MEMBERS COOPERATIVE CREDIT UNION: Form 990, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- MEMBERS COOPERATIVE CREDIT UNION (EIN 41-0195345)
- Tax period
- 2021-01-01 to 2021-12-31
- Filed
- 2022-11-15
- IRS object ID
- 202243199349305769
- Schema version
- 2021v4.2
- 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 ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2022-11-15T09:26:19-06:00 | ReturnTs |
| Tax Period End | 2021-12-31 | 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 | 2021-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 410195345 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MEMBERS COOPERATIVE CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | MEMB | BusinessNameControlTxt |
| Phone | 2186258500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4628 MIKE COLALILLO DRIVE | AddressLine1Txt |
| City | DULUTH | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55807 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | RALPH HAMANN | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 2186258500 | PhoneNum |
| Signature | 2022-11-09 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | RALPH | PersonFirstNm |
| Person Last | HAMANN | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | TANYA MEDGAARDEN | PreparerPersonNm |
| PTIN | P01717240 | PTIN |
| Phone | 5074347000 | PhoneNum |
| Preparation | 2022-11-08 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | STEVE EWERS | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4628 MIKE COLALILLO DRIVE | AddressLine1Txt |
| City | DULUTH | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55807 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $73,864,346 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.MEMBERSCCU.ORG | WebsiteAddressTxt |
| Type Of Organization Other | Yes (X) | TypeOfOrganizationOtherInd |
| Other Organization Dsc | CREDIT UNION | OtherOrganizationDsc |
| Formation | 1936 | FormationYr |
| Legal Domicile State | MN | LegalDomicileStateCd |
| Activity Or Mission | TO CONDUCT THE ORDINARY AND NECESSARY BUSINESS OF A CREDIT UNION INVOLVING THE RECEIVING OF SAVINGS OF MEMBERS AND LENDING MONEY TO MEMBERS FOR PROVIDENT PURPOSES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 10 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 10 | VotingMembersIndependentCnt |
| Total Employee | 275 | TotalEmployeeCnt |
| Total Volunteers | 1 | TotalVolunteersCnt |
| Total Gross UBI | $313,426 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $15,893 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $42,056,536 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $43,947,517 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,317,363 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,252,941 | CYInvestmentIncomeAmt |
| PY Other Revenue | $461,155 | PYOtherRevenueAmt |
| CY Other Revenue | $507,579 | CYOtherRevenueAmt |
| PY Total Revenue | $43,835,054 | PYTotalRevenueAmt |
| CY Total Revenue | $45,708,037 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $166,626 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $232,717 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $6,380,259 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $5,461,642 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $16,376,593 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $18,042,459 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $14,207,841 | PYOtherExpensesAmt |
| CY Other Expenses | $14,598,117 | CYOtherExpensesAmt |
| PY Total Expenses | $37,131,319 | PYTotalExpensesAmt |
| CY Total Expenses | $38,334,935 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $6,703,735 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $7,373,102 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $927,228,890 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,064,400,556 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $824,704,539 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $956,025,967 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $102,524,351 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $108,374,589 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO MAKE OUR COMMUNITIES STRONGER, OUR EMPLOYEES HAPPIER, AND OUR WORLD BETTER. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | DIVIDENDS AND INTEREST OF $5.46 MILLION WAS PAID TO MEMBERS IN 2021 ON 120,375 DEPOSIT ACCOUNTS. WE STRIVE TO OFFER COMPETITVE RATES TO OUR MEMBERS. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | 35,146 LOANS TOTALING OVER $737 MILLION WERE ACTIVE FOR CONSUMER, MORTGAGE AND COMMERCIAL LOANS. OUR GOAL IS TO OFFER LOANS AT REASONABLE RATES TO OUR MEMBERS. WE ASLO PROVIDE INDIRECT LOANS TO CUSTOMERS OF AUTO DEALERSHIPS IN THE AREA AT COMPETITIVE RATES. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | AVAILABILITY OF 13 OF OUR OWN ATM'S AS WELL AS A LARGE NETWORK OF ATM'S NATION AND WORLD WIDE TO OUR MEMBERS AND NON-MEMBERS. WE WANT TO OFFER CONVENIENCE TO OUR MEMBERS AFTER HOURS AND AWAY FROM HOME. | 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 | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | 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 | Yes (1) | 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 | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | 0 | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 11678 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 275 | 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 |
| 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 | 10 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 10 | 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 | Yes (1) | 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 | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | MN | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | STEVE EWERS | PersonNm |
| Phone | 2186258500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4628 MIKE COLALILLO DRIVE | AddressLine1Txt |
| City | DULUTH | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55807 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (23 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| JOHN GILBERT | ||||||||
| DIRECTOR | 7.90 | Yes (X) | $6,169 | $0 | $0 | |||
| RUSS SALGY | ||||||||
| DIRECTOR | 7.40 | Yes (X) | $5,808 | $0 | $0 | |||
| TESS DANDREA | ||||||||
| DIRECTOR | 5.30 | Yes (X) | $4,138 | $0 | $0 | |||
| DORIS DAHL | ||||||||
| CHAIR | 5.30 | Yes (X) | $4,111 | $0 | $0 | Yes (X) | ||
| NICOLE BARKER | ||||||||
| BOARD SECRETARY & TREASURER | 5.20 | Yes (X) | $4,069 | $0 | $0 | Yes (X) | ||
| DIANNE CARLSON | ||||||||
| DIRECTOR | 3.30 | Yes (X) | $2,607 | $0 | $0 | |||
| MATT RAJALA | ||||||||
| DIRECTOR | 3.30 | Yes (X) | $2,581 | $0 | $0 | |||
| DAVID VUKELICH | ||||||||
| BOARD VICE CHAIR | 3.00 | Yes (X) | $2,306 | $0 | $0 | Yes (X) | ||
| GERALD TELKER | ||||||||
| DIRECTOR | 2.10 | Yes (X) | $1,675 | $0 | $0 | |||
| JENNIE SIEBERT | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $1,525 | $0 | $0 | |||
| TIM CAROLINE | ||||||||
| DIRECTOR | 1.50 | Yes (X) | $1,163 | $0 | $0 | |||
| ANDREW JOE ADDY | ||||||||
| DIRECTOR | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| STEPHEN EWERS | ||||||||
| PRESIDENT/CEO | 55.00 | $455,460 | $0 | $27,375 | Yes (X) | |||
| RALPH HAMANN | ||||||||
| CFO/CHRO | 50.00 | $315,807 | $0 | $57,375 | Yes (X) | |||
| JANET VOLD | ||||||||
| CIO/COO | 50.00 | $328,065 | $0 | $61,807 | Yes (X) | |||
| SIMONE SURI | ||||||||
| GENERAL COUNSEL | 45.00 | $296,979 | $0 | $48,617 | Yes (X) | |||
| STEPHAN GLONCHAK | ||||||||
| CHIEF LENDING OFFICER | 45.00 | $290,897 | $0 | $29,311 | Yes (X) | |||
| RYANNE BATTAGLIA | ||||||||
| CMO | 45.00 | $250,240 | $0 | $25,340 | Yes (X) | |||
| CORY STENSON | ||||||||
| MORTGAGE MANAGER | 45.00 | $167,714 | $0 | $28,307 | Yes (X) | |||
| NEIL SAMPLE | ||||||||
| BUSINESS SERVICE MANAGER | 45.00 | $147,132 | $0 | $16,105 | Yes (X) | |||
| ANDY JONESON | ||||||||
| VP IT | 45.00 | $142,656 | $0 | $20,050 | Yes (X) | |||
| DAVE KAUMA | ||||||||
| CONTROLLER | 45.00 | $119,818 | $0 | $33,039 | Yes (X) | |||
| KATHERINE STROMBERG | ||||||||
| VP BRANCH OPERATIONS | 45.00 | $125,850 | $0 | $15,954 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,676,770 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $363,280 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 11 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| FISERV | |||||
| PO BOX 934057 | ATLANTA | GA | 31193 | ANNUAL SOFTWARE MAINTENANCE | $2,414,576 |
| SERVION COMMERCIAL LOAN SERVICES | |||||
| 500 MAIN STREET | NEW BRIGHTON | MN | 55112 | LOAN SERVICING | $690,406 |
| COMPUDYNE | |||||
| 1524 E 37TH ST | HIBBING | MN | 55746 | COMPUTER SERVICE CONTRACT | $409,571 |
| ABRIGO | |||||
| PO BOX 677883 | DALLAS | TX | 75267 | COMPUTER SOFTWARE | $209,437 |
| EQUIFAX INFORMATION SVCS LLC | |||||
| PO BOX 71221 | CHARLOTTE | NC | 28272 | CONSUMER CREDIT REPORTING | $204,642 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 14 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| LOAN INTEREST INCOME | 522100 | $29,302,312 | $29,302,312 | |
| OTHER OPERATING INCOME | 524298 | $8,211,136 | $8,211,136 | |
| FEE INCOME | 522100 | $6,434,069 | $6,120,643 | $313,426 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $43,947,517 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,253,922 | TotalRevenueColumnAmt |
| Exclusion | $1,253,922 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $26,764,563 | SecuritiesAmt |
