Westconsin Credit Union
- Assets
- $1.9b
- Revenue
- $93.2m
- Investments
- $16.4m
- Employees
- 525
- Location
- Menomonie, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-0823125
Organization Overview
Westconsin Credit Union is located in Menomonie, WI. As of 12/2021, Westconsin Credit Union employed 525 individuals. Westconsin 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, Westconsin Credit Union generated $93.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $72.8m during the year ending 12/2021. While expenses have increased by 6.1% 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.
Since 2014, Westconsin Credit Union has awarded 86 individual grants totaling $809,755. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
WESTCONSIN CREDIT UNION IS COMMITTED TO HELPING OUR MEMBERS ACHIEVE FINANCIAL SUCCESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED LOW-COST FINANCIAL SERVICES TO 111,230 MEMBERS.
SERVED MEMBERS' INTERESTS BY ACCEPTING DEPOSITS, GRANTING LOANS, AND INVESTING EXCESS FUNDS IN A PRUDENT MANNER.
PROVIDED OVER 18,000 LOANS FOR OVER $626 MILLION TO MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lora Benrud CEO | Officer | 40 | $584,441 |
Timothy Carlson VP - Westconsin Investment | 40 | $273,087 | |
Jerilyn Kinderman CFO | Officer | 40 | $270,244 |
Michael Tomasek Cio | Officer | 40 | $245,881 |
Jim Wookey COO | Officer | 40 | $241,425 |
Nicole Yarrington Cto | Officer | 40 | $210,602 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Corelation Inc It Solutions | 12/30/21 | $784,403 |
Fiserv It Solutions | 12/30/21 | $2,783,378 |
Ncr Corporation Mobile And Online Banking | 12/30/21 | $1,166,684 |
Mortgage Cadence Document Imaging | 12/30/21 | $576,172 |
Diamond Marketing Company Marketing Services | 12/30/21 | $648,723 |
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 | $82,588,504 |
| Investment income | $4,232,418 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $93,066 |
| Net Gain/Loss on Asset Sales | $36,312 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $93,240,382 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $160,608 |
| Grants and other assistance to domestic individuals. | $13,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,354,101 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $28,510,393 |
| Pension plan accruals and contributions | $2,627,205 |
| Other employee benefits | $3,976,154 |
| Payroll taxes | $1,857,423 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $961 |
| Fees for services: Accounting | $170,276 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $127,358 |
| Fees for services: Other | $986,142 |
| Advertising and promotion | $1,734,620 |
| Office expenses | $2,030,013 |
| Information technology | $5,386,861 |
| Royalties | $0 |
| Occupancy | $1,734,447 |
| Travel | $179,732 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $175,568 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,066,267 |
| Insurance | $75,793 |
| All other expenses | $1,116,967 |
| Total functional expenses | $72,841,773 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,618,255 |
| Savings and temporary cash investments | $354,939,929 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,380,754 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,054,761,731 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,796,579 |
| Net Land, buildings, and equipment | $33,453,938 |
| Investments—publicly traded securities | $432,370,522 |
| Investments—other securities | $16,356,591 |
| Investments—program-related | $4,748,638 |
| Intangible assets | $0 |
| Other assets | $18,802,777 |
| Total assets | $1,929,229,714 |
| Accounts payable and accrued expenses | $28,373,096 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $983,489 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,699,881,077 |
| Total liabilities | $1,729,237,662 |
| 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 | $199,992,052 |
| Total liabilities and net assets/fund balances | $1,929,229,714 |
Grants Awarded
Over the last fiscal year, Westconsin Credit Union has awarded $110,000 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
HEALING PLAY INC PURPOSE: GENERAL DONATION/ASSISTANCE | $12,500 |
Hudson, WI PURPOSE: WILL PLAYGROUND DONATION | $12,500 |
Hudson, WI PURPOSE: GENERAL DONATION/ASSISTANCE | $12,000 |
Menomonie, WI PURPOSE: PARTNERSHIP DONATION | $10,500 |
ELLSWORTH PUBLIC LIBRARY PURPOSE: LIBRARY BUILDING DONATION | $10,000 |
Menomonie, WI PURPOSE: GENERAL DONATION/ASSISTANCE | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Westconsin Credit Union has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Dunn County Inc Menomonie, WI PURPOSE: GENERAL SUPPORT | $5,000 |
Community Foundation Of Dunn County Inc Menomonie, WI PURPOSE: GENERAL SUPPORT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Dental Association Chicago, IL | $257,052,700 | $138,597,450 |
Seiu Local 1 & Participating Employers Health Trust Chicago, IL | $156,543,336 | $132,715,763 |
St Marys Hospital Ozaukee Inc St Louis, MO | $0 | $119,639,290 |
American College Of Surgeons Chicago, IL | $595,958,812 | $134,561,979 |
Ascension Medical Group Promed St Louis, MO | $11,680,037 | $91,054,014 |
Campbellsville University Inc Campbellsville, KY | $197,242,279 | $142,326,474 |
Aspirus Medical Group Inc Wausau, WI | $76,960,726 | $101,291,684 |
Mid-Ohio Foodbank Grove City, OH | $66,739,553 | $150,715,504 |
Rosalind Franklin University Of Medicine & Science North Chicago, IL | $321,942,163 | $130,066,998 |
St Vincents Health System Inc St Louis, MO | $135,464,874 | $115,601,105 |
Michigan Public Health Institute Okemos, MI | $32,297,029 | $129,374,853 |
Norton - Kings Daughters Health Inc Madison, IN | $327,672,291 | $141,257,726 |