COVANTAGE CREDIT UNION: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- COVANTAGE CREDIT UNION (EIN 39-0945701)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-08-28
- IRS object ID
- 202422419349300612
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-08-28T08:06:12-05:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 390758449 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WIPFLI LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1502 LONDON ROAD SUITE 200 | AddressLine1Txt |
| City | DULUTH | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55812 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 390945701 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | COVANTAGE CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | COVA | BusinessNameControlTxt |
| Phone | 7156274336 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 723 6TH AVENUE PO BOX 107 | AddressLine1Txt |
| City | ANTIGO | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 544090107 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MARY PRUTNY | PersonNm |
| Person Title | CHIEF FINANCIAL OFFICER | PersonTitleTxt |
| Phone | 7156274336 | PhoneNum |
| Signature | 2024-08-21 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | MICHAEL J PETERSON CPA | PreparerPersonNm |
| PTIN | P01833529 | PTIN |
| Phone | 2187224705 | PhoneNum |
| Preparation | 2024-08-21 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-08-08 14:25:15Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | CHARLES ZANAYED | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 723 6TH AVENUE PO BOX 107 | AddressLine1Txt |
| City | ANTIGO | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 544090107 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $191,684,207 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Group Exemption | 2157 | GroupExemptionNum |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.COVANTAGECU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1953 | FormationYr |
| Legal Domicile State | WI | LegalDomicileStateCd |
| Activity Or Mission | A COOPERATIVE, NONPROFIT CORPORATION, INCORPORATED UNDER WISCONSIN STATE LAW TO ENCOURAGE THRIFT AMONG ITS MEMBERS, CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE COST, AND PROVIDE OPPORTUNITY FOR ITS MEMBERS TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 10 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 10 | VotingMembersIndependentCnt |
| Total Employee | 579 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $91,727 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $548,813 | PYContributionsGrantsAmt |
| CY Contributions Grants | $1,160,000 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $104,711,370 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $156,234,450 | CYProgramServiceRevenueAmt |
| PY Investment Income | $16,347,801 | PYInvestmentIncomeAmt |
| CY Investment Income | $32,806,664 | CYInvestmentIncomeAmt |
| PY Other Revenue | $122,095 | PYOtherRevenueAmt |
| CY Other Revenue | $5,489 | CYOtherRevenueAmt |
| PY Total Revenue | $121,730,079 | PYTotalRevenueAmt |
| CY Total Revenue | $190,206,603 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $756,269 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $462,351 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $34,781,641 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $39,310,082 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $63,458,707 | PYOtherExpensesAmt |
| CY Other Expenses | $131,218,783 | CYOtherExpensesAmt |
| PY Total Expenses | $98,996,617 | PYTotalExpensesAmt |
| CY Total Expenses | $170,991,216 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $22,733,462 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $19,215,387 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $2,963,887,227 | TotalAssetsBOYAmt |
| Total Assets EOY | $3,537,015,111 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $2,689,681,748 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $3,234,345,199 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $274,205,479 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $302,669,912 | NetAssetsOrFundBalancesEOYAmt |
| Mission | A COOPERATIVE, NONPROFIT CORPORATION, INCORPORATED UNDER WISCONSIN STATE LAW TO ENCOURAGE THRIFT AMONG ITS MEMBERS, CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE COST, AND PROVIDE OPPORTUNITY FOR ITS MEMBERS TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | COVANTAGE HAS 166,692 MEMBERS, AND FOR THOSE LOOKING TO SAVE, COVANTAGE STRIVES TO PAY DIVIDEND RATES THAT ARE ABOVE MARKET RATES, EVEN IN THIS RISING RATE ENVIRONMENT. AS OF DECEMBER 31, 2023, COVANTAGE WAS PAYING AN ANNUAL PERCENTAGE RATE OF 2.28% ON REGULAR SHARE ACCOUNTS WHEN MANY OTHER FINANCIALS CONTINUED TO KEEP THEIR RATES LOWER IN A RISING RATE ENVIRONMENT. OUR MINIMUM BALANCE OF ONLY $10 CONTINUED TO BE MAINTAINED, WHICH HELPED MANY MEMBERS IN TIMES OF HARDSHIP. MEMBERS WERE NOT ONLY ABLE TO RECEIVE THE BENEFIT OF HIGHER THAN AVERAGE RATES DURING A RISING RATE ENVIRONMENT, BUT COVANTAGE STILL REWARDED MEMBERS WITH AN ADDITIONAL $6,177,811 IN PATRONAGE PAYMENTS IN 2023. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | COVANTAGE CONTINUES TO OFFER COST-FRIENDLY PRODUCTS TO OUR MEMBERS. WE NOT ONLY DO THIS THROUGH OUR COMPETITIVE RATES, BUT ALSO BY GOING ABOVE AND BEYOND TO HELP THOSE IN NEED. WE CONTINUE TO OFFER COST-FRIENDLY OPTIONS TO PAYDAY LENDERS SUCH AS KWIK CASH OVERDRAFT PROTECTION LOANS WITH NO SERVICE CHARGE OR TRANSFER FEE, COURTESY PAY CHECKING ACCOUNT SERVICES ALSO WITHOUT HEFTY FEES, IN ADDITION TO REWARD CREDIT CARDS WITH VERY COMPETITIVE INTEREST RATES. OTHER LOW-COST OPTIONS INCLUDE OUR OWN PAYDAY ADVANCE LOANS IN ADDITION TO SHARE-SECURED CREDIT CARDS AND OTHER CREDIT BUILDER LOANS FOR THOSE MEMBERS THAT NEED TO REBUILD CREDIT. FOR THOSE LOOKING FOR HOME OWNERSHIP, COVANTAGE ALSO OFFERED ITS COVANTAGE CREATES HOMES MORTGAGE PROGRAM TO HELP THOSE THAT MIGHT NEED ASSISTANCE WITH A DOWN PAYMENT OR NEEDED HOME REPAIRS. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | COVANTAGE ALSO STRIVES TO SUPPORT FINANCIAL LITERACY, INCLUDING PROVIDING ACCEL CREDIT COUNSELING AS A FREE SERVICE TO OUR MEMBERS TO ASSIST WITH BUDGETING, UNDERSTANDING CREDIT REPORTS, MONEY MANAGEMENT, AND DEBT REPAYMENT. THIS FREE SERVICE SAVES MEMBERS $25-$50 PER MONTH THAT IS COMMONLY CHARGED BY OTHER CREDIT COUNSELING AGENCIES. IN ADDITION, COVANTAGE OFFERS COMMUNITY EDUCATION EVENTS AND PROMOTES FINANCIAL LITERACY TO STUDENTS THROUGH REALITY FAIRS. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 80545 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 579 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 10 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 10 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CHARLES ZANAYED PRESIDENTCEO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 7156274336 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 723 6TH AVENUE PO BOX 107 | AddressLine1Txt |
| City | ANTIGO | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 544090107 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (19 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|---|
| DENNIS HALTINNER | |||||||||
| CHAIR | 2.00 | Yes (X) | Yes (X) | $9,000 | $0 | $0 | |||
| MICHAEL WINDBERG | |||||||||
| VICE CHAIR | 2.00 | Yes (X) | Yes (X) | $9,000 | $0 | $0 | |||
| WILLIS QUALHEIM | |||||||||
| TREASURER | 2.00 | Yes (X) | Yes (X) | $9,000 | $0 | $0 | |||
| LEE SILER | |||||||||
| SECRETARY | 2.00 | Yes (X) | Yes (X) | $9,000 | $0 | $0 | |||
| JULIE BERNDT | |||||||||
| DIRECTOR | 2.00 | Yes (X) | $9,000 | $0 | $0 | ||||
| ANGIE CLOSE | |||||||||
| DIRECTOR | 2.00 | Yes (X) | $7,500 | $0 | $0 | ||||
| SUSAN GITZLAFF | |||||||||
| DIRECTOR | 2.00 | Yes (X) | $9,000 | $0 | $0 | ||||
| MATT KOLLING | |||||||||
| DIRECTOR | 2.00 | Yes (X) | $9,000 | $0 | $0 | ||||
| PAUL PAYANT | |||||||||
| DIRECTOR | 2.00 | Yes (X) | $9,000 | $0 | $0 | ||||
| EUGENE SHAWANO | |||||||||
