2014 Annual Report
The Staff and Board of Directors, at Fox Communities Credit Union, work hard every day to help “Make Life Happen” for you, our member, and our communities. We keep these needs at the top of our list. This is why we are here...to provide the best deposit products, help you into your dream home, purchase a new vehicle or get that start-up business loan. Our volunteer Board of Directors donates their time for meetings and community events, because they believe in the credit union model of people helping people. By working together, we are helping make life happen for many! Greg Hilbert, President of Fox Communities Credit Union, states, “Being part of the Fox team means we are looking out for your best interest, so you can worry less and live more. We began in 1937 and have grown to over 74,000 members. Our members put their trust in us every day. This allows us to grow, so we can continue to offer competitive rates and develop the products and services that our members need.” 2014 was a great year for the credit union. Loan balances increased 11.6% due to a strong volume for auto, business and mortgage loans. Interest rates continued to be at an all-time low, which allowed members to get their loan at an attractive rate. Savings increased by 6.6%. Fred VanHandel, Board Chair, states, “As technology continues to make an impact, in so many non-financial areas, it also holds true at the credit union. The Board and management are diligent in their research and education of upcoming products so we can be prepared for the future needs of our members. However, we always hold our member service standards to the highest level. Technology driven products are just another way for us to provide excellent member service.” Products and services that were developed or expanded in 2014: • Mobile check deposit was introduced within our mobile app. This allows our members to deposit checks on a smart phone without stepping into the credit union.
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• Our website was upgraded to a responsive site allowing the user to switch from their desktop/laptop, to tablet or mobile phone; the website automatically adjusts to accommodate for resolution, image size and scripting abilities. • The business credit and debit card were enhanced and received a new design. One of our main objectives is to provide sound financial education to help members feel empowered to make wise financial decisions. • Informational articles and videos are placed on our website and in our newsletters providing members with financial tips. • 1,100 members benefited from attending one of our 32 member seminars. • 2,319 students attended one of our 92 student classroom presentations last year. • Fox participated in three Career Fairs, at local schools, with over 3,100 students attending. • Children and their parents attended our second Annual Summer Reading Challenge Kickoff at the Timber Rattlers Stadium in June. Young members were encouraged to read ten books or 500 pages over a 12 week span in the summer. • We were a sponsor of “Get Your Students Pumped Up on Personal Finance and Economics.”
Summer Rea ding Challenge Kickoff
• BALANCE Financial Fitness Program continues to provide good financial information to our members. Information is available in multiple formats, such as, money management booklets in each of our branches, online tools, articles and podcasts, as well as free budget and debt counseling by phone. In March of 2014, we opened our fifth Green Bay office on 411 S. Military Avenue, located on the corner of Military and Western. We are able to provide more personalized service with the “pod” concept, which replaces the traditional teller line and allows members to interact with staff and view accounts together. Many members have ue • Green Bay 411 S. Military Aven
found this location to be convenient for both their personal and business needs.
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On November 10, 2014, we broke ground for our newest Green Bay location at 1820 Main Street. The staff, at our existing Main Street branch, will relocate to this new location. It will have the same “pod” concept and full service capabilities. Look for our reet 1820 Main St
• Green Bay
grand opening in early summer!
Fox has a genuine concern for the well-being of others in the community and we want to help those in need, whenever possible. • Our staff and Board of Directors contributed over 685 hours of volunteer time at Fox sponsored events, such as, Rebuilding Together, where houses are made safe, so the owner is able to stay in their home. • Over the last 14 years, more than $209,000 has been raised from a silent auction held at our employee holiday party. The funds are given back to local non-profits that benefit a variety of causes
Staff at Rebuildin g Together project day
chosen by our staff. • During the past five years, the credit union has been a part of the annual “Stock the Shelves” campaign. This drive benefits 61 local food pantries and programs that serve thousands of people struggling with the most basic of needs. • We collected a record 1,729 coats during the “Coats for Kids” drive in 2014. • Fox cemented a strong partnership with Feeding America Eastern Wisconsin. We are the sponsor of the volunteer center located within their new facility. Feeding America is a nationwide network of food banks fighting hunger. We take pride in doing what is best for our members and the communities we serve. Fox remains steadfast in the credit union motto to put people before profit. In return, we are able to grow through the referral of family and friends, thereby strengthening our financial cooperative so we can better serve our members and help “Make Life Happen” for many!
Thank you for your continued belief in us. We wish all of our members a prosperous and happy 2015! www.foxcu.org
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Statement of Financial Condition
2014
2013
Assets 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
$ 24,448,841 $ 121,853,219 $ 146,425,686 $ 451,669,367 $ 203,730,740 $ 33,723,772 $ (5,261,392) $ 16,265,523 $ 20,509,828 $ 1,013,365,584
$ $ $ $ $ $ $ $ $ $
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
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
$ 202,316,372 $ 124,129,708 $ 207,820,715 $ 162,157,933 $ 60,428,764 $ 134,182,919 $ 9,445,391 $ 112,883,782 $ 1,013,365,584
$ $ $ $ $ $ $ $ $
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
Statement of Operation Revenue Interest on Loans Investments Other Revenue Total Gross Revenue
$ $ $ $
31,969,186 1,813,343 10,894,230 44,676,759
$ $ $ $
31,182,020 1,826,549 10,579,624 43,588,193
Expenses Salaries & Benefits Office Occupancy & Operations Education & Promotion Provision for Loan & Lease Losses NCUA Insurance Outside Services & Other Operating Cost of Borrowing Dividends Paid to Members Total Expenses BALANCE TO RESERVES
$ $ $ $ $ $ $ $ $ $
14,341,067 3,451,184 1,656,084 (112,451) 8,089,598 3,065,789 3,597,292 34,088,563 10,588,196
$ $ $ $ $ $ $ $ $ $
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
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Board of Directors Fox Communities Credit Union is run by a volunteer Board of Directors. The Board is responsible for the general oversight and final decision-making authority over the affairs, funds and records of the credit union; 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.
Fred VanHandel Chairman CBC Coating
Paul Sippl Vice Chairman U.S. Venture, Inc.
Joanne Bogenschutz Secretary Retired: Albany International
Brian Hasser Director Green Bay Packaging
Sharon Gunderson Director Retired: Appleton Papers
William Panella Director Rasmussen College
Al Timmerman Director Jet Air Group
Doug Schley Director Self Employed
Rich Scott Director Kerber Rose & Associates
Mary Zito Director Air Wisconsin Airlines
Management Team • Greg Hilbert – President/CEO • Cathy Harvath – VP Marketing • Bruce Kotarek – VP Finance • Nancy Krahn – VP Branches/Member Service • Dave Thone – VP Internal Operations • Don Vanevenhoven – VP Lending • Christopher Allen – AVP Commercial Lending • Jason Behling – AVP Retail Lending • Terri Green – AVP Human Resources • Donna Habert – AVP Compliance & Training • Jackie Johnson – AVP Information Systems www.foxcu.org
• Deb Konitzer – AVP Member Payment Systems • Michele Stumpf – AVP Branch Operations • Lindsay Beyer – Online Services Project Manager • Terry Braeger – Loan Operations Manager • Rick Dennis – Consumer Lending Manager • Bob Hein – Collections Manager • Jeff Rufe – Investment Manager • Hope Smock – Quality Control Manager • Diane Wagner – Controller • Laura Waters – Call Center Manager 2014 • Annual
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Branch Managers • Jane Balthazor – Military Avenue • Tara Banker – Black Creek • Karen Dietzen – Wisconsin Avenue • Lisa Hanna – Kimberly • John Hessenthaler – Neenah • Jennifer Hoffmann – New London • Ken Kerschke – Howard • Port Lor – De Pere/NWTC • Renee Minlschmidt – Calumet • Rachaele Petersen – Northland Avenue • Christina Poad – Winnebago • Becky Thorn – Clintonville • Joni Trousil – Main Street • Laurie Vincent – Ashland Avenue • Rhonda Young – Lawe Street
Retirements • Shirley Wunderlich – 19 years Member Service Representative • Kay Keller – 14 years Quality Control Representative
Anniversaries 30 Years • Jackie Johnson – AVP Information Systems
25 Years • Sue Sawinski – Training Assistant
20 Years
• Laurie Kieckhafer – Consumer Loan Officer • Nancy Krahn – VP Branches/Member Service
10 Years • Becky Ellis – Training Assistant • Linda Heider – Teller, De Pere • Amy Liesse – Teller, Kimberly • Sheila Much – Teller, Clintonville • Joni Trousil – Branch Manager, Main Street
Employee Excellence “Living It” Award Excellence Award recipients are nominated by co-workers. The award is given to those who have demonstrated leadership, dedication, competence, exceptional performance, and excellent service to members as well as a commitment to the community.
Cal Radue Records Manager Ashland Avenue www.foxcu.org
Michelle Bader Senior Accountant Calumet Street
Sandra Cloutier Teller Northland Avenue
Stephanie Pirus Call Center Representative Calumet Street 2014 • Annual
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LOCATIONS
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.
APPLETON AREA 3401 E. Calumet Street 610 E. Wisconsin Avenue 1724 S. Lawe Street 2531 Highway Drive (OO & A) 528 S. Washington Street - Kimberly 1151 Westowne Drive - Neenah GREEN BAY AREA 2170 S. Ashland Avenue 1313 Main Street 411 S. Military Avenue 515 Redbird Circle - De Pere 2525 Lineville Road - Howard BLACK CREEK 502 S. Main Street CLINTONVILLE 3 N. Main Street NEW LONDON 1302 N. Shawano Street WINNEBAGO/OSHKOSH Winnebago Mental Health Institute Grounds
Federally Insured by NCUA. Equal Housing Opportunity.
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