2023-11-14T09:40:16-07:00 2022-12-31 440160260 FORVIS LLP 201 N Illinois Street Indianapolis IN 46204 990 2022-01-01 350702986 Everwise Credit Union EVER 5742328012 110 South Main Street South Bend IN 46601 Todd Brown SVP & CFO 5742846278 2023-11-14 1 1 Michael Summers P00838533 3173833663 2023-11-14 1 11 1 AAL2 2022 2023-04-26 12:10:37Z X Todd Brown 110 S MAIN STREET SOUTH BEND IN 46601 234771780 0 X www.everwisecu.com X 1931 IN State Chartered Credit Union 8 0 1029 0 2675537 386516 0 0 180341995 213579552 16801792 20199732 935874 860235 198079661 234639519 144304 304699 0 0 75975753 76544301 0 0 0 86552050 99044067 162672107 175893067 35407554 58746452 4498999331 4871999188 4137718799 4507110237 361280532 364888951 State Chartered Credit Union 0 0 175893067 304699 234639519 In 2022, we continued to provide a superior member experience by offering competitive deposit rates and making sensible loans to the membership. In 2022 we continued to develop innovative solutions by providing a world class banking experience. Introduced new streamlined online loan pay portal and suite of products to provide opportunities for those members struggling to build or improve their credit. We continued to strengthen our presence in central Indiana with opening a new location in Carmel Indiana with another location in Westfield. A new President joined the team March 21, 2022, Jason Osterhage. 0 0 0 175893067 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 1 1 1 1 0 1 74341 0 1 1029 1 1 1 0 0 0 0 0 1 0 X 8 0 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 1 1 X Jason Osterhage 5742328012 110 South Main Street South Bend IN 46601 X Waylon Peterson President, Everwise Investment Services 45 1 X 816550 0 44751 Alberto Gonzalez External Mortgage Originator 45 0 X 733696 0 37367 Jason Osterhage CEO started 03/21/2022 45 1 X 629950 0 28812 Victoria Partaker Mortgage Sales Manager 45 0 X 585503 0 31433 Todd Brown SVP Chief Financial Officer 45 1 X 514754 0 46060 Randall Tarter Financial Planner II 45 0 X 458107 0 39560 Daniel Rousseve SVP Chief Information Officer 45 1 X 428947 0 37774 Timothy Landry VP Commercial Loan Officer 45 0 X 407240 0 46571 Jeneen L Crane Vice President 45 0 X 418814 0 31734 Chad Douglass SVP Chief Lending Officer 45 1 X 359892 0 44857 Nicole Alcorn Chief Member Experience Officer 45 1 X 253845 0 29802 Vince Henderson Chairman 5 1 X X 54442 0 7877 John Myers Secretary 5 1 X X 44912 0 7651 Diane Maas Treasurer 5 1 X X 42837 0 6205 Thea Kelly Vice Chair 5 1 X X 42300 0 6524 Jim Dubois Board Member 5 1 X 40800 0 6167 David Aranowski Board Member 5 1 X 39600 0 4504 Shirley Golichowski Assistant Secretary 5 1 X X 33900 0 7883 Jackie Morales Board Member 5 1 X 36000 0 4166 5942089 0 469698 128 0 1 0 Krieg Devault 4101 Edison Lakes Parkway Mishawaka IN 46545 Legal 579179 Constellation Digital Partners 5565 Centerview Dr Suite 202 Raleigh NC 27606 Home Banking platform 888977 Awardco LLC 382 W Park Cir Suite 300 Provo UT 84604 Employee rewards 419715 Intergrated Media Management PO Box 1114 Rahway NJ 07065 E-Signature 408526 Jabian Consulting 1117 Perimeter Center West Suite N 400 Atlanta GA 30338 Strategic Planning 275000 15 0 Loan Income 522130 147546446 147546446 0 0 Fee Income 522100 30291699 29662753 628946 0 Other Operating Income 525990 33739616 33739616 0 0 Insurance Agency 524210 2001791 0 2001791 0 0 0 0 0 213579552 14404521 14404521 0 0 0 0 0 0 0 0 0 0 265469 0 132261 0 133208 0 133208 133208 0 0 1272108 4523103 0 0 1272108 4523103 5795211 5795211 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Management Fees 541200 44800 0 44800 0 Shared Branching 561439 682227 682227 0 0 0 0 0 0 727027 234639519 231963982 2675537 0 304699 0 0 0 3622007 0 53752869 4097334 10903066 4169025 0 1078809 218889 0 0 4192 3543560 3693615 3616775 10836905 0 6124964 305580 0 899437 27802642 343626 6813058 943262 Provision for loan loss 12368515 Franchise Tax and Federal Tax 1450000 Equipment Maintenance 110758 CU Service Dept/Loan Servicing 16516804 2372676 175893067 0 0 0 41512097 