2025-11-17T16:38:40-06:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2024-01-01 410824021 MY CREDIT UNION MYCR 6127987100 9550 LYNDALE AVENUE SOUTH BLOOMINGTON MN 55420 GREG WORTHEN PRESIDENT 6127987176 2025-11-17 1 1 TANYA MEDGAARDEN P01717240 5074347000 2025-11-17 2024 2025-03-06 01:10:19Z GREG WORTHEN 9550 LYNDALE AVENUE SOUTH BLOOMINGTON MN 55420 19315218 0 1 X WWW.MYMNCU.ORG X CU 1957 MN TO PROVIDE LENDING, SAVINGS AND OTHER FINANCIAL SERVICES TO OUR QUALIFYING MEMBERS AT TERMS GENERALLY BETTER THAN AVAILABLE IN THE MARKETPLACE AND WITH A "SERVICE BASED EMPHASIS" THAT RECOGNIZES THE MEMBERS' STATUS AS OWNERS. 9 9 103 13 103461 0 0 0 17760182 18367579 458434 305073 439564 469182 18658180 19141834 0 0 1154541 2258514 5889071 7286201 0 0 0 9533783 8902542 16577395 18447257 2080785 694577 386343958 376551920 352011648 341399769 34332310 35152151 TO PROVIDE LENDING, SAVINGS AND OTHER FINANCIAL SERVICES TO OUR QUALIFYING MEMBERS AT TERMS GENERALLY BETTER THAN AVAILABLE IN THE MARKETPLACE AND WITH A "SERVICE BASED EMPHASIS" THAT RECOGNIZES THE MEMBERS' STATUS AS OWNERS. 0 0 DIVIDENDS AND INTEREST EXCEEDING $2,258,515. PAID TO MEMBERS ON $330,243,973 DEPOSIT ACCOUNTS HELD BY 23,691 MEMBERS. PROVIDED CONSUMER, MORTGAGE AND BUSINESS LOAN SERVICES TO MEMBERS. GRANTED 803 LOANS IN 2024 WHICH EXCEEDED $25,245,808 IN NEW LOAN DISBURSEMENTS. TOTAL OF ALL LOANS OUTSTANDING WAS OVER $320,934,232 AT YEAR END. PROVIDED OUTSTANDING PERSONAL AND REMOTE ACCESS TO FINANCIAL SERVICES. IN ADDITION TO FOUR IN-PERSON BRANCHES, MY CREDIT UNION MEMBERS ACCESSED FINANCIAL SERVICE THROUGH THE USE OF 4 SURCHARGE FREE ATM'S, OVER 6,770 CREDIT CARDS, OVER 25,575 DEBIT CARDS, AND NEARLY 13,189 MEMBERS USING OUR INTERNET BANKING SITE. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 1 0 0 1 15242 0 103 1 1 1 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X RICK RASMUSSON 6127987176 9550 LYNDALE AVENUE SOUTH BLOOMINGTON MN 55420 JAMES HABECK CHAIRMAN 1.00 X X 0 0 0 JOHN SUAREZ VICE CHAIRMAN 1.00 X X 0 0 0 SCOTT HOFFHINES TREASURER 1.00 X X 0 0 0 TERESA KRUSE SECRETARY 1.00 X 0 0 0 DYLAN KLOPP DIRECTOR 1.00 X 0 0 0 JIM MCDONALD DIRECTOR 1.00 X 0 0 0 SUSAM ROSENBERG DIRECTOR' 1.00 X 0 0 0 LUANN WERNER DIRECTOR 1.00 X 0 0 0 LYNNE SCHERER DIRECTOR 1.00 X 0 0 0 GREG WORTHEN PRESIDENT 40.00 X 454385 0 39908 RICK RASMUSSON CHIEF FINANCIAL OFFICER 40.00 X 230664 0 27533 KAREN HOEPPNER VICE PRESIDENT, LENDING 40.00 X 208923 0 11986 JOHN DEBETTIGNIES VICE PRESIDENT, MEMBER SER 40.00 X 191845 0 11436 PIERRE MERLIN VICE PRESIDENT, IT 40.00 X 202112 0 15097 TODD BARDUSON VICE PRESIDENT, MARKETING 40.00 X 143992 0 13718 TERRY STIREWALT VICE PRESIDENT, COMMERCIAL 40.00 X 113214 0 7044 JULIE PRIBBLE VICE PRESIDENT, HR 40.00 X 140007 0 23958 CHRISTOPHER GUARNERA VP OF COMMERCIAL SERVICES 40.00 X 138269 0 29245 BRADEN WELCH DIRECTOR OF IT 40.00 X 120259 0 14986 1943670 0 194911 8 0 1 0 FISERV INC AND ITS AFFILIATES PO BOX 934057 ATLANTA GA 31193 IT SERVICES 821819 LOFFLER COMPANIES PO BOX 1511 BIN 131511 ST LOUIS PARK MN 55480 IT SERVICES/ PRINTING 478528 ALKAMI TECHNOLOGY 5601 GRANITE PKWY PLANO TX 75024 IT SERVICES 378995 HENNEPIN COUNTY TREASURER A-600 GOVERNMENT CENTER MINNEAPOLIS MN 55487 GOVERNMENT SERVICES 311795 027D PRODUCT DEVELOPMENT 7932 SOMERSET RD WOODBURY MN 55125 PRODUCT DEVELOPMENT 221870 14 LOAN INTEREST 522100 15041196 15041196 OTHER INCOME 524298 2476616 2476616 FEE INCOME 522100 849767 746306 103461 18367579 402344 402344 76113 173384 -97271 -97271 -97271 OTHER INTEREST INCOME 522100 465555 465555 OTHER INCOME 522100 3627 3627 469182 19141834 18636029 103461 402344 X 2258514 1835822 3775394 205347 694216 775422 26945 12717 2342461 495223 2057597 750623 106688 651675 945181 LOAN SERVICING EXPENSE 1209324 MISCELLANEOUS OPERATING 446986 OPERATING FEES 20568 PROVISION FOR CREDIT LO -163446 18447257 1366791 1558194 8611680 13606089 75971 14178 6374511 6644412 331981199 319861559 720141 701121 23434525 7127264 16141167 16307261 11073488 8581794 9999010 9277312 386343958 376551920 3033122 2205782 916576 991436 19000000 8000000 329061950 330202551 352011648 341399769 X 0 0 0 0 34332310 35152151 34332310 35152151 386343958 376551920 694577 125264 0 X X 0 0 0 0 1 X 5844849 5844849 13738567 4544735 9193832 3851109 2582529 1268580 16307261 SHARES/DEPOSITS 330202551 330202551 X PART IV, LINE 2B: THE CREDIT UNION SERVICES MORTGAGE LOANS. CUSTODIAL ESCROW BALANCES ARE MAINTAINED IN CONNECTION WITH THESE LOANS. PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL TAXES ON INCOME RELATED TO THE EXEMPT PURPOSE OF THE CREDIT UNION. PART X, LINE 2 AS ALLOWED BY STATE REGULATORY AUTHORITIES, THE AUDIT IS DONE AS OF JUNE 30. THE REPORTING PERIOD FOR THE AUDIT, THEREFORE, DOES NOT MATCH THE REPORTING PERIOD FOR FORM 990. X X X X X X 0 0 0 GREG WORTHEN PRESIDENT 346251 0 67600 0 40534 0 20700 0 19208 0 494293 0 0 0 RICK RASMUSSON CHIEF FINANCIAL OFFICER 184501 0 38380 0 7783 0 12436 0 15097 0 258197 0 0 0 KAREN HOEPPNER VICE PRESIDENT, LENDING 167416 0 32320 0 9187 0 11986 0 0 0 220909 0 0 0 PIERRE MERLIN VICE PRESIDENT, IT 166019 0 34340 0 1753 0 0 0 15097 0 217209 0 0 0 JOHN DEBETTIGNIES VICE PRESIDENT, MEMBER SER 159664 0 30600 0 1581 0 11436 0 0 0 203281 0 0 0 CHRISTOPHER GUARNERA VP OF COMMERCIAL SERVICES 110576 0 14968 0 12725 0 8020 0 21225 0 167514 0 0 0 JULIE PRIBBLE VICE PRESIDENT, HR 111871 0 23230 0 4906 0 7247 0 16711 0 163965 0 0 0 TODD BARDUSON VICE PRESIDENT, MARKETING 114318 0 23028 0 6646 0 7115 0 6603 0 157710 0 0 0 PART I, LINE 3 COMPENSATION COMMITTEE REVIEWS THE CEO'S PERFORMANCE AND APPROVES SALARY/BENEFIT CHANGES. THIS INFORMATION IS PROVIDED TO THE ENTIRE BOARD ON AN ANNUAL BASIS. GREG WORTHEN PRESIDENT SPLIT DOLLAR PLAN X 3200000 3285989 0 1 1 RICK RASMUSSON CHIEF FINANCIAL OFFICER SPLIT DOLLAR PLAN X 1400000 1494931 0 1 1 KAREN HOEPPNER VP-LENDING SPLIT DOLLAR PLAN X 675000 715131 0 1 1 JOHN DEBETTIGNIES VP-MEMBER SERVICES SPLIT DOLLAR PLAN X 1200000 1148361 0 1 1 6644412 JULIEANN WORTHEN JULIEANN IS WIFE OF GREG WORTHEN, CEO. 31750 JULIEANN IS AN EMPLOYEE OF THE CREDIT UNION 0 SCHEDULE L, PART II NOTED THESE TO BE NON-RECOURSE PLANS THAT ARE RECORDED ON THE BALANCE SHEET AT THE LOWER OF LOAN BALANCE OR CASH SURRENDER VALUE. BECAUSE THE CASH SURRENDER VALUE WAS LOWER, WE REPORTED THAT AMOUNT FOR BALANCE SHEET PURPOSES. HOWEVER, THE ACTUAL LOAN BALANCE IS AS FOLLOWS:GREG WORTHEN - $3,728,736RICK RASMUSSON - $1,615,349KAREN HOEPPNER - $786,530JOHN DEBETTIGNIES - $1,364,045 FORM 990, PART VI, SECTION A, LINE 6 ELIGIBLE MEMBERSHIP OF MY CREDIT UNION CONSISTS OF PERSONS WHO LIVE IN, WORSHIP IN, ATTEND SCHOOL IN, WORK IN, OR VOLUNTEER IN AND BUSINESSES AND OTHER LEGAL ENTITIES LOCATED IN THE COUNTIES OF: HENNEPIN, DAKOTA, SCOTT COUNTIES, LESUEUR, CARVER AND RICE. IN ADDITION TO A REGULARLY QUALIFIED MEMBER, MEMBERS OF THE SAME HOUSEHOLD, THE SPOUSE OF A MEMBER, THE BLOOD OR ADOPTIVE RELATIVES OF EITHER AND THEIR SPOUSES MAY BE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A ALL MEMBERS IN GOOD STANDING AND AT LEAST 18 YEARS OLD RECEIVE ONE VOTE IN ANNUAL ELECTIONS OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B CFO AND FINANCIAL ACCOUNTING MANAGER FILL OUT THE FORMS AND THE CEO REVIEWS BEFORE SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD AND SENIOR MANAGERS ARE REQUIRED TO DISCLOSE ANY AFFILIATIONS IN A SIGNED DOCUMENT ANNUALLY. CONFLICT OF INTEREST POLICY IS INCLUDED IN THE EMPLOYEE HANDBOOK. FORM 990, PART VI, SECTION B, LINE 15 IN 2024, THE ORGANIZATION HAD ALL SALARIES, JOB DESCRIPTIONS AND POSITIONS EVALUATED BY A THIRD-PARTY ORGANIZATION. PERFORMANCE PRO IS A COMPREHENSIVE SALARY ADMINISTRATION TOOL WHICH INCORPORATES THE INDIVIDUAL JOB FUNCTIONS AND SCORES EACH FUNCTION TO CREATE POSITION GRADES. THESE GRADES ARE THEN COMPARED WITH SIMILAR POSITION GRADES, ON A LOCAL AND NATIONAL LEVEL TO CREATE POSITION SALARY RANGES. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION LOBBY. FORM 990, PART IX, LINE 11G PROFESSIONAL AND OUTSIDE SERVICES 465,819. DATA PROCESSING 1,876,642. FORM 990, PART XII, LINE 2B: AS ALLOWED BY STATE REGULATORY AUTHORITIES, THE AUDIT IS DONE AS OF JUNE 30. THE REPORTING PERIOD FOR THE AUDIT, THEREFORE, DOES NOT MATCH THE REPORTING PERIOD FOR FORM 990. MY CREDIT UNION FOUNDATION 9550 LYNDALE AVENUE SOUTH BLOOMINGTON MN 55420 848404361 MY CU COMMUNITY FOUNDATION FOCUSES SUPPORTING VETERANS AND STUDENTS. MN 501(C)(3) LINE 10 MY CREDIT UNION 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0