| DIRECTOR | 2.00 | Yes (X) | $9,000 | $0 | $0 | ||||
| CHARLES DALLAS | |||||||||
| TIER 3 CR COMMITTEE MEM (THRU 2/23) | 2.00 | Yes (X) | $1,500 | $0 | $0 | ||||
| CHARLES ZANAYED | |||||||||
| PRESIDENT | 40.00 | Yes (X) | $687,017 | $0 | $71,241 | 1.00 | |||
| MARY PRUNTY | |||||||||
| CHIEF FINANCIAL OFFICER | 40.00 | Yes (X) | $222,957 | $0 | $33,798 | ||||
| STACY BOUCHE | |||||||||
| CHIEF MORTGAGE LENDING OFFICER | 40.00 | $231,432 | $0 | $37,598 | Yes (X) | ||||
| SHERRY AULIK | |||||||||
| CHIEF IMPACT OFFICER | 40.00 | $356,522 | $0 | $72,990 | 3.00 | Yes (X) | |||
| BRETT LEE | |||||||||
| CHIEF RETAIL OFFICER | 40.00 | $330,900 | $0 | $44,903 | Yes (X) | ||||
| JOAN FARRELL | |||||||||
| CHIEF RISK OFFICER | 40.00 | $275,984 | $0 | $31,275 | 3.00 | Yes (X) | |||
| SEAN VAN HANDEL | |||||||||
| CHIEF INFORMATION OFFICER | 40.00 | $246,168 | $0 | $60,111 | Yes (X) | ||||
| PATRICK CURRAN | |||||||||
| VP DIGITAL SERVICES | 40.00 | $200,134 | $0 | $34,827 | Yes (X) | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,641,114 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $386,743 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 47 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| MIRON CONTSTRUCTION COMPANY | |||||
| PO BOX 1372 | GREEN BAY | WI | 54305 | BUILDING CONSTRUCTION CONTRACTOR | $9,627,230 |
| INFOPRO | |||||
| 1325 S MAIN ST | FON DU LAC | WI | 54935 | INSURANCE MONITORING | $5,688,463 |
| JACK HENRY & ASSOCIATES INC | |||||
| PO BOX 609 | MONET | MO | 65708 | CORE SYSTEM SERVICES | $2,213,072 |
| NUSOURCE FINANCIAL INC | |||||
| 9749 HAMILTON ROAD | EDEN PRAIRIE | MN | 55344 | TECHNOLOGY SERVICES | $1,389,315 |
| TRACE3 | |||||
| PO BOX 603915 | CHARLOTTE | NC | 28260 | TECHNOLOGY CONSULTANTS | $1,180,009 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 62 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $1,160,000 | GovernmentGrantsAmt |
| Total Contributions | $1,160,000 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INTEREST ON LOANS | 522100 | $134,805,093 | $134,805,093 | |
| CREDIT AND DEBIT CARD INTERCHANGE | 522200 | $14,930,273 | $14,850,863 | $79,410 |
| SERVICE FEES | 522100 | $4,265,099 | $4,252,782 | $12,317 |
| CUNA INSURANCE INCOME | 522100 | $1,808,707 | $1,808,707 | |
| SAFE DEPOSIT BOX RENT | 522100 | $96,885 | $96,885 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $328,393 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $328,393 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $156,234,450 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $31,637,715 | TotalRevenueColumnAmt |
| Exclusion | $31,637,715 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $5,489 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $5,489 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $5,489 | TotalRevenueColumnAmt |
| Exclusion | $5,489 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $2,646,553 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,348,184 | SecuritiesAmt |
| Other | $129,420 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,298,369 | SecuritiesAmt |
| Other | -$129,420 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,168,949 | TotalRevenueColumnAmt |
| Exclusion | $1,168,949 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $190,206,603 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $156,142,723 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $91,727 | UnrelatedBusinessRevenueAmt |
