Civic Intelligence

Summit Credit Union

990 • Fiscal year 2019 • EIN 39-0230585

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 13, 2020

Organization ProfileWWW.SUMMITCREDITUNION.COM

View Organization Page

PO Box 8046Madison, WI 53708-8046

(608) 243-5000

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

39th percentile

0.89x

Higher debt load relative to assets than 39% of similar nonprofits.

2019 filings • 501(c)14 • $1B+ nonprofits • Source year 2019

Liabilities / Revenue

53rd percentile

17.83x

Higher debt load relative to revenue than 53% of similar nonprofits.

2019 filings • 501(c)14 • $1B+ nonprofits • Source year 2019

Net Margin

83rd percentile

24%

Higher net margin than 83% of similar nonprofits.

2019 filings • 501(c)14 • $1B+ nonprofits • Source year 2019

Top Officer Pay

72nd percentile

$1,222,447

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2019 filings • 501(c)14 • $1B+ nonprofits • Source year 2019

Asset Growth

87th percentile

14%

Faster asset growth than 87% of similar nonprofits.

2019 filings • 501(c)14 • $1B+ nonprofits • Annualized from 2018 to 2019

Revenue Growth

88th percentile

19%

Faster revenue growth than 88% of similar nonprofits.

2019 filings • 501(c)14 • $1B+ nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets39th percentile

Assets

Up

$3,689,604,395

Up $465,434,172 (+14%) from 2018

Net Assets

Up

$423,834,229

Up $45,538,606 (+12%) from 2018

Liabilities

Up

$3,265,770,166

Up $419,895,566 (+15%) from 2018

Revenue And Expenses
Liabilities / Revenue53rd percentileNet Margin83rd percentile

Revenue

Up

$183,147,998

Up $29,532,480 (+19%) from 2018

Expenses

Up

$139,446,632

Up $24,961,364 (+22%) from 2018

Net Income

Up

$43,701,366

Up $4,571,116 (+12%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth87th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0B$6.0B$4.0B$2.0B$0Assets 2010: $1,581,105,305Liabilities 2010: $1,444,066,478Net Assets 2010: $137,038,8272010Assets 2011: $1,735,535,637Liabilities 2011: $1,578,800,691Net Assets 2011: $156,734,9462011Assets 2012: $1,886,824,377Liabilities 2012: $1,695,399,695Net Assets 2012: $191,424,6822012Assets 2013: $1,955,509,180Liabilities 2013: $1,739,747,505Net Assets 2013: $215,761,6752013Assets 2014: $2,076,034,803Liabilities 2014: $1,834,004,313Net Assets 2014: $242,030,4902014Assets 2015: $2,388,643,118Liabilities 2015: $2,118,414,699Net Assets 2015: $270,228,4192015Assets 2016: $2,664,821,119Liabilities 2016: $2,361,391,221Net Assets 2016: $303,429,8982016Assets 2017: $2,900,501,513Liabilities 2017: $2,560,601,385Net Assets 2017: $339,900,1282017Assets 2018: $3,224,170,223Liabilities 2018: $2,845,874,600Net Assets 2018: $378,295,6232018Assets 2019: $3,689,604,395Liabilities 2019: $3,265,770,166Net Assets 2019: $423,834,2292019Assets 2020: $4,326,305,460Liabilities 2020: $3,835,950,797Net Assets 2020: $490,354,6632020Assets 2021: $4,830,581,855Liabilities 2021: $4,275,073,315Net Assets 2021: $555,508,5402021Assets 2022: $6,224,510,320Liabilities 2022: $5,676,758,326Net Assets 2022: $547,751,9942022Assets 2023: $6,945,113,848Liabilities 2023: $6,333,434,715Net Assets 2023: $611,679,1332023Assets 2024: $7,458,311,100Liabilities 2024: $6,775,219,984Net Assets 2024: $683,091,1162024

Highlighted filing

2019

Assets$3,689,604,395
Liabilities$3,265,770,166
Net Assets$423,834,229
Open 2019 Filing

Operations Trend

Revenue Growth88th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600M$400M$200M$0Expenses 2010: $78,300,1012010Expenses 2011: $76,151,8482011Revenue 2012: $105,588,548Expenses 2012: $74,080,222Net Income 2012: $31,508,3262012Revenue 2013: $96,688,329Expenses 2013: $69,084,193Net Income 2013: $27,604,1362013Revenue 2014: $96,927,653Expenses 2014: $72,614,953Net Income 2014: $24,312,7002014Revenue 2015: $108,064,154Expenses 2015: $79,034,215Net Income 2015: $29,029,9392015Revenue 2016: $125,312,190Expenses 2016: $90,355,986Net Income 2016: $34,956,2042016Revenue 2017: $134,968,658Expenses 2017: $97,165,773Net Income 2017: $37,802,8852017Revenue 2018: $153,615,518Expenses 2018: $114,485,268Net Income 2018: $39,130,2502018Revenue 2019: $183,147,998Expenses 2019: $139,446,632Net Income 2019: $43,701,3662019Revenue 2020: $218,688,178Expenses 2020: $159,633,124Net Income 2020: $59,055,0542020Revenue 2021: $218,937,515Expenses 2021: $141,564,545Net Income 2021: $77,372,9702021Revenue 2022: $231,091,693Expenses 2022: $179,735,655Net Income 2022: $51,356,0382022Revenue 2023: $344,575,674Expenses 2023: $293,446,606Net Income 2023: $51,129,0682023Revenue 2024: $453,854,644Expenses 2024: $395,405,737Net Income 2024: $58,448,9072024

Highlighted filing

2019

Revenue$183,147,998
Expenses$139,446,632
Net Income$43,701,366
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 13, 2020
Return Version
2019v5.1
Gross Receipts
$184,065,779
Mission and Program Overview

Mission

A cooperative, nonprofit corporation, incorporated under wisconsin state law to encourage thrift among its members, create a source of credit at a fair and reasonable cost, and provide an opportunity for its members to improve their economic and social conditions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$2,757,256,944$2,917,577,836▲ $160,320,892
Rtn Earn Endowment Incm Other Fnds$378,295,623$423,834,229▲ $45,538,606
Savings and Temporary Cash Investments$95,353,328$392,035,994▲ $296,682,666
Investments Other Securities$153,191,665$139,100,062▼ $14,091,603
Land, Buildings, and Equipment, Net$104,708,042$120,340,150▲ $15,632,108
Investments Program Related$46,876,013$31,087,500▼ $15,788,513
Cash and Non-Interest-Bearing Accounts$12,643,445$13,365,728▲ $722,283
Receivables From Officers Etc$5,497,396$5,823,155▲ $325,759
Prepaid Expenses and Deferred Charges$3,417,303$3,256,985▼ $160,318
Accounts Receivable$2,263,422$1,932,278▼ $331,144
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$3,224,170,223$3,689,604,395▲ $465,434,172
Other Assets Total$42,962,665$65,084,707▲ $22,122,042
Liabilities
Other Liabilities$2,345,187,263$2,738,290,366▲ $393,103,103
Mortgage Notes Payable Secured by Investment Property$460,639,314$481,578,599▲ $20,939,285
Accounts Payable and Accrued Expenses$37,376,978$43,027,339▲ $5,650,361
Escrow Account Liability$2,671,045$2,873,862▲ $202,817
Total Liabilities$2,845,874,600$3,265,770,166▲ $419,895,566
Net Assets / Fund Balance
Total Net Assets Fund Balance$378,295,623$423,834,229▲ $45,538,606
Total Liabilities and Net Assets / Fund Balance$3,224,170,223$3,689,604,395▲ $465,434,172

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$85,208,698$25,023,696$110,232,394
Equipment$11,882,593$22,464,287$34,346,880
Land$18,135,933-$18,135,933
Other Land Buildings$3,513,189-$3,513,189
Leasehold Improvements$1,599,737$1,815,940$3,415,677
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kim SponemCEO/presidentFT$866,466$355,981$1,222,447
Keith PetersonCFOFT$284,388$458,277$742,665
Rebecca GerothanasCOOFT$265,006$297,834$562,840
Nancy KastenSVP Hr & LodFT$203,516$239,464$442,980
Christopher SchellCMOFT$202,917$230,887$433,804
Christopher HefterCIOFT$223,018$117,264$340,282
Mark KennedyCLOFT$154,486$108,374$262,860
Adam PelletterMortgage Loan OfficerFT$33,902$212,110$246,012
Kelly ErbachVP - Business Tech SolutionsFT$142,471$88,641$231,112
Donald LickelVP - Mortgage LendingFT$153,965$71,734$225,699
Eric MathiasVP Sales DevelopmentFT$151,481$58,608$210,089
Daniel PollyAvp - ItFT$155,634$51,931$207,565
Steve HansenMortgage Loan OfficerFT$30,374$173,277$203,651
Jeremy EpplerVP Risk ManagementFT$155,684$44,358$200,042
Timothy GreeneMortgage Loan OfficerFT$34,889$155,844$190,733
David ReszelVice Chair-$1,300-$1,300
MIKE O'BRIENDirector-$1,300-$1,300
Mike SchenkChair-$1,025-$1,025
Mary TurkeSecretary-$750-$750
John LitscherDirector-$750-$750
Bob LindnerDirector-$650-$650
Dennis SaueyDirector-$650-$650
Dan KaiserTreasurer-$550-$550
Stefanie NorvaisasDirector-$250-$250

Highest Paid Contractors

ContractorServicesLocationCompensation
Jh Findorff & Son INCGeneral Contractor330 S BEDFORD ST, Madison, WI 53703$4,986,254
Hiebing Group INCMarketing315 WISCONSIN AVE, Madison, WI 53703$2,558,242
Dart AppraisalMortgage Appraisal2600 W BIG BEAVER RD, Troy, MI 48084$1,850,225
Jack Henry & Associates INCData Processing SystemPO BOX 609, Monett, MO 65708$1,362,878
Mortgage Cadence LLCMortgage Processing28662 NETWORK PLACE, Chicago, IL 60673$1,108,324
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$174,791,657
Investment Income
$8,356,341
Other Revenue
$0
Change in Net Assets
$43,701,366

Audited Revenue Reconciliation

Revenue per Audited Statements
$183,241,906
Revenue Not Reported on Financial Statements
$-93,908
Revenue Not Reported on Form 990
$17,721
Other Revenue Adjustments
$-93,908
Total Revenue per Audited Statements
$183,259,627
Total Revenue per Form 990
$183,147,998
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$70,267,061
Salaries, Compensation, and Employee Benefits$48,650,482
Grants and Similar Amounts Paid$161,893
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$33,793,492
Benefits to Members---$20,367,196
Office Expenses---$18,262,720
Interest---$12,705,770
Depreciation Depletion---$7,119,348
Advertising---$5,690,762
Other Employee Benefits---$4,793,294
Current Officers, Directors, Trustees, and Key Employees---$4,650,933
Pension Plan Contributions---$2,841,087
Occupancy---$2,782,937
Payroll Taxes---$2,571,676
Other Expenses---$1,522,000
All Other Expenses---$1,437,144
Conferences and Meetings---$805,254
Fees for Services Accounting---$537,211
Fees for Services Legal---$471,330
Grants to Domestic Orgs---$161,893
Total Functional Expenses$0$0$0$139,446,632

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$139,558,260
Expenses per Audited Statements$139,464,352
Total Expenses per Form 990$139,446,632
Expenses Not Reported on Form 990$93,908
Expenses Not Reported on Financial Statements$-17,720
Other Expense Adjustments$-17,720
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Edgewood CollegeMadison, WI501(c)(3)Residence Hall Capital Campaign$14,286
Girl Scouts of AmericaMadison, WI501(c)(3)Girl Scouts Capital Campaign Year 2 of 2$12,500
United Way of Dane CountyMadison, WI501(c)(3)United Way Corporate Contribution/loan Exec Sponsor$11,000
Wisconsin Historical FoundationsMadison, WI501(c)(3)Gift Agreement Pledge$10,000
Goodman Community CenterMadison, WI501(c)(3)General Support$6,250
American Heart AssociationDallas, TX501(c)(3)General Support$6,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Summit Board Member Mary TurkeLegal ServicesNo$575,391

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$5,497,396$5,823,155▲ $325,759
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Shares and Deposits$2,738,290,366
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The credit union is comprised of a single class of more than 195,000 member-owners, each of which has equal rights in ownership, governance and voting rights at the annual meetings, with the exception of the member-owners who are elected to the board of directors.”

