MY CREDIT UNION: Form 990, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
MY CREDIT UNION (EIN 41-0824021)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-11-17
IRS object ID
202503219349322050
Schema version
2024v5.2
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

FieldValueIRS element (for citing)
Return2025-11-17T16:38:40-06:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN410746749PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1CLIFTONLARSONALLEN LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1109 N MAIN STREET SUITE 200AddressLine1Txt
CityAUSTINCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55912ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2024-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN410824021EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1MY CREDIT UNIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlMYCRBusinessNameControlTxt
Phone6127987100PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line19550 LYNDALE AVENUE SOUTHAddressLine1Txt
CityBLOOMINGTONCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55420ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonGREG WORTHENPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone6127987176PhoneNum
Signature2025-11-17SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (1)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonTANYA MEDGAARDENPreparerPersonNm
PTINP01717240PTIN
Phone5074347000PhoneNum
Preparation2025-11-17PreparationDt
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerGREG WORTHENPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line19550 LYNDALE AVENUE SOUTHAddressLine1Txt
CityBLOOMINGTONCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55420ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$19,315,218GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
All Affiliates IncludedYes (1)AllAffiliatesIncludedInd
Organization501cYes (X)Organization501cInd
Website AddressWWW.MYMNCU.ORGWebsiteAddressTxt
Type Of Organization OtherYes (X)TypeOfOrganizationOtherInd
Other Organization DscCUOtherOrganizationDsc
Formation1957FormationYr
Legal Domicile StateMNLegalDomicileStateCd
Activity Or MissionTO PROVIDE LENDING, SAVINGS AND OTHER FINANCIAL SERVICES TO OUR QUALIFYING MEMBERS AT TERMS GENERALLY BETTER THAN AVAILABLE IN THE MARKETPLACE AND WITH A "SERVICE BASED EMPHASIS" THAT RECOGNIZES THE MEMBERS' STATUS AS OWNERS.ActivityOrMissionDesc
Voting Members Governing Body9VotingMembersGoverningBodyCnt
Voting Members Independent9VotingMembersIndependentCnt
Total Employee103TotalEmployeeCnt
Total Volunteers13TotalVolunteersCnt
Total Gross UBI$103,461TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$0PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$17,760,182PYProgramServiceRevenueAmt
CY Program Service Revenue$18,367,579CYProgramServiceRevenueAmt
PY Investment Income$458,434PYInvestmentIncomeAmt
CY Investment Income$305,073CYInvestmentIncomeAmt
PY Other Revenue$439,564PYOtherRevenueAmt
CY Other Revenue$469,182CYOtherRevenueAmt
PY Total Revenue$18,658,180PYTotalRevenueAmt
CY Total Revenue$19,141,834CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$1,154,541PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$2,258,514CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$5,889,071PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$7,286,201CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$9,533,783PYOtherExpensesAmt
CY Other Expenses$8,902,542CYOtherExpensesAmt
PY Total Expenses$16,577,395PYTotalExpensesAmt
CY Total Expenses$18,447,257CYTotalExpensesAmt
PY Revenues Less Expenses$2,080,785PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$694,577CYRevenuesLessExpensesAmt
Total Assets BOY$386,343,958TotalAssetsBOYAmt
Total Assets EOY$376,551,920TotalAssetsEOYAmt
Total Liabilities BOY$352,011,648TotalLiabilitiesBOYAmt
Total Liabilities EOY$341,399,769TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$34,332,310NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$35,152,151NetAssetsOrFundBalancesEOYAmt
MissionTO PROVIDE LENDING, SAVINGS AND OTHER FINANCIAL SERVICES TO OUR QUALIFYING MEMBERS AT TERMS GENERALLY BETTER THAN AVAILABLE IN THE MARKETPLACE AND WITH A "SERVICE BASED EMPHASIS" THAT RECOGNIZES THE MEMBERS' STATUS AS OWNERS.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
DescDIVIDENDS AND INTEREST EXCEEDING $2,258,515. PAID TO MEMBERS ON $330,243,973 DEPOSIT ACCOUNTS HELD BY 23,691 MEMBERS.Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

FieldValueIRS element (for citing)
DescPROVIDED CONSUMER, MORTGAGE AND BUSINESS LOAN SERVICES TO MEMBERS. GRANTED 803 LOANS IN 2024 WHICH EXCEEDED $25,245,808 IN NEW LOAN DISBURSEMENTS. TOTAL OF ALL LOANS OUTSTANDING WAS OVER $320,934,232 AT YEAR END.Desc

Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp

FieldValueIRS element (for citing)
DescPROVIDED OUTSTANDING PERSONAL AND REMOTE ACCESS TO FINANCIAL SERVICES. IN ADDITION TO FOUR IN-PERSON BRANCHES, MY CREDIT UNION MEMBERS ACCESSED FINANCIAL SERVICE THROUGH THE USE OF 4 SURCHARGE FREE ATM'S, OVER 6,770 CREDIT CARDS, OVER 25,575 DEBIT CARDS, AND NEARLY 13,189 MEMBERS USING OUR INTERNET BANKING SITE.Desc
FieldValueIRS element (for citing)
Described In Section501c30DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit CounselingYes (1)CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J RequiredYes (1)ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Loan OutstandingYes (1)LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org MemYes (1)BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document15242IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee103EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over LimitYes (1)UnrelatedBusIncmOverLimitInd
Form990 T FiledYes (1)Form990TFiledInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members9GoverningBodyVotingMembersCnt
Independent Voting Member9IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or StockholdersYes (1)MembersOrStockholdersInd
Election Of Board MembersYes (1)ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local ChaptersYes (1)LocalChaptersInd
Policies Reference ChaptersYes (1)PoliciesReferenceChaptersInd
Form990 Provided To Gvrn Body0Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process OtherYes (1)CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonRICK RASMUSSONPersonNm
Phone6127987176PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line19550 LYNDALE AVENUE SOUTHAddressLine1Txt
CityBLOOMINGTONCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55420ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (19 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtHighest Compensated EmployeeHighestCompensatedEmployeeInd
JAMES HABECK
CHAIRMAN1.00Yes (X)Yes (X)$0$0$0
JOHN SUAREZ
VICE CHAIRMAN1.00Yes (X)Yes (X)$0$0$0
SCOTT HOFFHINES
TREASURER1.00Yes (X)Yes (X)$0$0$0
TERESA KRUSE
SECRETARY1.00Yes (X)$0$0$0
DYLAN KLOPP
DIRECTOR1.00Yes (X)$0$0$0
JIM MCDONALD
DIRECTOR1.00Yes (X)$0$0$0
SUSAM ROSENBERG
DIRECTOR'1.00Yes (X)$0$0$0
LUANN WERNER
DIRECTOR1.00Yes (X)$0$0$0
LYNNE SCHERER
DIRECTOR1.00Yes (X)$0$0$0
GREG WORTHEN
PRESIDENT40.00Yes (X)$454,385$0$39,908
RICK RASMUSSON
CHIEF FINANCIAL OFFICER40.00Yes (X)$230,664$0$27,533
KAREN HOEPPNER
VICE PRESIDENT, LENDING40.00Yes (X)$208,923$0$11,986
JOHN DEBETTIGNIES
VICE PRESIDENT, MEMBER SER40.00Yes (X)$191,845$0$11,436
PIERRE MERLIN
VICE PRESIDENT, IT40.00Yes (X)$202,112$0$15,097
TODD BARDUSON
VICE PRESIDENT, MARKETING40.00Yes (X)$143,992$0$13,718
TERRY STIREWALT
VICE PRESIDENT, COMMERCIAL40.00Yes (X)$113,214$0$7,044
JULIE PRIBBLE
VICE PRESIDENT, HR40.00Yes (X)$140,007$0$23,958
CHRISTOPHER GUARNERA
VP OF COMMERCIAL SERVICES40.00$138,269$0$29,245Yes (X)
BRADEN WELCH
DIRECTOR OF IT40.00$120,259$0$14,986Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$1,943,670TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$194,911TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K8IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (1)TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
FISERV INC AND ITS AFFILIATES
PO BOX 934057ATLANTAGA31193IT SERVICES$821,819
LOFFLER COMPANIES
PO BOX 1511 BIN 131511ST LOUIS PARKMN55480IT SERVICES/ PRINTING$478,528
ALKAMI TECHNOLOGY
5601 GRANITE PKWYPLANOTX75024IT SERVICES$378,995
HENNEPIN COUNTY TREASURER
A-600 GOVERNMENT CENTERMINNEAPOLISMN55487GOVERNMENT SERVICES$311,795
027D PRODUCT DEVELOPMENT
7932 SOMERSET RDWOODBURYMN55125PRODUCT DEVELOPMENT$221,870
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K14CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp (3 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmtUnrelated Business RevenueUnrelatedBusinessRevenueAmt
LOAN INTEREST522100$15,041,196$15,041,196
OTHER INCOME524298$2,476,616$2,476,616
FEE INCOME522100$849,767$746,306$103,461
FieldValueIRS element (for citing)
Total Program Service Revenue$18,367,579TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$402,344TotalRevenueColumnAmt
Exclusion$402,344ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Securities$76,113SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Securities$173,384SecuritiesAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Securities-$97,271SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column-$97,271TotalRevenueColumnAmt
Related Or Exempt Func Income-$97,271RelatedOrExemptFuncIncomeAmt

Other Revenue Misc OtherRevenueMiscGrp (2 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
OTHER INTEREST INCOME522100$465,555$465,555
OTHER INCOME522100$3,627$3,627
FieldValueIRS element (for citing)
Other Revenue Total$469,182OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$19,141,834TotalRevenueColumnAmt
Related Or Exempt Func Income$18,636,029RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$103,461UnrelatedBusinessRevenueAmt
Exclusion$402,344ExclusionAmt
FieldValueIRS element (for citing)
Info In Schedule O Part IXYes (X)InfoInScheduleOPartIXInd

Benefits To Members BenefitsToMembersGrp

FieldValueIRS element (for citing)
Total$2,258,514TotalAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$1,835,822TotalAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$3,775,394TotalAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$205,347TotalAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$694,216TotalAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$775,422TotalAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$26,945TotalAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$12,717TotalAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$2,342,461TotalAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$495,223TotalAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$2,057,597TotalAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$750,623TotalAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$106,688TotalAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$651,675TotalAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$945,181TotalAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmt
LOAN SERVICING EXPENSE$1,209,324
MISCELLANEOUS OPERATING$446,986
OPERATING FEES$20,568
PROVISION FOR CREDIT LO-$163,446

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$18,447,257TotalAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$1,366,791BOYAmt
EOY$1,558,194EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$8,611,680BOYAmt
EOY$13,606,089EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$75,971BOYAmt
EOY$14,178EOYAmt

Receivables From Officers Etc ReceivablesFromOfficersEtcGrp

FieldValueIRS element (for citing)
BOY$6,374,511BOYAmt
EOY$6,644,412EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

FieldValueIRS element (for citing)
BOY$331,981,199BOYAmt
EOY$319,861,559EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$720,141BOYAmt
EOY$701,121EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$23,434,525LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$7,127,264LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$16,141,167BOYAmt
EOY$16,307,261EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

FieldValueIRS element (for citing)
BOY$11,073,488BOYAmt
EOY$8,581,794EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$9,999,010BOYAmt
EOY$9,277,312EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$386,343,958BOYAmt
EOY$376,551,920EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$3,033,122BOYAmt
EOY$2,205,782EOYAmt

