COOPERATIVE CREDIT UNION

Address
6219 Washington Avenue
Racine, WI 53406
Contact
Website: http://www.co-operativecu.com
Phone: +1 (262) 796-4500
Nonprofit
NTEE: W61 - Credit Unions
EIN: 39-0224618

Mission

Co-Operative Credit Union 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.
 201120102009
Basic features of the organization
Year of formation1935
Metropolitan statistical area5082
Form of organization
CorporationTrue
Human resources, including compensation
Summary compensation info
Total compensation of current key personnel$160,410.00$91,992.00 
Sum of reportable (W2/1099) compensation$143,364.00$91,992.00 
Number of employees1417 
Number of people compensated >$100k10 
Number of volunteers6  
Personnel
Durkin, Donald
TitleChairmanChairman 
Name of key/compensated personDonald DurkinDonald Durkin 
Position of compensated person
Current individual trustee or directorTrueTrue 
Current officer True 
Average hours per week working for org1  
Reportable compensation from org$0.00$0.00 
Other comp, non-reportable, from org and related orgs$0.00$0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00 
Garner, Thomas
TitleVice ChairmanVice-Chair 
Name of key/compensated personThomas GarnerThomas Garner 
Position of compensated person
Current individual trustee or directorTrueTrue 
Current officer True 
Average hours per week working for org1  
Reportable compensation from org$0.00$0.00 
Other comp, non-reportable, from org and related orgs$0.00$0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00 
Havican, Bonita
TitleSecretarySecretary 
Name of key/compensated personBonita HavicanBonita Havican 
Position of compensated person
Current individual trustee or directorTrueTrue 
Current officer True 
Average hours per week working for org1  
Reportable compensation from org$0.00$0.00 
Other comp, non-reportable, from org and related orgs$0.00$0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00 
Klopstein, Kenneth
TitleDirectorDirector 
Name of key/compensated personKenneth KlopsteinKenneth Klopstein 
Position of compensated person
Current individual trustee or directorTrueTrue 
Average hours per week working for org1  
Reportable compensation from org$0.00$0.00 
Other comp, non-reportable, from org and related orgs$0.00$0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00 
Ogrizovich, Paul
Title Director 
Name of key/compensated person Paul Ogrizovich 
Position of compensated person
Current individual trustee or director True 
Reportable compensation from org $0.00 
Other comp, non-reportable, from org and related orgs $0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00 
Orgrizovich, Paul
TitleDirector  
Name of key/compensated personPaul Orgrizovich  
Position of compensated person
Current individual trustee or directorTrue  
Average hours per week working for org1  
Reportable compensation from org$0.00  
Other comp, non-reportable, from org and related orgs$0.00  
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00  
Shilhavy, Brian
TitleDirectorDirector 
Name of key/compensated personBrian ShilhavyBrian Shilhavy 
Position of compensated person
Current individual trustee or directorTrueTrue 
Average hours per week working for org1  
Reportable compensation from org$0.00$0.00 
Other comp, non-reportable, from org and related orgs$0.00$0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00 
Winters, Susan
TitleExec Director / CEOPresidentTreasurer 
Name of key/compensated personSusan WintersSusan L Winters 
Position of compensated person
Current individual trustee or directorTrueTrue 
Current officerTrueTrue 
Average hours per week working for org4040.00 
Reportable compensation from org$143,364.00$91,992.00 
Other comp, non-reportable, from org and related orgs$17,046.00$15,129.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00 
Purpose: mission, activities, & accomplishments
Mission or significant activitiesCo-Operative Credit Union is a cooperative, non-profit 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.To Provide Quality Service and Products to our membership in an economically sound manner To remain a competitive alternative while preserving the credit union philosophy 
Program service expenses, total$0.00  
Programs, including revenue & expenses
Granted 642 loans to credit union members, representing approximately $8,100,000, aimed at meeting their respective financing needs.
Program expenses$0.00  
Grants and allocations made$0.00  
Program revenue$0.00  
Program descriptionGranted 642 loans to credit union members, representing approximately $8,100,000, aimed at meeting their respective financing needs.  
Provided low-cost financial services to over 4,300 members, who reside primarily in Southeastern Wisconsin.
Program expenses$0.00  
Grants and allocations made$0.00  
Program revenue$0.00  
Program descriptionProvided low-cost financial services to over 4,300 members, who reside primarily in Southeastern Wisconsin.  
Provided over 7,700 savings-type accounts to the credit union's members. The accounts are structured to encourage member thrift and provide a competitive return on their savings.
Program expenses$0.00  
Grants and allocations made$0.00  
Program revenue$0.00  
Program descriptionProvided over 7,700 savings-type accounts to the credit union's members. The accounts are structured to encourage member thrift and provide a competitive return on their savings.  
We funded 573 loans during 2010 As of 123110 we had 123 mortgageshome equity lines 1516 consumer loans and 76 credit card accounts with our members
Program description We funded 573 loans during 2010 As of 123110 we had 123 mortgageshome equity lines 1516 consumer loans and 76 credit card accounts with our members 
We have deposit transaction and investment accounts with 4464 of our members at 1231 During 2010 we opened 472 new deposit transaction and investment accounts
Program description We have deposit transaction and investment accounts with 4464 of our members at 1231 During 2010 we opened 472 new deposit transaction and investment accounts 
Financial data
Revenue
Total revenue$1,405,179.00$1,405,654.00 
Revenue from contributions (total)$0.00$0.00$0.00
Investment income, current yr$47,677.00$33,954.00 
Total revenue from grants, etc., current yr$0.00$0.00 
Total unrelated business revenue$0.00$430.00 
Other revenue, current yr$0.00$40,954.00 
Net unrelated business taxable revenue$0.00$0.00 
Program service revenue (total)$1,357,502.00$1,330,746.00$1,485,331.00
Gross receipts$1,405,179.00$1,428,154.00 
Other types of revenue
Royalties (total)$0.00$40,954.00 
Miscellaneous revenue (total)$0.00  
Income from dividends, interest, and similar investments$47,677.00$56,454.00 
Net rental income $0.00$0.00
Expense categories (totals)
Total functional expenses: sum of all$2,360,234.00$1,756,793.00 
Total functional expenses: program service $0.00$0.00 
Total functional expenses: management and general$0.00$0.00 
Total functional expenses: fundraising$0.00$0.00 
Fees for services
Legal fees (total)$636.00$528.00 
Fundraising service fees (total)$0.00$0.00 
Assets and liabilities
Total assets$0.00$20,975,141.00$20,920,077.00
Total assets, beginning of year$20,975,141.00$20,920,077.00 
Total liabilities$0.00$18,358,855.00$17,948,318.00
Total liabilities, beginning of year$18,358,855.00$17,948,318.00 
Net assets$0.00$2,616,286.00 
Net assets, beginning of year$2,616,286.00$2,971,759.00 
Other liabilities $17,969,383.00 
Other assets $90,869.00 
Investments: other securities $343,334.00 
Cash: non-interest bearing $1,006,596.00 
Cash: non-interest bearing, beginning of year$1,006,596.00$1,579,091.00 
Investments -- program-related $338,315.00 
Other financial variables
Revenue less expenses-$955,055.00-$351,139.00 
Advertising (total)$56,147.00$63,903.00 
Savings & temp cash investment $2,431,000.00 
Prepaid expenses & deferred charges $130,027.00 
Accounts payable & accrued expenses $11,339.00 
Deferred revenue $18,228.00 
Secured mortgages and notes payable $359,905.00 
Total net assets or fund balances$0.00$2,616,286.00 
Depreciation, depletion, amortization$187,278.00$83,977.00 
Governance and accountability
Number of voting members77 
Number of independent voting members66 
Discontinued or disposed >25% of net assetsTrue  
Accrual accountingTrueTrue 
Tax year start date2011-01-012010-01-01 
Tax year end date2011-12-012010-12-012009-12-01
Metadata about the filing
E-return type: 990, 990EZ, or 990PF990990 
Reason for form submission
Final return / terminatedTrue  
Date e-filing submitted2012-11-142011-10-27 
IRS schema version2011v1.22010v3.4 
Filing identifier201222289349301807201122099349300142 
Use these data in your project Benchmark this organization against its peers