2025-09-12T10:14:27-05:00 2024-12-31 390758449 WIPFLI LLP 1502 LONDON ROAD SUITE 200 DULUTH MN 55812 990 2024-01-01 390555293 EDUCATORS CREDIT UNION EDUC 2628865900 321 SE FRONTAGE ROAD MT PLEASANT WI 53177 JAMES JUSTMAN CFO 2628865900 2025-09-04 1 1 MICHAEL J PETERSON CPA P01833529 2187224705 2025-08-26 2024 2025-03-06 01:10:19Z JAMES JUSTMAN 321 SE FRONTAGE ROAD MT PLEASANT WI 53177 325584766 0 2157 X WWW.ECU.COM X 1937 WI PASSIONATELY HELP PEOPLE BY EDUCATING AND ADVISING TO EARN THEIR LOYALTY. 13 13 608 13 767435 0 0 0 156559607 173300946 61871505 56082762 3074715 2269457 221505827 231653165 744615 795015 0 0 46164370 46418512 0 0 0 130559908 147287116 177468893 194500643 44036934 37152522 3193764972 3376919381 2870306411 3011945838 323458561 364973543 X OUR GOAL IS TO BE THE BEST CREDIT UNION, NOT THE LARGEST. THIS CAN BE ACHIEVED BY HAVING THE MOST LOYAL MEMBERS THROUGH THEIR USE OF OUR PRODUCTS, SERVICES, TECHNOLOGY, AND WILLINGNESS TO REFER OTHERS TO EDUCATORS CREDIT UNION. 1 0 EDUCATORS CREDIT UNION PROVIDES BUSINESS AND CONSUMER LOANS AND LEASES. CURRENT LOAN PORTFOLIO IS OVER $2.35 BILLION. EDUCATORS OFFERS EDUCATIONAL SEMINARS TO HELP INFORM ITS MEMBERSHIP AND TOOLS TO HELP MAKE LARGE PURCHASES, SUCH AS HOME AND AUTOS. EDUCATORS CREDIT UNION ALSO HAS MANY FINANCIAL TOOLS TO HELP MEMBERS BUILD AND IMPROVE THEIR CREDIT SCORE TO ENSURE THEY GET THE LOWEST RATE POSSIBLE ON THEIR LOANS FOR YEARS TO COME. EDUCATORS CREDIT UNION PROVIDES VERY COMPETITIVE RATES ON SAVING, CHECKING, CDS, IRAS, AND MONEY MARKET ACCOUNTS WITH BALANCES OVER $2.98 BILLION. EDUCATORS THE CREDIT UNION GAVE BACK OVER $5.2 MILLION DOLLARS BACK TO OUR LOYAL MEMBERS THROUGH OUR MEMBER LOYALTY PROGRAM. WE ALSO HAVE GREAT BENEFITS FOR OUR MEMBERS LIKE MIND & MONEY, FINANCIAL WELLNESS TOOLS, AND FRAUD AND THEFT PROTECTION. EDUCATORS CREDIT UNION ALSO HAS A TEAM IN INVESTMENT SERVICES TO ENSURE FINANCIAL WELLNESS FOR FUTURE GENERATIONS. WE HAVE OVER 232,000 MEMBERS AND FOCUS ON EDUCATING THEM IN OUR BRANCHES AS WELL AS THROUGH COMMUNITY ACTIVITIES. EDUCATORS GAVE BACK MORE THAN $795,000 BACK TO THE COMMUNITIES IN WHICH WE SERVE. EDUCATORS CREDIT UNION ALSO AWARDED A TOTAL OF $70,000 TO 35 SCHOOL STUDENTS TO HELP OFFSET THE COST OF HIGHER EDUCATION. TO HELP ENSURE THE SECURITY OF OUR COMMUNITIES' INFORMATION, EDUCATORS CREDIT UNION OFFERS MULTIPLE SHRED DAYS THROUGHOUT OUR COMMUNITIES FREE OF CHARGE. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 171591 0 1 608 1 1 1 0 0 0 0 0 0 0 X 13 13 0 0 0 0 1 1 1 1 0 0 1 1 0 1 1 1 1 1 1 1 0 X JAMES JUSTMAN 2628865900 321 SE FRONTAGE ROAD MT PLEASANT WI 53177 MARY LUENEBURG CHAIRPERSON 1.00 X X 4250 0 0 CHERYL KOTHE VICE CHAIRPERSON 1.00 X X 2500 0 0 BRAD ZAUTCKE TREASURER 1.00 X X 2250 0 0 PAUL PELZEK SECRETARY 1.00 X X 2950 0 0 CLARENCE ALLEN BOARD MEMBER 1.00 X 2000 0 0 JANET DAYS BOARD MEMBER 1.00 X 2200 0 0 SARAH FIEREK BOARD MEMBER 1.00 X 1750 0 0 WILLIAM HALSEY BOARD MEMBER 1.00 X 7989 0 0 NANCY MAJEWSKI BOARD MEMBER 1.00 X 2350 0 0 ELTON DEMETI ASSOCIATE BOARD MEMBER 1.00 X 1200 0 0 DONALD LODGE ASSOCIATE BOARD MEMBER 1.00 X 1850 0 0 SABINA LOPEZ ASSOCIATE BOARD MEMBER 1.00 X 0 0 0 LOGAN MARTIN ASSOCIATE BOARD MEMBER 1.00 X 1850 0 0 LINDA HOOVER CEO & PRESIDENT 40.00 X 767522 0 55826 JAMES JUSTMAN CFO 40.00 X 320992 0 49221 MILTON DOCKERY SECRETARY (THRU APR 24) 1.00 X 0 0 0 JOSEPH BRAZGEL CIO 40.00 X 299840 0 82740 GLENN BRUSKY VP FACILITIES 40.00 X 253490 0 44838 RICH CHIAPETE CORPORATE COUNSEL/CHIEF RISK OFFICER 40.00 X 225014 0 55153 DALE DREHER INFORMATION SECURITY OFFICER 40.00 X 185843 0 33626 MAGGIE FEAGER SVP HR 40.00 X 177394 0 47124 LORI GORKOWSKI CHIEF PAYMENT OFFICER 40.00 X 193055 0 37890 JONATHAN HENKES VP IT 40.00 X 192279 0 24020 SHANNON HUOT CHIEF EXPERIENCE OFFICER 40.00 X 227740 0 60473 ANGELA LANGDON VP RISK MANAGEMENT 40.00 X 163931 0 27881 ASHLEY MADALA CHIEF LENDING OFFICER 40.00 X 192777 0 34503 SCOTT HEINE BUSINESS DEVELOPMENT OFFICER 40.00 X 155399 0 19144 STEVEN LAMBERT NETWORK ENGINEER 40.00 X 148513 0 30432 KIMBERLY SCHMIDT VP DIGITAL SERVICES 40.00 X 153611 0 53687 NEIL STAECK VP BUSINESS SERVICES 40.00 X 155572 0 60142 JOHN O'BRIEN DIRECTOR FINANCE 40.00 X 150150 0 31498 3996261 0 748198 60 0 1 0 JP CULLEN PO BOX 5957 JANESVILLE WI 535471957 CONSTRUCTION 6641238 ALKAMI TECHNOLOGY PO BOX 122223 DALLAS TX 753122223 ONLINE BANKING PROVIDER 4380300 FISERV BOX BOX 934057 ATLANTA GA 311934057 CARD PROCESSOR 3283571 NUSOURCE FINANCIAL 9749 HAMILTON ROAD EDEN PRAIRIE MN 55344 ATM/ITM SERVICE PROVIDER 2193202 MNJ TECHNOLOGIES DIRECT INC PO BOX 771861 CHICAGO IL 60677 TECHNOLOGY SUPPLIER 1595433 74 INTEREST ON LOANS 522100 117620866 117620866 CREDIT CARD INTERCHANGE INCOME 522100 33220062 33220062 MEMBER SERVICE FEES 522100 15015748 15015748 INCOME FROM SALE OF LOANS 522100 2270392 2270392 LOAN FEE INCOME 522100 1926050 1926050 3247828 2533466 714362 173300946 55607980 55607980 151138 309158 -158020 -158020 -158020 88138543 956367 88086583 533545 51960 422822 474782 474782 5055388 5002315 53073 53073 2374404 2374404 2374404 231653165 172586584 767435 58299146 795015 2803908 32833685 3872401 4337829 2570689 67631 270860 1207568 2549424 3360850 14329894 4874595 117155 1344962 24822500 4816371 349817 DIVIDENDS PAID 46453837 DEBIT AND CREDIT CARD E 18759638 PROVISION FOR LOAN LOSS 14569481 CASH BACK REWARDS 4190416 5202117 194500643 42247113 87435616 101646585 213418770 10131627 10429406 2224569392 2328785988 6296764 6497946 102197444 43993265 51320180 58204179 668747480 586112838 15145539 38120168 73660292 47914470 3193764972 3376919381 49019801 35074776 2834764 2662213 2347429 1238032 2816104417 2972970817 2870306411 3011945838 X 0 0 0 0 323458561 364973543 323458561 364973543 3193764972 3376919381 37152522 4362460 0 X 0 1 X 1 0 0 1 X 15259032 