2021-11-10T08:56:28-06:00 2020-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2020-01-01 410517445 ST CLOUD FINANCIAL CREDIT UNION STCL 3202582195 3030 S 1ST STREET ST CLOUD MN 55301 SHELOA FIELDSETH CFO 3202582195 2021-11-09 1 SHELOA FIELDSETH 999009999 TANYA MEDGAARDEN P01717240 5074347000 2021-11-09 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z JED MEYER 3030 S 1ST STREET ST CLOUD MN 55301 12436897 0 X STCLOUDFCU.COOP X 1930 MN WE ARE A MEMBER-OWNED ORGANIZATION, OFFERING FINANCIAL SERVICES THAT ARE COMPETITIVE WITHIN THE MARKET AND RESPONSIVE TO THE CHANGING NEEDS OF OUR MEMBERS, WHILE MAINTAINING A SAFE AND SOUND BUSINESS PRACTICE. 8 8 88 12 19611 2844 0 0 9728272 11812971 864920 623926 0 0 10593192 12436897 0 0 973480 833928 4047195 4915174 0 0 0 4468497 5415713 9489172 11164815 1104020 1272082 192632553 248270161 175518481 228613495 17114072 19656666 WE ARE A MEMBER-OWNED ORGANIZATION, OFFERING FINANCIAL SERVICES THAT ARE COMPETITIVE WITHIN THE MARKET AND RESPONSIVE TO THE CHANGING NEEDS OF OUR MEMBERS, WHILE MAINTAINING A SAFE AND SOUND BUSINESS PRACTICE. 0 0 THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 1,697 NEW MEMBER DEPOSIT ACCOUNTS IN 2020. AS OF 12/31/2020 WE HAD 22,352 MEMBERS. THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 9,313 NEW LOANS TO MEMBERS DURING 2020. AS OF 12/31/2020 WE HAD 16,627 LOANS TO OUR MEMBERS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 3522 0 1 88 1 1 1 0 0 0 0 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 X SHELOA FIELDSETH 3202582187 1716 PINE CONE ROAD SOUTH SARTELL MN 56377 RICK WURST BOARD CHAIR 1.00 X X 0 0 0 BECKY EISENWINTER BOARD 1ST VICE CHAIR 1.00 X X 0 0 0 KENNETH ERICKSON BOARD 2ND VICE CHAIR 1.00 X X 0 0 0 ANDREW JOHANNES BOARD MEMBER 1.00 X 0 0 0 MARY ULWELLING BOARD MEMBER 1.00 X 0 0 0 RANDY SCHREIFELS BOARD MEMBER 1.00 X 0 0 0 GREG KONERZA BOARD MEMBER 1.00 X 0 0 0 SONY MILLER BOARD MEMBER 1.00 X 0 0 0 JED MEYER CEO 40.00 X 214390 0 38110 MEL TODY CFO 40.00 X 140359 0 39972 ALYCE JUSTIN EVP 40.00 X 187464 0 70192 ALLISON PEICHEL MORTGAGE DIRECTOR 40.00 X 133281 0 44739 VONDA DICKEY VP - ORGANIZATION DEVELOPMENT 40.00 X 103594 0 37798 779088 0 230811 5 0 1 0 CO-OP 9692 HAVEN AVE RANCHO CUCAMONGA CA 91730 DEBIT CARD PROVIDER 605759 CORELATION 2305 HISTORIC DECATUR RD 300 SAN DIEGO CA 92106 CORE COMPUTER SYSTEM PROVIDER 241848 ALKAMI 5601 GRANITE PARKWAY PLANO TX 75024 ONLING AND MOBILE ACCESS FOR MEMBERS 239154 GASLIGHT 713 WEST ST GERMAIN STREET SUITE 3 ST CLOUD MN 56301 MARKETING SERVICES 125405 PALMER PRINTING 2902 3RD ST S WAITE PARK MN 56387 PRINTING SERVICES 119005 6 LOAN INTEREST INCOME 522100 7207514 7207514 OTHER OPERATING INCOME 522100 3435144 3435144 FEES & CHARGES 522100 1170313 1150702 19611 11812971 623531 623531 395 0 395 395 395 12436897 11793360 19611 623926 X 833928 432831 3436204 134162 572829 339148 18998 44247 2221629 323295 546776 633884 104497 9776 521570 PROVISION FOR LOAN LOSS 484211 LOAN SERVICING EXPENSE 415812 MISCELLANEOUS 64743 NON OPERATING EXPENSE 13200 13075 11164815 2382562 3116085 29706310 169351 201672 146465137 168032715 1883486 2373559 12060093 4647487 7298953 7412606 32269304 25706837 2163760 11720377 192632553 248270161 2965805 3032498 172552676 225580997 175518481 228613495 X 0 0 0 0 17114072 19656666 17114072 19656666 192632553 248270161 X 1272082 1270512 X X 0 0 0 1935286 1935286 6440932 1802831 4638101 3683875 2844656 839219 7412606 HELD TO MATURITY SECURITIES 799000 C OTHER INVESTMENTS 24674600 C PERPETUAL CONT CAPITAL 233237 C 25706837 SHARES AND DEPOSITS 225580997 225580997 X PART X, LINE 2: THE AUDIT IS DONE AS OF 3/31/20 AS ALLOWED PER REGULATORY AUTHORITIES. THE CREDIT UNION IS EXEMPT, UNDER INTERNAL REVENUE CODE (IRC) 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES BEGINNING IN 2019. X 1 1 X X X 0 0 0 ALYCE JUSTIN EVP 173558 0 13462 0 444 0 45652 0 24540 0 257656 0 0 0 JED MEYER CEO 189187 0 19718 0 5485 0 20098 0 18012 0 252500 0 0 0 MEL TODY CFO 133244 0 6615 0 500 0 35487 0 4485 0 180331 0 0 0 ALLISON PEICHEL MORTGAGE DIRECTOR 97781 0 35500 0 0 0 25536 0 19203 0 178020 0 0 0 PART I, LINE 1A JED MEYER - HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES -$500 - INCLUDED IN TAXABLE COMPENSATION MEL TODY - HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES -$500 - INCLUDED IN TAXABLE COMPENSATION ALYCE JUSTIN - HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES -$444 - INCLUDED IN TAXABLE COMPENSATION FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS. TO BE A MEMBER, YOU MUST HAVE A SHARE (SAVINGS) ACCOUNT AT THE CREDIT UNION FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS ELECTED BY THE CREDIT UNION MEMBERS. EACH MEMBER HAS ONE VOTE FORM 990, PART VI, SECTION A, LINE 7B A MEMBER VOTE IS REQUIRED FOR DECISIONS WHICH ARE BEYOND THE AUTHORITY OF THE BOARD OF DIRECTORS. ITEMS WHICH REQUIRE MEMBERSHIP VOTE ARE OUTLINED AND SPECIFIED IN OUR BYLAWS. EACH MEMBER HAS ONE VOTE. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PROVIDES NECESSAY DATA TO INDEPENDENT CPA WHO PREPARES THE RETURN. MANAGEMENT REVIEWS THE RETURN FOR ACCURACY, AND THEN AUTHORIZES CPA TO FILE THE APPROVED RETURN. MANAGEMENT REVIEWS THE RETURN WITH THE DIRECTORS AT THE NEXT BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C MANAGEMENT REVIEWS TRANSACTIONS AGAINST DISCLOSED INTERESTS FOR ANY POSSIBLE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS COMPENSATION COMMITTEE REVIEWS AND RECOMMENDS COMPENSATION ON AN ANNUAL BASIS TO THE ENTIRE BOARD OF DIRECTORS WHO THEN VOTE IN AN EXCUTIVE SESSION TO SET THE CEO'S COMPENSATION. THE MINUTES OF THE EXECUTIVE SESSION ARE RETAINED BY THE BOARD OF DIRECTORS. THIS WAS MOST RECENTLY COMPLETED IN 2020. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY MONTHLY AND OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICES 2,221,629. FORM 990, PART XI, LINE 9: CHANGE IN ACQUIRED EQUITY 1,270,511. ROUNDING 1. FORM 990 PART XII LINE 2C THE PROCESS HAS NOT CHANGED.