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Nonprofiteer
← WESTERN COOPERATIVE CREDIT UNION

Form 990 for tax year 2024

Filed by WESTERN COOPERATIVE CREDIT UNION.

Totals

Total revenue
$24,455,256
Total expenses
$16,921,453
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$18,894,277
Investment income
$5,479,379
Other revenue
$81,600
Total assets, end of year
$482,793,811
Total liabilities, end of year
$433,084,542
Net assets or fund balances, end of year
$49,709,269
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: LOANS TO MEMBERS

    total $14,344,548 · related or exempt $14,344,548

  • 2b · Program service revenue: MISCELLANEOUS OPERATING INCOME

    total $3,752,755 · related or exempt $3,680,755 · unrelated business $72,000

  • 2c · Program service revenue: FEES AND CHARGES

    total $796,974 · related or exempt $770,781 · unrelated business $26,193

  • 3 · Investment income

    total $5,479,379 · excluded $5,479,379

  • 6a · Gross rents

    real property $12,000

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $12,000

  • 6d · Net rental income or loss

    total $12,000 · excluded $12,000

  • 11a · Other revenue: CONTROLLED ENTITY SPECIFIC PAYMEN

    total $69,600 · unrelated business $69,600

  • 11e · Other revenue, total

    $69,600

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $510,138

  • 7 · Other salaries and wages

    total $5,533,698

  • 8 · Pension plan contributions

    total -$170,044

  • 9 · Other employee benefits

    total $1,171,683

  • 10 · Payroll taxes

    total $453,168

  • 11b · Fees: legal

    total $34,913

  • 11c · Fees: accounting

    total $56,752

  • 11g · Fees: other

    total $74,000

  • 12 · Advertising and promotion

    total $1,073,763

  • 13 · Office expenses

    total $500,284

  • 14 · Information technology

    total $627,728

  • 16 · Occupancy

    total $549,639

  • 17 · Travel

    total $21,409

  • 19 · Conferences, conventions and meetings

    total $68,927

  • 20 · Interest

    total $2,925,148

  • 22 · Depreciation, depletion and amortization

    total $764,426

  • 23 · Insurance

    total $137,729

  • 24a · Other expenses: INSTANT CASH EXPENSES

    total $989,391

  • 24b · Other expenses: LOAN AND MEMBER SERVICE

    total $818,851

  • 24c · Other expenses: EDP EXPENSE

    total $515,862

  • 24d · Other expenses: DUES AND SUBSCRIPTIONS

    total $66,956

  • 24e · All other expenses

    total $197,032

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,846,739 · end of year $4,723,324

  • 2 · Savings and temporary cash investments

    beginning of year $23,385,320 · end of year $60,244,765

  • 5 · Loans and receivables from officers and key people

    beginning of year $1,177,079 · end of year $1,184,402

  • 7 · Other notes and loans receivable

    beginning of year $243,586,007 · end of year $236,173,206

  • 9 · Prepaid expenses and deferred charges

    beginning of year $429,070 · end of year $300,341

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

    $24,649,500

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

    $17,152,246

  • 10c · Land, buildings and equipment, net

    beginning of year $7,896,882 · end of year $7,497,254

  • 11 · Investments: publicly traded securities

    beginning of year $138,079,884 · end of year $147,656,749

  • 12 · Investments: other securities

    beginning of year $1,033,284 · end of year $1,050,107

  • 15 · Other assets

    beginning of year $21,306,166 · end of year $23,963,663

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,750,871 · end of year $4,057,646

  • 25 · Other liabilities

    beginning of year $397,985,070 · end of year $429,026,896

  • 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 $40,004,490 · end of year $49,709,269

Mission and programs · 2024

Mission

WCCU EXISTS FOR THE FINANCIAL BENEFIT OF ITS MEMBERS. THE PURPOSE SHALL BE TO MAXIMIZE MEMBER BENEFITS THROUGH COST EFFECTIVE FINANCIAL SERVICES, EDUCATION CONSISTENT WITH COOPERATIVE PRINCIPLES, PRUDENT MANAGEMENT, AND TO MAINTAIN A STRONG PRESENCE IN OUR COMMUNITIES.

Activities or mission (Part I)

WESTERN COOPERATIVE CREDIT UNION EXISTS FOR THE FINANCIAL BENEFIT OF ITS MEMBERS. THE PURPOSE SHALL BE TO MAXIMIZE MEMBER BENEFITS THROUGH COST EFFECTIVE FINANCIAL SERVICES, EDUCATION CONSISTENT WITH COOPERATIVE PRINCIPLES, PRUDENT MANAGEMENT, AND TO MAINTAIN A STRONG PRESENCE IN OUR COMMUNITIES.

  • WESTERN COOPERATIVE CREDIT UNION IS A COMMUNITY-CHARTERED CREDIT UNION. IN ORDER TO QUALIFY FOR MEMBERSHIP, THE INDIVIDUAL OR BUSINESS MUST BE LOCATED WITHIN OUR FIELD OF MEMBERSHIP, WHICH IS:A 75-MILE RADIUS AROUND WILLISTON, ND; ORA 50-MILE RADIUS AROUND DICKINSON, ND; ORA 50-MILE RADIUS AROUND HEBRON, ND; ORA 75-MILE RADIUS AROUND BEACH, ND; ORA 50-MILE RADIUS AROUND GLEN ULLIN, ND; ORA 75-MILE RADIUS AROUND RAY, ND.THOSE BELONGING TO A MEMBER'S FAMILY, INCLUDING: SPOUSES, CHILDREN, STEPCHILDREN, PARENTS, SIBLINGS, GRANDPARENTS, GRANDCHILDREN, STEPPARENTS, STEPSIBLINGS AND ADOPTIVE RELATIONSHIPS.ONCE A PERSON BECOMES A MEMBER, THEIR MEMBERSHIP CONTINUES UNTIL THEY CLOSE THEIR ACCOUNT.

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

Listed in Part VII

  • Larry Novak

    CHAIRMAN

    Total calculated
    $5,200
    From this org
    $5,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Gina Karsky

    SECRETARY - TREASURER

    Total calculated
    $5,200
    From this org
    $5,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Larry Schilke

    VICE CHAIRMAN

    Total calculated
    $5,200
    From this org
    $5,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Heather Feiring

    DIRECTOR

    Total calculated
    $5,200
    From this org
    $5,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Lee Murphy

    DIRECTOR

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Justin Maddison

    CEO/PRESIDENT

    Total calculated
    $459,610
    From this org
    $410,293
    From related orgs
    $0
    Other
    $49,317
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $410,293
    Bonus
    $0
    Other
    $0
    Deferred
    $23,000
    Nontaxable benefits
    $26,317
    Filer's total
    $459,610

  • James Moe

    CHIEF FINANCIAL OFFICER

    Total calculated
    $115,093
    From this org
    $99,845
    From related orgs
    $0
    Other
    $15,248
    Hours/week
    40

  • Scott Schwindt

    CHEIF OPERATIONS OFFICER

    Total calculated
    $175,804
    From this org
    $153,065
    From related orgs
    $0
    Other
    $22,739
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,065
    Bonus
    $0
    Other
    $0
    Deferred
    $21,019
    Nontaxable benefits
    $1,720
    Filer's total
    $175,804

  • Nickolas Dressler

    AG/BUSINESS LOAN MANAGER

    Total calculated
    $178,273
    From this org
    $142,949
    From related orgs
    $0
    Other
    $35,324
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $142,949
    Bonus
    $0
    Other
    $0
    Deferred
    $9,007
    Nontaxable benefits
    $26,317
    Filer's total
    $178,273

  • Shailoh Kovash

    REGINAL VICE PRESIDENT/IT

    Total calculated
    $126,265
    From this org
    $117,452
    From related orgs
    $0
    Other
    $8,813
    Hours/week
    40

  • Jason Delorme

    CONSUMER/MORTGAGE LOAN MAN

    Total calculated
    $153,519
    From this org
    $126,551
    From related orgs
    $0
    Other
    $26,968
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,551
    Bonus
    $0
    Other
    $0
    Deferred
    $15,771
    Nontaxable benefits
    $11,197
    Filer's total
    $153,519

  • Tim Lindemann

    SENIOR AG LOAN OFFICER

    Total calculated
    $134,781
    From this org
    $116,183
    From related orgs
    $0
    Other
    $18,598
    Hours/week
    40

  • Melanie Stillwell

    FORMER CEO/PRESIDENT

    Total calculated
    $209,212
    From this org
    $185,714
    From related orgs
    $0
    Other
    $23,498
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $185,714
    Bonus
    $0
    Other
    $0
    Deferred
    $15,400
    Nontaxable benefits
    $8,098
    Filer's total
    $209,212

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 · Form 990 of other organizations
  • 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
MELANIE STILLWELL, FORMER CEO/PRESIDENT, PARTICIPATES IN A SPLIT DOLLAR LIFE INSURANCE ARRANGEMENT WITH THE ORGANIZATION.

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.

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.

  • KRABSETH AGENCY INC

    C · INSURANCE AGENCY · ND · 100% owned · share of income $150,665 · share of assets $148,722 · controlled entity

    Directly controlled by CREDIT UNION SERVICES INC

  • CREDIT UNION SERVICES INC

    C · INSURANCE · ND · 100% owned · share of income $101,135 · share of assets $544,646 · controlled entity

    Directly controlled by WESTERN COOPERATIVE CREDIT UNION

Provenance

Return type
form_990
Tax year
2024
Filed
7 November 2025
IRS schema version
2024v5.2
Source object
202533189349300718

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