Totals
- Total revenue
- $4,950,073
- Total expenses
- $2,305,539
- Contributions and grants received
- $134,875
- Grants paid
- $0
- Program service revenue
- $2,193,027
- Investment income
- $2,622,171
- Other revenue
- $0
- Total assets, end of year
- $106,665,130
- Total liabilities, end of year
- $87,316,133
- Net assets or fund balances, end of year
- $19,348,997
- 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)
$134,875
-
2a · Program service revenue: LOAN INTEREST
total $1,750,466 · related or exempt $1,750,466
-
2b · Program service revenue: SERVICE CHARGES
total $416,436 · related or exempt $413,070 · unrelated business $3,366
-
2c · Program service revenue: OTHER INCOME
total $26,125 · related or exempt $26,125
-
3 · Investment income
total $2,622,171 · excluded $2,622,171
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $136,263
-
7 · Other salaries and wages
total $445,304
-
8 · Pension plan contributions
total $63,098
-
9 · Other employee benefits
total $83,204
-
10 · Payroll taxes
total $45,867
-
11b · Fees: legal
total $8,042
-
11c · Fees: accounting
total $294,396
-
11g · Fees: other
total $186,015
-
12 · Advertising and promotion
total $34,600
-
13 · Office expenses
total $138,744
-
16 · Occupancy
total $81,506
-
19 · Conferences, conventions and meetings
total $2,055
-
21 · Payments to affiliates
total $20,896
-
22 · Depreciation, depletion and amortization
total $21,828
-
23 · Insurance
total $42,508
-
24a · Other expenses: ATM INTERCHANGE EXPENSE
total $264,777
-
24b · Other expenses: VISA CREDIT CARD EXPENS
total $156,527
-
24c · Other expenses: DIVIDENDS PAID TO MEMBE
total $96,377
-
24d · Other expenses: LOAN LOSS PROVISION
total $60,000
-
24e · All other expenses
total $123,532
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,471,585 · end of year $1,179,380
-
2 · Savings and temporary cash investments
beginning of year $66,600,424 · end of year $70,853,336
-
7 · Other notes and loans receivable
beginning of year $33,028,035 · end of year $32,733,144
-
9 · Prepaid expenses and deferred charges
beginning of year $226,888 · end of year $310,414
-
10a · Land, buildings and equipment: cost or other basis
$1,276,181
-
10b · Land, buildings and equipment: accumulated depreciation
$1,154,260
-
10c · Land, buildings and equipment, net
beginning of year $67,086 · end of year $121,921
-
15 · Other assets
beginning of year $1,658,518 · end of year $1,466,935
-
17 · Accounts payable and accrued expenses
beginning of year $314,321 · end of year $306,036
-
25 · Other liabilities
beginning of year $85,897,115 · end of year $87,010,097
-
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 $16,841,100 · end of year $19,348,997
Mission and programs · 2025
Mission
HIBBING COOPERATIVE CREDIT UNION IS A STATE-CHARTERED COOPERATIVE ASSOCIATION ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AMONG AND CREATING A SOURCE OF CREDIT FOR ITS MEMBERS.
-
HIBBING COOPERATIVE CREDIT UNION (THE CREDIT UNION) GENERATED 958 LOANS TO OUR MEMBERS IN 2025 THAT TOTALED $13,254,434. THE CREDIT UNION GENERATES LOANS TO BUY NEW AND USED VEHICLES, RECREATIONAL ITEMS, HOUSEHOLD ITEMS AND FOR ANY REASONABLE PURPOSE. THE CREDIT UNION ALSO GENERATES HOME EQUITY LOANS AND OFFERS VISA CREDIT CARDS.
-
HIBBING COOPERATIVE CREDIT UNION OFFERS VARIOUS TYPES OF SAVINGS PRODUCTS TO OUR MEMBERS. ON 12/31/25, OUR MEMBERS HAD ON DEPOSIT $65,859,425 IN 8,850 ACCOUNTS.
-
HIBBING COOPERATIVE CREDIT UNION OFFERS SHARE DRAFT ACCOUNTS TO OUR MEMBERS. ON 12/31/25, WE HAD $21,154,088 IN 3,965 ACCOUNTS.
-
HIBBING COOPERATIVE CREDIT UNION ALSO OFFERS HOME BANKING VIA THE INTERNET, VISA DEBIT CARDS, ATM, AND AUDIO RESPONSE (PHONE) FOR OUR MEMBERS' CONVENIENCE.
As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Patrick DilleyPATRICK DILLEY
SECRETARY
- Total calculated
- $880
- From this org
- $880
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0.3
-
John DixonJOHN DIXON
TREASURER
- Total calculated
- $800
- From this org
- $800
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0.3
-
Gary S KangasGARY S KANGAS
PRESIDENT
- Total calculated
- $880
- From this org
- $880
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0.3
-
Rex LentnerREX LENTNER
DIRECTOR
- Total calculated
- $1,320
- From this org
- $1,320
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0.3
-
David SimonsonDAVID SIMONSON
VICE PRESIDENT
- Total calculated
- $640
- From this org
- $640
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0.3
-
Waylon VittersWAYLON VITTERS
CEO
- Total calculated
- $131,743
- From this org
- $116,702
- From related orgs
- $0
- Other
- $15,041
- 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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2025
- Filed
- 23 March 2026
- IRS schema version
- 2025v4.0
- Source object
- 202610999349300036
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