| Exclusion | $32,812,153 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $462,351 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,374,044 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $26,808,996 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,905,271 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,100,063 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,121,708 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $510,290 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $186,405 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,422,518 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,345,346 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,511,065 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,549,938 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,509,912 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $534,965 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $306,824 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $20,608,602 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,055,412 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $360,993 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| DIVIDENDS PAID ON MEMBE | $68,716,342 |
| LOAN SERVICING EXPENSE | $9,787,185 |
| PROVISION FOR LOAN LOSS | $6,457,259 |
| DUES AND SUBSCRIPTIONS | $252,729 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,102,998 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $170,991,216 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,167,548 | BOYAmt |
| EOY | $21,824,348 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $137,046,240 | BOYAmt |
| EOY | $136,042,942 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,321,490 | BOYAmt |
| EOY | $10,272,299 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,342,357,129 | BOYAmt |
| EOY | $2,810,712,056 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,828,222 | BOYAmt |
| EOY | $4,499,529 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $95,736,199 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $33,016,935 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $52,480,860 | BOYAmt |
| EOY | $62,719,264 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $303,923,807 | BOYAmt |
| EOY | $353,314,646 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,659,743 | BOYAmt |
| EOY | $59,778,785 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $43,177,889 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $89,102,188 | BOYAmt |
| EOY | $34,673,353 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,963,887,227 | BOYAmt |
| EOY | $3,537,015,111 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $104,444,683 | BOYAmt |
| EOY | $212,320,860 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $3,533,445 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,585,237,065 | BOYAmt |
| EOY | $3,018,490,894 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,689,681,748 | BOYAmt |
| EOY | $3,234,345,199 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $274,205,479 | BOYAmt |
| EOY | $302,669,912 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $274,205,479 | BOYAmt |
| EOY | $302,669,912 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,963,887,227 | BOYAmt |
| EOY | $3,537,015,111 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $19,215,387 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $9,741,557 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$492,511 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $10,111,330 | OtherCostOrOtherBasisAmt |
| Book Value | $10,111,330 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $57,816,115 | OtherCostOrOtherBasisAmt |
| Depreciation | $16,420,051 | DepreciationAmt |
| Book Value | $41,396,064 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $26,591,431 | OtherCostOrOtherBasisAmt |
| Depreciation | $16,596,884 | DepreciationAmt |
| Book Value | $9,994,547 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,217,323 | OtherCostOrOtherBasisAmt |
| Book Value | $1,217,323 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $62,719,264 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (6 entries)
| DescDesc | AmtAmt |
|---|---|
| SHARE DRAFTS | $434,612,257 |
| REGULAR SHARES | $694,520,291 |
| MONEY MARKET SHARES | $828,481,779 |
| SHARE CERTIFICATES | $546,648,953 |
| IRA/KEOGH ACCOUNTS | $514,908,838 |
| OTHER LIABILTIES | -$681,224 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $3,018,490,894 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | THE ORGANIZATION IS THE TRUSTEE OF CERTAIN MEMBER'S ESCROW FUNDS AND HAS FIDUCIARY RESPONSIBILITY FOR THE ADMINISTRATION AND DISTRIBUTION OF THESE FUNDS FOR MEMBERS OF THE ORGANIZATION. |
