Fox Communities Credit Union
- Assets
- $2.5b
- Revenue
- $94.7m
- Investments
- $30.5m
- Employees
- 571
- Location
- Appleton, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-0738415
Organization Overview
Fox Communities Credit Union is located in Appleton, WI. As of 12/2021, Fox Communities Credit Union employed 571 individuals. Fox Communities 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 12/2021, Fox Communities Credit Union generated $94.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $69.1m during the year ending 12/2021. While expenses have increased by 10.0% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
WE PARTNER WITH OUR MEMBERS, COMMUNITIES, AND FOX FAMILY TO BUILD STRONGER FINANCIAL FUTURES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE OFFER LOANS FOR PURCHASES OF RESIDENTIAL REAL ESTATE, CREDIT CARDS, AUTOMOBILES AND OTHER CONSUMER PURPOSES TO OUR INDIVIDUAL MEMBERS, AND OUR SMALL BUSINESS MEMBERS. AS OF 12/31/2021 WE HAD $862 MILLION OUTSTANDING IN RESIDENTIAL REAL ESTATE AND HOME EQUITY LOANS, $433 MILLION OUTSTANDING IN CONSUMER LOANS, AND $514 MILLION OUTSTANDING IN MEMBER BUSINESS LOANS.
WE OFFER DEPOSIT PRODUCTS TO INDIVIDUAL MEMBERS AS WELL AS BUSINESS MEMBERS THAT QUALIFY IN OUR FIELD OF MEMBERSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Allen President/ceo | Officer | 40 | $429,292 |
Adam Landsverk Clo | Officer | 40 | $224,273 |
Nancy Krahn Chief Retail Officer | Officer | 40 | $212,144 |
Niki Schaumberg CFO | Officer | 40 | $206,870 |
Kory Kitowski Cio | Officer | 40 | $206,270 |
Mitchell Musial General Counsel | Officer | 40 | $198,471 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Q2 Software Inc Software Hosting Services | 12/30/21 | $1,045,330 |
Sage Direct Statement Processing | 12/30/21 | $646,551 |
Van Vreede Marketing Services | 12/30/21 | $499,545 |
Business Lending Group Underwriting Services | 12/30/21 | $1,695,981 |
Accenture Llc Mortgage Cadence Software Services | 12/30/21 | $605,444 |
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 | $87,325,894 |
| Investment income | $5,896,267 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $804,184 |
| Net Gain/Loss on Asset Sales | $380,348 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $94,748,931 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $2,506,388 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,363,404 |
| Pension plan accruals and contributions | $1,015,355 |
| Other employee benefits | $4,134,012 |
| Payroll taxes | $1,744,074 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $108,345 |
| Fees for services: Accounting | $248,974 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $759,355 |
| Advertising and promotion | $2,721,541 |
| Office expenses | $1,823,901 |
| Information technology | $4,554,409 |
| Royalties | $0 |
| Occupancy | $2,225,174 |
| Travel | $157,755 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $339,931 |
| Interest | $3,729,701 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,309,837 |
| Insurance | $456,598 |
| All other expenses | $4,348,281 |
| Total functional expenses | $69,130,050 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,243,275 |
| Savings and temporary cash investments | $115,960,710 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,821,733 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,802,348,515 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,353,825 |
| Net Land, buildings, and equipment | $38,605,370 |
| Investments—publicly traded securities | $397,430,417 |
| Investments—other securities | $30,508,728 |
| Investments—program-related | $0 |
| Intangible assets | $76,928 |
| Other assets | $47,287,805 |
| Total assets | $2,452,637,306 |
| Accounts payable and accrued expenses | $27,385,736 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,357,519 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $180,525,279 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,994,332,970 |
| Total liabilities | $2,203,601,504 |
| 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 | $249,035,802 |
| Total liabilities and net assets/fund balances | $2,452,637,306 |
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