2024-05-03T15:11:10-04:00 2023-12-31 461065712 BRENT WOOKEY CPA PO BOX 1512 LA CROSSE WI 546021512 990 2023-01-01 396049917 RACINE MUNICIPAL EMPLOYEES CREDIT UNION RACI 2626377274 1907 LATHROP AVENUE RACINE WI 53405 NICOLE CHRISTENSEN-ZABLER PRESIDENT/CEO 2626377274 2024-04-24 true NICOLE CHRISTENSEN-ZABLER 999009999 true BRENT WOOKEY CPA P00062439 6087920843 2024-05-03 X 2023 2023-04-26 12:10:37Z NICOLE CHRISTENSEN-ZABLER 1907 LATHROP AVENUE RACINE WI 53405 975678 false X RMECU.ORG X 1953 WI TO EXCEL IN PROVIDING SERVICES TO PRESENT AND PROSPECTIVE MEMBERS IN A FRIENDLY AND HELPFUL MANNER, WHILE MAINTAINING THE CREDIT UNION'S LONG-TERM FINANCIAL STABILITY. 7 7 8 7 1000 11988 665714 811719 66340 141000 3736 3449 735790 968156 1000 0 0 238881 244643 0 0 393994 433965 633875 678608 101915 289548 21352748 21290280 18864279 18613856 2488469 2676424 TO EXCEL IN PROVIDING SERVICES TO PRESENT AND PROSPECTIVE MEMBERS IN A FRIENDLY AND HELPFUL MANNER, WHILE MAINTAINING THE CREDIT UNION'S LONG-TERM FINANCIAL STABILITY. false false THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 256 NEW DEPOSIT ACCOUNTS IN 2023. AS OF 12/31/23 WE HAD 1,857 MEMBERS. THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 353 NEW LOANS DURING 2023. AS OF 12/31/23 WE HAD 1,135 LOANS RECEIVABLE. false false false false false false false false 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 564 0 true 8 true true true false false false false false false false X 7 7 false false false false true true true true true false false false false false true true false false X NICOLE CHRISTENSEN-ZABLER 2626377274 1907 LATHROP AVENUE RACINE WI 53405 NICOLE CHRISTENSEN-ZABLER PRESIDENT/CE 43.00 X 76484 0 8559 SCOTT SHARP CHAIR 0.50 X X 0 0 0 WILLIE MCDONALD VICE CHAIR 0.50 X X 0 0 0 DANIEL DEMATTHEW TREASURER 0.50 X X 0 0 0 CAROLYN MOSKONAS SECRETARY 1.00 X X 0 0 0 JOSE CARBAJAL DIRECTOR 0.50 X 0 0 0 TERRY MAIER DIRECTOR 0.50 X 0 0 0 CHAVAN SMITH DIRECTOR 0.50 X 0 0 0 76484 8559 false false false 11988 11988 INTEREST ON LOANS 522130 601234 601234 OTHER MEMBER RELATED INCOME 522130 135654 135654 MEMBER FEE INCOME 522130 73831 73831 FEE & INSURANCE INCOME 520000 1000 1000 811719 142822 142822 3449 3449 5700 7522 -1822 -1822 -1822 968156 808897 1000 146271 76484 136763 9784 4544 17068 1188 21323 714 7729 186702 75596 18465 20713 351 9900 13102 DIVIDENDS EXPENSE 77766 LOAN SERVICING EXPENSE 27851 GRANT EXPEDITURES 11988 CREDIT LOSS EXPENSE -39423 678608 0 0 0 383119 270504 2455456 2885321 15217738 16246970 20541 32396 633654 554764 88789 78890 3034917 1634917 152188 141282 21352748 21290280 346209 197272 18518070 18416584 18864279 18613856 X 2488469 2676424 2488469 2676424 21352748 21290280 X 289548 -101593 X false false 27100 27100 331442 291756 39686 275112 263008 12104 78890 INVESTMENTS WITH MATURITY > 1 YEAR 1550000 C CAPITAL ACCOUNT CORP CREDIT UNION 59917 C WI SHARED SERVICE CTR 20000 C WISCUB 5000 C 1634917 MEMBER SHARES & DEPOSITS 18416584 18416584 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 PRESIDENT/CEO PROVIDES NECESSARY DATA/INFORMATION TO INDEPENDENT CPA WHO COMPLETES THE RETURN. PRESIDENT REVIEWS THE PREPARED RETURN FOR ACCURACY THEN AUTHORIZES THE CPA TO E-FILE THE RETURN. PRESIDENT NOTIFIES BOARD OF DIRECTORS AT THEIR NEXT MEETING THE RETURN WAS SUCCESSFULLY FILED. COPIES ARE AVAILABLE TO THE DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 15A PRESIDENT/CEO'S COMPENSATION IS REVIEWED AT THE ANNUAL BUDGET MEETING. SALARY IS DISCUSSED, APPROVED BY BOARD, AND DOCUMENTED IN BOARD MINUTES. CEO IS NOT PRESENT IN CLOSED SESSIONS OF THE BOARD WHERE CEO SALARY IS DISCUSSED. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. PRIOR YEAR ENDING BALANCE SHEET IS POSTED IN CREDIT UNION LOBBY. FORM 990, PART XI, LINE 9 INITIAL CECL ADJUSTMENT -101,593