Skip to content
Nonprofiteer
← SUPERIOR CHOICE CREDIT UNION

Form 990 for tax year 2022

Filed by SUPERIOR CHOICE CREDIT UNION.

Totals

Total revenue
$30,905,234
Total expenses
$28,681,357
Contributions and grants received
$0
Grants paid
$7,379
Program service revenue
$29,255,012
Investment income
$1,559,344
Other revenue
$90,878
Total assets, end of year
$708,340,396
Total liabilities, end of year
$646,689,586
Net assets or fund balances, end of year
$61,650,810
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 $24,082,407 · related or exempt $24,082,407

  • 2b · Program service revenue: FEE INCOME

    total $2,903,123 · related or exempt $2,903,123

  • 2c · Program service revenue: INTERCHANGE FEES

    total $1,528,251 · related or exempt $1,528,251

  • 2d · Program service revenue: OTHER OPERATING REVENUE

    total $536,388 · related or exempt $536,388

  • 2e · Program service revenue: INSURANCE SALES & COMMISSIONS

    total $156,646 · related or exempt $156,646

  • 2f · All other program service revenue

    total $48,197 · unrelated business $48,197

  • 3 · Investment income

    total $1,559,344 · excluded $1,559,344

  • 6a · Gross rents

    real property $70,154

  • 6c · Rental income or loss

    real property $70,154

  • 6d · Net rental income or loss

    total $70,154 · related or exempt $70,154

  • 11a · Other revenue: NON OPERATING INCOME

    total $20,724 · excluded $20,724

  • 11e · Other revenue, total

    $20,724

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,379

  • 5 · Compensation of officers, directors and key employees

    total $1,368,853

  • 7 · Other salaries and wages

    total $7,275,226

  • 8 · Pension plan contributions

    total $499,054

  • 9 · Other employee benefits

    total $902,070

  • 10 · Payroll taxes

    total $576,981

  • 11b · Fees: legal

    total $43,275

  • 11c · Fees: accounting

    total $240,091

  • 11g · Fees: other

    total $644,608

  • 12 · Advertising and promotion

    total $656,765

  • 13 · Office expenses

    total $2,954,700

  • 14 · Information technology

    total $391,123

  • 16 · Occupancy

    total $1,264,256

  • 17 · Travel

    total $348,328

  • 19 · Conferences, conventions and meetings

    total $1,854

  • 20 · Interest

    total $1,393,880

  • 22 · Depreciation, depletion and amortization

    total $1,171,590

  • 23 · Insurance

    total $390,490

  • 24a · Other expenses: DIVIDENDS PAID TO MEMBERS

    total $3,431,265

  • 24b · Other expenses: PROVISION FOR BAD DEBT

    total $2,225,675

  • 24c · Other expenses: LOAN ORIGINATION/SERVICIN

    total $1,395,398

  • 24d · Other expenses: ATM EXPENSES

    total $702,817

  • 24e · All other expenses

    total $795,679

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,191,147 · end of year $8,803,690

  • 2 · Savings and temporary cash investments

    beginning of year $106,052,636 · end of year $95,821,203

  • 4 · Accounts receivable

    beginning of year $520,483 · end of year $623,304

  • 7 · Other notes and loans receivable

    beginning of year $432,054,491 · end of year $540,480,830

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,287,784 · end of year $6,223,390

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

    $29,923,420

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

    $12,480,406

  • 10c · Land, buildings and equipment, net

    beginning of year $10,172,026 · end of year $17,443,014

  • 11 · Investments: publicly traded securities

    beginning of year $1,271,000 · end of year $1,970,000

  • 12 · Investments: other securities

    beginning of year $24,107,599 · end of year $15,571,703

  • 13 · Investments: program-related

    beginning of year $4,414,016 · end of year $4,808,294

  • 14 · Intangible assets

    beginning of year $5,366,885 · end of year $5,947,724

  • 15 · Other assets

    beginning of year $10,705,107 · end of year $10,647,244

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,779,243 · end of year $7,368,995

  • 23 · Secured mortgages and notes payable

    beginning of year $36,000,000 · end of year $66,000,000

  • 25 · Other liabilities

    beginning of year $496,771,899 · end of year $573,320,591

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $42,080,000

  • 31 · Retained earnings, endowment or other funds

    beginning of year $20,512,032 · end of year $61,650,810

Mission and programs · 2022

Mission

A NOT-FOR-PROFIT MEMBER-OWNED FINANCIAL INSTITUTION ORGANIZED TO PROVIDE FINANCIAL SERVICES TO OUR MEMBERS. OPERATIONS ARE PRIMARILY RELATED TO HOLDING DEPOSITS FOR AND MAKING LOANS TO MEMBERS.