| PART X, LINE 2: | THE CREDIT UNION IS EXEMPT, UNDER IRC 501(C)(14), FROM MOST FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE AS UNRELATED BUSINESS INCOME. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2023 AND 2022. THE CREDIT UNION'S 2020 THROUGH 2022 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (9 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| COVANTAGE CARES FOUNDATION INC | ||||||||
| 723 6TH AVENUE | ANTIGO | WI | 54409 | 811056981 | 501(C)(3) | $150,000 | $0 | GENERAL SUPPORT |
| MAKE A WISH WISCONSIN | ||||||||
| 200 E WASHINGTON ST STE 2F | APPLETON | WI | 54911 | 391543541 | 501(C)(3) | $16,500 | $0 | GENERAL SUPPORT |
| WISCONSIN TIMBER RATTLERS | ||||||||
| PO BOX 7464 | APPLETON | WI | 54912 | 853211037 | $14,000 | $0 | GENERAL SUPPORT | |
| WAUSAUCENTRAL WI SPORTS AUTHORITY | ||||||||
| 219 JEFFERSON ST | WAUSAU | WI | 54403 | 811937746 | 501(C)(3) | $10,250 | $0 | GENERAL SUPPORT |
| FUTURE NEENAH INC | ||||||||
| 135 W WISCONSIN AVE | NEENAH | WI | 54956 | 930843731 | 501(C)(3) | $10,000 | $0 | GENERAL SUPPORT |
| ST MARY CATHOLIC SCHOOL | ||||||||
| 1050 ZEPHYR DRIVE | NEENAH | WI | 54956 | 391656963 | 501(C)(3) | $10,000 | $0 | GENERAL SUPPORT |
| TASTE N GLOW BALLOON FEST | ||||||||
| PO BOX 1772 | WAUSAU | WI | 54402 | 921288510 | 501(C)(3) | $10,000 | $0 | GENERAL SUPPORT |
| BOYS AND GIRLS CLUB OF THE WAUSAU AREA INC | ||||||||
| PO BOX 2386 | WAUSAU | WI | 54402 | 391850386 | 501(C)(3) | $7,000 | $0 | GENERAL SUPPORT |
| WAUSAU EVENTS | ||||||||
| 407 GRANT ST | WAUSAU | WI | 54403 | 391612386 | 501(C)(3) | $5,500 | $0 | GENERAL SUPPORT |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 8 | Total501c3OrgCnt |
| Total Other Org | 1 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE ORGANIZATION MONITORS THE USE OF THEIR GRANT FUNDS CLOSELY. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (8 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CHARLES ZANAYED | ||||||||||||||
| PRESIDENT | $662,111 | $0 | $23,766 | $0 | $1,140 | $0 | $47,151 | $0 | $24,090 | $0 | $758,258 | $0 | $0 | $0 |
| SHERRY AULIK | ||||||||||||||
| CHIEF IMPACT OFFICER | $343,816 | $0 | $10,900 | $0 | $1,806 | $0 | $48,900 | $0 | $24,090 | $0 | $429,512 | $0 | $0 | $0 |
| BRETT LEE | ||||||||||||||
| CHIEF RETAIL OFFICER | $319,501 | $0 | $10,769 | $0 | $630 | $0 | $26,400 | $0 | $18,503 | $0 | $375,803 | $0 | $0 | $0 |
| JOAN FARRELL | ||||||||||||||
| CHIEF RISK OFFICER | $263,901 | $0 | $9,311 | $0 | $2,772 | $0 | $14,229 | $0 | $17,046 | $0 | $307,259 | $0 | $0 | $0 |
| SEAN VAN HANDEL | ||||||||||||||
| CHIEF INFORMATION OFFICER | $236,279 | $0 | $8,083 | $0 | $1,806 | $0 | $36,621 | $0 | $23,490 | $0 | $306,279 | $0 | $0 | $0 |
| STACY BOUCHE | ||||||||||||||
| CHIEF MORTGAGE LENDING OFFICER | $223,095 | $0 | $7,371 | $0 | $966 | $0 | $19,095 | $0 | $18,503 | $0 | $269,030 | $0 | $0 | $0 |
| MARY PRUNTY | ||||||||||||||
| CHIEF FINANCIAL OFFICER | $219,959 | $0 | $2,669 | $0 | $329 | $0 | $22,602 | $0 | $11,196 | $0 | $256,755 | $0 | $0 | $0 |
| PATRICK CURRAN | ||||||||||||||
| VP DIGITAL SERVICES | $190,796 | $0 | $8,403 | $0 | $935 | $0 | $16,338 | $0 | $18,489 | $0 | $234,961 | $0 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | COVANTAGE CREDIT UNION IS OWNED AND OPERATED BY ITS 166,692 MEMBERS AND A VOLUNTEER BOARD OF DIRECTORS. A SAVINGS ACCOUNT WITH A MINIMAL $10 DEPOSIT MEETS THE REQUIREMENT OF BEING A MEMBER-OWNER JUST AS LONG AS THEY MEET ONE OF THE OTHER MEMBERSHIP REQUIREMENTS SUCH AS RESIDING IN THE CHARTERED AREA, A FAMILY MEMBER IS ALREADY A MEMBER, ARE A MEMBER OF SERVCO FS COOPERATIVE IN ANTIGO, OR ARE A STUDENT/ALUMNI OF A POST-SECONDARY SCHOOL IN MARATHON COUNTY, OR ANY PERSON THAT MAKES A DONATION TO THE COVANTAGE CARES FOUNDATION, INC. OR HAS A DONATION MADE IN THEIR NAME OR ON THEIR BEHALF, IN ANY AMOUNT OF $10.00 OR MORE. OUR MEMBER-OWNERS BENEFIT FROM BELONGING TO COVANTAGE THROUGH LOWER LOAN RATES, HIGHER SAVINGS RATES, FEWER FEES, IN ADDITION TO THE INTRODUCTION OF NEW PRODUCTS AND OTHER INCENTIVES. |
