Nonprofit · EIN 41-0693272
CO-OP CREDIT UNION OF MONTEVIDEO
Tax-exempt · MONTEVIDEO, MN 56265
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $20,157,881 | $15,732,673 | $4,425,208 | $374,479,158 | $318,527,570 | $55,951,588 |
| December 31, 2023 | 990 | $16,954,154 | $12,703,146 | $4,251,008 | $359,049,095 | $307,522,715 | $51,526,380 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $17,620,073
- Investment income
- $2,537,808
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $7,108,806
- Compensation of officers, directors and key employees
- $1,148,783
- Other salaries and wages
- $2,372,988
- Salaries, compensation and benefits (total)
- $4,309,673
- Professional fundraising fees
- $0
- Legal fees
- $6,455
- Occupancy
- $240,492
- Depreciation
- $380,907
Balance sheet and other
- Total assets, start of year
- $359,049,095
- Total assets, end of year
- $374,479,158
- Total liabilities, end of year
- $318,527,570
- Net assets, end of year
- $55,951,588
- Land, buildings and equipment
- $6,758,900
- Net assets without donor restrictions
- $55,951,588
- Gross unrelated business income
- $19,161
- Gross receipts
- $20,157,881
- Employees
- 83
- Volunteers
- 0
- Year formed
- 1940
- 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, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KAYLA REIFFENBERGER | PRESIDENT/CEO Officer | 40 | $281,926 | $94,672 |
| DANIEL PIEPER | CHIEF CREDIT OFFICER Key employee | 40 | $171,685 | $39,545 |
| ANNA SPRAY | CFO Highest-paid employee | 40 | $128,194 | $27,466 |
| LOREN HANSEN | LOAN OFFICER Highest-paid employee | 40 | $121,118 | $31,086 |
| Ryan Epema | Loan Officer Highest-paid employee | 40 | $100,422 | $31,519 |
| CHERI HUGHES | Branch Manager/Loan Officer Highest-paid employee | 40 | $106,646 | $9,048 |
| PETER SCHMITZ | SECRETARY Trustee or director | 0 | $728 | $0 |
| MARK TASTAD | BOARD OFFICER Trustee or director | 0 | $635 | $0 |
| JASON FRENCH | CHAIRPERSON Trustee or director | 0 | $625 | $0 |
| KYLE KRANZ | BOARD MEMBER Trustee or director | 0 | $613 | $0 |
| DIANE DIETER | VICE CHAIRPERSON Trustee or director | 0 | $575 | $0 |
| JENNIFER STRYHN | BOARD MEMBER Trustee or director | 0 | $570 | $0 |
| BARB PEDERSON | SUPERVISORY CHAIRPERSON Trustee or director | 0 | $428 | $0 |
| PATRICK CARRUTH | BOARD MEMBER Trustee or director | 0 | $353 | $0 |
| AARON JAENISCH | SUPERVISORY MEMBER Trustee or director | 0 | $228 | $0 |
1 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RONDA OLSON | SUPERVISORY MEMBER Trustee or director | 0 | $203 |
990 for the year ended December 31, 2023: 16 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KAYLA REIFFENBERGER | PRESIDENT/CEO Officer | 40 | $256,699 | $84,793 |
| DANIEL PIEPER | CHIEF CREDIT OFFICER Key employee | 40 | $159,744 | $36,273 |
| LOREN HANSEN | LOAN OFFICER Highest-paid employee | 40 | $116,663 | $28,939 |
| SUSAN HILLEREN | COO Highest-paid employee | 40 | $109,258 | $30,914 |
| ANNA SPRAY | CFO Key employee | 40 | $114,487 | $9,633 |
| CHERI HUGHES | Branch Manager/Loan Officer Highest-paid employee | 40 | $102,899 | $8,102 |
| KYLE KRANZ | BOARD MEMBER Trustee or director | 0 | $750 | $0 |
| PETER SCHMITZ | SECRETARY Trustee or director | 0 | $611 | $0 |
| BARB PEDERSON | SUPERVISORY CHAIRPERSON Trustee or director | 0 | $568 | $0 |
| JASON FRENCH | CHAIRPERSON Trustee or director | 0 | $550 | $0 |
| PATRICK CARRUTH | BOARD MEMBER Trustee or director | 0 | $510 | $0 |
| MARK TASTAD | BOARD OFFICER Trustee or director | 0 | $490 | $0 |
| DIANE DIETER | VICE CHAIRPERSON Trustee or director | 0 | $473 | $0 |
| AARON JAENISCH | SUPERVISORY MEMBER Trustee or director | 0 | $335 | $0 |
| JENNIFER STRYHN | BOARD MEMBER Trustee or director | 0 | $320 | $0 |
| RONDA OLSON | SUPERVISORY MEMBER Trustee or director | 0 | $230 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 447, MONTEVIDEO, MN 56265-0447
- In care of
- % KAYLA RIEFFENBERGER
- Principal officer (990 for 2024)
- KAYLA REIFFENBERGER, 2407 E HWY 7 PO BOX 447, MONTEVIDEO, MN 56265
- Signed the 990
- Kayla Reiffenberger, President/CEO
- Phone
- (320) 269-2117
- Website
- WWW.CO-OPCREDITUNION.COM
Mission
THE CREDIT UNION PROVIDES FINANCIAL SERVICES, INVESTMENT OPTIONS, AND LOANS FOR APPOXIMATELY 17,200 MEMBERS IN WEST CENTRAL MINNESOTA. THE CREDIT UNION HAS LOCATIONS IN MONTEVIDEO, BENSON, CANBY AND WILLMAR.
Program accomplishments
- THE CREDIT UNION PROVIDES FINANCIAL SERVICES, INVESTEMENT OPTIONS, AND LOANS FOR APPROXIMATELY 17,200 MEMBERS IN WEST CENTRAL MINNESOTA. THE CREDIT UNION HAS LOCATIONS IN MONTEVIDEO, BENSON, CANBY AND WILLMAR.
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 | Not 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
- 41-0693272
- 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)
- $374,479,158
- Income (IRS master file)
- $20,157,881
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $20,157,881 | $15,732,673 | $374,479,158 | XML |
| 990 | December 2023 | $16,954,154 | $12,703,146 | $359,049,095 | XML |
| 990 | December 2022 | $13,722,372 | $9,240,563 | $359,509,912 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
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 41-0693272).
Questions about CO-OP CREDIT UNION OF MONTEVIDEO
- What is the EIN of CO-OP CREDIT UNION OF MONTEVIDEO?
- The employer identification number (EIN) of CO-OP CREDIT UNION OF MONTEVIDEO is 41-0693272.
- Is CO-OP CREDIT UNION OF MONTEVIDEO tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1944.
- Are donations to CO-OP CREDIT UNION OF MONTEVIDEO tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does CO-OP CREDIT UNION OF MONTEVIDEO 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 CO-OP CREDIT UNION OF MONTEVIDEO due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CO-OP CREDIT UNION OF MONTEVIDEO last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of CO-OP CREDIT UNION OF MONTEVIDEO?
- The 990 for the year ended December 31, 2024 names KAYLA REIFFENBERGER.
- Who are the officers and directors of CO-OP CREDIT UNION OF MONTEVIDEO?
- The 990 for the year ended December 31, 2024 lists 16 people; 16 received compensation from the organization, the highest $281,926 (KAYLA REIFFENBERGER, PRESIDENT/CEO).
- How much revenue does CO-OP CREDIT UNION OF MONTEVIDEO have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $20,157,881, expenses of $15,732,673 and total assets of $374,479,158 at year end.
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