Letter from Victoria + Kevin
Dear fellow members,
For 85 years, Verve has been bringing people with common interests and goals together—people who also share ownership, and a stake, in how well this cooperative performs. Verve exists to serve you, our members. We’ve all been through a lot over the last two years. We know it hasn’t been easy, but we have seen some very positive changes. We told you in 2020 that “we’re all in this together,” and in 2021 we truly believe a “stronger together” perspective emanated from our team members to our members and their communities.
Verve’s commitment to its members, team and community is unwavering. Verve remains financially strong, which allows us to continue to heavily invest in our technology infrastructure as well as provide financial education and community support. This financial strength aligns Verve for growth and provides more conveniences and various ways for members to take care of transactions in the way they prefer.
Just as our founders established a member-owned cooperative to provide the financial stability and longevity that our team, families and communities depend on, Verve strives to carry on this legacy of prudent decision-making today.
We want to thank you for your ongoing loyalty and membership, and for putting your trust in Verve throughout the uncertainties you have encountered over the last year. We are a strong and successful credit union because our members believe in the values of cooperation and community.
Sincerely,
Kevin J. Ralofsky
President and CEO
Victoria Beltran
Board Chair
Total Assets
$1.5 billion
0.70% from 2020
Total Members
64,108
-2.70% from 2020
Total Income
Total Expenses
GROSS INCOME
$58.7M
-5.12% from 2020
NET INCOME
$8.7M
-2.22% from 2020
INVESTMENT INTEREST
LOAN INTEREST
OTHER INCOME
$49.9M
-7.53% from 2020
MEMBER DIVIDENDS
OPERATING EXPENSES
PROVISION FOR LOAN LOSSES – 0%
Total Loans
$978.5M
+6.13% from 2020
Total Deposits
$1.2B
+1.56% from 2020
LOAN GROWTH BREAKDOWN
AUTO
COMMERCIAL
CREDIT CARDS
MORTGAGES
OTHER
DEPOSIT GROWTH BREAKDOWN
CERTIFICATES
CHECKING
IRAS
MONEY MARKETS
SAVINGS
2021 Awards
Community Involvement
SUPPORTED
300+
ORGANIZATIONS
GAVE BACK
$470K
IN DONATIONS, SPONSORSHIPS + SCHOLARSHIPS
View full list of organizations and communities we supported in 2021
7 Rivers Region Chapter of Credit Unions
AARP, Inc.
Acts of Peace Players
Adopt a Family
Alzheimer’s Foundation of America
American Cancer Society
American Civil Liberties Union
American Diabetes Association
American Heart Association
American Red Cross
Appleton Baseball Club, Inc.
Appleton Habitat ReStore
Appleton School District
Appleton West Youth Basketball Association
Ascension Health
Attic Chamber Theatre
Aurora Medical Center & Clinic
Avalanche Hockey Booster Club
Battle on ‘Bago – Oshkosh
Berlin High School
Best Friends of Neenah Menasha
Big Brothers, Big Sisters of East Central Wisconsin
Boy Scouts of America
Boys & Girls Club of Fond du Lac
Boys & Girls Clubs of La Crosse
Boys & Girls Clubs of the Fox Valley
Brillion Athletics
Brillion Area Family of Funds
Brillion Chamber of Commerce
Brillion Fire Department
Brillion High School
Brillion Nature Center
Brillion Police Department
Brillion Public Schools
Butte des Morts Historical Preservation Society
Calumet County Youth Safety Association
Celebrate Onalaska
Central Wisconsin Auto Collectors
Children’s Hospital of Wisconsin
Children’s Miracle Network Hospitals
Children’s Museum of Fond du Lac
Christine Ann Domestic Abuse
City of La Crosse Parks, Recreation & Forestry
City of Oshkosh Parks & Recreation
Coats for Kids
Community Blood Center
Compassion International
Coulee Council on Addictions
Coulee Region Humane Society
Covey
Cystic Fibrosis Foundation
Day by Day Warming Shelter
Downtown Fond du Lac Partnership
Downtown Mainstreet, Inc.
Downtown Oshkosh BID
Ducks Unlimited
EAA
Eastern Ridge Home Builders Association
Empty Bowls Oshkosh
Envision Greater Fond du Lac
Excellence in Leadership
Family Services, Inc.
Father Carr’s Place 2B
Feeding America Eastern Wisconsin
Fond du Lac Area Community Foundation
Fond du Lac Area Homeschool Drama Troupe
Fond du Lac Area Realtor Fund
Fond du Lac Blue Line Club
Fond du Lac Concert Association
Fond du Lac Dock Spiders
Fond du Lac Girls Fastpitch
Fond du Lac High School
Fond du Lac Humane Society
Fond du Lac Restore
Fond du Lac Salvation Army Thrift Shop
Fondy Food Pantry
Fondy Youth Baseball
Fox Cities Chamber of Commerce
Fox Cities Habitat for Humanity
Fox Cities Performing Arts Center
Fox Crossing Parks & Recreation
Fox Valley Humane Association
Fox Valley Pro Basketball
Fox Valley Symphony Orchestra
Fox Valley Technical College
Fox Valley Technical College Foundation
Fox Valley Thrift
Fox-Wolf Watershed Alliance
Future Neenah
Future Omro
Get Toby Home, Inc.
Girl Scouts of the USA
Goodwill of La Crosse & Onalaska
Goodwill Industries of Northeast WI
Grace Lutheran School
Grand Opera House
Greater Fox Cities Chapter of Credit Unions
Greater Oshkosh Economic Development Corporation
Greenville Lions Club
Grow La Crosse
Gundersen Medical Foundation
Habitat for Humanity of Fond du Lac County
Habitat for Humanity of Northern Fox Valley
Habitat for Humanity of Oshkosh ReStore
Habitat La Crosse
Hilbert Athletics
Hilbert High School
Holmen Area Community Center
Holmen Area Foundation
Holmen Business Association
Holmen Lions Club
Holmen Knights of Columbus
Holmen Rotary Club
Holmen School District
Home Builders Association of the Fox Cities
Irishfest La Crosse
JDRF
Julie’s Touch of Silver Dance Studio
Julie’s Twirling Corps
La Crescent Animal Rescue
La Crosse Area Builders Association
La Crosse Area Chamber of Commerce
La Crosse Area Family YMCA
La Crosse Area Realtors Association
La Crosse Builders Exchange
La Crosse City Vision Foundation
La Crosse County 4-H
La Crosse Logan High School Booster Club
Leach Amphitheater
Leadership Fond du Lac
Leadership Oshkosh
LEAVEN
Leukemia & Lymphoma Society
Local Lupus Alliance
Lourdes Academy
Make a Wish Foundation of Wisconsin
Manitowoc County Historical Society
March of Dimes
Marian University
Martin Luther Oshkosh
Menasha Public Schools
Mercy Health Foundation
Mid-Morning Kiwanis Club of Oshkosh
Mississippi Valley Conservancy
Moraine Park Foundation
Moraine Park Technical College
Multiple Sclerosis Society of Wisconsin
National Student Leadership Foundation
Neenah Animal Shelter
Neenah High School
Neenah Joint School District
New Horizons Shelter & Outreach Center
North Fond du Lac School District
Oktoberfest La Crosse
Omro Food Pantry
Omro High School
Omro Rushford Volunteer Fire Department
Onalaska Care Center
Onalaska School District
Oshkosh Area Community Foundation
Oshkosh Area Community Pantry
Oshkosh Area Humane Society
Oshkosh Area Women’s Association (Women’s Fund)
Oshkosh Boys & Girls Club
Oshkosh Celebration of Lights
Oshkosh Chamber of Commerce
Oshkosh Community Players
Oshkosh Community YMCA
Oshkosh Convention & Visitors Bureau
Oshkosh Fast Club
Oshkosh Fire Department
Oshkosh Food Cooperative
Oshkosh Food Pantry
Oshkosh Gymnastics & Cheer
Oshkosh North Booster Club
Oshkosh North High School
Oshkosh Public Library
Oshkosh Public Museum
Oshkosh Rotary
Oshkosh School District
Oshkosh Senior Center
Oshkosh Southwest Rotary
Oshkosh Spartan Softball Club
Oshkosh United Soccer Club
Oshkosh Waterfest
Oshkosh West Booster Club
Oshkosh West High School
Oshkosh West Side Association
Oshkosh Youth Baseball
Oshkosh Youth Soccer Club
Paine Art Center & Gardens
PALS – Partners at Learning
Parent to Parent of Wisconsin
Payne’s Point Hook and Spear Fishing Club
pdsF.U.S.I.O.N. Inc.
Rawhide Youth Services
Realtors Association of Northeast WI
Relay for Life
Ronald McDonald House
Rotary After Hours La Crosse
Rotary Club of Oshkosh on the Water
Rotary Lights of La Crosse Wisconsin
Run with the Cops – Oshkosh
Salvation Army
Saving Sully Dog Rescue
School District of La Crosse
Sherwood Lions
Snowdrop Foundation
Sophia Transformative Leadership Partners
Special Olympics of NE Wisconsin
Spina Bifida Association
Springbrook Sportsmen’s Club
St. John Sacred Heart School
St. Joseph Food Program, Inc.
St. Jude Children’s Research Hospital
St. Mary Catholic Schools
St. Vincent De Paul
Steppin’ out in Pink
Stock the Shelves
Sturgeon for Tomorrow
TEDxOshkosh
The Brigade
The Fox Crossing Parks and Recreation Department
The Global Leadership Summit
The History Museum at The Castle
The Hunger Task Force of La Crosse
The Mini Donut Foundation
The Realtor Association of Fox Valley
The Rotary Foundation
The Trevor Project
Thelma Sadoff Center for the Arts
Titan Alumni Foundation
Town of Algoma
Town of Menasha Parks & Recreation Department
Toys for Tots
Trempealeau County Humane Society
Two Rivers Youth Sports
Unified Catholic Schools
United Way
UW Fond du Lac
UW Fond du Lac Foundation
UW Oshkosh-Fox Valley Campus
UW La Crosse
UW Oshkosh Foundation
UW Oshkosh
Valley Christian School
Viterbo University
Wafer Food Pantry
Whisper Hills Clydesdales
White Paws German Shepherd Rescue
Whitetails Unlimited
Wings Over Wisconsin
Winnebago Conflict Resolution Center, Inc.
Winnebago County Sheriff’s Department
Winnegamie Home Builders Association
Wisconsin Credit Union League
Wisconsin Credit Union Legislative Action Fund
Wisconsin Timber Rattlers
Women’s Alliance of La Crosse
Women’s Fund of Greater La Crosse
YMCA of the Fox Cities
Youth-Go
Youth Leadership Oshkosh
2021 Successful Initiatives
TECHNOLOGY UPGRADE
For more than three years, Verve planned for the tech upgrade that occurred in April 2021, which markedly improved the way members access accounts through online banking and the mobile app. And the feedback from members has been overwhelmingly positive. There are many new features, such as simplified transfer options, viewing balances on your phone without logging in and enhanced security technology using fingerprint and facial recognition.
BETTER WAYS TO BANK WITH VERVE
Throughout 2021, we have continued to research and test new tools, services and technologies to bring you new and better ways to bank with Verve. We expanded our video tellers to more branches, which help us shorten your wait time in the drive-up lanes while still providing great service and security. We use this technology to connect you with available team members and help you get on your way faster.
AUDIT REPORT
The Enterprise Risk Management Committee, comprised of Board representatives and senior executives, reviews audits done periodically throughout the year. These audits show that the operations, records and finances of the credit union are in good order.
The annual financial audit for the credit union is still in process for 2021. The results of the audit will be shared on Verve’s website when it is completed.
Respectfully submitted,
Bill Colclough
Enterprise Risk Management Committee Chair
LOOKING FORWARD
To provide YOU, our members, with faster, more efficient service and some of the latest technology, as we continue to roll out new features in our enhanced online banking experience.
With a continued focus on digital services and future payment channels, we are building out the digital experience so members can bank in the way they prefer while also enhancing the in-person experience in order to take care of more complex transactions.
Community is at the heart of all we do at Verve. We know that when we invest time, energy, enthusiasm and financial support in worthwhile causes and organizations, we are building stronger and better places for people to live, work, play, learn and worship.
Federally Insured by NCUA | 
Equal Housing Opportunity |