Nonprofit · EIN 41-0226825
HARBOR POINTE CREDIT UNION
Also known as American Association of University women
Tax-exempt · DULUTH, MN 55802
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $8,293,734 | $6,423,192 | $1,870,542 | $152,373,124 | $132,097,485 | $20,275,639 |
| December 31, 2024 | 990 | $7,586,329 | $5,824,763 | $1,761,566 | $143,997,706 | $125,977,411 | $18,020,295 |
| December 31, 2023 | 990 | $6,824,977 | $5,353,089 | $1,471,888 | $146,163,101 | $130,292,859 | $15,870,242 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $7,674,731
- Investment income
- $619,003
- Net gain from sales of assets
- -$35,692
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $5,000
- Benefits paid to members
- $1,216,761
- Compensation of officers, directors and key employees
- $542,771
- Other salaries and wages
- $1,489,173
- Salaries, compensation and benefits (total)
- $2,430,476
- Professional fundraising fees
- $0
- Accounting fees
- $21,600
- Occupancy
- $328,614
- Travel
- $15,048
- Depreciation
- $161,217
Balance sheet and other
- Total assets, start of year
- $143,997,706
- Total assets, end of year
- $152,373,124
- Total liabilities, end of year
- $132,097,485
- Net assets, end of year
- $20,275,639
- Land, buildings and equipment
- $1,525,952
- Publicly traded securities
- $7,835,292
- Gross unrelated business income
- $15,433
- Gross receipts
- $8,380,497
- Employees
- 32
- Volunteers
- 10
- Year formed
- 1933
- State of legal domicile
- MN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Lisa Herstad | CEO Officer | 40 | $209,546 | $13,200 |
| Beth Waksdahl | VP of Operations Officer | 40 | $147,591 | $12,460 |
| James Lundberg | VP Lending Officer | 40 | $146,875 | $13,099 |
| Kyle Hanson | Information Systems Manager Highest-paid employee | 40 | $112,288 | $6,722 |
| Polly John | Board Chair Trustee or director | 0.5 | $0 | $0 |
| Lisa Mitchell Krocak | Board Vice Chair Trustee or director | 0.5 | $0 | $0 |
| Mike Fisher | Board Member Trustee or director | 0.5 | $0 | $0 |
| Merry Wallin | Board Member Trustee or director | 0.5 | $0 | $0 |
| Eddie Crawford | Board Member Trustee or director | 0.5 | $0 | $0 |
| J Earl Grano | Board Member Trustee or director | 0.5 | $0 | $0 |
| Christian Koelling | Board Member Trustee or director | 0.5 | $0 | $0 |
990 for the year ended December 31, 2024: 11 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Lisa Herstad | CEO Officer | 40 | $214,069 | $22,617 |
| Beth Waksdahl | VP of Operations Officer | 40 | $144,585 | $24,816 |
| James Lundberg | VP Lending Officer | 40 | $137,699 | $22,561 |
| Kyle Hanson | Information Systems Manager Highest-paid employee | 40 | $109,649 | $7,715 |
| Polly John | Board Chair Trustee or director | 0.5 | $0 | $0 |
| Lisa Mitchell Krocak | Board Vice Chair Trustee or director | 0.5 | $0 | $0 |
| Mike Fisher | Board Member Trustee or director | 0.5 | $0 | $0 |
| Merry Wallin | Board Member Trustee or director | 0.5 | $0 | $0 |
| Eddie Crawford | Board Member Trustee or director | 0.5 | $0 | $0 |
| J Earl Grano | Board Member Trustee or director | 0.5 | $0 | $0 |
| Christian Koelling | Board Member Trustee or director | 0.5 | $0 | $0 |
990 for the year ended December 31, 2023: 11 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Rick Lappi | CEO for part of 2023 Highest-paid employee | 40 | $217,393 | $29,899 |
| Lisa Herstad | Former EVP/Current CEO Officer | 40 | $167,369 | $10,670 |
| James Lundberg | VP Lending Officer | 40 | $123,551 | $9,512 |
| Beth Waksdahl | VP of Operations Key employee | 40 | $123,858 | $8,350 |
| Polly John | Board Chair Trustee or director | 2 | $0 | $0 |
| Lisa Mitchell Krocak | Board Vice Chair Trustee or director | 2 | $0 | $0 |
| Mike Fisher | Board Member Trustee or director | 2 | $0 | $0 |
| Merry Wallin | Board Member Trustee or director | 2 | $0 | $0 |
| Eddie Crawford | Board Member Trustee or director | 2 | $0 | $0 |
| J Earl Grano | Board Member Trustee or director | 2 | $0 | $0 |
| Christian Koelling | Board Member Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 11 W 2ND ST, DULUTH, MN 55802-2014
- Mailing address (990-N for 2008)
- 11 W Second Street, Duluth MN 55802
- Principal officer (990 for 2025)
- Lisa Herstad, 11 W 2nd Street, Duluth, MN 55802
- Principal officer (990-N for 2008)
- Judith Rudman, 5402 Glenwood Street, Duluth MN 55804
- Signed the 990
- Lisa Herstad, President
- Phone
- (218) 722-9242
- Website
- www.hpcu.us
Mission
To meet the borrowing, saving, and investment needs of its members by providing the financial services desired. Members save and borrow from each other.Credit Union Members save and borrow from each other.
Program accomplishments
- Loan Servicing and Visa Program Expenses
- Debit ATM card program expenses
- Draft Account program expenses
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 41-0226825
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1944
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Group exemption
- 0708: CREDIT UNIONS IN THE STATE OF MINNESOTA
- Assets (IRS master file)
- $152,373,124
- Income (IRS master file)
- $8,380,497
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $8,293,734 | $6,423,192 | $152,373,124 | IRS |
| 990 | December 2024 | $7,586,329 | $5,824,763 | $143,997,706 | IRS |
| 990 | December 2023 | $6,824,977 | $5,353,089 | $146,163,101 | XML |
| 990 | December 2022 | $5,734,343 | $4,585,398 | $152,867,431 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990-N for 2008 Officer: Judith Rudman | December 31, 2008 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 41-0226825).
Questions about HARBOR POINTE CREDIT UNION
- What is the EIN of HARBOR POINTE CREDIT UNION?
- The employer identification number (EIN) of HARBOR POINTE CREDIT UNION is 41-0226825.
- Is HARBOR POINTE CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1944.
- Are donations to HARBOR POINTE CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does HARBOR POINTE CREDIT UNION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of HARBOR POINTE CREDIT UNION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did HARBOR POINTE CREDIT UNION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of HARBOR POINTE CREDIT UNION?
- The 990 for the year ended December 31, 2025 names Lisa Herstad.
- Who are the officers and directors of HARBOR POINTE CREDIT UNION?
- The 990 for the year ended December 31, 2025 lists 11 people; 4 received compensation from the organization, the highest $209,546 (Lisa Herstad, CEO).
- How much revenue does HARBOR POINTE CREDIT UNION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $8,293,734, expenses of $6,423,192 and total assets of $152,373,124 at year end.
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