2021-05-11T17:20:48-05:00 2020-12-31 390758449 WIPFLI LLP PO BOX 8010 WAUSAU WI 544028010 990 2020-01-01 390571035 RIPCO CREDIT UNION RIPC 7153654800 121 SUTLIFF AVENUE RHINELANDER WI 54501 LIZA EDINGER PRESIDENT/CEO 7153654800 2021-05-07 1 LIZA EDINGER 999009999 MARY A COATES CPA P00134220 7158453111 2021-05-07 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z LIZA EDINGER 121 SUTLIFF AVENUE RHINELANDER WI 54501 7422207 0 2157 X WWW.RIPCO.ORG X 1932 WI THROUGH OUR "ATTITUDE OF EXCELLENCE" RIPCO CREDIT UNION DELIVERS EXCEPTIONAL FINANCIAL SERVICES WHILE BUILDING LIFELONG RELATIONSHIPS - ONE MEMBER AT A TIME. 7 7 54 9 6380 0 0 0 6127882 6422575 1039708 842466 35134 17336 7202724 7282377 7702 3600 0 0 2693050 3102672 0 0 0 3508827 3301806 6209579 6408078 993145 874299 136462185 163667640 121557642 147638473 14904543 16029167 X THROUGH OUR "ATTITUDE OF EXCELLENCE" RIPCO CREDIT UNION DELIVERS EXCEPTIONAL FINANCIAL SERVICES WHILE BUILDING LIFELONG RELATIONSHIPS - ONE MEMBER AT A TIME. 0 0 RIPCO CREDIT UNION SERVES OVER 12,000 MEMBERS. WE PROVIDE LOANS TO MEMBERS AND PAY DIVIDENDS ON MEMBER SHARE ACCOUNTS, SHAREDRAFT ACCOUNTS, AND CERTIFICATES. RIPCO ACTIVELY PROMOTES THRIFT TO YOUNG PEOPLE IN THE COMMUNITIES WE SERVE. THE HONEY POT CLUB IS AN EXCLUSIVE SAVINGS CLUB FOR KIDS AGE 12 AND UNDER. CHILDREN ARE ENCOURAGED TO BRING THEIR OWN TRANSACTIONS TO THE CREDIT UNION AND RECEIVE A PRIZE FOR EACH DEPOSIT. MEMBERS OF THE CLUB ALSO RECEIVE PERSONAL INVITATIONS TO HONEY POT PROGRAMS, PARTIES, AND EVENTS THROUGHOUT THE YEAR. A SEPARATE CHECKING ACCOUNT HAS BEEN DEVELOPED GEARED TOWARDS YOUNG ADULTS. ANY MEMBER BETWEEN THE AGE OF 15 AND 25 ARE ELIGIBLE. REQUIREMENTS TO PARTICIPATE IN THE PROGRAM INCLUDE ENROLLMENT IN ONLINE BANKING, E-STATEMENTS, AND E-NOTICES. BENEFITS OF THE PROGRAM CONSIST OF WAIVED CHECK CASHING FEES AND COIN MACHINE USAGE FEES, ATM SURCHARGE REFUNDS UP TO $10/MONTH AND SPECIALIZED PERIODIC PROMOTIONS AND INCENTIVES.RIPCO ALSO OPENED A LIMITED SERVICE BRANCH AT THE LOCAL HIGH SCHOOL TO PROMOTE SAVING AMONGST LOCAL YOUTH. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 4142 0 1 54 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 0 1 1 1 0 X LIZA EDINGER 7153654800 121 SUTLIFF AVENUE RHINELANDER WI 54501 JAMES LEVANDOSKI VP OF LENDING 40.00 X 105545 0 10661 LIZA EDINGER PRESIDENT/CEO 40.00 X 154219 0 43033 STEVEN FERCH CHAIRMAN 1.00 X X 2800 0 0 ROD OLSON VICE CHAIRMAN 1.00 X X 1650 0 0 HEATHER SCHALLOCK TREASURER 1.00 X X 1800 0 0 MAGGIE STEFFEN SECRETARY 1.00 X X 1700 0 0 BILL VANCOS SECRETARY (THRU FEB) 1.00 X X 300 0 0 ALYSSA