Totals
- Total revenue
- $2,947,398
- Total expenses
- $1,662,042
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $1,761,163
- Investment income
- $816,648
- Other revenue
- $369,587
- Total assets, end of year
- $67,400,425
- Total liabilities, end of year
- $62,138
- Net assets or fund balances, end of year
- $67,338,287
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- not reported
Program services were 0.0% 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.
-
2a · Program service revenue: INTEREST ON LOANS
total $1,345,359 · related or exempt $1,345,359
-
2b · Program service revenue: FEES AND CHARGES
total $83,704 · related or exempt $77,180 · unrelated business $6,524
-
2c · Program service revenue: VISA INCOME
total $300,035 · related or exempt $300,035
-
2d · Program service revenue: CLS AND CREDIT CARD INT
total $32,065 · related or exempt $32,065
-
3 · Investment income
total $816,648 · related or exempt $816,648
-
8c · Net income from fundraising events
total $0
-
11a · Other revenue: MISC OPERATING INCOME
total $42,817 · related or exempt $42,817
-
11b · Other revenue: CORPORATE CU INCOME
total $325,605 · related or exempt $325,605
-
11c · Other revenue: ATM INTERCHANGE
total $1,165 · related or exempt $1,165
-
11e · Other revenue, total
$369,587
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $416,154
-
9 · Other employee benefits
total $168,029
-
10 · Payroll taxes
total $33,347
-
11c · Fees: accounting
total $14,004
-
11g · Fees: other
total $23,302
-
12 · Advertising and promotion
total $18,431
-
13 · Office expenses
total $132,617
-
14 · Information technology
total $31,354
-
16 · Occupancy
total $41,828
-
19 · Conferences, conventions and meetings
total $6,423
-
22 · Depreciation, depletion and amortization
total $57,568
-
23 · Insurance
total $37,723
-
24a · Other expenses: DEBIT CARD EXPENSE
total $234,113
-
24b · Other expenses: DIVIDEND EXPENSE
total $201,602
-
24c · Other expenses: DATA PROCESSING
total $61,394
-
24d · Other expenses: PROVISION FOR LOAN LOSS
total $50,000
-
24e · All other expenses
total $134,153
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $331,803 · end of year $282,950
-
2 · Savings and temporary cash investments
beginning of year $6,588,019 · end of year $8,589,055
-
7 · Other notes and loans receivable
beginning of year $23,669,066 · end of year $24,443,201
-
9 · Prepaid expenses and deferred charges
beginning of year $65,773 · end of year $52,869
-
10a · Land, buildings and equipment: cost or other basis
$576,412
-
10b · Land, buildings and equipment: accumulated depreciation
$304,207
-
10c · Land, buildings and equipment, net
beginning of year $313,437 · end of year $272,205
-
11 · Investments: publicly traded securities
beginning of year $25,984,000 · end of year $22,826,000
-
12 · Investments: other securities
beginning of year $7,321,000 · end of year $10,168,000
-
13 · Investments: program-related
beginning of year $576,277 · end of year $565,510
-
15 · Other assets
beginning of year $141,641 · end of year $200,635
-
17 · Accounts payable and accrued expenses
beginning of year $41,570 · end of year $62,138
-
31 · Retained earnings, endowment or other funds
beginning of year $64,949,446 · end of year $67,338,287
Mission and programs · 2024
Mission
AS A MEMBER-OWNED FINANCIAL COOPERATIVE, WE WILL DEVELOP AND OFFER COMPETITIVE PRODUCT LINES THAT MEET MEMBERS' NEEDS WHILE MAINTAINING ASSET STRENGTH AND BE A FULL-SERVICE ORGANIZATION THAT SATISFIES THE NEEDS OF THE MEMBERSHIP.
Activities or mission (Part I)
AS A MEMBEROWNED FINANCIAL COOPERATIVE WE WILL DEVELOP AND OFFER COMPETITIVE PRODUCT LINES THAT MEET MEMBERS NEEDS WHILE MAINTAINING ASSET STRENGTH AND BE A FULLSERVICE ORGANIZATION THAT SATISFIES THE NEEDS OF THE MEMBERSHIP
-
DIVIDENDS PAID TO THE MEMBERS QUARTERLY ON THEIR SAVINGS ACCOUNTS.
-
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO OUR MEMBERS.
-
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST.
As filed on the 2024 return.
Listed in Part VII
-
Mark KrekelbergMARK KREKELBERG
TREASURERMANAGER
- Total calculated
- $120,080
- From this org
- $120,080
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Todd AhoTODD AHO
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Stephen PetersonSTEPHEN PETERSON
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Deb AndersonDEB ANDERSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Tina FosterTINA FOSTER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Tony GornikTONY GORNIK
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Barbara MathewsBARBARA MATHEWS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Kerry DavisKERRY DAVIS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
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
- 2024
- Filed
- 2 May 2025
- IRS schema version
- 2024v5.1
- Source object
- 202541229349302519
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