49242128 320405442 102522125 0 0 11514110 16130891 24906029 24580824 0 0 3220174350 3777581660 207312 280205 39620541 52618986 155215683 84042573 66375249 71173110 667755801 678309057 0 0 54529762 50558303 15008854 12328554 36989784 36673345 4498999331 4871999188 18094122 17895573 0 0 0 0 0 38262453 287845000 0 4081362224 4201369664 4137718799 4507110237 X 0 0 0 0 361280532 364888951 361280532 364888951 4498999331 4871999188 X 58746452 -55287985 0 0 0 149952 X 0 1 X 1 0 0 12547260 12547260 0 75000017 33091898 41908119 0 0 0 0 0 67668406 50950675 16717731 0 0 0 0 71173110 Cashier Check 10740488 Other Liabilities 8751085 Deferred Compensation 225000 Member Shares 4181653091 4201369664 X 234726980 0 0 0 132261 132261 234594719 0 44800 44800 234639519 175980528 0 0 0 132261 132261 175848267 0 44800 44800 175893067 Schedule D, Part X, Line 2 Management has evaluated their income tax position under guidance included in ASC740. Based on their review, management has not identified any material uncertain tax position to be recorded or disclosed in the financial statements. Schedule D, Part XI, Line 2d Expense related to rental properties are moved on the 990. Theses expenses reduce income by $132,261. Schedule D, Part XI, Line 4b CUSO admin fees of $44,800., which include Everwise Insurance Agency and the rental expenses for CUSO buildings, are included in the expenses on the 990 but are moved for audit financial reporting purposes. Schedule D, Part XII, Line 2d Expenses are related to rental properties are moved on the 990. These expenses reduce income by 132,261. Schedule D, Part XII, Line 4b CUSO administration fees of $44,800, which include Everwise Insurance Agency and the rental expenses for CUSO buildings, are included in the expenses on the 990 but are moved for audit financial reporting purposes. 1 Everwise Foundation 110 South Main Street South Bend IN 46601 351939838 501(C)(3) 304699 0 The Grant is a set funding amount from Everwise Credit Union for community involvement on an annual basis. These funds are then contributed to qualified organizations based on the vision and bylaws of the Everwise Foundation. 1 0 Schedule I, Part I, Line 2 The foundation is a foundation set aside from Everwise Credit Union. This governing body abides by the bylaws for Everwise foundation and each donation is reviewed and agreed upon by the board of directors. X 1 1 X X X X X 1 1 0 Waylon Peterson President, Everwise Investment Services 298845 0 506884 0 10820 0 36150 0 8602 0 861301 0 0 0 Jason Osterhage CEO started 03/21/2022 417896 0 203453 0 8601 0 21138 0 7674 0 658762 0 0 0 Todd Brown SVP Chief Financial Officer 312522 0 201541 0 691 0 36150 0 9910 0 560814 0 0 0 Daniel Rousseve SVP Chief Information Officer 285423 0 143224 0 300 0 29251 0 8523 0 466721 0 0 0 Chad Douglass SVP Chief Lending Officer 237564 0 121322 0 1006 0 33947 0 10910 0 404749 0 0 0 Nicole Alcorn Chief Member Experience Officer 177035 0 76582 0 228 0 26202 0 3600 0 283647 0 0 0 Alberto Gonzalez External Mortgage Originator 29906 0 703768 0 22 0 26248 0 11119 0 771063 0 0 0 Victoria Partaker Mortgage Sales Manager 91098 0 494247 0 157 0 28415 0 3019 0 616936 0 0 0 Randall Tarter Financial Planner II 31026 0 427056 0 25 0 29650 0 9910 0 497667 0 0 0 Jeneen L Crane Vice President 58603 0 360184 0 28 0 26737 0 4996 0 450548 0 0 0 Timothy Landry VP Commercial Loan Officer 191189 0 213765 0 2286 0 34161 0 12410 0 453811 0 0 0 Schedule J, Part I, Line 1a When traveling for corporate annual meeting, the spousal expenses are covered for executive management. The travel is not included in compensation as it was incurred for the business purposes of Everwise Credit Union. Schedule J, Part I, Line 3 Everwise Credit Union uses an independent consulting firm to establish the amount of compensation for executive management. There is a written contract including the terms and agreement of the salary for the CEO. The agreement for the CEO is approved by the Board of Directors. Schedule J, Part I, Line 4 There are SERP plans in place for CEO and Senior Vice Presidents of Everwise Credit Union. There were no contributions to the plan in 2022. Paul Marsh Former CEO Split Dollar X 9800000 10116530 0 1 1 Louise Arsenault Former General Council Split Dollar X 4350000 4184173 0 1 1 Todd Brown CFO Split Dollar X 3400000 3324176 0 1 1 Chad Douglass CLO Split Dollar X 2600000 2556881 0 1 1 Dan Rousseve CIO Split Dollar X 1600000 1597978 0 1 1 Nicole Alcorn CMO Split Dollar X 1219461 1248728 0 1 1 23028466 Form 990, Part VI, Section A, Line 6 All members are considered equal and have one vote based on voting requirements. Form 990, Part VI, Section A, Line 7a Board member are elected based on the policy of the Credit Union and Board of Directors. Form 990, Part VI, Section B, Line 11b The 990-Informaiton used to prepare the tax return is gathered from within the accounting department. The return is compiled using an external accounting firm. The return is reviewed by the Chief Financial Officer and the Controller prior to review of the Board of Directors. Any changes to the tax return or in the instructions of the returns are brought to the attention of the board of directors for review. Form 990, Part VI, Section B, Line 12c Everwise reviews the conflict-of-Interest policy annually with all members of the Board of Directors, Senior Executive Managment, Vice Presidents, and Assistant Vice Presidents. All persons in this job classification are required to complete disclosures forms to accounts held, active loans, and any additional outside occupations. These documents are submitted for review to the Director of Administration. The policy includes steps to avoid conflict of interest and if changes occur regarding potential conflict of interest, it is the responsibility of the director, committee members, or the employee to report such changes to the proper channel. Form 990, Part VI, Section B, Line 15 An independent consulting agency is used to calculate and compare managements compensation. For the Chief Executive Officer, there is also a written contract stating a term and salary that must then be approved by the Board of Directors. Form 990, Part VI, Section C, Line 19 The governing documents of Everwise Credit Union are available upon request. Financial statements are available to the membership as presented in the annual reporting, which is published in the first quarter each year, or available upon request. Each year, management of Everwise Credit Union reviews the conflict of interest policy, and it is available to others upon request. Form 990, Part VII, Section A, Line 1a The estimated amount of other compensation of the Board of Directors is the reporting year's accrued expenses for deferred compensation. The deferred compensation will be paid out to the board member upon retirement from the Board of Directors. Form 990, Part XI, Line 9 Membership fees are a charge to become part of the membership at Everwise Credit Union. They are not treated as income rather are directly added to equity as ownership within the organization for each membership account that is opened during the year. Everwise Lending Agency LLC 110 South Main Street South Bend IN 46601 010867566 Indirect Lending Agency for Autos IN 362415 5361625 Everwise Credit Union Everwise Foundation 110 South Main St South Bend IN 46601 351939838 Community funding authority IN 501 (C)3 Private Foundation Everwise Credit Union 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Everwise Foundation b 304699 The Grant is a set funding amount from Everwise Credit Union for Community involvement on an annual basis. These funds are then contributed to qualified organization based on the vision and bylaws of Everwise Foundation. Schedule R, Part V, Line 2 Everwise Credit Union budget amounts based on the number of memberships within the Credit Union. These funds are allocated for community involvement and contributions for public relations. The unused funds for 2022 is $304,699 and is transferred to Everwise Foundation for additional community funding.