WESTCONSIN CREDIT UNION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1938

Legal Domicile

Principal Officer

JIM WOOKEY

Phone

7152353403

Tax Period

2024-01-01 to 2024-12-31

WESTCONSIN CREDIT UNION, founded in 1938, is a major nonprofit that reported $115.6M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $102.6M left a modest 11% surplus.

Mission

THE ORGANIZATION IS 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.

Program Service Accomplishments

Program 1

WESTCONSIN CREDIT UNION, LIKE ALL CREDIT UNIONS, IS EXEMPT FROM FEDERAL AND MOST STATE TAXES BECAUSE WE ARE A MEMBER-OWNED, NOT FOR PROFIT ORGANIZATION. IN TURN, WE REINVEST INTO OUR ORGANIZATION AND COMMUNITIES. WE ENCOURAGE OUR LEADERS AND EMPLOYEES TO GET INVOLVED IN COMMUNITY CHARITABLE ACTIVITIES AND WORTHWHILE CAUSES, VOLUNTEERING 4,263 HOURS IN 2024. THROUGH PROVIDING FREE FINANCIAL PROGRAMS AND SERVICES TO PROMOTE FINANCIAL EDUCATION AND LITERACY, WESTCONSIN EDUCATED OVER 71,527 STUDENTS IN OVER 212 AREA SCHOOLS. IN 2024, WESTCONSIN PROVIDED LOW-COST FINANCIAL SERVICES TO 124,158 MEMBERS.

Program 2

SERVED MEMBERS' INTERESTS BY ACCEPTING DEPOSITS, GRANTING LOANS, AND INVESTING EXCESS FUNDS IN A PRUDENT MANNER.

Program 3

PROVIDED OVER 16,000 LOANS FOR OVER $464 MILLION TO MEMBERS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $102,342,497

Investment Income $10,475,544

Other Revenue $2,747,765

TOTAL REVENUE $115,565,806

Expense Breakdown

Grants Paid $115,012

Salaries & Benefits $43,828,151

Fundraising Expenses $0

Other Expenses $33,417,048

TOTAL EXPENSES $102,612,881

Year-over-Year Comparison

	2024	2023	Change
Revenue	$115,565,806	$106,439,696	+0.1%
Expenses	$102,612,881	$90,131,847	+0.1%
Net Income	$12,952,925	$16,307,849	-0.2%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

507

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$3,305,389

Total Directors

$68,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KAREN FLUG	TREASURER	5.00	Officer Director	$9,700	$0	$9,700
COLLEEN MENSING	SECRETARY	5.00	Officer Director	$9,700	$0	$9,700
DALE DAHLKE	BOARD MEMBER	5.00	Director	$9,700	$0	$9,700
TODD LEIPNITZ	VICE CHAIRPERSON	5.00	Director	$9,700	$0	$9,700
SARAH NOREEN	BOARD MEMBER	5.00	Director	$9,700	$0	$9,700
GERALD WOLF	CHAIRPERSON	5.00	Director	$9,700	$0	$9,700
JESSE SINGERHOUSE	BOARD MEMBER	5.00	Director	$8,100	$0	$8,100
MARK DAHMS	BOARD MEMBER (THRU 03/24)	5.00	Director	$1,700	$0	$1,700
LORA BENRUD	CEO (THRU 09/24)	40.00	Officer	$703,889	$73,100	$776,989
JIM WOOKEY	CEO	40.00	Officer	$453,148	$83,040	$536,188
JERILYN KINDERMAN	CFO	40.00	Officer	$320,227	$75,116	$395,343
SCOTT GILTNER	CLO	40.00	Officer	$292,942	$72,571	$365,513
KEVIN HALL	CIO	40.00	Officer	$249,438	$50,906	$300,344
NICOLE YARRINGTON	CTO	40.00	Officer	$247,457	$65,657	$313,114
RUSS BLASIUS	COO	40.00	Officer	$238,909	$64,379	$303,288
STEPHANIE RASMUSSEN	CXO	40.00	Officer	$233,064	$62,146	$295,210
JAMES WYNN	VP-BUSINESS LOANS AND SERVICES	40.00	Highest	$229,793	$61,089	$290,882
ALEXANDER BURIAN	VP-WESTCONSIN INVESTMENT	40.00	Highest	$190,647	$49,855	$240,502
KYLE ZIMMER	VP-MORTGAGE	40.00	Highest	$181,175	$30,933	$212,108
JAYSON AMPIG	VP-INFORMATION TECHNOLOGY	40.00	Highest	$181,599	$37,857	$219,456
MELISSA KRAEMER	SR. BUSINESS LOAN OFFICER	40.00	Highest	$178,627	$32,084	$210,711

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$115,565,806	$102,612,881	$1,957,979,183	$12,952,925
2023	$106,439,696	$90,131,847	$1,938,899,963	$16,307,849
2022	$88,742,887	$75,094,217	$1,937,869,169	$13,648,670
2021	$93,240,382	$72,841,773	$1,929,229,714	$20,398,609
2020	$92,608,076	$73,936,724	$1,643,149,060	$18,671,352
2019	$83,150,893	$71,209,997	$1,336,372,119	$11,940,896
2018	$74,668,162	$61,300,997	$1,238,550,631	$13,367,165