2013-06-17T15:03:55-05:00 2012-12-31 410746749 CLIFTONLARSONALLEN LLP PO BOX 217 AUSTIN MN 55912 990 2012-01-01 410204290 GREATER MINNESOTA CREDIT UNION GREA 3206793863 112 SOUTH LAKE STREET MORA MN 55051 ROXANN CARLSON 3206793863 2013-05-31 1 RICHARD J GABRIELSON P00001024 5074347000 2012 2016-03-07 17:11:31Z ROXANN CARLSON 112 SOUTH LAKE STREET MORA MN 55051 8239329 0 X WWW.GMCU.COM X 1935 MN TO CONDUCT THE ORDINARY AND NECESSARY BUSINESS OF A CREDIT UNION INVOLVING THE RECEIVING OF SAVINGS OF MEMBERS AND LENDING MONEY TO MEMBERS FOR PROVIDENT PURPOSES. 7 7 78 9 33048 -7851 0 0 8485998 7359813 255278 125601 0 0 8741276 7485414 2000 0 1241873 653135 2843627 2669780 0 0 0 3969101 4250309 8056601 7573224 684675 -87810 147714098 146464294 133617327 132455333 14096771 14008961 TO PROVIDE LOANS TO MEMBERS AND TO PAY DIVIDENDS ON MEMBER SHARE ACCOUNTS, SHAREDRAFT ACCOUNTS AND CERTIFICATES. 0 0 PROVIDING SAVINGS DEPOSIT SERVICES, ORIGINATING NEW LOANS AND SERVICING THE LOAN PORTFOLIO FOR MEMBERS. DIVIDENDS PAID TO MEMBERS ON 36,447 DEPOSIT ACCOUNTS HELD BY 20,002 MEMBERS TOTALING $653,135. RECORDING MEMBER ACCOUNT ACTIVITY AND PROVIDING ACCESS TO MEMBERS TO THEIR ACCOUNTS VIA HOME BANKING, ATM NETWORKS AND IN PERSON AT THE CREDIT UNION OFFICE. 0 0 0 0 0 0 0 0 0 1 0 0 1 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 1729 0 1 78 1 1 1 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 0 1 0 1 1 1 0 X ROXANN CARLSON 3206798117 112 SOUTH LAKE STREET MORA MN 55051 TERRY DALBEY 1.00 X 0 0 0 JASON HORRIGAN 1.00 X 0 0 0 ROBERT OERHLEIN 1.00 X 0 0 0 CARL ANDERSON 1.00 X 0 0 0 DARLA STENSTROM 1.00 X 0 0 0 JOHN SANDY 1.00 X 0 0 0 JACK SAHLSTROM 1.00 X 0 0 0 STEVE AHLNESS 40.00 X 157751 0 9445 ROXANN CARLSON 40.00 X 86595 0 7780 244346 0 17225 1 0 1 0 BLUE CROSS BLUE SHIELD OF MN PO BOX 64676 ST PAUL MN 55164 EMPLOYEE INSURANCE 237505 JACK HENRY AND ASSOCIATES PO BOX 503328 ST LOUIS MO 63150 DATAPROCESSING SERVICES 188577 LEE BERNET 2334 UNIVERSITY AVE/190 MIDTOWN ST PAUL MN 55114 LEGAL SERVICES 136537 NUSOURCE 9749 HAMILTON ROAD EDEN PRAIRIE MN 55344 EQUIPMENT/MAINTENANCE 135648 APEX PRINT TECHNOLOGIES 100 SOUTH OWASSO BLVD WEST ST PAUL MN 55117 PRINTING SERVICES 122304 5 INTEREST INCOME 900099 5037072 5037072 FEE INCOME 522100 1400671 1367623 33048 OPERATING INCOME 524298 922070 922070 7359813 314502 314502 565014 4425 749490 -4425 -184476 -188901 -188901 7485414 7326765 33048 125601 653135 261571 2061004 36122 99688 211395 3319 136198 828480 347907 42999 490252 PROVISION FOR LOAN LOSS 1400334 PROFESSIONAL & OUTSIDE 527087 LOAN SERVICING EXPENSE 273815 CORPORATE FUND ASSESSME 122582 77336 7573224 1271315 1216114 33507387 39442884 90742991 80273805 166476 143299 11308996 4692232 6957907 6616764 3500069 7500000 11567953 11271428 147714098 146464294 1552734 1218333 