2024-11-14T13:10:03-06:00 2023-12-31 390912608 HAWKINS ASH CPAS LLP 520 N BROADWAY SUITE 250 GREEN BAY WI 54303 990 2023-01-01 390738415 FOX COMMUNITIES CREDIT UNION FOXC 9209933753 2201 E ENTERPRISE AVE APPLETON WI 54913 NIKOLA B SCHAUMBERG CPA CFO 9209933753 2024-10-30 1 1 JEFFREY DANEN CPA P01236582 9203369850 2024-10-30 2023 2024-10-15 13:58:12Z CHRISTOPHER ALLEN 2201 E ENTERPRISE AVE APPLETON WI 54913 141797274 0 2157 X WWW.FOXCU.ORG X 1937 WI WE PARTNER WITH OUR MEMBERS, COMMUNITIES, AND FOX FAMILY TO BUILD STRONGER FINANCIAL FUTURES. 9 9 520 9 172043 0 0 0 94845524 117848963 7932671 18767275 1612794 1380779 104390989 137997017 0 0 0 0 34585243 37758763 0 0 0 51540736 88293021 86125979 126051784 18265010 11945233 2694097241 2838956202 2471501191 2589956576 222596050 248999626 WE PARTNER WITH OUR MEMBERS, COMMUNITIES, AND FOX FAMILY TO BUILD STRONGER FINANCIAL FUTURES. 0 0 WE OFFER LOANS FOR PURCHASES OF RESIDENTIAL REAL ESTATE, CREDIT CARDS, AUTOMOBILES AND OTHER CONSUMER PURPOSES TO OUR INDIVIDUAL MEMBERS, AND OUR SMALL BUSINESS MEMBERS. AS OF 12/31/2023 WE HAD $1 BILLION OUTSTANDING IN RESIDENTIAL REAL ESTATE AND HOME EQUITY LOANS, $554 MILLION OUTSTANDING IN CONSUMER LOANS, AND $653 MILLION OUTSTANDING IN MEMBER BUSINESS LOANS. WE OFFER DEPOSIT PRODUCTS TO INDIVIDUAL MEMBERS AS WELL AS BUSINESS MEMBERS THAT QUALIFY IN OUR FIELD OF MEMBERSHIP. FOX DONATED IN EXCESS OF $800,000 TO VARIOUS LOCAL CHARITIES THROUGHOUT THE YEAR. FOX CONTINUES TO SUPPORT LOCAL NONPROFITS AND VOLUNTEERS AT MANY COMMUNITY EVENTS. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 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 1 1 0 0 1 60952 0 1 520 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X NIKOLA B SCHAUMBERG CFO 9209933753 2201 E ENTERPRISE AVE APPLETON WI 54913 RICHARD SCOTT CHAIR 1.00 X X 15225 0 0 JOANNE BOGENSCHUTZ SECRETARY 1.00 X X 12225 0 0 MARTY DOCTER DIRECTOR 1.00 X 9250 0 0 WILLIAM PANELLA DIRECTOR 1.00 X 11725 0 0 CAMILLE KEMNITZ-ZIZZO DIRECTOR 1.00 X 11550 0 0 JESSICA FLEEK DIRECTOR 1.00 X 11050 0 0 MICHAEL VOELKER DIRECTOR 1.00 X 11025 0 0 JAMES RICHARDSON VICE CHAIR 1.00 X X 12225 0 0 PAUL SIPPL TREASURER 1.00 X X 11725 0 0 CHRISTOPHER ALLEN PRESIDENT/CEO 40.00 X 661350 0 51055 NIKI SCHAUMBERG CHIEF FINANCIAL OFFICER 40.00 X 249154 0 45845 ADAM LANDSVERK CHIEF LENDING OFFICER 40.00 X 273099 0 43105 MITCHELL MUSIAL GENERAL COUNSEL 40.00 X 215932 0 42625 NANCY KRAHN CHIEF RETAIL OFFICER 40.00 X 244424 0 19616 KORY KITOWSKI CHIEF INFORMATION OFFICER 40.00 X 210062 0 22218 KRISTINE HACKBARTH-HORN CHIEF PEOPLE OFFICER 40.00 X 235456 0 46386 CATHY HARVATH FOUNDATION EXECUTIVE DIRECTOR 1.00 X 156091 0 22862 DAWN DOBERSTEIN COMMERCIAL LENDER 40.00 X 199016 0 19956 SCOTT YUKEL COMMERCIAL LENDER 40.00 X 186797 0 30330 CHRISTOPHER CUMICEK COMMERCIAL LENDER 40.00 X 181711 0 37988 STEVE GINERIS VP OF RETAIL LENDING 40.00 X 165679 0 9902 CHRIS THELEN FINANCIAL ADVISOR 1.00 X 181781 0 29590 3266552 0 421478 35 0 1 0 FISERV INC PO BOX 934057 ATLANTA GA 311934057 CORE PROCESSOR 3404623 VISA PO BOX 742233 LOS ANGELES CA 900742233 CREDIT & DEBIT CARD SERVICES 1578584 BUSINESS LENDING GROUP INC 2350 N CASALOMA DRIVE STE 100 APPLETON WI 54913 UNDERWRITING SERVICES 1349752 CAPITAL DATA INC 1360 S MOORLAND ROAD STE 200 BROOKFIELD WI 53005 SOFTWARE SERVICES 976560 SAGE 3400 RALEIGH DRIVE SE GRAND RAPIDS MI 495122042 MEMBER STATEMENT DISTRIBUTION 918628 45 INTEREST ON LOANS 522100 93267237 93267237 INTERCHANGE INCOME 522100 12601136 12601136 FEE INCOME 522100 9499137 9449109 50028 OTHER OPERATING INCOME 522100 2481453 2359438 122015 117848963 22567532 22567532 238838 0 238838 238838 238838 3792201 8056 -3792201 -8056 -3800257 -3800257 INCREASE IN CSV OF LIFE INSURANCE 522100 819827 819827 OTHER NON-OPERATING INCOME 522100 322114 322114 1141941 137997017 115018604 172043 22806370 2351569 24690530 1542027 7083996 2090641 261328 260035 3308768 3195640 7210913 2228021 364063 359287 16783384 2990240 433981 DIVIDENDS ON SHARES 34689082 LOAN ORIGINATION AND SE 5665643 MEMBER ACCOUNT/CARD COS 4712793 PROVISION FOR LOAN LOSS 4089343 1740500 126051784 30077819 25999713 59557626 93646318 28548 392792 1787593 1805469 2107584259 2239636979 5149046 4689405 61578032 16795339 44091203 44782693 367730721 341231038 25353457 29922888 33116 9907 52703853 56839000 2694097241 2838956202 33876386 93317805 1851483 1610997 277977675 224367174 2157795647 2270660600 2471501191 2589956576 X 0 0 0 0 222596050 248999626 222596050 248999626 2694097241 2838956202 X 11945233 13738303 720040 X X 0 1 X 1 0 0 1 X 13231786 13231786 37142085 10833227 26308858 67789 2260 65529 9043454 4859087 4184367 2092918 1100765 992153 44782693 SHARES 2270660600 2270660600 137997017 0 137997017 0 137997017 126051784 0 126051784 0 126051784 PART IV, LINE 2B: THE CREDIT UNION MAINTAINS ESCROW ACCOUNTS ASSOCIATED WITH REAL ESTATE MORTGAGES (PROPERTY TAXES AND INSURANCE) FOR MEMBERS. 1 APPLETON DOWNTOWN INC 333 W COLLEGE AVE STE 100 APPLETON WI 54911 391727622 501(C)(6) 14500 0 GENERAL SUPPORT/SPONSOR BIG BROTHERS BIG SISTERS NE WI 520 N BROADWAY SUITE 220 GREEN BAY WI 54303 391274696 501(C)(3) 12000 0 GENERAL SUPPORT/SPONSOR BIG BROTHERS BIG SISTERS OF EAST CENTRAL WI INC 1331 AMERICAN DR NEENAH WI 54956 396103907 501(C)(3) 20000 0 GENERAL SUPPORT/SPONSOR BOYS & GIRLS CLUB OF GREEN BAY INC 1451 UNIVERSITY AVE GREEN BAY WI 54302 396102943 501(C)(3) 10000 0 GENERAL SUPPORT/SPONSOR BOYS & GIRLS CLUB OF THE FOX VALLEY 160 S BADGER ST APPLETON WI 54911 391225709 501(C)(3) 15000 0 GENERAL SUPPORT/SPONSOR BUILDING FOR KIDS 100 W COLLEGE AVE APPLETON WI 54911 391706260 501(C)(3) 17500 0 GENERAL SUPPORT/SPONSOR FEEDING AMERICA EASTERN WI INC 1700 WEST FOND DU LAC AVE MILWAUKEE WI 53205 391384593 501(C)(3) 13588 0 GENERAL SUPPORT/SPONSOR FOX CARE FOUNDATION 2201 E ENTERPRISE AVE APPLETON WI 54913 812961696 501(C)(3) 25175 0 COMMUNITY SUPPORT FOX CITES FESTIVAL OF LIGHTS N9334 NOE RD APPLETON WI 54915 831785413 501(C)(3) 17500 0 GENERAL SUPPORT/SPONSOR FOX CITIES CHAMBER 125 N SUPERIOR ST APPLETON WI 54911 391248133 501(C)(6) 20200 0 GENERAL SUPPORT/SPONSOR FOX CITIES PERFORMING ARTS CENTER 400 W COLLEGE AVE APPLETON WI 54911 391977839 501(C)(3) 50700 0 GENERAL SUPPORT/SPONSOR GOLDEN HOUSE 1120 UNIVERSITY AVE GREEN BAY WI 54302 391342659 501(C)(3) 7135 0 CAPITAL CAMPAIGN GREATER GREEN BAY CHAMBER COMMERCE INC 300 N BROADWAY 3A GREEN BAY WI 54303 390318170 501(C)(6) 11650 0 GENERAL SUPPORT/SPONSOR HISTORY MUSEUM 330 E COLLEGE AVE APPLETON WI 54911 391298304 501(C)(3) 20000 0 GENERAL SUPPORT/SPONSOR LAKESIDE PACKAGING PLUS 1040 BREEZEWOOD LN NEENAH WI 54956 390991818 501(C)(3) 6000 0 GENERAL SUPPORT/SPONSOR LIFE PROMOTIONS 3000 N POINTER RD APPLETON WI 54911 391372893 501(C)(3) 5300 0 GENERAL SUPPORT/SPONSOR MAKE A WISH FOUNDATION OF WISCONSIN INC 11020 W PLANK COURT 200 WAUWATOSA WI 53226 391543541 501(C)(3) 6000 0 GENERAL SUPPORT/SPONSOR MYTEAM TRIUMPH 1406 S JACKSON ST GREEN BAY WI 54301 272300895 501(C)(3) 9000 0 GENERAL SUPPORT/SPONSOR ON BROADWAY INC 340 N BROADWAY STE 165 GREEN BAY WI 54303 391825541 501(C)(3) 56435 0 GENERAL SUPPORT/SPONSOR OSHKOSH CHAMBER OF COMMERCE 120 JACKSON ST OSHKOSH WI 54901 930765817 501(C)(6) 6800 0 GENERAL SUPPORT/SPONSOR OSHKOSH COMMUNITY YMCA 324 WASHINGTON AVE OSHKOSH WI 54901 390878909 501(C)(3) 20000 0 BIKE RIDE OSHKOSH INTO THE NIGHT INC 200 D CITY CENTER OSHKOSH WI 54901 842794186 501(C)(3) 15000 0 GENERAL SUPPORT/SPONSOR OSHKOSH KIDS FOUNDATION 1041 N WESTHAVEN DR OSHKOSH WI 54901 842675271 501(C)(3) 30000 0 GENERAL SUPPORT/SPONSOR OSHKOSH MID MORNING KIWANIS FOUNDATION PO BOX 554 OSHKOSH WI 54903 273296813 501(C)(3) 10000 0 GENERAL SUPPORT/SPONSOR REBUILDING TOGETHER FOX VALLEY 100 W COLLEGE AVE SUITE 50F APPLETON WI 54911 392013200 501(C)(3) 11000 0 GENERAL SUPPORT/SPONSOR ST JOHN THE EVANGELIST HOMELESS SHELTER INC 612 STUART ST GREEN BAY WI 54301 262892934 501(C)(3) 10000 0 GENERAL SUPPORT/SPONSOR THE CHAMBER OF MANITOWOC COUNTY INC 1515 MEMORIAL DRIVE MANITOWOC WI 54220 390465570 501(C)(6) 5200 0 GENERAL SUPPORT/SPONSOR UNITED WAY BROWN COUNTY PO BOX 1593 GREEN BAY WI 54305 390806299 501(C)(3) 12000 0 GENERAL SUPPORT/SPONSOR UNITED WAY FOX CITIES 1455 MIDWAY RD MENASHA WI 54952 390912895 501(C)(3) 22000 0 GENERAL SUPPORT/SPONSOR US VENTURE SCHMIDT FAMILY FOUNDATION 425 BETTER WAY APPLETON WI 54915 391540933 501(C)(3) 35000 0 GENERAL SUPPORT/SPONSOR VOLUNTEER CENTER OF EAST CENTRAL WI 2616 S ONEIDA ST APPLETON WI 54915 391765162 501(C)(3) 7500 0 GENERAL SUPPORT/SPONSOR YMCA OF THE FOX CITES 218 E LAWRENCE ST APPLETON WI 54911 390806191 501(C)(3) 10000 0 GENERAL SUPPORT/SPONSOR 28 5 PART I, LINE 2: NONE - GRANTS AND ASSISTANCE ARE GENERALLY LIMITED TO KNOWN LOCAL ORGANIZATIONS. X 1 1 X X X X 0 1 0 CHRISTOPHER ALLEN PRESIDENT/CEO 489100 0 160250 0 12000 0 19559 0 31496 0 712405 0 0 0 ADAM LANDSVERK CHIEF LENDING OFFICER 229099 0 44000 0 0 0 13379 0 29726 0 316204 0 0 0 NIKI SCHAUMBERG CHIEF FINANCIAL OFFICER 217154 0 32000 0 0 0 14349 0 31496 0 294999 0 0 0 KRISTINE HACKBARTH-HORN CHIEF PEOPLE OFFICER 204706 0 30750 0 0 0 14890 0 31496 0 281842 0 0 0 NANCY KRAHN CHIEF RETAIL OFFICER 212424 0 32000 0 0 0 9487 0 10129 0 264040 0 0 0 MITCHELL MUSIAL GENERAL COUNSEL 200932 0 15000 0 0 0 11129 0 31496 0 258557 0 0 0 KORY KITOWSKI CHIEF INFORMATION OFFICER 205062 0 5000 0 0 0 12659 0 9559 0 232280 0 0 0 CHRISTOPHER CUMICEK COMMERCIAL LENDER 143243 0 38468 0 0 0 6492 0 31496 0 219699 0 0 0 DAWN DOBERSTEIN COMMERCIAL LENDER 150003 0 49013 0 0 0 9827 0 10129 0 218972 0 0 0 SCOTT YUKEL COMMERCIAL LENDER 143087 0 43710 0 0 0 10076 0 20254 0 217127 0 0 0 CHRIS THELEN FINANCIAL ADVISOR 181781 0 0 0 0 0 9336 0 20254 0 211371 0 0 0 CATHY HARVATH FOUNDATION EXECUTIVE DIRECTOR 136091 0 20000 0 0 0 8837 0 14025 0 178953 0 0 0 STEVE GINERIS VP OF RETAIL LENDING 144179 0 21500 0 0 0 9902 0 0 0 175581 0 0 0 PART I, LINE 4B FROM F/S FOOTNOTE 9 - EMPLOYMENT BENEFIT PLANS: THE CREDIT UNION SPONSORS A NONQUALIFIED DEFERRED COMPENSATION PLAN WITH KEY MEMBERS OF ITS MANAGEMENT TEAM. THE CREDIT UNION DOES NOT MAKE CONTRIBUTIONS TO THE PLANS, WHICH ARE FUNDED SOLELY BY THE EMPLOYEES. THE DEFERRED COMPENSATION ACCOUNTS ARE AVAILABLE TO CREDITORS IN THE EVENT OF THE CREDIT UNION'S LIQUIDATION. THE BALANCES OF THESE DEFERRED COMPENSATION AGREEMENTS WAS APPROXIMATELY $1,151,900 AS OF DECEMBER 31, 2023, AND ARE INCLUDED IN PREPAID EXPENSES AND OTHER ASSETS AND ACCRUED EXPENSES AND OTHER LIABILITIES ON THE ACCOMPANYING STATEMENT OF FINANCIAL CONDITION. CHRIS ALLEN PRESIDENT SPLIT DOLLAR LIFE INSURANCE X 1748000 1805469 0 1 1 1805469 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 IS ELECTED BY THE MEMBERSHIP UTILIZING THEIR ONE VOTE PER MEMBER. 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 IN THE ORGANIZATION'S BYLAWS. ANY DECISION TO DISSOLVE OR MERGE THE ORGANIZATION REQUIRES APPROVAL OF MEMBERSHIP, UNLESS MANDATED BY A REGULATORY AGENCY (I.E., NCUA, WISCONSIN OFFICE OF CREDIT UNIONS). FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER AND THE PRESIDENT/CEO PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C NO DIRECTOR, OFFICER, COMMITTEEMEMBER, AGENT, OR EMPLOYEE OF THIS CREDIT UNION SHALL IN ANY MANNER, DIRECTLY OR INDIRECTLY, PARTICIPATE IN THE DELIBERATION UPON OR THE DETERMINATION OF ANY QUESTION AFFECTING HIS OR HER PECUNIARY OR PERSONAL INTEREST OR THE PECUNIARY INTEREST OF ANY ORGANIZATION OR ASSOCIATION IN WICH THE PERSON IS DIRECTLY OR INDIRECTLY INTERESTED. IN THE EVENT OF DISQUALIFICATION, THE DIRECTOR OR COMMITTEE MEMBER SHALL WITHDRAW FROM THE DELIBERATION OR DETERMINATION. IF A DIRECTOR OR COMMITTEE MEMBER WITHDRAWS FROM ANY DELIBERAION OR DETERMINATION, THE REMAINING QUALIFIED DIRECTORS OR COMMITTEE MEMBERS PRESENT AT THE MEETING MAY EXERCISE ALL POWERS OF THE BOARD OR COMMITTEE, PROVIDED THE NUMBER OF DIRECTORS OR COMMITTEE MEMBERS PRESENT, INCLUDING THE DISQUALIFIED DIRECTORS OR COMMITTEE MEMBERS, CONSTITUTES A QUORUM. ALL INTERESTED PERSONS MUST COMPLETE, SIGN, AND RETURN IMMEDIATELY FOLLOWING THE ANNUAL ORGANIZATION MEETING OF THE CREDIT UNION'S BOARD OF DIRECTORS, A "CONFLICT OF INTEREST" WHICH DISCLOSES ANY RELAIONSHIP THAT MIGHT CONSTITUTE AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST TO THE CREDIT UNION. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S COMPENSATION IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. FOR OTHER OFFICERS, THE ORGANIZATION USES THIRD PARTY SURVEYS TO CONDUCT A MARKET ANALYSIS OF ALL THE POSITIONS AT THE CREDIT UNION. THE ORGANIZATION ALSO REGULARLY REFERS TO THE CUES COMPENSATION INFORMATION AND THE CUNA WAGE SURVEY AVAILABLE THROUGH THEIR MEMBERSHIP TO THESE ORGANIZATIONS. FOR THE MOST RECENT OFFICER HIRES, THE ORGANIZATION USES RECRUITING FIRMS THAT WERE ENGAGED TO FIND OFFICERS FOR THE ORGANIZATION FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: ADJUSTMENT FOR IMPLEMENTATION OF ASC 326 720,038. ROUNDING 2. FORM 990, PART XI, LINE 2C NO CHANGES TO THE OVERSIGHT PROCESS FROM THE PRIOR YEAR. BENEFIT SERVICES INC 2201 E ENTERPRISE AVE APPLETON WI 54913 391657363 INSURANCE SALES WI FOX COMMUNITIES CREDIT UNION C 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0