RED WING CREDIT UNION: Form 990, tax year 2022

View the entire original 990 at ProPublica ↗

Organization: RED WING CREDIT UNION (EIN 41-0793629)
Tax period: 2022-01-01 to 2022-12-31
Filed: 2023-09-11
IRS object ID: 202342549349301489
Schema version: 2022v5.0
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule D
Schedule J
Schedule L
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2023-09-11T18:14:30-05:00	ReturnTs
Tax Period End	2022-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	410746749	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	CLIFTONLARSONALLEN LLP	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	109 N MAIN STREET SUITE 200	AddressLine1Txt
City	AUSTIN	CityNm
State Abbreviation	MN	StateAbbreviationCd
ZIP	55912	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2022-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	410793629	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	RED WING CREDIT UNION	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	REDW	BusinessNameControlTxt
Phone	6513887133	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	3303 NORTH SERVICE DRIVE	AddressLine1Txt
City	RED WING	CityNm
State Abbreviation	MN	StateAbbreviationCd
ZIP	55066	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	AARON S DEJONG	PersonNm
Person Title	PRESIDENT	PersonTitleTxt
Phone	6513887133	PhoneNum
Signature	2023-08-30	SignatureDt
Discuss With Paid Preparer	Yes (1)	DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Field	Value	IRS element (for citing)
Person First	AARON	PersonFirstNm
Person Last	DEJONG	PersonLastNm

Field	Value	IRS element (for citing)
SSN	999009999	SSN

Field	Value	IRS element (for citing)
IRS Responsible Prty Info Curr	0	IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	TANYA MEDGAARDEN	PreparerPersonNm
PTIN	P01717240	PTIN
Phone	5074347000	PhoneNum
Preparation	2023-08-30	PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

Field	Value	IRS element (for citing)
Trusted Customer	2	TrustedCustomerCd
Authentication Assurance Level	AAL1	AuthenticationAssuranceLevelCd
Identity Assurance Level	IAL1	IdentityAssuranceLevelCd

Field	Value	IRS element (for citing)
Tax	2022	TaxYr
Build TS	2023-04-26 12:10:37Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	AARON S DEJONG	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	3303 NORTH SERVICE DRIVE	AddressLine1Txt
City	RED WING	CityNm
State Abbreviation	MN	StateAbbreviationCd
ZIP	55066	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$6,760,432	GrossReceiptsAmt
Group Return For Affiliates	0	GroupReturnForAffiliatesInd
Organization501c	Yes (X)	Organization501cInd
Website Address	WWW.REDWINGCU.COM	WebsiteAddressTxt
Type Of Organization Other	Yes (X)	TypeOfOrganizationOtherInd
Other Organization Dsc	CU	OtherOrganizationDsc
Formation	1954	FormationYr
Legal Domicile State	MN	LegalDomicileStateCd
Activity Or Mission	TO PROVIDE LENDING, SAVINGS, AND OTHER FINANCIAL SERVICES TO ITS QUALIFYING MEMBERS AT TERMS GENERALLY BETTER THAN AVAILABLE IN THE MARKETPLACE AND WITH A "SERVICE-BASED EMPHASIS" THAT RECOGNIZES THE MEMBERS' STATUS AS "OWNER".	ActivityOrMissionDesc
Voting Members Governing Body	7	VotingMembersGoverningBodyCnt
Voting Members Independent	7	VotingMembersIndependentCnt
Total Employee	35	TotalEmployeeCnt
Total Volunteers	10	TotalVolunteersCnt
Total Gross UBI	$2,501	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$0	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$0	PYContributionsGrantsAmt
CY Contributions Grants	$0	CYContributionsGrantsAmt
PY Program Service Revenue	$5,583,366	PYProgramServiceRevenueAmt
CY Program Service Revenue	$5,653,934	CYProgramServiceRevenueAmt
PY Investment Income	$471,828	PYInvestmentIncomeAmt
CY Investment Income	$1,086,723	CYInvestmentIncomeAmt
PY Other Revenue	$0	PYOtherRevenueAmt
CY Other Revenue	$0	CYOtherRevenueAmt
PY Total Revenue	$6,055,194	PYTotalRevenueAmt
CY Total Revenue	$6,740,657	CYTotalRevenueAmt
PY Grants And Similar Paid	$0	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$0	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$533,207	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$649,319	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$1,713,384	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$1,956,998	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$2,013,326	PYOtherExpensesAmt
CY Other Expenses	$1,800,229	CYOtherExpensesAmt
PY Total Expenses	$4,259,917	PYTotalExpensesAmt
CY Total Expenses	$4,406,546	CYTotalExpensesAmt
PY Revenues Less Expenses	$1,795,277	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$2,334,111	CYRevenuesLessExpensesAmt
Total Assets BOY	$161,603,708	TotalAssetsBOYAmt
Total Assets EOY	$168,614,210	TotalAssetsEOYAmt
Total Liabilities BOY	$145,767,519	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$155,967,684	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$15,836,189	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$12,646,526	NetAssetsOrFundBalancesEOYAmt
Mission	TO PROVIDE LENDING, SAVINGS, AND OTHER FINANCIAL SERVICES TO ITS QUALIFYING MEMBERS AT TERMS GENERALLY BETTER THAN AVAILABLE IN THE MARKETPLACE AND WITH A "SERVICE-BASED EMPHASIS" THAT RECOGNIZES THE MEMBERS' STATUS AS "OWNER".	MissionDesc
Significant New Program Srvc	0	SignificantNewProgramSrvcInd
Significant Change	0	SignificantChangeInd
Desc	THE RED WING CREDIT UNION PRESENTLY HAS 3,809 CONSUMER LOANS IN SERVICE FOR A TOTAL VOLUME OF $89,186,640. THE CREDIT UNION ALSO HAS 72 COMMERCIAL LOANS FOR ATOTAL VOLUME OF $7,705,160. WE ALSO HAVE 1,189 VISA LOAN ACCOUNTS IN SERVICE FOR A TOTAL VOLUME OF $1,571,870. THE INTEREST RATES CHARGED ON THESE LOANS IS WELLBELOW THAT OF OUR LOCAL COMPETITION.	Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

Field	Value	IRS element (for citing)
Desc	THE RED WING CREDIT UNION OFFERS SAVINGS DEPOSIT RATES THAT ARE GENERALLY HIGHER THAN OUR LOCAL COMPETITION. WE OFFER BOTH REGULAR AND IRA CERTIFICATES OF DEPOSIT.	Desc

Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp

Field	Value	IRS element (for citing)
Desc	THE RED WING CREDIT UNION OFFERS VARIOUS CHECKING ACCOUNTS THAT ARE VERY COMPETITIVELY PRICED IN OUR LOCAL MARKET. ALL OUR FEES ARE LOWER THAN THE COMPETITION. IN GENERAL, WE OFFER BETTER PRODUCTS AT A BETTER PRICE.	Desc

Field	Value	IRS element (for citing)
Described In Section501c3	0	DescribedInSection501c3Ind
Schedule B Required	0	ScheduleBRequiredInd
Political Campaign Acty	0	PoliticalCampaignActyInd
Subject To Proxy Tax	0	SubjectToProxyTaxInd
Donor Advised Fund	0	DonorAdvisedFundInd
Conservation Easements	0	ConservationEasementsInd
Collections Of Art	0	CollectionsOfArtInd
Credit Counseling	0	CreditCounselingInd
Donor Rstr Or Quasi Endowments	0	DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment	Yes (1)	ReportLandBuildingEquipmentInd
Report Investments Other Sec	Yes (1)	ReportInvestmentsOtherSecInd
Report Program Related Invst	0	ReportProgramRelatedInvstInd
Report Other Assets	0	ReportOtherAssetsInd
Report Other Liabilities	Yes (1)	ReportOtherLiabilitiesInd
Include FIN48 Footnote	Yes (1)	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	0	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	0	ConsolidatedAuditFinclStmtInd
School Operating	0	SchoolOperatingInd
Foreign Office	0	ForeignOfficeInd
Foreign Activities	0	ForeignActivitiesInd
More Than5000 K To Org	0	MoreThan5000KToOrgInd
More Than5000 K To Individuals	0	MoreThan5000KToIndividualsInd
Professional Fundraising	0	ProfessionalFundraisingInd
Fundraising Activities	0	FundraisingActivitiesInd
Gaming Activities	0	GamingActivitiesInd
Operate Hospital	0	OperateHospitalInd
Grants To Organizations	0	GrantsToOrganizationsInd
Grants To Individuals	0	GrantsToIndividualsInd
Schedule J Required	Yes (1)	ScheduleJRequiredInd
Tax Exempt Bonds	0	TaxExemptBondsInd
Loan Outstanding	Yes (1)	LoanOutstandingInd
Grant To Related Person	0	GrantToRelatedPersonInd
Business Rln With Org Mem	0	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	0	BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent	0	BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri	0	DeductibleNonCashContriInd
Deductible Art Contribution	0	DeductibleArtContributionInd
Terminate Operations	0	TerminateOperationsInd
Partial Liquidation	0	PartialLiquidationInd
Disregarded Entity	0	DisregardedEntityInd
Related Entity	0	RelatedEntityInd
Related Organization Ctrl Ent	0	RelatedOrganizationCtrlEntInd
Activities Conducted Prtshp	0	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (1)	ScheduleORequiredInd
IRP Document	3822	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Employee	35	EmployeeCnt
Employment Tax Returns Filed	Yes (1)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	Yes (1)	UnrelatedBusIncmOverLimitInd
Form990 T Filed	Yes (1)	Form990TFiledInd
Foreign Financial Account	0	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTransInd
Taxable Party Notification	0	TaxablePartyNotificationInd
Nondeductible Contributions	0	NondeductibleContributionsInd
Rcv Fnds To Pay Prsnl Bnft Cntrct	0	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	0	PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services	0	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	0	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	0	SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	7	GoverningBodyVotingMembersCnt
Independent Voting Member	7	IndependentVotingMemberCnt
Family Or Business Rln	0	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	0	DelegationOfMgmtDutiesInd
Change To Org Documents	0	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	0	MaterialDiversionOrMisuseInd
Members Or Stockholders	Yes (1)	MembersOrStockholdersInd
Election Of Board Members	Yes (1)	ElectionOfBoardMembersInd
Decisions Subject To Approva	0	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (1)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (1)	MinutesOfCommitteesInd
Officer Mailing Address	0	OfficerMailingAddressInd
Local Chapters	0	LocalChaptersInd
Form990 Provided To Gvrn Body	Yes (1)	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	Yes (1)	ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn	0	AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc	0	RegularMonitoringEnfrcInd
Whistleblower Policy	0	WhistleblowerPolicyInd
Document Retention Policy	Yes (1)	DocumentRetentionPolicyInd
Compensation Process CEO	Yes (1)	CompensationProcessCEOInd
Compensation Process Other	0	CompensationProcessOtherInd
Investment In Joint Venture	0	InvestmentInJointVentureInd
States Where Copy Of Return Is Fld	MN	StatesWhereCopyOfReturnIsFldCd
Own Website	Yes (X)	OwnWebsiteInd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Field	Value	IRS element (for citing)
Person	STACEY STEIN	PersonNm
Phone	6512674215	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	3303 NORTH SERVICE DRIVE	AddressLine1Txt
City	RED WING	CityNm
State Abbreviation	MN	StateAbbreviationCd
ZIP	55066	ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (9 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	OfficerOfficerInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt
DARYL MARK
CHAIR	0.30	Yes (X)	Yes (X)	$550	$0	$0
DAVID HULL
DIRECTOR	0.30	Yes (X)		$350	$0	$0
PAUL IRWIN
DIRECTOR	0.30	Yes (X)		$550	$0	$0
TAMMY WADLEY
VICE CHAIR	0.30	Yes (X)	Yes (X)	$400	$0	$0
TONY SEYFFER
DIRECTOR	0.30	Yes (X)		$400	$0	$0
STACY BYSTROM
DIRECTOR	0.30	Yes (X)		$400	$0	$0
SHIRLEY PERKINS
SECRETARY	0.30	Yes (X)	Yes (X)	$400	$0	$0
AARON DEJONG
PRESIDENT	40.00		Yes (X)	$290,026	$0	$13,393
STACEY HINRICHS S
CFO	40.00		Yes (X)	$108,866	$0	$20,450

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$401,942	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$33,843	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	2	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	0	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	Yes (1)	TotalCompGreaterThan150KInd
Compensation From Other Srcs	0	CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp

Contractor Name ContractorName

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	FISERV	BusinessNameLine1Txt

Contractor Address ContractorAddress

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	455 WOMDOMG BROOK DRIVE	AddressLine1Txt
City	GLASTONBURY	CityNm
State Abbreviation	CT	StateAbbreviationCd
ZIP	06033	ZIPCd

Field	Value	IRS element (for citing)
Services	DATA PROCESSOR	ServicesDesc
Compensation	$561,545	CompensationAmt

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	1	CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp (3 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt	Unrelated Business RevenueUnrelatedBusinessRevenueAmt
LOAN INTEREST	522100	$4,073,975	$4,073,975
OTHER OPERATING INCOME	524298	$1,305,478	$1,305,478
FEES & CHARGES	522100	$274,481	$271,980	$2,501

Field	Value	IRS element (for citing)
Total Program Service Revenue	$5,653,934	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$1,078,498	TotalRevenueColumnAmt
Exclusion	$1,078,498	ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

Field	Value	IRS element (for citing)
Other	$28,000	OtherAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

Field	Value	IRS element (for citing)
Other	$19,775	OtherAmt

Gain Or Loss GainOrLossGrp

Field	Value	IRS element (for citing)
Other	$8,225	OtherAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$8,225	TotalRevenueColumnAmt
Exclusion	$8,225	ExclusionAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$6,740,657	TotalRevenueColumnAmt
Related Or Exempt Func Income	$5,651,433	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$2,501	UnrelatedBusinessRevenueAmt
Exclusion	$1,086,723	ExclusionAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part IX	Yes (X)	InfoInScheduleOPartIXInd

Benefits To Members BenefitsToMembersGrp

Field	Value	IRS element (for citing)
Total	$649,319	TotalAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

Field	Value	IRS element (for citing)
Total	$435,785	TotalAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$1,017,385	TotalAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$63,820	TotalAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$333,361	TotalAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$106,647	TotalAmt

Fees For Services Legal FeesForServicesLegalGrp

Field	Value	IRS element (for citing)
Total	$1,530	TotalAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$25,389	TotalAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$493,309	TotalAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$71,753	TotalAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$472,664	TotalAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$94,116	TotalAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$45,395	TotalAmt

Interest InterestGrp

Field	Value	IRS element (for citing)
Total	$68	TotalAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$190,705	TotalAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt
LOAN SERVICING	$351,186
MISCELLANEOUS	$60,799
STATE EXAMINATION	$11,586
PROVISION FOR LOAN LOSS	-$18,271

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$4,406,546	TotalAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$955,705	BOYAmt
EOY	$1,192,155	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$15,098,268	BOYAmt
EOY	$3,646,783	EOYAmt

Accounts Receivable AccountsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$844,813	BOYAmt
EOY	$582,761	EOYAmt

