Westby Co-Op Credit Union

Organization Overview

Westby Co-Op Credit Union is located in Westby, WI. As of 12/2022, Westby Co-Op Credit Union employed 272 individuals. Westby Co-Op 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 12/2022, Westby Co-Op Credit Union generated $40.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $30.3m during the year ending 12/2022. While expenses have increased by 7.6% per year over the past 8 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

WESTBY CO-OP CREDIT UNION WILL PROVIDE SERVICES THAT ARE EFFICIENT, CONFIDENTIAL, AND ACCURATE IN A CONVENIENT AND FRIENDLY ENVIRONMENT. WE WILL BE COMPETITIVELY PRICED, TECHNOLOGICALLY ADVANCED AND ECONOMICALLY SOUND, AND SUPPORT OUR COMMUNITIES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDED 797 NEW LOANS TO MEMBERS THAT WERE FOR $2,000 OR LESS IN 2022.


WE FUNDED 11,487 LOANS DURING 2022. AS OF 12/31/22, WE HAD 3,458 MORTGAGES/HOME EQUITY, 13,266 CONSUMER LOANS, 3,587 BUSINESS LOANS, AND 5,845 CREDIT CARD ACCOUNTS.


PROVIDE LOW COST FINANCIAL SERVICES TO 40,396 MEMBERS. DURING 2022, WE OPENED 15,872 NEW DEPOSITS, TRANSACTION AND INVESTMENT ACCOUNTS.


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Board, Officers & Key Employees

Name (title)Compensation
Monte Torgerson
Chairperson Credit Com
$10,125
Kevin Larson
2nd Vice Chair
$7,350
Christine Sloat
Vice Chairman It Com
$7,275
Alan Berg
2nd Vice Chair Audit Com
$6,000
William Marohl
Secretary Audit Com
$9,750
Joanne Hurnfeld
2nd Vice Chair Alco Com
$6,900

Outside Vendors & Contractors

Vendor Name (Service)Compensation
La Macchia Group Llc
Construction
$1,689,018
Alkami Technology
Software
$517,782
Pscu
Software
$496,345
Case Financial
Hardware
$468,848
Jack Henry & Associates
Software/hardware
$444,189
View All Vendors

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$37,711,505
Investment income $2,579,694
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $40,291,199

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