| Other | $1,390,765 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $26,764,563 | SecuritiesAmt |
| Other | $1,391,746 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | -$981 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$981 | TotalRevenueColumnAmt |
| Exclusion | -$981 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | GAIN ON 457 (B) & BOLI INVESTMENT | Desc |
| Business | 525100 | BusinessCd |
| Total Revenue Column | $507,579 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $507,579 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $507,579 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $45,708,037 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $44,141,670 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $313,426 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,252,941 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $232,717 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,461,642 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,223,425 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,367,095 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,566,979 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,766,255 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,118,705 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $63,580 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $131,434 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,498,988 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $508,718 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,658,016 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,394,459 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,518 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $223,252 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $464,256 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,831,307 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| MISCELLANEOUS OPERATING | $3,023,652 |
| LOAN SERVICING EXPENSE | $2,127,334 |
| OPERATING FEES | $36,948 |
| PROVISION FOR LOAN LOSS | -$379,345 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $38,334,935 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $43,024,578 | BOYAmt |
| EOY | $110,665,216 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $79,229,000 | BOYAmt |
| EOY | $1,245,000 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $94,830 | BOYAmt |
| EOY | $898,097 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,953,557 | BOYAmt |
| EOY | $9,212,698 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $617,159,375 | BOYAmt |
| EOY | $734,051,563 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $644,129 | BOYAmt |
| EOY | $2,551,365 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $47,634,764 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $17,152,951 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $30,573,857 | BOYAmt |
| EOY | $30,481,813 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $64,323,838 | BOYAmt |
| EOY | $94,379,727 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $23,672,284 | BOYAmt |
| EOY | $15,224,181 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,635,655 | BOYAmt |
| EOY | $9,868,113 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $50,917,787 | BOYAmt |
| EOY | $55,822,783 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $927,228,890 | BOYAmt |
| EOY | $1,064,400,556 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,938,481 | BOYAmt |
| EOY | $9,511,641 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,500,000 | BOYAmt |
| EOY | $17,500,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $797,266,058 | BOYAmt |
| EOY | $929,014,326 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $824,704,539 | BOYAmt |
| EOY | $956,025,967 | 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 | $102,524,351 | BOYAmt |
| EOY | $108,374,589 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $102,524,351 | BOYAmt |
| EOY | $108,374,589 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $927,228,890 | BOYAmt |
| EOY | $1,064,400,556 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $7,373,102 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$1,522,867 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $3 | 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 | $5,808,007 | OtherCostOrOtherBasisAmt |
| Book Value | $5,808,007 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $26,237,439 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,228,948 | DepreciationAmt |
| Book Value | $21,008,491 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $14,710,250 | OtherCostOrOtherBasisAmt |
| Depreciation | $11,302,293 | DepreciationAmt |
