2019-08-22T11:32:40-07:00 2018-12-31 990 2018-01-01 410800081 NOVATION CREDIT UNION NOVA 6517398080 500 Imperial Avenue Oakdale MN 551287151 Sharon Hansen CFO 6517398080 2019-08-22 23.25.150.49 2018 2019-02-21 02:37:17Z X Kristi Mukomela 500 Imperial Ave Oakdale MN 55128 7079455 0 0708 X www.novation.org X Cooperative 1954 MN Novation Credit Union is a not-for-profit financial cooperative providing 14,879 member owners with competitively priced financial solutions including real estate and consumer loans, credit cards, savings, checking, and investments. Additional services include ATM/Debit Cards, ATMs, Online Banking, Mobile Banking, Bill Pay and more. 9 9 33 13 43427 -19646 0 0 6297940 6948223 105774 131232 0 0 6403714 7079455 0 0 220119 356143 506261 130356 0 0 0 4872419 5540363 5598799 6026862 804915 1052593 141069501 144238783 129872701 131989390 11196800 12249393 X To offer personalized financial solutions exclusively to 3M employees and their families. 0 1 Provided over 2,675 Vehicle, Home Equity, 1st Mortgages, Student Loans and other loans for over $48.1 million to member owners, originated 46 1st Mortgages totaling over $9.9 million and sold to the secondary market, and also processed over 243,000 Visa sales transactions totaling $17.2 million for member owners. (14,879 member owners). Provided competetive Savings and Investment opportunities, and Retirement Planning Services to member owners (14,879 member owners). Checking services that include ATM, Debit Cards, Direct Deposit, online banking, BillPay, ACH, and mobile payments to member owners (14,879 member owners). Credit Union Programs: Other Banking Services - Prepaid Travel & Gift Cards, and Wire Transfers - to member owners. (14,879 member owners) 0 0 0 0 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 1 0 0 0 0 0 0 0 0 0 1 X 3972 0 1 33 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 0 1 1 1 1 0 MN X Sharon Hansen 6517398080 500 Imperial Avenue Oakdale MN 551287151 Shawn Schow Board Member 1 X 1100 0 0 Matt Juhl Board Member 1 X 1100 0 0 Rhonda Graves Board Member 1 X 1100 0 0 Mary Edinger Board Member 1 X 800 0 0 Dan Carlson Board Member 1 X 500 0 0 Thomas Hangge Chairman 1 X 1200 0 0 Mike Kronebusch Board Member 1 X 1100 0 0 Dawn McGinley Board Member 1 X 800 0 0 Sylvia Propps Board Member 1 X 700 0 0 Kristi Mukomela President 50 X X 727114 0 35525 Sharon Hansen Chief Financial Officer 50 X 138794 0 100195 Scott Henning Vice President -Marketing, Sales & Member Experience 50 X 114250 0 34417 988558 0 170137 3 0 1 0 Fiserv 255 Fiserv Drive Brookfield WI 53045 Account Processing, Document Storage, Credit/Debit/ATM processing 857117 NCR 864 Spring Street Atlanta GA 30308 e-Services 263519 2 0 0 0 0 0 0 0 0 Real Estate Lending 522291 1950073 1950073 0 0 Consumer Lending 522291 2861597 2861597 0 0 Investment Center 523000 385213 385213 0 0 Insurance Related Activities 524298 86447 77147 9300 0 Deposit Credit Intermediation 522100 1664893 1630766 34127 0 0 0 0 0 6948223 131232 131232 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 7079455 7036028 43427 0 X 0 0 0 356143 9000 0 0 96859 24497 0 0 1074 38400 0 0 0 0 72864 123877 731424 0 258747 19015 0 19976 31711 0 268242 34040 Insperity Service Fees 2487605 ATM/debit card and machine expense 552272 Loan Servicing 638944 Loan Loss Provision 111629 150543 6026862 0 0 0 1197192 1100146 11167935 2194554 121108895 133244251 581871 768148 5592472 3101038 2640465 2491434 4373143 4440250 141069501 144238783 1397134 1182390 490000 128475567 130317000 129872701 131989390 X 0 0 0 0 11196800 12249393 11196800 12249393 141069501 144238783 1052593 0 0 0 0 0 X 0 1 X 1 0 0 734664 734664 0 1929808 940042 989766 0 316652 199385 117267 0 2529278 1923018 606260 0 82070 38593 43477 2491434 Regular Shares 43168186 Checking Accounts 48809202 All Other Shares and Deposits 38339612 130317000 X X X 0 1 0 Kristi Mukomela President 703192 0 23922 0 0 0 17510 0 0 0 744624 0 0 0 Sharon Hansen Chief Financial Officer 122826 0 15968 0 0 0 84700 0 0 0 223494 0 0 0 Schedule J, Part I, Line 4 Senior management participated in a 457f plan. Kristi Mukomela participated in 457f plan, received payment of $523,000. Sharon Hansen, Scott Henning and Nick Altavilla participated in 457f plan - non received payments. Tracy Juhl Spouse of Board Member Matt Juhl 16651 compensation for part-time employment 0 Form 990, Part I, Line 1 Loans, credit cards, savings, checking, and investments. Additional services include ATM/Debit cards, ATMs, Online Banking, Mobile Banking, Bill Pay and more. Form 990, Part I, Line 5 Novation Credit Union has a Client Service Agreement with Insperity. As a result, Insperity is the employer for the purpose of paying wages. Insperity also remits all taxes and files all returns under their name and EIN 76-0689539. Insperity is a PEO (Professional Employment Organization) and provides human resource services to their clients. Form 990, Part III, Line 3 Novation Credit Union stopped offering Health Savings Accounts (HSA's) and IRA's. Form 990, Part V, Line 2a Novation Credit Union has a Client Service Agreement with Insperity. As a result, Insperity is the employer for the purpose of paying wages. Insperity also remits all taxes and files all returns under their name and EIN 76-0689539 . Insperity is a PEO (Professional Employment Organization) and provides human resource services to their clients. Form 990, Part V, Line 2b Novation Credit Union has a Client Service Agreement with Insperity. As a result, Insperity is the employer for the purpose of paying wages. Insperity also remits all taxes and files all returns under their name and EIN 76-0689539. Insperity is a PEO (Professional Employment Organization) and provides human resource services to their clients. Form 990, Part VI, Section A, Line 6 Credit Union with 14,879 members. Form 990, Part VI, Section A, Line 7a Credit Union with 14,879 member owners elect the volunteer board members in an annual election. Form 990, Part VI, Section A, Line 7b Certain provisions by Credit Union Bylaws require the approval of full membership. Form 990, Part VI, Section B, Line 11b Form 990 is reviewed by management. Management and board discuss the process used to create the Form 990. Form 990, Part VI, Section B, Line 15 A compensation committee reviews survey data and progress on credit union goals and recommends CEO compensation changes to the full board for approval. The CEO reviews survey data and progress on credit union goals in determining management and other employee compensation. Form 990, Part VI, Section C, Line 19 Financial statements are posted in the credit union lobby. Governing documents are available upon request. Form 990, Part IX, Line 7 Novation Credit Union has a Client Service Agreement with Insperity. As a result, Insperity is the employer for the purpose of paying wages. Insperity also remits all taxes and files all returns under their name and EIN 76-0689539. Insperity is a PEO (Professional Employment Organization) and provides human resource services to their clients. Form 990, Part IX, Line 10 Novation Credit Union has a Client Service Agreement with Insperity. As a result, Insperity is the employer for the purpose of paying wages. Insperity also remits all taxes and files all returns under their name and EIN 76-0689539. Insperity is a PEO (Professional Employment Organization) and provides human resource services to their clients. Form 990, Part IX, Line 24e Novation Credit Union has a Client Service Agreement with Insperity. As a result, Insperity is the employer for the purpose of paying wages. Insperity also remits all taxes and files all returns under their name and EIN 76-0689539 . Insperity is a PEO (Professional Employment Organization) and provides human resource services to their clients.