Escrow Account Liability EscrowAccountLiabilityGrp

FieldValueIRS element (for citing)
BOY$916,576BOYAmt
EOY$991,436EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$19,000,000BOYAmt
EOY$8,000,000EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$329,061,950BOYAmt
EOY$330,202,551EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$352,011,648BOYAmt
EOY$341,399,769EOYAmt
FieldValueIRS element (for citing)
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

FieldValueIRS element (for citing)
BOY$34,332,310BOYAmt
EOY$35,152,151EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$34,332,310BOYAmt
EOY$35,152,151EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$386,343,958BOYAmt
EOY$376,551,920EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$694,577ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst$125,264NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Info In Schedule O Part XIIYes (X)InfoInScheduleOPartXIIInd
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS Audited0FSAuditedInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule D IRS990ScheduleD

FieldValueIRS element (for citing)
Agent Trustee Etc0AgentTrusteeEtcInd
Incl Escrow Custodial Acct LiabYes (1)InclEscrowCustodialAcctLiabInd
Explanation ProvidedYes (X)ExplanationProvidedInd

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$5,844,849OtherCostOrOtherBasisAmt
Book Value$5,844,849BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$13,738,567OtherCostOrOtherBasisAmt
Depreciation$4,544,735DepreciationAmt
Book Value$9,193,832BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$3,851,109OtherCostOrOtherBasisAmt
Depreciation$2,582,529DepreciationAmt
Book Value$1,268,580BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$16,307,261TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

FieldValueIRS element (for citing)
DescSHARES/DEPOSITSDesc
Amt$330,202,551Amt
FieldValueIRS element (for citing)
Total Liability$330,202,551TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd

Supplemental Information Detail SupplementalInformationDetail (3 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
PART IV, LINE 2B:THE CREDIT UNION SERVICES MORTGAGE LOANS. CUSTODIAL ESCROW BALANCES ARE MAINTAINED IN CONNECTION WITH THESE LOANS.
PART X, LINE 2:THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL TAXES ON INCOME RELATED TO THE EXEMPT PURPOSE OF THE CREDIT UNION.
PART X, LINE 2AS ALLOWED BY STATE REGULATORY AUTHORITIES, THE AUDIT IS DONE AS OF JUNE 30. THE REPORTING PERIOD FOR THE AUDIT, THEREFORE, DOES NOT MATCH THE REPORTING PERIOD FOR FORM 990.

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Compensation CommitteeYes (X)CompensationCommitteeInd
Independent ConsultantYes (X)IndependentConsultantInd
Form990 Of Other OrganizationsYes (X)Form990OfOtherOrganizationsInd
Written Employment ContractYes (X)WrittenEmploymentContractInd
Compensation SurveyYes (X)CompensationSurveyInd
Board Or Committee ApprovalYes (X)BoardOrCommitteeApprovalInd
Severance Payment0SeverancePaymentInd
Supplemental Nonqual Rtr Plan0SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm0EquityBasedCompArrngmInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (8 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtCompensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmtBonus Filing OrganizationBonusFilingOrganizationAmountBonus Related OrganizationsBonusRelatedOrganizationsAmtOther Compensation Filing OrgOtherCompensationFilingOrgAmtOther Compensation Rltd OrgsOtherCompensationRltdOrgsAmtDeferred Compensation Flng OrgDeferredCompensationFlngOrgAmtDeferred Comp Rltd OrgsDeferredCompRltdOrgsAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmtNontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmtTotal Compensation Filing OrgTotalCompensationFilingOrgAmtTotal Compensation Rltd OrgsTotalCompensationRltdOrgsAmtComp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmtComp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
GREG WORTHEN
PRESIDENT$346,251$0$67,600$0$40,534$0$20,700$0$19,208$0$494,293$0$0$0
RICK RASMUSSON
CHIEF FINANCIAL OFFICER$184,501$0$38,380$0$7,783$0$12,436$0$15,097$0$258,197$0$0$0
KAREN HOEPPNER
VICE PRESIDENT, LENDING$167,416$0$32,320$0$9,187$0$11,986$0$0$0$220,909$0$0$0
PIERRE MERLIN
VICE PRESIDENT, IT$166,019$0$34,340$0$1,753$0$0$0$15,097$0$217,209$0$0$0
JOHN DEBETTIGNIES
VICE PRESIDENT, MEMBER SER$159,664$0$30,600$0$1,581$0$11,436$0$0$0$203,281$0$0$0
CHRISTOPHER GUARNERA
VP OF COMMERCIAL SERVICES$110,576$0$14,968$0$12,725$0$8,020$0$21,225$0$167,514$0$0$0
JULIE PRIBBLE
VICE PRESIDENT, HR$111,871$0$23,230$0$4,906$0$7,247$0$16,711$0$163,965$0$0$0
TODD BARDUSON
VICE PRESIDENT, MARKETING$114,318$0$23,028$0$6,646$0$7,115$0$6,603$0$157,710$0$0$0