| Book Value | $3,407,957 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $875,373 | OtherCostOrOtherBasisAmt |
| Depreciation | $621,710 | DepreciationAmt |
| Book Value | $253,663 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,695 | OtherCostOrOtherBasisAmt |
| Book Value | $3,695 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $30,481,813 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (7 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| ACCRUED INTEREST | $2,177,305 |
| FORECLOSED AND REPOSSESSED ASSETS | $620,039 |
| OTHER ASSETS | $37,656,298 |
| LOANS HELD FOR SALE | $1,000,986 |
| INTANGIBLE ASSETS | $10,120 |
| 457(B) PLAN | $1,429,382 |
| BOLI INVESTMENTS | $12,928,653 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $55,822,783 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (6 entries)
| DescDesc | AmtAmt |
|---|---|
| SHARE SAVINGS | $250,567,534 |
| SHARE DRAFTS | $179,540,124 |
| MONEY MARKET | $231,138,320 |
| IRA DEPOSITS | $60,945,574 |
| SHARE & IRA CERTIFICATES | $177,794,695 |
| NON MEMBER DEPOSITS | $29,028,079 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $929,014,326 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $45,708,036 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $45,708,036 | RevenueSubtotalAmt |
| Other Revenues Not Included | $1 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $1 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $45,708,037 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $38,334,934 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | -$1 | OtherExpensesIncludedAmt |
| Expenses Not Reported | -$1 | ExpensesNotReportedAmt |
| Expenses Subtotal | $38,334,935 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $38,334,935 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | THE CREDIT UNION IS EXEMPT, BY IRC 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS FOR POTENTIAL TAXABLE ACTIVITIES, REMITTING, AND RECOGNIZING AS EXPENSE, FEDERAL AND STATE TAX RELATED ESTIMATE PAYMENTS, AS APPLICABLE. INCOME TAXES INCURRED, OR REFUNDS THEREOF, HAVE NOT BEEN MATERIAL TO DATE TO THE ENTITY. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES, AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES 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 HAS EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2021 AND 2020. THE CREDIT UNION'S 2018 THROUGH 2020 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | ROUNDING 1. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | ROUNDING -1. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (4 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| ENTREPRENEUR FUND | ||||||||
| 202 W SUPERIOR ST STE 311 | DULUTH | MN | 55802 | 363566632 | 501(C)(3) | $25,000 | $0 | ENVEST CAPITAL CAMPAIGN |
| GRANDMA'S MARATHON | ||||||||
| PO BOX 16234 | DULUTH | MN | 55816 | 411573627 | 501(C)(3) | $60,000 | $0 | GRANDMA'S MARATHON |
| DULUTH AIR SHOW | ||||||||
| 2110 W 1ST ST | DULUTH | MN | 55806 | 391647421 | 501(C)(3) | $15,000 | $0 | CORPORATE PARTNER AIR SHOW |
| UNIVERSITY OF MINNESOTA REGENTS | ||||||||
| NW 5960 PO BOX 1450 | MINNEAPOLIS | MN | 554855960 | 416007513 | STATE GOVERNMENT | $10,000 | $0 | SPONSOR UMD ATHLETICS |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 4 | Total501c3OrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION HAS A CONTRACT DEFINING THE TERMS OF THE SPONSORSHIP. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (10 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| STEPHEN EWERS | ||||||||||||||
| PRESIDENT/CEO | $404,168 | $0 | $0 | $0 | $51,292 | $0 | $0 | $0 | $27,375 | $0 | $482,835 | $0 | $0 | $0 |
| JANET VOLD | ||||||||||||||
| CIO/COO | $298,696 | $0 | $0 | $0 | $29,369 | $0 | $28,689 | $0 | $33,118 | $0 | $389,872 | $0 | $0 | $0 |
| RALPH HAMANN | ||||||||||||||
| CFO/CHRO | $275,118 | $0 | $0 | $0 | $40,689 | $0 | $29,000 | $0 | $28,375 | $0 | $373,182 | $0 | $0 | $0 |
| SIMONE SURI | ||||||||||||||
| GENERAL COUNSEL | $258,729 | $0 | $250 | $0 | $38,000 | $0 | $28,740 | $0 | $19,877 | $0 | $345,596 | $0 | $0 | $0 |
| STEPHAN GLONCHAK | ||||||||||||||
| CHIEF LENDING OFFICER | $257,835 | $0 | $250 | $0 | $32,812 | $0 | $27,798 | $0 | $1,513 | $0 | $320,208 | $0 | $0 | $0 |
| RYANNE BATTAGLIA | ||||||||||||||
| CMO | $226,154 | $0 | $0 | $0 | $24,086 | $0 | $23,827 | $0 | $1,513 | $0 | $275,580 | $0 | $0 | $0 |
| CORY STENSON | ||||||||||||||
| MORTGAGE MANAGER | $141,127 | $0 | $26,488 | $0 | $99 | $0 | $17,056 | $0 | $11,251 | $0 | $196,021 | $0 | $0 | $0 |
| NEIL SAMPLE | ||||||||||||||
| BUSINESS SERVICE MANAGER | $125,212 | $0 | $13,905 | $0 | $8,015 | $0 | $14,717 | $0 | $1,388 | $0 | $163,237 | $0 | $0 | $0 |
| ANDY JONESON | ||||||||||||||
| VP IT | $128,412 | $0 | $14,184 | $0 | $60 | $0 | $13,374 | $0 | $6,676 | $0 | $162,706 | $0 | $0 | $0 |
