Community Engagement - Altra Federal Credit Union

One of Altra’s biggest efforts in 2012 was to
help fight hunger with the Drive Away
Hunger Campaign. Altra donated $10
for every car, truck, and motorcycle loan
financed through Altra from September 1st
through October 31st, 2012. Members
who matched Altra’s $10 donation were
rewarded with an additional rate discount.
Altra partnered with The Hunger Task
Force in La Crosse, Wisconsin; Winona
Volunteer Services in Winona, Minnesota;
Empty Bowls in Clarksville, Tennessee; and
East Texas Food Bank in Tyler, Texas. Altra
raised over $16,000 with its Drive Away
Hunger Campaign which generated
awareness of the increasing need our
communities face in feeding the hungry.
Supervisory Committee Annual Report
February 28, 2013
The Supervisory Committee is responsible for maintaining oversight of the
Credit Union’s management and financial records to ensure that the Credit
Union’s financial condition is fairly presented.
To meet this responsibility, the Supervisory Committee ensures that a regular
independent financial audit of the institution’s financial statements is performed.
The certified public accounting firm of CliftonLarsonAllen LLP performed the
audit for 2012. They have performed our audit for the past several years, and for
2012 we received an unqualified opinion, similar to previous years.
The Supervisory Committee also oversees the internal audit function. The
internal audit function is an independent appraisal activity established by the
Board of Directors to conduct reviews of operations and procedures and to
report findings and recommendations to management and to the Board of
Directors via the Supervisory Committee.
Frank Gillette, Chairperson
Supervisory Committee
Community Engagement
Corporate Contributions
Altra Federal Credit Union believes in investing in the communities
we serve by providing contributions to social services, health, youth,
and education. In 2012, Altra was Pacesetter for the United Way,
strong fund raiser for Children’s Miracle Network Hospitals,
supporter of the new Performing Arts Center in La Crosse, Wis.,
contributor to Viterbo University’s School of Business, supporter of
Boys and Girls Clubs, sponsor of the Oktoberfest Maple Leaf Parade,
Drive for Hope Lung Cancer Fundraiser with Gundersen Lutheran,
and many other social service organizations.
Volunteerism
Altra employees love to volunteer! In 2012, Altra employees put in
a total of 3,561 volunteer hours for organizations and causes
throughout the communities they serve. Whether volunteering at
events, serving meals, buying Christmas gifts for needy families,
judging at Future Business Leaders of America events, or serving on
various non-profit boards, you can see Altra employees year ‘round
making a difference in your community. Altra also offers graduating
High School Seniors $500 scholarships based on community service.
21%
Record
Auto Loan
volume of
$106 million
Record
Real
Estate
Loan volume of
$412 million
Increase
in SBA Loans
outstanding
Record
Credit
Card
sales volume of
$92 million
Altra Federal Credit Union is recognized for its extensive financial
education efforts. Through youth events, school presentations,
social media and websites, Altra interacted with more than 2,200
students in 2012 and taught them financial life skills. Specifically,
Altra offers the following programs:
• Supplying Banzai materials to schools for teaching financial
literacy to junior high and high school students
• Providing a virtual finance simulation at schools through
Altra’s Modoh Island program
• Volunteering each year for Junior Achievement
• Participating in over thirty-five school classroom
presentations each year
• Conducting a Cash Camp for 8-12 year olds
• Hosting a Teens & Money Seminar
• Involvement in the Washburn Academy
• Supplying judges for DECA and FBLA judging
• Offering scholarships to teachers to attend the National
Economic Literacy School
• Hosting a Women & Investing Seminar and
Social Security Seminar
29%
of online
banking members
using My Credit
Score, a new
service launched
in 2012.
John Nemec, Chairman
Board Members
Financial Literacy
Record
growth in
checking
accounts of
10.5%
Frank Gillette, Chairman of Supervisory Committee
Frank Gillette has been on the Altra Board of Directors since October of
2002 and currently serves as Chairman of the Supervisory Committee.
He was the founder of Gillette & Associates, LLC - CPA’s where he is now
a consultant. Gillette & Associates has been in business for over
twenty-seven years, specializing in tax and accounting services. Gillette
has taught accounting classes at the University of Wisconsin – La Crosse
and is a retired Navy Commander. Gillette is a CPA, has an MBA in Accounting from
Mankato State University, and a BS in Business Administration from UW – La Crosse.
He has two sons and resides with his wife in La Crosse, WI.
Donald Lee, Secretary
Donald Lee was elected to the Altra Board of Directors in March of 2001
and is currently the Secretary. Lee is retired from the Trane Company
where he spent forty-one years as a Machinist Skills Trainer/Machine
Operator. As a trainer, he was responsible for on-the-job classroom
training using presentations, machine controls simulator, and
hands-on training verifications. Lee has served as Deacon for the
Onalaska Church of Christ and also led the Fellowship Ministries Committee. While
serving in the United States Army, he was the team leader for the Communications Center
at Fort Monroe, Virginia. Lee has five children, ten grandchildren, and resides with his wife
in Onalaska, WI.
Terri Brennan
Terri Brennan joined the Altra Board of Directors in March of 2008.
She is currently the Reporting and Operational Excellence Leader for
Ingersoll Rand in La Crosse, WI, where she leads a team of twenty
people and champions projects related to productivity, standardization,
and process improvements. Brennan is also a Trane Six Sigma Master
Black Belt and was one of the first groups at Trane to achieve
certification. She has been employed by Trane since 1996. She is also a member of the
Blessed Sacrament Parish Finance Council and the La Crosse Small Business
Development Loan Committee. Brennan is a CPA, has an MBA in
Business from the University of Wisconsin – La Crosse, and
a BA in Accounting and Marketing from the
University of St. Thomas School of Business.
Record increase
in Youth
members
by 9%
Altra
is awarded
the Desjardins Award
for Youth Financial
Education for credit
unions greater than
$500M in assets by
the Wisconsin Credit
Union League.
Elected: 2011
Term Expires: 2014
Jill Bernstein, Vice Chairman
Elected: 2012
Term Expires: 2015
Amy Hansen, Assistant Secretary
Elected: 2012
Term Expires: 2015
Mark Ward, Treasurer
Elected: 2011
Term Expires: 2014
Wes Panzer
Elected: 2012
Term Expires: 2015
Loren Krueger
Elected: 2011
Term Expires: 2014
Mike Goryl
Associate Board Member
Altra completed a
new Operations
Center,
Center opened a
Rochester, MN branch,
branch
renovated Central High
School Office,
Office and purchased
property with a building for a
new branch in West Salem, WI
2012 Annual Report
Drive Away Hunger
Locations
Winona
Lexington
526 Orrin St.
Winona, MN 55987
1515 Mercer Rd.
Lexington, KY 40511
operations center
Rochester
Trenton
1700 Oak Forest Dr.
Onalaska, WI 54650
123 16th Ave. SW Suite 500
Rochester, MN 55902
2231 E. State St.
Trenton, NJ 08619
La Crosse
Tyler - Troup Hwy.
Pueblo
2715 Losey Blvd. S
La Crosse, WI 54601
5523 Troup Hwy.
Tyler, TX 75707
101 William White Blvd.
Pueblo, CO 81001
Festival Foods - La Crosse
TYler corners
Ft. Smith
28 Copeland Ave.
La Crosse, WI 54603
3829 Hwy. 64 W
Tyler, TX 75701
4811 South Zero St.
Ft. Smith, AR 72903
ONalaska
Clarksville - Madison st.
Central H.S.
1807 E. Main St.
Onalaska, WI 54650
1600 Madison St.
Clarksville, TN 37043
1801 Losey Blvd. S
La Crosse, WI 54601
holmen
Clarksville - stone container
Holmen h.s.
1404 S. Main St.
Holmen, WI 54636
184 Stone Container Dr.
Clarksville, TN 37040
1001 McHugh Rd.
Holmen, WI 54636
Mission Statement
To meet our members’ financial needs
through diversified, competitively priced,
economically sound services provided in
a friendly, helpful manner.
Brand Principles
Friendly & Outgoing
Approachable manner that provides ease
& confidence through people who truly
care about member’s needs & lives.
Engaging
Sincere conversations that reflect
trust & commitment
Trustworthy
Commitments & promises define values
& integrity our members rely on.
Non-judgemental
Respect member’s life & financial goals.
Work hard to achieve them.
Focused
Member-first organization
La Crescent
Confident
205 N. Chestnut St. Suite 102
La Crescent, MN 55947
Products to meet members’ needs & skills
to match our products to their needs.
800-775-0055 • www.altra.org
It’s Where You Belong!
A message from our President
2012 was a record year for Altra Federal Credit Union
thanks to our growing, loyal members and our very
dedicated employees. I am pleased to report Altra Federal
Credit Union remains safe, sound, and financially strong.
We have had exceptional growth in 2012. Our capital
position has improved a full percentage point from 9.3% to
10.3%. This is considered “well capitalized” by the National
Credit Union Administration (NCUA). A strong capital
position allows Altra to expand its products and services while maintaining a strong
professional workforce. It also protects the Credit Union during economic downturns as
we recently experienced. Our Efficiency Ratio at 62% ranks in the top 8% of all Credit
Unions in Altra’s peer group. This ratio shows that the Credit Union has been controlling
expenses and managing margins while offering the best in financial services for our
members. Total membership reached close to 73,000, and Total Assets grew to over $900
million. Altra’s A+ Checking continues to be a leading product, rewarding members with
our highest deposit rate.
As always, our focus remains on serving our members. During 2013, Altra will continue
to invest in the communities we serve and look forward to providing new products and
services to our members. We will be opening our new West Salem, WI office and look
forward to servicing our new family of members in this community. Our strong
commitment to education will continue, providing learning experiences for our youth
and helping adults manage their finances.
In closing, I would like to extend my appreciation to you, our members, for allowing
Altra to help you meet your financial needs. We are grateful for your business and know
that it is because of you we continue to grow!
Best regards,
Jack Peplinski, President/CEO