Civic Intelligence

Community First Credit Union

EIN 39-6264347 • 501(c)14 • Appleton, WI

Profile

Our mission is to be our members' primary financial services provider.

PO Box 1487Appleton, WI 54912

www.communityfirstcu.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

19th percentile

0.89x

Higher debt load relative to assets than 19% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Source year 2022

Liabilities / Revenue

97th percentile

24.17x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Source year 2022

Net Margin

99th percentile

37%

Higher net margin than 99% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

65th percentile

4.7%

Faster asset growth than 65% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Annualized from 2021 to 2022

Revenue Growth

76th percentile

25%

Faster revenue growth than 76% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Annualized from 2021 to 2022

Assets

Up

$6,031,707,524

Up $481,254,334 (+8.7%) from 2023

Liabilities

Up

$5,308,262,145

Up $411,820,967 (+8.4%) from 2023

Net Assets

Up

$723,445,379

Up $69,433,367 (+11%) from 2023

Revenue

Up

$336,004,257

Up $52,339,734 (+18%) from 2023

Expenses

Up

$269,692,868

Up $51,603,275 (+24%) from 2023

Net Income

Up

$66,311,389

Up $736,459 (+1.1%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0B$6.0B$4.0B$2.0B$0Assets 2010: $1,435,886,607Liabilities 2010: $1,306,112,058Net Assets 2010: $129,774,5492010Assets 2011: $1,576,608,302Liabilities 2011: $1,423,299,114Net Assets 2011: $153,309,1882011Assets 2012: $1,763,550,069Liabilities 2012: $1,580,546,945Net Assets 2012: $183,003,1242012Assets 2013: $2,014,304,454Liabilities 2013: $1,799,527,758Net Assets 2013: $214,776,6962013Assets 2014: $2,074,938,633Liabilities 2014: $1,826,251,822Net Assets 2014: $248,686,8112014Assets 2015: $2,344,908,185Liabilities 2015: $2,061,262,773Net Assets 2015: $283,645,4122015Assets 2016: $2,619,103,646Liabilities 2016: $2,298,413,566Net Assets 2016: $320,690,0802016Assets 2017: $2,827,032,345Liabilities 2017: $2,462,741,344Net Assets 2017: $364,291,0012017Assets 2018: $3,117,431,248Liabilities 2018: $2,712,585,806Net Assets 2018: $404,845,4422018Assets 2019: $3,412,730,212Liabilities 2019: $2,974,301,208Net Assets 2019: $438,429,0042019Assets 2020: $4,233,572,171Liabilities 2020: $3,759,453,833Net Assets 2020: $474,118,3382020Assets 2021: $4,925,306,167Liabilities 2021: $4,396,545,649Net Assets 2021: $528,760,5182021Assets 2022: $5,156,851,836Liabilities 2022: $4,569,773,622Net Assets 2022: $587,078,2142022Assets 2023: $5,550,453,190Liabilities 2023: $4,896,441,178Net Assets 2023: $654,012,0122023Assets 2024: $6,031,707,524Liabilities 2024: $5,308,262,145Net Assets 2024: $723,445,3792024

Highlighted filing

2024

Assets$6,031,707,524
Liabilities$5,308,262,145
Net Assets$723,445,379

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$400M$300M$200M$100M$0Expenses 2010: $56,529,5622010Expenses 2011: $53,644,9592011Expenses 2012: $52,308,6512012Revenue 2013: $80,398,408Expenses 2013: $51,026,829Net Income 2013: $29,371,5792013Revenue 2014: $85,279,794Expenses 2014: $51,448,708Net Income 2014: $33,831,0862014Revenue 2015: $94,925,620Expenses 2015: $56,869,777Net Income 2015: $38,055,8432015Revenue 2016: $102,552,266Expenses 2016: $64,180,736Net Income 2016: $38,371,5302016Revenue 2017: $113,188,838Expenses 2017: $70,179,100Net Income 2017: $43,009,7382017Revenue 2018: $126,012,945Expenses 2018: $84,934,074Net Income 2018: $41,078,8712018Revenue 2019: $141,751,455Expenses 2019: $102,929,505Net Income 2019: $38,821,9502019Revenue 2020: $145,139,477Expenses 2020: $108,011,225Net Income 2020: $37,128,2522020Revenue 2021: $150,657,635Expenses 2021: $96,657,185Net Income 2021: $54,000,4502021Revenue 2022: $189,052,954Expenses 2022: $118,578,205Net Income 2022: $70,474,7492022Revenue 2023: $283,664,523Expenses 2023: $218,089,593Net Income 2023: $65,574,9302023Revenue 2024: $336,004,257Expenses 2024: $269,692,868Net Income 2024: $66,311,3892024

Highlighted filing

2024

Revenue$336,004,257
Expenses$269,692,868
Net Income$66,311,389

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6,032$5,308$723$336$270$66.3
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5,550$4,896$654$284$218$65.6
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$5,157$4,570$587$189$119$70.5
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4,925$4,397$529$151$96.7$54.0
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4,234$3,759$474$145$108$37.1
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3,413$2,974$438$142$103$38.8
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$3,117$2,713$405$126$84.9$41.1
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2,827$2,463$364$113$70.2$43.0
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2,619$2,298$321$103$64.2$38.4
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2,345$2,061$284$94.9$56.9$38.1
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2,075$1,826$249$85.3$51.4$33.8
2013Detailed filing. Detailed filing data is available for this year.$2,014$1,800$215$80.4$51.0$29.4
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,764$1,581$183$52.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,577$1,423$153$53.6
2010XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,436$1,306$130$56.5
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$189,210,527
Mission and Program Overview

Mission

Our mission is to be our members' primary financial services provider.

Our mission is to be our members' primary financial services provider

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$3,120,087,692$3,543,648,794▲ $423,561,102
Investments Program Related$1,596,171,947$1,400,083,673▼ $196,088,274
Rtn Earn Endowment Incm Other Fnds$528,760,518$587,078,214▲ $58,317,696
Land, Buildings, and Equipment, Net$69,272,277$66,257,076▼ $3,015,201
Prepaid Expenses and Deferred Charges$66,279,630$54,506,009▼ $11,773,621
Cash and Non-Interest-Bearing Accounts$19,416,600$33,350,918▲ $13,934,318
Accounts Receivable$68,719$96,215▲ $27,496
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$4,925,306,167$5,156,851,836▲ $231,545,669
Other Assets Total$54,009,302$58,909,151▲ $4,899,849
Liabilities
Other Liabilities$4,354,339,181$4,522,340,659▲ $168,001,478
Accounts Payable and Accrued Expenses$37,206,468$47,432,963▲ $10,226,495
Mortgage Notes Payable Secured by Investment Property$5,000,000--
Total Liabilities$4,396,545,649$4,569,773,622▲ $173,227,973
Net Assets / Fund Balance
Total Net Assets Fund Balance$528,760,518$587,078,214▲ $58,317,696
Total Liabilities and Net Assets / Fund Balance$4,925,306,167$5,156,851,836▲ $231,545,669

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$44,611,439$17,569,810$62,181,249
Equipment$6,569,729$21,053,352$27,623,081
Land$14,685,749-$14,685,749
Leasehold Improvements$210,586$423,363$633,949
Other Land Buildings$179,573-$179,573
Investment Program Related Org$1,400,083,673--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Catherine J TierneyCEO/president/bod TreasurerFT$727,963$325,030$1,052,993
Mary J SullivanSVP Special ProjectsFT$252,112$247,173$499,285
Scott SteinfortChief Technology OfficerFT$292,673$201,039$493,712
Amanda SecorChief of StaffFT$239,959$243,222$483,181
Timothy HoffChief Lending OfficerFT$287,544$183,483$471,027
Jake BumanFinancial AdvisorFT$432,091$31,007$463,098
Kristy HesseChief Human Resources OffiFT$254,135$108,074$362,209
Mary LornsonSVP LendingFT$198,901$131,008$329,909
Andrew HullSVP of ItFT$199,776$119,028$318,804
Sherri JablonickySVP of Branch OperationsFT$186,637$123,911$310,548
Jessica BrownChief Financial OfficerFT$94,016$179,603$273,619
Heather VoigtChief Operations OfficerFT$68,443$100,833$169,276
Charles BostickChief Financial OfficerFT$73,356$3,005$76,361

Board Members and Trustees

NameTitle
Kathryn SiemanChairperson
Sara MichelettiVice Chair
Amy Fricke-weigelBoard Member
Daniel FerrisBoard Member
Dr Susan MayBoard Member
Jay FulkersonBoard Member
Michael MooreBoard Member
Paul SchwartzBoard Member
Peter MariahazyBoard Member
Monica HiltSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Burton Karstedt INCAdvertising2336 HIGHPOINT DR, Lindenhurst, IL 60046$2,044,111
FiservData ProcessingPO BOX 934057, Atlanta, GA 31193$1,703,576
Lumin DigitalOnling Banking Service560 CARILLON PARKWAY, St Petersburg, FL 33716$1,247,652
Heartland Business Systems INCData Processing1700 STEPHEN ST, Little Chute, WI 54140$381,176
Jks Of Wisconsin INC Dba ServicemasterCleaning Service2522 FISH HATCHERY RD STE 100, Madison, WI 53713$335,564
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$154,743,871
Investment Income
$32,625,862
Other Revenue
$1,683,221
Change in Net Assets
$70,474,749
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$42,905,483
Salaries, Compensation, and Employee Benefits$41,674,613
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$33,998,109
Other Salaries and Wages---$32,393,794
Office Expenses---$11,790,170
Interest---$7,431,430
Advertising---$4,625,089
Depreciation Depletion---$4,162,185
Other Employee Benefits---$3,496,159
Current Officers, Directors, Trustees, and Key Employees---$3,382,378
Occupancy---$2,717,803
Information Technology---$2,687,023
Payroll Taxes---$2,402,282
Conferences and Meetings---$467,869
Fees for Services Accounting---$454,135
Insurance---$423,556
Travel---$343,362
Other Expenses---$261,076
Fees for Services Legal---$120,657
Total Functional Expenses$0$0$0$118,578,205
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Accounts$4,473,196,659
Nonmember Deposits$49,144,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
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

Members of the credit union.

