2020 Annual Report

2020 Annual Report Photos: Fox members showcasing how they made memories happen in 2020!

E ST. 1937

As a not-for-profit cooperative, Fox Communities Credit Union exists for the sole reason of providing you, our member-owners, with the best possible financial institution we can, and to be there to help enrich your financial lives. It was with this goal in mind, that Fox Communities Credit Union was formed, in 1937, by three Combined Locks millworkers who pooled money from other co-workers and then lent it to each other, as needed, with a handshake and a promise to repay. They were there for each other then, as we are here for you today -- supporting and helping navigate through life’s financial journey.

We Are Here for You

Our Credit Union is a community of “People Helping People”. The mission to enrich the quality of life for our members is heightened during challenging times, and 2020 certainly had its challenges. We would like to thank you, our members, for your flexibility and patience as we worked through an unprecedented pandemic. We would also like to thank all our Fox team members, who persevered through extraordinary times to help ensure that our members’ financial interests were well taken care of through difficult circumstances. Not only were we able to keep our banking operations available to our members throughout 2020, but we also helped many through difficult times. Last year, we deferred loan payments up to six months on 1,726 loans, with combined balances of $119,139,579. We participated in the Paycheck Protection Program, a US Small Business Administration (SBA) backed loan designed to provide a direct incentive for small businesses, to keep their workers employed during the COVID-19 crisis, and facilitated loans to 393 of our business members. Our Credit Union also provided 23 small business grants of $1,000 to lessen the pandemic’s impact to them.

Finally, we were very proud to match the Fox Cares Foundation’s $35,000 donation to three local community foundations (Green Bay, Fox Valley, and Oshkosh) for a total of $70,000 to aid our neighbors in need.

We saw that some of our members were facing very real trials, in 2020, due to elements out of their control. In an effort, led by our new President and CEO, Chris Allen, we enhanced our Member Solutions department within the Credit Union. Chris explains his motivation, “We saw some of the complex issues members were facing and we wanted to find what we could do to help. Having a dedicated team to look at these situations and communicate with multiple departments will significantly speed up the process of finding a solution. We want members to quickly get the help that they need from us, so that they can leave feeling good about their financial situation and being a part of Fox. We are here for you, and our evolving emphasis on listening and responding to our member’s needs will continue to define our dedication to our members.”

Commitment to our members is paramount and at the forefront of all decisions made at Fox. Board Chairperson, Rich Scott, states, “We continuously review and identify where we can grow and improve for our members. Concentrating on our technology efforts and their capabilities will position us for continued growth into the future. We hear from our members what they need, and we do our very best to find and implement solutions. As an example, members wanted more control of their debit and credit cards to better protect them. ‘Card Controls’ was introduced allowing more monitoring activity, ability to turn cards on and off at will, and place travel alerts on them.”

As a community of neighbors, we may still be in a period of unpredictability, but as a Credit Union we are in a place of financial strength. The “normal” that we settle into may look different, and the ways we serve you may have added options, but one thing remains the same… we are here for you as we always have been.

From our dedicated staff and Board of Directors, we thank you for your continued trust and partnership with us and we wish all of you a happy and prosperous 2021!

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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

2020

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

$ 1,834,894,059

$ $ $ $ $ $ $ $ $

69,995,599 388,840,485 308,732,211 854,317,093 426,327,870 64,180,367 (7,768,920) 24,508,100 56,314,918

$ 2,185,447,723

Interest on Loans Investments Other Revenue Total Gross Revenue

$ $ $ $ $ $ $ $

442,397,403 250,309,333 284,370,013 318,147,697 85,519,894 214,613,835 29,161,762 210,374,122

$ 1,834,894,059

$ $ $ $ $ $ $ $

584,385,172 335,542,940 362,391,947 360,449,056 96,731,731 180,524,581 32,439,495 232,982,801

$ 2,185,447,723

$ $ $

61,960,142 5,725,308 21,355,706

$

84,223,252

$

89,041,156

$ $ $ $ $ $ $

25,258,034 9,461,021 2,549,024 1,582,474 11,696,929 4,923,711 11,846,800

$ $ $ $ $ $ $

27,749,452 10,602,954 2,537,853 4,184,407 12,217,169 4,440,888 12,100,722

$ $

67,317,993 16,905,259

$ $

73,833,445 15,207,711

$ $ $

61,951,667 5,813,305 16,458,280

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

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$2,185,447,723 $1,834,894,059 $1,673,782,946 $1,523,413,002

$2,200 $2,000 $1,800 $1,600 $1,400

Statement of Operations REVENUE

2020 (+19.10%) 2019 2018 2017 Million

ASSETS

Asset Growth

$1,200 $1,000

2017

2018 2019

2020

Loan Growth 2020 (+8.76%) 2019 2018 2017

$1,653,557,541 $1,520,418,259 $1,443,450,843 $1,326,189,609

Deposit Growth 2020 (+25.98%) 2019 2018 2017

$1,739,500,846 $1,380,744,340 $1,225,187,085 $1,120,208,353

111,208 Members

21

Locations +3 in schools

to 6 1,726 1,726 Up months

135 135

Deferred delay on (delayed) loan Loans payments Total Balance

Credit Builder Loans

Totaling $76,327

$119,139,579

Built to help establish and improve credit scores

95

Holiday Totaling Loans $127,162 Bringing joy to the holiday season foxcu.org/loans

204

$142,437

Five Five

$1,000

foxcu.org/buying-a-home

Total Loans

members

2

nd June nd Northern Paper Mills Credit Union

Scholarships Awarded to Fox member high school seniors

New Card Controls Lock & unlock your Fox cards with just Taps within our mobile app

2

393

Assisted business members with Cares Act (PPP) Funding Loans may be forgiven, if criteria were met by the Small Business Administration

Small Business BINGO

First Time Homebuyer Loans Average Loan Amount Down Payments as low as 3%

28 Down Payment Assistance

Welcomed NPMCU

3 weeks

Shopping to win prizes and support local small businesses during the holidays

23

Small Business Grants

$1,000

each

For business members impacted by the pandemic

$188,504

Provided to First Time Home Buyers

$127,888 127,888 in Reliable Ride Loans

Helps provide vehicles that fit our members’ needs and with an auto loan payment that works with their lifestyle

BALANCE

253

Auto Loans with the help of our

Auto Buying Service

A free service to help you find your next ride foxcu.org/auto-buyingservice

121 Member Calls

29 Counseling Sessions 2,902 2,902 Webpage Views foxcu.org/balance Free financial articles, calculators, courses and counseling

48

Financial Blog Posts Variety of topics foxcu.org/blogs

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$42,000+ From Individual Donors

Collected

$ 10,861 worth of

$200,000+

Match of funds from local credit unions, including Fox Funds raised help provide struggling families more than half a million meals

hygiene items

More than last year

Fox Staff

Rebuilding Together Project Day Revitalized Local Homes Staff volunteered their time to do essential repairs on three local houses to help the owners safely stay living in their residencies

3

Gathered

100

% from the hearts and creative minds of our staff to help uplift and bring joy to our members and the communities

1,079 Toys

Photo Contest

Many local children were able to open a gift Christmas morning thanks to donations

Every child deserves a warm winter coat

$50,000 Donated

Staff Volunteer Hours Fox VIRTUAL Holiday Party

$28,440 Donated

5

All displays were

New Annual

1,140 Coats Collected 1,012

Branch windows were decorated with paper hearts

Collected 486 Photos

Our members mean so much to us - that is why we have featured them within our calendar, marketing and on the cover of this report

Even though the event was canceled, many riders chose to donate their registration fees to the Foundation instead of being refunded.

Fox provided extra funds to ensure the $50k Fox staff, Board members and retirees bid on silent auction items and entered raffles to raise funds for the Foundation

4 of our

Fox Valley locations helped spread holiday cheer with Fox Cities Festival of Light displays

Our purpose

Not-for-profit

Member owned

Serving and educating you, our member

That’s a win-win for you

You are the owner of Fox

We have a big focus on helping each member plan for and obtain their financial goals to make life happen today, tomorrow, and well into the future.

The money we make is invested right back to our members in the form of higher savings rates, lower loan rates, and overall minimal fees.

We are managed by our Board of Directors, elected by our members.

They are responsible for the oversight and final decision-making over the affairs, funds, and records of Fox.

Board of Directors Rich Scott Chairperson

Executive Team Bill Panella Vice Chairperson

Paul Sippl Treasurer

Rasmussen College

Retired: U.S. Venture, Inc.

Jessica Fleek Director

Martin Docter Director

Goodwill Industries

U.S. Venture, Inc.

Krista Draheim Director

Michael Voelker Director

Camille Zizzo Director

Thrivent Financial

Acuity Insurance

Aurora Health Care

Retired: Kerber Rose & Assoc.

Joanne Bogenschutz Secretary Retired: Albany International

Chris Allen President/CEO Terri Green VP Human Resources Cathy Harvath VP Marketing Jenefer Kind VP Internal Operations Kory Kitowski Chief Information Officer Nancy Krahn Chief Retail Officer Adam Landsverk Chief Lending Officer Mitchell Musial General Counsel Niki Schaumberg Chief Financial Officer Dave Thone SVP Member Solutions

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We owe our past, present, and future achievements to our dedicated staff, who now number over 450!

Their wholehearted devotion to our founding principles of being a credit union, who is here not only to serve our members but our communities at large, continues to define us as an organization.

Jackie Johnson Living It Award (recipients) In honor and loving memory of Jackie Johnson (team member: 1984-2017)

With nominations by co-workers, this award is presented to staff who, just like Jackie, have demonstrated leadership, dedication, competence, exceptional performance, excellent service, and a commitment to the community.

Retirements (years)

7

Becca Pouliot Howard Teller Supervisor

Anniversaries (years)

40

33

Greg Hilbert President/CEO

25

Bruce Kotarek Chief Financial Officer

Joan Gerbers De Pere Vault Teller

23

22

20

Joy Mueller Quality Control Representative

Barb LeMere Wisconsin Avenue Teller

Jeff Rufe Investment Manager

17

10

9

Jean Holewinski Member Solutions Officer

Beverly Redman Northland Avenue Teller

Larry Zade Maintenance Technician

Cory DeGrand Lead Systems Support Analyst

30 Lynn Hopfensperger 25 Nikki Baker Cathy Harvath Dave Thone Denise Whiting 20 Jennifer Anklam Cindy Berkhahn Shelbie Cottrill Lisa Hanna April Kallies Nicole Karnopp Scott Malinski Nicole Much Cheryl Smith 10 Tricia Brittenham Monica Campbell Nicki Jerovetz Kim McIntosh Sara Petska Elizabeth Tienor

Locations Fox Cities & Surrounding Area

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.

Federally Insured by NCUA

Appleton

3401 E Calumet Street 2531 Highway Drive (00 & A) 1724 S Lawe Street 610 E Wisconsin Avenue

Kimberly

528 S Washington Street

Neenah

1151 Westowne Drive

Oshkosh

1275 South Drive (Health Institute Grounds) 1870 Oshkosh Avenue (Opening late 2021)

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 1820 Main Street 411 S Military Avenue

Bellevue

2521 Steffens Court

De Pere

515 Redbird Circle

Howard

2525 Lineville Road

Luxemburg

106 N Main Street

Pulaski

1061 Corporate Way

E ST. 1937