2024-11-13T16:47:12+00:00 2023-12-31 440160260 Forvis Mazars LLP 1901 S Meyers Road Suite 500 Oakbrook Terrace IL 601815209 990 2023-01-01 390334442 Guardian Credit Union GUAR 4145467450 7801 S Howell Avenue Oak Creek WI 53154 Kevin Nitka CEO 2024-11-13 true Michael Summers P00838533 6302829500 2024-11-15 2023 2024-10-15 13:58:12Z Kevin Nitka 7801 S Howell Avenue Oak Creek WI 53154 16900806 false X WWW.GUARDIANCU.ORG X 1934 WI GUARDIAN CREDIT UNION IS A NOT-FOR-PROFIT MEMBER OWNED FINANCIAL COOPERATIVE DEDICATED TO BEING THE MEMBER'S PRIMARY FINANCIAL INSTITUTION BY PROVIDING SUPERIOR SERVICES. 7 7 115 7 231126 0 0 0 11828753 15309078 1669732 1581986 0 0 13498485 16891064 0 0 504216 1003134 5578431 6442458 0 0 0 5751082 6696572 11833729 14142164 1664756 2748900 299131621 288595168 280635110 267909365 18496511 20685803 GUARDIAN CREDIT UNION IS A NOT-FOR-PROFIT MEMBER OWNED FINANCIAL COOPERATIVE DEDICATED TO BEING THE MEMBER'S PRIMARY FINANCIAL INSTITUTION BY PROVIDING SUPERIOR, COMPREHENSIVE, COURTEOUS AND PROMPT SERVICES. false false GUARDIAN CREDIT UNION IS THE LARGEST FULL-SERVICE CREDIT UNION HEADQUARTERED IN MILWAUKEE, WISCONSIN WITH $289 MILLION IN ASSETS PROVIDING SAVINGS AND LENDING SERVICES TO OVER 27,631 MEMBERS WORKING AND LIVING IN SOUTHEAST WISCONSIN. WE HAVE OVER $184.7 MILLION IN CONSUMER LOANS OUTSTANDING. IN ADDITION, WE SERVICE OVER $208.8 MILLION IN 1ST MORTGAGE LOANS INCLUDING $1.4 MILLION IN COMMERCIAL REAL ESTATE LOANS. WE HAVE TOTAL DEPOSITS IN EXCESS OF $259.5 MILLION INCLUDING REGULAR SAVINGS, CHECKING, CERTIFICATES OF DEPOSIT, IRA'S, HEALTH SAVINGS ACCOUNTS, CHRISTMAS CLUB AND YOUTH SAVINGS ACCOUNTS. 14,499 OF OUR MEMBERS HAVE A CHECKING ACCOUNT WITH US WHICH IS 52.5% OF OUR TOTAL MEMBERSHIP. MANY OF OUR CHECKING ACCOUNT MEMBERS USE DIRECT DEPOSIT AND OTHER ELECTRONIC DELIVERY CHANNELS SUCH AS INTERNET BANKING AND BILL PAYMENT. 0 false false false false false false true false true false true false true true false true false false false false false false false false false false false true false true false true true false false false false false true false false false true 3921 0 115 true true true false false false false false false false X 7 7 false false false false true true true true true false false true true true true true true true true false X JIM CHUDY 4145467450 11220 WEST OKLAHOMA AVE WEST ALLIS WI 53227 DOUGLAS MILLER SECRETARY 1.0 X X 0 0 0 JOHN BOSBOUS BOARD VICECHAIRMAN 1.0 X X 0 0 0 ROBERT JELINEK BOARD CHAIRMAN 2.0 X X 0 0 0 DARCI MIDDAUGH DIRECTOR 1.0 X 0 0 0 DAVID RANK DIRECTOR 1.0 X 0 0 0 PHILIP BAUER DIRECTOR 1.0 X 0 0 0 ROSE BARTKOWIAK DIRECTOR 1.0 X 0 0 0 KEVIN NITKA CEO/BOARD TREASURER 40.0 X 265226 0 23750 DAVID ZWASKA CHIEF CREDIT OFFICER 40.0 X 134271 0 18260 JAMES CHUDY CHIEF ACCOUNTING OFFICER 40.0 X 131865 0 11923 KEVIN CORREA CHIEF ADMINISTRATION OFFICER 40.0 X 133393 0 12390 NATHANAEL TULLIS VP OF INFORMATION TECHNOLOGY 40.0 X 108657 0 24696 STEVEN HEIDERER SENIOR VICE PRESIDENT 40.0 X 143598 0 27855 917010 0 118874 8 false true false 0 0 Loan Interest 900099 9566636 9566636 Fee Income 522100 3366112 3202796 163316 Other Operating Income 900099 2376330 2308520 67810 0 0 0 0 15309078 1511692 1511692 0 0 80036 9742 0 70294 70294 70294 0 0 0 0 0 16891064 15077952 231126 1581986 1003134 288976 4798794 97788 879539 377361 18686 54600 287648 98337 2230520 664983 40704 776626 40810 Provision for Loan Losses 1044435 Loan Servicing 757938 Education/Promotional Expense 253367 Bank Service Charges 187356 240562 14142164 3797396 13416540 16105000 13711000 407156 189132 0 196307881 183221233 1322950 1224168 22652338 12726820 9895178 9925518 0 61331817 57515801 9964243 9391776 299131621 288595168 1372071 1477750 147898 237500 28556 275744 129760 0 6848917 6867417 272107908 259050954 280635110 267909365 X 18496511 20685803 18496511 20685803 299131621 288595168 X 2748900 -559608 X false true X true false false true X 2287695 2287695 11682692 5680200 6002492 2349066 1295858 1053208 6332885 5750762 582123 9925518 Investments 57515801 C 57515801 Shares and Deposits 259050954 259050954 X Schedule D, Part IV, Line 2b Explanation of escrow agreement THE CREDIT UNION SERVICES FIRST MORTGAGE LOANS SOLD. CUSTODIAL ESCROW BALANCES ARE MAINTAINED IN CONNECTION WITH THESE LOANS. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote THE CREDIT UNION IS EXEMPT, UNDER INTERNAL REVENUE CODE (IRC) 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES, AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION FOLLOWS THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. AS A RESULT, THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2023 AND 2022. THE CREDIT UNION'S 2020 AND SUBSEQUENT TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. X X X false false false KEVIN NITKA CEO/BOARD TREASURER 259226 0 6000 0 0 0 7957 0 15793 0 288976 0 0 0 STEVEN HEIDERER SENIOR VICE PRESIDENT 138598 0 5000 0 0 0 4308 0 23547 0 171453 0 0 0 DAVID ZWASKA CHIEF CREDIT OFFICER 125021 0 9250 0 0 0 3276 0 14984 0 152531 0 0 0 Rosemary Bartkowiak Director CC X 10000 245 false true true Kevin Correa Officer 1st Mortgage X 132000 101750 false true true David Zwaska Officer Auto X 26835 3336 false true true Robert Jelinek Director 1st Mortgage X 70000 59161 false true true Kevin Nitka Officer CC X 12000 4492 false true true David Zwaska Officer Auto X 35000 20040 false true true Robert Jelinek Director CC X 7000 108 false true true 189132 Form 990, Part VI, Line 6 Classes of members or stockholders THE CREDIT UNION HAS MEMBERS WHO ARE OWNERS OF THE CREDIT UNION AND ANNUALLY ELECT MEMBERS OF THE GOVERNING BODY. ALL MEMBERS HAVE THE SAME VOTING RIGHTS. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body MEMBERS VOTE ANNUALLY TO ELECT THE GOVERNING BODY. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders DECISIONS OF THE GOVERNING BODY SUBJECT TO APPROVAL BY MEMBERS INCLUDE MERGER OR NAME CHANGE. Form 990, Part VI, Line 11b Review of form 990 by governing body THE FORM 990 IS ADDED TO THE MONTHLY BOARD MEETING AGENDA AND REVIEWED BY THE BOARD OF DIRECTORS PRIOR TO FILING. Form 990, Part VI, Line 12c Conflict of interest policy THE CREDIT UNION HAS EMPLOYEES SIGN A CONFLICT-OF-INTEREST STATEMENT ON AN ANNUAL BASIS. IF A CONFLICT OF INTEREST WERE TO BE DISCOVERED DURING THE COURSE OF THE YEAR, IT WOULD BE REPORTED BY OUR SVP AND CHIEF OPERATING OFFICER TO THE AUDIT COMMITTEE OF GUARDIAN CREDIT UNION. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE HR COMMITTEE AND BOARD OF DIRECTORS EVALUATE AND REVIEW THE CEO'S COMPENSATION ANNUALLY. Form 990, Part VI, Line 15b Process to establish compensation of other employees THE PROCESS FOR DETERMINING COMPENSATION FOR TOP MANAGEMENT OFFICIALS, OFFICERS, AND KEY EMPLOYEES IS BASED ON MARKET REVIEWS FOR CREDIT UNIONS IN OUR REGION AND BASED ON ASSET SIZE. THIS PROCESS WAS LAST COMPLETED IN 2023. Form 990, Part VI, Line 19 Required documents available to the public FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part XI, Line 9 Other changes in net assets or fund balances Adjustment for adoption of ASC 326 - -559608; GUARDIAN TAX SERVICES LLC 4501 W GREENFIELD AVE WEST MILWAUKEE WI 53214 464097504 TAX PREPARATION WI 36916 183668 Guardian Credit Union