Kohler Credit Union
- Assets
- $570.4m
- Revenue
- $21.9m
- Investments
- $742.5k
- Employees
- 215
- Location
- Sheboygan, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-0402815
Organization Overview
Kohler Credit Union is located in Sheboygan, WI. As of 12/2021, Kohler Credit Union employed 215 individuals. Kohler 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, Kohler Credit Union generated $21.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $18.7m during the year ending 12/2021. While expenses have increased by 3.6% 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
TO ENCOURAGE THRIFT AMONG MEMBERS; TO CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE COST; TO PROVIDE AN OPPORTUNITY FOR EACH MEMBER TO IMPROVE THEIR RESPECTIVE ECONOMIC AND SOCIAL CONDITIONS; AND TO PERFORM THE FUNCTIONS AND EXERCISE THE POWERS DESIGNATED FOR CREDIT UNIONS UNDER APPLICABLE LAW.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MORE THAN $211 MILLION IN NEW LOANS WERE ORIGINATED AND OVER $397 MILLION IN LOAN BALANCES WERE SERVICED FOR MEMBER/OWNERS.
MORE THAN $523 MILLION IN DEPOSIT ACCOUNTS WERE MAINTAINED AND OVER $881 THOUSAND IN DIVIDENDS WERE PAID ON DEPOSIT ACCOUNTS TO MORE THAN 42,700 MEMBER/OWNERS IN 2021.
DATA PROCESSING COSTS EXCEEDING $1.9 MILLION WERE INCURRED TO RECORD MEMBER ACCOUNT ACTIVITY AND PROVIDE MEMBERS ACCESS TO THEIR ACCOUNTS VIA HOME BANKING, ATM NETWORKS AND IN PERSON AT THE CREDIT UNION.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tony Klockow President | Officer | 50 | $404,282 |
Amy Grinna Evp | Officer | 50 | $220,335 |
Dan Bodart Mortgage Loan Originator | 40 | $189,346 | |
Alexis Rodriguez Mortgage Loan Originator | 40 | $155,671 | |
Rebecca Hubbell Mortgage Loan Originator | 40 | $151,154 | |
Deniss Makenjenko SVP Branch Operations | 50 | $145,952 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fiserv Data Processing | 12/30/21 | $1,527,104 |
Fis Debit Card Processing | 12/30/21 | $784,861 |
Q2 Software Inc Software Provider | 12/30/21 | $617,361 |
Heritage Valuation Services Llc Property Appraisals | 12/30/21 | $242,575 |
Cornerstone Advisors Inc Project Management/consulting | 12/30/21 | $239,102 |
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 | $21,484,896 |
| Investment income | $460,499 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,422 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,942,973 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $37,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $881,708 |
| Compensation of current officers, directors, key employees. | $917,679 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,273,338 |
| Pension plan accruals and contributions | $375,975 |
| Other employee benefits | $663,120 |
| Payroll taxes | $562,435 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $32,984 |
| Fees for services: Accounting | $100,208 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $115,460 |
| Advertising and promotion | $0 |
| Office expenses | $4,790,766 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $845,002 |
| Travel | $424,080 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $40 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,473,144 |
| Insurance | $0 |
| All other expenses | $39,004 |
| Total functional expenses | $18,737,890 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,439,334 |
| Savings and temporary cash investments | $64,729,304 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $133,223 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $397,677,717 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $921,854 |
| Net Land, buildings, and equipment | $27,034,346 |
| Investments—publicly traded securities | $50,799,385 |
| Investments—other securities | $742,500 |
| Investments—program-related | $2,100,190 |
| Intangible assets | $0 |
| Other assets | $19,812,960 |
| Total assets | $570,390,813 |
| Accounts payable and accrued expenses | $3,870,464 |
| 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 | $523,668,076 |
| Total liabilities | $527,538,540 |
| 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 | $42,852,273 |
| Total liabilities and net assets/fund balances | $570,390,813 |
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