2025-05-07T15:55:37-05:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2024-01-01 410319960 ACCENTRA CREDIT UNION ACCE 5074331829 400 4TH AVENUE NE PO BOX 657 AUSTIN MN 55912 PAUL KNORR CEO 5074331829 2025-05-05 1 0 TANYA MEDGAARDEN P01717240 5074347000 2025-05-05 2024 2025-03-06 01:10:19Z PAUL KNORR 400 4TH AVENUE NE PO BOX 657 AUSTIN MN 55912 11303688 0 X WWW.ACCENTRACU.ORG X CU 1930 MN FINANCIAL SERVICES TO MEMBER OWNERS 7 7 55 0 64756 9173 0 0 9074664 10364348 813062 914423 0 0 9887726 11278771 0 0 1337528 1784124 2956781 3205898 0 0 0 4978514 4987415 9272823 9977437 614903 1301334 200358912 200225953 185264379 183609876 15094533 16616077 TO CONDUCT THE ORDINARY AND NECESSARY BUSINESS OF A CREDIT UNION INVOLVING THE RECEIVING OF SAVINGS OF MEMBERS AND LENDING MONEY TO MEMBERS FOR PROVIDENT PURPOSES. 0 0 TO PROVIDE LOANS TO MEMBERS AND TO PAY DIVIDENDS ON MEMBER SHARE ACCOUNTS, SHAREDRAFT ACCOUNTS AND CERTIFICATES. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 2107 0 1 55 1 1 1 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X LYNDSEY JOHNSON 5074343317 400 4TH AVE NE AUSTIN MN 55912 PETER FERRELL SUP CHAIR 1.00 X X 820 0 0 GORDY KUEHNE BOARD CHAIRMAN 1.00 X X 459 0 0 SHERI DANKERT BOARD MEMBER 0.50 X 451 0 0 MARISA NAGELE BOARD VICE-CHAIR 0.50 X X 391 0 0 DARRELL INGVALDSON BOARD MEMBER 0.50 X 370 0 0 RAYCE HARDY BOARD MEMBER 0.50 X 361 0 0 SARA WHITE BOARD MEMBER 0.50 X 336 0 0 KIRBY REEPING SUP MEMBER 0.50 X 327 0 0 JIM KRUEGER SUP MEMBER 0.50 X 302 0 0 MATT CIZIK BOARD MEMBER 0.50 X 191 0 0 PAUL KNORR CEO 40.00 X 252772 0 60201 LYNDSEY JOHNSON CFO 40.00 X 117112 0 12126 BRAD HJELLMING VP - LENDING 40.00 X 109896 0 40801 483788 0 113128 3 0 1 0 FISERV EFT PO BOX 60000 SAN FRANCISCO CA 94160 DATA PROCESSING 714851 FISERV INC PO BOX 934057 ATLANTA GA 31193 EFT PROCESSING 409009 NCR CORPORATION PO BOX 740641 LOS ANGELES CA 90074 ONLINE BANKING PROCESSING 277373 3 LOAN INTEREST 522100 7264081 7264081 FEES/CHARGES 522100 3100267 3035511 64756 10364348 939340 939340 24917 -24917 -24917 -24917 11278771 10299592 64756 914423 X 1784124 446219 1826655 185743 557848 189433 12590 79896 1057813 1703779 284178 48968 90561 322175 PROVISION FOR CREDIT LO 782320 LOAN SERVICING 307514 EDUCATION AND PROMOTION 184775 MISC. OPERATING 97703 15143 9977437 2546527 3706641 5027865 8559902 1735790 1855199 2566018 2703968 143082400 140048944 204298 360233 9012497 5308787 3373274 3703710 25581560 22158315 12931100 13514300 3310080 3614741 200358912 200225953 3001844 2567586 9200000 173062535 181042290 185264379 183609876 X 0 0 0 0 15094533 16616077 15094533 16616077 200358912 200225953 X 1301334 294748 -74538 X X 0 0 0 418258 418258 5090823 2522697 2568126 132814 98374 34440 3370602 2687716 682886 3703710 DEPOSITS IN COMM. BANKS, ETC. 13394000 C OTHER INVESTMENTS 120300 C 13514300 MEMBER SHARES 181032106 ALLOWANCE FOR CREDIT LOSSES ON OFF-BALANCE SHEET CREDIT EXPOSURES 10184 181042290 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER IRC SECTION 501 (C) (14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE AND HAS A MINIMAL NET OPERATING LOSS CARRYFORWARD. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF MARCH 31, 2024 AND 2023. THE CREDIT UNION'S 2020 THROUGH 2023 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. X X X 0 0 0 PAUL KNORR CEO 233169 0 19603 0 0 0 18172 0 42029 0 312973 0 0 0 BRAD HJELLMING VP - LENDING 109896 0 0 0 0 0 7898 0 32903 0 150697 0 0 0 PART I, LINE 3 THERE IS A COMPENSATION COMMITTEE CONSISTING OF THREE BOARD MEMBERS. THEY REVIEW CUNA SALARY PUBLICATIONS, LOCAL MARKET, AND COLA. THEY TAKE THEIR SUGGESTIONS TO THE BOARD OF DIRECTORS FOR APPROVAL. PAUL KNORR CEO SPLIT-DOLLAR LIFE INSURANCE UNDER REG 1.7872-15 X 2425000 2703968 0 1 1 2703968 SCHEDULE L, PART II NOTED THIS TO BE A NON-RECOURSE PLAN THAT IS RECORDED ON THE BALANCE SHEET AT THE LOWER OF LOAN BALANCE OR CASH SURRENDER VALUE. BECAUSE THE CASH SURRENDER VALUE WAS LOWER, WE REPORTED THE AMOUNT OF 2,703,968 FOR BALANCE SHEET PURPOSES. HOWEVER, THE ACTUAL LOAN BALANCE IS $2,735,921. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS COMPRISED OF A SINGLE CLASS OF APPROXIMATELY 16,923 MEMBER-OWNERS, EACH OF WHICH HAS EQUAL RIGHTS IN OWNERSHIP, GOVERNANCE AND VOTING RIGHTS AT THE ANNUAL MEETINGS, WITH THE EXCEPTION OF THE MEMBER-OWNERS WHO ARE ELECTED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBER-OWNERS OF THE CREDIT UNION HAVE THE AUTHORITY TO ELECT THE MEMBERS OF THE BOARD OF DIRECTORS FOR THREE-YEAR TERMS ON A ROTATING BASIS. CANDIDATES ARE ELECTED BY A SIMPLE PLURALITY VOTE. THE BOARD OF DIRECTORS APPOINT VOLUNTEERS TO SERVE ON THE SUPERVISORY COMMITTEE, WHICH IS VESTED WITH MONITORING SAFETY AND SOUNDSHIP OF THE ORGANIZATION. IF DEEMED APPROPRIATE, THE SUPERVISORY COMMITTEE CAN SUSPEND BOARD MEMBERS AND CAN CALL A SPECIAL MEETING OF THE MEMBERSHIP TO EVALUATE THE ISSUE AND VOTE TO EITHER DISMISS OR REINSTATE THE BOARD MEMBER. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO THE GOVERNING DOCUMENTS (BYLAWS) MUST BE APPROVED BY THE MEMBER-OWNERS AFTER THEY HAVE BEEN APPROVED BY THE BOARD OF DIRECTORS AND THE REGULATORY AGENCY. APPROVAL OCCURS WHEN AT LEAST TWO-THIRDS OF THE MEMBER-OWNERS THAT VOTE DO VOTE TO APPROVE. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY APPROPRIATE OFFICERS PRIOR TO FILING. IT IS ALSO REVIEWED BY THE SUPERVISORY COMMITTEE AND THE BOARD OF DIRECTORS AFTER FILING. FORM 990, PART VI, SECTION B, LINE 12C REVIEW OF VENDOR INVOICES AND TRANSACTIONS TO MONITOR COMPLIANCE TO THE POLICY. ALL STAFF AND BOARD ARE SUBJECT TO THIS POLICY. IF THERE IS A CONFLICT, IT IS PRESENTED TO SENIOR MANAGEMENT AND BUSINESS ACTIVITY WOULD CEASE. FORM 990, PART VI, SECTION B, LINE 15 A COMMITTEE COMPRISED OF BOARD MEMBERS ANNUALLY REVIEWS, RESEARCHES, AND THEN RECOMMENDS THE AMOUNT OF CEO COMPENSATION. THIS AMOUNT IS APPROVED BY THE BOARD OF DIRECTORS AND IS ALSO MADE AVAILABLE TO EXAMINERS AND AUDITORS FOR THEIR REVIEW DURING EXAMS AND AUDITS. THE CREDIT UNION HAS A COMPENSATION POLICY THAT SETS GUIDELINES TO BE FOLLOWED FOR STAFF COMPENSATION. THE CU USES INDUSTRY SALARY AND BENEFIT COMPARISON REPORTS OBTAINED IN REVIEWING PROPER COMPENSATION LEVELS FOR OFFICERS AND KEY EMPLOYEES. ALL CHANGES TO COMPENSATION ARE REVIEWED BY DEPARTMENT HEADS AND SUBMITTED FOR APPROVAL BY THE CEO AND HR. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S BYLAWS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC THROUGH POSTING IN THE CREDIT UNION'S OFFICE OR CAN BE REVIEWED BY APPOINTMENT. FORM 990, PART IX, LINE 11G PROFESSIONAL & OUTSIDE SERVICES 569,153. DATA PROCESSING 488,660. FORM 990, PART XI, LINE 9: CHANGE IN OCI -74,538. FORM 990, PART XII, LINE 2B AUDITED FINANCIAL STATEMENTS - THE AUDIT WAS DONE AS OF 3/31. THEREFORE, THE REPORTING PERIOD FOR THE AUDIT DOES NOT MATCH THE REPORTING PERIOD FOR THE 990. FORM 990, PART XII, LINE 2C AUDIT OVERSIGHT - THE SUPERVISORY COMMITTEE OVERSEES THE AUDIT AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT.