SUMMIT CREDIT UNION: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- SUMMIT CREDIT UNION (EIN 39-0230585)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-15
- IRS object ID
- 202423209349306522
- 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 | 2024-11-15T09:43:24-06:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 410746749 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CLIFTONLARSONALLEN LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 109 N MAIN STREET SUITE 200 | AddressLine1Txt |
| City | AUSTIN | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55912 | 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 | 390230585 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SUMMIT CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SUMM | BusinessNameControlTxt |
| Phone | 6082435000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 8046 | AddressLine1Txt |
| City | MADISON | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 537088046 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | KEITH PETERSON | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 6082435000 | PhoneNum |
| Signature | 2024-11-13 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | TANYA MEDGAARDEN | PreparerPersonNm |
| PTIN | P01717240 | PTIN |
| Phone | 5074347000 | PhoneNum |
| Preparation | 2024-11-13 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | KIM SPONEM | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 8046 | AddressLine1Txt |
| City | MADISON | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 537088046 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $583,116,236 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.SUMMITCREDITUNION.COM | WebsiteAddressTxt |
| Type Of Organization Other | Yes (X) | TypeOfOrganizationOtherInd |
| Other Organization Dsc | CU | OtherOrganizationDsc |
| Formation | 1935 | 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 AN OPPORTUNITY FOR ITS MEMBERS TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 11 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 11 | VotingMembersIndependentCnt |
| Total Employee | 1137 | TotalEmployeeCnt |
| Total Volunteers | 14 | TotalVolunteersCnt |
| Total Gross UBI | $127,866 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $211,554,475 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $319,159,275 | CYProgramServiceRevenueAmt |
| PY Investment Income | $19,169,470 | PYInvestmentIncomeAmt |
| CY Investment Income | $25,398,039 | CYInvestmentIncomeAmt |
| PY Other Revenue | $367,748 | PYOtherRevenueAmt |
| CY Other Revenue | $18,360 | CYOtherRevenueAmt |
| PY Total Revenue | $231,091,693 | PYTotalRevenueAmt |
| CY Total Revenue | $344,575,674 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $936,656 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $648,432 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $17,583,444 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $83,841,302 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $70,565,634 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $84,292,025 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $90,649,921 | PYOtherExpensesAmt |
| CY Other Expenses | $124,664,847 | CYOtherExpensesAmt |
| PY Total Expenses | $179,735,655 | PYTotalExpensesAmt |
| CY Total Expenses | $293,446,606 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $51,356,038 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $51,129,068 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $6,224,510,320 | TotalAssetsBOYAmt |
| Total Assets EOY | $6,945,113,848 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $5,676,758,326 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $6,333,434,715 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $547,751,994 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $611,679,133 | 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 AN OPPORTUNITY FOR ITS MEMBERS TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | SUMMIT SERVED OVER 257,000 MEMBERS IN 2023. THE CREDIT UNION CONTINUED TO OFFER ATTRACTIVE RATES ON VARIOUS SAVING AND LENDING PRODUCTS TO HELP MEMBERS IMPROVE THEIR FINANCIAL POSITION. LOANS AND DEPOSITS EACH GREW 13% DURING 2023. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | SUMMIT OPERATES BRANCHES IN FOUR HIGH SCHOOLS TO SERVE STUDENTS. WE OFFER ADDITIONAL FINANCIAL EDUCATION SESSIONS IN THE COMMUNITIES WE SERVE. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | WE SUPPORT NUMEROUS COMMUNITY ORGANIZATIONS, INCLUDING UNITED WAY, GOODMAN COMMUNITY CENTER, URBAN LEAGUE AND NATIONAL CREDIT UNION FOUNDATION. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | 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 | Yes (1) | 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 | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | 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 | Yes (1) | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | Yes (1) | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | Yes (1) | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 291722 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 1137 | 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 |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | Yes (1) | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 11 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 11 | 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 | 0 | 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 |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KEITH PETERSON | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6082435000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 8046 | AddressLine1Txt |
| City | MADISON | CityNm |
| State Abbreviation | WI | StateAbbreviationCd |
| ZIP | 53708 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (27 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| MARY TURKE | ||||||||
| CHAIR (PART YEAR) | 4.00 | Yes (X) | Yes (X) | $24,000 | $0 | $0 | ||
| MIKE SCHENK | ||||||||
| TREASURER | 4.00 | Yes (X) | Yes (X) | $18,000 | $0 | $0 | ||
| DANIEL KAISER | ||||||||
| CHAIR | 4.00 | Yes (X) | Yes (X) | $18,000 | $0 | $0 | ||
| BOB LINDNER | ||||||||
| VICE CHAIR | 4.00 | Yes (X) | Yes (X) | $18,000 | $0 | $0 | ||
| STEFANIE NORVAISAS | ||||||||
| SECRETARY | 4.00 | Yes (X) | Yes (X) | $18,000 | $0 | $0 | ||
| DAVID RESZEL | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $18,000 | $0 | $0 | |||
| DENNIS SAUEY | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $18,000 | $0 | $0 | |||
| JOHN LITSCHER | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $18,000 | $0 | $0 | |||
| MIKE O'BRIEN | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $18,000 | $0 | $0 | |||
| ABIGAIL RODRIGUEZ | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $18,000 | $0 | $0 | |||
| SAMIRA SALEM | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| KIM SPONEM | ||||||||
| CEO/PRESIDENT | 50.00 | Yes (X) | $2,355,714 | $0 | $88,748 | |||
| KEITH PETERSON | ||||||||
| CFO | 50.00 | Yes (X) | $433,051 | $0 | $237,099 | |||
| CHRISTOPHER HEFTER | ||||||||
| CIO | 50.00 | $440,546 | $0 | $177,978 | Yes (X) | |||
| REBECCA GEROTHANAS | ||||||||
| COO | 50.00 | $455,983 | $0 | $131,357 | Yes (X) | |||
| CHRISTOPHER SCHELL | ||||||||
| CMO | 50.00 | $310,843 | $0 | $186,096 | Yes (X) | |||
| KELLY ERBACH | ||||||||
| VP - BUSINESS TECH SOLUTIO | 40.00 | $256,537 | $0 | $178,111 | Yes (X) | |||
| KEVIN PIETTE | ||||||||
| CHIEF COMMERCIAL BUS SERV OFFICER | 50.00 | $364,150 | $0 | $61,308 | Yes (X) | |||
| ERIC MATHIAS | ||||||||
| SVP - SALES & LENDING OPS | 40.00 | $344,710 | $0 | $70,795 | Yes (X) | |||
| JEREMY EPPLER | ||||||||
| VP - RISK MANAGEMENT | 40.00 | $195,320 | $0 | $20,767 | Yes (X) | |||
| ANN KNUTSON | ||||||||
| SVP - HR & ORG DEVELOPMENT | 40.00 | $152,807 | $0 | $24,874 | Yes (X) | |||
| THOMAS HOPP | ||||||||
| VP OF SALES - BUSINESS SERVICES | 40.00 | $334,862 | $0 | $56,101 | Yes (X) | |||
| JAMES HOLDEN | ||||||||
| VP - BLO MARKET MANAGER | 40.00 | $215,203 | $0 | $77,641 | Yes (X) | |||
| JOHN JONES | ||||||||
| VP - BUSINESS & COMMERCIAL CREDIT RISK & OPERATION | 40.00 | $229,428 | $0 | $56,903 | Yes (X) | |||
| JONATHAN WILLEMS | ||||||||
| VP - BLOW MARKET MANAGER - BUSINESS SERVICES | 40.00 | $222,656 | $0 | $36,504 | Yes (X) | |||
| LUKE HAGEL | ||||||||
| VP - BLO MARKET MANAGER - BUSINESS SERVICES | 40.00 | $218,330 | $0 | $29,996 | Yes (X) | |||
| JAMES CORBETT | ||||||||
| SVP - HR & OD | 50.00 | $100,713 | $0 | $12,609 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $6,816,853 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $1,446,887 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 114 | 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 |
|---|---|---|---|---|---|
| HIEBING GROUP INC | |||||
| 315 WISCONSIN AVE | MADISON | WI | 53703 | MARKETING | $7,229,034 |
| J H FINDORFF & SON INC | |||||
| 300 S BEDFORD ST | MADISON | WI | 53703 | CONSTRUCTION | $3,258,079 |
| PARAGON DEVELOPMENT SYSTEMS | |||||
| PO BOX 772990 | DETROIT | MI | 482770990 | HARDWARE SUPPLIER | $1,973,792 |
| JACK HENRY & ASSOCIATES INC | |||||
| PO BOX 609 | MONETT | MO | 65708 | INFORMATION TECHNOLOGY | $1,910,522 |
| EDGE ONE | |||||
| 161 BUSINESS PARK CIRCLE | STOUGHTON | WI | 53589 | KIOSK SERVICES | $1,742,634 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 130 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| LOAN INTEREST | 522100 | $263,796,593 | $263,796,593 | |
| OTHER OPERATING INCOME | 522100 | $36,007,321 | $36,007,321 | |
| FEES & SERVICE CHGS | 522100 | $19,355,361 | $19,227,495 | $127,866 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $319,159,275 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $21,347,074 | TotalRevenueColumnAmt |
| Exclusion | $21,347,074 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $242,591,527 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $238,540,562 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $4,050,965 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $4,050,965 | TotalRevenueColumnAmt |
| Exclusion | $4,050,965 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER NON-INTEREST INCOME | Desc |
| Business | 522100 | BusinessCd |
| Total Revenue Column | $18,360 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $18,360 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $18,360 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $344,575,674 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $319,049,769 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $127,866 | UnrelatedBusinessRevenueAmt |
| Exclusion | $25,398,039 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $648,432 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $83,841,302 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,672,794 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $60,154,497 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,001,973 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,548,978 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,913,783 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,443,541 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $82,128 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,527,129 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $33,329,888 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,331,834 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,259,098 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $26,457,292 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,333,600 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PROVISION FOR CREDIT LO | $18,494,536 |
| LOAN SERVICING EXPENSE | $12,272,832 |
| MISC. OPERATING EXPENSE | $4,826,208 |
| OPERATING FEES | $306,761 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $293,446,606 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $59,269,845 | BOYAmt |
| EOY | $59,300,715 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $223,143,126 | BOYAmt |
| EOY | $362,653,272 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,021,223 | BOYAmt |
| EOY | $928,147 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,607,124 | BOYAmt |
| EOY | $18,972,929 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,977,668,060 | BOYAmt |
| EOY | $5,603,055,215 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,224,087 | BOYAmt |
| EOY | $6,657,852 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $217,466,413 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $76,016,977 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $140,855,042 | BOYAmt |
| EOY | $141,449,436 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $552,213,483 | BOYAmt |
| EOY | $490,030,557 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $34,490,737 | BOYAmt |
| EOY | $36,491,746 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $133,094,030 | BOYAmt |
| EOY | $127,665,853 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $79,923,563 | BOYAmt |
| EOY | $97,908,126 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,224,510,320 | BOYAmt |
| EOY | $6,945,113,848 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $72,311,513 | BOYAmt |
| EOY | $74,203,756 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,414,630 | BOYAmt |
| EOY | $12,858,766 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $805,406,744 | BOYAmt |
| EOY | $836,550,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,781,625,439 | BOYAmt |
| EOY | $5,409,822,193 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,676,758,326 | BOYAmt |
| EOY | $6,333,434,715 | 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 | $547,751,994 | BOYAmt |
| EOY | $611,679,133 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $547,751,994 | BOYAmt |
| EOY | $611,679,133 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,224,510,320 | BOYAmt |
| EOY | $6,945,113,848 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $51,129,068 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $16,155,892 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$3,357,821 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| 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) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
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 | $25,499,060 | OtherCostOrOtherBasisAmt |
| Book Value | $25,499,060 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $134,741,283 | OtherCostOrOtherBasisAmt |
| Depreciation | $38,613,879 | DepreciationAmt |
| Book Value | $96,127,404 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $7,362,626 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,336,411 | DepreciationAmt |
| Book Value | $4,026,215 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $45,214,980 | OtherCostOrOtherBasisAmt |
| Depreciation | $34,066,687 | DepreciationAmt |
| Book Value | $11,148,293 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,648,464 | OtherCostOrOtherBasisAmt |
| Book Value | $4,648,464 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $141,449,436 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (2 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| AVAILABLE FOR SALE INVESTMENTS | $487,705,998 | F |
| EQUITY SECURITIES | $2,324,559 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $490,030,557 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| MEMBER SHARES AND DEPOSITS | $5,329,454,693 |
| NONMEMBER DEPOSITS | $79,067,500 |
| OFF BALANCE SHEET CREDIT EXPOSURE | $1,300,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $5,409,822,193 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $344,655,000 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $344,655,000 | RevenueSubtotalAmt |
| Other Revenues Not Included | -$79,326 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | -$79,326 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $344,575,674 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $293,526,000 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $293,526,000 | ExpensesSubtotalAmt |
| Other Expenses Not Included | -$79,394 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | -$79,394 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $293,446,606 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | THE CREDIT UNION ACTS AS A CUSTODIAN FOR AMOUNTS IN ESCROW FOR LOANS TO MEMBERS. |
| PART X, LINE 2: | THE CREDIT UNION IS EXEMPT, UNDER INTERNAL REVENUE CODE 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 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 POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. AS A RESULT, 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 SUBSEQUENT TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | EXP INCLUDED IN REV FOR 990 -79,326. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | EXP INCLUDED IN REV FOR 990 -79,326. ROUNDING -68. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (23 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| UNITED WAY OF DANE COUNTY | ||||||||
| PO BOX 7548 | MADISON | WI | 53707 | 390817532 | 501(C)(3) | $84,896 | $0 | COMMUNITY SUPPORT |
| BOYS & GIRLS CLUB OF DANE COUNTY | ||||||||
| 1818 W BELTLINE HWY | MADISON | WI | 53713 | 391925617 | 501(C)(3) | $50,000 | $0 | GENERAL SUPPORT & FINANCIAL EDUCATION |
| WORLDWISE FOUNDATION FOR CREDIT UNIONS | ||||||||
| 5710 MINERAL POINT RD | MADISON | WI | 537054493 | 396093210 | 501(C)(3) | $40,870 | $0 | GENERAL SUPPORT |
| MADISON COLLEGE FOUNDATION | ||||||||
| 1701 WRIGHT STREET | MADISON | WI | 53704 | 237265867 | 501(C)(3) | $40,206 | $0 | GENERAL SUPPORT |
| THE RIVER FOOD PANTRY | ||||||||
| 2201 DARWIN RD | MADISON | WI | 53704 | 204179749 | 501(C)(3) | $17,668 | $0 | GENERAL SUPPORT |
| URBAN LEAGUE OF GREATER MADISON | ||||||||
| 2222 S PARK ST STE 200 | MADISON | WI | 53713 | 391098146 | 501(C)(3) | $16,000 | $0 | GENERAL SUPPORT |
| CENTRO HISPANO OF DANE CO | ||||||||
| 810 W BADGER RD | MADISON | WI | 53713 | 930844812 | 501(C)(3) | $15,500 | $0 | GENERAL SUPPORT |
| FOUNDATION FOR BLACK WOMENS WELLNESS | ||||||||
| PO BOX 259831 | MADISON | WI | 53725 | 460832901 | 501(C)(3) | $15,000 | $0 | SPONSORSHIP OF BLACK WOMEN'S WELLNESS DAY |
| MADISON PUBLIC MARKET FOUNDATION INC | ||||||||
| PO BOX 260026 | MADISON | WI | 53726 | 822666213 | 501(C)(3) | $15,000 | $0 | GENERAL SUPPORT |
| BAYVIEW FOUNDATION INC | ||||||||
| 601 BAY VIEW | MADISON | WI | 53715 | 396092644 | 501(C)(3) | $15,000 | $0 | GENERAL SUPPORT |
| BLACK MEN COALITION OF DANE COUNTY | ||||||||
| 5 N PINCKNEY ST | MADISON | WI | 53703 | 881460639 | 501(C)(3) | $14,600 | $0 | GENERAL SUPPORT |
| SUN PRAIRIE PUBLIC LIBRARY FOUNDATION | ||||||||
| 1350 LINNERUD DRIVE | SUN PRAIRIE | WI | 53590 | 391988151 | 501(C)(3) | $12,500 | $0 | GENERAL SUPPORT |
| CEOS OF TOMORROW | ||||||||
| 2702 INTERNATIONAL LANE | MADISON | WI | 53704 | 300941154 | 501(C)(3) | $10,500 | $0 | GENERAL SUPPORT |
| WISCONSIN HISTORICAL FOUNDATION INC | ||||||||
| PO BOX 260050 816 STATE STREET | MADISON | WI | 53726 | 390921093 | 501(C)(3) | $10,000 | $0 | GENERAL SUPPORT |
| CLIMB | ||||||||
| 6666 ODANA RD 221 | MADISON | WI | 53719 | 861598626 | 501(C)(3) | $10,000 | $0 | GENERAL SUPPORT |
| RISE WISCONSIN INC | ||||||||
| 2120 FORDEM AVE | MADISON | WI | 53704 | 912064768 | 501(C)(3) | $10,000 | $0 | GENERAL SUPPORT |
| UNITED WAY OF DANE COUNTY WOMEN UNITED | ||||||||
| PO BOX 7548 | MADISON | WI | 53707 | 390817532 | 501(C)(3) | $9,500 | $0 | GENERAL SUPPORT |
| GOODMAN COMMUNITY CENTER | ||||||||
| 214 WAUBESA ST | MADISON | WI | 53704 | 391919172 | 501(C)(3) | $8,500 | $0 | GENERAL SUPPORT |
| NATIONAL CREDIT UNION FOUNDATION | ||||||||
| PO BOX 78880 | MILWAUKEE | WI | 532780880 | 391383650 | 501(C)(3) | $8,400 | $0 | NCUF BRONZE SPONSORSHIP |
| WAUNAKEE AREA EDUCATION FOUNDATION | ||||||||
| 905 BETHEL CIRCLE | WAUNAKEE | WI | 53597 | 391617660 | 501(C)(3) | $7,500 | $0 | GENERAL SUPPORT |
| KETTLE MORAINE YMCA | ||||||||
| 1111 W WASHINGTON ST | WEST BEND | WI | 53095 | 391175559 | 501(C)(3) | $6,000 | $0 | GENERAL SUPPORT |
| MADISON PUBLIC SCHOOLS FOUNDATION | ||||||||
| 2005 W BELTLINE HIGHWAY STE 203 | MADISON | WI | 53713 | 392043104 | 501(C)(3) | $5,500 | $0 | GENERAL SUPPORT |
| COMMUNITY SHARES OF WI | ||||||||
| 931 E MAIN STREET | MADISON | WI | 53703 | 391172378 | 501(C)(3) | $5,159 | $0 | GENERAL SUPPORT |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 23 | Total501c3OrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE CU DOES MAINTAIN RECORDS TO SUBSTANTIATE THE AMOUNTS, THE GRANTEES' ELIGIBILITY, AND THE SELECTION CRITERIA. THE GRANTS ARE NOT CONTINGENT ON THE FUNDS BEING USED FOR A PARTICULAR PROJECT OR THEY MUST BE RETURNED, SO THE CU DOES NOT MONITOR HOW A PARTICULAR DONATION WAS USED. RECIPIENTS ARE TYPICALLY 501(C)(3) ORGANIZATIONS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Personal Services | Yes (X) | PersonalServicesInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (15 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| KIM SPONEM | ||||||||||||||
| CEO/PRESIDENT | $1,607,075 | $0 | $716,454 | $0 | $32,185 | $0 | $86,097 | $0 | $2,651 | $0 | $2,444,462 | $0 | $0 | $0 |
| KEITH PETERSON | ||||||||||||||
| CFO | $353,087 | $0 | $76,400 | $0 | $3,564 | $0 | $215,362 | $0 | $21,737 | $0 | $670,150 | $0 | $0 | $0 |
| CHRISTOPHER HEFTER | ||||||||||||||
| CIO | $348,573 | $0 | $84,078 | $0 | $7,895 | $0 | $155,171 | $0 | $22,807 | $0 | $618,524 | $0 | $0 | $0 |
| REBECCA GEROTHANAS | ||||||||||||||
| COO | $338,294 | $0 | $95,352 | $0 | $22,337 | $0 | $108,000 | $0 | $23,357 | $0 | $587,340 | $0 | $0 | $0 |
| CHRISTOPHER SCHELL | ||||||||||||||
| CMO | $246,772 | $0 | $60,507 | $0 | $3,564 | $0 | $168,209 | $0 | $17,887 | $0 | $496,939 | $0 | $0 | $0 |
| KELLY ERBACH | ||||||||||||||
| VP - BUSINESS TECH SOLUTIO | $203,424 | $0 | $49,549 | $0 | $3,564 | $0 | $163,427 | $0 | $14,684 | $0 | $434,648 | $0 | $0 | $0 |
| KEVIN PIETTE | ||||||||||||||
| CHIEF COMMERCIAL BUS SERV OFFICER | $285,954 | $0 | $75,328 | $0 | $2,868 | $0 | $44,585 | $0 | $16,723 | $0 | $425,458 | $0 | $0 | $0 |
| ERIC MATHIAS | ||||||||||||||
| SVP - SALES & LENDING OPS | $278,184 | $0 | $62,886 | $0 | $3,640 | $0 | $50,488 | $0 | $20,307 | $0 | $415,505 | $0 | $0 | $0 |
| THOMAS HOPP | ||||||||||||||
| VP OF SALES - BUSINESS SERVICES | $225,250 | $0 | $105,448 | $0 | $4,164 | $0 | $35,431 | $0 | $20,670 | $0 | $390,963 | $0 | $0 | $0 |
| JAMES HOLDEN | ||||||||||||||
| VP - BLO MARKET MANAGER | $185,419 | $0 | $23,618 | $0 | $6,166 | $0 | $56,373 | $0 | $21,268 | $0 | $292,844 | $0 | $0 | $0 |
| JOHN JONES | ||||||||||||||
| VP - BUSINESS & COMMERCIAL CREDIT RI | $197,318 | $0 | $24,652 | $0 | $7,458 | $0 | $40,766 | $0 | $16,137 | $0 | $286,331 | $0 | $0 | $0 |
| JONATHAN WILLEMS | ||||||||||||||
| VP - BLOW MARKET MANAGER - BUSINESS | $155,305 | $0 | $66,334 | $0 | $1,017 | $0 | $16,197 | $0 | $20,307 | $0 | $259,160 | $0 | $0 | $0 |
| LUKE HAGEL | ||||||||||||||
| VP - BLO MARKET MANAGER - BUSINESS S | $151,051 | $0 | $66,278 | $0 | $1,001 | $0 | $15,657 | $0 | $14,339 | $0 | $248,326 | $0 | $0 | $0 |
| JEREMY EPPLER | ||||||||||||||
| VP - RISK MANAGEMENT | $168,362 | $0 | $22,391 | $0 | $4,567 | $0 | $19,156 | $0 | $1,611 | $0 | $216,087 | $0 | $0 | $0 |
| ANN KNUTSON | ||||||||||||||
| SVP - HR & ORG DEVELOPMENT | $100,096 | $0 | $51,683 | $0 | $1,028 | $0 | $15,413 | $0 | $9,461 | $0 | $177,681 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | KIM SPONEM - HEALTH CLUB $1,032 KIM SPONEM - PERSONAL SERVICES $2,262 |
| PART I, LINE 4B | KEITH PETERSON-PARTICIPATED IN 457(F) NON-QUALIFIED PLAN - NO DISTRIBUTIONS IN 2023 REBECCA GEROTHANAS-PARTICIPATED IN 457(F) NON-QUALIFIED PLAN - NO DISTRIBUTIONS IN 2023 CHRIS SCHELL-PARTICIPATED IN 457(F) NON-QUALIFIED PLAN - NO DISTRIBUTIONS IN 2023 CHRIS HEFTER-PARTICIPATED IN 457(F) NON-QUALIFIED PLAN - NO DISTRIBUTIONS IN 2023 |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (3 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| KIM SPONEM | |||||||
| CEO/PRESIDENT | SPLIT-DOLLAR LIFE INSURANCE | Yes (X) | $12,852,659 | $13,754,733 | 0 | Yes (1) | Yes (1) |
| REBECCA GEROTHANAS | |||||||
| CHIEF OPERATIONS OFFICER | SPLIT-DOLLAR LIFE INSURANCE | Yes (X) | $4,591,500 | $4,620,196 | 0 | Yes (1) | Yes (1) |
| CHRIS HEFTER | |||||||
| CHIEF INFORMATION OFFICER | SPLIT-DOLLAR LIFE INSURANCE | Yes (X) | $598,000 | $598,000 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $18,972,929 | TotalBalanceDueAmt |
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (2 entries)
| Relationship DescriptionRelationshipDescriptionTxt | TransactionTransactionAmt | TransactionTransactionDesc | Sharing Of RevenuesSharingOfRevenuesInd |
|---|---|---|---|
| TURKE & STRAUSS LLP | |||
| SUMMIT BOARD MEMBER MARY TURKE | $1,059,881 | LEGAL SERVICES | 0 |
| CU DIRECT CORPORATION - ORIGENCE | |||
| SUMMIT CEO IS ON BOARD OF CU DIRECT | $131,164 | INDIRECT LENDING SERVICES | 0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE CREDIT UNION IS COMPRISED OF A SINGLE CLASS OF MORE THAN 200,000 MEMBER-OWNERS, EACH OF WHICH HAS EQUAL RIGHTS IN OWNERSHIP, GOVERNANCE AND VOTING RIGHTS AT THE ANNUAL MEETINGS, WITH THE EXCEPTION OF THE MEMBER-OWNERS WHO ARE ELECTED TO THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE MEMBER-OWNERS OF THE CREDIT UNION HAVE THE AUTHORITY TO ELECT THE MEMBERS OF THE BOARD OF DIRECTORS FOR THREE-YEAR TERMS ON A ROTATING BASIS. CANDIDATES ARE ELECTED BY A SIMPLE PLURALITY VOTE. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE BY-LAWS MAY BE AMENDED, ALTERED OR REPEALED IN ANY MANNER NOT INCONSISTENT WITH APPLICABLE LAW BY A MAJORITY VOTE OF THE BOARD AT ANY DULY CONVENED MEETING OF THE BOARD. THESE BY-LAWS MAY BE AMENDED BY THREE-FOURTHS MAJORITY VOTE OF THE MEMBERS PRESENT AT ANY ANNUAL OR SPECIAL MEETING OF THE MEMBERS, IF ALL NOTICE AND OTHER REQUIREMENTS APPLICABLE TO AMENDMENT OF THESE BY-LAWS ARE SATISFIED. NO AMENDMENT, ALTERATION, OR REPEAL OF THESE BYLAWS SHALL BECOME EFFECTIVE UNTIL FILED WITH AND APPROVAL BY THE OFFICE OF CREDIT UNIONS. MEMBERS ALSO VOTE ON APPROVAL OF A NAME CHANGE. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 IS REVIEWED BY THE VP-RISK MANAGEMENT AND CFO PRIOR TO FILING. IF THERE IS UNCERTAINTY ABOUT A RESPONSE, THEY WILL CONSULT WITH THE APPROPRIATE SUBJECT MATTER EXPERT. |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL EMPLOYEES AND VOLUNTEERS ARE COVERED BY THE CONFLICT OF INTEREST POLICY, WHICH PROHIBITS ENGAGING IN TRANSACTIONS WITH PARTIES WHERE A CONFLICT EXISTS. ALL STAFF RECEIVE ANNUAL TRAINING ON CONFLICT OF INTEREST AND ARE REQUIRED TO RE-READ THE DOCUMENT ANNUALLY. THE CORE SYSTEM ALSO PROHIBITS EMPLOYEES FROM COMPLETING TRANSACTIONS ON ACCOUNTS THAT CONTAIN THEIR SOCIAL SECURITY NUMBER OR ADDRESS. VARIOUS MONTHLY FRAUD MONITORING REPORTS ARE REVIEWED BY RISK MANAGEMENT. POTENTIAL CONFLICTS ARE DISCUSSED WITH THE VP RISK MANAGEMENT AND FACILITIES, AND ESCALATED TO THE SVP HR AND ORGANIZATIONAL DEVELOPMENT, CFO, AND CEO/PRESIDENT AS NEEDED. |
| FORM 990, PART VI, SECTION B, LINE 15 | ALL POSITIONS ARE CLASSIFIED WITHIN SALARY BANDS. EACH YEAR, ALL SALARY BANDS ARE REVIEWED AND MAY BE ADJUSTED TO REFLECT JOB MARKET CHANGES TO ENSURE THAT POSITIONS ARE CLASSIFIED APPROPRIATELY. EVERY TWO TO THREE YEARS ALL POSITIONS ARE RE-EVALUATED USING MULTIPLE EXTERNAL RESOURCES IN THIS PROCESS. THE CEO'S COMPENSATION IS REVIEWED BY THE BOARD EACH YEAR AND MULTIPLE SOURCES ARE USED. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. |
| FORM 990, PART VI, SECTION C, LINE 19 | GOVERNING DOCUMENTS ARE PROVIDED TO MEMBERS UPON REQUEST. FINANCIAL STATEMENTS ARE PRESENTED IN THE ANNUAL REPORT AND AVAILABLE FOR DOWNLOAD FROM NCUA. |
| FORM 990, PART XI, LINE 9: | CHANGE IN OCI -4,310,185. CECL ADJUSTMENT 952,364. |
| FORM 990, PART XII, LINE 2C: | THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |