helping people 85 years of people 2022 Annual Report | Brand Book Helpingyou make lifehappen!85 YEARS 1937 – 2022
A message from our President/CEO and Board Chairperson
“People Helping People” is how we started 85 years ago in 1937, at the Combined Locks Mill, when a group of workers pooled their money together to help each other in times of need. The Credit Union’s first loan given was to a millworker so the family could purchase Christmas presents that year. We have grown since then, but our commitment to you, our members, has never changed. Our Fox team members help you run the numbers and understand your credit score, but we work hard every day to get to know YOU, the person beyond the numbers. We are “People Helping People”, helping you with your financial journey, one step at a time.
Throughout 2022, our local branch footprint continued to evolve with additional locations and a credit union partnership, which allows us to continue to meet your needs:
• In May of 2022, we opened a new location in Oshkosh, by moving the office located on the Winnebago Mental Health grounds to 1870 Oshkosh Avenue. This helped us expand our reach and commitment to the Oshkosh community. This branch has extended hours and additional drive-up lanes!
• Schneider Community Credit Union, located in Green Bay, partnered with Fox in May of 2022. This union provided more products/services and convenient locations to the members of Schneider Community Credit Union.
• Our new corporate location became a reality in the fall of 2022. Over the years, we had outgrown our headquarters on Calumet Street, Appleton, and had to place some corporate departments/team members in other locations. The opening of 2201 E Enterprise Avenue, Appleton, brought many departments together under one roof which will aid in improved member service to you. This location does have a lobby to manage members’ deposit needs and an ATM inside the building.
Chris Allen, President, and CEO of Fox Communities Credit Union states, “2022 was a year of growth for us in terms of locations, and it also was a year of change with interest rates rising for both deposits and loans. As interest rates began to rise, Fox had to react while keeping in mind both our loan and deposit members. This environment gave us the opportunity to offer certificates at some of the highest rates seen in years. It also provided us with the ability to offer our members a checking product that pays 5% on balances up to $5,000. We named it Rewards Checking as it truly does reward you and helps to build your financial strength. You are the sole reason we were created in 1937 and why we are here today, “People Helping People”!
Your needs are at the forefront of every decision we make. One change that we implemented was to create a Centralized Lending Team which means quicker answers and solutions to your loan needs. We brought key team members together so they can work side by side creating that exceptional member service for you, our member!
We also concentrated on some of our loan products by launching our “It’s About Time Homeowner’s loan” which can provide up to $40,000 as soon as the same day that you apply. This loan can make your life easier, whether it’s buying that dream purchase or taking care of some of life’s unexpected needs. Another positive change was to our credit card, which was enhanced by offering a cash statement credit option to the point redemption feature, along with increasing the overall point value so you earn more rewards. You provided feedback on our points rewards program, and we listened!
“Our Fox team does a great job handling the day-to-day operations of our Credit Union, but as a member of the Fox board, I’m privileged to have a high-level view of those operations,” said Rich Scott, Board Chairperson. “My job and the job of the Board as a whole, is to make sure all decisions are made with your needs as our main focus, and this was shown throughout 2022 with the strategic changes we made with our locations and products. In 85 years we have seen tremendous growth, but none of this is possible without your trust in us as a safe and secure financial institution looking out for your financial future.”
Chris Allen President/CEO
Rich Scott Board Chairperson
Beyond our consumer members, we are making moves to strengthen our business services to better meet the needs of our commercial members. And with new treasury management services coming in 2023, we’re looking to grow our commercial membership and become a beacon of financial services for the businesses that partner with us. Simply put, we’ll provide big bank services with credit union values.
And with our upgrades to the safety and security of our Mobile and Online Banking systems, you can easily and conveniently take care of your finances no matter where you are – giving you more time with family, friends, and your communities.
We could not continue to increase our offerings to you, our member owners, without your trust in us. Every day we work hard to make your stories happen. Whether it’s buying that dream home or consolidating bills, we are and will always be…”People helping People”… helping you make life happen.
Thank you to our members, team members and Board of Directors for making 2022 one of our strongest years to date and creating a true partnership with one another. Wishing all of you a happy and prosperous 2023!
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Our Board of Directors
Our Board is elected by our members. They are responsible for the oversight and final decision making over affairs, funds, and records of Fox.
Our sole purpose is to look out for our members, to make sure the Credit Union is operating in a fair manner and in the best interests of all members. - Rich
Executive Team
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Our team members
love helping you make life happen!
Martin Docter Director U.S. Venture, Inc.
Kory Kitowski Chief Information Officer James Richardson Vice Chairperson Kimberly Clark William Panella Director Rasmussen College Joanne Bogenschutz Secretary Albany International (Retired) Paul Sippl Director U.S. Venture, Inc. (Retired) Jessica Fleek Director Lakeland Care Michael Voelker Director Acuity Insurance Camille Zizzo Treasurer Aurora Health Care Rich Scott Chairperson Kerber Rose & Assoc. (Retired)
Dave Thone SVP Member Solutions
Scott
Chris Allen President/CEO Krista Draheim VP Strategic Plan/Delivery Terri Green VP Human Resources Lindsay Beyer VP Digital Services Cathy Harvath SVP Marketing Kris Hackbarth-Horn Chief People Officer Jenefer Kind SVP Operations Nancy Krahn Chief Retail Officer Adam Landsverk Chief Lending Officer Mitchell Musial General Counsel Niki Schaumberg Chief Financial Officer
Statement of Financial Condition
By the Numbers
Asset Growth
637,306
$2,18 5, 447,72 3
$1 , 834 , 89 4,0 59
12,008
People who joined you (and over 111,000 others) as a member of our Credit Union
#1
(17%) $2 ,1 15 , 98 9,295
$1 ,8 09,943, 2 51
$1,6 53, 557,541
Awarded best financial in the Green Bay market (Finalist: Fox Valley)
$1, 520, 418 ,259 2022 (8%) $2 ,1 59 , 64 7, 123
Deposit Growth
Thanks for voting for us
Additionally, we were named as finalist for best financial planner in the Green Bay and Fox Valley areas, and finalist for best mortgage lending company in the Green Bay area.
Cash & Cash Items Investments Vehicle Loans Real Estate & Home Equity Loans Business Loans All Other Loans Allowance for Loan Losses Fixed Assets Receivables and Other Assets Total Assets Savings & Club Accounts Checking Accounts Money Market | Investment Share Accounts Certificates Individual Retirement Accounts Borrowings Payables and Other Liabilities Net Worth Total Liabilities & Member Equity Interest on Loans Investments Other Revenue Total Gross Revenue Salaries & Benefits Office Occupancy & Operations Marketing & Community Support Provision for Loan & Lease Losses Outside Service & Other Operating Cost of Borrowing Dividends Paid to Members Total Expenses Balance to Reserves 127,203,985 426 , 959 ,484 349, 597, 467 863,162 ,627 512 , 373 ,209 84, 809 ,948 (6, 615 ,075) 38, 605 , 370 56, 540 , 291 2, 4 52, 63 7,306 88,796,344 392, 28 9, 477 437, 572,412 1,006,972,032 565,368 ,478 106,076,373 (8,405 ,038) 44,09 1,203 61 ,220,53 3 2,693,981,814 706 ,058, 925 391 , 583 , 611 473 ,121 ,332 331 , 331 , 300 93, 595 , 321 180 ,525,279 27,385,736 249,035, 802 2, 452,63 7,306 709,705,452 41 6,652,998 429 , 531 ,803 508 ,700, 324 95,056,54 6 277, 977, 675 33,760 ,963 222,596 ,05 3 2,693,98 1,814 Assets Liabilities & Member Equity Revenue Expenses 64,092, 307 5,896 , 267 24,41 8,119 94,40 6,693 71,016 ,685 10, 988 ,4 20 22 ,3 8 0, 656 104,385 ,7 61 31,228,553 10,954,270 2,822 , 996 ( 342 , 238) 12,020,085 3,729 ,701 8,374 , 445 68,7 87, 81 2 34 ,585,243 13,626,022 3, 473 ,247 3,002 ,76 5 14 , 523,326 7,363,747 9,546 ,399 86,120 ,74 9 25,618 ,8 81 18,265,012 2022 2021 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $
2022 2021 Statement of Operations $1,500 $2,000 $2,500 $2,750 $2,250 $1,750 20192020 20212022 Millions 7
+
Loan Growth
2022 (10%) $2, 69 3, 981 ,81 4 2021 $2, 4 52,
2019
2020
2019
2021
2020
2022
2021
$1, 995 , 690 ,489 2020 $1,7 39, 500 ,8 46 2019 $1 ,380,744 ,34 0
FINANCIAL
Our story leads to your story; helping you make life happen
We were started by a group of mill workers at the Combined Locks Mill who pooled their funds together to be able to provide loans to fellow mill workers, and have ownership of where they kept their deposit accounts. The first loan was given to a fellow mill worker so he could buy Christmas presents for his family.
