2022-11-14T11:05:17-06:00 2021-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2021-01-01 411563619 LEADING EDGE CREDIT UNION LEAD 5077752802 1127 RYANS ROAD WORTHINGTON MN 56187 BRANDIE SWENSON CFO 5077752802 2022-11-14 1 BRANDIE SWENSON 999009999 TANYA MEDGAARDEN P01717240 5074347000 2022-11-14 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z X X CHAD MERRIHEW 1127 RYANS ROAD WORTHINGTON MN 56187 7393908 0 X LEADINGEDGECU.ORG X CU 1986 MN MEMBER OWNED FINANCIAL SERVICES. 7 7 76 10 17939 10998 0 0 6437976 7082557 233175 283604 0 0 6671151 7366161 0 0 993795 678241 3022276 3471481 0 0 0 2764257 3128427 6780328 7278149 -109177 88012 135956726 143432418 123830223 131556206 12126503 11876212 X WE ARE THE TRUSTED FINANCIAL COOPERATIVE FOCUSED ON PROVIDING EXCEPTIONAL PRODUCTS AND SERVICES TO BENEFIT THE FINANCIAL GROWTH AND FUTURE SUCCESS OF OUR COMMUNITIES AND MEMBERS. 0 1 LOANS - CURRENTLY HAVE 7,379 LOANS OF $98,237,059 TO OUR 11,180 MEMBERS DEPOSITS - CURRENTLY HAVE $130,866,791 IN DEPOSITS HELD BY OUR 11,180 MEMBERS 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2028 0 1 76 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X BRANDIE SWENSON 5077752802 1127 RYANS ROAD WORTHINGTON MN 56187 RANDY DONAHUE CHAIRMAN 4.00 X X 1474 0 0 TONY VANDERBOSCH BOARD MEMBER 2.00 X 950 0 0 MIKE LOOSEBROCK VICE CHAIRMAN 3.00 X X 869 0 0 VORIS SPITTLE BOARD MEMBER 2.00 X 771 0 0 PHYLLIS BRUNK SECRETARY & TREASURER 3.00 X X 682 0 0 THOMAS MARTIN ASST SECRETARY & TREASURER 2.00 X X 0 0 0 RODNEY BYAM BOARD MEMBER 2.00 X 0 0 0 CHAD MERRIHEW CEO & PRESIDENT 45.00 X 228401 0 0 MIKE REEMTSMA COO 45.00 X 109372 0 0 LAURA HONKEN CIO 45.00 X 102112 0 0 DONNA TIMS CHRO 45.00 X 98184 0 0 BRANDIE SWENSON CFO 45.00 X 84490 0 0 MELISSA GEHL CMO 45.00 X 77409 0 0 704714 0 0 3 0 1 0 LSC 1807 W DIEHL ROAD NAPERVILLE IL 60563 DEBIT AND CREDIT CARD PROCESSING 379079 JACK HENRY PO BOX 609 MONETT MO 65708 CORE, DATA PROCESSING, ITALK 355214 EO JOHNSON 8400 STEWART AVE WAUSAU WI 54401 IT SERVICES 115054 3 LOAN INTEREST 522100 4315039 4315039 FEES & CHARGES 522100 1445785 1427846 17939 OTHER OPERATING INCOME 522100 1321733 1321733 7082557 293401 293401 17950 0 27747 17950 -27747 -9797 -9797 7366161 7064618 17939 283604 678241 704714 2104204 47585 409677 205301 31635 33009 25197 161525 1750970 285471 55307 58 350388 LOAN SERVICING EXPENSE 212422 OTHER OPERATING EXPENSE 178990 PROVISION FOR LOAN LOSS 43455 7278149 3542893 3875822 10051710 5442074 87465737 97948197 113931 217327 7583709 2530269 5300332 5053440 18886633 20026882 5311000 5468000 5284490 5400676 135956726 143432418 733878 689415 123096345 130866791 123830223 131556206 X 0 0 0 0 12126503 11876212 12126503 11876212 135956726 143432418 88012 -338303 0 X 0 0 0 560594 560594 5109228 1237111 3872117 1900887 1293158 607729 13000 13000 5053440 SHARE DRAFTS 28586969 REGULAR SHARES 32061247 MONEY MARKET SHARES 23963614 SHARE CERTIFICATES 35541309 IRA/KEOGH ACCOUNTS 5653652 NONMEMBER DEPOSITS 5060000 130866791 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER IRC 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION FILED TAX RETURNS IN THE PAST (BEGINNING IN 2014) FOR ANY ACTIVITIES DEEMED TAXABLE. PRIOR TO THAT, THE CREDIT UNION DID NOT FILE TAX RETURNS FOR ACTIVITIES DEEMED TAXABLE. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES, AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXPEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO MATERIAL UNCERTAIN TAX POSISITONS EXIST AS OF SEPTEMBER 30, 2021 AND 2020. THE CREDIT UNION'S 2017 THROUGH 2020 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. 0 0 0 CHAD MERRIHEW CEO & PRESIDENT 177987 0 50000 0 414 0 0 0 0 0 228401 0 0 0 FORM 990, PART III, LINE 3 CLOSED MT LAKE BRANCH 7/31/21 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS 11,180 MEMBERS AS OF 12/31/21 FORM 990, PART VI, SECTION A, LINE 7A OUR MEMBERS ELECT OUR BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B SOME BYLAW CHANGES REQUIRE APPROVAL BY OUR MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B OUR SUPERVISORY COMMITTEE REVIEWS THE RETURN PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH EMPLOYEE IS TO FILL OUT THE FORM ANNUALLY; RESTRICTIONS ARE PLACED SO EMPLOYEE IS BLOCKED FROM MAKING TRANSACTIONS ON THOSE ACCOUNTS FORM 990, PART VI, SECTION B, LINE 15 HR USES SOFTWARE CALLED COMPEASE THAT GIVES RANGES BASED ON OUR ASSET SIZE FORM 990, PART VI, SECTION C, LINE 19 POSTED IN OUR LOBBIES.