2026-05-04T11:18:25-05:00 2025-12-31 410746749 CLIFTONLARSONALLEN LLP 311 FINANCIAL WAY SUITE 100 WAUSAU WI 54401 990 2025-01-01 363679911 ABBOTT LABORATORIES EMPLOYEES CREDIT UNION (ALEC) ABBO 8472499431 325 TRI-STATE PARKWAY GURNEE IL 60031 JOSEPH TROSCLAIR PRESIDENT 8472499431 2026-05-01 1 ANGELICA KRAUTKRAMER P02005570 7156752351 2026-05-01 2025 2025-03-06 01:10:19Z JOSEPH TROSCLAIR 325 TRI-STATE PARKWAY GURNEE IL 60031 55576042 0 X WWW.ALECU.ORG X 1990 IL TO MAKE A DIFFERENCE IN THE LIVES AND FINANCIAL WELL-BEING OF OUR MEMBERS AND EMPLOYEES. 9 8 146 11 92561 42994 0 0 33336136 36314781 18524433 16332591 315054 443236 52175623 53090608 24685 13144 19604972 21179474 11339141 12097804 0 0 0 9945141 10025311 40913939 43315733 11261684 9774875 1037809507 1115962653 908912689 969009573 128896818 146953080 X TO MAKE A DIFFERENCE IN THE LIVES AND FINANCIAL WELL-BEING OF OUR MEMBERS AND EMPLOYEES. OUR COMMITMENT IS (1) TO GAIN OUR MEMBERS TRUST BY PROVIDING EXCEPTIONAL MEMBER SERVICE (2) TO OFFER A WIDE ARRAY OF FINANCIAL PRODUCTS, SERVICES AND DELIVERY CHANNELS (3) TO EDUCATE OUR MEMBERS IN ALIGNMENT WITH THEIR FINANCIAL GOALS (4) TO RECOGNIZE THE PERFORMANCE, ACHIEVEMENT AND PERSONAL DEVELOPMENT OF OUR EMPLOYEES (5) TO PROTECT OUR MEMBERS' DATA AND PRIVACY (6) TO CONDUCT BUSINESS WITH THE HIGHEST STANDARDS OF ETHICS, INTEGRITY AND HONESTY. 0 0 TO PROVIDE COMPETITIVE LOANS, MARKET DEPOSIT RATES, AND EFFICIENT CHECKING SERVICES TO OUR MEMBERSHIP. 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 16803 0 1 146 1 1 1 0 0 0 0 0 0 0 X 9 8 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 0 1 1 1 1 0 X JUN LIM 8472499431 325 TRI-STATE PARKWAY GURNEE IL 60031 JOSEPH TROSCLAIR PRESIDENT 40.00 X X 681226 0 60375 JON BERNDT SENIOR VP, CFO 40.00 X 315201 0 61524 JENNIFER PESTIKAS SENIOR VP, CHIEF EXPERIENCE OFFICER 40.00 X 283546 0 51246 KENNETH KEIFER SENIOR VP, LENDING 40.00 X 259667 0 57686 BRADY VAN HEIRSEELE SENIOR VP, CHIEF OPERATING OFFICER 40.00 X 268484 0 44773 JENNIFER DZBINSKI SENIOR VP, SERVICE & SALES 40.00 X 185380 0 59039 DANIELLE HERBRECHTSMEIER VP OF ADMINISTRATION 40.00 X 184912 0 28302 JEFFREY DEMPSKI VP OF LENDING 40.00 X 154518 0 33527 JASON ROBLESKI DIRECTOR OF MARKETING 40.00 X 143682 0 38063 SACHET KAMIN DIRECTOR OF RISK 40.00 X 154972 0 20359 JORDAN PORTER DIRECTOR OF VIRTUAL SERVICES 40.00 X 139880 0 33138 ADAM SCHMIDT FINANCE MANAGER 40.00 X 126050 0 7379 JAMES WENNER CHAIR 2.00 X X 0 0 0 LAURA KROC VICE CHAIR 2.00 X X 0 0 0 ROBERT REISER TREASURER 2.00 X X 0 0 0 TOLANI ODUTAYO SECRETARY 2.00 X X 0 0 0 CHRISTINE AMANN DIRECTOR 2.00 X 0 0 0 JACQUELINE DIOGUARDI DIRECTOR (UNTIL 5/2025) 2.00 X 0 0 0 LYNNE INMAN DIRECTOR 2.00 X 0 0 0 DOAN NGUYEN DIRECTOR 2.00 X 0 0 0 JIM RHOMBERG DIRECTOR 2.00 X 0 0 0 SARAH SCHMIT VICE CHAIR (UNTIL 6/2025) 2.00 X X 0 0 0 MARK STOFFEL DIRECTOR (UNTIL 6/2025) 2.00 X 0 0 0 2897518 0 495411 22 0 1 0 FISERV PO BOX 934057 ATLANTA GA 31193 BANKING SERVICES 24481269 CARDTRONICS PO BOX 4346 DEPT 364 HOUSTON TX 77210 ATM SERVICES 416181 RILEY CONSTRUCTION COMPANY INC 5301 99TH AVENUE KENOSHA WI 53144 REMODELING SERVICES 344328 MERIDIAN LINK PO BOX 846822 LOS ANGELES CA 90084 LOAN/ACCOUNT ORIGINATIONS 181793 SOFTCHOICE CORPORATION 16609 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 IT SUPPORT 147863 7 LOAN INTEREST 522100 31121742 31121742 FEES AND CHARGES 522100 5193039 5100478 92561 36314781 16205820 16205820 2533240 78965 2485434 0 47806 78965 126771 126771 OTHER INCOME 522100 443236 443236 443236 53090608 36222220 92561 16775827 13144 21179474 2541363 7260442 124552 1536737 634710 92105 156000 5000 515160 503893 1050888 790285 423011 63497 754 816299 139679 UBI TAXES 14533 BANKING FEES 3002087 LOAN SERVICING 1305526 PROVISION FOR LOAN LOSS 812507 334087 43315733 3818247 2852665 83608572 84581343 7405174 8180162 5026151 5105670 584882848 606759802 612367 897637 16546001 4949326 11663581 11596675 313163928 367204333 2618100 2618100 25010539 26166266 1037809507 1115962653 5476724 5655544 903435965 963354029 908912689 969009573 X 0 0 0 0 128896818 146953080 128896818 146953080 1037809507 1115962653 X 9774875 7889868 391519 X 0 1 X 1 0 5000 0 5000 5000 1 CREDIT UNION POLITICAL ACTION COUNCIL 1807 W DIEHL ROAD NAPERVILLE IL 60563 363092340 5000 1809709 1809709 7699066 2328840 5370226 827823 249919 577904 6189464 2370567 3818897 19939 19939 11596675 MEMBERS' SHARE AND SAVINGS ACCOUNT 962209621 DEFERRED COMPENSATION LIABILITY 1144408 963354029 X 53482127 391519 391519 53090608 0 53090608 43315733 0 43315733 0 43315733 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE. TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES, AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES CONSIDERED TO BE UNRELATED TO THE CREDIT UNION'S NONTAXABLE STATUS IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2025 AND 2024. THE CREDIT UNION'S 2022 THROUGH 2024 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF LIFE INSURANCE POLICIES 391,519. 1 CREDIT UNION NATIONAL ASSOCIATION PO BOX 78546 MILWAUKEE WI 53278 237065623 501(C)(6) 12000 0 GENERAL SUPPORT 0 1 PART I, LINE 2: NO FORMAL MONITORING PROCEDURES. X X X X 0 1 0 JOSEPH TROSCLAIR PRESIDENT 530054 0 149224 0 1948 0 41000 0 19375 0 741601 0 0 0 JON BERNDT SENIOR VP, CFO 257497 0 53422 0 4282 0 37645 0 23879 0 376725 0 0 0 JENNIFER PESTIKAS SENIOR VP, CHIEF EXPERIENCE OFFICER 239485 0 43457 0 604 0 21437 0 29809 0 334792 0 0 0 KENNETH KEIFER SENIOR VP, LENDING 210895 0 45933 0 2839 0 33678 0 24008 0 317353 0 0 0 BRADY VAN HEIRSEELE SENIOR VP, CHIEF OPERATING OFFICER 222903 0 45093 0 488 0 15662 0 29111 0 313257 0 0 0 JENNIFER DZBINSKI SENIOR VP, SERVICE & SALES 157194 0 27090 0 1096 0 30089 0 28950 0 244419 0 0 0 DANIELLE HERBRECHTSMEIER VP OF ADMINISTRATION 151922 0 32616 0 374 0 15275 0 13027 0 213214 0 0 0 JEFFREY DEMPSKI VP OF LENDING 133208 0 21043 0 267 0 6647 0 26880 0 188045 0 0 0 JASON ROBLESKI DIRECTOR OF MARKETING 121583 0 21613 0 486 0 6335 0 31728 0 181745 0 0 0 SACHET KAMIN DIRECTOR OF RISK 132922 0 21837 0 213 0 7738 0 12621 0 175331 0 0 0 JORDAN PORTER DIRECTOR OF VIRTUAL SERVICES 119463 0 20299 0 118 0 5552 0 27586 0 173018 0 0 0 PART I, LINE 4B SPLIT DOLLAR LIFE INSURANCE: THE CREDIT UNION HAS GRANTED NONRECOURSE LOANS FOR LIFE INSURANCE PREMIUM PAYMENTS TO SELECT MEMBERS OF SENIOR MANAGEMENT. THESE LOANS ARE COLLATERALIZED BY THE ASSIGNMENT OF THE CASH SURRENDER VALUE OF EACH RESPECTIVE LIFE INSURANCE POLICY. THE POLICIES ARE OWNED BY THE EXECUTIVES AND THE OWNERS HAVE SOLE CONTROL OVER THE LISTED BENEFICIARIES. AT THE TIME OF RETIREMENT, THE LOAN BECOMES DUE AND PAYABLE AND CAN BE PAID WITH THE CASH VALUE OF THE LIFE INSURANCE POLICY, OR WITH OTHER PERSONAL FUNDS AT THE OWNER'S DISCRETION. THE LOANS ARE CONSIDERED NONRECOURSE AND AS SUCH, THE CREDIT UNION HAS RECORDED THE BALANCE AS THE LOWER OF THE OUTSTANDING LOAN BALANCE PLUS ACCRUED INTEREST, OR THE CASH SURRENDER VALUE OF THE LIFE INSURANCE POLICIES. JOSEPH M TROSCLAIR PRESIDENT SPLIT DOLLAR LIFE INSURANCE X 1535728 1437085 0 1 1 BRADY VAN HEIRSEELE SENIOR VICE PRESIDENT, IT/RISK SPLIT DOLLAR LIFE INSURANCE X 122801 121371 0 1 1 KENNETH KIEFER SENIOR VICE PRESIDENT, LENDING SPLIT DOLLAR LIFE INSURANCE X 194435 184595 0 1 1 JOSEPH M TROSCLAIR PRESIDENT SPLIT DOLLAR LIFE INSURANCE X 303591 290758 0 1 1 JOSEPH M TROSCLAIR PRESIDENT SPLIT DOLLAR LIFE INSURANCE X 2346639 2379022 0 1 1 BRADY VAN HEIRSEELE SENIOR VICE PRESIDENT, IT/RISK SPLIT DOLLAR LIFE INSURANCE X 705642 692839 0 1 1 5105670 SCHEDULE L, PART II SPLIT DOLLAR LIFE INSURANCE: THE CREDIT UNION HAS GRANTED NONRECOURSE LOANS FOR LIFE INSURANCE PREMIUM PAYMENTS TO SELECT MEMBERS OF SENIOR MANAGEMENT. THESE LOANS ARE COLLATERALIZED BY THE ASSIGNMENT OF THE CASH SURRENDER VALUE OF EACH RESPECTIVE LIFE INSURANCE POLICY. THE POLICIES ARE OWNED BY THE EXECUTIVES AND THE OWNERS HAVE SOLE CONTROL OVER THE LISTED BENEFICIARIES. AT THE TIME OF RETIREMENT, THE LOAN BECOMES DUE AND PAYABLE AND CAN BE PAID WITH THE CASH VALUE OF THE LIFE INSURANCE POLICY, OR WITH OTHER PERSONAL FUNDS AT THE OWNER'S DISCRETION. THE LOANS ARE CONSIDERED NONRECOURSE AND AS SUCH, THE CREDIT UNION HAS RECORDED THE BALANCE AS THE LOWER OF THE OUTSTANDING LOAN BALANCE PLUS ACCRUED INTEREST, OR THE CASH SURRENDER VALUE OF THE LIFE INSURANCE POLICIES. FORM 990, PART VI, SECTION A, LINE 1A THE BOARD OF DIRECTORS MAY, BY MAJORITY APPROVAL OF THE BOARD, APPOINT AN EXECUTIVE COMMITTEE OF 5 DIRECTORS WHO MAY BE AUTHORIZED TO ACT FOR THE BOARD IN ALL RESPECTS SUBJECT TO SUCH CONDITIONS AND LIMITATIONS AS ARE PRESCRIBED BY THE BOARD. A MAJORITY OF THE EXECUTIVE COMMITTEE SHALL CONSTITUTE A QUORUM. THE EXECUTIVE COMMITTEE SHALL REPORT TO THE BOARD ON ANY MEETINGS HELD AND ANY ACTIONS TAKEN BETWEEN BOARD MEETINGS. THE MEMBERS OF THE EXECUTIVE COMMITTEE CONSIST OF THE BOARD CHAIRPERSON, VICE CHAIRPERSON, SECRETARY, TREASURER AND THE CEO. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. THE CREDIT UNION'S PRIMARY FIELDS OF MEMBERSHIP FOR LENDING AND SAVINGS ACTIVITIES ARE EMPLOYEES, RETIREES, AND THE FAMILY MEMBERS OF ABBOTT LABORATORIES; ABBVIE, INC.; AND THE CREDIT UNION'S EMPLOYEES, RETIREES, AND THEIR FAMILY MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BODY OF THE ORGANIZATION IS ELECTED BY ITS MEMBERS FORM 990, PART VI, SECTION A, LINE 7B ELECTION OF DIRECTORS AND PROPOSALS FOR MERGERS/VOLUNTARY DISSOLUTION IS VOTED ON BY MEMBERS. HOWEVER, MEMBERS MAY VOTE BY PROXY. CHANGES TO THE CORPORATE CHARTER AND BYLAWS REQUIRE APPROVAL OF MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE ORGANIZATION'S INDEPENDENT PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. ONCE A DRAFT IS AVAILABLE, IT IS REVIEWED BY THE CFO BEFORE FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12 THE ORGANIZATIONS CODE OF ETHICS POLICY INCLUDES ITS POSITION ON CONFLICT OF INTEREST. THE CODE OF ETHICS POLICY IS REQUIRED TO BE SIGNED ANNUALLY BY ALL EMPLOYEES. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE CEO IS APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD. THEY OBTAINED SURVEY'S WHICH THEN THE DATA IS COMPARED AT THE POSITION LEVEL, INCLUDING FACTORS SUCH AS THE NUMBER OF SERVICES, NUMBER OF MEMBERS AND NUMBER OF LOANS. COMPENSATION IS BASED ON ANALYSIS OF THIS DATA. THIS INFORMATION IS KEPT IN THE PAYROLL FILE AND THE CEO'S PERSONNEL FILE. REGARDING THE COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES, THE CEO RECOMMENDS CHANGES IN COMPENSATION TO THE COMPENSATION COMMITTEE OF THE BOARD, USING INDIVIDUAL COMPENSATION REPORTS PROVIDED BY ALEC'S INDEPENDENT COMPENSATION CONSULTANT. ONCE APPROVED BY THE COMPENSATION COMMITTEE, THE CEO NOTIFIES HR FOR PAYROLL PURPOSES. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2025. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION MAKES IT GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF LIFE INSURANCE POLICIES 391,519.