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Nonprofiteer
← WESTERN COOPERATIVE CREDIT UNION

Form 990 for tax year 2022

Filed by WESTERN COOPERATIVE CREDIT UNION.

Totals

Total revenue
$16,661,044
Total expenses
$12,892,014
Contributions and grants received
$490,000
Grants paid
$0
Program service revenue
$12,630,429
Investment income
$3,459,015
Other revenue
$81,600
Total assets, end of year
$446,507,146
Total liabilities, end of year
$415,698,354
Net assets or fund balances, end of year
$30,808,792
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.

  • 1e · Government grants (contributions)

    $490,000

  • 2a · Program service revenue: LOANS TO MEMBERS

    total $8,689,010 · related or exempt $8,689,010

  • 2b · Program service revenue: MISCELLANEOUS OPERATING INCOME

    total $3,040,056 · related or exempt $2,968,056 · unrelated business $72,000

  • 2c · Program service revenue: FEES AND CHARGES

    total $901,363 · related or exempt $874,144 · unrelated business $27,219

  • 3 · Investment income

    total $3,459,015 · excluded $3,459,015

  • 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 $608,973

  • 7 · Other salaries and wages

    total $5,234,267

  • 8 · Pension plan contributions

    total -$210,089

  • 9 · Other employee benefits

    total $1,071,367

  • 10 · Payroll taxes

    total $387,958

  • 11b · Fees: legal

    total $26,400

  • 11c · Fees: accounting

    total $71,319

  • 11g · Fees: other

    total $55,012

  • 12 · Advertising and promotion

    total $555,306

  • 13 · Office expenses

    total $447,169

  • 14 · Information technology

    total $473,891

  • 16 · Occupancy

    total $505,584

  • 17 · Travel

    total $19,366

  • 19 · Conferences, conventions and meetings

    total $54,507

  • 20 · Interest

    total $222,759

  • 22 · Depreciation, depletion and amortization

    total $825,392

  • 23 · Insurance

    total $120,068

  • 24a · Other expenses: INSTANT CASH EXPENSES

    total $1,378,742

  • 24b · Other expenses: EDP EXPENSE

    total $464,636

  • 24c · Other expenses: LOAN AND MEMBER SERVICE

    total $457,743

  • 24d · Other expenses: DUES AND SUBSCRIPTIONS

    total $69,773

  • 24e · All other expenses

    total $51,871

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,998,791 · end of year $5,269,054

  • 2 · Savings and temporary cash investments

    beginning of year $96,865,305 · end of year $69,266,117

  • 4 · Accounts receivable

    beginning of year $0 · end of year $490,000

  • 5 · Loans and receivables from officers and key people

    beginning of year $1,198,361 · end of year $1,200,745

  • 7 · Other notes and loans receivable

    beginning of year $181,182,856 · end of year $202,446,777

  • 9 · Prepaid expenses and deferred charges

    beginning of year $837,713 · end of year $439,845

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

    $24,283,372

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

    $15,662,908

  • 10c · Land, buildings and equipment, net

    beginning of year $9,118,978 · end of year $8,620,464

  • 11 · Investments: publicly traded securities

    beginning of year $109,045,291 · end of year $139,252,405

  • 12 · Investments: other securities

    beginning of year $988,641 · end of year $732,845

  • 15 · Other assets

    beginning of year $17,993,257 · end of year $18,788,894

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,029,155 · end of year $3,024,125

  • 25 · Other liabilities

    beginning of year $377,180,590 · end of year $412,674,229

  • 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 $42,019,448 · end of year $30,808,792

Mission and programs · 2022

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 2022 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
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Lee Murphy

    DIRECTOR

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

  • Melanie Stillwell

    CEO/PRESIDENT

    Total calculated
    $450,580
    From this org
    $398,397
    From related orgs
    $0
    Other
    $52,183
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $398,397
    Bonus
    $0
    Other
    $0
    Deferred
    $47,500
    Nontaxable benefits
    $4,683
    Filer's total
    $450,580

  • Justin Maddison

    CHIEF FINANCIAL OFFICER

    Total calculated
    $251,125
    From this org
    $210,576
    From related orgs
    $0
    Other
    $40,549
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $210,576
    Bonus
    $0
    Other
    $0
    Deferred
    $19,956
    Nontaxable benefits
    $20,593
    Filer's total
    $251,125

  • Scott Schwindt

    CHEIF OPERATIONS OFFICER

    Total calculated
    $151,771
    From this org
    $137,347
    From related orgs
    $0
    Other
    $14,424
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,347
    Bonus
    $0
    Other
    $0
    Deferred
    $12,634
    Nontaxable benefits
    $1,790
    Filer's total
    $151,771

  • Nickolas Dressler

    AG/BUSINESS LOAN MANAGER

    Total calculated
    $154,501
    From this org
    $126,057
    From related orgs
    $0
    Other
    $28,444
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,057
    Bonus
    $0
    Other
    $0
    Deferred
    $7,851
    Nontaxable benefits
    $20,593
    Filer's total
    $154,501

  • Shailoh Kovash

    REGINAL VICE PRESIDENT/IT

    Total calculated
    $109,119
    From this org
    $103,084
    From related orgs
    $0
    Other
    $6,035
    Hours/week
    40

  • Shawn Romo

    SENIOR AG OFFICER

    Total calculated
    $114,723
    From this org
    $100,594
    From related orgs
    $0
    Other
    $14,129
    Hours/week
    40

  • Jason Delorme

    CONSUMER/MORTGAGE LOAN MANAGER

    Total calculated
    $138,461
    From this org
    $104,381
    From related orgs
    $0
    Other
    $34,080
    Hours/week
    40

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, 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 $280,217 · share of assets $391,606 · controlled entity

    Directly controlled by CREDIT UNION SERVICES INC

  • CREDIT UNION SERVICES INC

    C · INSURANCE · ND · 100% owned · share of income $227,129 · share of assets $689,734 · controlled entity

    Directly controlled by WESTERN COOPERATIVE CREDIT UNION

Provenance

Return type
form_990
Tax year
2022
Filed
11 August 2023
IRS schema version
2022v5.0
Source object
202322409349300642

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