Form 990 for tax year 2022

Filed by CAPITAL CREDIT UNION.

Totals

Total revenue: $32,810,003
Total expenses: $25,814,938
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $31,411,689
Investment income: $461,199
Other revenue: $937,115
Total assets, end of year: $724,151,270
Total liabilities, end of year: $643,185,799
Net assets or fund balances, end of year: $80,965,471
Program services expenses (Part IX): $25,814,938
Management and general expenses: $0
Fundraising expenses: $0
Program service expenses (Part III): $25,814,938

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

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.

1a · Federated campaigns

$0
1b · Membership dues

$0
1c · Fundraising events

$0
1d · Related organizations

$0
1e · Government grants (contributions)

$0
1f · All other contributions, gifts and grants

$0
1g · Noncash contributions included above

$0
2a · Program service revenue: LOAN INTEREST INCOME

total $23,694,911 · related or exempt $23,694,911 · unrelated business $0 · excluded $0
2b · Program service revenue: FEES INTERCHANGE INCOME

total $5,225,334 · related or exempt $5,161,928 · unrelated business $63,407 · excluded $0
2c · Program service revenue: MORTGAGE LENDING FEES

total $2,491,444 · related or exempt $2,491,444 · unrelated business $0 · excluded $0
2d · Program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
2e · Program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
2f · All other program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
3 · Investment income

total $681,538 · related or exempt $681,538 · unrelated business $0 · excluded $0
4 · Income from investment of tax-exempt bond proceeds

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
5 · Royalties

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
6a · Gross rents

real property $99,642 · personal property $0
6b · Less rental expenses

real property $64,475 · personal property $0
6c · Rental income or loss

real property $35,167 · personal property $0
6d · Net rental income or loss

total $35,167 · related or exempt $35,167 · unrelated business $0 · excluded $0
7a · Gross sales of assets other than inventory

securities $11,267,520 · other assets $192,455
7b · Less cost or other basis and sales expenses

securities $11,261,601 · other assets $418,713
7c · Gain or loss

securities $5,919 · other assets -$226,258
7d · Net gain or loss

total -$220,339 · related or exempt -$220,339 · unrelated business $0 · excluded $0
8a · Fundraising events: gross income

$0
8a · Fundraising events: contributions included on line 1c

$0
8b · Fundraising events: direct expenses

$0
8c · Net income from fundraising events

total $0 · unrelated business $0 · excluded $0
9a · Gaming: gross income

$0
9b · Gaming: direct expenses

$0
9c · Net income from gaming

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
10a · Gross sales of inventory

$0
10b · Cost of goods sold

$0
10c · Net income from sales of inventory

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11a · Other revenue: INCOME SPLIT DOLLAR LOAN

total $315,554 · related or exempt $315,554 · unrelated business $0 · excluded $0
11b · Other revenue: LOAN INSURANCE SALES

total $234,497 · related or exempt $234,497 · unrelated business $0 · excluded $0
11c · Other revenue: CREDIT UNIONS

total $218,099 · related or exempt $218,099 · unrelated business $0 · excluded $0
11d · All other revenue

total $133,798 · related or exempt $123,366 · unrelated business $10,432 · excluded $0
11e · Other revenue, total

$901,948

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $0 · program services $0
2 · Grants to domestic individuals

total $0 · program services $0
3 · Grants to foreign organizations and individuals

total $0 · program services $0
4 · Benefits paid to or for members

total $0 · program services $0
5 · Compensation of officers, directors and key employees

total $2,798,946 · program services $2,798,946 · management and general $0 · fundraising $0
6 · Compensation of disqualified persons

total $0 · program services $0 · management and general $0 · fundraising $0
7 · Other salaries and wages

total $7,136,924 · program services $7,136,924 · management and general $0 · fundraising $0
8 · Pension plan contributions

total $384,775 · program services $384,775 · management and general $0 · fundraising $0
9 · Other employee benefits

total $1,050,829 · program services $1,050,829 · management and general $0 · fundraising $0
10 · Payroll taxes

total $699,243 · program services $699,243 · management and general $0 · fundraising $0
11a · Fees: management

total $0 · program services $0 · management and general $0 · fundraising $0
11b · Fees: legal

total $39,275 · program services $39,275 · management and general $0 · fundraising $0
11c · Fees: accounting

total $92,568 · program services $92,568 · management and general $0 · fundraising $0
11d · Fees: lobbying

total $0 · program services $0 · management and general $0 · fundraising $0
11e · Fees: professional fundraising services

total $0 · fundraising $0
11f · Fees: investment management

total $27,053 · program services $27,053 · management and general $0 · fundraising $0
11g · Fees: other

total $434,023 · program services $434,023 · management and general $0 · fundraising $0
12 · Advertising and promotion

total $1,509,487 · program services $1,509,487 · management and general $0 · fundraising $0
13 · Office expenses

total $1,205,198 · program services $1,205,198 · management and general $0 · fundraising $0
14 · Information technology

total $1,306,868 · program services $1,306,868 · management and general $0 · fundraising $0
15 · Royalties

total $0 · program services $0 · management and general $0 · fundraising $0
16 · Occupancy

total $1,004,884 · program services $1,004,884 · management and general $0 · fundraising $0
17 · Travel

total $22,227 · program services $22,227 · management and general $0 · fundraising $0
18 · Travel or entertainment for public officials

total $0 · program services $0 · management and general $0 · fundraising $0
19 · Conferences, conventions and meetings

total $128,418 · program services $128,418 · management and general $0 · fundraising $0
20 · Interest

total $1,597,345 · program services $1,597,345 · management and general $0 · fundraising $0
21 · Payments to affiliates

total $0 · program services $0 · management and general $0 · fundraising $0
22 · Depreciation, depletion and amortization

total $1,070,137 · program services $1,070,137 · management and general $0 · fundraising $0
23 · Insurance

total $133,252 · program services $133,252 · management and general $0 · fundraising $0
24a · Other expenses: PROVISION FOR LOAN LOSS

total $2,160,507 · program services $2,160,507 · management and general $0 · fundraising $0
24b · Other expenses: CARD SERVICES

total $1,809,357 · program services $1,809,357 · management and general $0 · fundraising $0
24c · Other expenses: LOAN PROGRAM EXPENSES

total $449,492 · program services $449,492 · management and general $0 · fundraising $0
24d · Other expenses: FEDERAL & STATE SUPERVISORY FEES

total $116,918 · program services $116,918 · management and general $0 · fundraising $0
24e · All other expenses

total $637,212 · program services $637,212 · management and general $0 · fundraising $0
26 · Joint costs (an allocation of the lines above)

total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $4,111,753 · end of year $3,733,888
2 · Savings and temporary cash investments

beginning of year $66,744,933 · end of year $45,582,329
3 · Pledges and grants receivable

beginning of year $0 · end of year $0
4 · Accounts receivable

beginning of year $510,513 · end of year $566,683
5 · Loans and receivables from officers and key people

beginning of year $4,668,422 · end of year $15,101,528
6 · Loans and receivables from disqualified persons

beginning of year $0 · end of year $0
7 · Other notes and loans receivable

beginning of year $488,481,516 · end of year $546,909,993
8 · Inventories for sale or use

beginning of year $0 · end of year $0
9 · Prepaid expenses and deferred charges

beginning of year $519,264 · end of year $386,961
10a · Land, buildings and equipment: cost or other basis

$27,359,857
10b · Land, buildings and equipment: accumulated depreciation

$10,977,101
10c · Land, buildings and equipment, net

beginning of year $14,817,106 · end of year $16,382,756
11 · Investments: publicly traded securities

beginning of year $7,137,401 · end of year $3,422,594
12 · Investments: other securities

beginning of year $94,182,707 · end of year $77,808,248
13 · Investments: program-related

beginning of year $6,196,403 · end of year $7,349,280
14 · Intangible assets

beginning of year $2,042,158 · end of year $1,926,794
15 · Other assets

beginning of year $3,185,283 · end of year $4,980,216
17 · Accounts payable and accrued expenses

beginning of year $5,419,111 · end of year $7,926,729
18 · Grants payable

beginning of year $0 · end of year $0
19 · Deferred revenue

beginning of year $0 · end of year $0
20 · Tax-exempt bond liabilities

beginning of year $0 · end of year $0
21 · Escrow or custodial account liability

beginning of year $4,059,267 · end of year $4,189,178
22 · Loans and payables to officers and key people

beginning of year $0 · end of year $0
23 · Secured mortgages and notes payable

beginning of year $0 · end of year $0
24 · Unsecured notes and loans payable

beginning of year $0 · end of year $20,804,595
25 · Other liabilities

beginning of year $602,666,080 · end of year $610,265,297
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 $80,453,001 · end of year $80,965,471

Mission and programs · 2022

Mission

TO BE THE TRUSTED FINANCIAL RESOURCE THAT PUTS MEMBERS FIRST.

OUR CREDIT UNION WAS SERVING 30942 MEMBERS AS IF DECEMBER 31 2022. OUR PROGRAM OBJECTIVES ARE TO BE THE TRUSTED FINANCIAL RESOURCE THAT PUTS MEMBER FIRST AND TO BE THE BEST CHOICE FOR FINANCIAL SERVICES IN OUR MARKET. OUR PROGRAM OFFERS OUR MEMBERS A VARIETY OF PRODUCTS INCLUDING BUT NOT LIMITED TO: LOANS SAVINGS AND CHECKING ACCOUNTS CERTIFICATES OF DEPOSIT CARD AND DIGITAL SERVICES.

Expenses $25,814,938

As filed on the 2022 return.

Listed in Part VII

Vance ReinboldVANCE REINBOLD

PRESIDENT CEO

Total calculated

$524,250

From this org

$476,715

From related orgs

$0

Other

$47,535

Hours/week

45

Schedule J breakdown matched by us

Base

$396,039

Bonus

$78,108

Other

$2,568

Deferred

$0

Nontaxable benefits

$47,535

Filer's total

$524,250
Bradley ShetlerBRADLEY SHETLER

BISMARCK-MANDAN MARKET PRESIDENT

Total calculated

$321,765

From this org

$282,352

From related orgs

$0

Other

$39,413

Hours/week

45

Schedule J breakdown matched by us

Base

$157,473

Bonus

$124,258

Other

$621

Deferred

$0

Nontaxable benefits

$39,413

Filer's total

$321,765
Joshua HahnJOSHUA HAHN

BUSINESS LOAN OFFICER

Total calculated

$292,829

From this org

$269,521

From related orgs

$0

Other

$23,308

Hours/week

45

Schedule J breakdown matched by us

Base

$78,660

Bonus

$190,658

Other

$203

Deferred

$0

Nontaxable benefits

$23,308

Filer's total

$292,829
Scott BullingerSCOTT BULLINGER

MLO - BUSINESS DEVELOPMENT SPECIALIST

Total calculated

$262,691

From this org

$222,038

From related orgs

$0

Other

$40,653

Hours/week

45

Schedule J breakdown matched by us

Base

$70,677

Bonus

$150,578

Other

$782

Deferred

$0

Nontaxable benefits

$40,654

Filer's total

$262,691
Jonathan GriffinJONATHAN GRIFFIN

CHIEF LENDING OFFICER

Total calculated

$245,287

From this org

$219,913

From related orgs

$0

Other

$25,374

Hours/week

45

Schedule J breakdown matched by us

Base

$180,794

Bonus

$38,639

Other

$480

Deferred

$0

Nontaxable benefits

$25,374

Filer's total

$245,287
Keith MantzKEITH MANTZ

CHIEF RETAIL OFFICER

Total calculated

$238,403

From this org

$212,236

From related orgs

$0

Other

$26,167

Hours/week

45

Schedule J breakdown matched by us

Base

$176,076

Bonus

$34,607

Other

$1,553

Deferred

$0

Nontaxable benefits

$26,167

Filer's total

$238,403
Douglas LeeDOUGLAS LEE

MARKET PRESIDENT - EAST REGION

Total calculated

$235,219

From this org

$218,473

From related orgs

$0

Other

$16,746

Hours/week

45

Schedule J breakdown matched by us

Base

$90,793

Bonus

$126,926

Other

$754

Deferred

$0

Nontaxable benefits

$16,746

Filer's total

$235,219
Kurt SchmidtKURT SCHMIDT

CHIEF INFORMATION OFFICER

Total calculated

$207,135

From this org

$192,602

From related orgs

$0

Other

$14,533

Hours/week

45

Schedule J breakdown matched by us

Base

$167,170

Bonus

$24,186

Other

$1,245

Deferred

$0

Nontaxable benefits

$14,533

Filer's total

$207,134
Kevin KragnesKEVIN KRAGNES

MARKET PRESIDENT - EAST REGION

Total calculated

$181,410

From this org

$167,001

From related orgs

$0

Other

$14,409

Hours/week

45

Schedule J breakdown matched by us

Base

$78,803

Bonus

$87,750

Other

$448

Deferred

$0

Nontaxable benefits

$14,409

Filer's total

$181,410
Kathleen StopplerKATHLEEN STOPPLER

MLO - UNDERWRITING

Total calculated

$175,815

From this org

$154,163

From related orgs

$0

Other

$21,652

Hours/week

45

Schedule J breakdown matched by us

Base

$55,874

Bonus

$95,099

Other

$3,190

Deferred

$0

Nontaxable benefits

$21,652

Filer's total

$175,815
Dustin BitzDUSTIN BITZ

VP OF MEMBER SERVICES

Total calculated

$175,795

From this org

$145,080

From related orgs

$0

Other

$30,715

Hours/week

45

Schedule J breakdown matched by us

Base

$126,276

Bonus

$18,240

Other

$564

Deferred

$0

Nontaxable benefits

$30,715

Filer's total

$175,795
Patricia OlsonPATRICIA OLSON

VP OF HUMAN RESOURCES

Total calculated

$175,079

From this org

$141,738

From related orgs

$0

Other

$33,341

Hours/week

45

Schedule J breakdown matched by us

Base

$122,615

Bonus

$18,472

Other

$651

Deferred

$0

Nontaxable benefits

$33,341

Filer's total

$175,079
Ryan MonsonRYAN MONSON

CHIEF FINANCIAL OFFICER

Total calculated

$174,990

From this org

$161,412

From related orgs

$0

Other

$13,578

Hours/week

45

Schedule J breakdown matched by us

Base

$152,645

Bonus

$8,412

Other

$355

Deferred

$0

Nontaxable benefits

$13,578

Filer's total

$174,990
Kacie IglehartKACIE IGLEHART

BUSINESS LOAN OFFICER

Total calculated

$165,555

From this org

$131,963

From related orgs

$0

Other

$33,592

Hours/week

45

Schedule J breakdown matched by us

Base

$87,706

Bonus

$43,791

Other

$466

Deferred

$0

Nontaxable benefits

$33,592

Filer's total

$165,555
Sean SmithSEAN SMITH

VP OF LEGAL RISK MANAGEMENT

Total calculated

$157,888

From this org

$146,545

From related orgs

$0

Other

$11,343

Hours/week

45

Schedule J breakdown matched by us

Base

$127,282

Bonus

$18,496

Other

$767

Deferred

$0

Nontaxable benefits

$11,343

Filer's total

$157,888
Jillian LagasseJILLIAN LAGASSE

VP OF MARKETING

Total calculated

$152,198

From this org

$118,280

From related orgs

$0

Other

$33,918

Hours/week

45

Schedule J breakdown matched by us

Base

$102,786

Bonus

$15,031

Other

$463

Deferred

$0

Nontaxable benefits

$33,918

Filer's total

$152,198
Nanette FortNANETTE FORT

MORTGAGE UNDERWRITER

Total calculated

$151,848

From this org

$126,632

From related orgs

$0

Other

$25,216

Hours/week

45

Schedule J breakdown matched by us

Base

$121,134

Bonus

$4,575

Other

$923

Deferred

$0

Nontaxable benefits

$25,216

Filer's total

$151,848
Jay BuringrudJAY BURINGRUD

BOARD MEMBER

Total calculated

$2,000

From this org

$2,000

From related orgs

$0

Other

$0

Hours/week

4
Lance GaebeLANCE GAEBE

BOARD MEMBER

Total calculated

$2,000

From this org

$2,000

From related orgs

$0

Other

$0

Hours/week

4
Kevin SchoenbornKEVIN SCHOENBORN

BOARD MEMBER

Total calculated

$1,542

From this org

$1,542

From related orgs

$0

Other

$0

Hours/week

4
Marlina WalthMARLINA WALTH

BOARD MEMBER

Total calculated

$1,450

From this org

$1,450

From related orgs

$0

Other

$0

Hours/week

4
Stephen VaughanSTEPHEN VAUGHAN

BOARD MEMBER

Total calculated

$535

From this org

$535

From related orgs

$0

Other

$0

Hours/week

4
Faye MillerFAYE MILLER

BOARD MEMBER

Total calculated

$500

From this org

$500

From related orgs

$0

Other

$0

Hours/week

4
Shawn DeiszSHAWN DEISZ

BOARD MEMBER

Total calculated

$500

From this org

$500

From related orgs

$0

Other

$0

Hours/week

4
Michael GunschMICHAEL GUNSCH

BOARD MEMBER

Total calculated

$500

From this org

$500

From related orgs

$0

Other

$0

Hours/week

4
Ken GeigerKEN GEIGER

BOARD MEMBER

Total calculated

$500

From this org

$500

From related orgs

$0

Other

$0

Hours/week

4

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 · Travel for companions
1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
3 · Approval by the board or compensation committee

Answered no

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
4c · Equity-based compensation arrangement

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

CCU FINANCIAL SERVICES LLC

CREDIT UNION SERVICE ORGANIZATION · ND · income $43,190 · assets $450,721

Directly controlled by CAPITAL CREDIT UNION

Provenance

Return type: form_990
Tax year: 2022
Filed: 2 November 2023
IRS schema version: 2022v5.0
Source object: 202303069349300305

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