2025-11-05T15:25:17-06:00 2024-12-31 393647910 WIPFLI ADVISORY LLC 1502 LONDON ROAD SUITE 200 DULUTH MN 55812 990 2024-01-01 416024250 SHAREPOINT CREDIT UNION SHAR 9529300700 5300 HYLAND GREENS DRIVE BLOOMINGTON MN 55437 PAUL VORK EVP OF ACCOUNTING & FINANCE 9529300700 2025-11-05 1 1 MICHAEL J PETERSON CPA P01833529 2187224705 2025-11-05 2024 2025-03-06 01:10:19Z PHILLIP KOPISCHKE 5300 HYLAND GREENS DRIVE BLOOMINGTON MN 55437 19984794 0 X WWW.SHAREPOINTCU.COM X CU 1933 MN THE CREDIT UNION'S MISSION IS TO OFFER COMPETITIVE LOAN AND DEPOSIT PRODUCTS TO OUR MEMBERSHIP TO CREATE LIFELONG FINANCIAL RELATIONSHIPS. 9 9 75 14 7417 0 0 0 11557139 17169306 1504153 2737614 62160 62160 13123452 19969080 3638 11518 0 5556380 4751561 6034781 0 0 0 7709106 8075139 12464305 19677818 659147 291262 298126897 379067778 270493328 345224240 27633569 33843538 THE CREDIT UNION'S MISSION IS TO OFFER COMPETITIVE LOAN AND DEPOSIT PRODUCTS TO OUR MEMBERSHIP TO CREATE LIFELONG FINANCIAL RELATIONSHIPS. 0 0 DIVIDENDS AND INTEREST PAID TO MEMBERS ON APPROXIMATELY 33,000 DEPOSIT ACCOUNTS HELD BY APPROXIMATELY 26,000 MEMBERS. PROVIDING SAVINGS DEPOSIT SERVICES, ORIGINATING NEW LOANS, AND SERVICING THE LOAN PORTFOLIO FOR MEMBERS. RECORDING MEMBER ACCOUNT ACTIVITY AND PROVIDING ACCESS TO MEMBERS TO THEIR ACCOUNTS VIA ONLINE/MOBILE BANKING, ATM NETWORKS, AND IN PERSON AT THE CREDIT UNION OFFICES. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 11723 0 75 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 1 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 X PAUL VORK 9529300700 5300 HYLAND GREENS DRIVE BLOOMINGTON MN 55437 JOSEPH BUDNICK CHAIR 1.00 X X 2945 0 0 SCOTT WEICHT SECRETARY 1.00 X X 2685 0 0 GARY HAWLEY DIRECTOR 0.50 X 2545 0 0 ALAN PEDERSON DIRECTOR 0.50 X 2255 0 0 JOSEPH SCHMIDT DIRECTOR 0.50 X 1508 0 0 SARAH NELSON VICE CHAIR 1.00 X X 1378 0 0 JEAN GALLO DIRECTOR (THRU MAY 2024) 0.50 X 1353 0 0 TODD CORBO DIRECTOR (THRU MAY 2024) 0.50 X 1308 0 0 LINDSEY OLSEN DIRECTOR 0.50 X 1063 0 0 LISA TOLLAKSON DIRECTOR 0.50 X 500 0 0 MARY ST MARY DIRECTOR 0.50 X 0 0 0 PHILLIP KOPISCHKE PRESIDENT/CEO 40.00 X 417948 0 17426 PAUL VORK EVP OF ACCOUNTING & FINANCE 40.00 X 177023 0 6229 KERRI HINIKER EVP OF CREDIT & RISK 40.00 X 178189 0 15333 MEGAN HAMMACK SVP OF OPERATIONS 40.00 X 159374 0 6572 SCOTT OLSON EVP OF TRANSITION AND ADMIN. 40.00 X 124528 0 11236 KERRI COWDEN SVP OF CONSUMER CREDIT 40.00 X 116162 0 18002 JEFF THILL SVP OF IT 40.00 X 124499 0 4576 1315263 0 79374 7 0 1 0 VELERA PO BOX 749439 ATLANTA GA 303749439 DEBIT & CREDT CARD PROCESSOR/SERVICER 1306811 FIS PO BOX 4535 CAROL STREAM IL 601974535 DEBIT & CREDT CARD PROCESSOR/SERVICER 844658 FISERV PO BOX 934057 ATLANTA GA 311934057 BANKING SYSTEMS: CORE, ACCOUNTING/FINANC 611332 CU SOLUTIONS PO BOX 190 ROYAL OAK MI 480686800 ONLINE/MOBILE BANKING 246551 JACK HENRY PO BOX 609 MONETT MO 65708 BANKING SYSTEMS: CORE, ACCOUNTING/FINANC 133306 5 INTEREST ON LOANS 522100 13897314 13897314 FEE INCOME 522100 3271992 3264575 7417 17169306 2751490 2751490 62160 0 62160 62160 62160 1838 15714 -13876 -13876 -13876 19969080 17161889 7417 2799774 11518 5556380 636166 3970194 139319 939867 349235 51494 70075 479920 390710 754544 397914 393582 96885 5622 3386 378227 12000 LOAN SERVICING EXPENSE 1511465 DEBIT & CREDIT CARD EXP 1081417 BAD DEBT EXPENSE 793884 ATM EXPENSE 648693 1005321 19677818 1114343 1418596 12527542 19862158 527072 727243 3195412 2650328 181614098 235198274 628032 736365 10953781 4563935 4471491 6389846 80953016 71341675 4384102 16275139 0 6487829 8711789 17980325 298126897 379067778 1026223 898252 269467105 344325988 270493328 345224240 X 0 0 0 0 27633569 33843538 27633569 33843538 298126897 379067778 X 291262 1804894 4113813 X 0 1 X 1 0 2185327 2185327 5468296 1732521 3735775 116826 95158 21668 3183332 2736256 447076 6389846 MEMBERS' SHARE AND DEPOSITS 344206251 OPERATING LEASE LIABILITIES 119737 344325988 X 19982956 0 19982956 -13876 -13876 19969080 19691694 0 19691694 -13876 -13876 19677818 PART X, LINE 2: THE CREDIT UNION MAY RECOGNIZE A LIABILITY FOR UNRECOGNIZED TAX BENEFITS FROM UNCERTAIN TAX POSITIONS. UNRECOGNIZED TAX BENEFITS REPRESENT THE DIFFERENCES BETWEEN A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN AND THE BENEFIT RECOGNIZED AND MEASURED IN THE FINANCIAL STATEMENT. INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS ARE CLASSIFIED AS INCOME TAX EXPENSE. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSAL INCLUDED AS AN EXPENSE ON FINANCIAL STATEMENTS -13,876. PART XII, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSAL INCLUDED AS AN EXPENSE ON FINANCIAL STATEMENTS -13,876. 1 ST CLOUD FINANCIAL FOUNDATION 1716 PINECONE RD S SARTELL MN 56377 921235340 501(C)(3) 10000 0 TO PROVIDE FINANCIAL RELIEF FOR INDIVIDUALS/FAMILIES FACING TERMINAL ILLNESS 1 0 PART I, LINE 2: THE CREDIT UNION WORKS WITH A TRUSTED ORGANIZATION TO ADMINISTER THE FUNDS. GRANTEES ARE USUALLY REQUIRED TO SUBMIT REGULAR REPORTING DETAILING HOW FUNDS WERE SPENT AND WHAT PROGRESS WAS MADE TOWARD PROJECT GOALS. SOME GRANTS ARE TIED TO SPECIFIC DELIVERABLES OR PHASES, WITH FUNDING CONTINGENT ON MEETING PREDEFINED BENCHMARKS. WHEN POSSIBLE, FUNDS ARE DISBURSED DIRECTLY TO THE END SOURCE TO ENSURE FUNDS ARE USED AS INTENDED. X 0 1 X X X 1 1 0 PHILLIP KOPISCHKE PRESIDENT/CEO 334572 0 73988 0 9388 0 10297 0 7129 0 435374 0 0 0 KERRI HINIKER EVP OF CREDIT & RISK 146639 0 27913 0 3637 0 7391 0 7942 0 193522 0 0 0 PAUL VORK EVP OF ACCOUNTING & FINANCE 132402 0 39300 0 5321 0 5553 0 676 0 183252 0 0 0 MEGAN HAMMACK SVP OF OPERATIONS 117439 0 40600 0 1335 0 6343 0 229 0 165946 0 0 0 PART I, LINE 1A SOCIAL CLUB DUES - PHILLIP KOPISCHKE, PRESIDENT/CEO, NOT INCLUDED IN TAXABLE COMPENSATION THE PRIMARY PURPOSE OF THE EDINA COUNTRY CLUB (ECC) MEMBERSHIP IS TO CONDUCT BUSINESS RELATED MEETINGS WITH EMPLOYEES, BOARD MEMBERS, ETC. ANY TRANSACTIONS AT ECC FOR PERSONAL USE ARE DEDUCTED FROM PHILLIP'S PERSONAL CHECKING ACCOUNT AT THE CREDIT UNION. PART I, LINE 1B WE DO NOT HAVE A WRITTEN POLICY REGARDING THE ECC MEMBERSHIP. BOTH THE PRESIDENT/CEO AND THE ORGANIZATION'S ACCOUNTS PAYABLE TEAM RECEIVE COPIES OF THE MONTHLY STATEMENTS. THE PRESIDENT/CEO PROVIDES A BREAKDOWN OF THE ATTENDEES AND PURPOSE OF EACH EXPENSE, AS WELL AS ANY NECESSARY SUPPORTING INFORMATION. THE STATEMENTS ARE REVIEWED AND APPROVED BY THE EVP OF ACCOUNTING & FINANCE BEFORE PAYMENT IS REMITTED DIRECTLY TO ECC. PART I, LINES 4A-B SEVERANCE PAYMENT: SCOTT OLSON RECEIVED A $25,000 SEVERANCE PAYMENT DURING 2024. SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN: PHILLIP KOPISCHKE PARTICIPATES IN A SPLIT-DOLLAR LIFE INSURANCE PLAN. SEE SCHEDULE L, PART II FOR MORE DETAIL. PHILLIP KOPISCHKE CEO SPLIT-DOLLAR LIFE INSURANCE X 2237500 2650328 0 1 1 2650328 FORM 990, PART VI, SECTION A, LINE 4 THE CREDIT UNION'S BYLAWS WERE UPDATED TO INCREASE THE COMPOSITION OF ITS MEMBERS TO INCLUDE EMPLOYEES OF MCCLATCHY CORPORATION AND THE STAR TRIBUNE COMPANY AND THEIR AFFILIATES, AND ANY PERSON ENGAGED IN THE INFORMATION MEDIA INDUSTRY IN THE STATE OF MINNESOTA. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS COMPRISED OF A SINGLE CLASS OF APPROXIMATELY 26,000 MEMBER-OWNERS, EACH OF WHICH HAS EQUAL RIGHTS IN OWNERSHIP, GOVERNANCE, AND VOTING RIGHTS AT THE ANNUAL MEETINGS, WITH THE EXCEPTION OF THE MEMBER-OWNERS WHO ARE ELECTED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBER-OWNERS OF THE CREDIT UNION HAVE THE AUTHORITY TO ELECT THE MEMBERS OF THE BOARD OF DIRECTORS FOR THREE-YEAR TERMS ON A ROTATING BASIS. CANDIDATES ARE ELECTED BY A SIMPLE PLURALITY VOTE. THE BOARD OF DIRECTORS APPOINT VOLUNTEERS TO SERVE ON THE SUPERVISORY COMMITTEE, WHICH IS VESTED WITH MONITORING SAFETY AND SOUNDNESS OF THE ORGANIZATION. IF DEEMED APPROPRIATE, THE SUPERVISORY COMMITTEE CAN SUSPEND BOARD MEMBERS AND CAN CALL A SPECIAL MEETING OF THE MEMBERSHIP TO EVALUATE THE ISSUE AND VOTE TO EITHER DISMISS OR REINSTATE THE BOARD MEMBER. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO THE GOVERNING DOCUMENTS (BYLAWS) MUST BE APPROVED BY THE MEMBER-OWNERS AFTER THEY HAVE BEEN APPROVED BY THE BOARD OF DIRECTORS AND THE REGULATORY AGENCY. APPROVAL OCCURS WHEN AT LEAST 50% OF THE MEMBER-OWNERS VOTE TO APPROVE. FORM 990, PART VI, SECTION B, LINE 11B THE ACCOUNTING STAFF PREPARES THE NECESSARY DOCUMENTS FOR THE COMPLETION OF THE FORM 990. PRIOR TO BEING FILED WITH THE IRS, A MEMBER OF SENIOR MANAGEMENT REVIEWS THE RETURN FOR ACCURACY. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION DOES NOT HAVE A FORMAL CONFLICT OF INTEREST POLICY, HOWEVER, THERE IS A CODE OF ETHICS WHICH COVERS CONFLICTS OF INTEREST. THE CODE OF ETHICS AND CONFIDENTIALITY AGREEMENT IS SIGNED EACH YEAR BY ALL BOARD MEMBERS. THE AGREEMENTS ARE COLLECTED AND REVIEWED BY THE SUPERVISORY COMMITTEE. VIOLATION OF THE CODE OF ETHICS AND CONFIDENTIALITY AGREEMENT CAN RESULT IN REMOVAL FROM THE BOARD OR SUPERVISORY COMMITTEE. ANY POTENTIAL CONFLICTS OF INTERESTS THAT MAY APPEAR DURING THE YEAR ARE TO BE REPORTED TO THE CEO, CHAIR OF THE BOARD, AND OR CHAIR OF THE SUPERVISORY COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15A THE CEO'S COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD. THEY USE COMPARABLE INDUSTRY DATA PRODUCED BY AMERICA'S CREDIT UNIONS TO DETERMINE THE PAY RANGE. PERFORMANCE IS DOCUMENTED ON AN ANNUAL REVIEW FORM COMPLETED BY ALL BOARD DIRECTORS. THE COMPENSATION OF OTHER OFFICERS OR KEY EMPLOYEES IS DETERMINED BY THE CEO. THE CEO USE COMPARABLE INDUSTRY DATA PRODUCED BY AMERICA'S CREDIT UNIONS TO DETERMINE THE PAY RANGE. PERFORMANCE IS DOCUMENTED ON AN ANNUAL REVIEW FORM COMPLETED BY THE CEO. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE POSTED ON OUR WEBSITE AND PROVIDED TO MEMBERS DURING THE ANNUAL MEMBERSHIP MEETING. MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION'S BRANCH LOBBIES. OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: NET ASSETS ACQUIRED FROM MERGER WITH STAR CHOICE CREDIT UNION 4,113,813.