2024-11-19T09:44:24-06:00 2024-07-31 390758449 WIPFLI LLP 1502 LONDON ROAD SUITE 200 DULUTH MN 55812 990 2024-01-01 416036540 ANOKA HENNEPIN CREDIT UNION ANOK 7634220290 3505 NORTHDALE BLVD NW COON RAPIDS MN 554486742 THERESA TOSTENGARD SVP - GENERAL COUNSEL 7634220290 2024-11-18 1 1 MICHAEL J PETERSON CPA P01833529 2187224705 2024-11-18 2023 2024-10-15 13:58:12Z X JEFFREY CLAUSSEN 3505 NORTHDALE BLVD NW COON RAPIDS MN 554486742 8135066 0 X WWW.AHCU.COOP X 1963 MN MEMBERS HELPING MEMBERS IN A COMMUNITY-BASED, NOT-FOR-PROFIT ORGANIZATION, WITH THE GOAL OF BECOMING OUR MEMBERS' PRIMARY FINANCIAL INSTITUTION; PROTECTING MEMBERS' ASSETS AND PROVIDING PERSONAL, CONVENIENT, AND COMPETITIVE SERVICES. X 7 7 0 10 36656 0 0 0 11108181 7153382 1889043 977384 0 0 12997224 8130766 0 7161 0 0 5735097 3676936 0 0 0 5723590 4383060 11458687 8067157 1538537 63609 278823571 0 254226892 0 24596679 0 X MEMBERS HELPING MEMBERS IN A COMMUNITY-BASED, NOT-FOR-PROFIT ORGANIZATION, WITH THE GOAL OF BECOMING OUR MEMBERS' PRIMARY FINANCIAL INSTITUTION; PROTECTING MEMBERS' ASSETS AND PROVIDING PERSONAL, CONVENIENT, AND COMPETITIVE SERVICES. 0 1 MEMBERSHIP - ANOKA HENNEPIN CREDIT UNION SERVED THE FINANCIAL NEEDS OF 18,727 MEMBERS. AN AVERAGE OF 5.81 PRODUCTS AND SERVICES WERE USED PER MEMBER AS OF JULY 31, 2024. SAVINGS - ANOKA HENNEPIN CREDIT UNION PROVIDED 35,832 SAVINGS PRODUCTS TO MEMBERS. THIS INCLUDES SHARE ACCOUNTS, SHARE DRAFT ACCOUNTS, IRAS, SHARE CERTIFICATES, AND MONEY MARKET ACCOUNTS. LOANS - ANOKA HENNEPIN CREDIT UNION PROVIDED 9,121 LOAN PRODUCTS TO MEMBERS, INCLUDING REAL ESTATE, VEHICLE, OTHER SECURED, UNSECURED, AND CREDIT CARD LOANS. OTHER PROGRAM SERVICES -ANOKA HENNEPIN CREDIT UNION ALSO PROVIDED OTHER SERVICES TO ITS MEMBERS LIKE BILL PAYMENT, DEBIT CARDS, E-STATEMENTS, ONLINE BANKING, MOBILE BANKING, MOBILE CHECK DEPOSIT, TELEPHONE BANKING, INSURANCE PRODUCTS, AND SAFE DEPOSIT BOXES. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 1 0 0 1 1 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X X MARTIN WALIGORA CFO 7634220290 3505 NORTHDALE BLVD NW COON RAPIDS MN 554486742 X TERRY ANDERSON CHAIRPERSON 1.00 1.00 X 960 0 0 STACY GERRETY VICE CHAIRPERSON 1.00 X 720 0 0 TODD PROULX SECRETARY 1.00 X 880 0 0 JAMES CALDWELL DIRECTOR 1.00 X 770 0 0 JIM GAFFNEY DIRECTOR 1.00 X 770 0 0 DR PATRICK NAPOLI DIRECTOR 1.00 X 560 0 0 MARK UNDIS DIRECTOR 1.00 1.00 X 490 0 0 JEFFREY CLAUSSEN PRESIDENT & CEO 40.00 1.00 X 294751 0 23640 MARTIN WALIGORA VP OF FINANCE & CFO 40.00 X 156194 0 14074 RICK GONNERMAN CIO 40.00 X 146343 0 12504 THERESA TOSTENGARD SVP - GENERAL COUNSEL 32.00 X 163190 0 21521 CHRIS OLSEN VP LENDING 40.00 X 123520 0 7320 HEATHER HERNANDEZ VIVEROS VP HUMAN RESOURCES 40.00 X 110598 0 7431 999746 0 86490 6 0 1 0 CORELATION INC 2305 HISTORIC DECATUR RD SAN DIEGO CA 92106 ACCCOUNTING SOFTWARE 145408 1 INTEREST ON LOANS 522100 5368931 5368931 DEBIT AND CREDIT CARD 522100 844667 844667 FEE INCOME 522100 822929 786273 36656 COMMISSION INCOME 522100 103510 103510 13345 13345 7153382 977724 