2025-11-17T17:46:12+00:00 2024-12-31 440160260 Forvis Mazars LLP 820 Massachusetts Ave Suite 1370 Indianapolis IN 46204 990 2024-01-01 350702986 Everwise Credit Union EVER 5742328012 110 SOUTH MAIN STREET SOUTH BEND IN 46601 Todd Brown CFO 5742328012 2025-11-18 true Michael Summers P00838533 3173834000 2025-11-17 2024 2025-03-06 01:10:19Z Todd Brown 110 SOUTH MAIN STREET SOUTH BEND IN 46601 329956987 false X www.everwisecu.com X 1931 IN State Chartered Credit Union 9 0 1055 0 620153 309689 0 259561169 293605846 25975058 35525158 936342 825983 286472569 329956987 309028 305964 0 68543462 74515321 0 0 183469822 226464074 252322312 301285359 34150257 28671628 5173106431 5252696962 4796733886 4834557480 376372545 418139482 State Chartered Credit Union false false 301285359 305964 329956987 In 2024, we continued our dedication to empowering our members and fostering a first-class workplace for our employees. We acquired land for two new branches in Hamilton County to expand our presence in central Indiana and introduced four Employee Resource Groups to provide our employees with professional development, leadership opportunities, and internal networking. 2024 marked our first full year as Everwise Credit Union, celebrating the completion of our re-founding journey. Despite a volatile and challenging environment for the banking industry, Everwise remained resilient and operated profitably. Deposits grew by 9.98%, loans outstanding increased 2.61%, and net income was $28.67 million. Through Everwise and the Everwise Foundation, we contributed over $900,000 to various organizations, with more than 600 dedicated employees volunteering at 45 non-profit locations throughout our markets. 301285359 false false false false false false false false false false true false false false true true true true false false false false false false false false false true false true false false false false false true false false false false false false false false true true true true false false true 108993 0 true 1055 true true true false false false false false false false X 9 0 false false false false true true false true true false true true true true true true true true true true true true X Jason Osterhage 5742328012 110 SOUTH MAIN STREET SOUTH BEND IN 46601 David Aranowski Assistant Treasurer 5.0 1.0 X X 36000 0 4635 Diane Maas Treasurer 5.0 1.0 X X 41169 0 6747 Jackie Morales Assistant Secretary 5.0 1.0 X X 36000 0 4621 James Dubois Secretary 5.0 1.0 X X 40234 0 6824 Thea Kelly Vice Chairman 5.0 1.0 X X 37800 0 6824 Vincent Henderson Chairman 5.0 1.0 X X 52505 0 8720 Arthur Vasquez Board Member (STARTED 05/2024) 5.0 1.0 X 32700 0 3270 John Myers Board member 5.0 1.0 X 39975 0 8113 Shirley Golichowski Board member 5.0 1.0 X 36900 0 9183 ANGELA DVORAK CHIEF MARKETING & GROWTH OFFICER 45.0 1.0 X 277888 0 34784 Daniel Rousseve Chief Information Officer 45.0 1.0 X 345998 0 50553 Jason Osterhage President & CEO 45.0 1.0 X 744495 0 48576 LYNDSAY MILLER CHIEF LEGAL & RISK OFFICER (START 07/2024) 45.0 1.0 X 114398 0 19603 MICHAEL LONDON CHIEF OF ACCOUNT & CREDIT OPERATIONS (START 04/2024) 45.0 1.0 X 198252 0 29203 Nancy Engelmann Chief Human Resources Officer 45.0 1.0 X 364090 0 65115 Norman Buchanan Chief Strategic Bus. Transformation Officer 45.0 1.0 X 328712 0 76612 PAUL LETOURNEAU SR VP COMMERCIAL CREDIT & SPECIALTY FINANCE (START 03/2024) 45.0 1.0 X 204468 0 29077 Todd Brown Chief Financial Officer 45.0 1.0 X 376380 0 62728 Waylon Peterson President, Everwise Wealth Management 45.0 1.0 X 445432 0 87734 Daniel Woodhouse Financial Advisor III 45.0 0.0 X 430619 0 50426 Nicole Alcorn VP, Chief Member Experience Officer 45.0 0.0 X 398828 0 35647 Randall Tarter Financial Advisor III 45.0 0.0 X 407524 0 25015 RICHARD GREEN SBA & USDA RELATIONSHIP MANAGER 45.0 0.0 X 302794 0 46027 Victoria Partaker Mortgage Sales Manager 45.0 0.0 X 363479 0 37268 5656640 0 757305 107 false true false Constellation Digital Partners 1000 St Albana Dr Raleigh NC 27609 Home banking platform 2172458 Elevate Technology Partners LLC PO Box 361 Byron Center MI 49315 Managed IT Services 1581523 Adrenaline LLC 195 New Hampshire Ave Ste 115 Portsmonth NH 03801 Marketing 795074 Allied Solution LLC 350 Veterans Way Ste 200 Carmel IN 46032 Insurance 783098 Awardco LLC 382 W Park Cir Ste 300 Provo UT 84604 Employee awards 544914 22 0 LOAN INCOME 522130 239191885 239191885 FEE INCOME 522100 30325108 29704955 620153 OTHER OPERATING INCOME 525990 24088853 24088853 0 0 0 0 293605846 29891277 29891277 231956 0 231956 0 231956 231956 435598 5198283 0 0 435598 5198283 5633881 5633881 SHARED BRANCHING 561439 594027 594027 0 0 0 0 594027 329956987 329336834 620153 0 305964 4316318 53626343 2514712 9799106 4258842 570747 381623 4500 6047599 6728311 3825104 11777984 6431399 377332 1444252 122018461 537564 8638378 955989 PROVISION FOR LOAN LOSS 34354299 FRANCHISE TAX 1310004 CU SERVICE DEPT/LOAN SERVICING 18502267 EQUIPMENT MAINTENANCE 167766 2390495 301285359 50318636 58530588 130230274 43348430 20528160 23776403 24748540 51642363 0 4034829336 4082294648 262670 273815 68168150 54585421 151042519 74543234 79456934 76499285 654002435 686564203 0 57928150 63847263 11935450 11854614 40697696 99479929 5173106431 5252696962 17283197 26601728 0 475000000 100000000 4304450689 4707955752 4796733886 4834557480 X 376372545 418139482 376372545 418139482 5173106431 5252696962 X 28671628 12984349 110960 X false true true false 14500160 14500160 77431034 37654112 39776922 0 0 0 57408780 36889122 20519658 1702545 0 1702545 76499285 Federal Income Taxes CASHIER CHECKS 8001269 OTHER LIABILITIES 9331566 DEFERRED COMPENSATION 225000 MEMBER SHARES 4690397917 4707955752 X 329956987 0 0 329956987 0 0 329956987 301285359 0 0 301285359 0 0 301285359 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote Management has evaluated their income tax position under guidance included in ASC740. Based on their review management has not identified any material uncertain tax position to be recorded or disclosed in the financial statements. true Everwise Foundation 110 South Main Street South Bend IN 46601 351939838 501(c)(3) 305964 0 The grant is a set funding amount from Everwise Credit Union for community involvement on an annual basis. These funds are then contributed to qualified organizations based on the vision and bylaws of the Everwise Foundation. 1 0 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds The foundation is a foundation set aside from Everwise Credit Union. The governing body abides by the bylaws for Everwise Foundation, and each donation is reviewed and agreed upon by the board of directors. X true true X X X X X false true false Jason Osterhage President & CEO 686884 0 46961 0 10650 0 37001 0 11575 0 793071 0 0 0 Waylon Peterson President, Everwise Wealth Management 191993 0 252705 0 734 0 74223 0 13511 0 533166 0 0 0 Todd Brown Chief Financial Officer 345607 0 30083 0 690 0 49217 0 13511 0 439108 0 0 0 Daniel Rousseve Chief Information Officer 310632 0 34896 0 470 0 40367 0 10186 0 396551 0 0 0 Nancy Engelmann Chief Human Resources Officer 322519 0 39591 0 1980 0 58079 0 7036 0 429205 0 0 0 Norman Buchanan Chief Strategic Bus. Transformation Officer 310750 0 16627 0 1335 0 63101 0 13511 0 405324 0 0 0 ANGELA DVORAK CHIEF MARKETING & GROWTH OFFICER 263327 0 14152 0 409 0 33929 0 855 0 312672 0 0 0 PAUL LETOURNEAU SR VP COMMERCIAL CREDIT & SPECIALTY FINANCE (START 03/2024) 196154 0 7500 0 814 0 29077 0 0 0 233545 0 0 0 MICHAEL LONDON CHIEF OF ACCOUNT & CREDIT OPERATIONS (START 04/2024) 190385 0 7500 0 367 0 23746 0 5457 0 227455 0 0 0 Daniel Woodhouse Financial Advisor III 41368 0 389181 0 70 0 38985 0 11441 0 481045 0 0 0 Victoria Partaker Mortgage Sales Manager 93784 0 269263 0 432 0 37268 0 0 0 400747 0 0 0 Randall Tarter Financial Advisor III 41368 0 366141 0 15 0 13862 0 11153 0 432539 0 0 0 Nicole Alcorn VP, Chief Member Experience Officer 381376 0 16770 0 682 0 35647 0 0 0 434475 0 0 0 RICHARD GREEN SBA & USDA RELATIONSHIP MANAGER 146219 0 156394 0 181 0 41157 0 4870 0 348821 0 0 0 Schedule J, Part I, Line 1a Travel for companions When traveling for corporate annual meeting, the spousal expense are covered for executive management. The travel is not included in compensation as it was incurred for the business purposes of Everwise Credit Union. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan There are SERP plans in place for the former CEO and Senior Vice Presidents of Everwise Credit Union. There are no contributions to the plan in 2024. Schedule J, Part I, Line 3 Everwise Credit Union uses an independent consulting firm to establish the amount of compensation for executive management. There is a written contract including the terms and agreement of the salary for the CEO. The agreement for the CEO is approved by the Board of Directors. Paul Marsh Former CEO Split Dollar X 9800000 10997171 false true true Louise Arsenault Former General Counsel Split Dollar X 4350000 4279111 false true true Todd Brown CFO Split Dollar X 3400000 3423956 false true true Chad Douglass Former CLO Split Dollar X 2600000 2643027 false true true Dan Rousseve CIO Split Dollar X 1600000 1663404 false true true Nicole Alcorn VP, Chief Member Experience Officer Split Dollar X 1219461 1298811 false true true Jason Osterhage President & Chief Executive Officer Split Dollar X 27231420 27336883 false true true 51642363 Form 990, Part VI, Line 6 Classes of members or stockholders All members are considered equal and have one vote based on voting requirements. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body Board members are elected based on the policy of the Credit Union and Board of Directors. Form 990, Part VI, Line 11b Review of form 990 by governing body The 990-Information used to prepare the tax return is gathered from within the accounting department. The return is compiled using an external accounting firm. The return is reviewed by the Chief Financial Officer and the Controller prior to review of the Board of Directors. Any changes to the tax return or in the instructions of the returns are brought to the attention of the Board of Directors for review. Form 990, Part VI, Line 12c Conflict of interest policy Everwise reviews the conflict-of-interest policy annually with all members of the Board of Directors, Senior Executive Management, Vice Presidents, and Assistant Vice Presidents. All persons in job classification are required to complete disclosure forms to accounts held, active loans, and any additional outside occupations. These documents are submitted for review to the Director of Administration. The policy includes steps to avoid conflict of interest and if changes occur regarding potential conflict of interest, it is the responsibility of the director, committee members, or the employee to report such changes to the proper channel. Form 990, Part VI, Line 15a Process to establish compensation of top management official An independent consulting agency is used to calculate and compare managements compensation. For the Chief Executive Officer, there is also a written contract stating a term and salary that must then be approved by the Board of Directors. Form 990, Part VI, Line 15b Process to establish compensation of other employees Same as Line 15A Form 990, Part VI, Line 19 Required documents available to the public The governing documents of Everwise Credit Union are available upon request. Financial statements are available to the membership as presented in the annual reporting, which is published in the first quarter of each year or available upon request. Each year, management of Everwise Credit Union reviews the conflict-of-interest policy, and it is available to others upon request. Form 990, Part VII, Section A, Line 1a The estimated amount of other compensation of the Board of Directors is the reporting year's accrued expenses for deferred compensation. The deferred compensation will be paid out to the board members upon retirement from the Board of Directors. Form 990, Part XI, Line 9 Other changes in net assets or fund balances Membership fees received during the year of $110,960 are a charge to become part of the membership at Everwise Credit Union. They are not treated as income rather are directly added to equity as ownership within the organization for each membership account that is opened during the year. - 110960; Total - 110960; Everwise Lending Agency LLC 110 South Main Street South Bend IN 46601 010867566 Indirect Lending Agency for Autos IN 177545 4944833 Everwise Credit Union Everwise Ventures LLC 110 South Main Street South Bend IN 46601 300012071 Investing in CUSOs IN -28196 22264684 Everwise Credit Union Everwise Foundation 110 South Main Street South Bend IN 46601 351939838 Community funding authority IN 501(c)(3) PF Everwise Credit Union true false true false false false false false false false false false false false false false false false false false Everwise Foundation B 305964 The grant is a set funding amount from Everwise Credit Union for community involvement on an annual basis. These funds are then contributed to qualified organization based on the vision and bylaws of Everwise Foundation. Schedule R, Part V, Line 2 Everwise Credit Union budget amount is based on the number of memberships within the Credit Union. These funds are allocated for community involvement and contributions for public relations. The unused funds for 2024, $305,964, are transferred to Everwise Foundation for additional community funding.