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Nonprofit · EIN 41-0824021

MY CREDIT UNION

Tax-exempt · BLOOMINGTON, MN 55420

Financials

$18.7M$16.6M2023$19.1M$18.4M2024
Revenue Expenses · by fiscal year end
Financials of MY CREDIT UNION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$19,141,834$18,447,257$694,577$376,551,920$341,399,769$35,152,151
December 31, 2023990$18,658,180$16,577,395$2,080,785$386,343,958$352,011,648$34,332,310
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$18,367,579
Investment income
$305,073
Net gain from sales of assets
-$97,271
Other revenue
$469,182

Expenses

Grants and similar amounts paid
$0
Benefits paid to members
$2,258,514
Compensation of officers, directors and key employees
$1,835,822
Other salaries and wages
$3,775,394
Salaries, compensation and benefits (total)
$7,286,201
Professional fundraising fees
$0
Legal fees
$26,945
Accounting fees
$12,717
Occupancy
$750,623
Travel
$106,688
Depreciation
$945,181

Balance sheet and other

Total assets, start of year
$386,343,958
Total assets, end of year
$376,551,920
Total liabilities, end of year
$341,399,769
Net assets, end of year
$35,152,151
Land, buildings and equipment
$16,307,261
Gross unrelated business income
$103,461
Gross receipts
$19,315,218
Employees
103
Volunteers
13
Year formed
1957
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
GREG WORTHENPRESIDENT
Officer
40$454,385$39,908
RICK RASMUSSONCHIEF FINANCIAL OFFICER
Officer
40$230,664$27,533
KAREN HOEPPNERVICE PRESIDENT, LENDING
Officer
40$208,923$11,986
PIERRE MERLINVICE PRESIDENT, IT
Officer
40$202,112$15,097
JOHN DEBETTIGNIESVICE PRESIDENT, MEMBER SER
Officer
40$191,845$11,436
CHRISTOPHER GUARNERAVP OF COMMERCIAL SERVICES
Highest-paid employee
40$138,269$29,245
JULIE PRIBBLEVICE PRESIDENT, HR
Officer
40$140,007$23,958
TODD BARDUSONVICE PRESIDENT, MARKETING
Officer
40$143,992$13,718
BRADEN WELCHDIRECTOR OF IT
Highest-paid employee
40$120,259$14,986
TERRY STIREWALTVICE PRESIDENT, COMMERCIAL
Officer
40$113,214$7,044
JAMES HABECKCHAIRMAN
Trustee or director, Officer
1$0$0
JOHN SUAREZVICE CHAIRMAN
Trustee or director, Officer
1$0$0
SCOTT HOFFHINESTREASURER
Trustee or director, Officer
1$0$0
TERESA KRUSESECRETARY
Trustee or director
1$0$0
DYLAN KLOPPDIRECTOR
Trustee or director
1$0$0
4 more people on this return
NameTitleHours / weekCompensation
JIM MCDONALDDIRECTOR
Trustee or director
1$0
SUSAM ROSENBERGDIRECTOR'
Trustee or director
1$0
LUANN WERNERDIRECTOR
Trustee or director
1$0
LYNNE SCHERERDIRECTOR
Trustee or director
1$0
990 for the year ended December 31, 2023: 16 people
NameTitleHours / weekCompensationOther / benefits
GREG WORTHENPRESIDENT
Officer
40$436,196$33,418
RICK RASMUSSONCHIEF FINANCIAL OFFICER
Officer
40$231,045$30,021
KAREN HOEPPNERVICE PRESIDENT, LENDING
Officer
40$197,047$11,413
PIERRE MERLINVICE PRESIDENT, IT
Officer
40$175,264$13,628
JOHN DEBETTIGNIESVICE PRESIDENT, MEMBER SER
Officer
40$170,861$9,086
TODD BARDUSONVICE PRESIDENT, MARKETING
Officer
40$141,013$14,484
TERRY STIREWALTVICE PRESIDENT, COMMERCIAL
Officer
40$124,401$7,067
JAMES HABECKCHAIRMAN
Trustee or director, Officer
1$0$0
JOHN SUAREZVICE CHAIRMAN
Trustee or director, Officer
1$0$0
SCOTT HOFFHINESTREASURER
Trustee or director, Officer
1$0$0
TERESA KRUSESECRETARY
Trustee or director, Officer
1$0$0
DYLAN KLOPPDIRECTOR
Trustee or director
1$0$0
JIM MCDONALDDIRECTOR
Trustee or director
1$0$0
SUSAN ROSENBERGDIRECTOR
Trustee or director
1$0$0
LUANN WERNERDIRECTOR
Trustee or director
1$0$0
LYNNE SCHERERDIRECTOR
Trustee or director
1$0$0

Address and contacts

Address (IRS master file)
9550 LYNDALE AVE S, BLOOMINGTON, MN 55420-4229
Principal officer (990 for 2024)
GREG WORTHEN, 9550 LYNDALE AVENUE SOUTH, BLOOMINGTON, MN 55420
Signed the 990
GREG WORTHEN, PRESIDENT
Phone
(612) 798-7100
Return prepared by
CLIFTONLARSONALLEN LLP

Mission

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.

990 for the year ended December 31, 2024

Program accomplishments

  • 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.

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
41-0824021
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)
$376,551,920
Income (IRS master file)
$19,315,218

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$19,141,834$18,447,257$376,551,920XML
990December 2023$18,658,180$16,577,395$386,343,958XML
990December 2022$18,120,740$15,133,709$399,653,229IRS
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 41-0824021).

Questions about MY CREDIT UNION

What is the EIN of MY CREDIT UNION?
The employer identification number (EIN) of MY CREDIT UNION is 41-0824021.
Is MY CREDIT UNION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1944.
Are donations to MY CREDIT UNION tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does MY 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 MY 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 MY 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 MY CREDIT UNION?
The 990 for the year ended December 31, 2024 names GREG WORTHEN.
Who are the officers and directors of MY CREDIT UNION?
The 990 for the year ended December 31, 2024 lists 19 people; 10 received compensation from the organization, the highest $454,385 (GREG WORTHEN, PRESIDENT).
How much revenue does MY CREDIT UNION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $19,141,834, expenses of $18,447,257 and total assets of $376,551,920 at year end.

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