2023-04-25T14:19:34-04:00 2022-12-31 811697509 AUDIT THREESIXTY 1202 JOHNSON ST ONALASKA WI 546502008 990 2022-01-01 390716620 WEA CREDIT UNION WEAC 6082749828 PO BOX 8003 MADISON WI 537088003 CASSANDRA THOM PRESIDENT 6082749828 2023-04-24 true CASSANDRA THOM 999009999 false PETER RASMUSSEN P01888997 6083173765 2023-04-25 X 2022 2023-04-26 12:10:37Z CASSANDRA THOM PO BOX 8003 MADISON WI 537088003 1130221 false X WWW.WEACU.COM X 1931 WI WEA CREDIT UNION WAS CREATED AND SPONSORED BY WEAC FOR TWO REASONS. 1. TO PROVIDE A CONFIDENTIAL SERVICE FROM WHICH MEMBERS OF WEAC CAN BORROW MONEY AT SUBSTANTIALLY LOWER RATES OF INTERST THAN IS POSSIBLE FROM SMALL LOAN COMPANIES OR LOCAL LENDING AGENCIES. 2. TO FURNISH THE OPPORTUNITY FOR INVESTMENT BY MEMBERS WHO DESIRE TO PUT THEIR MONEY IN A SAFE AND HELPFUL BUSINESS PROGRAM. 7 7 9 9 386 0 847667 889796 152463 230439 2417 2586 1002547 1122821 250 1000 0 411126 379837 0 0 588985 618087 1000361 998924 2186 123897 36531138 37823482 32811203 33979650 3719935 3843832 X WEA CREDIT UNION WAS CREATED AND SPONSORED BY WEAC FOR TWO REASONS. 1. TO PROVIDE A CONFIDENTIAL SERVICE FROM WHICH MEMBERS OF WEAC CAN BORROW MONEY AT SUBSTANTIALLY LOWER RATES OF INTERST THAN IS POSSIBLE FROM SMALL LOAN COMPANIES OR LOCAL LENDING AGENCIES. 2. TO FURNISH THE OPPORTUNITY FOR INVESTMENT BY MEMBERS WHO DESIRE TO PUT THEIR MONEY IN A SAFE AND HELPFUL BUSINESS PROGRAM. false false THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 180 NEW DEPOSIT ACCOUNTS IN 2022. AS OF 12/31/22 WE HAD 2,741 MEMBERS. THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 1,300 NEW LOANS DURING 2022. AS OF 12/31/22 WE HAD 1,923 OUTSTANDING LOANS RECEIVABLE. false false false false false false false true false true false true false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 837 0 true 9 true false false false false false false false false X 7 7 false false true false true true true true true false false false true true true false true true true false X CASSANDRA THOM 6082749828 PO BOX 8003 MADISON WI 537088003 MARK A SCHRIMPF CEO 50.00 X 88161 0 38393 JODIE NOWAKOWSKI OPERATIONS M 40.00 X 32457 0 15526 CASSANDRA THOM PRESIDENT 50.00 X 15398 0 4739 RUSSELL ALLEN CHAIR 0.50 X X 0 0 0 TERRANCE CRANEY VICE CHAIR 0.50 X X 0 0 0 DOUG FRITSCH TREASURER 0.50 X X 0 0 0 KATHRYN NAUTA SECRETARY 0.50 X X 0 0 0 JOANNE FITZGERALD DIRECTOR 0.50 X 0 0 0 ROSS HAMPTON DIRECTOR 0.50 X 0 0 0 MICHAEL STOLL DIRECTOR 0.50 X 0 0 0 RYAN MADDEN DIRECTOR 0.50 X 0 0 0 LEIGH BARKER CHEESEBRO DIRECTOR 0.50 X 0 0 0 136016 58658 false false false INTEREST ON LOANS 522130 748378 748378 OTHER MEMBER RELATED INCOME 522130 100141 100141 MEMBER FEE INCOME 522130 40891 40891 FEE & INSURANCE INCOME 520000 386 386 889796 227939 227939 2586 2586 9900 7400 2500 2500 2500 1122821 891910 386 230525 1000 136016 118768 25370 80310 19373 9120 2126 67205 300074 83782 32784 291 4922 11874 25894 DIVIDENDS EXPENSE 67138 PROVISION FOR LOAN LOSS 12877 998924 0 0 0 107655 175185 8106903 6354885 18374779 19533920 67510 89964 395325 369173 38026 26152 9509217 11256108 327048 387268 36531138 37823482 120015 444153 42552 59394 32648636 33476103 32811203 33979650 X 3719935 3843832 3719935 3843832 36531138 37823482 123897 X false false false true X 395325 369173 26152 26152 INVESTMENTS WITH MATURITY > 1 YEAR 11060429 C CAPITAL ACCTS CORPORATE CU 179752 C WISCUB CUSO 15833 C AFS SECURITIES W/ MATURITY > 1 YEAR 94 F 11256108 MEMBERS SHARES & DEPOSITS 33535497 TO ESCROW LINE 21 ON BAL SHEET -59394 33476103 SCHEDULE D, PAGE 2, PART IV, LINE 2B THE CREDIT UNION HOLDS FUNDS IN ESCROW ACCOUNTS FOR PROPERTY TAXES AND INSURANCE RELATED TO MORTGAGE LOANS. FORM 990 - ORGANIZATION'S MISSION WEA CREDIT UNION WAS CREATED AND SPONSORED BY WEAC FOR TWO REASONS. 1. TO PROVIDE A CONFIDENTIAL SERVICE FROM WHICH MEMBERS OF WEAC CAN BORROW MONEY AT SUBSTANTIALLY LOWER RATES OF INTERST THAN IS POSSIBLE FROM SMALL LOAN COMPANIES OR LOCAL LENDING AGENCIES. 2. TO FURNISH THE OPPORTUNITY FOR INVESTMENT BY MEMBERS WHO DESIRE TO PUT THEIR MONEY IN A SAFE AND HELPFUL BUSINESS PROGRAM. FORM 990, PAGE 6, PART VI, LINE 4 DURING 2022 THE CREDIT UNION BY-LAWS WERE UPDATED TO ALLOW VIRTUAL MEETINGS. FORM 990, PAGE 6, PART VI, LINE 6 THE ORGANIZATION HAS MEMBERS. TO BE A MEMBER ONE MUST HAVE A SHARE (SAVINGS) ACCOUNT AT THE CREDIT UNION. FORM 990, PAGE 6, PART VI, LINE 7A THE BOARD OF DIRECTORS IS ELECTED BY THE CREDIT UNION MEMBERS. EACH MEMBER HAS ONE VOTE. FORM 990, PAGE 6, PART VI, LINE 7B A MEMBER VOTE IS REQUIRED FOR DECISIONS WHICH ARE BEYOND THE AUTHORITY OF THE BOARD OF DIRECTORS. ITEMS WHICH REQUIRE A MEMBERSHIP VOTE ARE OUTLINED AND SPECIFIED IN OUR BYLAWS. EACH MEMBER HAS ONE VOTE. FORM 990, PAGE 6, PART VI, LINE 11B MANAGEMENT PROVIDES NECESSARY DATA TO INDEPENDENT PREPARER WHO COMPLETES THE RETURN. MANAGEMENT REVIEWS THE RETURN FOR ACCURACY AND THEN AUTHORIZES PREPARER TO E-FILE THE APPROVED RETURN. MANAGEMENT REVIEWS THE 990 WITH THE DIRECTORS AT THE NEXT BOARD MEETING. FORM 990, PAGE 6, PART VI, LINE 12C A CONFLICT OF INTEREST STATEMENT IS COMPLETED AND SIGNED EACH YEAR. FORM 990, PAGE 6, PART VI, LINE 15A COMPARISON DATA IS COLLECTED AND REVIEWED BY BOARD OF DIRECTORS. CEO AND PRESIDENT'S COMPENSATION AMOUNTS ARE APPROVED BY BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 15B COMPARISON DATA IS COLLECTED AND REVIEWED BY BOARD OF DIRECTORS. EACH EMPLOYEE'S SALARY/WAGE IS APPROVED BY BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY. BYLAWS ARE AVAILABLE FOR REVIEW BY REQUEST.