2025-11-13T14:33:05-06:00 2024-12-31 331498605 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2024-01-01 390711674 VERVE CREDIT UNION VERV 8004489228 2900 UNIVERSAL STREET OSHKOSH WI 549033046 GLEN STITELEY CHIEF FINANCIAL OFFICER 8004489228 2025-11-13 1 1 JOSHUA NITZ CPA P01946955 2695674500 2025-11-13 2024 2025-03-06 01:10:19Z KEVIN RALOFSKY 2900 UNIVERSAL STREET OSHKOSH WI 549033046 82822496 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. 8 8 299 0 291760 0 0 0 61727742 72573364 8357378 8810685 51043 60311 70136163 81444360 0 0 0 0 21932287 22953549 0 0 0 49571255 57680721 71503542 80634270 -1367379 810090 1478626183 1536325468 1375847199 1432095322 102778984 104230146 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 29655 0 1 299 1 1 1 0 0 0 0 0 0 0 X 8 8 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 CHAIRPERSON 1.00 0.00 X X 0 0 0 MICHAEL POLLACK VICE CHAIRPERSON 1.00 0.00 X X 0 0 0 ERIN WINTERS TREASURER 1.00 0.00 X X 0 0 0 KEVIN BORNEMANN SECRETARY 1.00 0.00 X X 0 0 0 BRIAN BORCHARDT DIRECTOR 1.00 0.00 X 0 0 0 JACOB GOSZ DIRECTOR 1.00 0.00 X 0 0 0 ADRIENNE HARTMAN DIRECTOR 1.00 0.00 X 0 0 0 TONY MAYHUGH DIRECTOR 1.00 0.00 X 0 0 0 CHRISTA WILLIAMS DIRECTOR 1.00 0.00 X 0 0 0 KEVIN RALOFSKY PRESIDENT/CEO 40.00 0.00 X 678466 0 49526 GLEN STITELEY CFO 40.00 0.00 X 322255 0 36136 MITCH KIME CHIEIF GROWTH OFFICER 40.00 0.00 X 219947 0 9884 KENNETH BUKSNES CHIEF CREDIT OFFICER 40.00 0.00 X 249608 0 28363 JOHN HILL VP OF BUSINESS LENDING 40.00 0.00 X 266616 0 16192 CHRIS BUTLER REGIONAL PRESIDENT - PART YEAR 40.00 0.00 X 343593 0 31343 REMA MOMBERG VP OF HUMAN RESOURCES 40.00 0.00 X 196536 0 10014 ROBERT KETTER VP OF TECHNOLOGY 40.00 0.00 X 185962 0 10326 RENEE MAEDER VP OF SALES & SERVICE 40.00 0.00 X 168069 0 11678 GRANT WHEAT VP OF RISK MANAGEMENT 40.00 0.00 X 178575 0 19408 MICHAEL SIMONDS VP OF LOAN OPERATIONS 40.00 0.00 X 170865 0 10530 CARI LARSEN CONTROLLER 40.00 0.00 X 165641 0 8830 3146133 0 242230 20 0 1 0 BUSINESS LENDING GROUP LLC 2350 N CASALOMA DR SUITE 100 APPLETON WI 54913 BUSINESS LENDING PROCESSOR/CUSO 824504 ENGAGE FI LLC 5550 W EXECUTIVE DR SUITE 540 TAMPA FL 33609 CONSULANT/PROJECT MANAGEMENT 782500 MORTGAGE CADENCE LLC 500 W MADISON ST CHICAGO IL 60661 MORTGAGE SOFTWARE 179510 ALM FIRST GROUP LLC 3800 MAPLE AVE SUITE 600 DALLAS TX 75219 RECRUITING/COMPENSATION ANALYSIS 155294 MARCO TECHNOLOGIES NW 7128 PO BOX 1450 MINNEAPOLIS MN 55485 IT SUPPORT/CONSULTANT 107262 5 LOAN INTEREST 522100 59460418 59460418 INTERCHANGE 522100 5885326 5885326 FEE INCOME 522100 5397414 5291552 105862 INSURANCE INCOME 522100 1167863 981965 185898 662343 662343 72573364 8498943 8498943 60311 0 60311 60311 60311 1689878 1378136 311742 311742 311742 81444360 72341915 291760 8810685 3561683 15111633 531429 2442132 1306672 24000 2389973 332890 1745247 5501436 2422359 3084501 224180 5391098 2977837 DIVIDENDS ON SHARES 25040118 PROVISION FOR LOAN LOSS 5172225 LOAN SERVICING 1959307 OUTSIDE SERVICES 1415550 80634270 9619446 10779467 95415381 75944103 3333064 5272439 9634409 17170391 1049915830 1144753372 1447620 2902902 48991623 16926934 34849884 32064689 216593746 195311155 290510 369197 11448284 11725185 20912970 20131396 25165039 19901172 1478626183 1536325468 17563799 12265701 88892378 120546757 1269391022 1299282864 1375847199 1432095322 X 0 0 0 0 102778984 104230146 102778984 104230146 1478626183 1536325468 810090 641072 0 X X 0 1 X 1 0 0 1 X 8942089 8942089 24334431 6551166 17783265 2701899 1350949 1350950 13013204 9024819 3988385 32064689 DEMAND DEPOSITS 1297325944 LEASE LIABILITY - RIGHT OF USE 1956920 1299282864 X 81444360 0 81444360 0 81444360 80634270 0 80634270 0 80634270 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 X 0 0 0 KEVIN RALOFSKY PRESIDENT/CEO 609466 0 69000 0 0 0 17250 0 32276 0 727992 0 0 0 CHRIS BUTLER REGIONAL PRESIDENT - PART YEAR 316472 0 27121 0 0 0 14255 0 17088 0 374936 0 0 0 GLEN STITELEY CFO 291369 0 30886 0 0 0 14340 0 21796 0 358391 0 0 0 JOHN HILL VP OF BUSINESS LENDING 253707 0 6783 0 6126 0 0 0 16192 0 282808 0 0 0 KENNETH BUKSNES CHIEF CREDIT OFFICER 224483 0 25125 0 0 0 11275 0 17088 0 277971 0 0 0 MITCH KIME CHIEIF GROWTH OFFICER 219947 0 0 0 0 0 9061 0 823 0 229831 0 0 0 REMA MOMBERG VP OF HUMAN RESOURCES 177410 0 19126 0 0 0 8607 0 1407 0 206550 0 0 0 GRANT WHEAT VP OF RISK MANAGEMENT 172396 0 6179 0 0 0 8740 0 10668 0 197983 0 0 0 ROBERT KETTER VP OF TECHNOLOGY 174580 0 11382 0 0 0 8601 0 1725 0 196288 0 0 0 MICHAEL SIMONDS VP OF LOAN OPERATIONS 160802 0 10063 0 0 0 7935 0 2595 0 181395 0 0 0 RENEE MAEDER VP OF SALES & SERVICE 152781 0 15288 0 0 0 7413 0 4265 0 179747 0 0 0 CARI LARSEN CONTROLLER 157402 0 8239 0 0 0 7683 0 1147 0 174471 0 0 0 PART I, LINE 1A OUT-OF-STATE TRAVEL EXPENSES ASSOCIATED WITH THE SPOUSE/TRAVEL PARTNER OF A DIRECTOR, ERM COMMITTEE MEMBER, C-LEVEL OFFICERS AND PRESIDENTS MAY BE REIMBURSED. THESE EXPENSES ARE TO BE KEPT SEPARATE AND THE SAME DOCUMENTATION AND REIMBURSEMENT PROCEDURES APPLY. IF REIMBURSEMENTS FOR A SPOUSE/TRAVEL PARTNER EXCEEDS $600 IN ANY CALENDAR YEAR IT WILL BE REPORTABLE AS NON-EMPLOYEE COMPENSATION AND A 1099-MISC TAX FORM WILL BE PRODUCED AND REPORTED ACCORDING TO IRS GUIDELINES. KEVIN RALOFSKY PRESIDENT SPLIT-DOLLAR LIFE INSURANCE X 5650000 6760631 0 1 1 KARRIE DROBNICK FORMER CHIEF OPERATING OFFICER SPLIT-DOLLAR LIFE INSURANCE X 1225000 1429523 0 1 1 SCOTT WILLMOTT FORMER CHIEF FINANCIAL OFFICER SPLIT-DOLLAR LIFE INSURANCE X 2300000 2606274 0 1 1 WILLIAM WUSKE FORMER CHIEF OPERATING OFFICER SPLIT-DOLLAR LIFE INSURANCE X 1250000 1514799 0 1 1 CHRISTOPHER BUTLER REGIONAL PRESIDENT SPLIT-DOLLAR LIFE INSURANCE X 400000 479854 0 1 1 GLEN STITELEY CHIEF FINANCIAL OFFICER SPLIT-DOLLAR LIFE INSURANCE X 4350000 4379310 0 1 1 17170391 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. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED THE OVERSIGHT PROCESS SINCE THE PRIOR YEAR.