Activities or mission (Part I)

A NOT-FOR-PROFIT MEMBER-OWNED FINANCIAL INSTITUTION ORGANIZED TO PROVIDE FINANCIAL SERVICES TO OUR MEMBERS.

  • FINANCIAL SERVICE PROVIDER TO INCLUDE LOANS, DEPOSITS, AND TRANSACTIONAL SERVICES TO ALL MEMBERS.

As filed on the 2022 return.

Listed in Part VII

  • Tim Foster

    PRESIDENT &

    Total calculated
    $476,308
    From this org
    $422,318
    From related orgs
    $0
    Other
    $53,990
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $344,818
    Bonus
    $77,500
    Other
    not reported
    Deferred
    $13,793
    Nontaxable benefits
    $40,197
    Filer's total
    $476,308

  • Shane Asbel

    COO/EVP

    Total calculated
    $321,851
    From this org
    $281,221
    From related orgs
    $0
    Other
    $40,630
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $247,851
    Bonus
    $33,370
    Other
    not reported
    Deferred
    $9,914
    Nontaxable benefits
    $30,716
    Filer's total
    $321,851

  • Ben Altonen

    CFO/EVP

    Total calculated
    $317,687
    From this org
    $267,568
    From related orgs
    $0
    Other
    $50,119
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $234,438
    Bonus
    $33,130
    Other
    not reported
    Deferred
    $14,066
    Nontaxable benefits
    $36,053
    Filer's total
    $317,687

  • Kelli Koehler

    CMO/SVP

    Total calculated
    $262,758
    From this org
    $243,147
    From related orgs
    $0
    Other
    $19,611
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $217,334
    Bonus
    $25,813
    Other
    not reported
    Deferred
    $8,693
    Nontaxable benefits
    $10,918
    Filer's total
    $262,758

  • Myron Baker

    VP IT

    Total calculated
    $170,571
    From this org
    $154,479
    From related orgs
    $0
    Other
    $16,092
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,104
    Bonus
    $9,375
    Other
    not reported
    Deferred
    $7,255
    Nontaxable benefits
    $8,837
    Filer's total
    $170,571

  • Julie Lupa

    VP MORTGAGE

    Total calculated
    $167,885
    From this org
    $136,939
    From related orgs
    $0
    Other
    $30,946
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,809
    Bonus
    $12,130
    Other
    not reported
    Deferred
    $4,992
    Nontaxable benefits
    $25,954
    Filer's total
    $167,885

  • Kevin Kubat

    VP CONSUMER

    Total calculated
    $125,430
    From this org
    $125,430
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Tammy Makela

    VP ACCOUNTIN

    Total calculated
    $122,588
    From this org
    $122,588
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Scott Maki

    CPO/EVP

    Total calculated
    $118,155
    From this org
    $108,899
    From related orgs
    $0
    Other
    $9,256
    Hours/week
    40

  • Danielle Severson

    VP FRAUD/COL

    Total calculated
    $113,910
    From this org
    $103,650
    From related orgs
    $0
    Other
    $10,260
    Hours/week
    40

  • Bill Anderson

    BOARD VICE C

    Total calculated
    $7,300
    From this org
    $7,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Mark Casper

    BOARD CHAIR

    Total calculated
    $6,700
    From this org
    $6,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Paul Gilbertson

    TREASURER

    Total calculated
    $6,700
    From this org
    $6,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Pamela Tafelski

    VICE CHAIR L

    Total calculated
    $6,700
    From this org
    $6,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Charlie Glazman

    VICE CHAIR P

    Total calculated
    $6,100
    From this org
    $6,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jim Larson

    VICE CHAIR-A

    Total calculated
    $6,100
    From this org
    $6,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Greg Running

    ALCO

    Total calculated
    $6,100
    From this org
    $6,100
    From related orgs
    $0
    Other
    $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. 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 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 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

The filer's explanations (Part III)

SCHEDULE J, PAGE 1, PART I, LINE 1A
TRAVEL FOR COMPANIONS WAS AVAILABLE FOR EDUCATIONAL EVENTS, LEAGUE CONVENTIONS, CHAPTER EVENTS, AND STRATEGIC PLANNING OFF SITE RETREATS.

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

Provenance

Return type
form_990
Tax year
2022
Filed
13 September 2023
IRS schema version
2022v5.0
Source object
202322619349300322

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.