| 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 | THE MEMBERS WOULD NEED TO APPROVE DECISIONS SUCH AS CHANGE OF NAME OR A MERGER DECISION. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE BOARD OF DIRECTORS IS PRESENTED WITH A COPY OF FORM 990 AT A MONTHLY BOARD MEETING, WHICH ALLOW THEM TO REVIEW IT PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL EMPLOYEES, IN ADDITION TO DIRECTORS AND CREDIT COMMITTEE MEMBERS. NO DIRECTOR IS ALLOWED TO BECOME AN EMPLOYEE, OR VICE-VERSA, WHILE EITHER EMPLOYED OR SERVICING ON THE BOARD, OR WITHIN ONE YEAR AFTER THEIR TERMINATION/ENDING OF BOARD TERM. IN REGARD TO LENDING, ALL EMPLOYEE LOANS ARE REVIEWED TO ENSURE NO CONFLICTS OF INTEREST HAVE OCCURRED WITHIN THE TRANSACTION. ANY POTENTIAL CONFLICTS ARE REPORTED TO THE BOARD FOR REVIEW. ANY POTENTIAL CONFLICTS ARE REVIEWED BY THE SVP OF COMMERCIAL LENDING AND THEN REPORTED TO THE BOARD OF DIRECTORS. SHOULD A CONFLICT OF INTEREST ARISE, IT WOULD BE ACTED UPON ON A CASE-BY-CASE MATTER, WITH APPROPRIATE REPERCUSSIONS TAKEN AS FOUND APPROPRIATE BY COVANTAGE CU. THE CONFLICT OF INTEREST POLICY IS ENFORCED CONSISTENTLY FROM YEAR TO YEAR. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE PROCESS OF DETERMINING COMPENSATION FOR OFFICERS INCLUDE UTILIZING THE CREDIT UNION'S COMPENSATION MANAGEMENT PROGRAM TO PERFORM AN ANNUAL MARKET ANALYSIS REVIEW BASED OFF OF DATA FROM COMPARABLE POSITIONS ACROSS ALL INDUSTRIES. THIS DATA IS USED TO CREATE A MARKET AVERAGE FOR EACH POSITION. THE MIDPOINT OF OUR PAYGRADE IS TARGETED TO BE COMPARABLE TO THAT MARKET AVERAGE. THE MARKET ANALYSIS REVIEW IS COMPLETED ANNUALLY, BEGINNING IN SEPTEMBER/OCTOBER. THE NEW SALARY AMOUNTS ARE THEN APPROVED BY THE BOARD IN NOVEMBER FOR THE UPCOMING YEAR. SALARIES ARE THEN ADJUSTED ON EACH INDIVIDUAL'S ANNUAL REVIEW DATE. FOR THOSE INDIVIDUALS LISTED, THIS PROCESS WAS LAST COMPLETED IN 2023 FOR THE 2024 CALENDAR YEAR. |
| FORM 990, PART VI, SECTION C, LINE 19 | COVANTAGE CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, IN ADDITION TO ITS CONFLICT OF INTEREST POLICY, AVAILABLE TO THE PUBLIC UPON REQUEST. FINANCIAL STATEMENTS ARE AVAILABLE BY VIEWING THE NCUA 5300 CALL REPORT OR BY OBTAINING AN ANNUAL STATEMENT BROCHURE AVAILABLE IN THE LOBBIES OF ALL BRANCHES. |
| FORM 990, PART XI, LINE 9: | CHANGE IN OTHER COMPREHENSIVE INCOME 4,358. TRANSITION PROPERTIES - CONSOLIDATED STATEMENT -969. INVESTMENT IN CUVANTA, LLC -2,469. OTHER CHANGES -493,431. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|
| TRANSITION PROPERTIES LLC | |||||||||
| 723 6TH AVENUE PO BOX 107 | ANTIGO | WI | 544090107 | 461713416 | OWN AND MANAGE OTHER REAL ESTATE OWNED BY COVANTAGE CREDIT UNION. | WI | -$969 | $16,910 | COVANTAGE CREDIT UNION |
| CUVANTA LLC | |||||||||
| 723 6TH AVENUE PO BOX 107 | ANTIGO | WI | 544090107 | 871202501 | PROVIDE UNDERWRITING SERVICES FOR INDIRECT DEALER RELATIONSHIP. | WI | -$2,469 | $43,209 | COVANTAGE CREDIT UNION |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | COVANTAGE CARES FOUNDATION INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 723 6TH AVENUE PO BOX 107 | AddressLine1Txt |
| City | ANTIGO | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 544090107 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 811056981 | EIN |
| Primary Activities | PROVIDE FINANCIAL ASSISTANCE TO INDIVIDUALS & ORGANIZATIONS | PrimaryActivitiesTxt |
| Legal Domicile State | WI | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | LINE 7 | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | COVANTAGE CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (1) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | COVANTAGE CARES FOUNDATION INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | B | TransactionTypeTxt |
| Involved | $150,000 | InvolvedAmt |
| Method Of Amount Determination | CASH | MethodOfAmountDeterminationTxt |