2020-11-16T16:39:13-06:00 2019-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2019-01-01 390263945 CONNEXUS CREDIT UNION CONN 7158474700 1 CORPORATE DR STE 700 NO 700 WAUSAU WI 54401 BOYD GUSTKE CEO/PRESIDENT 7158474700 2020-11-16 1 TANYA MEDGAARDEN P01717240 5074347000 2020-11-16 67.137.57.251 2020-11-16 13:32:10 CS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 FFF55F81A3F3AE4ED99EA4C7BC73FF4637EEDE99 2019 2021-04-22 16:20:28Z X BOYD GUSTKE 1 CORPORATE DR STE 700 NO 700 WAUSAU WI 54401 184970270 0 X CONNEXUSCU.ORG X CU 1935 WI ENCOURAGE THRIFT AND SELF RELIANCE AMONG MEMBERS BY CREATING A SOURCE OF CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST IN ORDER TO IMPROVE SOCIAL CONDITIONS OF THE MEMBERSHIP. 9 8 422 0 1777750 0 0 0 126101319 177961325 2371004 6075407 0 898508 128472323 184935240 0 0 24396561 47014729 25667289 32305344 0 0 0 46066349 74214882 96130199 153534955 32342124 31400285 2274624184 2671699264 2037797562 2404235569 236826622 267463695 TO HELP OUR MEMBERS ACHIEVE THEIR PERSONAL FINANCIAL OBJECTIVES BY ANTICIPATING THEIR NEEDS AND EXCEEDING THEIR EXPECTATIONS THROUGH SUPERIOR SERVICE AND PRODUCTS. 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 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 1 31955 0 422 1 1 1 0 0 0 0 0 0 0 X 9 8 1 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 1 X X MARY BURGOYNE 7158474721 ONE CORPORATE DRIVE STE 700 WAUSAU WI 54401 JDAVID CHRISTENSON CEO/PRESIDENT 55.00 X 683605 0 54835 DAVID STARK CHIEF OF STAFF 50.00 X 479529 0 47942 BOYD J GUSTKE EVP/COO 50.00 X 362225 0 59865 DARYL R GESSLER CRO 50.00 X 341579 0 47274 CHAD E ROGERS CMO 50.00 X 298015 0 59874 MARY J BURGOYNE CFO 50.00 X 296863 0 55713 ERIC HUSEBY CLO 50.00 X 216467 0 53977 PAUL ZYLA SVP BUSINESS TECHNOLOGY 45.00 X 206126 0 37725 JESSICA HUGGENVIK SVP HUMAN RESOURCES 45.00 X 182780 0 49837 SANDRA WARNER VP MEMBER SERVICES 45.00 X 188603 0 35394 CORY JAEGER VP INFORMATION TECHNOLOGY 45.00 X 154435 0 49251 SHELIA POLAK VP ACCOUNTING 45.00 X 138788 0 39796 MARK STEINBERG VICE CHAIR 1.00 X X 20052 0 0 RON DINS CHAIR 1.00 X X 14062 0 0 KIM SMITH SECRETARY/CHAIR (NOV. 2019) 1.00 X X 9385 0 0 ALITA LOBNER TREASURER 1.00 X X 7500 0 0 KELSI SEUBERT DIRECTOR/SECRETARY(NOV. 2019) 1.00 X X 6908 0 0 STEVEN ZEINEMAN DIRECTOR 1.00 X 6811 0 0 STEVEN DEREBEY DIRECTOR 1.00 X 6667 0 0 TODD MCDONALD DIRECTOR 1.00 X 6520 0 0 TOM SEUNTJENS DIRECTOR 1.00 X 6343 0 0 SHANNA YONKE DIRECTOR 1.00 X 6000 0 0 3639263 0 591483 24 0 1 0 FISERV PO BOX 300016 DULUTH GA 30096 CORE AND DEBIT CARD PROCESSING 1488284 XPRESS DATA 10983 VIA FRONTIERA SAN DIEGO CA 92127 STATEMENT PROCESSING 938960 CDW DIRECT PO BOX 75723 CHICAGO IL 60675 HARDWARE/SOFTWARE 836627 ALKAMI TECHNOLOGY INC 5601 GRANITE PARKWAY STE 120 PLANO TX 75024 DIGITAL BANKING 766764 SUN PRINTING 1800 GRAND AVE WAUSAU WI 54403 PRINTING & MAILING 377429 38 INTEREST INCOME ON LOANS 522100 154587698 154587698 OTHER INCOME 522100 18722399 16959750 1762649 FEE INCOME 522100 4651228 4636127 15101 177961325 5692453 5692453 417984 0 35030 417984 -35030 382954 382954 NET LOSS ATTRIBUTABLE TO NONCONTR 522100 898508 898508 898508 184935240 177082083 1777750 6075407 47014729 3148011 20075305 1179403 6162640 1739985 685744 176246 2784821 1032869 3758568 6085 2936574 1307741 510726 2095315 LOAN SERVICING 40926998 PROVISION FOR LOAN LOSS 8205724 OTHER EXPENSES 5478015 OPERATING FEES 4309456 153534955 201074295 167116018 27117055 9333000 14611722 14868717 1912201108 2340913643 1107872 1172893 21580100 10710373 12987434 10869727 12935159 9799782 4830065 9824901 11018291 9732921 76741183 98067662 2274624184 2671699264 15678997 22326417 30043391 30000000 1992075174 2351909152 2037797562 2404235569 X 0 0 0 0 236826622 267463695 236826622 267463695 2274624184 2671699264 X 31400285 135291 -898503 X X 0 1 X 1 0 2334383 2334383 7446835 3129598 4317237 2703772 751656 1952116 9095110 6829119 2265991 10869727 REGULAR SHARE ACCOUNTS 313615173 MONEY MARKET ACCOUNTS 200466311 SHARE DRAFT ACCOUNTS 253983345 IRA SHARE ACCOUNTS 34769908 SHARE AND IRA CERTIFICATES 1549074415 2351909152 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER IRC 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 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 CONSOLIDATED FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2019 AND 2018. THE CREDIT UNION'S 2016 THROUGH 2018 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. X 1 1 X X X X X X 1 1 0 JDAVID CHRISTENSON CEO/PRESIDENT 663019 0 0 0 20586 0 27800 0 27035 0 738440 0 0 0 DAVID STARK CHIEF OF STAFF 189902 0 287500 0 2127 0 19246 0 28696 0 527471 0 0 0 BOYD J GUSTKE EVP/COO 299700 0 60000 0 2525 0 25153 0 34712 0 422090 0 0 0 DARYL R GESSLER CRO 284617 0 54602 0 2360 0 24918 0 22356 0 388853 0 0 0 CHAD E ROGERS CMO 247359 0 49000 0 1656 0 27341 0 32533 0 357889 0 0 0 MARY J BURGOYNE CFO 243636 0 48000 0 5227 0 25855 0 29858 0 352576 0 0 0 ERIC HUSEBY CLO 178363 0 36860 0 1244 0 22151 0 31826 0 270444 0 0 0 PAUL ZYLA SVP BUSINESS TECHNOLOGY 180838 0 24000 0 1288 0 5234 0 32491 0 243851 0 0 0 JESSICA HUGGENVIK SVP HUMAN RESOURCES 154800 0 27300 0 680 0 17690 0 32147 0 232617 0 0 0 SANDRA WARNER VP MEMBER SERVICES 82603 0 28095 0 77905 0 13151 0 22243 0 223997 0 0 0 CORY JAEGER VP INFORMATION TECHNOLOGY 136604 0 16686 0 1145 0 15784 0 33467 0 203686 0 0 0 SHELIA POLAK VP ACCOUNTING 126334 0 11880 0 574 0 4094 0 35702 0 178584 0 0 0 PART I, LINE 1A J DAVID CHRISTENSON - TRAVEL FOR COMPANION PART I, LINES 4A-B SANDRA WARNER - SEVERANCE PAYMENT - $68,395 J DAVID CHRISTENSON - NONQUALIFIED PLAN - PARTICIPATED, NO DISTRIBUTIONS BOYD GUSTKE - NONQUALIFIED PLAN - PARTICIPATED, NO DISTRIBUTIONS DARYL GESSLER - NON-QUALIFIED PLAN - PARTICIPATED, NO DISTRIBUTIONS DOUGLAS YOUNG FORMER CEO/PRESIDENT SPLIT DOLLAR X 5080241 5355955 0 1 1 J DAVID CHRISTENSON CEO/PRESIDENT SPLIT DOLLAR X 6300000 6392697 0 1 1 BOYD GUSTKE COO SPLIT DOLLAR X 1350000 1400286 0 1 1 CHAD ROGERS CMO SPLIT DOLLAR X 1700000 1719779 0 1 1 14868717 FORM 990, PART VI, SECTION A, LINE 2 MARY BURGOYNE (CFO) AND JESSICA HEGGENVIK (SVP HUMAN RESOURCES) ARE MOTHER AND DAUGHTER. J DAVID CHRISTENSON (CEO) AND WILLIAM MECH (VP-ENTERPRISE RISK CONTROL) ARE BROTHER-IN-LAWS. 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 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. 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 XI, LINE 9: ROUNDING 5. NONCONTROLLING INTEREST -898,508. FORM 990 PART XII LINE 2C PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FINANCIAL INSTITUTION LENDING OPTIONS LLC 550 BAY VIEW ROAD SUITE A MUKWONAGO WI 53149 870771221 LOAN ORIGINATOR WI 142824 8203924 CONNEXUS CREDIT UNION GLORON INSURNACE GROUP LLC 2600 PINERIDGE BLVD WAUSAU WI 54401 842640872 PERSONAL INSURANCE WI CONNEXUS CREDIT UNION -3407143 795124 0 0 0.79000 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 GLORON INSURANCE GROUP LLC B 5000000 FMV FORM 990 SCHEDULE R PART III MARK STEINBERG, THEN BOARD VICE CHAIR, BECAME THE CEO OF GLORON INSRUANCE AGENCY LLC WHEN CONNEXUS ACQUIRED A MAJORITY SHARE OF THIS LLC ON 10-2-19. AT THAT TIME MR STEINBERG STEPPED DOWN AT VICE CHAIR BUT DID RETAIN HIS CONNEXUS BOARD SEAT.