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

Each member owner has one vote to elect one or more directors of the governing body.

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

Each member has one vote to utilize in ratifying significant decisions beyond the authority of the board as outlined by the organization's bylaws. Any decision to dissolve or merge the organization requires approval of membership, unless mandated by regulatory agency (i.e. Ncua, wisconsin office of credit unions).

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

The form 990 is reviewed by ceo and presented to the board of directors.

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

Board of directors completes a conflict of interest questionnaire annually.

Form 990, Part VI, Section B, Line 15

The compensation committee used an outside compensation consultant for ceo and key employee compensation. The compensation consultant works directly with the compensation committee of the board of directors. This process was last conducted in 2021.

Form 990, Part VI, Section C, Line 19

Financial statements are reviewed by the board of directors monthly and an annual report is available to membership each year.

Filing and Contact Details

Filer

Filer Name
Community First Credit Union
EIN
39-6264347
Phone
9208307200
Address
PO BOX 1487, APPLETON, WI 54912

Signing Officer

Name
Catherine J Tierney
Title
CEO/president
Phone
9208307200
Signed
2023-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Catherine J Tierney
Formed
1975
Legal Domicile
Wi
Voting Board Members
11
Independent Board Members
10
Employees
704
Volunteers
11

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 XI, LINE 9:

Other comprehensive income -12,157,053.

FORM 990, PART XII, LINE 2B:

Audited financial statements: the organization has an audit performed each year as of september 30th. This question is being answered 'no' only because the reporting period for the annual audit does not match the december 31st reporting period for the form 990.

FORM 990, PART XII, LINE 2C:

A financial audit is performed annually along with internal audits which are performed throughout the year. The audit plan and actual audit reports are reviewed with the audit committee of the board of directors.

Financial Statement Notes

PART X, LINE 2:

The credit union is exempt, under internal revenue code (irc) 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 consolidated financial position or results of operations. The credit union evaluated its tax positions and determined no uncertain tax positions exist as of september 30, 2022 and 2021. The credit union's 2019 through 2021 tax years are open for examination by federal and state taxing authorities.

Raw XML AppendixShowing 400 of 776 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.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt037206468
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt047432963
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IRS990/AccountsReceivableGrp/EOYAmt096215
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0OUR MISSION IS TO BE OUR MEMBERS' PRIMARY FINANCIAL SERVICES PROVIDER
IRS990/AdvertisingGrp/TotalAmt04625089
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IRS990/BenefitsToMembersGrp/TotalAmt033998109
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IRS990/BooksInCareOfDetail/PhoneNum09208307200
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt01575 DRESANG WAY
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IRS990/Desc0PROVIDED FINANCIAL SERVICES TO 152,852 MEMBER OWNERS IN 2022. FUNDED 33,712 LOANS TO THESE MEMBERS IN 2022 FOR $1,455,118,608.
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IRS990/Form990PartVIISectionAGrp/PersonNm2SARA MICHELETTI
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IRS990/Form990PartVIISectionAGrp/PersonNm4JAY FULKERSON
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IRS990/Form990PartVIISectionAGrp/PersonNm7PETER MARIAHAZY
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IRS990/Form990PartVIISectionAGrp/PersonNm9AMY FRICKE-WEIGEL
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IRS990/Form990PartVIISectionAGrp/PersonNm12AMANDA SECOR
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IRS990/Form990PartVIISectionAGrp/PersonNm18MARY J SULLIVAN
IRS990/Form990PartVIISectionAGrp/PersonNm19JAKE BUMAN
IRS990/Form990PartVIISectionAGrp/PersonNm20MARY LORNSON
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IRS990/Form990PartVIISectionAGrp/TitleTxt14CHIEF HUMAN RESOURCES OFFI
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IRS990/Form990PartVIISectionAGrp/TitleTxt16CHIEF OPERATIONS OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt17CHIEF FINANCIAL OFFICER
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IRS990/Form990PartVIISectionAGrp/TitleTxt19FINANCIAL ADVISOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20SVP LENDING
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IRS990/MissionDesc0COMMUNITY FIRST CREDIT UNION WILL PROVIDE HIGH QUALITY, COMPETITIVE FINANCIAL PRODUCTS AND SERVICES WHICH ANTICIPATE AND EXCEED OUR MEMBERS' NEEDS. WE INTEND TO BE THE PRIMARY FINANCIAL ORGANIZATION FOR OUR MEMBERS BY EARNING AND MAINTAINING THEIR TRUST, BY MAINTAINING A BALANCE BETWEEN SOUND GROWTH, EARNINGS AND RESERVES, BY PROVIDING A CHALLENGING AND REWARDING ENVIRONMENT FOR OUR EMPLOYEES AND BY CONTRIBUTING TO THE SOCIAL AND ECONOMIC WELL-BEING OF THE COMMUNITIES WE SERVE.
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