2020-06-22T11:28:02-05:00 2019-12-31 390758449 WIPFLI LLP 8665 HUDSON BLVD N SUITE 200 ST PAUL MN 55042 990 2019-01-01 410653148 NORTHWOODS CREDIT UNION NORT 2188794181 1702 AVE B CLOQUET MN 55720 PAULA OLSEN VP OF ACCOUNTING 2188794181 2020-05-26 1 DAN PATRICK CPA P01771992 6516366468 2020-05-20 73.242.107.230 2020-05-26 09:31:51 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 3E5E2D126595CF5781BCA1491F41D99BC08DE375 2019 2021-04-22 16:20:28Z DOUG WOLF 1702 AVE B CLOQUET MN 55720 8461207 0 X WWW.NORTHWOODSCU.ORG X 1936 MN PROVIDE CREDIT UNION SERVICES TO MEMBERS. 7 7 60 10 12081 -13916 0 0 6916387 8229525 293654 141999 58514 0 7268555 8371524 0 29551 0 0 3279147 3536038 0 0 0 3743544 4131273 7022691 7696862 245864 674662 112837575 120165800 100973231 107626794 11864344 12539006 TO BE THE TRUSTED FINANCIAL PARTNER FOR OUR MEMBERS. 0 0 DIVIDENDS AND INTEREST ON MEMBER SAVINGS ACCOUNTS AND LOANS TO MEMBERS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 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 2514 0 60 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 0 1 1 0 X PAULA OLSEN 2188794181 90 ARROWHEAD LANE PO BOX 489 MOOSE LAKE MN 55767 ANN DUNAISKI DIRECTOR 0.64 X 704 0 0 LISA FOLLETT-POLLAK DIRECTOR 0.70 X 757 0 0 DAKOTA KOSKI DIRECTOR (THRU MARCH) 0.50 X 116 0 0 NATHAN MANNER ASSOCIATE DIRECTOR 0.70 X 725 0 0 KASEY OLSON SUPERVISORY COMMITTEE (NON-VOTING) 0.64 X 694 0 0 VICKI RADTKE SUPERVISORY COMMITTEE (NON-VOTING) 0.80 X 636 0 0 NICHOLAS SILTANEN SUPERVISORY COMMITTEE CHAIR (NON-VOTING) 1.00 X 1082 0 0 DEBRA J LARSON CHAIRPERSON 1.00 X X 1077 0 0 LARRY CHAMPEAUX VICE-CHAIRPERSON 0.60 X X 688 0 0 DEAN FORSYTHE VICE CHAIRPERSON (THRU OCTOBER) 0.60 X X 530 0 0 CHRISTINE NIELSON-RINGAT SECRETARY 0.90 X X 1002 0 0 JEFFREY KLETSCHER TREASURER 1.00 X X 1045 0 0 DOUG WOLF PRESIDENT/CEO 40.00 X 157257 0 37755 MATTHEW FERRIN CFO 40.00 X 118977 0 21765 TERRY BURN SVP - CHIEF RISK OFFICER 40.00 X 111427 0 36544 MARY GOLEN CHIEF LENDING OFFICER 40.00 X 127620 0 28962 SUSAN LANGENBRUNNER EVP 40.00 X 102094 0 31282 BARBARA BROWN RETIRED PRESIDENT/CEO 40.00 X 221766 0 8093 848197 0 164401 6 1 1 0 FISERV 75 REMITTANCE DRIVE SUITE 1649 CHICAGO IL 606751649 CORE SYSTEM PROVIDER 574970 NCRDIGITAL INSIGHT 864 SPRING ST NW ATLANTA GA 30308 ONLINE BANKING PROVIDER 385606 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT CARD SERVICE PROVIDER 142223 3 INTEREST ON LOAN 522100 5907560 5907560 FEE INCOME 522100 2321965 2309884 12081 8229525 176395 176395 55287 89683 -34396 -34396 -34396 8371524 8217444 12081 141999 29551 344810 2388490 164305 477056 161377 1300 624960 156814 267197 715621 224843 83375 11887 1050 322169 61289 DIVIDENDS ON MEMBER SHA 773316 LOAN & CLOSING COSTS 328965 ATM EXPENSES 191354 PROVISION FOR LOAN LOSS 175269 191864 7696862 2468464 2547596 2581675 6781571 236991 247178 92369304 97954870 203859 132539 7449438 2780450 4503222 4668988 5393000 3147000 1145000 714587 3936060 3971471 112837575 120165800 996271 797176 99976960 106829618 100973231 107626794 X 0 0 0 0 11864344 12539006 11864344 12539006 112837575 120165800 674662 0 X 0 0 0 546800 546800 5369255 1542470 3826785 1533383 1237980 295403 4668988 MEMBERS' SHARE AND SAVINGS ACCOUNTS 106829618 106829618 X X 0 0 0 DOUG WOLF PRESIDENT/CEO 138267 0 18990 0 0 0 8061 0 29694 0 195012 0 0 0 MARY GOLEN CHIEF LENDING OFFICER 94450 0 32723 0 447 0 5567 0 23395 0 156582 0 0 0 BARBARA BROWN RETIRED PRESIDENT/CEO 69245 0 152388 0 133 0 2092 0 6001 0 229859 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS MADE UP OF MEMBERS/OWNERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BODY IS ELECTED BY THE MEMBERS OF THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS OF THE BOARD OF DIRECTORS THAT REQUIRE APPROVAL BY MEMBERS INCLUDE MERGERS, CHANGE IN TERM LIMITS, AND BY-LAW CHANGES. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 WILL BE REVIEWED BY THE VICE-PRESIDENT OF ACCOUNTING AS WELL AS THE CFO PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C 1) ALL EMPLOYEES AND COMMITTEE MEMBERS ARE COVERED. 2) EMPLOYEE OR OFFICIAL IS SUPPOSED TO INFORM US OF A POTENTIAL CONFLICT OF INTEREST. 3) EXECUTIVE MANAGEMENT WOULD DETERMINE IF THERE IS A CONFLICT OF INTEREST WITH AN EMPLOYEE. BOARD OF DIRECTORS WOULD MAKE THE DETERMINATION IF THE POTENTIAL CONFLICT INVOLVES AN OFFICIAL. 4) EMPLOYEE OR OFFICIAL WOULD NOT BE ABLE TO PARTICIPATE IN DELIBERATIONS AND DECISIONS INVOLVING THE TRANSACTION IF A CONFLICT OF INTEREST IS DETERMINED. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION FOR THE PRESIDENT INCLUDED REVIEW AND APPROVAL OF THE MEMBERS OF THE BOARD OF DIRECTORS BASED ON REVIEW OF SALARIES OF COMPARABLE POSITIONS. SALARY RANGES FOR OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED BY USING A BOOK FROM CUNA THAT LISTS RANGES FOR VARIOUS JOB TITLES BASED IN OUR REGION. IMMEDIATE SUPERVISOR AS WELL AS THE EXECUTIVE MANAGEMENT TEAM WORK TOGETHER TO DETERMINE WHERE IN THAT RANGE AN INDIVIDUAL EMPLOYEE FALLS BASED ON THEIR KNOWLEDGE AND EXPERIENCE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES FORM 990 AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY OF OUR AVENUE B OFFICE. POLICIES THAT ARE REQUIRED TO BE SHARED WOULD BE AVAILABLE UPON REQUEST.