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART I, LINE 3FormAndLineReferenceDesc
ExplanationCOMPENSATION COMMITTEE REVIEWS THE CEO'S PERFORMANCE AND APPROVES SALARY/BENEFIT CHANGES. THIS INFORMATION IS PROVIDED TO THE ENTIRE BOARD ON AN ANNUAL BASIS.ExplanationTxt

Schedule L IRS990ScheduleL

Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (4 entries)

Relationship With OrgRelationshipWithOrgTxtLoan PurposeLoanPurposeTxtLoan From OrganizationLoanFromOrganizationIndOriginal PrincipalOriginalPrincipalAmtBalance DueBalanceDueAmtDefaultDefaultIndBoard Or Committee ApprovalBoardOrCommitteeApprovalIndWritten AgreementWrittenAgreementInd
GREG WORTHEN
PRESIDENTSPLIT DOLLAR PLANYes (X)$3,200,000$3,285,9890Yes (1)Yes (1)
RICK RASMUSSON
CHIEF FINANCIAL OFFICERSPLIT DOLLAR PLANYes (X)$1,400,000$1,494,9310Yes (1)Yes (1)
KAREN HOEPPNER
VP-LENDINGSPLIT DOLLAR PLANYes (X)$675,000$715,1310Yes (1)Yes (1)
JOHN DEBETTIGNIES
VP-MEMBER SERVICESSPLIT DOLLAR PLANYes (X)$1,200,000$1,148,3610Yes (1)Yes (1)
FieldValueIRS element (for citing)
Total Balance Due$6,644,412TotalBalanceDueAmt

Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp

Name Of Interested NameOfInterested

FieldValueIRS element (for citing)
PersonJULIEANN WORTHENPersonNm
FieldValueIRS element (for citing)
Relationship DescriptionJULIEANN IS WIFE OF GREG WORTHEN, CEO.RelationshipDescriptionTxt
Transaction$31,750TransactionAmt
TransactionJULIEANN IS AN EMPLOYEE OF THE CREDIT UNIONTransactionDesc
Sharing Of Revenues0SharingOfRevenuesInd

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSCHEDULE L, PART IIFormAndLineReferenceDesc
ExplanationNOTED THESE TO BE NON-RECOURSE PLANS THAT ARE 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 BALANCE IS AS FOLLOWS:GREG WORTHEN - $3,728,736RICK RASMUSSON - $1,615,349KAREN HOEPPNER - $786,530JOHN DEBETTIGNIES - $1,364,045ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (8 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 6ELIGIBLE MEMBERSHIP OF MY CREDIT UNION CONSISTS OF PERSONS WHO LIVE IN, WORSHIP IN, ATTEND SCHOOL IN, WORK IN, OR VOLUNTEER IN AND BUSINESSES AND OTHER LEGAL ENTITIES LOCATED IN THE COUNTIES OF: HENNEPIN, DAKOTA, SCOTT COUNTIES, LESUEUR, CARVER AND RICE. IN ADDITION TO A REGULARLY QUALIFIED MEMBER, MEMBERS OF THE SAME HOUSEHOLD, THE SPOUSE OF A MEMBER, THE BLOOD OR ADOPTIVE RELATIVES OF EITHER AND THEIR SPOUSES MAY BE MEMBERS.
FORM 990, PART VI, SECTION A, LINE 7AALL MEMBERS IN GOOD STANDING AND AT LEAST 18 YEARS OLD RECEIVE ONE VOTE IN ANNUAL ELECTIONS OF THE BOARD OF DIRECTORS.
FORM 990, PART VI, SECTION B, LINE 11BCFO AND FINANCIAL ACCOUNTING MANAGER FILL OUT THE FORMS AND THE CEO REVIEWS BEFORE SUBMISSION.
FORM 990, PART VI, SECTION B, LINE 12CTHE BOARD AND SENIOR MANAGERS ARE REQUIRED TO DISCLOSE ANY AFFILIATIONS IN A SIGNED DOCUMENT ANNUALLY. CONFLICT OF INTEREST POLICY IS INCLUDED IN THE EMPLOYEE HANDBOOK.
FORM 990, PART VI, SECTION B, LINE 15IN 2024, THE ORGANIZATION HAD ALL SALARIES, JOB DESCRIPTIONS AND POSITIONS EVALUATED BY A THIRD-PARTY ORGANIZATION. PERFORMANCE PRO IS A COMPREHENSIVE SALARY ADMINISTRATION TOOL WHICH INCORPORATES THE INDIVIDUAL JOB FUNCTIONS AND SCORES EACH FUNCTION TO CREATE POSITION GRADES. THESE GRADES ARE THEN COMPARED WITH SIMILAR POSITION GRADES, ON A LOCAL AND NATIONAL LEVEL TO CREATE POSITION SALARY RANGES. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024.
FORM 990, PART VI, SECTION C, LINE 19FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION LOBBY.
FORM 990, PART IX, LINE 11GPROFESSIONAL AND OUTSIDE SERVICES 465,819. DATA PROCESSING 1,876,642.
FORM 990, PART XII, LINE 2B:AS ALLOWED BY STATE REGULATORY AUTHORITIES, THE AUDIT IS DONE AS OF JUNE 30. THE REPORTING PERIOD FOR THE AUDIT, THEREFORE, DOES NOT MATCH THE REPORTING PERIOD FOR FORM 990.

Schedule R IRS990ScheduleR

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp

Disregarded Entity Name DisregardedEntityName

FieldValueIRS element (for citing)
Business Name Line1MY CREDIT UNION FOUNDATIONBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line19550 LYNDALE AVENUE SOUTHAddressLine1Txt
CityBLOOMINGTONCityNm
State AbbreviationMNStateAbbreviationCd
ZIP55420ZIPCd
FieldValueIRS element (for citing)
EIN848404361EIN
Primary ActivitiesMY CU COMMUNITY FOUNDATION FOCUSES SUPPORTING VETERANS AND STUDENTS.PrimaryActivitiesTxt
Legal Domicile StateMNLegalDomicileStateCd
Exempt Code Section501(C)(3)ExemptCodeSectionTxt
Public Charity StatusLINE 10PublicCharityStatusTxt

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1MY CREDIT UNIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Controlled OrganizationYes (1)ControlledOrganizationInd
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts Rylts0ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth Org0GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org0GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org0LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth Org0RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org0PerformOfServicesForOthOrgInd
Perform Of Services By Other Org0PerformOfServicesByOtherOrgInd
Sharing Of Facilities0SharingOfFacilitiesInd
Paid Employees Sharing0PaidEmployeesSharingInd
Reimbursement Paid To Other Org0ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org0ReimbursementPaidByOtherOrgInd
Transfer To Other Org0TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd

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