977724 3960 4300 -340 -340 -340 8130766 7116726 36656 977384 7161 844686 2161770 205374 240443 224663 109319 11758 155892 126429 286680 708917 268898 1118 27547 250883 47185 DIVIDENDS ON MEMBER SHA 1355507 DEBIT & CREDIT CARD EXP 419627 LOAN SERVICING EXPENSE 291083 CREDIT LOSS EXPENSE 266185 56032 8067157 3031694 0 2741332 0 0 1435500 0 2018959 0 0 160626993 0 0 200567 0 0 0 5676191 0 73457793 0 22401624 0 0 0 7232918 0 278823571 0 2434688 0 6944 0 251785260 0 254226892 0 X 0 0 0 0 24596679 0 24596679 0 278823571 0 X 63609 85809 -24746097 X 0 0 0 1 ANOKA HENNEPIN CREDIT UNION SPIRIT FOUNDATION 3505 NORTHDALE BLVD NW COON RAPIDS MN 55448 812373578 501(C)(3) 7161 0 SUPPORT OF SPIRIT FOUNDATION 1 0 PART I, LINE 2: THE GRANTEE IS A RELATED ORGANIZATION OF ANOKA HENNEPIN CREDIT UNION (AHCU). AHCU WORKS CLOSELY WITH THE GRANTEE TO ENSURE FUNDS ARE USED IN ACCORDANCE WITH THEIR PURPOSE. 1 X X 0 1 0 JEFFREY CLAUSSEN PRESIDENT & CEO 180265 0 50556 0 63930 0 10394 0 13246 0 318391 0 0 0 THERESA TOSTENGARD SVP - GENERAL COUNSEL 106688 0 34711 0 21791 0 8078 0 13443 0 184711 0 0 0 MARTIN WALIGORA VP OF FINANCE & CFO 112347 0 22922 0 20925 0 7524 0 6550 0 170268 0 0 0 RICK GONNERMAN CIO 105908 0 21537 0 18898 0 179 0 12325 0 158847 0 0 0 PART I, LINE 4B JEFFREY CLAUSEN PARTICIPATES IN A SPLIT-DOLLAR LIFE INSURANCE PLAN WITH THE ORGANIZATION. NO AMOUNT WAS DISTRIBUTED FROM THIS PLAN DURING 2024. JEFFREY CLAUSEN PRESIDENT & CEO SPLIT-DOLLAR LIFE INSURANCE X 1959000 0 0 1 1 NET ASSETS TRANSFER UPON DISSOLUTION 2024-08-01 26788700 APPRAISAL 410415960 TOPLINE FINANCIAL CREDIT UNION 9353 JEFFERSON HIGHWAY MAPLE GROVE MN 55369 501(C)(1) - FEDERALLY CHARTERED CREDIT UNION 1 1 0 1 1 1 1 1 0 PART I, LINE 2E: PERSON(S) INVOLVED: TERRY ANDERSONJAMES CALDWELLSTACY GERRETYTODD PROULXJEFFREY CLAUSSENRICK GONNERMANMARTIN WALIGORATHERESA TOSTENGARD PART I, LINE 2E: EXPLANATION OF INVOLVEMENT: TERRY ANDERSON - DIRECTOR / GOVERNANCE COMMITTEE JAMES CALDWELL - DIRECTOR / FINANCE COMMITTEE STACY GERRETY - DIRECTOR / NOMINATING COMMITTEE TODD PROULX - DIRECTOR / COMPENSATION AND BENEFITS COMMITTEE JEFFREY CLAUSSEN - DIVISION PRESIDENT OF AHCU - A DIVISION OF TOPLINE FINANCIAL CU RICK GONNERMAN - SVP INFORMATION TECHNOLOGY MARTIN WALIGORA - SVP CHIEF ACCOUNTING OFFICER THERESA TOSTENGARD - SVP GENERAL COUNSEL PART I, LINE 2D: JEFFREY CLAUSSEN - EMPLOYEE RETENTION AGREEMENTRICK GONNERMAN - EMPLOYEE RETENTION AGREEMENTMARTIN WALIGORA - EMPLOYEE RETENTION AGREEMENT THERESA TOSTENGARD - EMPLOYEE RETENTION AGREEMENT FORM 990, PART III, LINE 3 MERGED WITH TOPLINE FINANCIAL CREDIT UNION FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP IN AHCU IS COMPOSED OF THOSE WHO ARE EMPLOYEES AND RETIREES OF ANOKA HENNEPIN SCHOOL DIST. #11; ANOKA HENNEPIN TECHNICAL COLLEGE; FEDERAL PREMIUM AMMUNITION; HOFFMAN ENCLOSURES, INC.; GRACO, INC.; ANOKA HENNEPIN CREDIT UNION; AND THEIR SUBSIDIARIES; AND THOSE PERSONS WHO LIVE, WORK, WORSHIP, VOLUNTEER OR ATTEND SCHOOL IN, AND BUSINESSES AND OTHER ENTITIES LOCATED IN, ANOKA, BENTON, CHISAGO, HENNEPIN, KANABEC, ISANTI, PINE, RAMSEY AND WASHINGTON COUNTIES OF MINNESOTA; AND WHO SUBSCRIBE TO AND MAINTAIN AT LEAST ONE SHARE AS DESIGNATED BY THE BOARD OF DIRECTORS (HEREINAFTER "BOARD"), PAY THE INITIAL INSTALLMENT THEREON AND THE ENTRANCE FEE IF ANY. IN ADDITION TO A REGULARLY QUALIFIED MEMBER, THE SPOUSE OF A MEMBER, THE BLOOD, OR ADOPTIVE RELATIVES OF EITHER OF THEM AND THEIR SPOUSES, AND THE HOUSEHOLD MEMBER OF A MEMBER MAY BE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A ALL PRIMARY MEMBERS HAVE THE RIGHT TO VOTE TO ELECT MEMBERS TO OUR GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B ALL ELIGIBLE MEMBERS MAY VOTE ON CHANGES TO THE BYLAWS OF ANOKA HENNEPIN CREDIT UNION, APPROVAL OF DIRECTOR STIPENDS, THE REMOVAL OF DIRECTORS, OR THE REMOVAL OF ANOTHER MEMBER UNDER CERTAIN CIRCUMSTANCES. FORM 990, PART VI, SECTION A, LINE 8B THE COMMITTEES ARE NOT GRANTED AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FINAL COPY OF THE FORM 990 IS AVAILABLE TO EACH VOTING MEMBER OF THE GOVERNING BODY VIA A BOARD MEMBER WEBSITE AFTER THE CEO AND CFO DO AN INITIAL REVIEW AND PRIOR TO THE RETURN BEING FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C CONFLICTS OF INTEREST ARE MONITORED BY INTERNAL AUDITS, EXTERNAL AUDITS, AND NCUA AND STATE EXAMS. (1) ALL EMPLOYEES ARE COVERED BY THE POLICY, INCLUDING MEMBERS OF MANAGEMENT AND THE BOARD OF DIRECTORS. (2) DETERMINATIONS ARE MADE BY THE PRESIDENT AND CEO. (3) ACTUAL CONFLICTS ARE REVIEWED BY THE CHAIRPERSON OF THE BOARD AND THE MANAGEMENT TEAM. (4) IF A CONFLICT ARISES, THE IDENTIFIED PERSON IS RESTRICTED AND MAY NOT VOTE OR MAKE RECOMMENDATIONS ON PROPOSALS FROM THOSE ENTITIES. FORM 990, PART VI, SECTION B, LINE 15 THE VICE PRESIDENT OF HUMAN RESOURCES REVIEWED AND COLLECTED INFORMATION FROM CREDIT UNION EXECUTIVES SOCIETY (CUES), CREDIT UNION NATIONAL ASSOCIATION (CUNA), AND GOVERNMENT AGENCY RESOURCES TO FORMULATE RANGES FOR COMPENSATION. AHCU ALSO HIRED AN INDEPENDENT THIRD PARTY COMPENSATION FIRM CALLED BALANCE COMP TO REVIEW EMPLOYEE COMPENSATION BY COMPARING COMPENSATION LEVELS TO THAT OF SIMILAR ORGANIZATIONS IN THE MARKET. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE POSTED ON THE WEBSITE, WWW.AHCU.NET, AND ARE PROVIDED UPON WRITTEN REQUEST TO THE GENERAL PUBLIC. THE FINANCIAL STATEMENTS ARE POSTED MONTHLY IN ALL OFFICES, AND ARE AVAILABLE QUARTERLY ON THE NCUA'S WEBSITE, WWW.NCUA.GOV. FORM 990, PART VII, SECTION A, COLUMN (D) & (F) THE ORGANIZATION DID ISSUE W-2'S FOR THE PERIOD FROM 01/01/2024 TO 07/31/2024 PRIOR TO THEIR MERGER WITH TOPLINE FINANCIAL SO REPORTABLE COMPENSATION AND OTHER COMPENSATION AND BENEFITS FOR THAT PERIOD HAS BEEN INCLUDED ON THE 990. FORM 990, PART XI, LINE 9: NET ASSETS TRANSFERRED TO TOPLINE FINANCIAL CREDIT UNION UPON DISSOLUTION -24,746,097. ANOKA HENNEPIN CREDIT UNION SPIRIT FOUNDATION 3505 NORTHDALE BLVD NW COON RAPIDS MN 55448 812373578 PROVIDE LOCAL SUPPORT MN 501(C)(3) LINE 8 ANOKA HENNEPIN CREDIT UNION 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0