Our Vision
We embrace our organizational evolution to create a lasting member experience that exceeds expectations by ensuring our team is exceptional, has the tools to succeed, and is shown the love, value, and respect they deserve.
Credit Union was to raise money to be lent among its members.”
1939 We grew to 213 Credit Union members at the Combined Locks Credit Union.
1979
We broke ground for our new office building on the Combined Locks Mill property.
1980
1987
1989
1974 We hit $1 million in assets allowing for a greater loan capacity due to the increase in deposits with a larger membership base.
The first stand-alone office opened on the Mill property, and Greg Hilbert was hired as President and CEO, joining a team of four.
A er adding a location in Appleton due to the partnership with a local credit union, it was decided that we needed to change our name from Combined Locks Credit Union. Our new name was chosen through a naming contest.
We reached over $23 million in assets and moved the Appleton office to its current Wisconsin Avenue location.
2020
Greg Hilbert retired, and Chris Allen was selected as the new President and CEO to help guide us into the future.
In May, we opened our new Oshkosh location at 1870 Oshkosh Avenue.
In the fall, we moved our headquarters to a larger building at 2201 E. Enterprise Avenue in Appleton off of I41 and Ballard Road.
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2022
Our Purpose
We have a p assion for helping people in our communities.
Credit Union Difference
Not-for-profit Member Owned Higher Dividends on Deposits
5,108 Toys collected to help make children smile on Christmas morning
$5,907 Value of hygiene items collected to help the local homeless communities
Lower Loan Interest
1,029 Hours our team members volunteered to help local nonprofits and charities
756,403
Meals provided to the hungry due to the combined efforts of many
Community-focused Serving, Educating, and Promoting Financial Success
4,601 Coats collected to help keep local children warm during our cold winters
$662,500
The value of our monetary impact to nonprofit and community organizations
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We are also at the open-air igNight markets that feature art, life-sized games, local food and drink vendors, live art, music and more.
New to our event sponsorship lineup is the Green Bay Mural and Busker event. People are happily entertained by buskers and many talented mural artists.
The sky is dotted with colorful kites, and then fireworks and sky lanterns as far as the eye can see during the Kites Near Lake Michigan kite festival. 13
first Saturday in August
biketothebeat.com
Another successful year for Bike to the Beat
We saw riders share the roadways with family and friends spanning numerous bike routes from Appleton to Green Bay (and sometimes back again!) enjoying 21 bands and eight stops for food, drinks and entertainment.
$66,500 Registration fees and donations from our big event went to the Fox Cares Foundation
21 Bands played throughout the day between all stops
2,818 Riders took to the course for the fun Saturday event
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$161,705
Contributions received
A ll heart, no profit
Established in 2016, the Fox Cares Foundation is a nonprofit 501(c)(3) organization addressing three key needs to help form a physically and emotionally healthy community.
A year of awarding grants to
Bergstrom-Mahler Museum of Glass
Clintonville Goodfellows Association
Compassionate Connection Center Clintonville
Day by Day Warming Shelter, Inc
Fox Cities Festival of Lights
$39,500 Dollars given through grants
$45,434 Funds collected during our annual Foundation donation match period, where we, the Credit Union, matched donations up to $25,000
Ending homelessness... because no person should have to go without a place to call home
Fox Valley Veterans Council
Loaves & Fishes
NeighborWorks Green Bay
Providing access to the arts... because expression through the arts brings beauty to the community at large Fighting hunger... because no community thrives when some go hungry
Riverview Gardens
Solutions Recovery, Inc
The Friendship Place YouthGo
Fox Cares Foundation, Inc. is a Wisconsin non-profit corporation with a 501(c)(3) status effective June 21, 2016. While Fox Commu Fox Cares Foundation Inc., the entities are neither legal affiliates nor subsidiaries of each other.
Pictured: Golden ticket recipients at the Bergstom-Mahler Museum of Glass
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nonprofits
S mart Money Education for
We’re committed to helping you, our members, make stress-free finances happen. Take advantage of our free, member exclusive, financial education resources and programs.
Webinars, seminars and more... oh my!
Join us for one of our monthly webinars, seminars, and radio shows to learn a great deal of financial information. Topics range from budgeting to borrowing money for things like a new car or your first home.
We offer a large variety of topics so that there is something useful for each of our members.
foxcu.org/calendar
Whether you’re interested in creating a workable spending and savings plan, getting out of debt, or taking a look at your credit report, BALANCE can help, and at no cost to you!
• Budget/debt counseling
888-456-2227
Monday-Thursday 9:30am-8:00pm Friday 9:30am-7:00pm Saturday 11:00am-4:00pm
• Online articles, worksheets, videos, & BALANCE Track learning modules foxcu.org/balance-finanacial-fitness
359
BALANCE Track online learning modules completed by members
40 Free member financial education webinars and radio shows presented
powerful resource for getting a handle on your debt. With SavvyMoney Checkup, you will learn how to pay down debt, create a personalized budget, monitor your spending, and more. You’ll even get all the resources you need to track your spending and live within your budget. foxcu.org/savvymoney
and resources for youth ages
4-12. Train to be financially knowledgeable with games, podcasts, comics, and more.
Elements of Money helps teens make smart financial decisions on things like saving for college and more, through podcasts and videos.
foxcu.org/youth-financial-literacy
114 Applications received from our senior high school members for a chance to be awarded one of five $1,000 scholarships for post-secondary education
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Striving to do our best and to
m
ake banking easy!
Mobile and Online Banking
• Pay bills, schedule recurring payments, and check payment progress
• Use Card Controls to lock/unlock your card, manage spending limits, and get card transaction alerts in real-time
• Mobile Check Deposit
• Add your Fox card to your digital wallet to make purchases with your smartphone
• Open accounts from our website for current or new members
Home buying assistance
Struggling to come up with a down payment for a home?
Closing costs holding you back?
We’re here to help! In fact, we have two great resources for our members to get their own home. A program that assists with down payment funds, and a loan that is geared towards first-time home owners.
Lending for all credit types
• Loans to help rebuild or build credit, such as Reliable Rides or our Credit Builder loan
• Unsecured personal loans with low rates to help you fund literally anything in one day or less from submitting your application
• We can even help you find the right vehicle for your lifestyle and budget with our free memberexclusive auto buying service
360 Members became first-time home owners with the help of our first time home buyer loans
$288,000
Home down payment funds granted to help our members buy their homes
144 Members improved/rebuilt their credit with our credit builder loan
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Your business is a big deal to us
For businesses large and small, we have the experience to help turn goals into reality. Our Business Services Team provides over a century of combined experience in business banking and treasury management.
Treasury Management
We know just how much running a business can consume your everyday life. That’s why we enhanced our treasury management tools to to help streamline your business finances.
• Business Online Banking with customized user access, Bill Pay, and Mobile Check Deposit
Helpful guidance
Our business team develops long-term financial relationships with business owners, employees, and entrepreneurs. Whether you’re starting out or building out, we provide the financial tools and guidance to help you succeed.
Personalized lending
We offer fixed/variable-interest rates, and flexible terms all within rapid processing times, because we know how important your time is.
Local accounts
We offer business checking, savings, credit cards, and health savings accounts.
419 New business loans given to help a businesses grow
• So ware integration by downloading account data to so ware, such as Microso Money, Intuit Quicken, or Quickbooks
• Mobile payment services/digital wallets
• ACH origination/electronic payroll
• Remote Deposit Capture scanning system
• Sweep accounts to maximize your earnings
• Wire transfers
$198 million
Loaned to business owners to help make business happen
• From virtual terminals that make and process payments, to tracking of sales through a web browser on your mobile phone, our partnership with Clover® merchant services offers you the tools to operate your business from anywhere
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Federally Insured by NCUA. Visit Us: foxcu.org/locations Find Us: instagram.com/foxccu Call Us: 920-993-9000 We p a r t n e r with our members, communities and Fox Family t o b u i l d s t r o n g e r fi n a n c i a l f u t u r e s . Our Mission
