2019 Annual Report

Verona, WI UW Credit Union Branch

Invested In You.

At UW Credit Union, we believe in people. We know the impact just one person can make and our infinite potential when we work together. After nearly 90 years, we remain committed to supporting members’ financial well-being, lifting up communities through sustainable practices, and empowering our employees to thrive.  



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$3.33 Billion

in assets


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278,424 UWCU Members

total members


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Staff of the UW Credit Union branch in Verona

The Verona branch team at their grand opening pictured left to right are Branch Manager Brandon Day, Juan Cruz, Camille Moreau, Annelise Ross, Carlos Ortega, Anna Muncy, Cody Newton and Bob Bongard.

2019 Year In Review


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New Products & Services

We continue to identify new and exciting ways to provide value and convenience.

transactions with Zelle®, a new option
to send and receive money 

members have upgraded or opened
one of our new Visa® credit cards


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Advanced Technology

Our team of in-house internet service experts provide a best-in-class experience.

Web Branch and Mobile App users

Web Branch satisfaction

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Financial Growth

We reached new milestones with our competitive lending and savings solutions.

combined loans for home purchases and refinances
(for a total of $962M)

lender in Dane County for home purchases
and #4 in Milwaukee

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Expanded Markets

UW Credit Union is reaching new communities and providing added convenience.

our first location in Verona, which
opened in July at 651 Hometown Circle

our second Fitchburg branch, conveniently
located on Fish Hatchery Road 

Member Stories: Meet The Wellsmiths

"We've been in our home for more than 11 years.

"Looking at this house reminds us of taking 'First Day of School' pictures, building the playset in the back yard, hosting baby showers and birthday parties, and of course Sunday football games.

"We have so many memories and milestones that have taken place in this home over the years, and we feel lucky to have made improvements to it to truly make it our own.

"After a year with our initial mortgage, we had enough equity to refinance to a lower rate while keeping our payment nearly the same. Five years later, we refinanced to a shorter term and even lower rate. By refinancing twice, we can pay off our home faster and put more money toward home projects and our children's college fund.

The Wellsmith family

"We've been members since 1994 so we go to UW Credit Union first for our financial needs. Their service is great, and they are always ready to answer questions and help us better understand our options.

"We truly feel that UW Credit Union is our partner through each phase of life and they truly have our best interest at heart."

Read More Member Stories

Winners of UW Credit Union scholarships pose with t-shirts of their colleges

Three of our 2019 Community Values Scholarship recipients pictured left to right are Amelia Hayden, Madhu Gowda and Cesar Gomez. Not pictured are recipients attending UW-La Crosse and Edgewood College.

Educational Outreach & Community Partnerships


We strive to be a force for good where we work and live. That’s why we support local charities, financial education and environmental sustainability to help strengthen and protect our communities.

United Way of Dane County’s Affordable Housing Fund
Our donation goes toward creating more affordable housing options in Dane County to help end acute family homelessness.

Workplace Fundraiser
Our annual Community Giving Campaign motivated UWCU employees to raise money for United Way and Community Shares of Wisconsin.

Filene Research Institute’s Center of Excellence for Diversity, Equity & Inclusion
We’ve partnered with Filene to tackle challenges regarding workforce diversity and underserved populations in the financial industry.

1,405 hours
Volunteer Efforts
Full-time employees receive up to 16 hours of paid volunteer time per year. In 2019, employees volunteered 453 times with 70 organizations.


Making a Difference

Stable and affordable housing creates a foundation from which all things are possible.

Nearly half the homeless population in Dane County are families, with more facing housing insecurity each day. Research has shown that the Madison area could add 1,000 affordable housing units each year and still not keep up with demand.

That's where the United Way's Affordable Housing Fund in the United Way of Dane County Foundation comes into play. With an innovative and sustainable new approach, the fund acts as a revolving loan to bridge financing gaps for nonprofit housing developers in Dane County. As loans are repaid, funding becomes available for new loans.

"We invest in a multi-pronged strategy," explains Renee Moe, President & CEO of United Way of Dane County. "Families are at the center of our work through case management, rent assistance, relationship building with landlords, and job training. Now the Affordable Housing Fund creates another resource to ensure housing stability for children and families."

United Way volunteers cheering

Thanks to UW Credit Union's $150,000 donation in September 2019, United Way's Affordable Housing Fund doubled in size. That means in the future our community will realize more stable housing and more support for families in need.

As Renee puts it, "By surrounding families with support, kids are successful in school, parents are successful in the workplace, and everyone is safe, stable and healthy. When families are stable, our neighborhoods are safer and our community is healthier - everyone wins!"

Womens Leadership Network

UWCU employees Catie Zurbuchen, Pam Peterson and Maggie den Daas at a Women’s Leadership Network event.

Big Wins for Our Workforce


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716 UW Credit Union Employees

total employees


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86 Multilingual Employees

multilingual employees


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13 percent team growth

increase in staff, adding to Wisconsin's workforce

Competitive Pay
In 2019, we increased our Foundation Wage from $15 per hour to $15.75 to maintain a fair, sustainable minimum hourly rate for all employees.

Caregiver Leave
Updated policies in August 2019 provide new paid caregiver leave and expanded paid parental leave to better support families.

Employee Community Groups
Employee-led groups offer opportunities for networking and career development, as well as fostering a more inclusive workplace.

Team Training
Sessions covering unconscious bias, emotions and belonging help employees grow their cultural competency. 93% of employees have attended.


Building a Culture of Diversity & Inclusion

In 2019, UW Credit Union welcomed Sheila Milton as our Director of Cultural Competency & Inclusion.

“The way that I like to think about it, diversity is the mix of differences, inclusion is making the mix work, cultural competency is how to achieve inclusion, equity is the goal.

“At UW Credit Union, we want to be leaders in this space by creating a deeply inclusive culture that benefits everyone.

“My role entails providing subject matter expertise, strategic planning, thought leadership and partnership with our senior leaders, human resources, talent development and talent acquisition to strengthen our practices and policies.

“I also work with our Employee Community Groups (ECGs) to help foster a diverse and inclusive workplace, which helps provide developmental opportunities, increase employee engagement, expand our presence and build our reputation. Diversity, equity and inclusion must be integrated into our organization as a priority that’s practiced by everyone and owned by our leaders.

Sheila Milton

“It makes good business sense for our credit union leaders and employees to reflect the members we’re serving. Diversity leads to better service, greater innovation, better solutions, increased membership, and an enriched member and employee experience – all of which help make our credit union strong and sustainable.

“We’re on a journey. We’re proud of the work we’ve done so far, and we believe we are on the right track, but the journey never ends. We need to lean in and stay on track; our credit union’s success depends on it.”

The UW Credit Union branch on Fish Hatchery Road

2019 Financials


UW Credit Union continues to operate as a strong, stable and well-capitalized financial institution.

We ended 2019 with total deposits at $2.75 billion and total loans at $2.50 billion. Total assets stood at $3.33 billion, an 18% increase over 2018. Our net income grew by 30% to $45.3 million. Total reserves stood at $332 million.

Our mortgage lending increased to $962 million, setting a new record and contributing greatly to our overall lending numbers. In addition, low rates made refinancing a popular option for existing homeowners. Total home loan refinancing stood at $391.6 million, a 206% increase over 2018.

As our membership grows, we remain focused on steadily increasing our checking account relationships, which supports our capital growth and stability. Compared to other credit unions, our numbers are among the best in the nation. We service 214,449 checking accounts, putting us in the 99th percentile and the 39th spot for checking accounts nationwide.


Total Assets

UWCU Total Assets 2019: $3,331,481,000

Mortgage Lending

UWCU Mortgages in 2019: $961,909,000

Loans Outstanding

UWCU Loans Outstanding in 2019: $2,499,466,000

Checking Accounts Served

UWCU Checking Accounts Served in 2019: 214,449

A Message from the CEO

Dear Fellow Members:

Some good news. UW Credit Union continues to thrive as an employer, a local lender, a financial advisor, a community partner.

While we wear many hats, we do it well, and our organization is as strong as it’s ever been.

There were many proud moments in 2019. We surpassed the tremendous milestone of $3 billion in assets. We were recognized as a Top Workplace by the Wisconsin State Journal. We opened two new branches in the greater Madison area. We benefited our communities with more than $1 million in donations to local causes. We took bold steps in our commitment to become a more diverse, equitable and inclusive organization.

Among all our achievements, perhaps our biggest accomplishment came in the form of feedback from members during our biennial membership survey.

Every two years, we conduct in-depth member research to gauge our performance across a range of metrics. Results from the 2019 survey are the best we’ve seen, with top rankings for loyalty and satisfaction that far exceed our previous results and rank among the best of our industry nationwide.

We can directly attribute our survey success to the friendly service and skills of our staff, as well as the world-class technology offered in Web Branch. The results prove how we stand apart from the competition and are second to none when it comes to service and technology.

UW Credit Union continues to innovate and explore new ways to serve members, as well as ensure our long-term resiliency and success. We want to be here for our membership for generations. This means continuing to invest in robust technology and security, new branch locations, thoughtful talent recruitment and invaluable products and services.

It’s an exciting time to be part of UW Credit Union. Thank you for your support and for sharing the journey with us.


Paul Kundert Signature

Paul Kundert
President & CEO

Paul Kundert, President & CEO