Receivables From Officers Etc ReceivablesFromOfficersEtcGrp

Field	Value	IRS element (for citing)
BOY	$1,001,773	BOYAmt
EOY	$985,201	EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

Field	Value	IRS element (for citing)
BOY	$91,678,339	BOYAmt
EOY	$98,164,911	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$2,424,855	BOYAmt
EOY	$1,639,640	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$4,484,002	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$2,134,460	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$2,507,035	BOYAmt
EOY	$2,349,542	EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$32,901,987	BOYAmt
EOY	$45,633,529	EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

Field	Value	IRS element (for citing)
BOY	$10,921,000	BOYAmt
EOY	$10,425,000	EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

Field	Value	IRS element (for citing)
BOY	$100,000	BOYAmt
EOY	$200,000	EOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$3,169,933	BOYAmt
EOY	$3,794,688	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$161,603,708	BOYAmt
EOY	$168,614,210	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$301,134	BOYAmt
EOY	$239,610	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$145,466,385	BOYAmt
EOY	$155,728,074	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$145,767,519	BOYAmt
EOY	$155,967,684	EOYAmt

Field	Value	IRS element (for citing)
Org Does Not Follow FASB117	Yes (X)	OrgDoesNotFollowFASB117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

Field	Value	IRS element (for citing)
BOY	$15,836,189	BOYAmt
EOY	$12,646,526	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$15,836,189	BOYAmt
EOY	$12,646,526	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$161,603,708	BOYAmt
EOY	$168,614,210	EOYAmt

Field	Value	IRS element (for citing)
Reconcilation Revenue Expnss	$2,334,111	ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst	-$5,523,774	NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets	$0	OtherChangesInNetAssetsAmt
Info In Schedule O Part XII	Yes (X)	InfoInScheduleOPartXIIInd
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	0	AccountantCompileOrReviewInd
FS Audited	Yes (1)	FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

Field	Value	IRS element (for citing)
Separate Basis Fincl Stmt	Yes (X)	SeparateBasisFinclStmtInd

Field	Value	IRS element (for citing)
Audit Committee	Yes (1)	AuditCommitteeInd
Federal Grant Audit Required	0	FederalGrantAuditRequiredInd

Schedule D IRS990ScheduleD

Land LandGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$180,000	OtherCostOrOtherBasisAmt
Book Value	$180,000	BookValueAmt

Buildings BuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$3,099,151	OtherCostOrOtherBasisAmt
Depreciation	$1,160,841	DepreciationAmt
Book Value	$1,938,310	BookValueAmt

Equipment EquipmentGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$1,204,851	OtherCostOrOtherBasisAmt
Depreciation	$973,619	DepreciationAmt
Book Value	$231,232	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$2,349,542	TotalBookValueLandBuildingsAmt

Other Securities OtherSecuritiesGrp (2 entries)

DescDesc	Book ValueBookValueAmt	Method ValuationMethodValuationCd
INVESTMENTS - HELD TO MATURITY SECURITIES	$493,000	C
INVESTMENTS - OTHER FINANCIAL INSTITUTIONS	$9,932,000	C

Field	Value	IRS element (for citing)
Total Book Value Securities	$10,425,000	TotalBookValueSecuritiesAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

Field	Value	IRS element (for citing)
Desc	MEMBER SHARES OF ALL TYPES	Desc
Amt	$155,728,074	Amt

Field	Value	IRS element (for citing)
Total Liability	$155,728,074	TotalLiabilityAmt
Footnote Text	Yes (X)	FootnoteTextInd

