Connexus Credit Union
- Assets
- $5.3b
- Revenue
- $328.6m
- Investments
- $27.4m
- Employees
- 847
- Location
- Wausau, WI
- Founding
- Data as of
- 12/2022
- EIN
- 39-0263945
Organization Overview
Connexus Credit Union is located in Wausau, WI. As of 12/2022, Connexus Credit Union employed 847 individuals. Connexus Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2022, Connexus Credit Union generated $328.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 25.3% each year . All expenses for the organization totaled $283.7m during the year ending 12/2022. While expenses have increased by 25.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ENCOURAGE THRIFT AND SELF RELIANCE AMONG MEMBERS BY PROVIDING DEPOSIT AND LENDING PRODUCTS AT COMPETITIVE TERMS IN ORDER TO IMPROVE SOCIAL CONDITIONS OF THE MEMBERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Mulloy Director | Trustee | 1 | $66,700 |
Alita Lobner Chairman | OfficerTrustee | 1 | $29,239 |
Kelsi Seubert Vice Chair | OfficerTrustee | 1 | $25,902 |
Shanna Yonke Secretary/treasurer | OfficerTrustee | 1 | $24,673 |
Steven Zeineman Director | Trustee | 1 | $17,992 |
Steven Derebey Director | Trustee | 1 | $16,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cdw Direct Hardware/software | 12/30/22 | $1,690,721 |
Co-op Financial Services Debit Card/atm Processor | 12/30/22 | $1,202,397 |
Alkami Technology Inc Digital Banking | 12/30/22 | $1,444,400 |
Xpress Data Inc Statement Processing | 12/30/22 | $1,125,484 |
Salesforececom Inc Software | 12/30/22 | $1,579,928 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $327,990,422 |
| Investment income | $4,426,854 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,138,066 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $328,557,164 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $69,055,568 |
| Compensation of current officers, directors, key employees. | $2,560,060 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $44,431,936 |
| Pension plan accruals and contributions | $3,370,581 |
| Other employee benefits | $11,257,384 |
| Payroll taxes | $3,360,749 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $396,339 |
| Fees for services: Accounting | $175,179 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,661,383 |
| Advertising and promotion | $1,822,183 |
| Office expenses | $5,757,111 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,988,407 |
| Travel | $915,412 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,173,740 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,827,630 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $283,657,478 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $261,724,723 |
| Savings and temporary cash investments | $15,105,477 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $32,571,987 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,610,098,324 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,810,395 |
| Net Land, buildings, and equipment | $35,480,634 |
| Investments—publicly traded securities | $37,484,390 |
| Investments—other securities | $27,426,565 |
| Investments—program-related | $0 |
| Intangible assets | $25,624,099 |
| Other assets | $212,779,628 |
| Total assets | $5,264,106,222 |
| Accounts payable and accrued expenses | $38,060,866 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $120,027,947 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,603,708,720 |
| Total liabilities | $4,761,797,533 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $502,308,689 |
| Total liabilities and net assets/fund balances | $5,264,106,222 |