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Nonprofit · EIN 41-0738787

ASSOCIATED HEALTHCARE CREDIT UNION

Also known as FORD ROAD MEDICAL CENTER

Tax-exempt · WOODBURY, MN 55125

Financials

$7.6M$5.7M2023$8.8M$7.2M2024
Revenue Expenses · by fiscal year end
Financials of ASSOCIATED HEALTHCARE CREDIT UNION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$8,823,252$7,155,677$1,667,575$162,580,704$142,412,697$20,168,007
December 31, 2023990$7,645,894$5,739,681$1,906,213$156,518,551$138,310,138$18,208,413
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$7,857,354
Investment income
$965,898
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Benefits paid to members
$1,948,742
Compensation of officers, directors and key employees
$319,669
Other salaries and wages
$1,372,355
Salaries, compensation and benefits (total)
$1,989,629
Professional fundraising fees
$0
Accounting fees
$49,739
Occupancy
$232,596
Travel
$27,866
Depreciation
$82,877

Balance sheet and other

Total assets, start of year
$156,518,551
Total assets, end of year
$162,580,704
Total liabilities, end of year
$142,412,697
Net assets, end of year
$20,168,007
Land, buildings and equipment
$1,546,907
Gross unrelated business income
$7,059
Gross receipts
$8,823,252
Employees
31
Volunteers
0
Year formed
1953
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.

NameTitleHours / weekCompensationOther / benefits
THERESA MALONECEO
Officer
40$270,070$45,899
CHEE LEEEXECUTIVE DIRECTOR OF FINANCE
Highest-paid employee
40$160,624$16,827
JULIE CASHEXECUTIVE DIRECTOR OF BRANCH OPERATIONS
Highest-paid employee
40$144,759$30,956
MELISSA GARCIAEXECUTIVE DIRECTOR OF BRANCH SERVICES
Highest-paid employee
40$100,579$5,679
PATTI ELLIOT-ALLENVICE CHAIR
Trustee or director, Officer
1$600$0
KATINA MCDUGLEDIRECTOR
Trustee or director
1$600$0
CANDICE WASHINGTONDIRECTOR
Trustee or director
1$600$0
JOE CLUBBCHAIR
Trustee or director, Officer
1$550$0
CORRINE KROEHLERDIRECTOR
Trustee or director
1$550$0
MICHAEL NASSDIRECTOR
Trustee or director
1$450$0
LINDA ZDONSECRETARY
Trustee or director, Officer
1$350$0
990 for the year ended December 31, 2023: 12 people
NameTitleHours / weekCompensationOther / benefits
THERESA MALONECEO
Officer
40$243,765$46,699
ANDREW RIHMCOO/VP LENDING
Officer
40$173,883$16,502
CHEE LEEEXECUTIVE DIRECTOR OF FINANCE
Highest-paid employee
40$139,252$15,584
JULIE CASHEXECUTIVE DIRECTOR OF BRANCH OPERATIONS
Highest-paid employee
40$113,779$25,815
PATTI ELLIOT-ALLENVICE CHAIR
Trustee or director, Officer
1$550$0
KATINA MCDUGLEDIRECTOR
Trustee or director, Officer
1$550$0
MICHAEL NASSDIRECTOR
Trustee or director
1$500$0
CANDICE WASHINGTONDIRECTOR
Trustee or director
1$425$0
CORRINE KROEHLERDIRECTOR
Trustee or director
1$400$0
JOE CLUBBCHAIR
Trustee or director, Officer
1$375$0
LINDA ZDONSECRETARY
Trustee or director, Officer
1$350$0
THOMAS GAVINSKIDIRECTOR
Trustee or director
1$25$0

Address and contacts

Address (IRS master file)
6789 UPPER AFTON RD, WOODBURY, MN 55125-2154
Principal officer (990 for 2024)
THERESA MALONE, 6789 UPPER AFTON RD, WOODBURY, MN 55125
Signed the 990
CHEE LEE, EXECUTIVE DIRECTOR OF FINANCE
Phone
(651) 383-4000
Return prepared by
CLIFTONLARSONALLEN LLP

Mission

TO PROVIDE LENDING, SAVINGS AND OTHER FINANCIAL SERVICES TO ITS QUALIFYING MEMBERS AT TERMS GENERALLY BETTER THAN AVAILABLE IN THE MARKETPLACE AND WITH A "SERVICE-BASED EMPHASIS" THAT RECOGNIZES THE MEMBERS' STATUS AS "OWNERS".

990 for the year ended December 31, 2024

Program accomplishments

  • THE CREDIT UNION PROVIDES A VARIETY OF DEPOSITORY SERVICES TO OUR MEMBERSHIP. WE HAD 12,457 MEMBER ACCOUNTS WITH DEPOSITS OF $141,859,397 AS OF DECEMBER 31, 2024.
  • THE CREDIT UNION PROVIDES A VARIETY OF LENDING SERVICES TO OUR MEMBERSHIP. WE HAD 8,135 LOANS OUTSTANDING AS OF DECEMBER 31, 2024 WITH BALANCES OF $125,233,577.
  • THE CREDIT UNION PROVIDES ACCESS TO MEMBERS TO THEIR ACCOUNTS VIA ELECTRONIC BANKING, ATM NETWORK, SHARED BRANCHING, AND IN PERSON.

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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
41-0738787
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
Assets (IRS master file)
$162,580,704
Income (IRS master file)
$8,823,252

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$8,823,252$7,155,677$162,580,704IRS
990December 2023$7,645,894$5,739,681$156,518,551XML
990December 2022$6,129,567$4,577,618$159,447,035IRS
990December 2021–––IRS
990December 2020–––IRS
990December 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 41-0738787).

Questions about ASSOCIATED HEALTHCARE CREDIT UNION

What is the EIN of ASSOCIATED HEALTHCARE CREDIT UNION?
The employer identification number (EIN) of ASSOCIATED HEALTHCARE CREDIT UNION is 41-0738787.
Is ASSOCIATED HEALTHCARE CREDIT UNION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1944.
Are donations to ASSOCIATED HEALTHCARE CREDIT UNION tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does ASSOCIATED HEALTHCARE 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 ASSOCIATED HEALTHCARE CREDIT UNION 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 ASSOCIATED HEALTHCARE CREDIT UNION 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 ASSOCIATED HEALTHCARE CREDIT UNION?
The 990 for the year ended December 31, 2024 names THERESA MALONE.
Who are the officers and directors of ASSOCIATED HEALTHCARE CREDIT UNION?
The 990 for the year ended December 31, 2024 lists 11 people; 11 received compensation from the organization, the highest $270,070 (THERESA MALONE, CEO).
How much revenue does ASSOCIATED HEALTHCARE CREDIT UNION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $8,823,252, expenses of $7,155,677 and total assets of $162,580,704 at year end.

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