2025-04-02T12:14:14-04:00 2024-12-31 461065712 BRENT WOOKEY CPA PO BOX 1512 LA CROSSE WI 546021512 990 2024-01-01 410615030 UNITED EMPLOYEES CREDIT UNION UNIT 5073771616 430 BRIDGE AVE ALBERT LEA MN 56007 MATT MARAS PRESIDENT / CEO 5073771616 2025-03-29 true true BRENT WOOKEY CPA P00062439 6087920843 2025-04-02 X 2024 2025-03-06 01:10:19Z MATT MARAS 430 BRIDGE AVE ALBERT LEA MN 56007 2746257 false X UNITEDECU.COM X CREDIT UNION 1932 MN TO PROVIDE MEMBER-OWNERS A SOUND FINANCIAL ENVIRONMENT WHILE MAINTAINING A PERSONAL LEVEL OF SERVICE WITH A HIGH LEVEL OF QUALITY AND EFFICIENCY. 7 7 10 10 150 0 1335482 1648741 736079 1071487 5986 5723 2077547 2725951 1000 500 0 574918 583433 0 0 1020249 1528060 1596167 2111993 481380 613958 57604303 59952132 50217462 51951333 7386841 8000799 TO PROVIDE MEMBER-OWNERS A SOUND FINANCIAL ENVIRONMENT WHILE MAINTAINING A PERSONAL LEVEL OF SERVICE WITH A HIGH LEVEL OF QUALITY AND EFFICIENCY. false false THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 153 NEW DEPOSIT ACCOUNTS IN 2024. AS OF 12/31/24 WE HAD 4,050 MEMBERS. THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 678 NEW LOANS TO OUR MEMBERS DURING 2024. AS OF 12/31/24 WE HAD 2,155 LOANS TO OUR MEMBERS. false false false false false false false false false true false true false true false false false false false false false false false false false false false false true false false false false false false false false false false false false false false true 1198 0 true 10 true false false false false false false false false X 7 7 false false false false true true true true true false false false true true true false true true true false X MATT MARAS 5073771616 430 BRIDGE AVE ALBERT LEA MN 56007 MATT MARAS PRESIDENT / 45.00 X 144269 0 13652 DAVID SCHROEDER VICE PRESIDE 42.00 X 72473 0 21023 MARGARET FLATNESS VICE PRESIDE X 14074 0 1015 C THAYNE NORDLAND BOARD CHAIR 1.00 X X 0 0 0 STEVE GUENTHNER VICE CHAIR 1.00 X X 0 0 0 GRACE STEIL SECRETARY 1.00 X X 0 0 0 LEON HELLICKSON DIRECTOR 1.00 X 0 0 0 RON TIMM DIRECTOR 1.00 X 0 0 0 STEVE BOWRON DIRECTOR 1.00 X 0 0 0 JAY WALTMAN DIRECTOR 1.00 X 0 0 0 230816 35690 1 false true false INTEREST ON LOANS 522130 1520839 1520839 MEMBER FEE INCOME 522130 111648 111648 OTHER MEMBER RELATED REVENUE 522130 16104 16104 MECH REPAIR INSUR INCOME 520000 150 150 1648741 1074093 1074093 5723 5723 17700 20306 -2606 -2606 -2606 2725951 1645985 150 1079816 500 230816 230010 40033 45754 36820 17497 38589 135904 33608 20948 7766 9276 105 17855 21717 DIVIDENDS EXPENSE 1097169 LOAN SERVICING 119626 CREDIT LOSS EXPENSE 8000 2111993 0 0 0 302410 312357 8984037 10982561 26881550 26646588 85037 60298 1046186 914830 146946 131356 20520187 21095614 684136 723358 57604303 59952132 365493 493054 49851969 51458279 50217462 51951333 X 7386841 8000799 7386841 8000799 57604303 59952132 613958 X false false 447567 329490 118077 598619 585340 13279 131356 INVESTMENTS WITH MATURITY > 1 YEAR 21008000 C DEFERRED COMP INVESTMENT 45310 C CORPORATE CREDIT UNION CAPITAL ACCTS 42304 C 21095614 MEMBER SHARES & DEPOSITS 51458279 51458279 X X X false true false MATT MARAS PRESIDENT / CEO 136730 6000 1539 13520 132 157921 SCHEDULE J, PAGE 1, PART I, LINE 4 MATT MARAS 0 3,529 0 SCHEDULE J, PART III THE CREDIT UNION PROVIDES A 457 F PLAN FOR THE PRESIDENT. THE PRESIDENT DOES NOT CONTRIBUTE TO THE PLAN. THE CREDIT UNION CONTRIBUTION FOR THIS YEAR IS SHOWN ABOVE. FORM 990, PAGE 6, PART VI, LINE 6 THE ORGANIZATION HAS MEMBERS. TO BE A MEMBER ONE MUST HAVE A SHARE (SAVINGS) ACCOUNT AT THE CREDIT UNION. FORM 990, PAGE 6, PART VI, LINE 7A THE BOARD OF DIRECTORS IS ELECTED BY THE CREDIT UNION MEMBERS. EACH MEMBER HAS ONE VOTE. FORM 990, PAGE 6, PART VI, LINE 7B A MEMBER VOTE IS REQUIRED FOR DECISIONS WHICH ARE BEYOND THE AUTHORITY OF THE BOARD OF DIRECTORS. ITEMS WHICH REQUIRE A MEMBERSHIP VOTE ARE OUTLINED AND SPECIFIED IN OUR BYLAWS. EACH MEMBER HAS ONE VOTE. FORM 990, PAGE 6, PART VI, LINE 11B MANAGEMENT PROVIDES NECESSARY DATA TO INDEPENDENT CPA WHO COMPLETES THE RETURN. MANAGEMENT REVIEWS THE RETURN FOR ACCURACY, AND THEN AUTHORIZES THE CPA TO E-FILE THE APPROVED RETURN. MANAGEMENT REVIEWS THE RETURN WITH THE DIRECTORS AT THE NEXT BOARD MEETING. FORM 990, PAGE 6, PART VI, LINE 12C BOARD MEMBERS AND OFFICERS ANNUALLY COMPLETE A SURVEY RELATED TO LOANS, BUSINESS RELATIONSHIPS, AND FAMILY MEMBERS THAT COULD, OR DO, CREATE A CONFLICT OF INTEREST. THESE ARE SUMMARIZED AND REVIEWED IN A DOCUMENT PRESENT AT A BOARD MEETING. FORM 990, PAGE 6, PART VI, LINE 15A PERSONNEL/BUDGET COMMITTEE COMPRISED OF BOARD MEMBERS REVIEWS PERFORMANCE, EXAMINES SALARY RANGES, AND BRINGS RECOMMENDATIONS FOR PRESIDENT COMPENSATION TO BOARD OF DIRECTORS FOR APPROVAL. THE TOTAL COMPENSATION FOR ALL EMPLOYEES IS APPROVED BY THE BOARD AS PART OF THE BUDGET APPROVAL. BUDGET APPROVAL DOCUMENTED IN THE BOARD MINUTES. FORM 990, PAGE 6, PART VI, LINE 15B KEY EMPLOYEES ARE REVIEWED BY THE MANAGEMENT TEAM WHO DETERMINES THEIR COMPENSATION. THE TOTAL COMPENSATION FOR ALL EMPLOYEES IS APPROVED BY THE BOARD AS PART OF THE BUDGET APPROVAL. BUDGET APPROVAL DOCUMENTED IN THE BOARD MINUTES. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS AND CONFILCT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY.