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Nonprofiteer
← SHAREPOINT CREDIT UNION

Form 990 for tax year 2025

Filed by SHAREPOINT CREDIT UNION.

Totals

Total revenue
$20,304,843
Total expenses
$18,391,574
Contributions and grants received
$0
Grants paid
$1,886
Program service revenue
$17,762,538
Investment income
$2,494,310
Other revenue
$47,995
Total assets, end of year
$362,455,497
Total liabilities, end of year
$323,933,488
Net assets or fund balances, end of year
$38,522,009
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 $15,061,967 · related or exempt $15,061,967

  • 2b · Program service revenue: FEE INCOME

    total $2,700,571 · related or exempt $2,692,185 · unrelated business $8,386

  • 3 · Investment income

    total $2,502,537 · excluded $2,502,537

  • 6a · Gross rents

    real property $47,995

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $47,995

  • 6d · Net rental income or loss

    total $47,995 · excluded $47,995

  • 7a · Gross sales of assets other than inventory

    other assets $905

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

    other assets $9,132

  • 7c · Gain or loss

    other assets -$8,227

  • 7d · Net gain or loss

    total -$8,227 · excluded -$8,227

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,886

  • 4 · Benefits paid to or for members

    total $4,715,457

  • 5 · Compensation of officers, directors and key employees

    total $640,828

  • 7 · Other salaries and wages

    total $4,217,230

  • 8 · Pension plan contributions

    total $146,495

  • 9 · Other employee benefits

    total $951,077

  • 10 · Payroll taxes

    total $367,793

  • 11b · Fees: legal

    total $17,413

  • 11c · Fees: accounting

    total $78,758

  • 11g · Fees: other

    total $539,746

  • 12 · Advertising and promotion

    total $416,753

  • 13 · Office expenses

    total $750,423

  • 14 · Information technology

    total $454,290

  • 16 · Occupancy

    total $413,302

  • 17 · Travel

    total $106,413

  • 19 · Conferences, conventions and meetings

    total $11,681

  • 20 · Interest

    total $16,711

  • 22 · Depreciation, depletion and amortization

    total $358,686

  • 23 · Insurance

    total $16,653

  • 24a · Other expenses: LOAN SERVICING EXPENSE

    total $1,151,538

  • 24b · Other expenses: DEBIT & CREDIT CARD EXP

    total $716,034

  • 24c · Other expenses: ATM EXPENSE

    total $680,085

  • 24d · Other expenses: BAD DEBT EXPENSE

    total $149,664

  • 24e · All other expenses

    total $1,472,658

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,418,596 · end of year $1,556,792

  • 2 · Savings and temporary cash investments

    beginning of year $19,862,158 · end of year $17,998,755

  • 4 · Accounts receivable

    beginning of year $727,243 · end of year $874,213

  • 5 · Loans and receivables from officers and key people

    beginning of year $2,650,328 · end of year $3,260,375

  • 7 · Other notes and loans receivable

    beginning of year $235,198,274 · end of year $234,157,864

  • 9 · Prepaid expenses and deferred charges

    beginning of year $736,365 · end of year $747,264

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

    $10,980,940

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

    $4,846,155

  • 10c · Land, buildings and equipment, net

    beginning of year $6,389,846 · end of year $6,134,785

  • 11 · Investments: publicly traded securities

    beginning of year $71,341,675 · end of year $50,672,723

  • 12 · Investments: other securities

    beginning of year $16,275,139 · end of year $26,347,051

  • 14 · Intangible assets

    beginning of year $6,487,829 · end of year $5,449,489

  • 15 · Other assets

    beginning of year $17,980,325 · end of year $15,256,186

  • 17 · Accounts payable and accrued expenses

    beginning of year $898,252 · end of year $1,124,068

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $535,176

  • 25 · Other liabilities

    beginning of year $344,325,988 · end of year $322,274,244

  • 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 $33,843,538 · end of year $38,522,009

Mission and programs · 2025

Mission

THE CREDIT UNION'S MISSION IS TO OFFER COMPETITIVE LOAN AND DEPOSIT PRODUCTS TO OUR MEMBERSHIP TO CREATE LIFELONG FINANCIAL RELATIONSHIPS.

  • DIVIDENDS AND INTEREST PAID TO MEMBERS ON APPROXIMATELY 33,000 DEPOSIT ACCOUNTS HELD BY APPROXIMATELY 21,000 MEMBERS.

  • PROVIDING SAVINGS DEPOSIT SERVICES, ORIGINATING NEW LOANS, AND SERVICING THE LOAN PORTFOLIO FOR MEMBERS.

  • RECORDING MEMBER ACCOUNT ACTIVITY AND PROVIDING ACCESS TO MEMBERS TO THEIR ACCOUNTS VIA ONLINE/MOBILE BANKING, ATM NETWORKS, AND IN PERSON AT THE CREDIT UNION OFFICES.

As filed on the 2025 return.

Listed in Part VII

  • Joseph Budnick

    CHAIR

    Total calculated
    $4,575
    From this org
    $4,575
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Scott Weicht

    SECRETARY

    Total calculated
    $1,550
    From this org
    $1,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Gary Hawley

    DIRECTOR

    Total calculated
    $3,225
    From this org
    $3,225
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Alan Pederson

    DIRECTOR

    Total calculated
    $2,825
    From this org
    $2,825
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Joseph Schmidt

    DIRECTOR

    Total calculated
    $3,830
    From this org
    $3,830
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Sarah Nelson

    VICE CHAIR

    Total calculated
    $2,530
    From this org
    $2,530
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Lindsey Olsen

    DIRECTOR

    Total calculated
    $2,225
    From this org
    $2,225
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Lisa Tollakson

    DIRECTOR

    Total calculated
    $2,700
    From this org
    $2,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Mary St Mary

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Phillip Kopischke

    PRESIDENT/CEO

    Total calculated
    $463,665
    From this org
    $444,116
    From related orgs
    $0
    Other
    $19,549
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $346,814
    Bonus
    $80,300
    Other
    $17,002
    Deferred
    $10,355
    Nontaxable benefits
    $9,194
    Filer's total
    $463,665

  • Paul Vork

    EVP OF ACCOUNTING & FINANCE

    Total calculated
    $153,703
    From this org
    $146,405
    From related orgs
    $0
    Other
    $7,298
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,975
    Bonus
    $8,300
    Other
    $1,130
    Deferred
    $5,298
    Nontaxable benefits
    $2,000
    Filer's total
    $153,703

  • Kerri Hiniker

    EVP OF CREDIT & RISK

    Total calculated
    $193,845
    From this org
    $161,375
    From related orgs
    $0
    Other
    $32,470
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,313
    Bonus
    $6,400
    Other
    $1,662
    Deferred
    $6,726
    Nontaxable benefits
    $25,744
    Filer's total
    $193,845

  • Megan Hammack

    SVP OF OPERATIONS

    Total calculated
    $141,230
    From this org
    $135,833
    From related orgs
    $0
    Other
    $5,397
    Hours/week
    40

  • Tammy Johnson-Kohl

    SVP MEMBER SERVICES

    Total calculated
    $138,312
    From this org
    $113,977
    From related orgs
    $0
    Other
    $24,335
    Hours/week
    40

  • Kerri Cowden

    SVP OF CONSUMER CREDIT

    Total calculated
    $129,703
    From this org
    $107,552
    From related orgs
    $0
    Other
    $22,151
    Hours/week
    40

  • Jeff Thill

    SVP OF IT

    Total calculated
    $124,610
    From this org
    $113,268
    From related orgs
    $0
    Other
    $11,342
    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
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 1b · Written policy on the line-1a expenses
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
SOCIAL CLUB DUES - PHILLIP KOPISCHKE, PRESIDENT/CEO, NOT INCLUDED IN TAXABLE COMPENSATION THE PRIMARY PURPOSE OF THE EDINA COUNTRY CLUB (ECC) MEMBERSHIP IS TO CONDUCT BUSINESS RELATED MEETINGS WITH EMPLOYEES, BOARD MEMBERS, ETC. ANY TRANSACTIONS AT ECC FOR PERSONAL USE ARE DEDUCTED FROM PHILLIP'S PERSONAL CHECKING ACCOUNT AT THE CREDIT UNION.
PART I, LINE 1B
WE DO NOT HAVE A WRITTEN POLICY REGARDING THE ECC MEMBERSHIP. BOTH THE PRESIDENT/CEO AND THE ORGANIZATION'S ACCOUNTS PAYABLE TEAM RECEIVE COPIES OF THE MONTHLY STATEMENTS. THE PRESIDENT/CEO PROVIDES A BREAKDOWN OF THE ATTENDEES AND PURPOSE OF EACH EXPENSE, AS WELL AS ANY NECESSARY SUPPORTING INFORMATION. THE STATEMENTS ARE REVIEWED AND APPROVED BY THE EVP OF ACCOUNTING & FINANCE BEFORE PAYMENT IS REMITTED DIRECTLY TO ECC.
PART I, LINES 4A-B
SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN: PHILLIP KOPISCHKE PARTICIPATES IN A SPLIT-DOLLAR LIFE INSURANCE PLAN. SEE SCHEDULE L, PART II 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
2025
Filed
10 September 2026
IRS schema version
2025v4.2
Source object
202602579349301810

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