2024-05-13T09:59:38-05:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2023-01-01 396264347 COMMUNITY FIRST CREDIT UNION COMM 9208307200 PO BOX 1487 APPLETON WI 54912 CATHERINE J TIERNEY CEO/PRESIDENT 9208307200 2024-05-09 1 CATHERINE TIERNEY 999009999 0 TANYA MEDGAARDEN P01717240 5074347000 2024-05-09 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z CATHERINE J TIERNEY PO BOX 1487 APPLETON WI 54912 284290495 0 X WWW.COMMUNITYFIRSTCU.ORG X 1975 WI OUR MISSION IS TO BE OUR MEMBERS' PRIMARY FINANCIAL SERVICES PROVIDER 10 9 726 12 13586 0 0 0 154743871 184538556 32625862 96702515 1683221 2423452 189052954 283664523 0 0 33998109 106206356 41674613 48924420 0 0 0 42905483 62958817 118578205 218089593 70474749 65574930 5156851836 5550453190 4569773622 4896441178 587078214 654012012 X COMMUNITY FIRST CREDIT UNION WILL PROVIDE HIGH QUALITY, COMPETITIVE FINANCIAL PRODUCTS AND SERVICES WHICH ANTICIPATE AND EXCEED OUR MEMBERS' NEEDS. WE INTEND TO BE THE PRIMARY FINANCIAL ORGANIZATION FOR OUR MEMBERS BY EARNING AND MAINTAINING THEIR TRUST, BY MAINTAINING A BALANCE BETWEEN SOUND GROWTH, EARNINGS AND RESERVES, BY PROVIDING A CHALLENGING AND REWARDING ENVIRONMENT FOR OUR EMPLOYEES AND BY CONTRIBUTING TO THE SOCIAL AND ECONOMIC WELL-BEING OF THE COMMUNITIES WE SERVE. 0 0 PROVIDED FINANCIAL SERVICES TO 155,922 MEMBER OWNERS IN 2023. FUNDED 29,579 LOANS TO THESE MEMBERS IN 2023 FOR $1,159,661,701. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 266099 0 1 726 1 1 1 0 0 0 0 0 1 0 X 10 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X CATHERINE J TIERNEY 9208307200 1575 DRESANG WAY NEENAH WI 54956 CATHERINE J TIERNEY CEO/PRESIDENT/BOD TREASURER 40.00 X X 1104499 0 30114 KATHRYN SIEMAN BOARD MEMBER 1.00 X 0 0 0 SARA MICHELETTI CHAIRPERSON 1.00 X X 0 0 0 JAY FULKERSON BOARD MEMBER - EMERITUS 1.00 X 0 0 0 DANIEL FERRIS BOARD MEMBER 1.00 X 0 0 0 MICHAEL MOORE SECRETARY 1.00 X X 0 0 0 PETER MARIAHAZY VICE CHAIRPERSON 1.00 X X 0 0 0 PAUL SCHWARTZ BOARD MEMBER 1.00 X 0 0 0 AMY FRICKE-WEIGEL BOARD MEMBER 1.00 X 0 0 0 MATTHEW BINGHAM BOARD MEMBER 1.00 X 0 0 0 ADAM SWOVERLAND BOARD MEMBER 1.00 X 0 0 0 AMANDA SECOR CHIEF OF STAFF 40.00 X 327526 0 176056 SCOTT STEINFORT CHIEF TECHNOLOGY OFFICER 40.00 X 395942 0 101787 TIMOTHY HOFF CHIEF LENDING OFFICER 40.00 X 382282 0 112656 KRISTY HESSE CHIEF HUMAN RESOURCE OFFICER 40.00 X 341392 0 61630 CHARLES BOSTICK CHIEF FINANCIAL OFFICER 40.00 X 335857 0 28200 JAKE BUMAN FINANCIAL ADVISOR 40.00 X 441469 0 55684 MARY LORNSON SVP LENDING 40.00 X 254057 0 139834 CHAD SCHROEDER FINANCIAL ADVISOR 40.00 X 316700 0 64957 MARY J SULLIVAN SVP SPECIAL PROJECTS 40.00 X 321899 0 11695 JEFFREY GARRETT FINANCIAL ADVISOR PROGRAM MANAGER 40.00 X 292378 0 26662 4514001 0 809275 11 0 1 0 BURTON KARSTEDT INC 2336 HIGH POINT DR LINDENHURST IL 60046 ADVERTISING 2115013 FISERV PO BOX 934057 ATLANTA GA 311934057 DATA PROCESSING 2001542 HEARTLAND BUSINESS SYSTEMS INC 1700 STEPHEN ST LITTLE CHUTE WI 54140 COMPUTER PRODUCTS AND MAINTENANCE 1437378 LUMIN DIGITAL 3001 BISHOP DRIVE STE 110 SAN RAMON CA 94583 DIGITAL BANKING SERVICES 1399432 JKS OF WISCONSIN INC DBA SERVICEMASTER 2522 FISH HACHERY RD STE 100 MADISON WI 53713 CLEANING SERVICE 379967 26 LOAN INTEREST 522100 145677719 145677719 OTHER OPERATING INCOME 522100 25125885 25125885 FEES & SERVICE CHGS 522100 13734952 13659186 75766 184538556 96524407 96524407 31200 93380 -62180 -62180 -62180 710700 532592 178108 178108 178108 OTHER NON-INTEREST INCOME 522100 2485632 2485632 2485632 283664523 186948422 13586 96702515 106206356 3397941 36035070 3425845 3466939 2598625 199027 339373 4940872 10269507 4991842 2849884 359234 218756 24785401 4218929 444833 LOAN SERVICING EXPENSES 4454917 PROVISION FOR LOAN LOSS 2958864 MISC NON-INTEREST EXPEN 1639726 OPERATING FEES 287652 218089593 33350918 14324270 96215 33578 3543648794 3929480622 54506009 53884640 111786348 41401616 66257076 70384732 1400083673 1412112995 58909151 70232353 5156851836 5550453190 47432963 58234479 4522340659 4838206699 4569773622 4896441178 X 0 0 0 0 587078214 654012012 587078214 654012012 5156851836 5550453190 X 65574930 1358868 X X 0 0 0 19636148 19636148 62242736 18866872 43375864 658542 488341 170201 28880182 22046403 6833779 368740 368740 70384732 INVESTMENTS - PROGRAM RELATED 1412112995 C 1412112995 MEMBER ACCOUNTS 4807999699 NONMEMBER DEPOSITS 30207000 4838206699 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER INTERNAL REVENUE CODE (IRC) 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF SEPTEMBER 30, 2023 AND 2022 THE CREDIT UNION'S 2020 THROUGH 2022 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. 1 X X X X 0 0 0 CATHERINE J TIERNEY CEO/PRESIDENT/BOD TREASURER 826530 0 245526 0 32443 0 22500 0 7614 0 1134613 0 0 0 AMANDA SECOR CHIEF OF STAFF 249214 0 71201 0 7111 0 151375 0 24681 0 503582 0 0 0 SCOTT STEINFORT CHIEF TECHNOLOGY OFFICER 311194 0 74001 0 10747 0 70123 0 31664 0 497729 0 0 0 JAKE BUMAN FINANCIAL ADVISOR 436774 0 0 0 4695 0 28067 0 27617 0 497153 0 0 0 TIMOTHY HOFF CHIEF LENDING OFFICER 302845 0 71761 0 7676 0 93235 0 19421 0 494938 0 0 0 KRISTY HESSE CHIEF HUMAN RESOURCE OFFICER 275615 0 60357 0 5420 0 61630 0 0 0 403022 0 0 0 MARY LORNSON SVP LENDING 216341 0 30007 0 7709 0 123294 0 16540 0 393891 0 0 0 CHAD SCHROEDER FINANCIAL ADVISOR 312090 0 0 0 4610 0 56730 0 8227 0 381657 0 0 0 CHARLES BOSTICK CHIEF FINANCIAL OFFICER 318663 0 11875 0 5319 0 0 0 28200 0 364057 0 0 0 MARY J SULLIVAN SVP SPECIAL PROJECTS 222939 0 92435 0 6525 0 0 0 11695 0 333594 0 0 0 JEFFREY GARRETT FINANCIAL ADVISOR PROGRAM MANAGER 286779 0 0 0 5599 0 0 0 26662 0 319040 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 MEMBERS OF THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER OWNER HAS ONE VOTE TO ELECT ONE OR MORE DIRECTORS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B EACH MEMBER HAS ONE VOTE TO UTILIZE IN RATIFYING SIGNIFICANT DECISIONS BEYOND THE AUTHORITY OF THE BOARD AS OUTLINED BY THE ORGANIZATION'S BYLAWS. ANY DECISION TO DISSOLVE OR MERGE THE ORGANIZATION REQUIRES APPROVAL OF MEMBERSHIP, UNLESS MANDATED BY REGULATORY AGENCY (I.E. NCUA, WISCONSIN OFFICE OF CREDIT UNIONS). FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY CEO AND PRESENTED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C BOARD OF DIRECTORS COMPLETES A CONFLICT OF INTEREST QUESTIONNAIRE ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE USED AN OUTSIDE COMPENSATION CONSULTANT FOR CEO AND KEY EMPLOYEE COMPENSATION. THE COMPENSATION CONSULTANT WORKS DIRECTLY WITH THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE REVIEWED BY THE BOARD OF DIRECTORS MONTHLY AND AN ANNUAL REPORT IS AVAILABLE TO MEMBERSHIP EACH YEAR. FORM 990, PART XI, LINE 9: OTHER COMPREHENSIVE INCOME 2,023,346. CECL TRANSITIONAL AMOUNT -664,478. FORM 990, PART XII, LINE 2B: AUDITED FINANCIAL STATEMENTS: THE ORGANIZATION HAS AN AUDIT PERFORMED EACH YEAR AS OF SEPTEMBER 30TH. THIS QUESTION IS BEING ANSWERED 'NO' ONLY BECAUSE THE REPORTING PERIOD FOR THE ANNUAL AUDIT DOES NOT MATCH THE DECEMBER 31ST REPORTING PERIOD FOR THE FORM 990. FORM 990, PART XII, LINE 2C: A FINANCIAL AUDIT IS PERFORMED ANNUALLY ALONG WITH INTERNAL AUDITS WHICH ARE PERFORMED THROUGHOUT THE YEAR. THE AUDIT PLAN AND ACTUAL AUDIT REPORTS ARE REVIEWED WITH THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS. COMMUNITY FIRST SERVICES INC PO BOX 1487 APPLETON WI 54912 391604353 INSURANCE WI COMMUNITY FIRST CREDIT UNION C 122339 1364824 1.00000 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 COMMUNITY FIRST SERVICES INC A 31200 COST