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Annual Report 2018 Westby Co-op Credit Union is an Equal Opportunity Employer. wccucreditunion.coop THIS CREDIT UNION IS FEDERALLY INSURED BY THE NATIONAL CREDIT UNION ADMINISTRATION. EQUAL HOUSING OPPORTUNITY. 2018 Board of Directors Ron Larson, Chairperson Monte Torgerson, Vice-Chairperson Bruce Stefferud, Treasurer Sarah Mani, Secretary Alan Berg, Director Bill Marohl, Director Christine M. Sloat, Director 2018 Credit Committee Robert Devine Ron Larson Bruce Stefferud 2018 Nominating Committee Christine M. Sloat, Chairperson Mary Schultz Bob Dickman BARABOO CASHTON COON VALLEY LAKE DELTON REEDSBURG RICHLAND CENTER VIROQUA WESTBY Thank you to our 2018 Staff, Board & Members!

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Page 1: wccucreditunion · Annual Report 2018 Westby Co-op Credit Union is an Equal Opportunity Employer. wccucreditunion.coop THIS CREDIT UNION IS FEDERALLY INSURED BY THE NATIONAL CREDIT

Annual Report2018

Westby Co-op Credit Union is an Equal Opportunity Employer.

wccucreditunion.coop

THIS CREDIT UNION IS FEDERALLY INSURED BYTHE NATIONAL CREDIT UNION ADMINISTRATION.

EQUAL HOUSING OPPORTUNITY.

2018 Board of DirectorsRon Larson, ChairpersonMonte Torgerson, Vice-ChairpersonBruce Stefferud, TreasurerSarah Mani, SecretaryAlan Berg, DirectorBill Marohl, DirectorChristine M. Sloat, Director

2018 Credit CommitteeRobert DevineRon LarsonBruce Stefferud

2018 Nominating CommitteeChristine M. Sloat, ChairpersonMary SchultzBob Dickman

BARABOOCASHTON

COON VALLEYLAKE DELTON

REEDSBURGRICHLAND CENTER

VIROQUAWESTBY

Thank you to our 2018 Staff, Board & Members!

Page 2: wccucreditunion · Annual Report 2018 Westby Co-op Credit Union is an Equal Opportunity Employer. wccucreditunion.coop THIS CREDIT UNION IS FEDERALLY INSURED BY THE NATIONAL CREDIT

2018 Operating StatementIncome

Interest Income . . . . . . . . $20,536,942Investment & Other Income . . $8,895,020

Total . . . . . . . . . . . . . . . $29,431,962

Operating ExpensesEmployee Comp/ & Benefits . . $9,899,518Travel & Education . . . . . . . . . $214,220Association Dues . . . . . . . . . . $122,617Office Occupancy . . . . . . . . $843,330Office Operation . . . . . . . . . $2,813,661Donations & Promotional . . . . . $293,984Loan Servicing . . . . . . . . . . $1,972,869Professional & Outside Services . $2,162,482

Total . . . . . . . . . . . . . . . $18,322,681

Distribution of IncomeExpenses . . . . . . . . . . . . $18,322,681Interest Paid . . . . . . . . . . . $3,112,506Reserves . . . . . . . . . . . . . $7,996,775

Total . . . . . . . . . . . . . . . $29,431,962

Assets 2017 2018Cash . . . . . . . . . . . $577,035 $2,812,195Investments . . . . . $64,908,005 $66,327,976Loans (net) . . . . .$380,346,938 $411,921,690Furniture & Equip . . . $1,832,872 $2,505,915Land & Building . . . $8,953,377 $8,656,239Accounts Rec . . . . . $1,532,908 $1,979,400Prepaid & Deferred $16,293,554 $16,947,327Other . . . . . . . . . . .$89,715 $10

Total . . . . . . . . $474,534,404 $511,150,752

Liabilities 2017 2018Deposits . . . . . . .$390,755,655 $420,942,972Current Liabilities . . . $5,709,057 $4,058,319Accrued Interest . . . . $319,223 $463,668Reserves . . . . . . $77,750,469 $85,685,793

Total . . . . . . . . $474,534,404 $511,150,752

TOTAL MEMBERS: (as of December 31, 2018) 32,949

WESTBY CO-OP CREDIT UNION2018 F INANCIAL STATEMENT


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