2023 Member-Owners’ Annual Report
 


At Community First Credit Union, every interaction is an opportunity to empower and enrich the lives of our members. This past year, we've celebrated countless 'moments that matter,' each one reflecting our commitment to your financial well-being. From helping families buy their first homes to supporting entrepreneurs in launching their dreams, your stories inspire every decision we make. Together, we're not just a credit union; we're a community where every moment counts and every member matters.

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Every Moment Matters.

Members like you are why we succeed.

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Finding a way for
Dave & Sandy.
 

It's in the depths of passion that we find ourselves, and for Dave, that passion is woven into the very fabric of his existence. Dave's story is a testament to the resilience of the human spirit, and the unwavering support found in Community First Credit Union. As Dave revives forgotten cars, Community First revitalizes his dreams. Through triumph and adversity, Dave reminds us that every moment counts. Join us in celebrating the indomitable spirit of Dave, and the countless others like him, whose dreams are restored, moments earned, and lives embraced, with Community First by their side.

 
 

 

 

a moment from leadership.

Life is made up of moments, both big and small, that shape our lives and define who we are. From moments that bring us joy, engagement and motivation to those that challenge us with hardship, illness, failure and loss. Transitional moments—getting your first job and paycheck, buying your first car or home, starting a family—and milestone moments like graduations, birthdays, anniversaries and retirement. These moments serve as the building blocks of our journey. Because they matter deeply to you, they matter deeply to us.

At the heart of our mission lies a singular focus: empower our member-owners to achieve financial well-being. Every decision and every action is driven by our unwavering commitment to making a meaningful difference in your lives and the communities you call home – to be there for the moments that matter most to you.

We have much to celebrate as we reflect on 2023. Amidst growing economic challenges generated by inflation and rising federal interest rates, we have emerged stronger and more resilient than ever. Community First has once again been honored with the Raddon Crystal Performance Award, recognizing us as one of the top 10 credit unions in the nation for our financial performance. We are the only institution to have earned this honor for the past 15 consecutive years.

Other notable 2023 achievements included:

  • Increased assets by 7.6% to $5.55 billion, loans by 10.9% to $3.93 billion, shares by 7% to $4.84 billion, and membership to 155,922.
  • Grew net worth to 12.27% (far exceeding the regulatory requirement of 7% to be considered well-capitalized).
  • Prevented $3.62 million in fraud to members.
  • Implemented Netgiver – a no-cost online donation portal for non-profit organizations and their donors.
  • Introduced the Member Claims Portal for faster payment protection, GAP and warranty claims processing.
  • Provided more than $2.35 million in financial support to non-profit, economic development and civic partners in support of our members and the communities they call home. 
  • Volunteered a team-record 24,515 hours.

We’re also excited about the many significant initiatives underway for 2024:

  • A new Cash Back Visa Signature® card
  • Enhanced online borrowing experience
  • Digital issuance of credit and debit cards
  • Small business lending enhancements and Treasury Management services
  • Reimagining our website
  • New deposit and checking products
  • Partnership with Family Insurance Center, offering members expanded insurance products and services
  • New branches planned for Seymour, Ledgeview, Wrightstown and Manitowoc

Our people remain our most valuable asset in serving Community First member-owners. Our volunteer board commits their time and talent to provide strategic direction and oversight on your behalf, while our 600+ employees work diligently every day to create more value for you. Witnessing the differences we can make for you inspires us.

We are more than just a financial institution; we’re a member-owned cooperative, and members are at the center of all we do.

Our consistent growth and strong financial performance are reflected in the numbers and the moments they represent. But even more important are the thousands of lives that have been made better because of the shared values and understanding of what can be accomplished through the power of the cooperative – people helping people for the individual and collective good of everyone involved.

Community First is here for all the moments that matter in your life. Together, we will write the next chapter of our story, guided by our shared focus and unwavering determination to find a way!

 

Catherine Tierney, President & CEO
Sara Micheletti, Board Chair

 

 

your board of directors

As the financial services industry has dramatically evolved over the years, so has the role of the board. Today, your board is entrusted with the direction of Community First and the complexities that come with oversight for a multi-billion dollar organization. Community First Credit Union’s Board of Directors is an extremely committed group of volunteers, dedicated to ensuring the success and stability of the credit union on behalf of the member-owners.

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Sara Micheletti
Board Chair 
Attorney,
McCarty Law

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Peter Mariahazy
Vice Chair
 Chief Administration Officer, 
Catalysis

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Michael Moore
Secretary
VP of Engineering,
Oshkosh Corporation

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Cathie Tierney
Treasurer
President/CEO,
Community First Credit Union

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Matthew Bingham
 Vendor Manager,
SECURA Insurance
 
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Daniel Ferris
VP, Chief Legal Officer & Corporate Secretary,
SECURA Insurance
 
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Amy Fricke-weigel
CEO,
Fricke Printing Services, Inc.
 

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Monica Hilt
Former COO,
Ascension Wisconsin

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Paul Schwartz
VP of Information Technology,
Badger Liquor Co., Inc.

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Kathryn Sieman
 Independent Board / CFO Advisory Services
/ Consultant
 
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Adam Swoverland
VP of Finance,
Breakthrough (a U.S. Venture company)

 

 



financial statements

 
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asset
growth

in billions

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reserve
growth

in millions

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membership
growth

 

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Statement of Condition

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Statement of Income

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In 2023, the Audit Committee authorized the accounting firm of CliftonLarsonAllen, LLP to conduct the annual audit and verification of accounts as of September 30, 2023 and June 30, 2023, respectively.

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615 team members

finding a way

to give 24,515 hours

back to the community.

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We believe in the power of community, so much so, that we made it part of our name. Our goal? To improve the lives of our members and the communities they call home. We continue to give across a broad range of interest areas because our members care about a broad range of needs.


 
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615 team members

finding a way

to make moments for our

 155,922 members

and the places they call home.



 

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Recognition isn't the goal, 

It's a reflection of the

work we do for you.

 

 

Icon-RaddonCrystalPerformance.png–15th Consecutive Year–

Raddon Crystal Performance Award Winner

This award recognizes Community First’s financial strength among the top 10 credit unions in the United States.

Icon-BauerFinancial.png5-Star Superior Rating by BauerFinancial

BauerFinancial, Inc., is the nation’s leading independent bank and credit union rating and research firm. 

 

Best of the Valley - Best Credit Union

Best of the Valley

Best Credit Union
Best of Winnebago County - Best Mortgage Lender

Best of Winnebago County

Best Mortgage Lender

 




Serving all your moments that matter. 

 


Community First Credit Union logo in all capital letters, We'll Find A Way! in italics underneath.