Connexus Credit Union
- Assets
- $3.9b
- Revenue
- $275.6m
- Investments
- $16.8m
- Employees
- 591
- Location
- Wausau, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-0263945
Organization Overview
Connexus Credit Union is located in Wausau, WI. As of 12/2021, Connexus Credit Union employed 591 individuals. Connexus Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2021, Connexus Credit Union generated $275.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 26.2% each year . All expenses for the organization totaled $200.5m during the year ending 12/2021. While expenses have increased by 23.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ENCOURAGE THRIFT AND SELF RELIANCE AMONG MEMBERS BY PROVIDING DEPOSIT AND LENDING PRODUCTS AT COMPETITIVE TERMS IN ORDER TO IMPROVE SOCIAL CONDITIONS OF THE MEMBERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE OUR MEMBERS DEPOSIT SERVICES FOR THEIR FUNDS TO EARN THEM A FAIR RATE OF RETURN
PROVIDE OUR MEMBERS LOAN SERVICES AT A FAIR RATE OF INTEREST
PROVIDE OUR MEMBERS ACCESS TO CHECK SERVICES AND OTHER FINANCIAL PRODUCTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daryl R Gessler Cro | Officer | 50 | $728,763 |
Boyd J Gustke Ceo/president | Officer | 50 | $703,552 |
Jessica Huggenvik Chro | Officer | 50 | $422,268 |
Mary J Burgoyne CFO | Officer | 50 | $385,331 |
Chad E Rogers Evp/coo | Officer | 50 | $368,181 |
Eric Huseby Clo | Officer | 50 | $262,460 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ghidorzi Construction Remodeling Branch | 12/30/21 | $2,503,825 |
Alkami Technology Inc Digital Banking | 12/30/21 | $1,323,358 |
Cdw Direct Hardware/software | 12/30/21 | $1,169,720 |
Fiserv Inc Core And Debit Card Processing | 12/30/21 | $957,214 |
Xpress Data Inc Statement Processing | 12/30/21 | $986,617 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $268,103,874 |
| Investment income | $814,384 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,692,694 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $275,583,742 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $50,876,039 |
| Compensation of current officers, directors, key employees. | $3,541,987 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $27,427,671 |
| Pension plan accruals and contributions | $2,050,948 |
| Other employee benefits | $8,202,189 |
| Payroll taxes | $2,378,714 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,136,687 |
| Fees for services: Accounting | $151,086 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,913 |
| Fees for services: Other | $6,157,586 |
| Advertising and promotion | $974,326 |
| Office expenses | $3,308,280 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,234,770 |
| Travel | $309,969 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,977,269 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $200,526,139 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $345,359,844 |
| Savings and temporary cash investments | $485,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $23,500,934 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,380,104,624 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,220,291 |
| Net Land, buildings, and equipment | $12,867,680 |
| Investments—publicly traded securities | $3,500,000 |
| Investments—other securities | $16,776,390 |
| Investments—program-related | $0 |
| Intangible assets | $7,711,710 |
| Other assets | $89,917,973 |
| Total assets | $3,884,444,446 |
| Accounts payable and accrued expenses | $32,918,449 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,455,668,251 |
| Total liabilities | $3,488,586,700 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $395,857,746 |
| Total liabilities and net assets/fund balances | $3,884,444,446 |
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