annual report - marine credit union

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2015A N N U A LR E P O R TCONSISTENT COMMITMENT

GROWING IMPACT

MARINE CREDIT UNION ANNUAL REPORT 2015

more than a credit score.TREAT OUR MEMBERS AS

OUR TRUE PURPOSE IS helping people .

OUR STRATEGY IS TO

- Shawn. L Hanson, CEO

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MESSAGE FROM THE CHAIRMAN

Your Board of Directors remains committed to “serving the underserved.” The management team and staff of Marine Credit Union have helped us

realize that goal through the consistent strong financial performance of the credit union. Highlights of the past year include:

• We produced record loan and asset growth, proving the need for our services is real.

• We achieved our fifth consecutive record year of net income.• We granted nearly $84 million in non-conforming real estate loans to

borrowers who do not qualify for conventional financing – a 40% increase over 2015.

• We merged with United Service Community Credit Union of Iowa, welcoming 4,000 members to our family.

This business is about so much more than financial performance, though. What really matters are the people. We’re opening new offices and creating jobs, advancing the careers of our employees, extending credit where it’s needed most and giving back through the work of our Foundation.

Your Board of Directors is proud of these accomplishments and grateful to our staff for their dedication and consistency in delivering them. The hard work we’re doing today will ensure access to credit for generations to come.

Thank you for your ongoing support.

Richard SwantzChairman of the Board

Pictured on this page are the bluffs of the Coulee Region surrounding La Crosse, Wis. These hills that border the Mississippi River climb to nearly 600 feet. Marine’s history in the La Crosse community dates back to 1934, when La Crosse Teachers Credit Union was chartered.

Your Board of Directors remains committed to “serving the underserved” ... the hard work we’re doing today will ensure access to credit for generations to come.

- Richard Swantz,Chairman of the Board


The past year was another successful one for your credit union. Thanks to your support and the commitment of our Board and staff, we continue to perform at a high level, achieving more success with each passing year.

Our strategy is to treat our members as “more than a credit score.” The response to this strategy has been overwhelming, and the need has never been greater. As consolidation in the financial services industry continues, ever-larger providers seem to be ever less interested in helping those that truly need our help. We believe credit unions were organized to serve this niche, and Marine Credit Union is still committed to it.

We continue to grow at an exceptional rate, creating access to credit for our members and opportunities for our staff to advance their careers:

• Our staffing increased from 331 to 399 last year.• We now have over 100 loan officers.• We welcomed the members of United Service Community Credit Union

of West Des Moines, Iowa through a merger.• We opened three new offices in 2015 and have plans for at least six more

in 2016.

This growth doesn’t distract us from our true purpose – helping people. We live that purpose by treating every member as an individual – not a number, by giving back through the Marine Credit Union Foundation and by paying attention to the career goals of our talented employees.

In addition, we continue to invest in technology and processes with the aim to give you easier access to your money and the financial products we offer. However you choose to do business with us, rest assured we appreciate your patronage and look forward to serving your needs for years to come.

Shawn L. HansonCEO

MESSAGE FROM THE CEO

We continue to grow at an exceptional rate, creating access to credit for our members and opportunities for our staff to advance their careers.

- Shawn L. Hanson, CEO

Pictured on this page is the Milwaukee city skyline – named one of the top 15 emerging downtowns by Forbes Magazine (2013). Marine’s history in the Milwaukee community dates back to 1934, when Falk

Community Credit Union was chartered.

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Richard Swantz, Chair

Tom Knothe, Vice Chair

Robert Carney, Secretary

Robert Wolf, Treasurer

Steve Ross, Director

Terry Witzke, Director

William Maas, Advisory Director

William Sacia, Advisory Director

Curt Greeno, Director

BOARD OF DIRECTORS

BOARD SPOTLIGHT

As an attorney and college business school dean, Tom Knothe is seasoned in the complexity of administrative regulations and organizational behavior. When the opportunity arose to join the Marine Credit Union Board of Directors as an Advisory Member in 2007, he saw a learning opportunity.

“At first, I had the misperception that I needed to know the specifics of how a credit union operates,” said Tom, who was born and raised in La Crosse, Wisconsin. He graduated from Viterbo University in La Crosse, attended law school on the west coast, practiced law in San Diego, and moved back to practice law in his hometown, before finding himself back at Viterbo as an educator. Today, he is the Dean of Viterbo’s College of Business and Leadership.

Tom has committed almost a decade of service to Marine as an Advisory Member, Committee Member and now, Vice Chair of the Board. He has developed a new level of financial knowledge through a host of formal and informal learning opportunities in his position with the credit union.

“The Board’s work is less about the complex operations of the credit union and more about the direction it is headed. The other directors and I share the same vision and passion for this work; for moving Marine forward.”

We [the Board of Directors] share the same vision and passion for this work; for moving Marine forward.

- Tom Knothe, Vice Chair


TREASURER’S REPORT

AUDIT REPORT

Marine Credit Union had another strong year in 2015. Loan growth of $62,305,753 fueled asset growth of 16.92% to $625,381,685.

The Wisconsin Department of Financial Institutions and the National Credit Union Administration receive detailed financial information from Marine Credit Union on a quarterly basis. The net worth to asset ratio is used to measure strength and stability. Your credit union’s net worth to asset ratio is 10.54% for the year ended December 31, 2015 and is deemed “Well Capitalized.”

The enclosed financial statements are summarized from the complete financial statements of Marine Credit Union.

Robert WolfTreasurer

The Audit Committee acts independently of management and the Board of Directors and is responsible for maintaining oversight of the credit union’s management and financial records.

To meet these responsibilities, the committee contracted with CliftonLarsonAllen to conduct an independent audit of the consolidated financial statements of Marine Credit Union for the year ended December 31, 2014. The opinion from this audit revealed that the consolidated financial statements were presented fairly with no material findings.

Additional audits, reviews and risk assessments are conducted to monitor operational practices and procedures for effectiveness in safeguarding members’ assets. Any material findings are reported to the Board of Directors.

It is the opinion of this committee that the financial condition of Marine Credit Union remains strong, and internal controls, policies and operations are in compliance with all governmental regulations.

Robert CarneyAudit Committee Chair

Pictured on this page is the Horicon Marsh, which runs through Fond du Lac County, Wis. It is the largest freshwater cattail marsh in the United States. Marrine Credit Union was chartered on November 22, 1949, to

serve the employees of Aeromarine Motor Company in Fond du Lac, which later became Mercury Marine – manufacturer of world class outboard motors.

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FINANCIAL REPORT

BALANCE SHEET

Assets 2011 2012 2013 2014 2015

Cash $48,213,100 $49,210,442 $72,300,764 $79,268,272 $84,474,035

Investments 24,507,099 11,460,951 10,318,604 12,531,630 29,742,543

Consumer Loans 115,695,678 117,004,545 148,529,218 169,196,595 196,657,241

Real Estate Loans 204,815,188 201,558,099 209,388,404 236,290,002 271,135,109

Total Loans 320,510,866 318,562,644 357,917,622 405,486,597 467,792,350

Allowance for Loan Loss (9,346,654) (6,089,701) (6,625,808) (6,530,733) (5,844,080)

Other Assets 42,148,299 41,439,928 40,474,318 44,141,837 49,216,837

Total Assets $426,032,710 $414,584,264 $474,385,500 $534,897,603 $625,381,685

Liability & Equity

Member Savings $368,506,559 $340,901,125 $351,852,847 $350,461,815 $412,734,599

Borrowings 6,662,388 27,173,588 69,704,586 124,327,601 138,644,851

Other Liabilities 16,846,887 7,504,430 6,882,788 5,094,063 8,066,413

Member Equity 34,016,876 39,005,121 45,945,279 55,014,124 65,935,822

Total Liabilities & Equity $426,032,710 $414,584,264 $474,385,500 $534,897,603 $625,381,685

INCOME STATEMENT

2011 2012 2013 2014 2015

Loan Income $23,374,502 $20,962,547 $22,700,831 $25,699,680 $31,311,612

Investment Income 157,944 218,852 164,956 220,243 278,479

Total Interest Income $23,532,446 $21,181,399 $22,865,787 $25,919,923 $31,590,091

Dividend Expense $2,996,313 $1,747,223 $1,390,069 $1,209,005 $1,169,691

Interest Paid on Borrowed Money 290,185 319,946 355,058 426,582 458,300

Net Interest Margin 20,245,948 19,114,230 21,120,660 24,284,336 29,962,100

Provision for Loan Loss 2,575,293 599,500 2,435,396 2,692,803 2,403,108

Net Interest Margin after PLL $17,670,655 $18,514,730 $18,685,264 $21,591,533 $27,558,992

Operating Expense $26,199,656 $27,806,686 $28,852,217 $29,689,407 $34,430,540

Fee & Other Operating Income 13,782,602 15,251,107 15,631,752 16,344,664 16,253,007

Non Operating Income 0 481,162 0 0 0

Gain (Loss) on Sale of Assets (458,069) (1,254,996) (56,375) (227,158) (26,700)

NCUA Stabilization Expense 922,396 326,704 288,378 0 0

Net Income $3,873,136 $4,858,613 $5,120,046 $8,019,632 $9,354,759

MEMBER LOANS (in millions)

2011 2012 2013 2014 2015

$320

,510

,866

$318

,562

,644

$357

,917

,622

$405

,486

,597

$467

,792

,350

LOANS GRANTED (in millions)

2011 2012 2013 2014 2015

$190

,243

,114

$288

,397

,615

$296

,052

,659

$275

,724

,693

$349

,520

,086

NET CHARGE-OFF as a % of loans

2011 2012 2013 2014 2015

1.35

%

0.65

%

0.60

%

0.76

%

0.70

%


Sitting about 10 years away from retirement, Mary Jo Healey was the CEO of a small credit union who found herself facing big hurdles. From changes in credit union regulations to demands for better products and better technology from members, Mary Jo knew she was up against a lot.

“I was leading a $40 million dollar credit union with seven employees,” said Mary Jo, former CEO of United Service Community Credit Union. She operated one branch in West Des Moines, Iowa. “As I looked on the horizon for myself, for my team and the members of our credit union, I saw challenges coming. Challenges that required resources difficult for a small credit union to secure.”

A well-timed letter and subsequent visits from Shawn Hanson, CEO of Marine Credit Union, changed everything. United Service Community Credit Union merged with Marine on November 30, 2015.

“I was impressed. Impressed with the organization’s mission and goals, which were so similar to those of our credit union: the philosophy of people helping people. Impressed with Marine’s educational focus on helping members improve their credit scores and their lives. The knowledge and motivation of the team at Marine made a difficult decision easier.”

Mary Jo, who is now Market Manager of the Des Moines region for Marine, continues to work out of the branch on 9th Street in West Des Moines with the same seven employees serving the same membership they did as United Service – but with more stability, support and an excitement for what’s on the horizon.

“I want the other credit unions to take notice of what we are doing at Marine,” said Mary Jo, whose outlook is now much different than it was just two years ago. “We are ready to make a real impact in Des Moines and across the state.”

GROWTH THROUGH MERGERS

I was impressed. Impressed with [Marine Credit Union’s] mission and goals ... so similar to those of our credit union: the philosophy of people helping people.