132064593 131237000 133617327 132455333 X 0 0 0 0 14096771 14008961 14096771 14008961 147714098 146464294 -87810 0 X 0 0 0 1355183 1355183 6448191 2069732 4378459 3505622 2622500 883122 6616764 OTHER ASSETS 5080501 FORECLOSED & REPOSSESSED ASSETS 2017811 NCUA SHARE INSURANCE DEPOSIT 1290333 ACCRUED INTEREST ON LOANS 268548 ACCRUED INTEREST ON INVESTMENTS 29403 INVESTMENTS IN OTHER CORPORATE CREDIT UNIONS 2584832 11271428 SHARE ACCOUNTS 42403191 SHARE DRAFTS 36797194 SHARE CERTIFICATES 38328782 IRA ACCOUNTS 13707833 131237000 X X 0 1 0 STEVE AHLNESS 157751 0 0 0 0 0 3155 0 6290 0 167196 0 0 0 PART I, LINE 4B STEVE AHLNESS $3,155 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS COMPRISED OF A SINGLE CLASS OF COMMUNITY CHARTERED MEMBER-OWNERS, EACH OF WHICH HAS EQUAL RIGHTS IN OWNERSHIP, GOVERNANCE AND VOTING RIGHTS AT THE ANNUAL MEETINGS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, AS VACANCIES ARISE, OR OTHERWISE. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11 PRIOR TO BEING FILED WITH THE IRS, A COPY OF THE IRS FORM 990 AND RELATED SCHEDULES ARE REVIEWED BY THE CEO AND CFO. THE FORM IS ALSO REVIEWED AND APPROVED AT A BOARD MEETING PRIOR TO SUBMITTAL TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION HAS A CODE OF CONDUCT POLICY IN PLACE FOR DIRECTORS, SUPERVISORY COMMITTEE MEMBERS, MANAGEMENT AND STAFF. THIS POLICY IS DESIGNED TO ASSURE THE AFFAIRS OF THE CREDIT UNION ARE CONDUCTED IN A MANNER THAT FOSTERS THE FAVORABLE IMAGE AND REPUTATION OF THE CREDIT UNION, THE ELECTED OFFICIALS AND MANAGEMENT; AVOID POTENTIAL CONFLICTS OF INTEREST AND PERSONAL GAIN; MAINTAIN AND PROMOTE INTEGRITY IN THE ADMINISTRATION AND OPERATION OF ALL THE AFFAIRS OF THE CREDIT UNION. ALL DIRECTORS, SUPERVISORY COMMITTEE MEMBERS, MANAGEMENT AND EMPLOYEES ARE REQUIRED TO DISCLOSE UPON EMPLOYMENT/NOMINATION ANNUALLY AND AS CHANGES OCCUR THEREAFTER. DISCLOSURES ARE MADE ON THE CONFLICT OF INTEREST STATEMENT, WHICH ARE ALL REVIEWED BY INTERNAL AUDIT. THESE DISCLOSURES ARE MAINTAINED WITHIN THE HUMAN RESOURCES DEPARTMENT. FORM 990, PART VI, SECTION B, LINE 15 THE CU USES A COMPENSATION RESEARCH FIRM (HRN MANAGEMENT GROUP) TO PROVIDE COMPARABLE MARKET RATES OF THE REGION AND OF PEERS TO HELP THE CU DETERMINE SALARIES FOR THEIR EMPLOYEES ON AN ANNUAL BASIS. THE VP OF HR RECEIVES THESE REPORTS AND INFORMATION AND INTEGRATES THEM INTO THE CU'S COMPENSATION AND JOB EVALUATION PROCESS. THE VP OF HR AUTHORIZES ALL NEW HIRES AND DETERMINES COMPENSATION IN ACCORDANCE WITH THE CREDIT UNION'S COMPENSATION POLICY AND GUIDELINES. THE VP OF HR CALCULATES MERIT INCREASES IN ACCORDANCE WITH THE COMPENSATION POLICY AND GUIDELINES, AND THE CEO HAS FINAL APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN EACH BRANCH LOBBY. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST.