARD COMPENSATION UNTIL HER DEPARTURE IN SEPTEMBER. 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 VP-RISK MANAGEMENT AND CFO PRIOR TO FILING WITH THE IRS. IF THERE IS UNCERTAINTY REGARDING A RESPONSE THEY WILL CONSULT THE APPROPRIATE SUBJECT MATTER EXPERT. Form 990, Part VI, Section B, line 12c THE BOARD OF DIRECTORS SET THE CONFLICT OF INTEREST POLICY. MANAGEMENT ENFORCES AND MONITORS COMPLIANCE WIHT POLICY AND REPORTS ANY VARIANCES TO THE BOARD ON A MONTHLY BASIS. THE CHAIRMAN OF THE BOARD AND THE PRESIDENT MEET TO DETERMINE COMPENSATION FOR KEY EMPLOYEES. Form 990, Part VI, Section C, line 19 FINANCIAL STATEMENTS ARE PROVIDED TO EACH MEMBER WHO ATTENDS THE ANNUAL MEETING. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO MEMBERS UPON REQUEST.