HIBBING CO-OP CREDIT UNION: Form 990, tax year 2022

View the entire original 990 at ProPublica ↗

Organization: HIBBING CO-OP CREDIT UNION (EIN 41-6029419)
Tax period: 2022-01-01 to 2022-12-31
Filed: 2023-08-03
IRS object ID: 202342159349301439
Schema version: 2022v5.0
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule D
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2023-08-03T13:39:22-05:00	ReturnTs
Tax Period End	2022-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	420714325	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	RSM US LLP	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	4650 EAST 53RD STREET	AddressLine1Txt
City	DAVENPORT	CityNm
State Abbreviation	IA	StateAbbreviationCd
ZIP	528073479	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2022-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	416029419	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	HIBBING COOPERATIVE CREDIT UNION	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	HIBB	BusinessNameControlTxt
Phone	2182638815	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	217 WEST 42ND STREET PO BOX 908	AddressLine1Txt
City	HIBBING	CityNm
State Abbreviation	MN	StateAbbreviationCd
ZIP	557460908	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	WAYLON VITTERS	PersonNm
Person Title	MANAGER	PersonTitleTxt
Phone	2182638815	PhoneNum
Signature	2023-08-01	SignatureDt
Discuss With Paid Preparer	Yes (1)	DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Field	Value	IRS element (for citing)
Person First	WAYLON	PersonFirstNm
Person Last	VITTERS	PersonLastNm

Field	Value	IRS element (for citing)
SSN	999009999	SSN

Field	Value	IRS element (for citing)
IRS Responsible Prty Info Curr	0	IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	JENIFER L CHASE	PreparerPersonNm
PTIN	P01306883	PTIN
Phone	5638884000	PhoneNum
Preparation	2023-08-01	PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

Field	Value	IRS element (for citing)
Trusted Customer	2	TrustedCustomerCd
Authentication Assurance Level	AAL1	AuthenticationAssuranceLevelCd
Identity Assurance Level	IAL1	IdentityAssuranceLevelCd

Field	Value	IRS element (for citing)
Tax	2022	TaxYr
Build TS	2023-04-26 12:10:37Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	WAYLON VITTERS	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	217 WEST 42ND STREET PO BOX 908	AddressLine1Txt
City	HIBBING	CityNm
State Abbreviation	MN	StateAbbreviationCd
ZIP	557460908	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$2,786,287	GrossReceiptsAmt
Group Return For Affiliates	0	GroupReturnForAffiliatesInd
Organization501c	Yes (X)	Organization501cInd
Website Address	WWW.HCCU.NET	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	1938	FormationYr
Legal Domicile State	MN	LegalDomicileStateCd
Activity Or Mission	HIBBING COOPERATIVE CREDIT UNION IS A STATE-CHARTERED COOPERATIVE ASSOCIATION ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AMONG AND CREATING A SOURCE OF CREDIT FOR ITS MEMBERS.	ActivityOrMissionDesc
Voting Members Governing Body	5	VotingMembersGoverningBodyCnt
Voting Members Independent	5	VotingMembersIndependentCnt
Total Employee	16	TotalEmployeeCnt
Total Volunteers	8	TotalVolunteersCnt
Total Gross UBI	$8,085	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$0	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$0	PYContributionsGrantsAmt
CY Contributions Grants	$0	CYContributionsGrantsAmt
PY Program Service Revenue	$1,815,705	PYProgramServiceRevenueAmt
CY Program Service Revenue	$1,667,714	CYProgramServiceRevenueAmt
PY Investment Income	$328,460	PYInvestmentIncomeAmt
CY Investment Income	$1,118,573	CYInvestmentIncomeAmt
PY Other Revenue	$0	PYOtherRevenueAmt
CY Other Revenue	$0	CYOtherRevenueAmt
PY Total Revenue	$2,144,165	PYTotalRevenueAmt
CY Total Revenue	$2,786,287	CYTotalRevenueAmt
PY Grants And Similar Paid	$0	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$0	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$98,470	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$73,453	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$702,069	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$704,894	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$949,883	PYOtherExpensesAmt
CY Other Expenses	$1,022,490	CYOtherExpensesAmt
PY Total Expenses	$1,750,422	PYTotalExpensesAmt
CY Total Expenses	$1,800,837	CYTotalExpensesAmt
PY Revenues Less Expenses	$393,743	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$985,450	CYRevenuesLessExpensesAmt
Total Assets BOY	$108,549,436	TotalAssetsBOYAmt
Total Assets EOY	$110,217,749	TotalAssetsEOYAmt
Total Liabilities BOY	$97,957,913	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$98,350,275	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$10,591,523	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$11,867,474	NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part III	Yes (X)	InfoInScheduleOPartIIIInd
Mission	HIBBING COOPERATIVE CREDIT UNION IS A STATE-CHARTERED COOPERATIVE ASSOCIATION ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AMONG AND CREATING A SOURCE OF CREDIT FOR ITS MEMBERS.	MissionDesc
Significant New Program Srvc	0	SignificantNewProgramSrvcInd
Significant Change	0	SignificantChangeInd
Desc	WE GENERATED 1,257 LOANS TO OUR MEMBERS IN 2022 THAT TOTALED $13,544,718. WE GENERATE LOANS TO BUY NEW AND USED VEHICLES, RECREATIONAL ITEMS, HOUSEHOLD ITEMS AND FOR ANY REASONABLE PURPOSE. WE ALSO GENERATE HOME EQUITY LOANS AND OFFER VISA CREDIT CARDS.	Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

Field	Value	IRS element (for citing)
Desc	WE OFFER VARIOUS TYPES OF SAVINGS PRODUCTS TO OUR MEMBERS. ON 12/31/22 OUR MEMBERS HAD ON DEPOSIT $77,991,525 IN 13,398 ACCOUNTS.	Desc

Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp

Field	Value	IRS element (for citing)
Desc	WE OFFER SHARE DRAFT ACCOUNTS TO OUR MEMBERS. ON 12/31/22 WE HAD $20,026,950 IN 4,086 ACCOUNTS.	Desc

Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp

Field	Value	IRS element (for citing)
Desc	HIBBING COOPERATIVE CREDIT UNION ALSO OFFERS HOME BANKING VIA THE INTERNET, VISA DEBIT CARDS, ATM, AND AUDIO RESPONSE (PHONE) FOR OUR MEMBERS' CONVENIENCE.	Desc

Field	Value	IRS element (for citing)
Described In Section501c3	0	DescribedInSection501c3Ind
Schedule B Required	0	ScheduleBRequiredInd
Political Campaign Acty	0	PoliticalCampaignActyInd
Subject To Proxy Tax	0	SubjectToProxyTaxInd
Donor Advised Fund	0	DonorAdvisedFundInd
Conservation Easements	0	ConservationEasementsInd
Collections Of Art	0	CollectionsOfArtInd
Credit Counseling	0	CreditCounselingInd
Donor Rstr Or Quasi Endowments	0	DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment	Yes (1)	ReportLandBuildingEquipmentInd
Report Investments Other Sec	0	ReportInvestmentsOtherSecInd
Report Program Related Invst	0	ReportProgramRelatedInvstInd
Report Other Assets	0	ReportOtherAssetsInd
Report Other Liabilities	Yes (1)	ReportOtherLiabilitiesInd
Include FIN48 Footnote	0	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	0	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	0	ConsolidatedAuditFinclStmtInd
School Operating	0	SchoolOperatingInd
Foreign Office	0	ForeignOfficeInd
Foreign Activities	0	ForeignActivitiesInd
More Than5000 K To Org	0	MoreThan5000KToOrgInd
More Than5000 K To Individuals	0	MoreThan5000KToIndividualsInd
Professional Fundraising	0	ProfessionalFundraisingInd
Fundraising Activities	0	FundraisingActivitiesInd
Gaming Activities	0	GamingActivitiesInd
Operate Hospital	0	OperateHospitalInd
Grants To Organizations	0	GrantsToOrganizationsInd
Grants To Individuals	0	GrantsToIndividualsInd
Schedule J Required	0	ScheduleJRequiredInd
Tax Exempt Bonds	0	TaxExemptBondsInd
Loan Outstanding	0	LoanOutstandingInd
Grant To Related Person	0	GrantToRelatedPersonInd
Business Rln With Org Mem	0	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	0	BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent	0	BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri	0	DeductibleNonCashContriInd
Deductible Art Contribution	0	DeductibleArtContributionInd
Terminate Operations	0	TerminateOperationsInd
Partial Liquidation	0	PartialLiquidationInd
Disregarded Entity	0	DisregardedEntityInd
Related Entity	0	RelatedEntityInd
Related Organization Ctrl Ent	0	RelatedOrganizationCtrlEntInd
Activities Conducted Prtshp	0	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (1)	ScheduleORequiredInd
IRP Document	1491	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (1)	BackupWthldComplianceInd
Employee	16	EmployeeCnt
Employment Tax Returns Filed	Yes (1)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	Yes (1)	UnrelatedBusIncmOverLimitInd
Form990 T Filed	Yes (1)	Form990TFiledInd
Foreign Financial Account	0	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTransInd
Taxable Party Notification	0	TaxablePartyNotificationInd
Nondeductible Contributions	0	NondeductibleContributionsInd
Indoor Tanning Services	0	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	0	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	0	SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	5	GoverningBodyVotingMembersCnt
Independent Voting Member	5	IndependentVotingMemberCnt
Family Or Business Rln	0	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	0	DelegationOfMgmtDutiesInd
Change To Org Documents	0	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	0	MaterialDiversionOrMisuseInd
Members Or Stockholders	Yes (1)	MembersOrStockholdersInd
Election Of Board Members	Yes (1)	ElectionOfBoardMembersInd
Decisions Subject To Approva	Yes (1)	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (1)	MinutesOfGoverningBodyInd
Minutes Of Committees	0	MinutesOfCommitteesInd
Officer Mailing Address	0	OfficerMailingAddressInd
Local Chapters	0	LocalChaptersInd
Form990 Provided To Gvrn Body	Yes (1)	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	0	ConflictOfInterestPolicyInd
Whistleblower Policy	0	WhistleblowerPolicyInd
Document Retention Policy	0	DocumentRetentionPolicyInd
Compensation Process CEO	0	CompensationProcessCEOInd
Compensation Process Other	0	CompensationProcessOtherInd
Investment In Joint Venture	0	InvestmentInJointVentureInd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	JESSIE RUTHERFORD	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	2182638815	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	217 WEST 42ND STREET PO BOX 908	AddressLine1Txt
City	HIBBING	CityNm
State Abbreviation	MN	StateAbbreviationCd
ZIP	557460908	ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (6 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	OfficerOfficerInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt
PATRICK DILLEY
SECRETARY	0.30	Yes (X)	Yes (X)	$770	$0	$0
JOHN DIXON
TREASURER	0.30	Yes (X)	Yes (X)	$840	$0	$0
GARY S KANGAS
PRESIDENT	0.30	Yes (X)	Yes (X)	$840	$0	$0
REX LENTNER
DIRECTOR	0.30	Yes (X)		$1,280	$0	$0
DAVID SIMONSON
VICE PRESIDENT	0.30	Yes (X)	Yes (X)	$770	$0	$0
WAYLON VITTERS
MANAGER	40.00		Yes (X)	$98,768	$0	$11,373

