For more than 75 years Fox Communities Credit Union has been serving the needs of our members and supporting our communities. As we have grown, so has our commitment to our members, the owners of the Credit Union. This is at the heart of what a credit union is…what makes us different…member ownership. As a member-owner you have a vote to elect the volunteer Board of Directors. Every board decision made is in the best interests of the members from services to policies to locations. Fox Communities Credit Union is a not–for–profit organization meaning we can offer lower loan rates and higher deposit rates so the benefits come back to the member, not stockholders. When members bring their business to us, they are really helping their neighbors and community. By making the credit union stronger, we can continue to grow and help others. Greg Hilbert, President of Fox Communities Credit Union, states, “We are proud to be a credit union where we work hard every day for our members. Our whole purpose, our mission, is to advance the financial success of our members with the services that fit their individualized needs.” 2013 was another very strong year, at the credit union, due to record low mortgage rates and the additional confidence that consumers and business owners had in the economy. Our loans grew by 9%, savings by almost 5% and membership increased to 70,487. Fred VanHandel, Board Chair, comments, “The Board of Director’s responsibility is to look out for our members in every decision we make. We analyze all options before moving forward on any project. When adding new locations
many items are up for review with the most important being…what works best for our current members and potential new members.” An area of focus in 2013 was the Green Bay market: • In March of 2013, we moved our staff from the existing Howard location, on Lineville Road, to the new one on 2525 Lineville Road. We were able to provide a more accessible drive-thru, a convenient drive up ATM and expanded parking. The lobby was designed so that staff can easily interact with our members, allowing for more personalized service. • A groundbreaking was held on September 18, 2013, for our new Military Avenue office in Green Bay. With the recent Military Avenue revitalization project, it felt like the perfect fit enue 411 S. Military Av to serve our existing and potential new members. After much consideration and discussion, it was determined that this Military location was more centrally located for our members on the west side and for the majority of our Clinton Street members. The decision was made to relocate the Clinton Street branch and staff to this new location. We opened for business on Monday, March 17, 2014. This is our fifth office in the Green Bay market. • On December 31, 2013, we partnered with the Green Bay Correctional Institute Credit Union. Benefits for the members included more branch locations, fee free ATMs, better loan and deposit rates, along with additional products and services. We were honored and excited for this partnership!
We sponsored many community events throughout the year which included, Autism Awareness Night, The Big Read, Bowl for Kids Sake, Financial Makeover Challenge and Money Smart Week. The credit union and our members supported numerous collection efforts as we sold candy bars for Children’s Hospital of Wisconsin, asked members to drop off canned goods for Stock the Shelves, collected children’s items for Toys for Tots and continued to be a main sponsor for the annual Coats for Kids campaign. Educating our members on a variety of topics continues to expand at the credit union. In 2013, we held seminars ranging from “Wills and Trusts” to “Identity Theft Protection” to “Who Gets Grandma’s Yellow Pie Plate” which dealt with making a plan early on, for who gets what item, to avoid any conflict after the family member is gone. New products and services developed in 2013: • Our free mobile app was rolled out in early 2013. Members can now access their accounts, transfer funds, view rates and so much more with their smart phone. Over 13,000 members are already enjoying this added convenience. • The business credit card was enhanced so our business members can now have multiple authorized users. Business owners can distribute cards with different credit lines to their employees in order to track individual expenses.
• An optional savings program called Save Up! was introduced to our members. It is designed to help members save money every time they use their debit card. Once enrolled, every transaction will be rounded up to the nearest dollar. At the end of the day, those funds will be transferred into a designated account of the member’s choice. As we saw a close to 2013, we supported the national campaign “Take Action Now. Don’t Tax My Credit Union.” This was dedicated to ensuring Congress doesn’t raise taxes on 96 million credit union members nationwide and preserves the financial choice for American consumers. Congress was considering taxing credit unions which in reality would be taxing credit union members, as this would result in a loss of our dollars going back to members. Many credit unions rallied around this initiative to assure we can continue to provide cost-effective financial services. By working together to make our communities better, we are also making our credit union stronger. The Board of Directors and staff work hard every day to provide the financial institution that you deserve. We are owned by our members - The Credit Union Difference - giving us the opportunity to help each other every day!
Thank you for your continued confidence in Fox Communities Credit Union. We are looking forward to a great 2014!
Statement of Financial Condition Assets Cash and Cash Items Investments Vehicle Loans Real Estate & Home Equity Loans Business Loans All Other Loans Allowance for Loan Losses Fixes Assets Other Assets Total Assets Liabilities & Member Equity Savings & Club Accounts Checking Accounts Money Market/Investment Share Accounts Certificates of Deposit Individual Retirement Accounts Borrowings Other Liabilities Total New Worth Reserves Total Liabilities & Member Equity
2013
2012
$ $ $ $ $ $ $ $ $ $
23,302,299 155,568,514 98,377,889 423,648,866 191,244,157 34,873,567 (6,353,413) 15,996,399 17,860,153 954,518,431
$ $ $ $ $ $ $ $ $ $
36,206,511 148,996,310 82,644,150 397,859,143 176,842,223 28,629,160 (6,736,280) 15,079,918 15,866,029 895,387,164
$ $ $ $ $ $ $ $
180,380,852 109,848,549 188,133,695 172,192,819 59,568,312 132,835,678 9,127,324 102,431,202 954,518,431
$ $ $ $ $ $ $ $ $
160,315,553 105,351,918 175,132,046 179,090,075 57,589,955 120,032,228 5,159,431 92,715,958 895,387,164
$ $ $
$
31,182,020 1,826,549 10,579,624 43,588,193
$
31,678,441 1,612,235 9,986,094 43,276,770
$ $ $ $ $ $ $ $ $ $
13,229,389 3,282,029 1,429,659 366,074 543,953 7,529,592 3,489,832 3,693,078 33,563,606 10,024,587
$ $ $ $ $ $ $ $ $ $
12,236,660 4,239,962 1,503,526 670,971 593,274 5,589,614 4,473,615 4,371,858 33,679,480 9,597,290
$
Statement of Operation Income Interest on Loans Investments Other Income Total Gross Income
Expenses Salaries & Benefits Office Occupancy & Operations Education & Promotion Provision for Loan and Lease Losses NCUA Insurance Outside Services & Other Operating Cost of Borrowing Dividends Paid to Members Total Expenses BALANCE TO RESERVES
$ $ $
Board of Directors Fred VanHandel - Chair of the Board Paul Sippl - Vice Chair Joanne Bogenschutz - Secretary / Treasurer David Carney - Director Sharon Gunderson - Director Douglas Schley - Director Rich Scott - Director Alan Timmerman - Director Mary Zito - Director Our Mission We at Fox Communities Credit Union have a commitment to enrich the quality of life for our members through personalized financial services. The Credit Union is dedicated to the protection of our members’ financial well-being and to operate in an economically sound manner. The Credit Union will provide an atmosphere of professionalism, friendliness, and mutual trust. We shall remain strong in the communities through our support and involvement.
www.foxcu.org Federally Insured by NCUA
15 convenient locations from Green Bay to Oshkosh!
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Appleton (920) 993-9000 3401 E. Calumet Street 610 E. Wisconsin Avenue 1724 S. Lawe Street 2531 Highway Drive (OO & A) St .
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Kimberly 29 (920) 993-9000 We ste Sha rn A ve. 528 S. Washington Street wano Ave. 41
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54
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.M a so Neenah nS t. th S (920) 9993-9000 t. 1151 Westowne Drive (Hwy 41 & S.Winneconne Avenue) Military & Western Location
Green Bay Area (920) 490-2900 2170 S. Ashland Avenue 1313 Main Street 411 S. Military Avenue 515 Redbird Circle • De Pere 2525 Lineville Road • Howard Black Creek (920) 984-4200 502 S. Main Street Clintonville (715) 823-2191 3 N. Main Street New London (920) 982-9420 1302 N. Shawano Street Winnebago/Oshkosh Office (920) 233-2890 Winnebago Mental Health Institute Grounds
Green Bay
Howard