Nonprofit · EIN 41-0800081
NOVATION CREDIT UNION
Tax-exempt · OAKDALE, MN 55128
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $14,685,519 | $11,869,016 | $2,816,503 | $241,762,987 | $216,378,215 | $25,384,772 |
| December 31, 2024 | 990 | $13,474,710 | $10,934,887 | $2,539,823 | $232,490,083 | $210,130,995 | $22,359,088 |
| December 31, 2023 | 990 | $11,293,465 | $9,770,324 | $1,523,141 | $227,086,966 | $207,444,417 | $19,642,549 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $12,536,156
- Investment income
- $2,149,363
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $3,252,990
- Compensation of officers, directors and key employees
- $1,113,945
- Other salaries and wages
- $1,955,810
- Salaries, compensation and benefits (total)
- $3,921,479
- Professional fundraising fees
- $0
- Legal fees
- $1,428
- Accounting fees
- $101,084
- Occupancy
- $215,302
- Travel
- $98,295
- Depreciation
- $333,334
Balance sheet and other
- Total assets, start of year
- $232,490,083
- Total assets, end of year
- $241,762,987
- Total liabilities, end of year
- $216,378,215
- Net assets, end of year
- $25,384,772
- Land, buildings and equipment
- $2,030,506
- Gross unrelated business income
- $17,266
- Gross receipts
- $14,685,519
- Employees
- 39
- Volunteers
- 0
- Year formed
- 1954
- 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 |
|---|---|---|---|---|
| MIKE KRONEBUSCH | PRESIDENT/CEO Officer | 50 | $312,624 | $7,935 |
| TERRY KAHLE | VP OF FINANCE/CFO Officer | 50 | $279,193 | $17,384 |
| TYLER SACHE | VP OF MARKETING & STRATEGY Key employee | 50 | $196,490 | $1,635 |
| NICK ALTAVILLA | VP OF DIGITAL EXPERIENCE & OPERATIONS Officer | 50 | $131,958 | $7,691 |
| TODD BRANDEL | CHIEF LENDING OFFICER Officer | 50 | $111,591 | $25,244 |
| LOTI SCHAETZKA | DIRECTOR OF TECHNOLOGY Highest-paid employee | 50 | $112,559 | $19,574 |
| SARAH CARTER | DIRECTOR OF MEMBER EXPERIANCE Highest-paid employee | 50 | $106,561 | $16,527 |
| MARY EDINGER | BOARD CHAIR Trustee or director, Officer | 2 | $3,900 | $0 |
| MICHELLE NEPHEW | DIRECTOR Trustee or director | 2 | $3,900 | $0 |
| JOSEPH PAUL | DIRECTOR Trustee or director | 1 | $2,100 | $0 |
| JOHN SCHWALBACH | DIRECTOR Trustee or director | 1 | $2,100 | $0 |
| MATT JUHL | VICE CHAIR Trustee or director, Officer | 1 | $2,100 | $0 |
| DARYL THOENNES | DIRECTOR Trustee or director | 1 | $2,100 | $0 |
| DAN CARLSON | DIRECTOR Trustee or director | 1 | $2,100 | $0 |
| ROBERT KODY | DIRECTOR Trustee or director | 1 | $2,100 | $0 |
1 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ERDEM OLGUN | DIRECTOR Trustee or director | 1 | $1,800 |
990 for the year ended December 31, 2024: 18 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MIKE KRONEBUSCH | PRESIDENT/CEO Trustee or director, Officer | 50 | $260,587 | $15,468 |
| TERRY KAHLE | VP OF FINANCE/CFO Officer | 50 | $170,635 | $27,679 |
| TYLER SACHE | VP OF MARKETING & STRATEGY Key employee | 50 | $169,941 | $11,159 |
| NICK ALTAVILLA | VP OF DIGITAL EXPERIENCE & OPERATIONS Officer | 50 | $121,958 | $14,961 |
| KRISTI MUKOMELA | FORMER CEO (12/31/23) Former | 0 | $133,670 | $1,620 |
| LORI SCHAETZKA | DIRECTOR OF TECHNOLOGY Officer | 50 | $106,107 | $24,030 |
| TODD BRANDEL | CHIEF LENDING OFFICER Officer | 50 | $99,534 | $29,665 |
| JOSEPH PAUL | DIRECTOR Trustee or director | 1 | $1,200 | $0 |
| JOHN SCHWALBACH | DIRECTOR Trustee or director | 1 | $1,200 | $0 |
| WENDY BENSON | SECRETARY Trustee or director, Officer | 1 | $1,200 | $0 |
| MARY EDINGER | BOARD CHAIR Trustee or director, Officer | 2 | $1,200 | $0 |
| MATT JUHL | VICE CHAIR Trustee or director, Officer | 1 | $1,200 | $0 |
| DARYL THOENNES | DIRECTOR Trustee or director | 1 | $1,200 | $0 |
| DAN CARLSON | DIRECTOR Trustee or director | 1 | $1,200 | $0 |
| ROBERT KODY | DIRECTOR Trustee or director | 1 | $900 | $0 |
| MICHELLE NEPHEW | DIRECTOR Trustee or director | 2 | $900 | $0 |
| SHAWN SCHOW | DIRECTOR Trustee or director | 1 | $400 | $0 |
| DAWN MCGINLEY | CHAIR Trustee or director, Officer | 1 | $400 | $0 |
990 for the year ended December 31, 2023: 14 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KRISTI MUKOMELA | PRESIDENT/CEO Officer | 50 | $267,082 | $20,636 |
| MIKE KRONEBUSCH | EVP OF STRATEGY Trustee or director, Officer | 50 | $194,475 | $18,016 |
| TERRY KAHLE | VP OF FINANCE/CFO Officer | 50 | $165,978 | $26,506 |
| NICK ALTAVILLA | VP OF OPERATIONS/COO Officer | 50 | $117,744 | $14,600 |
| SCOTT HENNING | VP OF MARKETING/CMO Officer | 50 | $104,475 | $13,353 |
| MARY EDINGER | DIRECTOR Trustee or director | 1 | $1,200 | $0 |
| DAN CARLSON | DIRECTOR Trustee or director | 1 | $1,200 | $0 |
| DARYL THOENNES | DIRECTOR Trustee or director | 1 | $1,200 | $0 |
| DAWN MCGINLEY | CHAIR Trustee or director, Officer | 1 | $1,200 | $0 |
| JOHN SCHWALBACH | DIRECTOR Trustee or director | 1 | $1,200 | $0 |
| MATT JUHL | DIRECTOR Trustee or director | 1 | $1,200 | $0 |
| SHAWN SCHOW | DIRECTOR Trustee or director | 1 | $1,200 | $0 |
| JOSEPH PAUL | DIRECTOR Trustee or director | 1 | $1,200 | $0 |
| WENDY BENSON | DIRECTOR Trustee or director | 1 | $1,200 | $0 |
Address and contacts
- Address (IRS master file)
- 500 IMPERIAL AVE N, OAKDALE, MN 55128-7151
- Principal officer (990 for 2025)
- TERRY KAHLE, 500 IMPERIAL AVE, OAKDALE, MN 551287151
- Signed the 990
- TERRY KAHLE, SVP/CFO
- Phone
- (651) 739-8080
- Website
- WWW.NOVATION.ORG
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
TO OFFER PERSONALIZED FINANCIAL SOLUTIONS EXCLUSIVELY TO 3M EMPLOYEES, MCLEOD COUNTY, SOLVENTUM EMPLOYEES, WASHINGTON COUNTY, AND NOVATION CREDIT UNION FOUNDATION DONORS AND THEIR FAMILIES.
Program accomplishments
- LENDING:PROVIDE VEHICLE, REAL ESTATE, STUDENT, VISA AND OTHER LOANS TO 14,500 MEMBER OWNERS.
- SAVINGS:PROVIDE CHECKING AND SAVINGS PRODUCTS INCLUDING ATM, DEBIT CARDS, DIRECT DEPOSIT, ONLINE BANKING, ACH AND MOBILE PAYMENTS TO 14,500 MEMBER OWNERS.
- INVESTMENT:PROVIDE COMPETITIVE SAVINGS AND INVESTMENT OPPORTUNITIES AND RETIREMENT PLANNING SERVICES TO MEMBER OWNERS.
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
- 41-0800081
- 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)
- $241,762,987
- Income (IRS master file)
- $14,685,519
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $14,685,519 | $11,869,016 | $241,762,987 | XML |
| 990 | December 2024 | $13,474,710 | $10,934,887 | $232,490,083 | IRS |
| 990 | December 2023 | $11,293,465 | $9,770,324 | $227,086,966 | XML |
| 990 | December 2022 | $9,264,760 | $7,323,942 | $224,719,719 | 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 41-0800081).
Questions about NOVATION CREDIT UNION
- What is the EIN of NOVATION CREDIT UNION?
- The employer identification number (EIN) of NOVATION CREDIT UNION is 41-0800081.
- Is NOVATION CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1944.
- Are donations to NOVATION CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does NOVATION 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 NOVATION 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 NOVATION 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 NOVATION CREDIT UNION?
- The 990 for the year ended December 31, 2025 names TERRY KAHLE.
- Who are the officers and directors of NOVATION CREDIT UNION?
- The 990 for the year ended December 31, 2025 lists 16 people; 16 received compensation from the organization, the highest $312,624 (MIKE KRONEBUSCH, PRESIDENT/CEO).
- How much revenue does NOVATION CREDIT UNION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $14,685,519, expenses of $11,869,016 and total assets of $241,762,987 at year end.
Other nonprofits in OAKDALE
- CANVAS HEALTH INC EIN 41-0955577 · last filed 990 for 2025
- CHRISTIAN CUPBOARD EMERGENCY FOOD SHELF EIN 36-3298764 · last filed 990 for 2025
- OAK MEADOWS EIN 41-1823545 · last filed 990 for 2024
- PROTEZ FOUNDATION EIN 88-2437069 · last filed 990 for 2024
- CAMP ODAYIN EIN 41-2014358 · last filed 990 for 2025
- CANCER LEGAL CARE EIN 02-0736402 · last filed 990 for 2025
- THE OAKDALE ATHLETIC ASSOCIATION INC EIN 41-1352226 · last filed 990 for 2025
- CAROL MATHEYS CENTER FOR CHILDREN AND FAMILIES INC EIN 41-1647445 · last filed 990 for 2025