15259032 56158390 28769585 27388805 1754489 1462269 292220 20841963 13761411 7080552 8183570 8183570 58204179 MEMBERS' SHARE AND SAVINGS ACCOUNTS 2972970817 2972970817 236964638 0 236964638 -5311473 -5311473 231653165 199812116 5311473 5311473 194500643 0 194500643 PART IV, LINE 2B: THE CREDIT UNION IS THE TRUSTEE OF CERTAIN MEMBERS' ESCROW FUNDS AND HAS FIDUCIARY RESPONSIBILITY FOR THE ADMINISTRATION AND DISTRIBUTION OF THESE FUNDS FOR MEMBERS OF THE ORGANIZATION. 1 JUNIOR ACHIEVEMENT OF WISCONSIN 11111 W LIBERTY DRIVE MILWAUKEE WI 53224 841223492 501(C)(3) 65000 0 GENERAL SUPPORT UNITED WAY OF RACINE COUNTY 2000 DOMANIK DRIVE RACINE WI 53404 390806349 501(C)(3) 60690 0 GENERAL SUPPORT THE BOBBY PORTIS FOUNDATION 83 HALLEN CT LITTLE ROCK AR 72223 882896802 501(C)(3) 50000 0 GENERAL SUPPORT RACINE ZOOLOGICAL SOCIETY 200 GOOLD ST RACINE WI 53402 396065035 501(C)(3) 50000 0 GENERAL SUPPORT MILWAUKEE PUBLIC SCHOOLS FOUNDATION 234 W GALENA STREET MILWAUKEE WI 53212 391929112 501(C)(3) 30000 0 GENERAL SUPPORT HOUSING RESOUCES INC 7830 WEST BURLEIGH ST MILWAUKEE WI 53222 391706658 501(C)(3) 15000 0 GENERAL SUPPORT ROC FOUNDATION INC 7044 S BALLPARK DRIVE SUITE 300 FRANKLIN WI 53132 464894068 501(C)(3) 14500 0 GENERAL SUPPORT PROHEALTH CARE 725 AMERICAN AVENUE WAUKESHA WI 53188 391486873 501(C)(3) 13000 0 GENERAL SUPPORT RACINEKENOSHA COMMUNITY ACTION AGENCY 601 CARON BUTLER DR RACINE WI 53403 396005581 501(C)(3) 10000 0 GENERAL SUPPORT BLACK ARTS COUNCIL OF RACINE 318 MAIN ST RACINE WI 53402 852547241 501(C)(3) 10000 0 GENERAL SUPPORT KENOSHA HUMAN DEVELOPMENT SERVICES 3536 52ND ST KENOSHA WI 53144 391200678 501(C)(3) 10000 0 GENERAL SUPPORT RACINE KENOSHA COMMUNITY ACTION AGENCY INC 2113 N WISCONSIN ST RACINE WI 53402 391087210 501(C)(3) 10000 0 GENERAL SUPPORT FRANKLIN PUBLIC SCHOOLS 8255 W FOREST HILL AVE FRANKLIN WI 53132 396025583 GOVERNMENT 7500 0 GENERAL SUPPORT FRANKLIN PUBLIC SCHOOLS 8255 W FOREST HILL AVE FRANKLIN WI 53132 396025583 GOVERNMENT 7500 0 GENERAL SUPPORT BOYS AND GIRLS CLUB OF KENOSHA 1330 52ND ST KENOSHA WI 53140 391732935 501(C)(3) 5050 0 GENERAL SUPPORT 29 4 PART I, LINE 2: BRANCH MANAGERS HAVE THE ABILITY TO APPROVE GRANTS TO A CERTAIN AMOUNT, AFTER THAT AMOUNT, THE GRANTS WOULD HAVE TO BE APPROVED BY THEIR MANAGER. LARGER GRANTS ARE APPROVED BY SENIOR MANAGEMENT AND ARE CONSIDERED COMMUNITY BENEFIT CONTRIBUTIONS. X X X 0 0 0 LINDA HOOVER CEO & PRESIDENT 694283 0 66039 0 7200 0 43125 0 12701 0 823348 0 0 0 JOSEPH BRAZGEL CIO 269925 0 29915 0 0 0 39598 0 43142 0 382580 0 0 0 JAMES JUSTMAN CFO 287424 0 33568 0 0 0 40873 0 8348 0 370213 0 0 0 GLENN BRUSKY VP FACILITIES 194098 0 59392 0 0 0 30687 0 14151 0 298328 0 0 0 SHANNON HUOT CHIEF EXPERIENCE OFFICER 207233 0 20507 0 0 0 29456 0 31017 0 288213 0 0 0 RICH CHIAPETE CORPORATE COUNSEL/CHIEF RISK OFFICER 204617 0 20397 0 0 0 24377 0 30776 0 280167 0 0 0 LORI GORKOWSKI CHIEF PAYMENT OFFICER 173624 0 19431 0 0 0 24784 0 13106 0 230945 0 0 0 ASHLEY MADALA CHIEF LENDING OFFICER 173506 0 19271 0 0 0 24377 0 10126 0 227280 0 0 0 MAGGIE FEAGER SVP HR 161114 0 16280 0 0 0 23028 0 24096 0 224518 0 0 0 DALE DREHER INFORMATION SECURITY OFFICER 170128 0 15715 0 0 0 23510 0 10116 0 219469 0 0 0 JONATHAN HENKES VP IT 173870 0 18409 0 0 0 23972 0 48 0 216299 0 0 0 NEIL STAECK VP BUSINESS SERVICES 134418 0 13954 0 7200 0 21400 0 38742 0 215714 0 0 0 KIMBERLY SCHMIDT VP DIGITAL SERVICES 136906 0 16705 0 0 0 20465 0 33222 0 207298 0 0 0 ANGELA LANGDON VP RISK MANAGEMENT 149248 0 14683 0 0 0 21307 0 6574 0 191812 0 0 0 JOHN O'BRIEN DIRECTOR FINANCE 136557 0 13593 0 0 0 19285 0 12213 0 181648 0 0 0 STEVEN LAMBERT NETWORK ENGINEER 135465 0 13048 0 0 0 19006 0 11426 0 178945 0 0 0 SCOTT HEINE BUSINESS DEVELOPMENT OFFICER 138408 0 12807 0 4184 0 19096 0 48 0 174543 0 0 0 CHERYL KOTHE BOARD VICE CHAIR 28700 SHIRTS FOR STAFF FOR GIFTS AND SPECIAL EVENTS. EMBROIDERY AND SCREEN PRINTING SERVICES FOR SHIRTS THAT STAFF PURCHASE FROM ELITE APPAREL 0 FORM 990, PART III, LINE 2 THE CREDIT UNION ROLLED OUT A BUY NOW PAY LATER PROGRAM FOR OUR MEMBERS. AS OF 12/31/2024 WE HAD 8,939 LOANS OPEN WITH A BALANCE OF $1,724,496.19. 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 ARE ELECTED BY THE MEMBERSHIP UTILIZING THEIR ONE VOTE PER MEMBER. FORM 990, PART VI, SECTION A, LINE 7B A MERGER IN WHICH EDUCATORS CREDIT UNION WAS NOT THE SURVIVING CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 8B MINUTES ARE NOT TAKEN FOR SUBCOMMITTEES OF THE BOARD, WITH THE EXCEPTION OF THE ALM COMMITTEE AND THE AUDIT COMMITTEE. THE ACTIONS RECOMMENDED BY THE SUBCOMMITTEES ARE PRESENTED TO THE FULL BOARD FOR APPROVAL AND INCLUDED IN THEIR MINUTES. FORM 990, PART VI, SECTION B, LINE 11B INFORMATION IS GATHERED BY THE CONTROLLER AND THE HUMAN RESOURCES MANAGER. THE FORM 990 IS REVIEWED BY THE CFO AND THE CONTROLLER. A COPY OF THE 990 IS PROVIDED TO THE BOARD AFTER SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES ARE REQUIRED ANNUALLY TO SIGN THE OATH OF OFFICE AND REPORT ANY CONFLICTS OF INTEREST. THE ORGANIZATION ENCOURAGES EMPLOYEES TO DISCUSS POTENTIAL CONFLICTS WITH THEIR MANAGER, HUMAN RESOURCES, INTERNAL AUDIT, OR BY REPORTING TO OUR ANONYMOUS FRAUD LINE. ALL REPORTS ARE INVESTIGATED AND ADDRESSED AS NECESSARY. EMPLOYEE AND BOARD MEMBER ACCOUNTS ARE PERIODICALLY REVIEWED FOR ANY IRREGULARITIES THAT WOULD POINT TO A VIOLATION OF THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION OBTAINS ANNUAL SALARY DATA FROM A THIRD-PARTY VENDOR. THE BUDGETING PROCESS AND BOARD APPROVE PERCENTAGE INCREASE FOR OVERALL SALARY INCREASES. ANNUAL INCREASES ARE GIVEN BASED ON SALARY RANGE, POSITION IN RANGE, PERFORMANCE, LENGTH OF EMPLOYMENT, TIME IN POSITION, AND THE BOARD APPROVED AVERAGE PERCENTAGE INCREASE. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST.