Totals
- Total revenue
- $21,554,138
- Total expenses
- $19,548,098
- Contributions and grants received
- $0
- Grants paid
- $32,569
- Program service revenue
- $19,368,940
- Investment income
- $1,932,766
- Other revenue
- $252,432
- Total assets, end of year
- $383,798,063
- Total liabilities, end of year
- $353,658,077
- Net assets or fund balances, end of year
- $30,139,986
- 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.
-
2a · Program service revenue: INTEREST ON LOANS
total $14,742,242 · related or exempt $14,742,242
-
2b · Program service revenue: FEES AND CHARGES
total $4,466,334 · related or exempt $4,427,350 · unrelated business $38,984
-
2c · Program service revenue: SALE OF LOANS HELD-FOR-SALE
total $160,364 · related or exempt $160,364
-
3 · Investment income
total $1,912,311 · excluded $1,912,311
-
7a · Gross sales of assets other than inventory
other assets $20,455
-
7b · Less cost or other basis and sales expenses
other assets $0
-
7c · Gain or loss
other assets $20,455
-
7d · Net gain or loss
total $20,455 · excluded $20,455
-
11a · Other revenue: INTEREST ON SERP
total $180,632 · related or exempt $180,632
-
11d · All other revenue
total $71,800 · related or exempt $71,800
-
11e · Other revenue, total
$252,432
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $32,569
-
5 · Compensation of officers, directors and key employees
total $567,230
-
7 · Other salaries and wages
total $5,497,682
-
8 · Pension plan contributions
total $522,861
-
9 · Other employee benefits
total $499,575
-
10 · Payroll taxes
total $457,532
-
11b · Fees: legal
total $20,587
-
11c · Fees: accounting
total $127,067
-
11f · Fees: investment management
total $13,875
-
11g · Fees: other
total $617,209
-
12 · Advertising and promotion
total $521,058
-
13 · Office expenses
total $779,459
-
14 · Information technology
total $482,426
-
16 · Occupancy
total $679,792
-
17 · Travel
total $102,605
-
19 · Conferences, conventions and meetings
total $56,521
-
20 · Interest
total $129,661
-
22 · Depreciation, depletion and amortization
total $649,959
-
23 · Insurance
total $97,123
-
24a · Other expenses: DIVIDENDS PAID TO MEMBE
total $5,167,123
-
24b · Other expenses: CREDIT CARD & TRANSACTI
total $1,266,027
-
24c · Other expenses: LOAN SERVICING FEES
total $620,851
-
24d · Other expenses: PROVISION FOR LOAN LOSS
total $547,000
-
24e · All other expenses
total $92,306
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $4,468,283 · end of year $3,815,496
-
2 · Savings and temporary cash investments
beginning of year $2,811,441 · end of year $15,629,163
-
4 · Accounts receivable
beginning of year $928,278 · end of year $1,227,454
-
5 · Loans and receivables from officers and key people
beginning of year $164,223 · end of year $172,523
-
7 · Other notes and loans receivable
beginning of year $284,584,526 · end of year $285,870,658
-
9 · Prepaid expenses and deferred charges
beginning of year $775,847 · end of year $976,227
-
10a · Land, buildings and equipment: cost or other basis
$25,111,602
-
10b · Land, buildings and equipment: accumulated depreciation
$9,140,331
-
10c · Land, buildings and equipment, net
beginning of year $15,803,626 · end of year $15,971,271
-
11 · Investments: publicly traded securities
beginning of year $30,729,503 · end of year $33,317,146
-
12 · Investments: other securities
beginning of year $20,021,331 · end of year $21,824,619
-
15 · Other assets
beginning of year $4,486,488 · end of year $4,993,506
-
17 · Accounts payable and accrued expenses
beginning of year $4,228,402 · end of year $3,838,075
-
23 · Secured mortgages and notes payable
beginning of year $13,750,000 · end of year $7,000,000
-
25 · Other liabilities
beginning of year $318,070,097 · end of year $342,820,002
-
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 $28,725,047 · end of year $30,139,986
Mission and programs · 2023
Mission
PARTNERING WITH OUR MEMBERS TO IMPROVE THE QUALITY OF THEIR LIVES BY PROVIDING A SECURE AND SERVICE-FOCUSED CREDIT UNION THAT BUILDS TRUST AND RESPECT.
-
AS A MEMBER OWNED, FINANCIAL COOPERATIVE, THE CREDIT UNION SERVED NEARLY 25,000 PRIMARILY MONTANA RESIDENTS WITH A WIDE VARIETY OF FINANCIAL SERVICES. ADDITIONAL SERVICES PROVIDED INCLUDED COUNSELING, FINANCIAL EDUCATION, NEWSLETTERS, DEPOSIT AND LOAN INSURANCE PROTECTION, AND CONSUMER INFORMATION. THE CREDIT UNION PROVIDED SETTLEMENT, CORRESPONDENCE, INVESTMENT, LOAN EDUCATION, AND OTHER SERVICES TO ITS MEMBERS.
As filed on the 2023 return.
Listed in Part VII
-
Steve SendonSTEVE SENDON
PRESIDENT/CEO
- Total calculated
- $363,444
- From this org
- $312,044
- From related orgs
- $0
- Other
- $51,400
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $254,500
- Bonus
- $35,216
- Other
- $22,328
- Deferred
- $33,529
- Nontaxable benefits
- $17,871
- Filer's total
- $363,444
-
Cyrus MalkinCYRUS MALKIN
CFO
- Total calculated
- $203,786
- From this org
- $171,071
- From related orgs
- $0
- Other
- $32,715
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $141,876
- Bonus
- $16,454
- Other
- $12,741
- Deferred
- $20,491
- Nontaxable benefits
- $12,224
- Filer's total
- $203,786
-
Dean OlsenDEAN OLSEN
VP - IT
- Total calculated
- $173,876
- From this org
- $147,057
- From related orgs
- $0
- Other
- $26,819
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $121,164
- Bonus
- $14,761
- Other
- $11,132
- Deferred
- $17,332
- Nontaxable benefits
- $9,487
- Filer's total
- $173,876
-
Erin JohnstonERIN JOHNSTON
VP - PROJECT CHANGE
- Total calculated
- $165,564
- From this org
- $136,538
- From related orgs
- $0
- Other
- $29,026
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $111,288
- Bonus
- $14,072
- Other
- $11,178
- Deferred
- $16,836
- Nontaxable benefits
- $12,190
- Filer's total
- $165,564
-
Brandi Lee-MergenthalerBRANDI LEE-MERGENTHALER
VP - OPERATIONS
- Total calculated
- $162,133
- From this org
- $134,996
- From related orgs
- $0
- Other
- $27,137
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $92,166
- Bonus
- $17,367
- Other
- $25,463
- Deferred
- $17,090
- Nontaxable benefits
- $10,047
- Filer's total
- $162,133
-
Lesley HuberLESLEY HUBER
VP - LENDING
- Total calculated
- $160,691
- From this org
- $136,612
- From related orgs
- $0
- Other
- $24,079
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $117,107
- Bonus
- $13,101
- Other
- $6,404
- Deferred
- $16,238
- Nontaxable benefits
- $7,841
- Filer's total
- $160,691
-
Holly LaneHOLLY LANE
VP - HR
- Total calculated
- $159,593
- From this org
- $138,013
- From related orgs
- $0
- Other
- $21,580
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $112,978
- Bonus
- $14,030
- Other
- $11,005
- Deferred
- $16,264
- Nontaxable benefits
- $5,316
- Filer's total
- $159,593
-
Kristin BouchardKRISTIN BOUCHARD
CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Chris LemonCHRIS LEMON
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Michael BertagnolliMICHAEL BERTAGNOLLI
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Stefanie GriffithSTEFANIE GRIFFITH
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Josh KnoedlerJOSH KNOEDLER
DIRECTOR (THRU APRIL)
- Total calculated
- $0
- Hours/week
- 2
-
Tony LoyaTONY LOYA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Lyle ManleyLYLE MANLEY
DIRECTOR (THRU APRIL)
- Total calculated
- $0
- Hours/week
- 2
-
Scott StonerSCOTT STONER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Michael WilliamsMICHAEL WILLIAMS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
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
- 3 · Compensation committee
- 3 · Independent compensation consultant
- 3 · Written employment contract
- 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 4B
- ERIN JOHNSTON PARTICIPATES IN A SPLIT-DOLLAR LIFE INSURANCE AGREEMENT WITH THE ORGANIZATION. ERIN DID NOT RECEIVE ANY DISTRIBUTIONS FROM THIS PLAN DURING 2023. SEE SCHEDULE L FOR MORE DETAIL.
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
- 2023
- Filed
- 17 April 2024
- IRS schema version
- 2023v5.0
- Source object
- 202441109349300639
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