2015-11-16T13:31:08-06:00 2014-12-31 410746749 CLIFTONLARSONALLEN LLP PO BOX 217 AUSTIN MN 55912 990 2014-01-01 390263945 CONNEXUS CREDIT UNION CONN 7158474700 PO BOX 8026 WAUSAU WI 54402 JEANNE WALKLEY CFO 7158474700 2015-11-13 1 SHERRI WESSELS P00888088 5074347000 2015-11-13 2014 2016-02-25 16:41:14Z JEANNE WALKLEY PO BOX 8026 WAUSAU WI 54402 450203263 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 9 196 2 1925051 -856121 0 0 26755046 37072873 74989 5852027 0 0 26830035 42924900 0 0 4048025 4984954 8423923 12394251 0 0 0 8611051 16370353 21082999 33749558 5747036 9175342 517669536 994716079 472429221 884133818 45240315 110582261 TO HELP OUR MEMBERS ACHIEVE THEIR PERSONAL FINANCIAL OBJECTIVES BY ANTICIPATING THEIR NEEDS AND EXCEEDING EXPECTATIONS WITH 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 0 0 0 1 13932 0 1 196 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X X JEANNE WALKLEY 7158474742 2600 PINE RIDGE BLVD WAUSAU MN 54401 STEVEN ZEINEMAN CHAIRPERSON 1.00 X 1000 0 0 RON DINS VICE CHAIRPERSON 1.00 X 750 0 0 MARITA HATTEM SECRETARY 1.00 X 500 0 0 MARK STEINBERG TREASURER 1.00 X 500 0 0 PAUL HUNSANGER DIRECTOR 1.00 X 500 0 0 JANE KITTEL DIRECTOR 1.00 X 500 0 0 GARY KLINGBEIL DIRECTOR 1.00 X 500 0 0 LYLE BECK DIRECTOR 1.00 X 500 0 0 TODD MCDONALD DIRECTOR 1.00 X 500 0 0 J DAVID CHRISTENSON CEO/PRESIDENT 55.00 X 417152 0 78040 BOYD GUSTSKE COO 50.00 X 214831 0 50542 DARYL GESSLER CHIEF RISK OFFICER 50.00 X 217548 0 46779 MARY BURGOYNE CIO 50.00 X 207305 0 62546 CHAD ROGERS CMO 50.00 X 193069 0 34548 JEANNE WALKLEY CFO 50.00 X 235069 0 23118 LYNDA KEIL CHIEF H R OFFICER 50.00 X 219844 0 33681 ERIC HUSEBY SR VP LENDING 45.00 X 132730 0 18989 BEVERLY NOWACKI SR VP OPERATION 45.00 X 134190 0 23159 HAROLD OSBORN VP CREDIT UNION SERVICES 45.00 X 104461 0 20965 DOUGLAS YOUNG CEO/PRESIDENT 50.00 X 435012 0 33211 MICHAEL SUNNARBORG SR VP LENDING 45.00 X 155337 0 29747 2671798 0 455325 12 0 1 0 FISERV PO BOX 300016 DULUTH GA 30096 NETWORK SERVICES 1312421 SHAZAM INC 6700 PIONEER PARKWAY JOHNSTON IA 50131 DEBIT CARDS 600603 WESTPHAL STAFFING 505 S 24TH AVE SUITE 104 WAUSAU WI 54401 TEMP SERVICES 314556 ALLIED SOLUTIONS PO BOX 729 INDIANAPOLIS IN 46206 LOAN SERVICING 182892 US DEPT OF EDUCATION PO BOX 979066 ST LOUIS MO 63197 LOAN SERVICING 178120 15 INTEREST INCOME ON LOANS 522100 29513415 29513415 OTHER INCOME 522100 5620512 5620512 FEE INCOME 522100 1938946 13895 1925051 37072873 896486 896486 412233904 407278363 4955541 4955541 4955541 42924900 35147822 1925051 5852027 4984954 2039322 7511044 1041206 1084742 717937 92861 56280 773122 384068 1133050 952517 1159866 391262 881849 969531 PROVISION FOR LOAN LOSS 4333880 OTHER EXPENSES 3266360 LOAN SERVICING 927778 TEMPORARY CORPORATE CU 853562 194367 33749558 7265691 45436650 13580173 27719144 5080241 466560727 829559856 480738 609132 16154133 5293370 5616272 10860763 20368071 4313220 57471 8329348 24108464 42439654 517669536 994716079 4673757 9151961 50191445 43815430 417564019 831166427 472429221 884133818 X 0 0 0 0 45240315 110582261 45240315 110582261 517669536 994716079 X 9175342 66604 56100000 X X 0 1 X 1 0 2739183 2739183 8050878 2153795 5897083 1695 47 1648 5362377 3139528 2222849 10860763 REGULAR SHARE ACCOUNTS 203455132 MONEY MARKET ACCOUNTS 182766467 SHARE DRAFT ACCOUNTS 163726559 IRA SHARE ACCOUNTS 36156521 SHARE AND IRA CERTIFICATES 245061748 831166427 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER IRC 501 (C) (14), FROM FEDERAL AND STATE INCOME TAXES. CERTAIN PRODUCTS AND SERVICES PROVIDED BY SELECT STATE CHARTERED CREDIT UNIONS HAVE BEEN DEEMED BY THE INTERNAL REVENUE SERVICE (IRS), IN TECHNICAL ADVICE MEMORANDUMS (TAMS) RELEASED IN 2007, TO BE UNRELATED TO THE SPECIFIC ENTITY'S EXEMPT PURPOSE. AS PRESENTED IN THE TECHNICAL ADVICE MEMORANDUMS, THE NET TAXABLE INCOME FROM THESE PRODUCTS AND SERVICES WOULD BE SUBJECT TO INCOME TAXES. CREDIT UNIONS HAVE LITIGATED AGAINST THE IRS POSITIONS NOTED IN THE TAMS AND HAVE BEEN SUCCESSFUL IN HAVING COURTS DECLARE IN 2009 AND 2010 THAT REVENUE FROM INSURANCE PRODUCTS SOLD TO MEMBERS, HELPING THEM PROTECT THEIR FINANCIAL WELLBEING, QUALIFIES AS EXEMPT PURPOSE INCOME, CONTRARY TO THE IRS POSITION IN THE TAMS. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES THEY HAVE 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, 2014. THE CREDIT UNION'S 2010 THROUGH 2013 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 0 X X X X X X 0 1 0 J DAVID CHRISTENSON CEO/PRESIDENT 241768 0 141838 0 33546 0 38746 0 39294 0 495192 0 0 0 BOYD GUSTSKE COO 148911 0 54900 0 11020 0 24214 0 26328 0 265373 0 0 0 DARYL GESSLER CHIEF RISK OFFICER 149805 0 54750 0 12993 0 24391 0 22388 0 264327 0 0 0 MARY BURGOYNE CIO 135922 0 51363 0 20020 0 41752 0 20794 0 269851 0 0 0 CHAD ROGERS CMO 123883 0 53754 0 15432 0 13590 0 20958 0 227617 0 0 0 JEANNE WALKLEY CFO 196612 0 0 0 38457 0 16909 0 6209 0 258187 0 0 0 LYNDA KEIL CHIEF H R OFFICER 195365 0 0 0 24479 0 16568 0 17113 0 253525 0 0 0 ERIC HUSEBY SR VP LENDING 100506 0 21500 0 10724 0 9278 0 9711 0 151719 0 0 0 BEVERLY NOWACKI SR VP OPERATION 134190 0 0 0 0 0 13154 0 10005 0 157349 0 0 0 DOUGLAS YOUNG CEO/PRESIDENT 348637 0 0 0 86375 0 26562 0 6649 0 468223 0 0 0 MICHAEL SUNNARBORG SR VP LENDING 155337 0 0 0 0 0 13398 0 16349 0 185084 0 0 0 PART I, LINE 1A J DAVID CHRISTENSON - TRAVEL FOR COMPANION - $2,016 PART I, LINE 4B J DAVID CHRISTENSON - NONQUALIFIED PLAN - PARTICIPATED, NO DISTRIBUTIONS BOYD GUSTKE - NONQUALIFIED PLAN - PARTICIPATED, NO DISTRIBUTIONS DARYL GESSLER - NON-QUALIFIED PLAN - PARTICIPATED, NO DISTRIBUTIONS MARY BURGOYNE - NON-QUALIFIED PLAN - PARTICIPATED, NO DISTRIBUTIONS JEANNE WALKLEY - NON-QUALIFIED PLAN - DISTRIBUTION OF 38,457 LYNDA KEIL - NON-QUALIFIED PLAN - DISTRIBUTION OF 24,479 DOUGLAS YOUNG - NON-QUALIFIED PLAN - DISTRIBUTION OF 86,375 DOUGLAS YOUNG CEO/PRESIDENT SPLIT DOLLAR X 5080241 5080241 0 1 1 5080241 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 11 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 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 PERSONNEL 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, 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: EQUITY ACQUIRED IN MERGER 56,100,000. FORM 990, PART 12, LINE 2C: THE PROCESS HAS NOT CHANGED FROM LAST YEAR. FINANCIAL INSTITUTION LENDING OPTIONS LLC 550 BAY VIEW ROAD SUITE A MUKWONAGO WI 53149 870771221 LOAN ORIGINATOR WI 1900431 5487604 THE CREDIT UNION