BORSKI DIRECTOR 1.00 X 1100 0 0 RICK ZOERB DIRECTOR 1.00 X 900 0 0 GRACE ZUIKER NASH DIRECTOR 1.00 X 1100 0 0 271114 0 53694 2 0 1 0 CUANSWERS 6000 28TH STREET SE SUITE 100 GRAND RAPIDS MI 49546 CORE DATA PROCESSOR 292023 STAR SYSTEMS INC 1100 CARR RD WILMINGTON DE 19809 DEBIT CARD PROCESSOR 284036 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT CARD PROCESSOR 118879 3 INTEREST ON LOANS 522100 4769558 4769558 FEE INCOME 522100 1202506 1196126 6380 INTERCHANGE INCOME 522100 84653 84653 SALE OF INSURANCE 522100 41306 41306 324552 324552 6422575 838270 838270 17336 0 17336 17336 17336 144026 139830 4196 4196 4196 7282377 6416195 6380 859802 3600 208602 2163501 152133 403627 174809 21290 360222 134367 437180 77769 226069 345 44221 2570 274669 45503 DIVIDENDS ON MEMBER SHA 673964 LOAN SERVICING EXPENSE 357863 ATM EXPENSE 292306 BAD DEBT EXPENSE 220000 133468 6408078 2004929 2394914 6751531 15955893 285745 280075 88480272 88521426 202897 180452 8638638 4658202 2258628 3980436 10363358 13947428 22146118 34529975 101117 43313 3867590 3833728 136462185 163667640 1202197 1202107 90476 61905 110977 106328 120153992 146268133 121557642 147638473 X 0 0 0 0 14904543 16029167 14904543 16029167 136462185 163667640 874299 250325 0 X 0 0 0 0 1 X 192608 192608 4443167 2866031 1577136 1820668 1504648 316020 2182195 287523 1894672 3980436 DEPOSITS IN COMMERCIAL BANKS 25588000 C LOANS TO AND INVESTMENTS IN NATURAL PERSON CREDIT UNIONS 3984000 C NONPERPETUAL CAPITAL ACCOUNT 106181 C PERPETUAL CONTRIBUTED CAPITAL 429369 C ALL OTHER INVESTMENTS IN CORPORATE CREDIT UNIONS 2750000 C ALL OTHER INVESTMENTS 652500 C LOANS HELD FOR SALE 1019925 C 34529975 MEMBERS SHARES 146268133 146268133 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. X 1 1 X X X X X 0 0 0 LIZA EDINGER PRESIDENT/CEO 133188 0 20806 0 225 0 15583 0 27450 0 197252 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 A MEMBER IS ANY QUALIFIED PERSON OR BUSINESS THAT HAS A $5.00 DEPOSIT IN A SAVINGS ACCOUNT AT RIPCO CREDIT UNION. A MEMBER IS QUALIFIED TO VOTE IF THEY ARE A MEMBER IN GOOD STANDING, ARE 18 YEARS OR OLDER AND HAVE BEEN A MEMBER FOR AT LEAST ONE YEAR. QUALIFYING MEMBERS HAVE EQUAL RIGHTS TO VOTE TO ELECT THE GOVERNING BODY OF RIPCO CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS VOTE FOR DIRECTORS AT THE ANNUAL MEETING. TERMS FOR DIRECTORS ARE 3 YEARS. FORM 990, PART VI, SECTION A, LINE 7B ANY PERSON THAT QUALIFIES TO BE A MEMBER OF RIPCO CREDIT UNION HAS VOTING RIGHTS TO ELECT THE GOVERNING BODY (BOARD OF DIRECTORS). EACH YEAR WE HOLD AN ANNUAL MEETING OF MEMBERS AND ANY DIRECTORS THAT ARE UP FOR REELECTION ARE VOTED IN BY THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE VICE PRESIDENT OF FINANCE PRIOR TO SUBMISSION TO THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C NO DIRECTOR, OFFICER, COMMITTEE MEMBER, 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 THE PERSON'S PECUNIARY INTEREST OR THE PECUNIARY INTEREST OF ANY ORGANIZATION OR ASSOCIATION IN WHICH THE PERSON IS DIRECTLY OR INDIRECTLY INTERESTED. IN THE EVENT OF DISQUALIFICATION OF ANY DIRECTOR OR MEMBER OF THE CREDIT COMMITTEE RESPECTING ANY MATTER PRESENTED TO THE BOARD OR CREDIT COMMITTEE FOR DELIBERATION OR DETERMINATION, SUCH DIRECTOR OR COMMITTEE MEMBER SHALL WITHDRAW FROM THE DELIBERATION OR DETERMINATION. IF A DIRECTOR OR CREDIT COMMITTEE MEMBER WITHDRAWS FROM ANY DELIBERATION OR DETERMINATION, THE REMAINING QUALIFIED DIRECTORS OR CREDIT COMMITTEE MEMBERS PRESENT AT THE MEETING MAY EXERCISE ALL POWERS OF THE BOARD OR CREDIT COMMITTEE, PROVIDED THE NUMBER OF DIRECTORS OR CREDIT COMMITTEE MEMBERS PRESENT, INCLUDING THE DISQUALIFIED DIRECTORS OR MEMBERS, CONSTITUTES A QUORUM. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS HAS A SALARY COMMITTEE THAT MEETS ANNUALLY. THE PRESIDENT/CEO PRESENTS A RECOMMENDATION OF A LUMP SUM DOLLAR AMOUNT TO BE USED FOR EMPLOYEE INCREASES. THIS DOLLAR AMOUNT IS ARRIVED AT THROUGH DISCUSSIONS WITH SUPERVISORS REGARDING EMPLOYEES, SEVERAL SALARY SURVEYS THAT ARE REVIEWED ANNUALLY OF CREDIT UNION JOB DESCRIPTIONS, AND RECENT FINANCIAL TRENDS AND ECONOMIC DATA. THE CREDIT UNION ALSO UTILIZES THE SERVICES OF A SALARY CONSULTING FIRM TO ASSIST WITH COMPENSATION STRATEGIES AND OUR SALARY ADMINISTRATION PROGRAM. THE PRESIDENT/CEO PROVIDES THE INFORMATION RESEARCHED INCLUDING VARIOUS STATISTICS TO SUPPORT HER RECOMMENDATION. AT THIS SAME MEETING, IF THE SALARY COMMITTEE HAS NOT MET SEPARATELY, THE PRESIDENT/CEO EXCUSES HERSELF. PRIOR TO THE MEETING TAKING PLACE, THE BOARD SECRETARY MAILS OUT A PACKET CONTAINING AT LEAST TWO SALARY SURVEYS AND OTHER PERTINENT INFORMATION REGARDING CREDIT UNION PRESIDENT/CEO SALARIES. THE COMMITTEE THEN REVIEWS THIS INFORMATION PROVIDED IN ADVANCE AND ADDITIONAL INFORMATION COMPILED BY THE SALARY COMMITTEE CHAIRPERSON. THE COMMITTEE THEN REVIEWS ALL INFORMATION AND DISCUSSES AND APPROVES A SALARY INCREASE AND BONUS FOR THE PRESIDENT/CEO. THE COMMITTEE IS COMPRISED OF FOUR BOARD MEMBERS WHICH IS A MAJORITY OF THE BOARD. THE COMMITTEE PRESENTS THIS INFORMATION TO THE FULL BOARD AT THE NEXT BOARD MEETING. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE TO THE PUBLIC UPON REQUEST.