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Nonprofiteer
← CO-OP CREDIT UNION

Form 990 for tax year 2025

Filed by CO-OP CREDIT UNION.

Totals

Total revenue
$32,911,198
Total expenses
$26,885,527
Contributions and grants received
$58,656
Grants paid
$58,552
Program service revenue
$29,774,542
Investment income
$3,013,671
Other revenue
$64,329
Total assets, end of year
$601,424,382
Total liabilities, end of year
$532,530,359
Net assets or fund balances, end of year
$68,894,023
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $58,656

  • 2a · Program service revenue: INTEREST ON LOANS

    total $26,790,594 · related or exempt $26,790,594

  • 2b · Program service revenue: OTHER MEMBER SERVICE FEES

    total $2,186,997 · related or exempt $2,177,701 · unrelated business $9,296

  • 2c · Program service revenue: MEMBER LOAN FEES

    total $440,836 · related or exempt $440,836

  • 2d · Program service revenue: INSURANCE SALES

    total $231,425 · related or exempt $231,425

  • 2e · Program service revenue: OFFICER LOAN INCOME

    total $96,170 · related or exempt $96,170

  • 2f · All other program service revenue

    total $28,520 · related or exempt $28,520

  • 3 · Investment income

    total $3,046,882 · excluded $3,046,882

  • 5 · Royalties

    total $44,425 · excluded $44,425

  • 6a · Gross rents

    real property $19,040

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $19,040

  • 6d · Net rental income or loss

    total $19,040 · excluded $19,040

  • 7a · Gross sales of assets other than inventory

    other assets $83,105

  • 7b · Less cost or other basis and sales expenses

    other assets $116,316

  • 7c · Gain or loss

    other assets -$33,211

  • 7d · Net gain or loss

    total -$33,211 · excluded -$33,211

  • 11d · All other revenue

    total $864 · related or exempt $864

  • 11e · Other revenue, total

    $864

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $58,552

  • 4 · Benefits paid to or for members

    total $11,563,801

  • 5 · Compensation of officers, directors and key employees

    total $1,271,263

  • 7 · Other salaries and wages

    total $3,538,009

  • 8 · Pension plan contributions

    total $296,959

  • 9 · Other employee benefits

    total $2,029,610

  • 10 · Payroll taxes

    total $378,046

  • 11b · Fees: legal

    total $135,593

  • 11c · Fees: accounting

    total $57,691

  • 11g · Fees: other

    total $141,802

  • 12 · Advertising and promotion

    total $433,703

  • 13 · Office expenses

    total $834,180

  • 14 · Information technology

    total $932,240

  • 16 · Occupancy

    total $447,996

  • 17 · Travel

    total $75,601

  • 19 · Conferences, conventions and meetings

    total $169,970

  • 20 · Interest

    total $1

  • 22 · Depreciation, depletion and amortization

    total $711,421

  • 23 · Insurance

    total $98,414

  • 24a · Other expenses: CARDS & ATM EXPENSE

    total $1,921,486

  • 24b · Other expenses: SERVICING EXPENSE

    total $737,275

  • 24c · Other expenses: PROVISION FOR CREDIT LO

    total $719,444

  • 24d · Other expenses: DUES & ASSESSMENTS

    total $85,694

  • 24e · All other expenses

    total $246,776

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,983,638 · end of year $5,528,077

  • 2 · Savings and temporary cash investments

    beginning of year $59,519,080 · end of year $35,178,846

  • 4 · Accounts receivable

    beginning of year $1,460,440 · end of year $1,637,196

  • 5 · Loans and receivables from officers and key people

    beginning of year $3,732,402 · end of year $3,814,281

  • 7 · Other notes and loans receivable

    beginning of year $458,219,186 · end of year $506,839,148

  • 9 · Prepaid expenses and deferred charges

    beginning of year $437,432 · end of year $559,814

  • 10a · Land, buildings and equipment: cost or other basis

    $16,623,965

  • 10b · Land, buildings and equipment: accumulated depreciation

    $7,364,015

  • 10c · Land, buildings and equipment, net

    beginning of year $9,234,545 · end of year $9,259,950

  • 11 · Investments: publicly traded securities

    beginning of year $11,028,322 · end of year $11,220,514

  • 12 · Investments: other securities

    beginning of year $1,492,000 · end of year $2,582,000

  • 13 · Investments: program-related

    beginning of year $3,287,943 · end of year $3,375,943

  • 15 · Other assets

    beginning of year $20,349,857 · end of year $21,428,613

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,575,690 · end of year $4,048,808

  • 19 · Deferred revenue

    beginning of year $165,201 · end of year $315,498

  • 21 · Escrow or custodial account liability

    beginning of year $1,426,469 · end of year $1,449,515

  • 25 · Other liabilities

    beginning of year $502,767,536 · end of year $526,716,538

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $62,809,949 · end of year $68,894,023

Mission and programs · 2025

Mission

SERVING OUR MEMBERS, WHERE THEY ARE, THROUGH ALL STAGES OF LIFE.

  • CCU HAD DEPOSIT, TRANSACTION, AND INVESTMENT ACCOUNTS WITH 23,551 OF OUR MEMBERS AT 12/31. DURING 2025, CCU OPENED 7,162 NEW DEPOSIT, TRANSACTION AND INVESTMENT ACCOUNTS.

  • CCU FUNDED 3,978 LOANS DURING 2025. AS OF 12/31/25, CCU SERVICED 4,049 MORTGAGES/HOME EQUITY LOANS, 7,712 CONSUMER LOANS, 939 MEMBER BUSINESS LOANS, AND 3,517 CREDIT CARD ACCOUNTS WITH OUR MEMBERS.

As filed on the 2025 return.

Listed in Part VII

  • Sarah Lebakken

    VICE CHAIR

    Total calculated
    $8,530
    From this org
    $8,530
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • David Overlien

    SECRETARY

    Total calculated
    $7,867
    From this org
    $7,867
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Timothy Torkelson

    CHAIR

    Total calculated
    $7,608
    From this org
    $7,608
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Timothy Byom

    DIRECTOR

    Total calculated
    $7,170
    From this org
    $7,170
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • David Olson

    DIRECTOR

    Total calculated
    $6,925
    From this org
    $6,925
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Steven Hogden

    TREASURER

    Total calculated
    $6,460
    From this org
    $6,460
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Carol Martin

    DIRECTOR

    Total calculated
    $6,449
    From this org
    $6,449
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Timothy Tranberg

    PRESIDENT/CEO

    Total calculated
    $287,495
    From this org
    $236,139
    From related orgs
    $0
    Other
    $51,356
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $188,545
    Bonus
    $40,920
    Other
    $6,674
    Deferred
    $23,614
    Nontaxable benefits
    $27,742
    Filer's total
    $287,495

  • Michele Steien

    CHIEF TALENT OFFICER

    Total calculated
    $170,264
    From this org
    $135,794
    From related orgs
    $0
    Other
    $34,470
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $96,676
    Bonus
    $26,247
    Other
    $12,871
    Deferred
    $13,579
    Nontaxable benefits
    $20,891
    Filer's total
    $170,264

  • Megan Ellingson

    CHIEF FINANCIAL OFFICER

    Total calculated
    $164,431
    From this org
    $115,956
    From related orgs
    $0
    Other
    $48,475
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $86,848
    Bonus
    $26,731
    Other
    $2,377
    Deferred
    $11,596
    Nontaxable benefits
    $36,879
    Filer's total
    $164,431

  • Marianne Torkelson

    CHIEF DEVELOPMENT OFFICER

    Total calculated
    $159,143
    From this org
    $115,728
    From related orgs
    $0
    Other
    $43,415
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $87,500
    Bonus
    $26,882
    Other
    $1,346
    Deferred
    $41,909
    Nontaxable benefits
    $1,506
    Filer's total
    $159,143

  • Jayme Thompson

    CHIEF LENDING OFFICER

    Total calculated
    $158,742
    From this org
    $120,955
    From related orgs
    $0
    Other
    $37,787
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $97,935
    Bonus
    $20,528
    Other
    $2,492
    Deferred
    $12,095
    Nontaxable benefits
    $25,692
    Filer's total
    $158,742

  • Kris Goetzka

    CHIEF OPERATIONS OFFICER

    Total calculated
    $151,031
    From this org
    $115,224
    From related orgs
    $0
    Other
    $35,807
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $85,895
    Bonus
    $29,329
    Other
    $0
    Deferred
    $11,522
    Nontaxable benefits
    $24,285
    Filer's total
    $151,031

  • Eric Skogstad

    CHIEF COMPLIANCE OFFICER

    Total calculated
    $129,148
    From this org
    $115,704
    From related orgs
    $0
    Other
    $13,444
    Hours/week
    40

  • Kim Byom

    VP OPERATIONS

    Total calculated
    $130,637
    From this org
    $100,806
    From related orgs
    $0
    Other
    $29,831
    Hours/week
    40

  • Stephanie Aleckson

    VP ACCOUNTING

    Total calculated
    $120,846
    From this org
    $108,321
    From related orgs
    $0
    Other
    $12,525
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
ALL EMPLOYEES ARE OFFERED GOLF AND WELLNESS MEMBERSHIPS AT 50% UP TO $400. THE PRESIDENT/CEO'S GOLF MEMBERSHIP IS PAID FOR IN FULL BY THE CREDIT UNION. EXPENSES FOR OFFICERS AND HIGHEST COMPENSATED EMPLOYEES ARE AS FOLLOWS AND WERE INCLUDED IN TAXABLE COMPENSATION: GOLF MEMBERSHIP PARTICIPANTS: - ERIC SKOGSTAD $400 - TIM TRANBERG $920 - JAYME THOMPSON $400 WELLNESS REIMBURSEMENT PARTICIPANTS: - MEGAN ELLINGSON $368 - JAYME THOMPSON $225 - MARIANNE TORKELSON $400
PART I, LINE 4B
MARIANNE TORKELSON PARTICIPATES IN A DEFERRED BONUS PLAN. ACCRUALS RELATING TO THIS PLAN DURING 2025: - MARIANNE TORKELSON $30,336 THERE WERE NO PAYOUTS FROM THIS PLAN DURING 2025.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2025
Filed
30 April 2026
IRS schema version
2025v4.1
Source object
202611259349300831

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