2025-08-29T15:51:40-05:00 2024-12-31 390758449 WIPFLI LLP 1502 LONDON ROAD SUITE 200 DULUTH MN 55812 990 2024-01-01 390263945 CONNEXUS CREDIT UNION CONN 7158474700 1 CORPORATE DR STE 102 WAUSAU WI 54401 KARL PAGEL CHIEF FINANCIAL OFFICER 7158474700 2025-08-25 1 1 MICHAEL J PETERSON CPA P01833529 2187224705 2025-08-25 2024 2025-03-06 01:10:19Z KARL PAGEL 1 CORPORATE DR STE 102 WAUSAU WI 54401 358505606 0 X WWW.CONNEXUSCU.ORG X CU 1935 WI ENCOURAGE THRIFT AND SELF-RELIANCE AMONG MEMBERS BY PROVIDING DEPOSIT AND LENDING PRODUCTS ON COMPETITIVE TERMS IN ORDER TO IMPROVE SOCIAL CONDITIONS OF THE MEMBERSHIP. 6 6 775 6 3980379 0 0 0 364652601 326231110 26333814 21204078 1541985 1700999 392528400 349136187 0 0 145125538 148892085 75986936 80246901 0 0 0 159686996 235274143 380799470 464413129 11728930 -115276942 5303334419 4332016221 4857805032 4001763779 445529387 330252442 TO BE A NATIONALLY RELEVANT, TRUSTED CREDIT UNION PROVIDING EXCEPTIONAL EXPERIENCES AND FOSTERING PROSPERITY FOR THOSE WE SERVE. 0 0 PROVIDE OUR MEMBERS DEPOSIT SERVICES FOR THEIR FUNDS TO EARN THEM A FAIR RATE OF RETURN. PROVIDE OUR MEMBERS LOAN SERVICES AT A FAIR RATE OF INTEREST. PROVIDE OUR MEMBERS ACCESS TO CHECK SERVICES AND OTHER FINANCIAL PRODUCTS. 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 47424 0 1 775 1 1 1 0 0 0 0 0 1 1 X 6 6 0 0 1 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X X KARL PAGEL 7156799386 1 CORPORATE DR STE 102 WAUSAU WI 54401 ALITA LOBNER CHAIRMAN 1.00 X X 10509 0 0 SHANNA YONKE SECRETARY/TREASURER (TERMED JUN 2024) 1.00 X X 1640 0 0 KELSI SEUBERT VICE CHAIR 1.00 X X 8821 0 0 GREG CULLEN DIRECTOR (TERMED JUN 2024) 1.00 X 6000 0 0 STEVEN DEREBEY DIRECTOR (TERMED OCT 2024) 1.00 X 6000 0 0 TIMOTHY MULLOY SECRETARY/TREASURER 1.00 X 6000 0 0 MICHAEL PARKER DIRECTOR 1.00 X 6000 0 0 MICHAEL PRESTILEO DIRECTOR 1.00 X 6000 0 0 WILLIAM HOFFMAN DIRECTOR (TERMED JAN 2024) 1.00 X 194 0 0 MICHAEL ATKINS DIRECTOR 1.00 X 0 0 0 BOYD J GUSTKE CEO/PRESIDENT (TERMED NOV 2024) 50.00 X 1219801 0 59575 CHAD E ROGERS EVP/COO & INTERIM CEO/PRESIDENT 50.00 X 492207 0 66700 KIM GAMEZ CHIEF FINANCIAL OFFICER (TERMED OCT 2024) 50.00 X 297585 0 16935 RYAN GAGE CHIEF RISK OFFICER (TERMED OCT 2024) 50.00 X 368832 0 51778 CHERYL HALVERSON CHIEF HR OFFICER (TERMED AUG 2024) 50.00 X 216004 0 26367 AKIN AGAR CHIEF TECHNOLOGY OFFICER 50.00 X 399540 0 58731 ERIC HUSEBY CHIEF LENDING OFFICER 50.00 X 379931 0 36376 ADAM KEER CHIEF REVENUE OFFICER 50.00 X 276368 0 43665 CLAIRE MENEY CHIEF OPERATING OFFICER 50.00 X 293844 0 53481 BRIAN GOURLAY SVP CREDIT RISK MANAGEMENT 50.00 X 213564 0 35153 LAURA HUGGINS SVP MARKETING 50.00 X 200368 0 36649 MICHAEL STUELAND VP CORPORATE COUNSEL 50.00 X 220754 0 62773 JOEY BOWELL VP INFRASTRUCTURE & OPERATIONS 50.00 X 228663 0 12812 MATT DEDRICK VP ENTERPRISE APPLICATIONS 50.00 X 211290 0 41357 5069915 0 602352 96 0 1 0 ALKAMI TECHNOLOGY INC PO BOX 122223 DALLAS TX 75312 DIGITAL BANKING 2789388 CDW DIRECT PO BOX 75723 CHICAGO IL 60675 HARDWARE/SOFTWARE 1643388 XPRESS DATA INC 10983 VIA FRONTERA SAN DIEGO CA 92127 STATEMENT PROCESSING 1457886 CO-OP FINANCIAL SERVICES 9692 HAVEN AVE RANCHO CUCAMONGA CA 91730 DEBIT CARD/ATM PROCESSOR 1390614 SALESFORCECOM INC 415 MISSION STREET 3RD FLOOR SAN FRANCISCO CA 94105 SOFTWARE 1350263 61 INTEREST ON LOANS 522100 304151801 304151801 OTHER OPERATING INCOME 522100 19072831 15105974 3966857 FEE INCOME 522100 3006478 2992956 13522 326231110 15297416 15297416 11742507 3533574 4431230 4938189 7311277 -1404615 5906662 5906662 OTHER NON-OPERATING INCOME 522100 1700999 1700999 1700999 349136187 322250731 3980379 22905077 148892085 4408886 51657745 2732303 17480391 3967576 2101139 245840 11147995 1238503 3857731 2053990 3908475 575158 10047348 2664027 815186 PROVISION FOR LOAN LOSS 162666887 LOAN SERVICING 20749849 OTHER EXPENSES 12961915 OPERATING FEES 240100 464413129 386249113 258601037 9511376 5554221 32827511 33726625 4574436795 3667441853 5249255 4508353 40080286 16796203 39951718 23284083 26967875 15319016 32706284 40013838 24108740 21544690 171325752 262022505 5303334419 4332016221 50915896 44679386 10000145 0 4796888991 3957084393 4857805032 4001763779 X 0 0 0 0 445529387 330252442 445529387 330252442 5303334419 4332016221 -115276942 -3 0 X X 0 1 X 1 0 4749225 4749225 19836607 5373564 14463043 2131462 1369959 761503 13362992 10052680 3310312 23284083 NCUA SHARE INSURANCE CAPITALIZATION DEPOSITS 36451229 ACCRUED INTEREST RECEIVABLE 18014263 LIFE INSURANCE POLICIES 29893701 ALL OTHER ASSETS 171542339 FORECLOSED ASSETS 3077475 ROU - OPERATING LEASE ASSET 3043498 262022505 REGULAR SHARE ACCOUNTS 391092547 MONEY MARKET ACCOUNTS 401979392 SHARE DRAFT ACCOUNTS 327992976 IRA SHARE ACCOUNTS 21085761 SHARE AND IRA CERTIFICATES 2814933717 3957084393 X 350540802 0 350540802 -1404615 -1404615 349136187 465817744 0 465817744 -1404615 -1404615 464413129 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 AND HAS A NET OPERATING LOSS CARRYFORWARD. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2024 AND 2023. THE CREDIT UNION'S 2021 THROUGH 2023 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. THE INCOME FROM THE CUSO ORGANIZED AS AN LLC, FLOWS THROUGH TO THE CREDIT UNION. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON SALE OF ASSETS -1,404,615. PART XII, LINE 4B - OTHER ADJUSTMENTS: LOSS ON SALE OF ASSETS -1,404,615. X X 1 1 X X X X X X 0 1 0 BOYD J GUSTKE CEO/PRESIDENT (TERMED NOV 2024) 837927 0 278298 0 103576 0 27300 0 32275 0 1279376 0 0 0 CHAD E ROGERS EVP/COO & INTERIM CEO/PRESIDENT 443000 0 46620 0 2587 0 27300 0 39400 0 558907 0 0 0 AKIN AGAR CHIEF TECHNOLOGY OFFICER 355009 0 42000 0 2531 0 20700 0 38031 0 458271 0 0 0 RYAN GAGE CHIEF RISK OFFICER (TERMED OCT 2024) 291328 0 47559 0 29945 0 20119 0 31659 0 420610 0 0 0 ERIC HUSEBY CHIEF LENDING OFFICER 323984 0 53438 0 2509 0 6600 0 29776 0 416307 0 0 0 CLAIRE MENEY CHIEF OPERATING OFFICER 250290 0 42150 0 1404 0 19558 0 33923 0 347325 0 0 0 ADAM KEER CHIEF REVENUE OFFICER 250081 0 25000 0 1287 0 13292 0 30373 0 320033 0 0 0 KIM GAMEZ CHIEF FINANCIAL OFFICER (TERMED OCT 275341 0 0 0 22244 0 13205 0 3730 0 314520 0 0 0 MICHAEL STUELAND VP CORPORATE COUNSEL 188271 0 30960 0 1523 0 18062 0 44711 0 283527 0 0 0 MATT DEDRICK VP ENTERPRISE APPLICATIONS 189664 0 19260 0 2366 0 17143 0 24214 0 252647 0 0 0 BRIAN GOURLAY SVP CREDIT RISK MANAGEMENT 185950 0 24971 0 2643 0 12231 0 22922 0 248717 0 0 0 CHERYL HALVERSON CHIEF HR OFFICER (TERMED AUG 2024) 179351 0 27563 0 9090 0 12941 0 13426 0 242371 0 0 0 JOEY BOWELL VP INFRASTRUCTURE & OPERATIONS 201813 0 25250 0 1600 0 12424 0 388 0 241475 0 0 0 LAURA HUGGINS SVP MARKETING 182741 0 16500 0 1127 0 12159 0 24490 0 237017 0 0 0 PART I, LINE 1A DURING 2024, SOME OF THE BOARD OF DIRECTORS HAD COMPANION TRAVEL EXPENSES THAT WERE PAID BY CONNEXUS AND ADDED TO THEIR W2. GROSS UP PAYMENTS ARE TIED TO THE RECOGNITION PROGRAM. PART I, LINE 3 CONNEXUS OBTAINS A SALARY SURVEY BASED ON JOB DUTIES AND GEOGRAPHIC INDUSTRY SPECIFIC SALARY STUDIES. CONNEXUS EVALUATES THE SALARY SURVEY INFORMATION WITH JOB PERFORMANCE AND GOAL ACHIEVEMENT TO OBTAIN A POTENTIAL SALARY INCREASE RANGE FOR THAT POSITION GRADE LEVEL. THIS INFORMATION IS REVIEWED BY THE BOARD'S EXECUTIVE COMMITTEE AND THE TOTAL REWARDS LEADER FOR APPROVAL. ANY SALARY CHANGES THAT EXCEED ESTABLISHED RANGES FOR A PARTICULAR GRADE LEVEL NEED FURTHER APPROVAL. EXEC COMPENSATION RANGES REVIEWED IN 2023 BY D.HILTON AND 2025 BY PARC. COMPENSATION RANGE AND EMPLOYEE SPECIFIC CHANGES MADE WITH DIRECTION FROM CU PRESIDENT. PART I, LINE 4B 457 (F) CLAIRE MENEY - NO EMPLOYEE CONTRIBUTION DOUGLAS YOUNG FORMER CEO/PRESIDENT SPLIT DOLLAR PLAN X 5080241 5529819 0 1 1 J DAVID CHRISTENSON FORMER CEO/PRESIDENT SPLIT DOLLAR PLAN X 6300000 6186140 0 1 1 CHAD ROGERS INTERIM CEO/PRESIDENT SPLIT DOLLAR PLAN X 4900000 5305680 0 1 1 BOYD GUSTKE FORMER CEO/PRESIDENT SPLIT DOLLAR PLAN X 9729000 10361184 0 1 1 ERIC HUSEBY CHIEF LENDING OFFICER SPLIT DOLLAR PLAN X 5106000 5343802 0 1 1 ROBERT LESTINA FORMER CEO/PRESIDENT SPLIT DOLLAR PLAN X 1000000 1000000 0 1 1 33726625 FORM 990, PART VI, SECTION A, LINE 4 NUMBER OF BOARD OF DIRECTORS DECREASED TO SIX DURING THE YEAR. FORM 990, PART VI, SECTION A, LINE 6 CONNEXUS CREDIT UNION IS OWNED AND OPERATED BY ITS MEMBERS. A MEMBER MUST MEET FIELD OF MEMBERSHIP RESTRICTIONS AND DEPOSIT AT LEAST FIVE DOLLARS IN THEIR SHARE ACCOUNT. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS ARE ELECTED BY THE MEMBERSHIP AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS WOULD NEED TO APPROVE CERTAIN DECISIONS SUCH AS NAME CHANGE OR MERGER. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND THEN REVIEWED INTERNALLY PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C NOTICES ARE SENT TO ALL EMPLOYEES AND DIRECTORS REQUESTING INFORMATION ON ALL POSSIBLE CONFLICTS OF INTEREST THAT MAY EXIST. IN ADDITION, EACH EMPLOYEE MUST REVIEW A PRESENTATION ON CONFLICTS OF INTEREST SO THEY UNDERSTAND THE ISSUE. FORM 990, PART VI, SECTION B, LINE 15 FORM 990 PART VI LINE 15A: CONNEXUS OBTAINS A SALARY SURVEY BASED ON JOB DUTIES AND GEOGRAPHIC LOCATION, BROKEN DOWN BY ASSET SIZE AND EMPLOYEE COUNTS, ALONG WITH INDUSTRY SPECIFIC SALARY STUDIES. CONNEXUS MESHES ALL OF THIS INFORMATION WITH JOB PERFORMANCE AND GOAL ACHIEVEMENT TO OBTAIN A POTENTIAL SALARY INCREASE RANGE FOR THAT POSITION GRADE LEVEL. THIS INFORMATION IS REVIEWED BY THE BOARD'S EXECUTIVE COMMITTEE AND THE COMPENSATION DEPARTMENT FOR APPROVAL. ANY SALARY CHANGES THAT EXCEED ESTABLISHED RANGES FOR A PARTICULAR GRADE LEVEL NEED FURTHER APPROVAL. FORM 990 PART VI, LINE 15B CONNEXUS OBTAINS A SALARY SURVEY BASED ON JOB DUTIES AND GEOGRAPHIC LOCATION, ALONG WITH INDUSTRY SPECIFIC SALARY STUDIES. CONNEXUS MESHES ALL OF THIS INFORMATION WITH JOB PERFORMANCE AND GOAL ACHIEVEMENT TO OBTAIN A POTENTIAL SALARY INCREASE RANGE FOR THAT POSITION GRADE LEVEL. THIS INFORMATION IS REVIEWED BY THE CEO AND THE COMPENSATION DEPARTMENT FOR APPROVAL. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023 AND AGAIN IN 2025. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE LOBBIES OF THE ORGANIZATION AND PROVIDED IN THE ANNUAL REPORTS AND ANNUAL MEETING. FINANCIAL INFORMATION IS ALSO PROVIDED TO OUR FEDERAL REGULATOR, NCUA, WHO POSTS THIS INFORMATION ON THE NCUA WEBSITE FOR PUBLIC VIEWING. OTHER DOCUMENTS SUCH AS HMDA, CONFLICT OF INTEREST, AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST, SOME OF WHICH ARE MAINTAINED BY THE WISCONSIN OFFICE OF CREDIT UNIONS. FORM 990 PART XII LINE 2C: PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FINANCIAL INSTITUTION LENDING OPTIONS LLC 550 BAY VIEW RD STE A MUKWONAGO WI 53149 870771221 LOAN ORIGINATOR WI 5516775 10703247 CONNEXUS CREDIT UNION