2011-11-15T12:33:55-06:00 2010-12-31 WIPFLI LLP 7601 FRANCE AVENUE SOUTH SUITE 400 MINNEAPOLIS MN 55435 990 2010-01-01 390555293 EDUCATORS CREDIT UNION EDUC 2628865900 1400 N NEWMAN ROAD RACINE WI 53406 EUGENE SZYMCZAK 2628865900 2011-11-09 1 RICHARD RUVELSON 9525483400 2010 2016-03-07 17:11:31Z EUGENE SZYMCZAK 1400 N NEWMAN ROAD RACINE WI 53406 65713876 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 0 356 20 81590 -28099 0 0 68658711 64464555 1383417 969955 0 0 70042128 65434510 0 0 0 0 12583234 13392809 0 0 0 44412411 44297542 56995645 57690351 13046483 7744159 1170508911 1284080050 1054371606 1160026152 116137305 124053898 X 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 1 LENDING - PROVIDED NON COMMERCIAL LOANS, MORTGAGES AND LEASES WITH BALANCES OF $1,005,916,245 SAVING - PROVIDED SAVING, CHECKING, CDS, IRAS AND MONEY MARKET ACCOUNTS WITH BALANCES OF $1,140,630,336 WE HAVE OVER 98,000 MEMBERS AND FOCUS ON EDUCATING THEM IN OUR BRANCHES AS WELL AS THROUGH COMMUNITY ACTIVITIES. 0 0 0 0 1 0 0 0 1 0 0 0 1 0 0 0 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 65338 0 356 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 1650 0 0 BRAD ZAUTCKE 1.00 X X 1650 0 0 CHERYL KOTHE 1.00 X X 1625 0 0 DAVE HOLLE 1.00 X X 2100 0 0 JANET DAYS 1.00 X 1000 0 0 KRISTINE DIENER 1.00 X X 2350 0 0 MARY ANN SMITH 1.00 X 1850 0 0 MARY LEUNEBURG 1.00 X 2400 0 0 MILTON DOCKERY 1.00 X 300 0 0 PAUL PELZEK 1.00 X 1900 0 0 EUGENE SZYMCZAK 40.00 X 340537 0 26815 JAMES HENDERSON 40.00 X 146315 0 11972 LINDA HOOVER 40.00 X 116841 0 5844 ROBERT STEPIEN 40.00 X 119821 0 4557 ROBERT WALLESER 40.00 X 124215 0 15105 DIANE HENDERSON 40.00 X 108123 0 20385 972677 0 84678 6 0 1 0 BUKACEK CONSTRUCTION 2429 SUMMIT AVENUE RACINE WI 54304 BUILDING CONTRACTOR 569692 M&M OFFICE INTERIORS INC W233N2833 ROUNDY CIRCLE W PEWAUKEE WI 53072 OFICE FURNITURE, DESIGN AND MOVES 289837 EFUNDS CORP 16363 WEST RYERSON RD NEW BERLIN WI 53151 ATM & DEBIT CARD SERVICER 274937 INFOIMAGE 141 JEFFERSON DRIVE MENLO PARK CA 94025 STATEMENT PROCESSOR 256800 MICRODYNAMICS GROUP 1400 SHORE ROAD NAPERVILLE IL 60563 STATEMENT PROCESSOR 241971 11 INTEREST ON LOANS 522100 50779435 50779435 MEMBER SERVICE FEES 522100 7440108 7440108 CREDIT CARD INTERCHANG 522100 4165122 4165122 LOAN SERVICE FEES 522100 1104543 1104543 INVESTMENT COMMISSIONS 522100 302698 302698 672649 591059 81590 64464555 1009454 1009454 239867 279366 -39499 -39499 -39499 65434510 64343466 81590 1009454 928848 9360252 1114835 1160191 828683 262810 -1074 1386074 3385975 185398 2281136 207829 2874385 199154 DIVIDENDS PAID 16253579 PROVISION FOR LOAN LOSS 5773445 DEBIT AND CREDIT CARD 3380489 SHARE INSURANCE STABILI 2451714 MEMBER INSURANCE 1846654 3809974 57690351 14010004 15490605 117458319 171152857 957808090 1005916247 724339 945221 60666121 22671832 37425212 37994289 26011843 30888839 17071104 21691992 1170508911 1284080050 1731955 2493431 1052639651 1157532721 1054371606 1160026152 X 0 0 0 0 116137305 124053898 116137305 124053898 1170508911 1284080050 X 7744159 172434 X X 0 1 1 X 0 1 1.00 1 0 10.00 5899288 5899288 30754789 5743699 25011090 590459 348683 241776 23421585 16579450 6842135 37994289 MEMBERS' SHARE AND SAVINGS ACCOUNTS 1140630336 OUTSTANDING DRAFTS PAYABLE 7494397 OTHER LIABILITIES 9407988 1157532721 65434510 57690351 7744159 228812 -56378 172434 7916593 PART XI, LINE 8 - OTHER ADJUSTMENTS: CUSO LOSS -56,378. X X 1 1 X X X X 0 1 0 EUGENE SZYMCZAK 307866 0 18235 0 14436 0 0 0 26815 0 367352 0 0 0 JAMES HENDERSON 130702 0 7742 0 7871 0 0 0 11972 0 158287 0 0 0 PART I, LINE 4B EUGENE SZYMCZAK - $14,040 JAMES HENDERSON - $4,400 DIANE HENDERSON - $16,120 CHANGES IN PROGRAM SERVICES FORM 990, PART III, LINE 3 OUR AUTO & LEASE DEPARTMENT PREVIOUSLY CONDUCTED RETAIL SALES AND NOW ONLY DOES LEASES, DEALER REFERRALS AND CONSULTATIONS FOR OUR MEMBERS. 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. 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 V.P OF HUMAN RESOURCES. THE FORM 990 IS REVIEWED BY THE CFO, AUDIT MANAGER, AND BOARD OF DIRECTORS. 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 228,812. CUSO LOSS -56,378. TOTAL TO FORM 990, PART XI, LINE 5: 172,434. 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 0 490000 N/A EDUCATORS CREDIT UNION-IVANHOE PLACE REAL ESTATE LLC 1400 N NEWMAN ROAD RACINE WI 53406 REAL ESTATE WI 0 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 -56378 7671764 1.00000 1 1 0 1 0 0 0 0 1 0 0 0 1 1 0 1 0 1 EDUCATORS CREDIT UNION FINANCIAL SERVICES INCORPORATE ECU FSI I 38500 EDUCATORS CREDIT UNION FINANCIAL SERVICES INCORPORATE ECU FSI A 23057 EDUCATORS CREDIT UNION FINANCIAL SERVICES INCORPORATE ECU FSI R 113183