2026-07-29T17:12:25-05:00 2025-12-31 410746749 CLIFTONLARSONALLEN LLP 2875 MICHELLE DRIVE 300 IRVINE CA 92606 990 2025-01-01 410800081 NOVATION CREDIT UNION NOVA 6517398080 500 IMPERIAL AVE OAKDALE MN 551287151 TERRY KAHLE SVP/CFO 6517398080 2026-07-29 1 LISA N RYSSEL CPA P00643670 7147955370 2026-07-29 2025 2025-03-06 01:10:19Z TERRY KAHLE 500 IMPERIAL AVE OAKDALE MN 551287151 14685519 0 X WWW.NOVATION.ORG X CREDIT UNION 1954 MN NOVATION CREDIT UNION IS A NOT-FOR-PROFIT FINANCIAL COOPERATIVE PROVIDING 14,500 MEMBER OWNERS. 9 9 39 0 17266 0 0 0 11328922 12536156 2145788 2149363 0 0 13474710 14685519 0 0 3008436 3252990 3822702 3921479 0 0 0 4103749 4694547 10934887 11869016 2539823 2816503 232490083 241762987 210130995 216378215 22359088 25384772 TO OFFER PERSONALIZED FINANCIAL SOLUTIONS EXCLUSIVELY TO 3M EMPLOYEES, MCLEOD COUNTY, SOLVENTUM EMPLOYEES, WASHINGTON COUNTY, AND NOVATION CREDIT UNION FOUNDATION DONORS AND THEIR FAMILIES. 0 0 LENDING:PROVIDE VEHICLE, REAL ESTATE, STUDENT, VISA AND OTHER LOANS TO 14,500 MEMBER OWNERS. SAVINGS:PROVIDE CHECKING AND SAVINGS PRODUCTS INCLUDING ATM, DEBIT CARDS, DIRECT DEPOSIT, ONLINE BANKING, ACH AND MOBILE PAYMENTS TO 14,500 MEMBER OWNERS. INVESTMENT:PROVIDE COMPETITIVE SAVINGS AND INVESTMENT OPPORTUNITIES AND RETIREMENT PLANNING SERVICES TO MEMBER OWNERS. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 1 9236 0 1 39 1 1 1 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 1 1 0 1 1 1 1 1 1 1 0 X TERRY KAHLE 6517359957 500 IMPERIAL AVENUE NORTH OAKDALE MN 55128 MARY EDINGER BOARD CHAIR 2.00 0.00 X X 3900 0 0 JOSEPH PAUL DIRECTOR 1.00 0.00 X 2100 0 0 JOHN SCHWALBACH DIRECTOR 1.00 0.00 X 2100 0 0 MATT JUHL VICE CHAIR 1.00 0.00 X X 2100 0 0 DARYL THOENNES DIRECTOR 1.00 0.00 X 2100 0 0 DAN CARLSON DIRECTOR 1.00 0.00 X 2100 0 0 ROBERT KODY DIRECTOR 1.00 0.00 X 2100 0 0 MICHELLE NEPHEW DIRECTOR 2.00 0.00 X 3900 0 0 ERDEM OLGUN DIRECTOR 1.00 0.00 X 1800 0 0 MIKE KRONEBUSCH PRESIDENT/CEO 50.00 0.00 X 312624 0 7935 TERRY KAHLE VP OF FINANCE/CFO 50.00 0.00 X 279193 0 17384 NICK ALTAVILLA VP OF DIGITAL EXPERIENCE & OPERATIONS 50.00 0.00 X 131958 0 7691 TODD BRANDEL CHIEF LENDING OFFICER 50.00 0.00 X 111591 0 25244 TYLER SACHE VP OF MARKETING & STRATEGY 50.00 0.00 X 196490 0 1635 LOTI SCHAETZKA DIRECTOR OF TECHNOLOGY 50.00 0.00 X 112559 0 19574 SARAH CARTER DIRECTOR OF MEMBER EXPERIANCE 50.00 0.00 X 106561 0 16527 1273176 0 95990 7 0 1 0 G&A OUTSOURCING LLC 17220 KATY FREEWAY SUITE 350 HOUSTON TX 77094 PEO SERVICES 657835 VELERA 560 CARILLON PARKWAY ST PETERBURGS FL 33716 CARD PROCESSING 626463 FISERV INC PO BOX 934057 ATLANTA GA 311934057 ACCOUNT PROCESSING 339552 CANDESCENT PO BOX 74061 LOS ANGELES CA 900740641 E SERVICES 307741 RSM US LLP 5155 PAYSPHERE CIRCLE CHICAGO IL 60674 IT/NETWORK MANAGED SERVICES 231475 7 LOAN INTEREST INCOME 522100 9538344 9538344 OTHER INCOME 522100 2535300 2529525 5775 FEE INCOME 522100 462512 451021 11491 12536156 2149363 2149363 14685519 12518890 17266 2149363 3252990 1113945 1955810 212742 638982 1428 101084 995724 244892 1279136 215302 98295 333334 LOAN SERVICING EXPENSE 705966 CREDIT LOSS PROVISION 621281 MISCELLANEOUS OPERATING 83705 OPERATING FEES 14400 11869016 1652208 1535242 39354056 38277599 76236 63353 2917861 2929811 164198723 170074176 518468 446027 7056332 5025826 1909851 2030506 15436047 19768606 6426633 6637667 232490083 241762987 1559548 1475076 208571447 214903139 210130995 216378215 X 0 0 0 0 22359088 25384772 22359088 25384772 232490083 241762987 2816503 209181 0 X X 0 0 0 734664 734664 1932928 1389381 543547 358661 327610 31051 3736906 3189493 547413 293173 119342 173831 2030506 AFS DEBT SECURITIES 13177568 F FEDERAL HOME LOAN BANK STOCK 139500 C HTM DEBT SECURITIES 6451538 C 19768606 MEMBER SHARES ALL TYPES 214903139 214903139 X PART X, LINE 2: THE CREDIT UNION IS GENERALLY EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES AND STATE CORPORATE BUSINESS TAX. HOWEVER, THE CREDIT UNION IS SUBJECT TO FEDERAL TAX ON NET UNRELATED BUSINESS INCOME. 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 STATEMENTS. INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS ARE CLASSIFIED AS INCOME TAX EXPENSE. X X 0 1 0 MIKE KRONEBUSCH PRESIDENT/CEO 267372 0 45252 0 0 0 0 0 7935 0 320559 0 0 0 TERRY KAHLE VP OF FINANCE/CFO 156432 0 22761 0 100000 0 0 0 17384 0 296577 0 0 0 TYLER SACHE VP OF MARKETING & STRATEGY 173028 0 23462 0 0 0 0 0 1635 0 198125 0 0 0 PART I, LINE 4B TERRY KAHLE'S COMPENSATION REPORTED ON FORM 990, PART VII INCLUDED $100,000 FOR SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN; TERMS AND CONDITIONS WERE AS FOLLOWS: 457(F) PAYOUT OF $100,000 MICHAEL KRONEBUSCH PRESIDENT/CEO SPLIT DOLLAR LOAN X 2750000 2929811 0 1 1 2929811 SCHEDULE L, PART II SPLIT DOLLAR LOANS ARE RECORDED ON THE FINANCIAL STATEMENTS AT THEIR CASH SURRENDER VALUE. THE LOAN + ACCRUED INTEREST VALUE FOR EACH LOAN ARE: MICHAEL KRONEBUSCH: $3,045,318 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. 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 A, LINE 8B NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE 990 WILL BE PROVIDE UPON WRITTEN REQUEST TO THE CFO. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS SIGNED OFF ANNUALLY BY STAFF AS PART OF OUR EMPLOYEE HANDBOOK AND IS ONLY MONITORED BY SELF-DISCLOSURE. 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 FULL BOARD FOR APPROVAL. THE CEO REVIEWS SURVEY DATA AND PROGRESS ON CREDIT UNION GOALS IN DETERMINING MANAGEMENT AND OTHER EMPLOYEE COMPENSATION. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2025. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE MADE AVAILABLE IN THE ANNUAL REPORT, NCUA WEBSITE AND ARE POSTED IN THE MAIN BRANCH LOBBY. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. NOVATION CREDIT UNION FOUNDATION 500 IMPERIAL AVE OAKDALE MN 551287151 922763426 COMMUNITY FOUNDATION MN 501(C)3 NOVATION CREDIT UNION 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0