Form 990, Part VI, Section A, Line 7A

“The member-owners of the credit union have the authority to elect the members of the board of directors for three-year terms on a rotating basis. Candidates are elected by a simple plurality vote.”

Form 990, Part VI, Section A, Line 7B

“The by-laws may be amended, altered or repealed in any manner not inconsistent with applicable law by a majority vote of the board at any duly convened meeting of the board. These by-laws may be amended by three-fourths majority vote of the members present at any annual or special meeting of the members, if all notice and other requirements applicable to amendment of these by-laws are satisfied. No amendment, alteration, or repeal of these bylaws shall become effective until filed with and approval by the office of credit unions. Members also vote on approval of a name change.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is reviewed by the vp-risk management and cfo prior to filing. If there is uncertainty about a response, they will consult with the appropriate subject matter expert.”

Form 990, Part VI, Section B, Line 12C

“All employees and volunteers are covered by the conflict of interest policy, which prohibits engaging in transactions with parties where a conflict exists. All staff receive annual training on conflict of interest and are required to re-read the document annually. The core system also prohibits employees from completing transactions on accounts that contain their social security number or address. Various monthly fraud monitoring reports are reviewed by risk management. Potential conflicts are discussed with the vp risk management and facilities, and escalated to the svp hr and organizational development, cfo, and ceo/president as needed.”

Form 990, Part VI, Section B, Line 15

“All positions are classified within salary bands. Each year, all salary bands are reviewed and may be adjusted to reflect job market changes to ensure that positions are classified appropriately. Every two to three years all positions are re-evaluated using multiple external resources in this process. The ceo's compensation is reviewed by the board each year and multiple sources are used.”

Form 990, Part VI, Section C, Line 19

“Governing documents are provided to members upon request. Financial statements are presented in the annual report and available for download from ncua.”

Filing and Contact Details

Filer

Filer Name
Summit Credit Union
EIN
39-0230585
Phone
6082435000
Address
PO BOX 8046, MADISON, WI 53708-8046

Signing Officer

Name
Keith Peterson
Title
CFO
Phone
6082435000
Signed
2020-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kim Sponem
Formed
1935
Legal Domicile
Wi
Voting Board Members
9
Independent Board Members
9
Employees
738
Volunteers
12

Preparer

Firm
Cliftonlarsonallen Llp
Address
109 N MAIN STREET SUITE 200, AUSTIN, MN 55912
Preparer
Tanya Medgaarden
Phone
5074347000
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

“New headquarters and new branches in brookfield, waukesha and middleton”

FORM 990, PART XI, LINE 9:

“Net change in defined benefit obligations -1,474,432. Equity acquired in acquisition 5,926. Rounding 2.”

FORM 990, PART XII, LINE 2C:

“The process has not changed from the prior year.”

Financial Statement Notes

PART IV, LINE 2B:

“The credit union acts as a custodian for amounts in escrow for loans to members.”

PART X, LINE 2:

“The credit union is exempt, under internal revenue code 501(c) (14), from federal and state income taxes. The credit union has filed tax returns in the past for activities it has deemed taxable. The taxing authorities have the ability to assess taxes, penalties and interest for any years for which no tax return was filed. In the opinion of management, any liability resulting from taxing authorities imposing income taxes on the net taxable income from activities potentially deemed to be unrelated to the credit union's exempt purpose is not expected to have a material effect on the credit union's financial position or results of operations. As a result, the credit union evaluated its tax positions and determined no uncertain tax positions exist as of december 31, 2019 and 2018. The credit union's 2016 through subsequent tax years are open for examination by federal and state taxing authorities.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Other non-operating income 17,721.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Loss sale of assets -4,377. Loss sale of oreo -89,531.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Loss on sale of assets 4,377. Loss on sale of oreo 89,531.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Other non-operating income -17,721. Rounding 1.”

Raw XML AppendixShowing 400 of 899 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0A COOPERATIVE, NONPROFIT CORPORATION, INCORPORATED UNDER WISCONSIN STATE LAW TO ENCOURAGE THRIFT AMONG ITS MEMBERS, CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE COST, AND PROVIDE AN OPPORTUNITY FOR ITS MEMBERS TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS.
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IRS990/Form990PartVIISectionAGrp/PersonNm2REBECCA GEROTHANAS
IRS990/Form990PartVIISectionAGrp/PersonNm3NANCY KASTEN
IRS990/Form990PartVIISectionAGrp/PersonNm4CHRISTOPHER SCHELL
IRS990/Form990PartVIISectionAGrp/PersonNm5CHRISTOPHER HEFTER
IRS990/Form990PartVIISectionAGrp/PersonNm6MARK KENNEDY
IRS990/Form990PartVIISectionAGrp/PersonNm7ADAM PELLETTER
IRS990/Form990PartVIISectionAGrp/PersonNm8KELLY ERBACH
IRS990/Form990PartVIISectionAGrp/PersonNm9DONALD LICKEL
IRS990/Form990PartVIISectionAGrp/PersonNm10ERIC MATHIAS
IRS990/Form990PartVIISectionAGrp/PersonNm11DANIEL POLLY
IRS990/Form990PartVIISectionAGrp/PersonNm12STEVE HANSEN
IRS990/Form990PartVIISectionAGrp/PersonNm13JEREMY EPPLER
IRS990/Form990PartVIISectionAGrp/PersonNm14TIMOTHY GREENE
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IRS990/Form990PartVIISectionAGrp/PersonNm16MIKE O'BRIEN
IRS990/Form990PartVIISectionAGrp/PersonNm17MIKE SCHENK
IRS990/Form990PartVIISectionAGrp/PersonNm18MARY TURKE
IRS990/Form990PartVIISectionAGrp/PersonNm19JOHN LITSCHER
IRS990/Form990PartVIISectionAGrp/PersonNm20DENNIS SAUEY
IRS990/Form990PartVIISectionAGrp/PersonNm21BOB LINDNER
IRS990/Form990PartVIISectionAGrp/PersonNm22DAN KAISER
IRS990/Form990PartVIISectionAGrp/PersonNm23STEFANIE NORVAISAS
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt1551370
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt2463927
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt4284365
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt6235915
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt7207704
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt9179300
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt230
IRS990/Form990PartVIISectionAGrp/TitleTxt0CEO/PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt2COO
IRS990/Form990PartVIISectionAGrp/TitleTxt3SVP HR & LOD
IRS990/Form990PartVIISectionAGrp/TitleTxt4CMO
IRS990/Form990PartVIISectionAGrp/TitleTxt5CIO
IRS990/Form990PartVIISectionAGrp/TitleTxt6CLO
IRS990/Form990PartVIISectionAGrp/TitleTxt7MORTGAGE LOAN OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt8VP - BUSINESS TECH SOLUTIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt9VP - MORTGAGE LENDING
IRS990/Form990PartVIISectionAGrp/TitleTxt10VP SALES DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt11AVP - IT
IRS990/Form990PartVIISectionAGrp/TitleTxt12MORTGAGE LOAN OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt13VP RISK MANAGEMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt14MORTGAGE LOAN OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt15VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt18SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/Form990TFiledInd01
IRS990/FormationYr01935
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt0-93908
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt09
IRS990/GrantsToDomesticOrgsGrp/TotalAmt0161893
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/OtherAmt0823873
IRS990/GrossReceiptsAmt0184065779
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
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IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InterestGrp/TotalAmt012705770
IRS990/InvestmentIncomeGrp/ExclusionAmt08453964
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt08450249
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IRS990/InvestmentsProgramRelatedGrp/EOYAmt031087500
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IRS990/LandBldgEquipCostOrOtherBssAmt0169644073
IRS990/LegalDomicileStateCd0WI
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt0917781
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IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0A COOPERATIVE, NONPROFIT CORPORATION, INCORPORATED UNDER WISCONSIN STATE LAW TO ENCOURAGE THRIFT AMONG ITS MEMBERS, CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE COST, AND PROVIDE AN OPPORTUNITY FOR ITS MEMBERS TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS.
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IRS990/MoreThan5000KToOrgInd00
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IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0481578599
IRS990/NetAssetsOrFundBalancesBOYAmt0378295623
IRS990/NetAssetsOrFundBalancesEOYAmt0423834229
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-93908
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-93908
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt03305744
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt02782937
IRS990/OfficeExpensesGrp/TotalAmt018262720
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
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IRS990/OtherAssetsTotalGrp/EOYAmt065084707
IRS990/OtherChangesInNetAssetsAmt0-1468504
IRS990/OtherEmployeeBenefitsGrp/TotalAmt04793294
IRS990/OtherExpensesGrp/Desc0LOAN SERVICING EXPENSE
IRS990/OtherExpensesGrp/Desc1PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc2MISC. OPERATING EXPENSE
IRS990/OtherExpensesGrp/Desc3PROFESSIONAL & OUTSIDE
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IRS990/OtherExpensesGrp/TotalAmt17965000
IRS990/OtherExpensesGrp/TotalAmt21996670
IRS990/OtherExpensesGrp/TotalAmt31522000
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IRS990/OtherLiabilitiesGrp/EOYAmt02738290366
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IRS990/PoliticalCampaignActyInd00
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt03256985
IRS990/PrincipalOfficerNm0KIM SPONEM
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/BusinessCd2522100
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INTEREST
IRS990/ProgramServiceRevenueGrp/Desc1OTHER OPERATING INCOME
IRS990/ProgramServiceRevenueGrp/Desc2FEES & SERVICE CHGS
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt137053927
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt212360394
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0125239554
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt137053927
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt212498176
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt0137782
IRS990/ProgSrvcAccomActy2Grp/Desc0SUMMIT OPERATES BRANCHES IN FOUR HIGH SCHOOLS TO SERVE STUDENTS. WE OFFER ADDITIONAL FINANCIAL EDUCATION SESSIONS IN THE COMMUNITIES WE SERVE.
IRS990/ProgSrvcAccomActy3Grp/Desc0WE SUPPORT NUMEROUS COMMUNITY ORGANIZATIONS, INCLUDING UNITED WAY, GOODMAN COMMUNITY CENTER, URBAN LEAGUE AND NATIONAL CREDIT UNION FOUNDATION.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt011097255
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt0251324
IRS990/PYInvestmentIncomeAmt06286585
IRS990/PYOtherExpensesAmt060590670
IRS990/PYOtherRevenueAmt02540

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,689,604,395
Liabilities
$3,265,770,166
Net assets
$423,834,229
Revenue
$183,147,998
Expenses
$139,446,632
Net income
$43,701,366
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7,458$6,775$683$454$395$58.4
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6,945$6,333$612$345$293$51.1
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$6,225$5,677$548$231$180$51.4
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4,831$4,275$556$219$142$77.4
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$4,326$3,836$490$219$160$59.1
2019Detailed filing. Detailed filing data is available for this year.$3,690$3,266$424$183$139$43.7
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3,224$2,846$378$154$114$39.1
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$2,901$2,561$340$135$97.2$37.8
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2,665$2,361$303$125$90.4$35.0
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2,389$2,118$270$108$79.0$29.0
2014Detailed filing. Detailed filing data is available for this year.$2,076$1,834$242$96.9$72.6$24.3
2013Detailed filing. Detailed filing data is available for this year.$1,956$1,740$216$96.7$69.1$27.6
2012Summary only. Only limited summary data is available for this year.$1,887$1,695$191$106$74.1$31.5
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,736$1,579$157$76.2
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,581$1,444$137$78.3