2023-11-09T09:42:13-06:00 2022-12-31 390758449 WIPFLI LLP 1502 LONDON ROAD SUITE 200 DULUTH MN 55812 990 2022-01-01 416024250 SHAREPOINT CREDIT UNION SHAR 9529300700 5300 HYLAND GREENS DRIVE BLOOMINGTON MN 55437 PAUL VORK SVP OF FINANCE & CONTROLLER 9529300700 2023-11-02 1 PAUL VORK 999009999 1 MICHAEL J PETERSON CPA P01833529 2187224705 2023-11-02 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z PHILLIP KOPISCHKE 5300 HYLAND GREENS DRIVE BLOOMINGTON MN 55437 23286281 0 X WWW.SHAREPOINTCU.COM X CU 1933 MN THE CREDIT UNION'S MISSION IS TO OFFER COMPETITIVE LOAN AND DEPOSIT PRODUCTS TO OUR MEMBERSHIP TO CREASE LIFELONG FINANCIAL RELATIONSHIPS. 8 8 73 12 7364 0 0 0 11736644 10555359 955567 1212075 62160 513003 12754371 12280437 0 920 0 0 4774941 4491761 0 0 0 5318295 5957257 10093236 10449938 2661135 1830499 305038768 301847675 273420943 277243214 31617825 24604461 THE CREDIT UNION'S MISSION IS TO OFFER COMPETITIVE LOAN AND DEPOSIT PRODUCTS TO OUR MEMBERSHIP TO CREATE LIFELONG FINANCIAL RELATIONSHIPS. 0 0 DIVIDENDS AND INTEREST PAID TO MEMBERS ON APPROXIMATELY 33,000 DEPOSIT ACCOUNTS HELD BY APPROXIMATELY 21,000 MEMBERS. PROVIDING SAVINGS DEPOSIT SERVICES, ORIGINATING NEW LOANS, AND SERVICING THE LOAN PORTFOLIO FOR MEMBERS. RECORDING MEMBER ACCOUNT ACTIVITY AND PROVIDING ACCESS TO MEMBERS TO THEIR ACCOUNTS VIA HOME BANKING, ATM NETWORKS AND IN PERSON AT THE CREDIT UNION OFFICES. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 5728 0 73 1 1 1 0 0 0 0 0 0 0 X 8 8 1 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 0 0 X PAUL VORK 9529300700 5300 HYLAND GREENS DRIVE BLOOMINGTON MN 55437 JOSEPH SCHMIDT CHAIR 1.00 X X 3240 0 0 NICHOLAS NELSON VICE CHAIR 1.00 X X 1710 0 0 SCOTT WEICHT SECRETARY 1.00 X X 2340 0 0 JOSEPH BUDNICK DIRECTOR 0.50 X 2385 0 0 TODD CORBO DIRECTOR 0.50 X 3375 0 0 JEAN GALLO DIRECTOR 0.50 X 653 0 0 GARY HAWLEY DIRECTOR 0.50 X 3015 0 0 ALAN PEDERSON DIRECTOR 0.50 X 2835 0 0 PHILLIP KOPISCHKE CEO 40.00 X 343451 0 16612 JULIE TANNER CFO 40.00 X 185755 0 9990 KERRI HINIKER VICE PRESIDENT OF LENDING 40.00 X 157674 0 5459 PAUL VORK VICE PRESIDENT OF FINANCE/CONTROLLER 40.00 X 127008 0 4632 MEGAN HAMMACK VICE PRESIDENT OF OPERATIONS 40.00 X 113107 0 4114 KERRI COWDEN VICE PRESIDENT OF MEMBER SERVICES 40.00 X 105931 0 10892 1052479 0 51699 6 0 1 0 FISERV PO BOX 934057 ATLANTA GA 31193 BANKING SYSTEMS: CORE, ACCOUNTING/FINANC 399862 CU SOLUTIONS PO BOX 8054 PLYMOUTH MI 48170 ONLINE/MOBILE BANKING 270937 SERVION MORTGAGE 500 MAIN STREET NEW BRIGHTON MN 55112 1ST MTG SERVICING/TAX FEES & ESCROWS 115035 3 INTEREST ON LOANS 522100 7877873 7877873 FEE INCOME 522100 2677486 2670122 7364 10555359 1248082 1248082 62160 0 62160 62160 62160 10969837 11005844 -36007 -36007 -36007 BAD DEBT RECOVERIES 900099 450843 450843 450843 12280437 10547995 7364 1725078 920 575361 2886512 93183 675403 261302 13145 54000 322730 303219 547548 327342 351574 80489 19884 301249 12558 LOAN SERVICING EXPENSE 1134942 DIVIDENDS ON MEMBER SHA 1074982 DEBIT & CREDIT CARD EXP 681583 ATM EXPENSE 471346 260666 10449938 996104 953201 23523942 7895358 412873 507738 3105734 3163461 161793032 185872149 352081 398583 8289585 3871053 4563327 4418532 95075658 84645870 6751707 5759707 8464310 8233076 305038768 301847675 948478 1057492 272472465 276185722 273420943 277243214 X 0 0 0 0 31617825 24604461 31617825 24604461 305038768 301847675 1830499 -8843863 0 X 0 1 X 1 0 1202810 1202810 4217986 1327703 2890283 103720 61079 42641 2765069 2482271 282798 4418532 MEMBERS' SHARE AND DEPOSITS 271185722 LINE OF CREDIT 5000000 276185722 X 12280437 0 12280437 0 12280437 10449938 0 10449938 0 10449938 PART X, LINE 2: THE CREDIT UNION MAY RECOGNIZE A LIABILITY FOR UNRECOGNIZED TAX BENEFITS FROM UNCERTAIN TAX POSITIONS. UNRECOGNIZED TAX BENEFITS REPRESENT THE DIFFERENCES BETWEEN A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN AND THE BENEFIT RECOGNIZED AND MEASURED IN THE FINANCIAL STATEMENT. INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS ARE CLASSIFIED AS INCOME TAX EXPENSE. X 0 1 X X X 0 0 0 PHILLIP KOPISCHKE CEO 293579 0 49872 0 0 0 12012 0 4600 0 360063 0 0 0 JULIE TANNER CFO 149100 0 31758 0 4897 0 5340 0 4650 0 195745 0 0 0 KERRI HINIKER VICE PRESIDENT OF LENDING 125108 0 26649 0 5917 0 5459 0 0 0 163133 0 0 0 PART I, LINE 1A SOCIAL CLUB DUES - PHILLIP KOPISCHKE, NOT INCLUDED IN TAXABLE COMPENSATION THE PRIMARY PURPOSE OF SOCIAL CLUB MEMBERSHIP IS TO CONDUCT BUSINESS RELATED MEETINGS WITH EMPLOYEES, BOARD MEMBERS, ETC. ANY TRANSACTIONS AT SOCIAL CLUB FOR PERSONAL USE ARE DEDUCTED FROM THE EMPLOYEE'S PERSONAL CHECKING ACCOUNT AT THE CREDIT UNION. PART I, LINE 1B WE DO NOT HAVE A WRITTEN POLICY REGARDING THE ECC MEMBERSHIP. BOTH THE EMPLOYEE AND ORGANIZATION'S ACCOUNTS PAYABLE TEAM RECEIVE COPIES OF THE MONTHLY STATEMENTS. THE EMPLOYEE PROVIDES A BREAKDOWN OF THE ATTENDEES AND PURPOSE OF EACH EXPENSE, AS WELL AS ANY NECESSARY SUPPORTING INFORMATION. THE STATEMENTS ARE REVIEWED AND APPROVED BY THE CFO OR SVP OF FINANACE & CONTROLLER BEFORE PAYMENT IS REMITTED DIRECTLY TO THE SOCIAL CLUB. JULIE TANNER CFO SPLIT-DOLLAR LIFE INSURANCE X 487500 565940 0 1 1 PHILLIP KOPISCHKE CEO SPLIT-DOLLAR LIFE INSURANCE X 2237500 2597521 0 1 1 3163461 KELLI HANSON DAUGHTER OF JULIE TANNER (CFO) 20033 COMPENSATION PAID TO DAUGHTER OF JULIE TANNER (CFO) 0 FORM 990, PART VI, SECTION A, LINE 2 ALAN PEDERSON AND NICHOLAS NELSON HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS COMPRISED OF A SINGLE CLASS OF APPROXIMATELY 23,000 MEMBER-OWNERS, EACH OF WHICH HAS EQUAL RIGHTS IN OWNERSHIP, GOVERNANCE, AND VOTING RIGHTS AT THE ANNUAL MEETINGS, WITH THE EXCEPTION OF THE MEMBER-OWNERS WHO ARE ELECTED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBER-OWNERS OF THE CREDIT UNION HAVE THE AUTHORITY TO ELECT THE MEMBERS OF THE BOARD OF DIRECTORS FOR THREE-YEAR TERMS ON A ROTATING BASIS. CANDIDATES ARE ELECTED BY A SIMPLE PLURALITY VOTE. THE BOARD OF DIRECTORS APPOINT VOLUNTEERS TO SERVE ON THE SUPERVISORY COMMITTEE, WHICH IS VESTED WITH MONITORING SAFETY AND SOUND SHIP OF THE ORGANIZATION. IF DEEMED APPROPRIATE, THE SUPERVISORY COMMITTEE CAN SUSPEND BOARD MEMBERS AND CAN CALL A SPECIAL MEETING OF THE MEMBERSHIP TO EVALUATE THE ISSUE AND VOTE TO EITHER DISMISS OR REINSTATE THE BOARD MEMBER. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO THE GOVERNING DOCUMENTS (BYLAWS) MUST BE APPROVED BY THE MEMBER-OWNERS AFTER THEY HAVE BEEN APPROVED BY THE BOARD OF DIRECTORS AND THE REGULATORY AGENCY. APPROVAL OCCURS WHEN AT LEAST 50% OF THE MEMBER-OWNERS VOTE TO APPROVE. FORM 990, PART VI, SECTION B, LINE 11B THE ACCOUNTING STAFF PREPARES THE NECESSARY DOCUMENTS FOR THE COMPLETION OF THE 990. PRIOR TO BEING FILED WITH THE IRS, A MEMBER OF SENIOR MANAGEMENT REVIEWS THE RETURN FOR ACCURACY. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION DOES NOT HAVE A FORMAL CONFLICT OF INTEREST POLICY, HOWEVER, THERE IS A CODE OF ETHICS WHICH COVERS CONFLICTS OF INTEREST. THE CODE OF ETHICS AND CONFIDENTIALITY AGREEMENT IS SIGNED EACH YEAR BY ALL BOARD MEMBERS. THE AGREEMENTS ARE COLLECTED AND REVIEWED BY THE SUPERVISORY COMMITTEE. VIOLATION OF THE CODE OF ETHICS AND CONFIDENTIALITY AGREEMENT CAN RESULT IN REMOVAL FROM THE BOARD OR SUPERVISORY COMMITTEE. ANY POTENTIAL CONFLICTS OF INTERESTS THAT MAY APPEAR DURING THE YEAR ARE TO BE REPORTED TO THE CEO, CHAIR OF THE BOARD, AND OR CHAIR OF THE SUPERVISORY COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15A THE CEO'S COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD. THEY USE COMPARABLE INDUSTRY DATA PRODUCED BY CUNA TO DETERMINE THE PAY RANGE. PERFORMANCE IS DOCUMENTED ON AN ANNUAL REVIEW FORM COMPLETED BY ALL BOARD DIRECTORS. OTHER KEY OFFICERS ARE REVIEWED ON AN ANNUAL BASIS BY THE CEO. PAY RANGES ARE DETERMINED BY INDUSTRY SALARY SURVEYS. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION'S LOBBIES AND ON OUR WEBSITE. OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST.