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Nonprofiteer
← BLAZE CREDIT UNION

Form 990 for tax year 2024

Filed by BLAZE CREDIT UNION.

Totals

Total revenue
$267,991,867
Total expenses
$240,639,425
Contributions and grants received
$0
Grants paid
$621,457
Program service revenue
$207,304,772
Investment income
$60,689,815
Other revenue
-$2,720
Total assets, end of year
$4,260,893,844
Total liabilities, end of year
$3,962,936,215
Net assets or fund balances, end of year
$297,957,629
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: LOAN INTEREST INCOME

    total $157,606,899 · related or exempt $156,998,689 · unrelated business $608,210

  • 2b · Program service revenue: OTHER OPERATING INCOME

    total $32,577,842 · related or exempt $32,310,822 · unrelated business $267,020

  • 2c · Program service revenue: FEE INCOME

    total $17,120,031 · related or exempt $17,115,877 · unrelated business $4,154

  • 3 · Investment income

    total $59,116,022 · excluded $59,116,022

  • 7a · Gross sales of assets other than inventory

    securities $1,785,748 · other assets $35,069

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

    securities $243,319 · other assets $3,705

  • 7c · Gain or loss

    securities $1,542,429 · other assets $31,364

  • 7d · Net gain or loss

    total $1,573,793 · excluded $1,573,793

  • 11a · Other revenue: OTHER NON-INTEREST INCOME

    total -$2,720 · excluded -$2,720

  • 11e · Other revenue, total

    -$2,720

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $621,457

  • 4 · Benefits paid to or for members

    total $61,974,832

  • 5 · Compensation of officers, directors and key employees

    total $8,019,743

  • 7 · Other salaries and wages

    total $45,579,336

  • 8 · Pension plan contributions

    total $5,249,406

  • 9 · Other employee benefits

    total $8,644,909

  • 10 · Payroll taxes

    total $4,122,449

  • 11b · Fees: legal

    total $489,578

  • 11c · Fees: accounting

    total $314,783

  • 11g · Fees: other

    total $11,587,068

  • 13 · Office expenses

    total $24,276,287

  • 16 · Occupancy

    total $5,719,773

  • 17 · Travel

    total $1,412,765

  • 20 · Interest

    total $21,568,971

  • 22 · Depreciation, depletion and amortization

    total $5,959,731

  • 23 · Insurance

    total $17,207

  • 24a · Other expenses: CREDIT LOSS EXPENSE

    total $19,128,654

  • 24b · Other expenses: EDUCATIONAL & PROMOTION

    total $8,112,323

  • 24c · Other expenses: LOAN SERVICING EXPENSES

    total $5,497,787

  • 24d · Other expenses: MISC. OPERATING EXPENSE

    total $2,342,366

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $20,809,966 · end of year $31,513,468

  • 2 · Savings and temporary cash investments

    beginning of year $147,127,664 · end of year $660,892,252

  • 4 · Accounts receivable

    beginning of year $1,315,133 · end of year $1,462,588

  • 5 · Loans and receivables from officers and key people

    beginning of year $9,255,065 · end of year $30,976,686

  • 7 · Other notes and loans receivable

    beginning of year $1,485,667,627 · end of year $2,475,828,972

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,144,848 · end of year $6,042,170

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

    $135,105,137

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

    $30,220,062

  • 10c · Land, buildings and equipment, net

    beginning of year $76,098,452 · end of year $104,885,075

  • 11 · Investments: publicly traded securities

    beginning of year $154,802,752 · end of year $519,993,283

  • 12 · Investments: other securities

    beginning of year $213,035,871 · end of year $206,711,772

  • 15 · Other assets

    beginning of year $56,031,247 · end of year $222,587,578

  • 17 · Accounts payable and accrued expenses

    beginning of year $24,536,822 · end of year $31,882,722

  • 25 · Other liabilities

    beginning of year $1,984,475,332 · end of year $3,931,053,493

  • 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 $158,276,471 · end of year $297,957,629

Mission and programs · 2024

Mission

BLAZE CREDIT UNION'S PURPOSE IS TO CREATE BETTER LIVES FOR OUR MEMBERS. OUR CORE VALUE IS TO BE THOUGHTFULLY COMPASSIONATE FOR OUR MEMBERS. OUR CORE VISION IS TO BE MINNESOTA'S BEST FOR OUR MEMBERS. OUR CORE ACTION IS TO GIVE BACK TO OUR MEMBERS, MINNESOTA-BASED ORGANIZATIONS, AND THE COMMUNITIES WE SERVE.

Activities or mission (Part I)

CREATE BETTER LIVES FOR OUR MEMBERS.

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

  • DIVIDENDS PAID TO MEMBERS ON 516,354 DEPOSIT ACCOUNTS.

  • RECORDING MEMBER ACCOUNT ACTIVITY AND PROVIDING MEMBERS ACCESS TO THEIR ACCOUNTS VIA HOME BANKING, ATM NETWORKS, AND IN PERSON AT THE CU OFFICE.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dan Stoltz

    CEO

    Total calculated
    $1,653,495
    From this org
    $1,591,777
    From related orgs
    $0
    Other
    $61,718
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $892,223
    Bonus
    $239,172
    Other
    $460,382
    Deferred
    $35,200
    Nontaxable benefits
    $26,518
    Filer's total
    $1,653,495

  • Tom Heinzen

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Lynn Kothe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bob Oehrlein

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Lee Brucker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Carl Anderson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Paul Miller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jim Taglia

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jim Nimlos

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeff Schwalen

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Lori Hodapp

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Pam Tschida

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Kim Collins

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Dillingham

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Leonard Leitner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Patrick McGuiness

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sue Mulvihill

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sophia Xiong-Yang

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Cliff Wantz

    SR VP OF LENDING AND PRODU

    Total calculated
    $855,647
    From this org
    $777,001
    From related orgs
    $0
    Other
    $78,646
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $316,706
    Bonus
    $54,780
    Other
    $405,515
    Deferred
    $43,700
    Nontaxable benefits
    $34,946
    Filer's total
    $855,647

  • James Ganger

    SR VP RELATIONSHIP & SERVI

    Total calculated
    $881,708
    From this org
    $824,789
    From related orgs
    $0
    Other
    $56,919
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $322,176
    Bonus
    $61,480
    Other
    $441,133
    Deferred
    $43,700
    Nontaxable benefits
    $13,219
    Filer's total
    $881,708

  • Justin Burleson

    SVP/CHIEF OPS & FINANCIAL OFFICER

    Total calculated
    $486,399
    From this org
    $407,753
    From related orgs
    $0
    Other
    $78,646
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $291,898
    Bonus
    $61,480
    Other
    $54,375
    Deferred
    $43,700
    Nontaxable benefits
    $34,946
    Filer's total
    $486,399

  • Casey Carlson

    SVP CHIEF MARKETING OFFICER

    Total calculated
    $809,604
    From this org
    $753,984
    From related orgs
    $0
    Other
    $55,620
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $281,456
    Bonus
    $43,552
    Other
    $428,976
    Deferred
    $43,700
    Nontaxable benefits
    $11,920
    Filer's total
    $809,604

  • Paul Zyla

    SVP/CHIEF INFORMATION OFFICER

    Total calculated
    $718,128
    From this org
    $657,156
    From related orgs
    $0
    Other
    $60,972
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,288
    Bonus
    $387,150
    Other
    $150,718
    Deferred
    $43,700
    Nontaxable benefits
    $17,272
    Filer's total
    $718,128

  • William Boden

    PRESIDENT/CHIEF TRANSFORMATION OFFICER

    Total calculated
    $726,581
    From this org
    $694,091
    From related orgs
    $0
    Other
    $32,490
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $296,022
    Bonus
    $395,665
    Other
    $2,404
    Deferred
    $18,565
    Nontaxable benefits
    $13,925
    Filer's total
    $726,581

  • Tara Graff

    SVP CHIEF COMMUNICATIONS OFFICER

    Total calculated
    $249,643
    From this org
    $232,480
    From related orgs
    $0
    Other
    $17,163
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $99,109
    Bonus
    $1,818
    Other
    $131,553
    Deferred
    $0
    Nontaxable benefits
    $17,163
    Filer's total
    $249,643

  • Glen Durbahn

    SVP/CHIEF DELIVERY OFFICER

    Total calculated
    $282,172
    From this org
    $273,767
    From related orgs
    $0
    Other
    $8,405
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,778
    Bonus
    $8,654
    Other
    $88,335
    Deferred
    $0
    Nontaxable benefits
    $8,405
    Filer's total
    $282,172

  • Aaron Kastner

    SVP/CHIEF FINANCIAL OFFICER

    Total calculated
    $339,026
    From this org
    $317,923
    From related orgs
    $0
    Other
    $21,103
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,366
    Bonus
    $2,150
    Other
    $184,407
    Deferred
    $0
    Nontaxable benefits
    $21,103
    Filer's total
    $339,026

  • Brian White

    SVP/CHIEF INFORMATION OFFICER

    Total calculated
    $350,298
    From this org
    $323,786
    From related orgs
    $0
    Other
    $26,512
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $216,704
    Bonus
    $86,679
    Other
    $20,403
    Deferred
    $0
    Nontaxable benefits
    $26,512
    Filer's total
    $350,298

  • Dean Warzala

    SVP/CHIEF MARKETING OFFICER

    Total calculated
    $372,985
    From this org
    $318,637
    From related orgs
    $0
    Other
    $54,348
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $282,001
    Bonus
    $32,389
    Other
    $4,247
    Deferred
    $23,000
    Nontaxable benefits
    $31,348
    Filer's total
    $372,985

  • Christine Cordell

    SVP/CHIEF PROJECT & LEARNING OFFICER

    Total calculated
    $294,057
    From this org
    $253,292
    From related orgs
    $0
    Other
    $40,765
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $197,852
    Bonus
    $37,862
    Other
    $17,578
    Deferred
    $3,200
    Nontaxable benefits
    $37,565
    Filer's total
    $294,057

  • Tom Langseth

    INVESTMENT SERVICE ADVISOR

    Total calculated
    $580,149
    From this org
    $510,161
    From related orgs
    $0
    Other
    $69,988
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $79,836
    Bonus
    $426,803
    Other
    $3,522
    Deferred
    $43,700
    Nontaxable benefits
    $26,288
    Filer's total
    $580,149

  • Steve Carlson

    FINANCIAL EXECUTIVE

    Total calculated
    $379,249
    From this org
    $323,451
    From related orgs
    $0
    Other
    $55,798
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $83,940
    Bonus
    $237,890
    Other
    $1,621
    Deferred
    $20,082
    Nontaxable benefits
    $35,716
    Filer's total
    $379,249

  • Windy Maczko

    WEALTH MANAGEMENT

    Total calculated
    $351,847
    From this org
    $288,805
    From related orgs
    $0
    Other
    $63,042
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $81,614
    Bonus
    $205,155
    Other
    $2,036
    Deferred
    $40,831
    Nontaxable benefits
    $22,211
    Filer's total
    $351,847

  • David Engler

    VP WEALTH MANAGEMENT

    Total calculated
    $473,892
    From this org
    $417,687
    From related orgs
    $0
    Other
    $56,205
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $17,042
    Bonus
    $399,585
    Other
    $1,060
    Deferred
    $23,500
    Nontaxable benefits
    $32,705
    Filer's total
    $473,892

  • Scott Ekholm

    FINANCIAL ADVISOR

    Total calculated
    $416,939
    From this org
    $365,440
    From related orgs
    $0
    Other
    $51,499
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $63,884
    Bonus
    $300,850
    Other
    $706
    Deferred
    $23,500
    Nontaxable benefits
    $27,999
    Filer's total
    $416,939

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 · 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
PARTICIPATED IN 457 (F) AND RECEIVED DISTRIBUTION AMOUNTS: JAMES GANGER $400,000 CLIFF WANTZ $400,000 CASEY CARLSON $400,000 DAN STOLTZ $386,180

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

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • BLAZE FOUNDATION

    501(C)3 · TO PROVIDE THE COMMUNITY ASSISTANCE · MN

    Directly controlled by BLAZE CREDIT UNION

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • ROCHDALE AGENCY INC

    C · INSURANCE · MN · 100% owned · share of assets $10 · controlled entity

    Directly controlled by BLAZE CREDIT UNION

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202543219349308094

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