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Nonprofiteer
← MEMBERS COOPERATIVE CREDIT UNION

Form 990 for tax year 2025

Filed by MEMBERS COOPERATIVE CREDIT UNION.

Totals

Total revenue
$69,886,373
Total expenses
$63,279,312
Contributions and grants received
$0
Grants paid
$178,766
Program service revenue
$62,682,608
Investment income
$7,203,765
Other revenue
$0
Total assets, end of year
$1,172,158,864
Total liabilities, end of year
$1,057,865,842
Net assets or fund balances, end of year
$114,293,022
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 $49,740,719 · related or exempt $49,740,719

  • 2b · Program service revenue: OTHER OPERATING INCOME

    total $7,116,104 · related or exempt $7,116,104

  • 2c · Program service revenue: FEE INCOME

    total $5,825,785 · related or exempt $5,490,738 · unrelated business $335,047

  • 3 · Investment income

    total $5,078,802 · excluded $5,078,802

  • 7a · Gross sales of assets other than inventory

    other assets $6,558,430

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

    other assets $4,433,467

  • 7c · Gain or loss

    other assets $2,124,963

  • 7d · Net gain or loss

    total $2,124,963 · excluded $2,124,963

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $178,766

  • 4 · Benefits paid to or for members

    total $13,699,442

  • 5 · Compensation of officers, directors and key employees

    total $3,156,267

  • 7 · Other salaries and wages

    total $12,258,585

  • 8 · Pension plan contributions

    total $3,374,224

  • 9 · Other employee benefits

    total $2,335,085

  • 10 · Payroll taxes

    total $1,330,738

  • 11b · Fees: legal

    total $213,111

  • 11c · Fees: accounting

    total $229,852

  • 11g · Fees: other

    total $3,705,605

  • 12 · Advertising and promotion

    total $1,232,486

  • 13 · Office expenses

    total $5,987,995

  • 16 · Occupancy

    total $1,519,495

  • 17 · Travel

    total $50,705

  • 19 · Conferences, conventions and meetings

    total $186,776

  • 20 · Interest

    total $3,644,319

  • 22 · Depreciation, depletion and amortization

    total $1,989,501

  • 23 · Insurance

    total $329,476

  • 24a · Other expenses: PROVISION FOR CREDIT LO

    total $5,223,392

  • 24b · Other expenses: LOAN SERVICING EXPENSE

    total $1,802,590

  • 24c · Other expenses: MISCELLANEOUS OPERATING

    total $792,482

  • 24d · Other expenses: OPERATING FEES

    total $38,420

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $48,217,117 · end of year $59,775,157

  • 4 · Accounts receivable

    beginning of year $2,067,998 · end of year $3,213,438

  • 5 · Loans and receivables from officers and key people

    beginning of year $9,256,436 · end of year $9,549,702

  • 7 · Other notes and loans receivable

    beginning of year $918,581,939 · end of year $924,760,404

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,701,620 · end of year $1,860,071

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

    $49,511,921

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

    $23,151,938

  • 10c · Land, buildings and equipment, net

    beginning of year $27,374,299 · end of year $26,359,983

  • 12 · Investments: other securities

    beginning of year $87,423,401 · end of year $95,047,344

  • 13 · Investments: program-related

    beginning of year $29,444,036 · end of year $24,052,283

  • 15 · Other assets

    beginning of year $25,933,229 · end of year $27,540,482

  • 17 · Accounts payable and accrued expenses

    beginning of year $15,802,536 · end of year $20,504,558

  • 23 · Secured mortgages and notes payable

    beginning of year $93,500,000 · end of year $74,500,000

  • 25 · Other liabilities

    beginning of year $935,717,297 · end of year $962,861,284

  • 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 $104,980,242 · end of year $114,293,022

Mission and programs · 2025

Mission

TO MAKE OUR COMMUNITIES STRONGER, OUR EMPLOYEES HAPPIER, AND OUR WORLD BETTER.

Activities or mission (Part I)

TO CONDUCT THE ORDINARY AND NECESSARY BUSINESS OF A CREDIT UNION INVOLVING THE RECEIVING OF SAVINGS OF MEMBERS AND LENDING MONEY TO MEMBERS FOR PROVIDENT PURPOSES.

  • DIVIDENDS AND INTEREST OF $13.7 MILLION WAS PAID TO MEMBERS IN 2025 ON 131,600 DEPOSIT ACCOUNTS. WE STRIVE TO OFFER COMPETITVE RATES TO OUR MEMBERS.

  • 24,836 LOANS TOTALING OVER $934 MILLION WERE ACTIVE FOR CONSUMER, MORTGAGE AND COMMERCIAL LOANS. OUR GOAL IS TO OFFER LOANS AT REASONABLE RATES TO OUR MEMBERS. TO PROVIDE INDIRECT LOANS TO CUSTOMERS OF AUTO DEALERSHIPS IN THE AREA AT COMPETITIVE RATES.

  • AVAILABILITY OF 15 OF OUR OWN ATM'S AS WELL AS A LARGE NETWORK OF ATM'S NATION AND WORLD WIDE TO OUR MEMBERS AND NON-MEMBERS. WE WANT TO OFFER CONVENIENCE TO OUR MEMBERS AFTER HOURS AND AWAY FROM HOME.

As filed on the 2025 return.

Listed in Part VII

  • Doris Dahl

    CHAIR

    Total calculated
    $21,849
    From this org
    $21,849
    From related orgs
    $0
    Other
    $0
    Hours/week
    14.7

  • David Vukelich

    VICE CHAIR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    13.1

  • John Gilbert

    DIRECTOR

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.7

  • Russ Salgy

    DIRECTOR

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.1

  • Rodney Bibeau

    DIRECTOR

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.3

  • Joe Wolff

    DIRECTOR

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.2

  • Mary Krohn

    ASSOCIATE DIRECTOR

    Total calculated
    $6,220
    From this org
    $6,220
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Nial Andre Muson Klyn

    ASSOCIATE DIRECTOR

    Total calculated
    $6,869
    From this org
    $6,869
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Tami Jacobs

    ASSOCIATE DIRECTOR

    Total calculated
    $5,298
    From this org
    $5,298
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Stephen Ewers

    PRESIDENT/CEO

    Total calculated
    $998,145
    From this org
    $938,025
    From related orgs
    $0
    Other
    $60,120
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $462,174
    Bonus
    $412,403
    Other
    $63,448
    Deferred
    $17,500
    Nontaxable benefits
    $42,620
    Filer's total
    $998,145

  • Ralph Hamann

    CFO/CHRO

    Total calculated
    $561,532
    From this org
    $486,829
    From related orgs
    $0
    Other
    $74,703
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $363,361
    Bonus
    $85,101
    Other
    $38,367
    Deferred
    $35,000
    Nontaxable benefits
    $39,703
    Filer's total
    $561,532

  • Janet Vold

    CIO/COO

    Total calculated
    $552,029
    From this org
    $488,467
    From related orgs
    $0
    Other
    $63,562
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $359,011
    Bonus
    $83,751
    Other
    $45,705
    Deferred
    $35,000
    Nontaxable benefits
    $28,562
    Filer's total
    $552,029

  • Stephan Glonchak

    CHIEF LENDING OFFICER

    Total calculated
    $494,190
    From this org
    $438,964
    From related orgs
    $0
    Other
    $55,226
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $312,036
    Bonus
    $70,037
    Other
    $56,891
    Deferred
    $35,000
    Nontaxable benefits
    $20,226
    Filer's total
    $494,190

  • Simone Suri

    GENERAL COUNSEL

    Total calculated
    $474,135
    From this org
    $411,191
    From related orgs
    $0
    Other
    $62,944
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $310,463
    Bonus
    $71,094
    Other
    $29,634
    Deferred
    $35,000
    Nontaxable benefits
    $27,944
    Filer's total
    $474,135

  • Susan Shold

    VP HR

    Total calculated
    $216,465
    From this org
    $187,499
    From related orgs
    $0
    Other
    $28,966
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $170,975
    Bonus
    $9,520
    Other
    $7,004
    Deferred
    $14,934
    Nontaxable benefits
    $14,032
    Filer's total
    $216,465

  • Neil Sample

    VP BUSINESS SERVICES

    Total calculated
    $197,710
    From this org
    $177,820
    From related orgs
    $0
    Other
    $19,890
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $157,127
    Bonus
    $8,552
    Other
    $12,141
    Deferred
    $17,785
    Nontaxable benefits
    $2,105
    Filer's total
    $197,710

  • Cory Stenson

    MORTGAGE MANAGER

    Total calculated
    $204,710
    From this org
    $173,814
    From related orgs
    $0
    Other
    $30,896
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $158,603
    Bonus
    $8,855
    Other
    $6,356
    Deferred
    $17,673
    Nontaxable benefits
    $13,223
    Filer's total
    $204,710

  • Marisa Jerama

    VP RETAIL MANAGEMENT

    Total calculated
    $195,187
    From this org
    $160,897
    From related orgs
    $0
    Other
    $34,290
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $151,587
    Bonus
    $9,220
    Other
    $90
    Deferred
    $16,465
    Nontaxable benefits
    $17,825
    Filer's total
    $195,187

  • Eric Fuglister

    VP CONSUMER LENDING

    Total calculated
    $168,618
    From this org
    $159,084
    From related orgs
    $0
    Other
    $9,534
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $150,554
    Bonus
    $8,272
    Other
    $258
    Deferred
    $7,941
    Nontaxable benefits
    $1,593
    Filer's total
    $168,618

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 · 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)

PART I, LINE 1A
AIR FARE FOR SPOUSE FOR 3 BOARD MEMBERS FOR BOARD CONFERENCE
PART I, LINE 1B
BOARD MEMBERS RECEIVE 1099'S; NOT W2'S.
PART I, LINE 3
CEO COMPENSATION BASED ON RANGE PROVIDED BY D HILTON AND APPROVED BY BOARD. CHIEFS AND GENERAL COUNSEL ALSO BASED ON RANGE PROVIDED BY D HILTON AND APPROVED BY CEO. THE CEO REVIEWS SALARY SURVEY RESULTS FROM ADP PAYSCALE BASED ON JOB DESCRIPTIONS OF OTHER OFFICERS AND KEY EMPLOYEES. SALARY SURVEYS ARE USED TO DETERMINE SALARY RANGE.

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

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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • MEMBERS DIRECT INSURANCE AGENCY

    INSURANCE · MN · income $0 · assets $0

    Directly controlled by MEMBERS COOPERATIVE CREDIT UNION

Provenance

Return type
form_990
Tax year
2025
Filed
8 September 2026
IRS schema version
2025v4.2
Source object
202612519349302021

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