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	PART X, LINE 2:	FormAndLineReferenceDesc
Explanation	AS ALLOWED BY STATE REGULATORY AUTHORITIES, THE AUDIT IS DONE AS OF MARCH 31. THE REPORTING PERIOD FOR THE AUDIT, THEREFORE, DOES NOT MATCH THE REPORTING PERIOD FOR THE 990. PER FOOTNOTE 1 IN THE CREDIT UNION'S MARCH 31, 2022 AUDITED FINANCIAL STATEMENTS, THE CREDIT UNION IS EXEMPT, UNDER IRC SECTION 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES THEY HAVE DEEMED TAXABLE AND HAS A MINIMAL NET OPERATING LOSS CARRYFORWARD. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN IS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF MARCH 31, 2022 AND 2021. THE CREDIT UNION'S 2019 AND SUBSEQUENT TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES.	ExplanationTxt

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Compensation Committee	Yes (X)	CompensationCommitteeInd
Compensation Survey	Yes (X)	CompensationSurveyInd
Board Or Committee Approval	Yes (X)	BoardOrCommitteeApprovalInd
Severance Payment	0	SeverancePaymentInd
Supplemental Nonqual Rtr Plan	Yes (1)	SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm	0	EquityBasedCompArrngmInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp

Field	Value	IRS element (for citing)
Person	AARON DEJONG	PersonNm
Title	PRESIDENT	TitleTxt
Base Compensation Filing Org	$264,476	BaseCompensationFilingOrgAmt
Compensation Based On Rltd Orgs	$0	CompensationBasedOnRltdOrgsAmt
Bonus Filing Organization	$25,550	BonusFilingOrganizationAmount
Bonus Related Organizations	$0	BonusRelatedOrganizationsAmt
Other Compensation Filing Org	$0	OtherCompensationFilingOrgAmt
Other Compensation Rltd Orgs	$0	OtherCompensationRltdOrgsAmt
Deferred Compensation Flng Org	$12,452	DeferredCompensationFlngOrgAmt
Deferred Comp Rltd Orgs	$0	DeferredCompRltdOrgsAmt
Nontaxable Benefits Filing Org	$941	NontaxableBenefitsFilingOrgAmt
Nontaxable Benefits Rltd Orgs	$0	NontaxableBenefitsRltdOrgsAmt
Total Compensation Filing Org	$303,419	TotalCompensationFilingOrgAmt
Total Compensation Rltd Orgs	$0	TotalCompensationRltdOrgsAmt
Comp Report Prior990 Filing Org	$0	CompReportPrior990FilingOrgAmt
Comp Report Prior990 Rltd Orgs	$0	CompReportPrior990RltdOrgsAmt

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
PART I, LINE 3	THE PROCESS USED TO SET THE CEO'S ANNUAL SALARY IS BASED ON A COMBINATION OF COMPARISON TO COMPARABLE SIZED CREDIT UNIONS THROUGH THE USE OF CUNA'S ANNUAL COMPENSATION SURVEY AND THE CURRENT YEAR PERFORMANCE EVALUATION. THE PROCESS IS PERFORMED BY THE PERSONNEL COMMITTEE AND PRESENTED TO THE FULL BOARD FOR APPROVAL. THIS PROCESS IS COMPLETED ON AN ANNUAL BASIS BASED ON CEO HIRE DATE.
PART I, LINE 4B	NAME: AARON DEJONG, DESCRIPTION: 457(F), CURRENT YEAR AMOUNT: $37,524. PLAN DESCRIPTION: DEFERRED COMPENSATION

Schedule L IRS990ScheduleL

Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp

Field	Value	IRS element (for citing)
Person	AARON S DEJONG	PersonNm
Relationship With Org	PRESIDENT	RelationshipWithOrgTxt
Loan Purpose	SPLIT-DOLLAR LIFE INSURANCE UNDER REG 1.7872-15	LoanPurposeTxt
Loan From Organization	Yes (X)	LoanFromOrganizationInd
Original Principal	$900,000	OriginalPrincipalAmt
Balance Due	$985,201	BalanceDueAmt
Default	0	DefaultInd
Board Or Committee Approval	Yes (1)	BoardOrCommitteeApprovalInd
Written Agreement	Yes (1)	WrittenAgreementInd

Field	Value	IRS element (for citing)
Total Balance Due	$985,201	TotalBalanceDueAmt

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	SCHEDULE L, PART II	FormAndLineReferenceDesc
Explanation	NOTED THIS TO BE A NON-RECOURSE PLAN THAT IS RECORDED ON THE BALANCE SHEET AT THE LOWER OF LOAN BALANCE OR CASH SURRENDER VALUE. BECAUSE THE CASH SURRENDER VALUE WAS LOWER, WE REPORTED THE AMOUNT OF 985,201 FOR BALANCE SHEET PURPOSES. HOWEVER, THE ACTUAL LOAN BALANCE IS $1,133,268.	ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (8 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 6	A MEMBER OF THE RED WING CREDIT UNION MUST LIVE IN OR DO BUSINESS, ATTEND SCHOOL OR CHURCH IN GOODHUE COUNTY, MINNESOTA, USA. THEY MUST OPEN A SHARE ACCOUNT FOR AT LEAST $25.00. THIS ENTITLES THEM TO ONE VOTE AT THE CREDIT UNION'S ANNUAL BUSINESS MEETING. MEMBERS ARE ENTITLED TO BE PAID DIVIDENDS ON THEIR SAVINGS AT A RATE DETERMINED BY THE BOARD OF DIRECTORS EACH MONTH AT THEIR REGULAR BOARD OF DIRECTORS MEETING. RED WING CREDIT UNION HAS ONE CLASS OF MEMBERSHIP.
FORM 990, PART VI, SECTION A, LINE 7A	DIRECTORS ARE ELECTED FOR THREE YEAR TERMS BY THE MEMBERSHIP AT THE CREDIT UNION'S ANNUAL BUSINESS MEETING WHICH IS ANNOUNCED IN ADVANCE IN THE CREDIT UNION'S NEWSLETTER AS WELL AS POSTED AT THE CREDIT UNION OFFICE AND ON ITS WEB PAGE.
FORM 990, PART VI, SECTION B, LINE 11B	PRIOR TO BEING FILED WITH THE IRS, FORM 990 AND RELATED SCHEDULES ARE REVIEWED BY THE BOARD OF DIRECTORS AT A BOARD MEETING.
FORM 990, PART VI, SECTION B, LINE 15A	THE PROCESS USED TO SET THE CEO'S ANNUAL SALARY IS BASED ON A COMBINATION OF COMPARISON TO COMPARABLE SIZED CREDIT UNIONS THROUGH THE USE OF CUNA'S ANNUAL COMPENSATION SURVEY AND THE CURENT YEAR PERFORMANCE EVALUATION. THE PROCESS IS PERFORMED BY THE PERSONNEL COMMITTEE AND PRESENTED TO THE FULL BOARD FOR APPROVAL. THIS PROCESS IS COMPLETED ON AN ANNUAL BASIS BASED ON CEO HIRE DATE.
FORM 990, PART VI, SECTION C, LINE 19	FINANCIAL STATEMENTS ARE AVAILABLE AT THE OFFICE UPON REQUEST AND ARE DISTRIBUTED TO MEMBERS AT THE ANNUAL MEETING.
FORM 990, PART IX, LINE 11G	OTHER PROFESSIONAL AND OUTSIDE SERVICE FEES 268,771. DATA PROCESSING FEES 224,538.
FORM 990, PART XII, LINE 2A AND 2B:	AS ALLOWED BY STATE REGULATORY AUTHORITIES, THE AUDIT IS DONE AS OF MARCH 31. THE REPORTING PERIOD FOR THE AUDIT, THEREFORE, DOES NOT MATCH THE REPORTING PERIOD FOR THE 990.
FORM 990, PART XII, LINE 2C:	THE SUPERVISORY COMMITTEE OVERSEES THE AUDIT AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT.