2022-11-14T14:19:42-06:00 2021-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2021-01-01 410749255 TRUSTONE FINANCIAL CREDIT UNION TRUS 8008621998 14601 27TH AVE N STE 104 PLYMOUTH MN 55447 DANIEL ZACZKOWSKI CHIEF FINANCIAL OFFICER 8008621998 2022-11-07 1 DANIEL ZACZKOWSKI 999009999 TANYA MEDGAARDEN P01717240 5074347000 2022-11-07 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z DALE TURNER 14601 27TH AVE N STE 104 PLYMOUTH MN 55447 163057183 0 X WWW.TRUSTONEFINANCIAL.ORG X CREDIT UNION 1939 MN WE ENGAGE, EDUCATE AND INSPIRE OUR MEMBERS TO ACHIEVE LIFELONG FINANCIAL WELL-BEING. 13 13 772 10 284694 85060 0 0 533058 158693328 34043 8095849 0 -5139578 567101 161649599 0 0 63611 11845816 199593 61267266 0 0 0 132674 43927301 395878 117040383 171223 44609216 3548378075 3979767120 3168269291 3564688522 380108784 415078598 WE ENGAGE, EDUCATE AND INSPIRE OUR MEMBERS TO ACHIEVE LIFELONG FINANCIAL WELL-BEING. 0 0 LOANS:AS A STATE CHARTERED CREDIT UNION, WE PROVIDE A VARIETY OF LENDING SERVICES TO OUR MEMBERSHIP. THE CREDIT UNION HAD 123,931 LOANS OUTSTANDING AS OF 12/31/21 WITH BALANCES OF $2,827,135,194. DEPOSITS:AS A STATE CHARTERED CREDIT UNION, WE PROVIDE A VARIETY OF DEPOSITORY SERVICES TO OUR MEMBERSHIP. THE CREDIT UNION HAD 438,568 ACCOUNTS WITH DEPOSITS OF $3,466,534,385 AS OF 12/31/21. 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 0 0 0 0 0 0 0 0 0 0 1 0 0 1 47892 0 1 772 1 1 1 0 0 0 0 0 0 0 X 13 13 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 X DANIEL ZACZKOWSKI 7635954003 14601 27TH AVE N STE 104 PLYMOUTH MN 55447 JOHN CHRISTENSON CHAIR 5.00 X X 3675 0 0 ANNE ZIEBELL VICE CHAIR 5.00 X X 0 0 0 SAMUEL STERN SECRETARY 5.00 X X 4986 0 0 JAMES SACKETT TREASURER 2.00 X X 3427 0 0 BRUCE WHITMORE DIRECTOR 2.00 X 2905 0 0 DARRICK METZ DIRECTOR 2.00 X 4621 0 0 DOUG NESBIT DIRECTOR 2.00 X 4888 0 0 EVELYN JONES DIRECTOR 2.00 X 819 0 0 KEVIN CRANE DIRECTOR 2.00 X 1886 0 0 KRISTINE ZICCARDI DIRECTOR 2.00 X 0 0 0 STEVE BOHLIG DIRECTOR 2.00 X 3929 0 0 STEVE HUNZIKER DIRECTOR 2.00 X 4267 0 0 TOM ALAGNA DIRECTOR 2.00 X 0 0 0 DALE TURNER CEO 40.00 X 831615 0 32027 LEON EICHTEN CHIEF ACCOUNTING OFFICER 40.00 X 773753 0 24116 KELLY ROBBERT CHIEF EXPERIENCE OFFICER 40.00 X 372861 0 33714 GARY JETER CHIEF TECHNOLOGY OFFICER 40.00 X 347511 0 29748 STEVEN STEEN CHIEF RETAIL OFFICER 40.00 X 330306 0 29894 DANIEL ZACZKOWSKI CHIEF FINANCIAL OFFICER 40.00 X 319161 0 22497 HANS INVERSON CHIEF OPERATIONS OFFICER 40.00 X 310471 0 25601 TIM BOSIACKI CHIEF EXECUTIVE OFFICER 40.00 X 303229 0 13830 PHILIP YOUNG CHIEF LEGAL OFFICER 40.00 X 288815 0 22762 MARTIN KELLY CHIEF MARKETING OFFICER 40.00 X 246738 0 50451 NATHAN GRUNZKE CHIEF MORTGAGE OFFICER 40.00 X 275449 0 15751 NICOLE HAHN DEMPSTER CHIEF PEOPLE OFFICER 40.00 X 216235 0 46684 JO LEE MCDEVITT MORTGAGE CONSULTANT 40.00 X 750640 0 33886 THOMAS COCHRAN MORTGAGE AREA SALES MANAGER 40.00 X 655954 0 30425 JEFFREY ZAJAC MORTGAGE AREA SALES MANAGER 40.00 X 650650 0 18330 ERIC FELD MORTGAGE CONSULTANT 40.00 X 600386 0 31931 BENJAMIN JOHNSON MORTGAGE AREA SALES MANAGER 40.00 X 514435 0 30342 7823612 0 491989 27 0 1 0 PSCU 560 CARILLON PARKWAY ST PETERBURG FL 33716 CARD PROCESSING 6560199 Q2 SOFTWARE INC PO BOX 205970 DALLAS TX 75320 FORMER ONLINE BANKING PROVIDER 3365374 JACK HENRY & ASSOCIATES PO BOX 609 MONETT MO 65708 CORE TRANSACTION PROCESSOR 2449078 VISION MEDIA-STEPHEN REED TWO DOGS MEDIA 11820 NORTHRUP WAY STE E-100 BELLEVUE WA 98005 DIGITAL MEDIA PROVIDER 2037119 ANCONA TITLE AGENCY 4750 WHITE BEAR PARKWAY WHITE BEAR LAKE MN 55110 TITLE COMPANY 1800787 43 INTEREST ON LOANS 522100 107796163 107796163 MISC OPERATING INCOME 522100 38235058 38235058 FEE INCOME 522100 12662107 12377413 284694 158693328 9450414 9450414 53019 1367141 40443 -1314122 -40443 -1354565 -1354565 OTHER NON-INTEREST INCOME(EXPENSE 522100 -5139578 -5139578 -5139578 161649599 153269056 284694 8095849 11845816 4998622 42845406 3454698 6674018 3294522 286630 113311 6866186 3321919 11563449 4119565 632332 1569578 4885482 PROVISION FOR LOAN LOSS 4679142 LOAN SERVICING 4025869 MISCELLANEOUS 1766247 SUPERVISION EXPENSES 97591 117040383 31409597 26246123 457252878 146188578 8755467 1507370 2470188245 2817263759 4135509 3442358 91024610 37362854 56109780 53661756 8299200 8341300 370024388 764454147 22085328 22082353 120117683 136579376 3548378075 3979767120 42669959 55652272 42500000 42500000 3083099332 3466536250 3168269291 3564688522 X 0 0 0 0 380108784 415078598 380108784 415078598 3548378075 3979767120 X 44609216 -9684404 45001 X X 0 1 X 1 0 18874527 18874527 38048823 11283499 26765324 2281785 1438147 843638 29523344 24641208 4882136 2296131 2296131 53661756 EQUITY SECURITIES 6008025 F AVAILABLE FOR SALE SECURITIES 757867118 F PERPETUAL CONTRIBUTED CAPITAL 579004 C 764454147 NON TRADING DERIVATIVE LIABILITY 1865 MEMBER SHARES 3466534385 3466536250 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER INTERNAL REVENUE CODE 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION'S CONVERSION TO A STATE CHARTERED CREDIT UNION ON DECEMBER 30, 2020 RESULTED IN IT BEING SUBJECT TO UNRELATED BUSINESS INCOME TAX. ALSO, AS A RESULT OF BECOMING A STATE CHARTERED CREDIT UNION, THE CREDIT UNION BEGAN PAYING STATE SALES AND USE TAXES. THE CREDIT UNION HAS FILED TAX RETURNS FOR ACTIVITIES THEY HAVE DEEMED TAXABLE. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2021. 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 AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. 0 0 0 DALE TURNER CEO 611830 0 166652 0 53133 0 29803 0 2224 0 863642 0 0 0 LEON EICHTEN CHIEF ACCOUNTING OFFICER 45264 0 318972 0 409517 0 22540 0 1576 0 797869 0 0 0 JO LEE MCDEVITT MORTGAGE CONSULTANT 2183 0 728867 0 19590 0 31136 0 2750 0 784526 0 0 0 THOMAS COCHRAN MORTGAGE AREA SALES MANAGER 14933 0 621334 0 19687 0 28270 0 2155 0 686379 0 0 0 JEFFREY ZAJAC MORTGAGE AREA SALES MANAGER 12809 0 618179 0 19662 0 14251 0 4079 0 668980 0 0 0 ERIC FELD MORTGAGE CONSULTANT 202 0 580599 0 19585 0 26703 0 5228 0 632317 0 0 0 BENJAMIN JOHNSON MORTGAGE AREA SALES MANAGER 8333 0 486444 0 19658 0 21033 0 9309 0 544777 0 0 0 KELLY ROBBERT CHIEF EXPERIENCE OFFICER 66519 0 302108 0 4234 0 31908 0 1806 0 406575 0 0 0 GARY JETER CHIEF TECHNOLOGY OFFICER 232755 0 68566 0 46190 0 20895 0 8853 0 377259 0 0 0 STEVEN STEEN CHIEF RETAIL OFFICER 224078 0 56350 0 49878 0 23085 0 6809 0 360200 0 0 0 DANIEL ZACZKOWSKI CHIEF FINANCIAL OFFICER 217802 0 53843 0 47516 0 15840 0 6657 0 341658 0 0 0 HANS INVERSON CHIEF OPERATIONS OFFICER 209141 0 53843 0 47487 0 15841 0 9760 0 336072 0 0 0 TIM BOSIACKI CHIEF EXECUTIVE OFFICER 132522 0 106503 0 64204 0 13598 0 232 0 317059 0 0 0 PHILIP YOUNG CHIEF LEGAL OFFICER 194512 0 48203 0 46100 0 15934 0 6828 0 311577 0 0 0 MARTIN KELLY CHIEF MARKETING OFFICER 176243 0 47891 0 22604 0 42461 0 7990 0 297189 0 0 0 NATHAN GRUNZKE CHIEF MORTGAGE OFFICER 190490 0 41480 0 43479 0 13103 0 2648 0 291200 0 0 0 NICOLE HAHN DEMPSTER CHIEF PEOPLE OFFICER 157198 0 38519 0 20518 0 42607 0 4077 0 262919 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP IS AVAILABLE TO PERSONS WHO LIVE, WORK, WORSHIP, VOLUNTEER OR ATTEND SCHOOL IN AND BUSINESSES AND OTHER LEGAL ENTITIES IN THE 13-COUNTY MINNEAPOLIS/ST.PAUL METRO AREA AND 3 COUNTIES IN SE WISCONSIN. MEMBERSHIP IS ALSO AVAILABLE TO SELECT GROUPS OF EMPLOYEES. THE HOUSEHOLD OF A MEMBER INCLUDING BUT NOT LIMITED TO THE SPOUSE, BLOOD OR ADOPTIVE RELATIVES OF THE MEMBER ARE ALSO ELIGIBLE. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT THE BOARD OF DIRECTORS. EACH MEMBER IS ENTITLED TO 1 VOTE. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS VOTE ON MERGERS, CHARTER CHANGES AND ELECTION OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 WILL BE REVIEWED BY OFFICERS PRIOR TO ITS FILING AND WILL BE PRESENTED AFTER FILING TO THE BOARD OF DIRECTORS AND THE SUPERVISORY COMMITTEE AS AN INFORMATIONAL REPORT. FORM 990, PART VI, SECTION B, LINE 12C AUDITS OF THE HR FUNCTIONS INCLUDE A REVIEW OF WHETHER OR NOT AN EMPLOYEE HAS EXECUTED THE ACKNOWLEDGEMENT OF THE CODE OF ETHICS (INCLUDING CONFLICT OF INTEREST RULES). INTERNAL AUDIT PERFORMS QUARTERLY TESTING TO DETERMINE IF EMPLOYEES ARE PERFORMING TRANSACTIONS ON THEIR OWN DEPOSIT AND LOANS ACCOUNTS. BOARD MEMBERS ARE ASKED ANNUALLY TO REAFFIRM THE EXISTENCE OF THE CODE OF ETHICS RESOLUTION (INCLUDING THE CONFLICT OF INTEREST RULES) FORM 990, PART VI, SECTION B, LINE 15A CEO SALARY IS DETERMINED BY THE BOARD OF DIRECTORS AND BENCHMARKED TO CURRENT COMPENSATION SALARY SURVEY INFORMATION BASED UPON PERFORMANCE AND TENURE. OTHER OFFICERS AND KEY EMPLOYEE SALARIES ARE DETERMINED BY THE CEO AND BENCHMARKED TO CURRENT COMPENSATION SALARY SURVEY INFORMATION PROVIDED BY HUMAN RESOURCES BASED UPON PERFORMANCE AND TENURE. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S FINANCIAL STATEMENTS ARE POSTED ON THE NCUA WEBSITE AND IN BRANCH LOBBIES. GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. THE CONFLICT OF INTEREST POLICY IS NOT AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: EQUITY ACQUIRED IN MERGER 45,001. FORM 990, PART XII, LINE 2C: NO CHANGE FROM PRIOR YEAR. TRUSTONE FINANCIAL FOUNDATION 14601 27TH AVE N PLYMOUTH MN 55447 300560908 FINANCIAL EDUCATION & SCHOLARSHIPS FOR EDUCATION PROGRAMS MN 501(C)(3) LINE 7 TRUSTONE FINANCIAL CREDIT UNION 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0