2022-12-11T16:42:07-05:00 2021-12-31 461065712 BRENT WOOKEY CPA PO BOX 1512 LA CROSSE WI 546021512 990 2021-01-01 416036331 DANFOSS EMPLOYEES CREDIT UNION DANF 9529377175 14900 TECHNOLOGY DRIVE EDEN PRAIRIE MN 55344 ANN HEALEY-ALLEN PRESIDENT/CEO 9529377175 2022-11-05 true ANN HEALEY-ALLEN 999009999 BRENT WOOKEY CPA P00062439 6087920843 2022-12-11 X 2021 2022-09-23 18:48:47Z X X ANN HEALEY-ALLEN 14900 TECHNOLOGY DRIVE EDEN PRAIRIE MN 55344 138612 false X WWW.DANFOSSCU.COM X 1949 MN MEET OUR MEMBERS' NEEDS BY PROVIDING SERVICE WITH A PERSONAL TOUCH, CULTIVATING CLOSE RELATIONSHIPS, OFFERING FINANCIAL GUIDANCE, AND SAFEGUARDING OUR MEMBERS' ASSETS. 5 5 1 10 192 6055 0 133455 134044 5044 4206 317 362 144871 138612 0 0 64831 66833 0 0 100631 71713 165462 138546 -20591 66 2569943 3017621 2305465 2753077 264478 264544 MEET OUR MEMBERS' NEEDS BY PROVIDING SERVICE WITH A PERSONAL TOUCH, CULTIVATING CLOSE RELATIONSHIPS, OFFERING FINANCIAL GUIDANCE, AND SAFEGUARDING OUR MEMBERS' ASSETS. false false THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED NO NEW DEPOSIT ACCOUNTS IN 2021. AS OF 12/31/21 WE HAD 361 MEMBERS. THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 51 NEW LOANS TO OUR MEMBERS DURING 2021. AS OF 12/31/21 WE HAD 216 LOANS TO OUR MEMBERS. false false false false false false false false false true false false false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 72 0 true 1 true false false false false false false false false X 5 5 false false true false true true true true true false false false true true true false true true false false X ANN HEALEY-ALLEN 9529377175 14900 TECHNOLOGY DRIVE EDEN PRAIRIE MN 55344 ANN HEALEY-ALLEN PRESIDENT/CE 40.00 X 61900 0 0 STEVE ZUMBUSCH CHAIRMAN 0.50 X X 0 0 0 BRAD HIMLE VICE CHAIR 0.25 X X 0 0 0 JENNIFER HUFFMAN TREASURER 0.25 X X 0 0 0 PETER LAUER SECRETARY 0.25 X X 0 0 0 BRAD DIEKMANN DIRECTOR 0.25 X 0 0 0 61900 false false false INTEREST ON LOANS 522130 79440 79440 MEMBER FEE INCOME 522130 37690 37690 OTHER MEMBER RELATED INCOME 522130 16722 16722 FEE & INSURANCE INCOME 520000 192 192 134044 4206 4206 362 362 138612 133852 192 4568 61900 85 4848 2765 53418 5480 160 102 6133 DIVIDENDS EXPENSE 2025 PROVISION FOR LOAN LOSS 1630 138546 0 0 0 46971 177890 1035581 1235277 1468482 1550646 1114 1121 989 68 921 24500 24500 -6705 27266 2569943 3017621 17349 16480 2288116 2736597 2305465 2753077 X 264478 264544 264478 264544 2569943 3017621 66 X false false 989 68 921 921 MEMBER SHARES & DEPOSITS 2736597 2736597 FORM 990, PAGE 1, ITEM B THE ORIGINAL 990 E-FILED FOR 2021 DID NOT INCLUDE A COPY OF THE NAME CHANGE AMENDMENT AND GOVERNMENT APPROVAL. THIS AMENDED 990 HAS THE NAME CHANGE AND APPROVAL DOCUMENATION ATTACHED AS A PDF FILE. THERE ARE NO OTHER CHANGES TO THE RETURN. FORM 990, PAGE 6, PART VI, LINE 4 THE CREDIT UNION NAME WAS CHANGED TO DANFOSS EMPLOYEES CREDIT UNION DURNG 2021. THE BYLAWS WERE UPDATED FOR THIS CHANGE. FORM 990, PAGE 6, PART VI, LINE 6 THE ORGANIZATION HAS MEMBERS. TO BE A MEMBER, ONE MUST HAVE A SHARE (SAVINGS) ACCOUNT AT THE CREDIT UNION. FORM 990, PAGE 6, PART VI, LINE 7A THE BOARD OF DIRECTORS IS ELECTED BY THE CREDIT UNION MEMBERS. EACH MEMBER HAS ONE VOTE. FORM 990, PAGE 6, PART VI, LINE 7B A MEMBER VOTE IS REQUIRED FOR DECISIONS WHICH ARE BEYOND THE AUTHORITY OF THE BOARD OF DIRECTORS. ITEMS WHICH REQUIRE A MEMBERSHIP VOTE ARE OUTLINED AND SPECIFIED IN OUR BYLAWS. EACH MEMBER HAS ONE VOTE. FORM 990, PAGE 6, PART VI, LINE 11B MANAGEMENT PROVIDES NECESSARY DATA TO INDEPENDENT CPA WHO COMPLETES THE RETURN. MANAGEMENT REVIEWS THE RETURN FOR ACCURACY, AND THEN AUTHORIZES CPA TO E-FILE THE APPROVED RETURN. FORM 990, PAGE 6, PART VI, LINE 12C CONFLIECT OF INTEREST POLICY AND POTENTIAL ISSUES ARE REVIEWED AT BOARD MEETINGS. FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE COMPENSATION FOR THE PRESIDENT/CEO ANNUALLY. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO MEMBERS UPON REQUEST.