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Nonprofiteer
← EXPEDITION CREDIT UNION

Form 990 for tax year 2025

Filed by EXPEDITION CREDIT UNION.

Totals

Total revenue
$10,914,502
Total expenses
$11,151,053
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$8,169,122
Investment income
$2,498,955
Other revenue
$246,425
Total assets, end of year
$220,334,535
Total liabilities, end of year
$199,218,876
Net assets or fund balances, end of year
$21,115,659
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

    total $7,059,229 · related or exempt $7,059,229

  • 2b · Program service revenue: OTHER INCOME

    total $672,604 · related or exempt $672,604

  • 2c · Program service revenue: FEE INCOME

    total $437,289 · related or exempt $433,689 · unrelated business $3,600

  • 3 · Investment income

    total $2,498,955 · excluded $2,498,955

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

    total $246,425 · related or exempt $246,425

  • 11e · Other revenue, total

    $246,425

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,994,619

  • 5 · Compensation of officers, directors and key employees

    total $855,547

  • 7 · Other salaries and wages

    total $1,818,520

  • 8 · Pension plan contributions

    total $68,003

  • 9 · Other employee benefits

    total $174,227

  • 10 · Payroll taxes

    total $207,780

  • 11b · Fees: legal

    total $42,079

  • 11c · Fees: accounting

    total $135,468

  • 11g · Fees: other

    total $633,341

  • 12 · Advertising and promotion

    total $300,390

  • 13 · Office expenses

    total $1,800,624

  • 16 · Occupancy

    total $624,217

  • 17 · Travel

    total $32,056

  • 20 · Interest

    total $438

  • 22 · Depreciation, depletion and amortization

    total $332,632

  • 23 · Insurance

    total $11,262

  • 24a · Other expenses: LOAN SERVICING EXPENSE

    total $618,569

  • 24b · Other expenses: PROVISION FOR CREDIT L

    total $450,342

  • 24c · Other expenses: MISCELLANEOUS OPERATING

    total $38,939

  • 24d · Other expenses: OPERATING FEES

    total $12,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $292,903 · end of year $250,641

  • 2 · Savings and temporary cash investments

    beginning of year $10,213,408 · end of year $5,785,158

  • 4 · Accounts receivable

    beginning of year $175,870 · end of year $504,734

  • 5 · Loans and receivables from officers and key people

    beginning of year $2,337,564 · end of year $2,377,118

  • 7 · Other notes and loans receivable

    beginning of year $123,581,016 · end of year $117,773,130

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,570,423 · end of year $1,968,271

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

    $6,324,608

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

    $2,280,367

  • 10c · Land, buildings and equipment, net

    beginning of year $3,803,547 · end of year $4,044,241

  • 12 · Investments: other securities

    beginning of year $73,858,441 · end of year $76,138,183

  • 13 · Investments: program-related

    beginning of year $6,828,000 · end of year $7,818,000

  • 15 · Other assets

    beginning of year $3,950,005 · end of year $3,675,059

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,984,425 · end of year $1,728,445

  • 25 · Other liabilities

    beginning of year $205,622,743 · end of year $197,490,431

  • 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 $20,004,009 · end of year $21,115,659

Mission and programs · 2025

Mission

EXPEDITION CREDIT UNION IS A NOT FOR PROFIT FINANCIAL COOPERATIVE OPERATING TO IMPROVE THE FINANCIAL WELL-BEING OF OUR MEMBER OWNERS THROUGH REAL FINANCIAL SOLUTIONS.

  • TO PROVIDE AFFORDABLE CONSUMER LENDING PRODUCTS TO OUR MEMBERS. IN 2025 WE ORIGINATED 1,051 LOANS FOR A TOTAL OF $36,352,761.72.

  • TO PAY FAVORABLE DIVIDENDS ON SAVINGS AND INVESTMENT PRODUCTS TO OUR MEMBERS. IN 2025 WE PAID $2,995,057.03 IN DIVIDENDS TO MEMBERS ON VARIOUS PRODUCTS.

  • TO OFFER AFFORDABLE AND CONVENIENT ELECTRONIC AND CHECKING PRODUCTS TO OUR MEMBERS.

As filed on the 2025 return.

Listed in Part VII

  • Ramona Springis-Doss

    CHAIRMAN

    Total calculated
    $1,588
    From this org
    $1,588
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Dwayne Johnson

    BOARD MEMBER

    Total calculated
    $1,463
    From this org
    $1,463
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • James Smola

    BOARD MEMBER/VICE CHAIR

    Total calculated
    $1,350
    From this org
    $1,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jordan Ford

    BOARD MEMBER/SECRETARY

    Total calculated
    $1,188
    From this org
    $1,188
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Phillip Sterner

    BOARD MEMBER

    Total calculated
    $1,038
    From this org
    $1,038
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Shawn Lannier

    CEO

    Total calculated
    $258,472
    From this org
    $224,456
    From related orgs
    $0
    Other
    $34,016
    Hours/week
    38

    Schedule J breakdown matched by us

    Base
    $212,597
    Bonus
    $7,500
    Other
    $4,359
    Deferred
    $12,756
    Nontaxable benefits
    $21,260
    Filer's total
    $258,472

  • Paul R Dammann

    PRESIDENT/CEO

    Total calculated
    $257,226
    From this org
    $228,270
    From related orgs
    $0
    Other
    $28,956
    Hours/week
    38

    Schedule J breakdown matched by us

    Base
    $218,270
    Bonus
    $10,000
    Other
    $0
    Deferred
    $8,969
    Nontaxable benefits
    $19,987
    Filer's total
    $257,226

  • Brant Puttkammer

    CTO

    Total calculated
    $177,597
    From this org
    $152,791
    From related orgs
    $0
    Other
    $24,806
    Hours/week
    38

    Schedule J breakdown matched by us

    Base
    $144,456
    Bonus
    $4,950
    Other
    $3,385
    Deferred
    $9,271
    Nontaxable benefits
    $15,535
    Filer's total
    $177,597

  • Caleb Hennek

    VP FINANCE

    Total calculated
    $155,625
    From this org
    $139,061
    From related orgs
    $0
    Other
    $16,564
    Hours/week
    38

    Schedule J breakdown matched by us

    Base
    $139,061
    Bonus
    $0
    Other
    $0
    Deferred
    $8,282
    Nontaxable benefits
    $8,282
    Filer's total
    $155,625

  • Angela Seeley

    VP LENDING

    Total calculated
    $119,103
    From this org
    $106,383
    From related orgs
    $0
    Other
    $12,720
    Hours/week
    38

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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

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.

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.

  • EXPEDITION FOUNDATION

    501(C)(3) · FOUNDATION TO AWARD SCHOLARSHIPS AND GRANTS. · MN

    Directly controlled by EXPEDITION CREDIT UNION

Provenance

Return type
form_990
Tax year
2025
Filed
16 June 2026
IRS schema version
2025v4.1
Source object
202621689349300037

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