2019
Annual Report
FOX - We are here for you! We are Fox Communities Credit Union. We are the members, the staff, the Board of Directors and the communities we serve. We are here for you. Why is this important? Because this is why we started back in 1937. Three mill workers, at the Combined Locks Mill, pooling their monies together so that they could ‘Make Life Happen’ for the people they worked with every day. We have never forgotten the importance of ‘People Helping People’ and in 2019, we were voted the Best of the Valley and Best of the Bay in the financial institution category. We have evolved to serve more members since our early beginnings in Combined Locks. Last year we expanded our charter with five new counties in the southern part of Wisconsin, bringing the total to 17 counties. Our Manitowoc location was relocated to increase our convenience and branch capabilities. The Pulaski office was built and is now open for all current and potential new members. Supporting our communities through events, sponsorships and drives continues to be a main focus for us. We expanded our commitment level with Mile of Music in 2019 to the highest level of Presenting sponsor. This event brings many to the area to celebrate original artists and support local communities. The music festival goes hand in hand with our Bike to the Beat, as the ride has six stops complete with original artists from Mile of Music. The ride has always run through the Green Bay area, but in 2019 we added St. Norbert’s College in De Pere as a start and stop bringing this ride closer to home for the Green Bay residents. We had over 3,600 riders and all the biker participant fees went to the Fox Cares Foundation which supports the arts, hunger and homelessness. Last year, over $56,000 was raised. Thank you!
Greg Hilbert, President and CEO, states, “It has been my privilege and honor to be a part of Fox for 40 years. At the core of our credit union are the members, just as it was in 1937. We started as Combined Locks Credit Union and grew to $1 million in assets by 1974 and then expanded to serve all the residents of the area, becoming Fox Communities Credit Union in 1987. Now serving over 104,000 members, having $1.8 billion in assets, employing over 420 dedicated team members and supporting 22 locations, we continue to be a strong member owned financial institution. Fox prioritizes people over profits and will continue its commitment to remain a vital part of the communities we serve, through our support and involvement. It’s who we are and we are here for you.” With the guidance of the Board, we are a financially strong credit union. This strength was critical as we embarked on updating our technology, during 2019, so we could continue to be well positioned for the future. Bill Panella, Board Chair, adds, “2019 saw the implementation of 26 new systems both internal and member facing. For some members it was challenging and we offer our sincere apologies for any disruption this may have caused. The credit union continues to work through these every day for resolutions. I want to thank our staff and members for putting their faith and confidence in Fox.” “On behalf of our Board, staff and members,” Bill Panella continues, “I thank Greg Hilbert for 40 years of dedicated, outstanding service. Greg grew our credit union from $3 million in assets and three employees, at the Combined Locks Credit Union, to where we are today. Together we say, ‘All our best to you Greg and Cindy Hilbert. A well-deserved retirement is ahead of you both. You will be missed.’ The credit union will continue with strong leadership as Chris Allen was named the next CEO and has a committed Board and team supporting him.” www.foxcu.org
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Statement of Financial Condition Cash & Cash Items Investments Vehicle Loans Real Estate & Home Equity Loans Business Loans All Other Loans Allowance for Loan Losses Fixed Assets Receivables & Other Assets Total Assets LIABILITIES & MEMBER EQUITY
Savings & Club Accounts Checking Accounts Money Market/Investment Share Accounts Certificates of Deposit Individual Retirement Accounts Borrowings Payables & Other Liabilities Net Worth Reserves Total Liabilities & Member Equity
$ $ $ $ $ $ $ $ $
2018
66,393,469 118,806,425 249,586,463 726,321,194 398,123,382 69,419,804 (4,303,685) 22,369,869 27,066,025
2019 $ $ $ $ $ $ $ $ $
34,896,747 207,722,461 249,949,504 778,237,575 416,823,407 75,407,773 (4,790,227) 24,945,111 51,701,708
$ 1,673,782,946
$ 1,834,894,059
$ $ $ $ $ $ $ $
$ $ $ $ $ $ $ $
408,189,362 229,411,856 272,849,366 242,468,319 72,268,182 237,046,190 20,088,783 191,460,888
$ 1,673,782,946
442,397,403 250,309,333 284,370,013 318,147,697 85,519,894 214,613,835 29,161,762 210,374,122
Interest on Loans Investments Other Revenue Total Gross Revenue EXPENSES
Salaries & Benefits Office Occupancy & Operations Education & Promotion Provision for Loan & Lease Losses Outside Services & Other Operating Cost of Borrowings Dividends Paid to Members Total Expenses BALANCE TO RESERVES www.foxcu.org
$2,000 $1,800 $1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 $0 2016
2017
2018
2019
ASSET GROWTH _____________________________________ 2019 $1,834,894,059 2018 $1,673,782,946 2017 $1,523,413,002 2016 $1,260,749,733
$ 1,834,894,059
Statement of Operation REVENUE
ASSETS Millions
ASSETS
$ $ $
53,950,894 3,571,345 17,002,187
$ $ $
61,951,667 5,813,305 16,458,280
$
74,524,426
$
84,223,252
$ $ $ $ $ $ $
22,458,657 7,561,838 2,159,084 1,152,664 9,259,110 4,390,745 6,952,439
$ $ $ $ $ $ $
25,258,034 9,461,021 2,549,024 1,582,474 11,696,929 4,923,711 11,846,800
$
53,934,537
$
67,317,993
$
20,589,889
$
16,905,259
LOAN GROWTH _____________________________________ 2019 $1,520,418,259 2018 $1,443,450,843 2017 $1,326,189,609 2016 $1,111,106,852
DEPOSIT GROWTH _____________________________________ $1,380,744,340 2019 2018 $1,225,187,085 2017 $1,120,208,353 2016 $ 922,637,978
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By-the-Numbers: A Year in Review WINNER OF
Serving over
2 BEST CREDIT
104,000
UNION AWARDS
MEMBERS
Thank you for your votes
22 BRANCHES & 3 IN SCHOOLS
26 CERTIFIED
CREDIT UNION FINANCIAL COUNSELORS ON STAFF Help motivate, engage, and educate members to take positive financial actions
GREEN BAY ETHICS IN BUSINESS AWARD WINNER
JIM SMITH AWARD
BRANCH MOVE MANITOWOC staff & Mayor Nickels
PRESENTED BY FOUNDATIONS HEALTH & WHOLENESS Celebrated as an ethical business leader within Charitable Support the community
28
www.foxcu.org
MANITOWOC COUNTY CHAMBER Nominated for our growth, success, innovation, and contribution to the community
700+ PEOPLE
ATTENDED THE FOX SPONSORED BLACK CREEK FAMILY DAZE EVENT Featuring a parade, live music, car show, kids activities & more
NUMBER OF FREE SEMINARS OFFERED TO MEMBERS & PUBLIC These financial seminars reached over 630 attendees!
#82
FOX’S FACEBOOK RANKED out of 2,000 BANKS & CREDIT UNIONS Source: The Financial Brand; social media stats of retail financials in English speaking countries
$12,000
IN FOX SCHOLARSHIPS Awarded to high school students by Fox through the year
APPLETON NORTHSIDE BUSINESS ASSOCIATION Recognized as the winner for our commitment to the local community through volunteer and charitable contributions
LARGE BUSINESS OF THE YEAR NOMINEE
SYSTEM UPDATES
26
NEW BRANCH IN PULASKI - staff
internal & member facing systems were updated to keep up with current technology and provide the ability for future enhancements
1,000s
gathered at the LAKESHORE BALLOON GLOW for free fun
5 0 0 +
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LEVITT AMP GREEN BAY MUSIC SERIES PRESENTED BY FOX Brought together over
20,000 PEOPLE
for fun, food, and music
PULASKI POLKA DAYS MUSIC FESTIVAL Fox supported The Family’s HELP FOR THE HOMELESS drive by collecting hygiene items valued at over
$6,800
22+ POLKA BANDS
Played in front of thousands of world-wide visitors... who couldn’t help but dance A FOX SPONSORED EVENT
MILE OF MUSIC
900 + SHOWS Appleton’s free annual 4-day music festival PRESENTED BY FOX
CLINTONVILLE FIREMEN’S FESTIVAL SUPPORTED BY FOX
5 CITY SIGNS
FUNDED BY FOX Line the streets of Appleton to help spread the word of Appleton’s support for music and original artists... “I hear singing when I turn down our road” CHARITIES, CAUSES AND SPECIAL EVENTS WE SUPPORTED Giving back is at the core of the Fox culture, we want to be a part of their mission and success
www.foxcu.org
CELEBRATED 40 YEARS with hundreds of attendees enjoying a fish fry, tractor pulls, parade and music
250+ CUPS
OF HOT COCOA FROM FOX were sipped at the Neenah Washington Park Winter Festival
APPLETON/DE PERE START & FINISH
3,612 BICYCLISTS $56,000+ RAISED
All funds from registration were gifted to the Fox Cares Foundation... Making Community Impact Happen
2,061 HOURS OUR STAFF VOLUNTEERED
AT FOX SPONSORED EVENTS Volunteering is what being a Fox employee is, it defines us... Making a positive difference in people’s lives!
$37,600+ GIFTED TO LOCAL NONPROFITS
Whose mission is to help end homelessness, fight hunger, & provide access to the arts www.foxcares.org
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Executive Team Greg Hilbert President/CEO 1980 - 2020
Board of Directors Chris Allen President/CEO Successor as of April, 30 2020
Terri Green • VP Human Resources Cathy Harvath • VP Marketing Kory Kitowski • Chief Information Officer Bruce Kotarek • Chief Financial Officer Nancy Krahn • VP Branch Operations/Member Services Adam Landsverk • Chief Lending Officer Mitchell Musial • General Counsel Dave Thone • VP Internal Operations
Responsible for the general oversight and final decision-making authority over the affairs, funds and records of Fox; ensuring the credit union is operated in a sound and prudent manner and that all decisions are guided by the best interests of the members. Bill Panella Chair Rasmussen College
Rich Scott Vice Chair Retired: Kerber Rose & Assoc.
Joanne Bogenschutz Secretary/Treasurer Retired: Albany International
Martin Docter Director U.S. Venture, Inc.
Krista Draheim Director Thrivent Financial
Jessica Fleek Director Habitat for Humanity
James Richardson Director Kimberly-Clark
Paul Sippl Director Retired: U.S. Venture, Inc.
Management Team Patrick Josephson • VP Retail Lending Service/Sales Jason Behling • AVP Retail Lending Operations Donna Habert • AVP Audit/Compliance Bryant Kazik • AVP Business Services Deb Konitzer • AVP Member Payment Systems Amy Schindler • AVP Finance Michele Stumpf • AVP Branch Operations Neil Pfaff • Controller Kathy Fandrey • Director of Human Resources Kate Nelson • Director of Loan Servicing Joedy Thompson • Director of Marketing Analytics/Strategy Becky Thorn • Director of Branch Operations Laura Waters • Director of Call Center Operations Lindsay Beyer • Online Project Manager Rick Dennis • Consumer Lending Operations Manager Bob Hein • Member Solutions Manager Heidi Kiecker • Bank Secrecy Act Manager Renee Minlschmidt • Senior Branch Manager Megan Nagel • Training Manager Cal Radue • Records Manager Lisa Samorske • Payments Manager Cheryl Smith • Card Services Manager Joy Snyder • Information Technology Risk Manager Kelly Steffen • Quality Control Manager Rebecca Uitenbroek • Call Center Manager Deb VanDenBerg • Vendor Relationship Manager Heather Wessley • Community Engagement Manager www.foxcu.org
Al Timmerman Director Jet Air Group
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Branch Manager Team FOX CITIES & SURROUNDING AREA
Karen Dietzen • Calumet Street Tara Birling • Northland Avenue Amanda Zeinert • Lawe Street Rick Schuh • Wisconsin Avenue Lisa Hanna • Kimberly John Hessenthaler • Neenah Christina Poad • Oshkosh/Winnebago Jim Zuehlke • Black Creek Jennifer Leopold • New London Jenny Reedy • Clintonville Sarah Ruiz-Harrison • Manitowoc/Two Rivers
Jackie Johnson Living It Award NAMED IN HONOR AND LOVING MEMORY OF JACKIE JOHNSON (Team member 1984 - 2017)
Nominated by co-workers, these awards are given to staff who, just like Jackie, have demonstrated leadership, dedication, competence, exceptional performance, excellent service and a commitment to the community. 2019 Summer Recipient: Lisa Anderson Member Solutions Officer
GREEN BAY AREA
Laurie Vincent • Ashland Avenue Joni Trousil • Main Street Tricia Brittenham • Military Avenue Ken Kerschke • Voyager/Howard (Lineville Road) Jane Balthazor • Bellevue Arnie Garcia • De Pere/NWTC Adam Petersen • Howard (Velp Avenue) Nicole Karnopp • Luxemburg Sara Wesolowski • Pulaski
2019 Winter Recipients: All Fox Family (Staff) Members “The efforts of all staff as we embarked on this Technology Upgrade have been amazing, incredible, tiresome and with all the best intention of our members and staff members. To single one person out during this time is near impossible...” - Anonymous Nominator
Anniversaries (years of service) 35 30 25 20
Cindy Jansen • Payroll Administrator Susan Sawinski • Training Kim Davis • Member Solutions Assistant Nancy Krahn • VP Branch Operations/Member Service Lisa Anderson • Member Solutions Officer Kurt Carpenter • Systems Administrator Tammy Hagberg • Vault Teller Andrea Lewis • Card Services Specialist
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Joedy Thompson • Dir. of Marketing Analytics/Strategy Heather Wessley • Community Engagement Manager Scott Wilda • Residential Real Estate Underwriter Bryant Kazik • AVP Business Services Stephanie Ladd • Mortgage Loan Servicing Rep. Sara Wesolowski • Branch Manager Sao Yang • Member Relationship Officer
20 13
Jan Sharma • Senior Financial Analyst Karen Reince • Payment Specialist
Retirements (years of service) 28 27
Barb Vanden Berg • Quality Control Representative II Kay Prucha • Mortgage Loan Officer
www.foxcu.org
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Locations Fox Cities & Surrounding Area Appleton
3401 E Calumet Street 2531 Highway Drive 1724 S Lawe Street 610 E Wisconsin Avenue
Kimberly
528 S Washington Street
Neenah
1151 Westowne Drive
Oshkosh
Winnebago Mental Health Institute Grounds
Black Creek 502 S Main Street New London 1302 N Shawano Street Clintonville
3 N Main Street
Manitowoc
4102 Calumet Avenue
Two Rivers
1515 17th Street
Green Bay Area Green Bay
2170 S Ashland Avenue 807 Day Street (New June 2020) 1820 Main Street 411 S Military Avenue 3139 Voyager Drive
Bellevue
2521 Steffens Court
De Pere
515 Redbird Circle
Howard
2525 Lineville Road 2200 Velp Avenue
Luxemburg
106 N Main Street
Pulaski
1061 Corporate Way
Federally Insured by NCUA
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