2023-11-13T17:37:26-06:00 2022-12-31 381357951 PLANTE & MORAN PLLC 2601 CAMBRIDGE CT STE 300 AUBURN HILLS MI 48326 990 2022-01-01 390711674 VERVE CREDIT UNION VERV 8004489228 2900 UNIVERSAL STREET OSHKOSH WI 549033046 GLEN STITELEY CHIEF FINANCIAL OFFICER 8004489228 2023-11-13 1 GLEN STITELEY 999009999 1 TINA PETERS P00904574 2483757100 2023-11-13 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z KEVIN RALOFSKY 2900 UNIVERSAL STREET OSHKOSH WI 549033046 95833086 0 X WWW.VERVEACU.COM X 1937 WI A NONPROFIT MEMBER-OWNED THRIFT INSTITUTION ORGANIZED TO PROVIDE FINANCIAL SERVICES TO INDIVIDUALS. OPERATIONS ARE PRIMARILY RELATED TO HOLDING DEPOSITS FOR AND MAKING LOANS TO MEMBERS. 9 9 348 13 289518 28323 0 0 54919172 56684941 4767186 6776347 202861 61500 59889219 63522788 0 0 0 0 22269384 21775260 0 0 0 28887652 35445345 51157036 57220605 8732183 6302183 1476413333 1533220965 1339727604 1432257841 136685729 100963124 A NONPROFIT MEMBER-OWNED THRIFT INSTITUTION ORGANIZED TO PROVIDE FINANCIAL SERVICES TO INDIVIDUALS. OPERATIONS ARE PRIMARILY RELATED TO HOLDING DEPOSIT FOR AND MAKING LOANS TO MEMBERS. 0 0 HOLDING DEPOSITS FOR AND MAKING LOANS TO MEMBERS. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 24061 0 1 348 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X GLEN STITELEY 8004489228 2900 UNIVERSAL ST PO BOX 3046 OSHKOSH WI 54902 VICTORIA BELTRAN CHAIR 1.00 0.00 X X 24000 0 0 BILL COLCLOUGH TREASURER 1.00 0.00 X X 21000 0 0 MICHAEL POLLACK VICE CHAIR 1.00 0.00 X X 21000 0 0 BRIAN BORCHARDT DIRECTOR 1.00 0.00 X 18000 0 0 KEVIN BORNEMANN DIRECTOR 1.00 0.00 X 21250 0 0 ROBERT HERNKE DIRECTOR 1.00 0.00 X 18000 0 0 ADRIENNE HARTMAN DIRECTOR 1.00 0.00 X 18000 0 0 AMY DAHLKE DIRECTOR 1.00 0.00 X 18000 0 0 SAM MCCLONE DIRECTOR 1.00 0.00 X 9000 0 0 JACOB GOSZ DIRECTOR 1.00 0.00 X 9000 0 0 TONY MAYHUGH DIRECTOR 1.00 0.00 X 9000 0 0 KEVIN RALOFSKY PRESIDENT/CEO 55.00 0.00 X 847443 0 43994 SCOTT WILLMOTT CFO 55.00 0.00 X 378165 0 37011 KARRIE DROBNICK CMO/COO 55.00 0.00 X 370394 0 25911 KENNETH BUKSNES CHIEF CREDIT OFFICER 55.00 0.00 X 263016 0 32833 CHRIS BUTLER REGIONAL PRESIDENT 55.00 0.00 X 270037 0 32800 JOHN HILL VP OF BUSINESS LENDING 50.00 0.00 X 320965 0 14222 ROBERT KETTER VP OF IT 55.00 0.00 X 171617 0 9451 RENEE MAEDER VP OF RETAIL 50.00 0.00 X 157250 0 6767 TODD SLAGTER VP OF LEGAL & RISK MANAGEMENT 50.00 0.00 X 201663 0 9643 RYAN DIDRECKSON COO/VP OF OPERATIONS 55.00 0.00 X 158096 0 4389 3324896 0 217021 17 0 1 0 BUSINESS LENDING GROUP LLC 2350 N CASALOMA DR SUITE 100 APPLETON WI 54913 LOAN SERVICING 1304156 ENGAGE FI LLC 5550 W EXECUTIVE DR SUITE 540 TAMPA FL 33609 CONSULANT/PROJECT MANAGEMENT 258351 MORTGAGE CADENCE LLC 500 W MADISON ST CHICAGO IL 60661 MORTGAGE SOFTWARE 232914 WIPFLI LLP PO BOX 3160 MILWAUKEE WI 53201 AUDITOR 157764 4 LOAN INTEREST 522100 43066004 43066004 INTERCHANGE 522100 5906049 5906049 FEE INCOME 522100 5123463 5072151 51312 INSURANCE INCOME 522100 1782237 1573637 208600 WEALTH MANAGEMENT INCOME 522100 302905 302905 504283 504283 56684941 5718442 5718442 61500 0 61500 61500 31894 29606 32315000 1053203 32310298 0 4702 1053203 1057905 1057905 63522788 56456923 289518 6776347 2487854 15064777 566774 2492321 1163534 49600 1202700 258186 2394013 6582894 2087709 2976350 376058 3236348 3358786 DIVIDENDS ON SHARES 4608946 PROVISION FOR LOAN LOSS 3392622 OUTSIDE SERVICES 2721733 LOAN SERVICING 2199400 57220605 3287222 13673378 55811657 48200847 6219304 3899924 10204860 9797760 976545858 1122409366 1092481 1564067 50970631 14033128 38053934 36937503 325580949 234972843 569450 390178 14717369 15561776 23133803 22023387 21196446 23789936 1476413333 1533220965 10600521 16255790 117099323 201153795 1212027760 1214848256 1339727604 1432257841 X 0 0 10000000 10000000 126685729 90963124 136685729 100963124 1476413333 1533220965 6302183 -42024788 0 X X 0 1 X 1 0 0 1 X 9317989 9317989 25815945 5661425 20154520 2701899 810570 1891329 13134798 7561133 5573665 36937503 DEMAND DEPOSITS 1212397456 LEASE LIABILITY - RIGHT OF USE 2450800 1214848256 X 63522788 0 63522788 0 63522788 57220605 0 57220605 0 57220605 PART IV, LINE 2B: ESCROW ACCOUNTS ARE MAINTAINED FOR HOME EQUITY LOANS. PART X, LINE 2: IN ACCORDANCE WITH GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, MANAGEMENT EVALUATED THE CREDIT UNION'S TAX POSITION AND DOES NOT BELIEVE THE CREDIT UNION HAS ANY UNCERTAIN TAX POSITIONS THAT REQUIRE DISCLOSURE OR ADJUSTMENT TO THE FINANCIAL STATEMENTS. X X 1 1 X X X X 0 1 0 KEVIN RALOFSKY PRESIDENT/CEO 579803 0 267640 0 0 0 15250 0 28744 0 891437 0 0 0 SCOTT WILLMOTT CFO 272913 0 105252 0 0 0 14227 0 22784 0 415176 0 0 0 KARRIE DROBNICK CMO/COO 272968 0 97426 0 0 0 14110 0 11801 0 396305 0 0 0 JOHN HILL VP OF BUSINESS LENDING 202348 0 12230 0 106387 0 0 0 14222 0 335187 0 0 0 CHRIS BUTLER REGIONAL PRESIDENT 199780 0 70257 0 0 0 10030 0 22770 0 302837 0 0 0 KENNETH BUKSNES CHIEF CREDIT OFFICER 198982 0 64034 0 0 0 10063 0 22770 0 295849 0 0 0 TODD SLAGTER VP OF LEGAL & RISK MANAGEMENT 167662 0 34001 0 0 0 8201 0 1442 0 211306 0 0 0 ROBERT KETTER VP OF IT 150784 0 20833 0 0 0 7523 0 1928 0 181068 0 0 0 RENEE MAEDER VP OF RETAIL 119487 0 37763 0 0 0 5741 0 1026 0 164017 0 0 0 RYAN DIDRECKSON COO/VP OF OPERATIONS 82412 0 75684 0 0 0 3782 0 607 0 162485 0 0 0 PART I, LINE 1A 1A. GROSS-UP PAYMENTS: MADE ON PAYROLL CHECKS FOR PAYMENT OF EXECUTIVE LTD BENEFIT AND LIFE INSURANCE. PART I, LINE 4B CHRISTOPHER BUTLER - NO CONTRIBUTIONS OR DISTRIBUTIONS KARRIE DROBNICK - $20,500 OF CONTRIBUTIONS SCOTT WILLMOTT - $20,500 OF CONTRIBUTIONS WILLIAM WUSKE - $82,000 OF DISTRIBUTIONS KEVIN RALOFSKY PRESIDENT SPLIT-DO X 5672555 5014895 0 1 1 KARRIE DROBNICK CHIEF MARKETING OFFICER SPLIT-DO X 1225000 1127232 0 1 1 SCOTT WILLMOTT CHIEF FINANCIAL OFFICER SPLIT-DO X 2300000 2178505 0 1 1 WILLIAM WUSKE CHIEF OPERATING OFFICER SPLIT-DO X 1250000 1081079 0 1 1 CHRISTOPHER BUTLER REGIONAL PRESIDENT SPLIT-DO X 400000 396049 0 1 1 9797760 FORM 990, PART VI, SECTION A, LINE 6 MEMBERS ARE INDIVIDUALS THAT MEET THE FIELD OF MEMBERSHIP REQUIREMENTS WHO HAVE DEPOSTIS WITH THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A BOARD OF DIRECTORS IS ELECTED BY MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B PER THE BY-LAWS, CERTAIN DECISIONS REQUIRE MEMBERSHIP APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B BOARD MEETING REVIEW FORM 990, PART VI, SECTION B, LINE 12C DISCUSSION IN BOARD MINUTES FORM 990, PART VI, SECTION B, LINE 15 USE CUES/CEO & EXECUTIVE SURVEYS AND ANALYSIS, AND THE BOARD REVIEWS THE INFORMATION FOR THE CEO. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST. PART XII, LINE 2C NO CHANGES FROM PRIOR YEAR.