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$103,268	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$11,373	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	0	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	0	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	0	TotalCompGreaterThan150KInd
Compensation From Other Srcs	0	CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp

Contractor Name ContractorName

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	FISERV INC	BusinessNameLine1Txt

Contractor Address ContractorAddress

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	75 REMITTANCE DRIVE DEPT 1649	AddressLine1Txt
City	CHICAGO	CityNm
State Abbreviation	IL	StateAbbreviationCd
ZIP	606751649	ZIPCd

Field	Value	IRS element (for citing)
Services	DATA PROCESSING	ServicesDesc
Compensation	$161,128	CompensationAmt

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	1	CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp (4 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt	Unrelated Business RevenueUnrelatedBusinessRevenueAmt
LOAN INTEREST	522100	$1,001,791	$1,001,791
SERVICE CHARGES	518210	$462,259	$454,174	$8,085
OTHER INCOME	522100	$183,664	$183,664
LOAN LOSS RECOVERY	522100	$20,000	$20,000

Field	Value	IRS element (for citing)
Total Program Service Revenue	$1,667,714	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$1,118,573	TotalRevenueColumnAmt
Exclusion	$1,118,573	ExclusionAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$2,786,287	TotalRevenueColumnAmt
Related Or Exempt Func Income	$1,659,629	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$8,085	UnrelatedBusinessRevenueAmt
Exclusion	$1,118,573	ExclusionAmt

Benefits To Members BenefitsToMembersGrp

Field	Value	IRS element (for citing)
Total	$73,453	TotalAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

Field	Value	IRS element (for citing)
Total	$114,641	TotalAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$362,214	TotalAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$130,261	TotalAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$58,158	TotalAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$39,620	TotalAmt

Fees For Services Legal FeesForServicesLegalGrp

Field	Value	IRS element (for citing)
Total	$17,371	TotalAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$112,504	TotalAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$161,128	TotalAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$28,121	TotalAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$122,406	TotalAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$72,066	TotalAmt

Conferences Meetings ConferencesMeetingsGrp

Field	Value	IRS element (for citing)
Total	$980	TotalAmt

Payments To Affiliates PaymentsToAffiliatesGrp

Field	Value	IRS element (for citing)
Total	$19,534	TotalAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$15,043	TotalAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$42,770	TotalAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt
ATM INTERCHANGE EXPENSE	$221,266
VISA CREDIT CARD EXPENS	$114,589
CREDIT REPORTS	$15,051
STATE EXAMINATION FEES	$12,000

All Other Expenses AllOtherExpensesGrp

Field	Value	IRS element (for citing)
Total	$67,661	TotalAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$1,800,837	TotalAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$1,099,040	BOYAmt
EOY	$1,169,756	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$83,896,584	BOYAmt
EOY	$81,972,614	EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

Field	Value	IRS element (for citing)
BOY	$22,040,628	BOYAmt
EOY	$25,343,626	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$88,071	BOYAmt
EOY	$250,968	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$1,153,765	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$1,108,351	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$48,660	BOYAmt
EOY	$45,414	EOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$1,376,453	BOYAmt
EOY	$1,435,371	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$108,549,436	BOYAmt
EOY	$110,217,749	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$566,396	BOYAmt
EOY	$331,800	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$97,391,517	BOYAmt
EOY	$98,018,475	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$97,957,913	BOYAmt
EOY	$98,350,275	EOYAmt

Field	Value	IRS element (for citing)
Org Does Not Follow FASB117	Yes (X)	OrgDoesNotFollowFASB117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

Field	Value	IRS element (for citing)
BOY	$10,591,523	BOYAmt
EOY	$11,867,474	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$10,591,523	BOYAmt
EOY	$11,867,474	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$108,549,436	BOYAmt
EOY	$110,217,749	EOYAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part XI	Yes (X)	InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss	$985,450	ReconcilationRevenueExpnssAmt
Other Changes In Net Assets	$290,501	OtherChangesInNetAssetsAmt
Info In Schedule O Part XII	Yes (X)	InfoInScheduleOPartXIIInd
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	0	AccountantCompileOrReviewInd
FS Audited	0	FSAuditedInd
Federal Grant Audit Required	0	FederalGrantAuditRequiredInd

Schedule D IRS990ScheduleD

Land LandGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$27,000	OtherCostOrOtherBasisAmt
Book Value	$27,000	BookValueAmt

Buildings BuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$684,534	OtherCostOrOtherBasisAmt
Depreciation	$684,534	DepreciationAmt
Book Value	$0	BookValueAmt

Equipment EquipmentGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$442,231	OtherCostOrOtherBasisAmt
Depreciation	$423,817	DepreciationAmt
Book Value	$18,414	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$45,414	TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

Field	Value	IRS element (for citing)
Desc	MEMBERS' SHARES AND DEPOSITS	Desc
Amt	$98,018,475	Amt

Field	Value	IRS element (for citing)
Total Liability	$98,018,475	TotalLiabilityAmt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (9 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 6	HIBBING COOPERATIVE CREDIT UNION HAS MEMBERS AS SPECIFIED BY ITS BYLAWS.
FORM 990, PART VI, SECTION A, LINE 7A	HIBBING COOPERATIVE CREDIT UNION MEMBERS HAVE THE POWER TO ELECT THE MEMBERS OF THE GOVERNING BODY.
FORM 990, PART VI, SECTION A, LINE 7B	COMPENSATION OF THE DIRECTORS AND OFFICERS, OTHER THAN THAT OF THE MANAGER AND EMPLOYEES, SHALL BE DETERMINED BY THE MEMBERS AT ANY REGULAR OR SPECIAL MEETING.
FORM 990, PART VI, SECTION A, LINE 8B	HIBBING COOPERATIVE CREDIT UNION DOES NOT HAVE COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
FORM 990, PART VI, SECTION B, LINE 11B	FORM 990 IS REVIEWED BY MANAGEMENT AND A COPY IS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS.
FORM 990, PART VI, SECTION B, LINE 15	EACH YEAR THE BOARD OF DIRECTORS SETS COMPENSATION FOR ALL EMPLOYEES. AT THE ANNUAL MEETING MEMBERSHIP SETS COMPENSATION FOR THE BOARD OF DIRECTORS.
FORM 990, PART VI, SECTION C, LINE 19	HIBBING COOPERATIVE CREDIT UNION (THE CREDIT UNION) MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST IN THE SAME TIME AND MANNER AS OTHER DISCLOSURES REQUIRED UNDER INTERNAL REVENUE CODE SECTION 6104. THE CREDIT UNION DOES NOT HAVE A FORMAL WRITTEN CONFLICT OF INTEREST POLICY.
FORM 990, PART XI, LINE 9:	CHANGE IN OTHER COMPREHENSIVE INCOME 290,501.
FORM 990, PART IV, LINE 12A & PART XII, LINE 2B	THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AUDITED ON A SEPARATE BASIS BY AN INDEPENDENT ACCOUNTANT. HOWEVER, THE FINANCIAL STATEMENTS ARE AUDITED ON A FISCAL YEAR-END BASIS OF JUNE 30TH, WHILE THE ORGANIZATION'S TAX YEAR-END IS DECEMBER 31ST.