- Mary Jo Healey, Market Manager& Former CEO of United Service

Community Credit Union

Pictured on this page is the Iowa State Capitol building overlooking the West Capitol Terrace and downtown Des Moines. Marine joined the Des Moines community in 2015 through its merger with United Service

Community Credit Union.

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Every time Marine Credit Union enters a new market through a merger, we increase jobs and annual compensation. Marine is committed to the communities we serve, and these statistics underscore the value we deliver. Here’s a look at the number of jobs and annual compensation before a merger with Marine Credit Union and today.

2$46K

20$940K

98$4.5M

43$3.4M 8

$401K

6$295K

6$337K

13$609K

80$2.8M

15$766K

1$25K

4$160K

2$80K

7$246K

TODAYBEFOREMERGER

JOBSCOMPENSATION

(Pay + benefits)

PETERSON

EAU CLAIRE

LA CROSSE

GREEN BAY

FOND DULAC

MILWAUKEE

DECORAH

GROWTH THROUGH MERGERS

THE IMPACT OF MARINE CREDIT UNION


In 2015, Marine Credit Union granted $349.5 million in loans. We are proud to make loans to borrowers who may be turned away by other lenders. Our goal is to engage people, giving them hope that there is a financial institution where they are more than a credit score. We want to help them succeed. We want to understand who they are and what challenges they face, rather than basing our relationship on a number. The stories on these pages are examples of what we do every single day.

Tim CrucianiExecutive Vice President

The Cottingham family just needed a break. Cheryl Cottingham, a Colorado native, was working in the medical field while attending additional schooling. Her husband, Roger, was battling surgery complications and couldn’t find employment. To top it off, they needed a new car, but couldn’t find a bank to give them a chance, given their situation.

“A co-worker recommended Marine. I kept thinking, ‘They’re going to say no.’ But they approved us – and it was easy! The whole process took maybe two days,” said Cheryl, who worked with the team at the Eau Claire branch.

The couple later moved out to Colorado for Cheryl’s job, where they had lived previously, prior to moving to Eau Claire. Their MCU loan was on auto withdrawal, their credit was steadily rebuilding, and Cheryl was even reunited with her son after some years apart. But just as life’s path looked upward for the Cottinghams, Cheryl’s son soon fell on challenging times. A medical accident put him into reconstructive surgery and out of work. The family needed financial help.

It was a long shot from thousands of miles away, but Cheryl tried Marine again. “I talked to Andrew in the Eau Claire office and explained our situation. Andrew used technology to make communication quick and easy – text messages, emails – he was on it. We went back and forth with ideas on how Marine could help us. He told me he would figure out a way to make something work, and he built a lot of trust.”

Marine helped the Cottinghams’ son get back on his feet, and the family is once again looking forward with hope. “From thousands of miles away, Andrew got us the help we needed through Marine – again. It was a game-changer for my son, and for us.”

From thousands of miles away, Andrew got us the help we needed through Marine... again. It was a game-changer for my son, and for us.

- Cheryl (and Roger) Cottingham, assisted by Andrew Balthazor,

MCU Eau Claire

CHERYL & ROGER COTTINGHAMDURANGO, COLORADO

GROWTH THROUGH LENDING

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Member Story 2BRUCE & VICKIE MALONEYARCADIA, WISCONSIN

It started with a Harley, took an unexpected turn with a home and will end with a honeymoon. Bruce Maloney was turned down by his small town bank for a motorcycle loan. He had heard Marine Credit Union was different than other banks, so he gave it a shot.

“I met lender Bruce [Todd] in Onalaska. He went above and beyond for me. He got to know me and asked questions to understand what I wanted and needed,” said Bruce.

Marine gave him the loan he was looking for and got him on his Harley. But, because of Bruce Todd’s ability to dig into Bruce and his wife Vicki’s situation, the Maloneys got something else they weren’t even looking for. Bruce Todd was also able to refinance the Maloneys’ home, putting them in an even better financial position.

When asked what he is able to do now that he wasn’t before meeting Bruce Todd and working with Marine, Bruce’s answer was unexpected, but sincere: “Take my wife on a honeymoon. We’ve been married for years, but never could take one because we didn’t have the money. I think we’ll go someplace warm.”

When Frank clicked the “Apply Now” button on the Marine Credit Union website, he expected to be denied again. He had been turned down by several banks before. Frank couldn’t find the help he so desperately needed to pay off medical bills that weren’t going away, so he could get back on track and move forward.

“Marine called me. I came into the branch on 35th Street. I told them I knew I was a long shot,” said Frank. But something very different than what he was used to happened. “The employees in the branch took the time to listen to why I had the challenges that I did. Then they told me they would do whatever they could to help me. They fought for me – and Cheryl approved my loan.”

As someone who had been pushed through the revolving doors of the big banks, Frank was treated with respect. “What a relief it is – a breath of fresh air – to know that there are people and places out there like this that still exist. At no time did I feel judged or unimportant because I didn’t have the most money or best credit score. Marine went above and beyond for me.”

[Bruce] went above and beyond for me. He got to know me and asked questions to understand what I wanted and needed.

- Bruce (and Nicki) Maloney, assisted by Bruce Todd, MCU Onalaska

(far right)

They told me they would do whatever they could to help me. They fought for me.

- Frank Marchese, assisted by Cheryl Rogers, MCU Milwaukee

35th Street (far right)

FRANK MARCHESEMILWAUKEE, WISCONSIN


GROWTH THROUGH PEOPLE

Relocation goes a long way toward career progression and achieveing the things you want to here at Marine.

- Ken Brossman, VP and District Manager, MCU La Crosse

KEN BROSSMANVICE PRESIDENT & DISTRICT MANAGER, LA CROSSE

Ken Brossman is a prime example of the career progression possible at Marine Credit Union. In five short years, he has managed three of the credit union’s branches and been promoted to Vice President and La Crosse District Manager. His secret to a successful career? It’s really not a secret – rather, it’s a recipe that everyone in the organization has access to.

Adaptability + success + hard work = career progression. “You come in, you work hard. Our company rewards us for working hard and being coachable. Relocation goes a long way toward career progression and achieving the things you want to achieve here at Marine,” said Ken, who joined Marine in Milwaukee, relocated to Fond du Lac, and is now located in La Crosse.

Ken and his wife reside in Holmen with their two boys. He recalls their transition from Fond du Lac to La Crosse fondly. They embraced their new community with open arms, volunteering to coach his boys’ sports teams, which Ken still does today.

Branches and districts have flourished under Ken’s leadership, but his proudest achievements are more human. “The most fulfilling thing is seeing the career advancement of the team members I’ve worked with,” said Ken, who has mentored employees into Branch and District Managers themselves. “It’s very rewarding seeing people that I’ve hired as Consumer Loan Officers now running their own branches and having successful careers here at Marine.”

ANNUAL EMPLOYEE GROWTH2011-2015

2011 2012 2013 2014 2015

277

311

309

331

399

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My wife can stay home and raise our son because Marine provides a good income, benefits and stability.

- Roque Arellano, Senior Contact Center Representative,

MCU Fond du Lac - Wisconsin American Drive

I get to sit down with people from all walks of life and talk to them every day.

- Sara Griffin, Consumer Loan Officer, MCU Eau Claire

ROQUE ARELLANOSENIOR CONTACT CENTER REPRESENTATIVE

SARA GRIFFINCONSUMER LOAN OFFICER

If ever there was a true Renaissance Man at Marine Credit Union, Roque Arellano would be it. An avid drummer and vocalist, versed in multiple languages, philanthropist, husband and father, Roque pulls from life the best that it has to offer. That’s why having a career that can complement the rest of his life is so important.

He joined Marine in 2008 as a Member Service Representative after a string of jobs in the food service industry. Leaving the companies that offered him little security for an employer that was willing to invest in him was life-changing for Roque.

“At the time, I wasn’t married and didn’t have a family, but I knew I wanted to,” said Roque, who now has a one-year-old son, Rafael, with his wife, Jamie. “My wife can stay home and raise our son because Marine provides a good income, benefits and stability. Working at Marnie allows me to balance my work and family life in a way I would never have been able to do at previous jobs.”

Roque worked in Fond du Lac at the Rees Street and Wisconsin American Drive locations before being promoted to a Contact Center Representative in 2014. He was promoted to Senior Contact Center Representative in 2015. “I’m really happy with what I am doing here at Marine,” said Roque. “I’ve found a career, not just a job. I’ve found my niche.”

There are few people who work with the commitment and the selflessness of Sara Griffin. Her belief in the mission of Marine Credit Union and willingness to serve her members and her team have made her a “go-to” source of knowledge across the credit union.

Sara was working as a Deposit Manager for MET Credit Union when it merged with Marine in 2013. She transitioned to the role of Consumer Loan Officer in April 2013 and quickly earned the respect of her new colleagues. “Shortly after I started at Marine, I was asked to join the project team that would be replacing the credit union’s lending platform,” said Sara, who had past experience with similar system changes. Her knowledge and perspective was invaluable to the change that took place later that year. Sara has helped roll out Marine’s Mobile application, is testing new loan origination software and has provided feedback on numerous other projects.

“No matter what you do, you can choose to either learn something new, or you can get stuck,” said Sara, who also worked as a loan officer before joining MET. “I’ve enjoyed getting back to my lending roots. I get to sit down with people from all walks of life and talk to them every day – whether it’s getting them something they want, or helping them figure out a solution to an issue.”


GROWTH THROUGH EDUCATION

You are more than a credit score. But that doesn’t mean you shouldn’t understand it.

Marine Credit Union bases its lending decisions on our members’ individual circumstances. However, we are so much more to our members than just a credit union or just a lender. We are helping our members realize the goals they walk into our branches with and those they may not have thought they could reach.

As we sit down and get to know the person in front of our loan desk or learn more about the person in front of our teller line, it’s a purposefully interactive process. We want our members to conquer the challenge that brought them in and give them the tools to prevent future challenges. With our Balance Education learning system modules, members can learn about budgeting, home ownership, identity theft protection and more – for free. With products like Credit Builder Checking, members who have previously been turned down for a checking account can begin to establish finances.

Marine takes accountability for the financial education of our members, because we believe each person has the right to a brighter future.

We want our members to conquer the challenge that brought them in and give them the tools to prevent future challenges.

At Marine Credit Union, we put education first. It shows in our long tradition of assisting members in their pursuit of higher education.

Marine scholarships help students achieve their educational goals. We offer five (5) $1,000 general scholarships, one (1) $1,000 Ranger Credit Union scholarship for current Logan High School student members and one (1) $1,000 employee scholarship.

Marine Credit Union is deeply rooted in the value of education. We embrace opportunities that help build and support education aspirations through apprenticeship and internship programs, scholarships and financial literacy projects.

MARINE SCHOLARSHIP PROGRAM

2015 Employee Scholarship Winner:Emily Culligan, daughter of Kris Culligan,

MCU Loan Servicing

A-T CHILDREN’S PROJECT, ADOPT A FAMILY, ALZHEIMER’S ASSOCIATION, AMERICAN CANCER SOCIETY, AMERICAN CANCER SOCIETY - HULA HUSTLE,

AMERICAN CANCER SOCIETY - RELAY FOR LIFE, AMERICAN HEART ASSOCIATION, AMERICAN LEGION POST 18, ARTWORKS FOR MILWAUKEE, AUDRA’S

ANIMALS, AURORA HEALTH CARE FOUNDATION, AUTHENTIC VOICES OF AMERICA, BACK TO SCHOOL - FDL, BETA UPSILON SIGMA, INC., BIG BLUE DRAG-

ON BOAT FESTIVALS, BIG BROTHERS BIG SISTERS, BIG BROTHERS BIG SISTERS OF FDL COUNTY, BILL HOLLOWAY MEMORIAL GOLF TOURNAMENT, BLACK

KATT ATHLETIC, BLACK KATT RUGBY, BLUFF VALLEY RIDERS SNOWMOBILE CLUB, BOB AND SHIRLEY NEWBERRY, BOYS AND GIRLS CLUB FOND DU LAC,

BOYS AND GIRLS CLUB OF GREATER LA CROSSE, BROADS FOR A CAUSE, CAMP SEND-A-KID, CANCER CRUSADE, CARDINAL SKIPPERS, CATHOLIC CHAR-

ITIES WARMING CENTER, CHASEBURG ROD AND GUN CLUB INC, CHILDREN’S HOSPITAL OF WISCONSIN, CHILDREN’S MUSEUM OF LA CROSSE, CHIPPE-

WA VALLEY FAMILY YMCA, CHRIS STAIGE BENEFIT, CITY OF PETERSON MINNESOTA, CITY OF WAUPUN FOOD PANTY, CLARK COUNTY HUMANE SOCI-

ETY, COMMUNITY CHURCH MOPS, CONSUMER CREDIT COUNSELING SERVICE, COULEE KAMO, COULEE REGION HUMANE SOCIETY, COULEECAP,

CRAWFORD COUNTY K-9 UNIT, CRITTER JUNCTION PET RESCUE, DARE/GREAT OF LA CROSSE, DEVELOPMENT THROUGH ATHLETICS, DOWNTOWN

FOUND DU LAC PARTNERSHIP, EAGLES HEART & CANCER TELETHON, EAU CLAIRE AREA SCHOOL DISTRICT, EAU CLAIRE COMMUNITY FOUNDA-

TION, EAU CLAIRE PUBLIC SCHOOLS FOUNDATION, FAMILY & CHILDREN’S CENTER, FAMILY RESOURCE CENTER, FAMILY VIDEO, FCEDC, FDL ASSO-

CIATION OF COMMERCE GOLF OUTING, FDL COUNTY KENNEL CLUB, FEED MY PEOPLE, FOND DU LAC ASSOCIATION OF COMMERCE, FOND DU LAC

BASEBALL INC., FOND DU LAC HOCKEY BOOSTERS, FOND DU LAC HUMANE SOCIETY, FOND DU LAC POLICE DEPARTMENT, FOND DU LAC SOCCER

ASSOCIATION, FOND DU LAC YMCA, FONDY FOOD PANTRY, FOOD DONATION, FOR GOODNESS SAKES, FOUNDATION FOR R-P SCHOOLS, FOX VAL-

LEY HERP CLUB, FREE SPIRIT RIDERS INC, FREEDOM HONOR FLIGHT, GATEWAY AREA COUNCIL, BSA, GEORGE CARLSON, GIRLS ON THE RUN, GMAR

YOUTH FOUNDATION, GOWDY OUTING - NICCI VANDE ZANDE, GREATER GREEN BAY YMCA, GUNDERSEN MEDICAL FOUNDATION, HABITAT FOR

HUMANITY-LA CROSSE AREA, HABITAT FOR HUMANITY-RAISE THE ROOF, HAPPILY EVER AFTER ANIMAL SANCTUARY, HEAD START & FAMILY SER-

VICES, HELPING SERVICES FOR NORTHEAST IOWA, HMONG MUTUAL ASSISTANCE ASSOCIATION, HOLMEN AREA FOUNDATION, HOLMEN ATHLETIC

BOOSTER CLUB, HOLMEN YOUTH BASEBALL ASSOCIATION INC, HOMELESS HOUNDS, HOPE HOUSE OF MILWAUKEE, INC, HUNGER TASK FORCE OF

LA CROSSE, INDEPENDENT LIVING RESOURCES, IT MAKE$ CENTS, JEAN DAYE, JUNIOR ACHIEVEMENT OF WISCONISN, JUNIOR LIVESTOCK AUCTION

COMMITTEE, JUVENILE DIABETES RESEARCH FOUNDATION, KICKIN’ FOR KEVIN, KIMBERLY SANDERS-ADOPT A RESIDENT, LA CROSSE AREA AUTISM

FOUNDATION, LA CROSSE AREA CHAMBER OF COMMERCE, LA CROSSE COMMUNITY FUND, LA CROSSE COMMUNITY THANKSGIVING, LA CROSSE

COUNTY AGING UNIT, LA CROSSE COUNTY HUMAN SERVICES, LA CROSSE COUNTY LIBRARY, LA CROSSE FESTIVALS, INC, LA CROSSE FOSTER CARE, LA

CROSSE LIONS CHARITIES INC., LA CROSSE PUBLIC EDUCATION FOUNDATION, LA CROSSE SYMPHONY ORCHESTRA, LACROSSE COUNTY HUMAN SER-

VICES, LACROSSE JAYCEES FOUNDATION, LAURA FINSETH SCOTT SCHOLARSHIP FUND, LIFE ENFOREMENT, LINDA EMANUEL - BLANKETS FOR NEW

BEGINNINGS, LITERACY VOLUNTEERS, LOGAN BOOSTER CLUB, LOGAN BOYS BASKETBALL, LOGAN HIGH SCHOOL, LOGAN MIDDLE SCHOOL, LOVE FOR

LINDEY, LUTHERAN SOCIAL SERVICES-URBAN THREADS, MABEL-CANTON SCHOOL, MAKE-A-WISH GOLF EVENT, MAR MAC FRIENDS HELPING FRIENDS,

MARINE TOYS FOR TOTS FOUNDATION, MARSHALL BASKETBALL ASSOCIATION, MEDINA COMMUNITY SOCCER LEAGUE, MELISSA SCHLEE, MICHAEL

BAY BENEFIT, MILLER QUICK PRINT, MILWAUKEE RESCUE MISSION, MISS WISCONSIN, MOBILE MEALS OF LA CROSSE, INC, N.E.W PAWSABILITIES, NAMI

OSHKOSH INC, NATIONAL WILD TURKEY FEDERATION, NEW HORIZONS SHELTER INC., NFDL OPTIMIST CLUB, NOON KIWANIS OF FOND DU LAC, NORTH

FOND DU LAC POLICE BENEVOLENT FUND, NORTH FOND DU LAC TOUCHDOWN CLUB, OLD GLORY HONOR FLIGHT, ONALASKA PARK AND RECRE-

ATION, OSHKOSH FLYERS, OSHKOSH YMCA, PARALYZED VETERANS OF AMERICA, PAWS 4 INDEPENDENCE, PDC PARKS AND RECREATION DEPARTMENT,

PIRATE YOUTH BASEBALL CLUB, PLACING BETS FOR AUDRA’S PETS, R-P COMMUNITY EDUCATION, R-P SENIORS GIVE BACK, RANGER RALLY GOLF ROLE

SPONSORSHIP, RIPON CHAMBER OF COMMERCE, RIVERFRONT FOUNDATION, ROBERT STUCKEY, ROCKETSHIP SOUTHSIDE COMMUNITY PROGRAM, RON-

ALD MCDONALD HOUSE, RONALD MCDONALD HOUSE OF ROCHESTER, ROOF TOP FOUNDATION, ROTARY WORKS FOUNDATION, RP VALLEY CHAMBER

OF COMMERCE, RUSHFORD FIRE DEPARTMENT, SALUTE THE TROOPS, SALVATION ARMY - FEED THE KIDS, SAM HOLMES FAMILY SCHOLARSHIP FUND,

SCHOOL DISTRICT OF NORTH FOND DU LAC, SENIOR DINING SUN SHINE FUND, SHANNON RIEBE, SHEBOYGAN COUNTY CHAMBER OF COMMERCE,

SOLUTIONS CENTER, SPARTA AREA CANCER SUPPORT, SPECIAL OLYMPICS & RECREATION, SPECIAL OLYMPICS OF WISCONSIN, SPILLMAN LIBRARY, ST.

FERIOLE ISLAND GARDENS, TAYLOR BROWN, THANKSGIVING DINER SPONSORSHIP, THANKSGIVING DONATION, THE AMERICAN RED CROSS, THE ARC

OF DODGE COUNTY, THE CHARITY CLUB, THE COMMUNITY TABLE, THE ORIOLE OPEN, THE PARENTING PLACE, THE POLAR PLUNGE, THE SALVATION

ARMY, TITLETOWN SELECT BASEBALL, TOM WHIRRY, TOYS FOR TOTS, TREG FOUNDATION, TROOP SUPPORT PACKAGE, UNITED FUND FOR THE ARTS

AND HUMANITITES, UNITED WAY OF WINNESHIEK COUNTY, UW LA CROSSE SELF-SUFFICIENCY PROGRAM, UW-L FOUNDATION, VALLEY VIEW ROTA-

RY, VIKING CLASSIC, VITERBO GOLF SCRAMBLE, WAUKESHA NORTH GIRLS BASKETBALL, WAUKON FIRE DEPARTMENT, WAUPUN AREA ANIMAL SHEL-

TER, WAUPUN AREA ANIMAL SHELTER, WAUPUN AREA HIGH SCHOOL, WAUPUN ATHLETIC BOOSTER CLUB, WAUPUN DRIFT JUMPERS, WAUPUN FESTI-

VALS, INC., WAUPUN JUNIOR/SENIOR HIGH SCHOOL, WAUPUN LITTLE LEAGUE, WAUPUN VOLKSFEST, WAUZEKA-STEUBEN SCHOOL DISTRICT, WEBER

CENTER FOR THE PREFORMING ARTS, WEST HIGH MUSIC PROGRAM, WEST SALEM BOYS AND GIRLS CLUB, WHISPER HILL CLYDESDALES, WINNESHIEK

COUNTY CLOVER CLUB, WINNESHIEK COUNTY FAIR, WINNESHIEK COUNTY FOOD PANTRY, WINNESHIEK FIREMAN’S BULL BASH, WINONA AREA HU-

MANE SOCIETY, WISCONSIN FOOTBALL COACHES ASSOCIATION, WOMAN’S CLOTHES CLOSET, YWCA LA CROSSE, ZIMMERMAN SCHOLARSHIP FUND

15

A-T CHILDREN’S PROJECT, ADOPT A FAMILY, ALZHEIMER’S ASSOCIATION, AMERICAN CANCER SOCIETY, AMERICAN CANCER SOCIETY - HULA HUSTLE,

AMERICAN CANCER SOCIETY - RELAY FOR LIFE, AMERICAN HEART ASSOCIATION, AMERICAN LEGION POST 18, ARTWORKS FOR MILWAUKEE, AUDRA’S

ANIMALS, AURORA HEALTH CARE FOUNDATION, AUTHENTIC VOICES OF AMERICA, BACK TO SCHOOL - FDL, BETA UPSILON SIGMA, INC., BIG BLUE DRAG-

ON BOAT FESTIVALS, BIG BROTHERS BIG SISTERS, BIG BROTHERS BIG SISTERS OF FDL COUNTY, BILL HOLLOWAY MEMORIAL GOLF TOURNAMENT, BLACK

KATT ATHLETIC, BLACK KATT RUGBY, BLUFF VALLEY RIDERS SNOWMOBILE CLUB, BOB AND SHIRLEY NEWBERRY, BOYS AND GIRLS CLUB FOND DU LAC,

BOYS AND GIRLS CLUB OF GREATER LA CROSSE, BROADS FOR A CAUSE, CAMP SEND-A-KID, CANCER CRUSADE, CARDINAL SKIPPERS, CATHOLIC CHAR-

ITIES WARMING CENTER, CHASEBURG ROD AND GUN CLUB INC, CHILDREN’S HOSPITAL OF WISCONSIN, CHILDREN’S MUSEUM OF LA CROSSE, CHIPPE-

WA VALLEY FAMILY YMCA, CHRIS STAIGE BENEFIT, CITY OF PETERSON MINNESOTA, CITY OF WAUPUN FOOD PANTY, CLARK COUNTY HUMANE SOCI-

ETY, COMMUNITY CHURCH MOPS, CONSUMER CREDIT COUNSELING SERVICE, COULEE KAMO, COULEE REGION HUMANE SOCIETY, COULEECAP,

CRAWFORD COUNTY K-9 UNIT, CRITTER JUNCTION PET RESCUE, DARE/GREAT OF LA CROSSE, DEVELOPMENT THROUGH ATHLETICS, DOWNTOWN

FOUND DU LAC PARTNERSHIP, EAGLES HEART & CANCER TELETHON, EAU CLAIRE AREA SCHOOL DISTRICT, EAU CLAIRE COMMUNITY FOUNDA-

TION, EAU CLAIRE PUBLIC SCHOOLS FOUNDATION, FAMILY & CHILDREN’S CENTER, FAMILY RESOURCE CENTER, FAMILY VIDEO, FCEDC, FDL ASSO-

CIATION OF COMMERCE GOLF OUTING, FDL COUNTY KENNEL CLUB, FEED MY PEOPLE, FOND DU LAC ASSOCIATION OF COMMERCE, FOND DU LAC

BASEBALL INC., FOND DU LAC HOCKEY BOOSTERS, FOND DU LAC HUMANE SOCIETY, FOND DU LAC POLICE DEPARTMENT, FOND DU LAC SOCCER

ASSOCIATION, FOND DU LAC YMCA, FONDY FOOD PANTRY, FOOD DONATION, FOR GOODNESS SAKES, FOUNDATION FOR R-P SCHOOLS, FOX VAL-

LEY HERP CLUB, FREE SPIRIT RIDERS INC, FREEDOM HONOR FLIGHT, GATEWAY AREA COUNCIL, BSA, GEORGE CARLSON, GIRLS ON THE RUN, GMAR

YOUTH FOUNDATION, GOWDY OUTING - NICCI VANDE ZANDE, GREATER GREEN BAY YMCA, GUNDERSEN MEDICAL FOUNDATION, HABITAT FOR

HUMANITY-LA CROSSE AREA, HABITAT FOR HUMANITY-RAISE THE ROOF, HAPPILY EVER AFTER ANIMAL SANCTUARY, HEAD START & FAMILY SER-

VICES, HELPING SERVICES FOR NORTHEAST IOWA, HMONG MUTUAL ASSISTANCE ASSOCIATION, HOLMEN AREA FOUNDATION, HOLMEN ATHLETIC

BOOSTER CLUB, HOLMEN YOUTH BASEBALL ASSOCIATION INC, HOMELESS HOUNDS, HOPE HOUSE OF MILWAUKEE, INC, HUNGER TASK FORCE OF

LA CROSSE, INDEPENDENT LIVING RESOURCES, IT MAKE$ CENTS, JEAN DAYE, JUNIOR ACHIEVEMENT OF WISCONISN, JUNIOR LIVESTOCK AUCTION

COMMITTEE, JUVENILE DIABETES RESEARCH FOUNDATION, KICKIN’ FOR KEVIN, KIMBERLY SANDERS-ADOPT A RESIDENT, LA CROSSE AREA AUTISM

FOUNDATION, LA CROSSE AREA CHAMBER OF COMMERCE, LA CROSSE COMMUNITY FUND, LA CROSSE COMMUNITY THANKSGIVING, LA CROSSE

COUNTY AGING UNIT, LA CROSSE COUNTY HUMAN SERVICES, LA CROSSE COUNTY LIBRARY, LA CROSSE FESTIVALS, INC, LA CROSSE FOSTER CARE, LA

CROSSE LIONS CHARITIES INC., LA CROSSE PUBLIC EDUCATION FOUNDATION, LA CROSSE SYMPHONY ORCHESTRA, LACROSSE COUNTY HUMAN SER-

VICES, LACROSSE JAYCEES FOUNDATION, LAURA FINSETH SCOTT SCHOLARSHIP FUND, LIFE ENFOREMENT, LINDA EMANUEL - BLANKETS FOR NEW

BEGINNINGS, LITERACY VOLUNTEERS, LOGAN BOOSTER CLUB, LOGAN BOYS BASKETBALL, LOGAN HIGH SCHOOL, LOGAN MIDDLE SCHOOL, LOVE FOR

LINDEY, LUTHERAN SOCIAL SERVICES-URBAN THREADS, MABEL-CANTON SCHOOL, MAKE-A-WISH GOLF EVENT, MAR MAC FRIENDS HELPING FRIENDS,

MARINE TOYS FOR TOTS FOUNDATION, MARSHALL BASKETBALL ASSOCIATION, MEDINA COMMUNITY SOCCER LEAGUE, MELISSA SCHLEE, MICHAEL

BAY BENEFIT, MILLER QUICK PRINT, MILWAUKEE RESCUE MISSION, MISS WISCONSIN, MOBILE MEALS OF LA CROSSE, INC, N.E.W PAWSABILITIES, NAMI

OSHKOSH INC, NATIONAL WILD TURKEY FEDERATION, NEW HORIZONS SHELTER INC., NFDL OPTIMIST CLUB, NOON KIWANIS OF FOND DU LAC, NORTH

FOND DU LAC POLICE BENEVOLENT FUND, NORTH FOND DU LAC TOUCHDOWN CLUB, OLD GLORY HONOR FLIGHT, ONALASKA PARK AND RECRE-

ATION, OSHKOSH FLYERS, OSHKOSH YMCA, PARALYZED VETERANS OF AMERICA, PAWS 4 INDEPENDENCE, PDC PARKS AND RECREATION DEPARTMENT,

PIRATE YOUTH BASEBALL CLUB, PLACING BETS FOR AUDRA’S PETS, R-P COMMUNITY EDUCATION, R-P SENIORS GIVE BACK, RANGER RALLY GOLF ROLE

SPONSORSHIP, RIPON CHAMBER OF COMMERCE, RIVERFRONT FOUNDATION, ROBERT STUCKEY, ROCKETSHIP SOUTHSIDE COMMUNITY PROGRAM, RON-

ALD MCDONALD HOUSE, RONALD MCDONALD HOUSE OF ROCHESTER, ROOF TOP FOUNDATION, ROTARY WORKS FOUNDATION, RP VALLEY CHAMBER

OF COMMERCE, RUSHFORD FIRE DEPARTMENT, SALUTE THE TROOPS, SALVATION ARMY - FEED THE KIDS, SAM HOLMES FAMILY SCHOLARSHIP FUND,

SCHOOL DISTRICT OF NORTH FOND DU LAC, SENIOR DINING SUN SHINE FUND, SHANNON RIEBE, SHEBOYGAN COUNTY CHAMBER OF COMMERCE,

SOLUTIONS CENTER, SPARTA AREA CANCER SUPPORT, SPECIAL OLYMPICS & RECREATION, SPECIAL OLYMPICS OF WISCONSIN, SPILLMAN LIBRARY, ST.

FERIOLE ISLAND GARDENS, TAYLOR BROWN, THANKSGIVING DINER SPONSORSHIP, THANKSGIVING DONATION, THE AMERICAN RED CROSS, THE ARC

OF DODGE COUNTY, THE CHARITY CLUB, THE COMMUNITY TABLE, THE ORIOLE OPEN, THE PARENTING PLACE, THE POLAR PLUNGE, THE SALVATION

ARMY, TITLETOWN SELECT BASEBALL, TOM WHIRRY, TOYS FOR TOTS, TREG FOUNDATION, TROOP SUPPORT PACKAGE, UNITED FUND FOR THE ARTS

AND HUMANITITES, UNITED WAY OF WINNESHIEK COUNTY, UW LA CROSSE SELF-SUFFICIENCY PROGRAM, UW-L FOUNDATION, VALLEY VIEW ROTA-

RY, VIKING CLASSIC, VITERBO GOLF SCRAMBLE, WAUKESHA NORTH GIRLS BASKETBALL, WAUKON FIRE DEPARTMENT, WAUPUN AREA ANIMAL SHEL-

TER, WAUPUN AREA ANIMAL SHELTER, WAUPUN AREA HIGH SCHOOL, WAUPUN ATHLETIC BOOSTER CLUB, WAUPUN DRIFT JUMPERS, WAUPUN FESTI-

VALS, INC., WAUPUN JUNIOR/SENIOR HIGH SCHOOL, WAUPUN LITTLE LEAGUE, WAUPUN VOLKSFEST, WAUZEKA-STEUBEN SCHOOL DISTRICT, WEBER

CENTER FOR THE PREFORMING ARTS, WEST HIGH MUSIC PROGRAM, WEST SALEM BOYS AND GIRLS CLUB, WHISPER HILL CLYDESDALES, WINNESHIEK

COUNTY CLOVER CLUB, WINNESHIEK COUNTY FAIR, WINNESHIEK COUNTY FOOD PANTRY, WINNESHIEK FIREMAN’S BULL BASH, WINONA AREA HU-

MANE SOCIETY, WISCONSIN FOOTBALL COACHES ASSOCIATION, WOMAN’S CLOTHES CLOSET, YWCA LA CROSSE, ZIMMERMAN SCHOLARSHIP FUND

GROWTH THROUGH COMMUNITY

Marine Credit Union believes a community thrives when all members experience opportunities for growth and stability. The Marine Credit Union Foundation follows these same principles. This non-profit entity is dedicated to making charitble contributions and increasing financial literacy in the communities we call home.

Big Blue Dragon Boat Races - La Crosse

Community Free Sale - Fond du Lac

Back to School Giving - Fond du Lac

Ronald McDonald House Dinner - Milwaukee

Toys for Tots - Eau Claire

200+causes in the

communities we serve received support from the MCU Foundation

2:1 matchMCU donates two

dollars for every dollar contributed by an employee to the

Foundation

70%+of our employees

automatically donate a portion of each

paycheck to the MCU Foundation

$109,000+total donated back into our communities from the MCU Foundation

MCU FOUNDATION BY THE NUMBERS


L O C A T I O N S

annual report - marine credit union

Documents