2023 Annual Report
Below, you'll find a wealth of information about Fox Communities Credit Union's performance in 2023.
Purpose
We have a passion for helping people in our communities.
Mission
We partner with our members, communities and Fox Family to build stronger financial futures.
Vision
We will embrace our organizational evolution to create a lasting member experience that exceeds expectations by ensuring our team is exceptional, has the tools to succeed and is shown the love, value and respect they deserve.
A Special Message from the President/CEO and Board Chair
As a member and owner of Fox Communities Credit Union, you deserve a financial partner that truly understands you, your needs and always puts you first. Ensuring exceptional service to you, both now and in the future, is very important to us. In 2023, this was our focus, building a culture where we go above and beyond for each other. This started with internal initiatives to grow and develop our teams and team members, and extended to growing and developing our products and services to better meet your needs. And it’s not just about saying we provide exceptional service or great rates. It’s about the actions we take, the decisions we make and how we approach every day to help you make life happen and to help our communities thrive.
This focus benefited our 129,826 members of Fox in our communities. In addition, Forbes named Fox the best credit union in northeast Wisconsin.
Furthermore, while continuously improving how we serve you, we're committed to enhancing our technology and products as well. Our new website is user-friendly with easy navigation and search tools for seamless access to the information you need and want. Based on your feedback, we made it more convenient to deposit cash or checks at our ATMs—a hit among our membership. Additionally, we streamlined the online process for you to easily add transactional and deposit accounts to your membership. For anyone wanting to become a new member of Fox, we launched online account opening through our new website. Our ongoing projects aim to make managing finances with us as inclusive and welcoming as possible.
In 2024, continuing to build strong and genuine relationships to support you and our communities will be at the heart of all we do, because we know relationships matter. As we grow on this journey together, we look forward to creating more meaningful connections, memorable experiences and delivering value to help you achieve your financial and life goals. From all of us here at Fox, thank you for your continued trust in us. Here’s to a strong 2024!
Statement of Financial Condition
| Income Statement | |
|---|---|
| Interest Income - Loans | $93,267,228 |
| Interest Income - Cash & Investments | $22,627,789 |
| Interest Expenses - Deposits & Borrowings | ($51,472,463) |
| Net Interest Margin | $64,422,554 |
| Credit Loss Expense | $4,089,343 |
| Non-Interest Income | $22,096,152 |
| Operating Expenses | $70,484,132 |
| YTD Net Income | $11,945,231 |
Helping Members Make Life Happen for Generations
The meaning behind our mission has remained the same since we started in 1937—helping members make life happen by owning every request and delivering our best.
129,826
Total Members
Forbes
Best Credit Union in Northeast Wisconsin and 3rd Best Credit Union in Wisconsin
Fox Cities Chamber
PULSE Champion of Young Professionals
The Bay Community’s Choice
Best Credit Union for the 3rd Year in a Row in Green Bay
The Fox Difference
Here's the bottom line: Fox isn't a bank with customers. We offer similar services, but with one huge difference—you, our member. Other financial institutions may exist to make profits for their shareholders. Credit unions like Fox are not-for-profit, and our mission is to partner with our members, communities and Fox Family to build stronger financial futures.
$420,000 Downpayment Plus Program
Financial assistance for downpayment and closing costs to ease the path to homeownership
464 Team Members
Dedicated to helping you make life happen and creating a lasting member experience
4,416 Unsecured Personal Loans
Members achieved goals from debt consolidation to home transformations and beyond
298 First-Time home Buyer Loans
Members receive lower down payments, reduced closing costs and more affordable home insurance
$202 Million in Business Loans
Experienced financial partners to take business members to the next level with everything from lending to treasury management
$447,323 Total payout on member balances and $68,555 Non-Fox ATM fees refunded to members
Fox Rewards Checking: an account that rewards our members with more money back than ever
Prioritizing the Financial Well-Being of Members and Team Members
To fulfill our mission of helping build stronger financial futures, we continue to make significant investments in our three pillars of financial well being; financial wellness, financial education and our products and services.
50 Certified Credit Union Financial Counselors
Empowering our team with the knowledge to be the reason our members thrive
10,000+ Credit Report Reviews for New Members
Personalized credit report reviews also came with education and coaching
78 Credit Building Credit Cards
In December, we launched two credit cards aimed to help (re)build credit
21 Free Financial Education Events
Covering home buying, social security, retirement planning and more
345 Financial Health Checks
Our member solutions team reached out to understand member financial situations and offer solutions
18 WHBY Radio Shows
Our team members share their expert financial insights and tips
Paying it Forward to Enrich Lives and Strengthen Communities
Our roots extend far and wide, establishing a strong partnership with the communities we proudly call home. Our commitment to our neighbors goes beyond a donation check or financing—it’s about creating genuine relationships and giving back. From sponsoring local charities to hosting community events and offering a helping hand, our dedication to making a meaningful impact is ingrained in our identity. It's not just what we do; it's who we are, driven by a passion for helping people in our communities.
6,871 Team Member Volunteer Hours and 275 Team Members Volunteered
From Rebuilding Together to Feeding America, our team members love to pay it forward by volunteering their time at local nonprofits throughout the year
$ 475,739 Donated to Local Nonprofits and 199 Nonprofit Partnerships
Fostering partnerships with local nonprofits to make a positive difference in people’s lives enriches the communities that support them
8 Collections and Drives
Thanks to our members' generosity, we organized various collections and drives: Candy Bar Sales, Coats for Kids, Help for the Homeless, Pedal it Forward, Purple Light Project, Stock the Shelves, Toys for Tots and We Gotcha' Girl
All Heart, No Profit
Established in 2016 to address hunger and homelessness while cultivating the arts. In 2023, Fox Cares Foundation supported 32 nonprofits, awarded $144,953 in grants, and fundraised $281,078! Learn more about Fox Cares Foundation.
Biking for Our Communities, Music and Fun
Since 2016, our annual Bike to the Beat event on the first Saturday in August has united thousands in pedal-powered fun, raising over $441,500 to support local causes. Participants enjoyed a family-friendly bicycle ride filled with live concert jams at rest stops, sipping local brews and savoring snacks from nearby restaurant vendors along the scenic route. Check out the Bike to the Beat website for more information.
$94,000 Funds Raised and 50+ Businesses Helped Support this Event
All participant fees and their donations help fuel the Fox Cares Foundation
2,917 Participants and 19 States Represented
Cyclist of all abilities, ages and from various states gear up for this popular Northeast Wisconsin ride
21 Live Performances and 8 Rest Stops from Combined Locks to De Pere
Riders enjoyed live music at each rest stop, from solo acoustic sets to full bands
Board of Directors
Rich Scott, Chair
James Richardson, Vice Chair
Paul Sippl, Treasurer
Joanne Bogenschutz, Secretary
Martin Docter, Director
Jessica Fleek, Director
William Panella, Director
Michael Voelker, Director
Camille Zizzo, Director
Executive Leadership Team
Chris Allen, President/CEO
Melanie Draheim, Chief Marketing Officer
Kris Hackbarth-Horn, Chief People Officer
Kory Kitowski, Chief Information Officer
Adam Landsverk, Chief Lending Officer
Mitchell Musial, General Counsel
Tommie Preslaski, Chief Experience Officer
Niki Schaumberg, Chief Financial Officer
