University of Wisconsin Credit Union
- Assets
- $3.3b
- Revenue
- $177.8m
- Investments
- $209.6m
- Employees
- 950
- Location
- Madison, WI
- Founding
- Data as of
- 12/2019
- EIN
- 39-0671465
University of Wisconsin Credit Union Overview
University of Wisconsin Credit Union, operating under the name UW Credit Union, is located in Madison, WI. As of 12/2019, UW Credit Union employed 950 individuals.
For the year ending 12/2019, UW Credit Union generated $177.8m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 11.5% each year . All expenses for the organization totaled $135.2m during the year ending 12/2019. While expenses have increased by 11.7% per year over the past 5 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.
Since 2014, UW Credit Union has awarded 41 individual grants totaling $2,835,310. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
THE UNIVERSITY OF WISCONSIN CREDIT UNION IS A FEDERALLY INSURED FINANCIAL INSTITUTION THAT PROVIDES CONSUMER FINANCIAL PRODUCTS AND SERVICES TO MEET THE MONEY MANAGEMENT GOALS OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UWCU IS ONE OF WISCONSIN'S FASTEST-GROWING HOME PURCHASE FINANCING LENDERS AND FALLS WITHIN THE TOP TEN IN WISCONSIN AMONG ALL MORTGAGE LENDERS. UWCU ASSISTED OVER 4,000 HOUSEHOLDS WHO PURCHASED OR REFINANCED HOMES. THE CREDIT UNION CONTINUES TO BE A RESOURCE FOR FIRST TIME HOME BUYERS OFFERING EDUCATIONAL SEMINARS TO POTENTIAL HOME BUYERS. UWCU CONTINUED TO BE A TOP EDUCATIONAL LENDER IN 2019 AND OFFERED BOTH FIXED AND VARIABLE RATE PRIVATE STUDENT LOANS. UWCU REFINANCED OVER $27 MILLION IN STUDENT LOANS, LOWERING MEMBERS' RATES.
IN 2019, UWCU WELCOMED 36,274 NEW MEMBERS AND OPENED 26,568 NEW CHECKING ACCOUNTS. THE CREDIT UNION'S HONEST AND STRAIGHTFORWARD BUSINESS PRACTICES CONTINUE TO DRIVE MEMBERSHIP AND RELATIONSHIP GROWTH. AT THE END OF 2019, UWCU SERVED OVER 278,000 MEMBERS AND OVER 214,000 CHECKING ACCOUNTS.
UWCU CONTINUES TO FOCUS ON DELIVERING FINANCIAL SERVICES IN A TRUSTWORTHY MANNER. UWCU CONTINUES TO PROVIDE CREDIT CONSULTATION SERVICES WHICH IS A FREE SERVICE THAT BENEFITS ANY MEMBER. MEMBERS CAN MEET WITH A FINANCIAL SPECIALIST TO REVIEW THEIR CREDIT REPORT, BETTER UNDERSTAND THEIR CREDIT SCORE, OR RESEARCH OPTIONS TO LOWER RATES ON EXISTING LOANS. UWCU OFFERS A STUDENT LOAN REFINANCE PRODUCT WHICH ALLOWS MEMBERS TO REFINANCE MULTIPLE LOANS INTO ONE WITH A LOW RATE AND ONE EASY PAYMENT. UWCU OFFERS LOW-LIMIT, LOW-RATE CREDIT CARDS FOR YOUNG ADULTS TO HELP THEM BUILD THEIR CREDIT RESPONSIBLY, AND AFFORDABLE NO ANNUAL FEE SECURED CREDIT CARDS FOR MEMBERS WHO NEED TO REPAIR THEIR CREDIT. UWCU OFFERS AN OVERDRAFT LINE-OF-CREDIT PROTECTION WITH NO ANNUAL FEE. MEMBERS HAVE FREE ACCESS TO THEIR CREDIT SCORES THROUGH WEB BRANCH.
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University of Wisconsin Credit Union Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director (partial Starting June 2019) | Trustee | 3 | $0 |
University of Wisconsin Credit Union Vendors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Encore One Llc Janitorial Services | 12/30/19 | $390,120 |
Adam Albrecht The Weaponary Consulting | 12/30/19 | $403,093 |
Adams Outdoor Advertising Advertising | 12/30/19 | $599,785 |
Wisconsin Sign And Graphics Llc Signage And Grapics | 12/30/19 | $372,547 |
Adrenaline Llc Consulting | 12/30/19 | $584,648 |
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 | $154,127,432 |
| Investment income | $11,306,522 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$13,689 |
| Net Gain/Loss on Asset Sales | $12,378,584 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $177,798,849 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,357,300 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,134,654 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $38,666,398 |
| Pension plan accruals and contributions | $3,519,804 |
| Other employee benefits | $3,411,894 |
| Payroll taxes | $3,268,219 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $168,210 |
| Fees for services: Accounting | $500,817 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $955,961 |
| Advertising and promotion | $7,436,209 |
| Office expenses | $5,267,301 |
| Information technology | $4,950,971 |
| Royalties | $0 |
| Occupancy | $4,419,304 |
| Travel | $221,774 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $490,120 |
| Interest | $14,795,802 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,541,990 |
| Insurance | $373,622 |
| All other expenses | $1,933,963 |
| Total functional expenses | $135,243,598 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,265,367 |
| Savings and temporary cash investments | $412,055,800 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,470,770 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,499,466,072 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $37,120,520 |
| Net Land, buildings, and equipment | $104,245,577 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $209,565,133 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $29,291,626 |
| Total assets | $3,331,480,865 |
| Accounts payable and accrued expenses | $35,267,538 |
| Grants payable | $0 |
| Deferred revenue | $6,539,701 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $10,844,539 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $200,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,747,033,595 |
| Total liabilities | $2,999,685,373 |
| 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 | $331,795,492 |
| Total liabilities and net assets/fund balances | $3,331,480,865 |
University of Wisconsin Credit Union Grants Awarded
Over the last fiscal year, University of Wisconsin Credit Union has awarded $1,343,536 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
Madison, WI PURPOSE: Community Outreach | $550,000 |
Madison, WI PURPOSE: Community Outreach | $381,640 |
Madison, WI PURPOSE: Community Outreach | $250,000 |
Madison, WI PURPOSE: Community Outreach | $53,500 |
Milwaukee, WI PURPOSE: Community Outreach | $25,000 |
Madison, WI PURPOSE: Community Outreach | $25,000 |
University of Wisconsin Credit Union Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Childrens Hospital And Physicians Healthcare Network Columbus, OH | $196,162,333 | $990,886,058 |
Miami Valley Hospital Dayton, OH | $1,540,725,759 | $1,204,039,189 |
Edward W Sparrow Hospital Association Lansing, MI | $1,474,682,154 | $1,000,419,453 |
Woodmen Of The World Life Insurance Society Omaha, NE | $10,949,510,724 | $1,049,679,093 |
University Of Wisconsin Medical Foundation Inc Middleton, WI | $1,086,870,157 | $956,685,711 |
Delta Dental Plan Of Michigan Okemos, MI | $732,148,013 | $963,731,755 |
Bronson Methodist Hospital Kalamazoo, MI | $1,118,333,750 | $952,779,226 |
Childrens Health Care Minneapolis, MN | $1,501,437,326 | $979,158,426 |
Childrens Hospital Medical Center Of Akron Akron, OH | $1,672,516,693 | $1,014,517,498 |
St Lukes Hospital Of Kansas City Kansas City, MO | $1,392,812,481 | $948,488,426 |
Bon Secours Mercy Health Inc Cincinnati, OH | $1,754,618,214 | $1,032,037,001 |
Deaconess Hospital Inc Evansville, IN | $1,654,034,103 | $1,047,627,616 |
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