| DAVE KAUMA | ||||||||||||||
| CONTROLLER | $104,031 | $0 | $13,260 | $0 | $2,527 | $0 | $6,418 | $0 | $26,621 | $0 | $152,857 | $0 | $0 | $0 |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (4 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| TAMMY HEIKKINEN | |||||||
| CEO | SPLIT-DOLLAR LIFE INSURANCE UNDER REG 1.7872-15 | Yes (X) | $6,175,000 | $5,926,365 | 0 | Yes (1) | Yes (1) |
| JANET VOLD | |||||||
| VP OPERATIONS/IT | SPLIT-DOLLAR LIFE INSURANCE UNDER REG 1.7872-15 | Yes (X) | $600,000 | $661,312 | 0 | Yes (1) | Yes (1) |
| RALPH HAMANN | |||||||
| VP HR/FINANCE/CFO | SPLIT-DOLLAR LIFE INSURANCE UNDER REG 1.7872-15 | Yes (X) | $900,000 | $911,961 | 0 | Yes (1) | Yes (1) |
| TIMOTHY SMITH | |||||||
| FORMER CEO | SPLIT-DOLLAR LIFE INSURANCE UNDER REG 1.7872-15 | Yes (X) | $2,100,000 | $1,713,060 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $9,212,698 | TotalBalanceDueAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE L, PART II | FormAndLineReferenceDesc |
| Explanation | NOTED THESE 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 THAT AMOUNT FOR BALANCE SHEET PURPOSES. HOWEVER, THE ACTUAL LOAN BALANCES ARE AS FOLLOWS:TAMMY HEIKKINEN - 7,210,691JANET VOLD - 702,553RALPH HAMANN - 1,051,279TIMOTHY SMITH - 2,508,706 | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 1A | THERE IS A SUPERVISORY COMMITTEE THAT REVIEWS AUDIT RESULTS. MEMBERS OF THE COMMITTEE ARE NOT ON THE BOARD OF DIRECTORS OR ON THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION A, LINE 6 | SUBSTANTIALLY ALL CUSTOMERS OF THE CREDIT UNION ARE MEMBERS. EACH MEMBER HAS EQUAL VOTING RIGHTS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE MEMBERSHIP ELECTS THE BOARD OF DIRECTORS. THERE IS ONE CLASS OF MEMBERSHIP. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE MEMBERSHIP MUST APPROVE CHANGES TO THE BY-LAWS. |
| FORM 990, PART VI, SECTION B, LINE 11B | REVIEWED BY CFO AND CEO |
| FORM 990, PART VI, SECTION B, LINE 12C | CONFLICT OF INTEREST MUST BE DISCLOSED PURSUANT TO THE POLICY. SUCH DISCLOSURES MUST BE MADE IN WRITING TO THE COMPLIANCE OFFICER. THE COMPLIANCE OFFICER MUST RETAIN THOSE DISCLOSURES. THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS AND EACH BOARD MEMBER ATTESTS THAT THEY UNDERSTAND AND AGREE TO ADHERE TO THE POLICY. |
| FORM 990, PART VI, SECTION B, LINE 15 | CEO COMPENSATION BASED ON RANGE PROVIDED BY D HILTON AND APPROVED BY BOARD. CHIEFS AND GENERAL COUNSEL ALSO BASED ON RANGE PROVIDED BY D HILTON AND APPROVED BY CEO. THE CEO REVIEWS SALARY SURVEY RESULTS FROM ADP PAYSCALE BASED ON JOB DESCRIPTIONS OF OTHER OFFICERS AND KEY EMPLOYEES. SALARY SURVEYS ARE USED TO DETERMINE SALARY RANGE. |
| FORM 990, PART VI, SECTION C, LINE 19 | FINANCIAL STATEMENTS ARE AVAILABLE TO THE MEMBERSHIP. A MONTHLY BALANCE SHEET IS POSTED IN LOBBY OF PRIMARY BRANCHES. THE ANNUAL REPORT IS POSTED ON THE CU'S WEBSITE. ALSO, QUARTERLY REPORTS ARE AVAILABLE ON THE NCUA WEBSITE. THE CU DOES NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. |
| FORM 990, PART XI, LINE 9: | ROUNDING 3. |
| FORM 990, PART XII, LINE 2C: | THE SUPERVISORY COMMITTEE ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE INDEPENDENT AUDIT OF THE CREDIT UNION'S FINANCIAL STATEMENTS AND ASSUMES RESPONSIBILITY FOR THE SELECTION OF THE INDEPENDENT AUDITOR. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MEMBERS COOPERATIVE CREDIT UNION COMMUNITY YOUTH FOUNDATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4628 MIKE COLALILLO DR | AddressLine1Txt |
| City | DULUTH | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55807 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 270603827 | EIN |
| Primary Activities | CHARITABLE AND EDUCATIONAL PURPOSES PROMOTING YOUTH | PrimaryActivitiesTxt |
| Legal Domicile State | MN | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | PF | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MEMBERS COOPERATIVE CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LAKEHEAD FINANCIAL MANAGEMENT INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4628 MIKE COLALILLO DR | AddressLine1Txt |
| City | DULUTH | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55807 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 411542100 | EIN |
| Primary Activities | CREDIT UNION SERVICE ORGANIZATION | PrimaryActivitiesTxt |
| Legal Domicile State | MN | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MEMBERS COOPERATIVE CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C | EntityTypeTxt |
| Ownership | 1.00000 | OwnershipPct |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (1) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NO TRANSACTIONS OVER 50000 | BusinessNameLine1Txt |
Comments