2014-08-20T10:20:07-05:00 2013-12-31 390758449 WIPFLI LLP PO BOX 8010 WAUSAU WI 544028010 990 2013-01-01 390555293 EDUCATORS CREDIT UNION EDUC 2628865900 1400 N NEWMAN ROAD RACINE WI 53406 MICHELLE GABOR CFO 2628865900 2014-08-20 1 MARY A COATES CPA P00134220 7158453111 2014-08-20 2013 2015-11-30 17:44:51Z MICHELLE GABOR 1400 N NEWMAN ROAD RACINE WI 53406 72489958 0 2157 X WWW.ECU.COM X 1937 WI OUR MISSION IS TO PROVIDE EXCEPTIONAL, PERSONALIZED, AND CONVENIENT PRODUCTS AND SERVICES TO ASSIST OUR MEMBERS/OWNERS IN REACHING THEIR FINANCIAL GOALS. 9 9 429 11 0 0 0 0 65809338 68034824 1505926 1459075 273473 -128207 67588737 69365692 0 300183 0 0 15945919 17573044 0 0 0 41051224 39810023 56997143 57683250 10591594 11682442 1410249907 1436639856 1264691221 1278542324 145558686 158097532 THE CREDIT UNION OPERATES TO ENCOURAGE THRIFT AMONG ITS MEMBERS, CREATE A SOURCE OF CREDIT AT A REASONABLE RATE OF INTEREST, AND TO PROVIDE AN OPPORTUNITY FOR ITS MEMBERS TO USE AND CONTROL THEIR OWN MONEY IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. 0 0 LENDING - PROVIDED NON COMMERCIAL LOANS, MORTGAGES AND LEASES WITH BALANCES OF $1,134,683,341. SAVING - PROVIDED SAVING, CHECKING, CDS, IRAS AND MONEY MARKET ACCOUNTS WITH BALANCES OF $1,262,437,004. WE HAVE OVER 123,000 MEMBERS AND FOCUS ON EDUCATING THEM IN OUR BRANCHES AS WELL AS THROUGH COMMUNITY ACTIVITIES. 0 0 0 0 0 1 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 76934 0 1 429 1 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 0 1 1 0 X MICHELLE GABOR 2628865900 1400 N NEWMAN ROAD RACINE WI 53406 JANET DAYS ASSOC. BOARD MEMBER 1.00 X 1100 0 0 CLARENCE ALLEN ASSOC. BOARD MEMBER 1.00 X 1550 0 0 WILLIAM HALSEY BOARD MEMBER 1.00 X 1750 0 0 KRISTINE DIENER BOARD MEMBER 1.00 X 700 0 0 MILTON DOCKERY BOARD MEMBER 1.00 X 100 0 0 PAUL PELZEK BOARD MEMBER 1.00 X 2250 0 0 MARY ANN SMITH BOARD MEMBER 1.00 X 2450 0 0 DAVE HOLLE SECRETARY 1.00 X X 1950 0 0 BRAD ZAUTCKE TREASURER 1.00 X X 1800 0 0 CHERYL KOTHE VICE CHAIRPERSON 1.00 X X 1850 0 0 MARY LUENEBURG CHAIRPERSON 1.00 X X 3100 0 0 EUGENE SZYMCZAK PRESIDENT 40.00 X 430814 0 28203 MICHELLE GABOR CFO 40.00 X 140805 0 9989 ROBERT WALLESER VP-BRANCH OPERATIONS 40.00 X 155632 0 24977 JAMES HOOPER VP-FACILITIES 40.00 X 103532 0 23966 PETER STEIN VP-HUMAN RESOURCES 40.00 X 144568 0 17574 LINDA HOOVER VP-LOANS 40.00 X 155555 0 11295 JAMES HENDERSON VP-MEMBER ENHANCEMENTS 40.00 X 159488 0 33203 JOHN GAREY VP - INVESTMENT SERVICES 40.00 X 176075 0 17218 GLENN BRUSKY BRANCH MANAGER 40.00 X 107188 0 6402 DIANE HENDERSON HR MANAGER 40.00 X 101605 0 4110 1693862 0 176937 10 0 1 0 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 IT SERVICES 1100332 BUKACEK CONSTRUCTION 2429 SUMMIT AVENUE RACINE WI 53404 CONSTRUCTION SERVICES 1046519 CDW DIRECT LLC PO BOX 75723 VERNON HILLS IL 60675 IT SERVICES 498079 INFOIMAGE 141 JEFFERSON DRIVE MENLO PARK CA 94025 IT SERVICES 322308 BLACK DIAMOND GROUP INC PO BOX 394 OAK CREEK WI 53154 PAVING SERVICES 279915 20 INTEREST ON LOANS 522100 48378284 48378284 CREDIT CARD INTERCHANGE INCOME 522100 9794667 9794667 MEMBER SERVICE FEES 522100 7277832 7277832 LOAN SERVICE FEES 522100 1849052 1849052 COMMISSIONS 522100 442669 442669 292320 292320 68034824 1590603 1590603 464125 619273 -155148 -155148 -155148 2373465 100 2504893 -100 -131428 -131528 -131528 GIFT CARD INCOME 900099 24941 24941 OTHER INCOME 900099 2000 2000 26941 69365692 68059765 0 1305927 X 300183 1651494 11798072 1317293 1741205 1064980 171931 330926 905802 4052153 5238855 2860436 183431 486827 2637114 176206 PROVISION FOR LOAN LOSS 9800000 DIVIDENDS PAID 6667738 DEBIT AND CREDIT CARD E 1484888 OTHER EXPENSES 1345301 3468415 57683250 64885127 107947597 95298746 67939542 1125869987 1121617001 927218 1176863 69469273 28657655 36586810 40811618 57369649 68493555 29312370 28653680 1410249907 1436639856 11669596 5996362 1253021625 1272545962 1264691221 1278542324 X 0 0 0 0 145558686 158097532 145558686 158097532 1410249907 1436639856 X 11682442 -929827 1786231 X X 0 1 X 1 0 1 1.00 1 0 10.00 6636109 6636109 34954088 8823449 26130639 590031 507690 82341 27289045 19326516 7962529 40811618 MEMBERS' SHARE AND SAVINGS ACCOUNTS 1262437004 OUTSTANDING DRAFTS PAYABLE 8739183 OTHER LIABILITIES 1369775 1272545962 1 RACINE SYMPHONY ORCHESTRA-SPONSORSHIP PO BOX 1874 RACINE WI 53401 5000 GENERAL SUPPORT RACINE COUNTY ECONOMIC DEVELOPMENT CO 2320 RENAISSANCE BLVD STURTEVANT WI 53177 5000 GENERAL SUPPORT RACINE FAMILY YMCA 725 LAKE AVE RACINE WI 53403 50000 GENERAL SUPPORT AMERICAN CANCER SOCIETY PO BOX 22718 OKLAHOMA CITY OK 713123171 5051 GENERAL SUPPORT KIDS FIRST FUND SPONSORSHIP PO BOX 565 RACINE WI 53401 25000 GENERAL SUPPORT RIVER BEND NATURE CENTER - DONATION 3600 N GREEN BAY RD RACINE WI 53404 25000 GENERAL SUPPORT UNITED WAY OF RACINE CO 2000 DOMANIK DR RACINE WI 53404 7536 GENERAL SUPPORT UNITED WAY OF GREATER MILWAUKEE 225 W VINE ST MILWAUKEE WI 53212 7742 GENERAL SUPPORT UNITED WAY OF RACINE CO 2000 DOMANIK DR RACINE WI 53404 19378 GENERAL SUPPORT RACINE LUTHERAN HIGH SCHOOL - KITCHEN AND DINING GIFT 251 LUEDTKE AVE RACINE WI 53405 10000 GENERAL SUPPORT X X 1 1 X X X 0 1 0 EUGENE SZYMCZAK PRESIDENT 406238 0 16824 0 7752 0 21370 0 6833 0 459017 0 0 0 MICHELLE GABOR CFO 134625 0 5669 0 511 0 7200 0 2789 0 150794 0 0 0 ROBERT WALLESER VP-BRANCH OPERATIONS 146480 0 6464 0 2688 0 3524 0 21453 0 180609 0 0 0 PETER STEIN VP-HUMAN RESOURCES 132570 0 5908 0 6090 0 3721 0 13853 0 162142 0 0 0 LINDA HOOVER VP-LOANS 147778 0 7465 0 312 0 3981 0 7314 0 166850 0 0 0 JAMES HENDERSON VP-MEMBER ENHANCEMENTS 147634 0 6280 0 5574 0 26879 0 6324 0 192691 0 0 0 JOHN GAREY VP - INVESTMENT SERVICES 125459 0 30806 0 19810 0 0 0 17218 0 193293 0 0 0 PART I, LINE 4B EUGENE SZYMCZAK- $15,120 JAMES HENDERSON - $23,000 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 11 INFORMATION IS GATHERED BY THE ACCOUNTING MANAGER AND THE HUMAN RESOURCES MANAGER. THE FORM 990 IS REVIEWED BY THE CFO AND THE AUDIT MANAGER. A COPY OF THE 990 IS PROVIDED TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES ARE REQUIRED ANNUALLY TO SIGN THE OATH OF OFFICE AND REPORT ANY CONFLICTS OF INTEREST. WE OBTAIN ANNUAL SALARY DATA FROM A 3RD PARTY VENDOR. THE BUDGETING PROCESS AND BOARD APPROVE PERCENTAGE INCREASES 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 B, LINE 15 WE OBTAIN ANNUAL SALARY DATA FROM A 3RD 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, PERFOMANCE, 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 REQUESTS. FORM 990, PART IX, LINE 24E CREDIT CARD REBATE PROGRAM 1,293,528. LOAN SERVICING 1,178,330. ASSESSMENT EXPENSE 996,557. FORM 990, PART XI, LINE 9: INCOME FROM CUSO 44,621. EQUITY FROM MERGER WITH LAKESIDE CREDIT UNION 1,741,610. FORM 990, PART XII, LINE 2C: THE BOARD IS IN CHARGE OF OVERSIGHT OF THE AUDIT PROCESS. THERE HAS BEEN NO CHANGE IN THE OVERSIGHT PROCESS FROM THE PRIOR YEAR. CENTER STREET REAL ESTATE LLC 1400 N NEWMAN ROAD RACINE WI 53406 REAL ESTATE WI 0 0 N/A IVANHOE PLACE REAL ESTATE LLC 1400 N NEWMAN ROAD RACINE WI 53406 REAL ESTATE WI 0 0 N/A HOWARD AVENUE REAL ESTATE LLC 1400 N NEWMAN ROAD RACINE WI 53406 REAL ESTATE WI 0 0 N/A MOUNT PLEASANT REAL ESTATE LLC 1400 N NEWMAN ROAD RACINE WI 53406 REAL ESTATE WI 0 0 N/A EDUCATORS CREDIT UNION FINANCIAL SERVICES INCORPORATE ECU FSI 1400 N NEWMAN ROAD RACINE WI 53406 391941702 AUTOMOBILE LEASING SALES AND SERVICE WI EDUCATORS CREDIT UNION C 44621 11459431 1.00000 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0