2020-11-16T22:16:53-06:00 2019-12-31 420714325 RSM US LLP 801 NICOLLET MALL WEST TOWER STE 1100 MINNEAPOLIS MN 554022526 990 2019-01-01 410800081 NOVATION CREDIT UNION NOVA 6517398080 500 IMPERIAL AVE OAKDALE MN 551287151 SHARON HANSEN CFO 6517398080 2020-11-16 1 KACIE MCEWEN P01599614 6123324300 2020-11-16 68.47.31.197 2020-11-16 10:18:57 CS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 03529DF6567CFB0D20C3C8C4F0F8DA9C5BDC3671 2019 2021-04-22 16:20:28Z KRISTI MUKOMELA 500 IMPERIAL AVE OAKDALE MN 551287151 8044478 0 X WWW.NOVATION.ORG X COOPERATIVE 1954 MN NOVATION CREDIT UNION IS A NOT-FOR-PROFIT FINANCIAL COOPERATIVE PROVIDING 15,552 MEMBER OWNERS WITH COMPETITIVELY PRICED FINANCIAL SOLUTIONS INCLUDING REAL ESTATE AND CONSUMER LOANS, CREDIT CARDS, SAVINGS, CHECKING, AND INVESTMENTS. ADDITIONAL SERVICES INCLUDE ATM/DEBIT CARDS, ATMS, ONLINE BANKING, MOBILE BANKING, BILL PAY AND MORE. 9 9 35 13 37717 -37587 0 0 6948223 7795433 131232 249045 0 0 7079455 8044478 0 0 356143 1047435 130356 2384480 0 0 0 5540363 3687111 6026862 7119026 1052593 925452 144238783 162517262 131989390 149342417 12249393 13174845 TO OFFER PERSONALIZED FINANCIAL SOLUTIONS EXCLUSIVELY TO 3M EMPLOYEES AND THEIR FAMILIES 0 0 PROVIDED OVER 2,464 VEHICLE, HOME EQUITY, 1ST MORTGAGE, STUDENT LOANS AND OTHER LOANS FOR OVER $42.7 MILLION TO MEMBER OWNERS, ORIGINATED 112 1ST MORTGAGES TOTALING OVER $26.78 MILLION AND SOLD TO THE SECONDARY MARKET, AND ALSO PROCESSED OVER 250,000 VISA SALES TRANSACTIONS TOTALING $16.65 MILLION FOR MEMBER OWNERS. (15,552 MEMBER OWNERS). PROVIDED COMPETETIVE SAVINGS AND INVESTMENT OPPORTUNITIES, AND RETIREMENT PLANNING SERVICES TO MEMBER OWNERS (15,552 MEMBER OWNERS). CHECKING SERVICES THAT INCLUDE ATM, DEBIT CARDS, DIRECT DEPOSIT, ONLINE BANKING, BILLPAY, ACH, AND MOBILE PAYMENTS TO MEMBER OWNERS (15,552 MEMBER OWNERS). 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 4726 0 1 35 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 0 1 1 1 0 0 X SHARON HANSEN 6517398080 500 IMPERIAL AVE OAKDALE MN 551287151 KRISTI MUKOMELA PRESIDENT 50.00 X 220439 0 19981 SHARON HANSEN CHIEF FINANCIAL OFFICER/TREASURER 50.00 X 147065 0 110137 SCOTT HENNING CHIEF MARKETING OFFICER 50.00 X 121483 0 41535 NICK ALTAVILLA VICE PRESIDENT - OPERATIONS 50.00 X 103061 0 30056 MATT JUHL VICE CHAIR 1.00 X X 1200 0 0 MIKE KRONEBUSCH CHAIR 1.00 X X 1200 0 0 DAWN MCGINLEY DIRECTOR 1.00 X 1100 0 0 SHAWN SCHOW SECRETARY 1.00 X X 1100 0 0 DAN CARLSON DIRECTOR 1.00 X 900 0 0 JOHN SCHWALBACH DIRECTOR 1.00 X 800 0 0 THOMAS HANGGE CHAIR 1.00 X X 600 0 0 MARY EDINGER DIRECTOR 1.00 X 600 0 0 SYLVIA PROPPS DIRECTOR 1.00 X 600 0 0 NANCY SELESKI DIRECTOR 1.00 X 600 0 0 RHONDA GRAVES DIRECTOR 1.00 X 300 0 0 601048 0 201709 4 0 1 0 PSCU 560 CARILLON PKWY ST PETERSBURG FL 33716 CARD PROCESSING 848295 FISERV 255 FISERV DRIVE BROOKFIELD WI 53045 ACCOUNT PROCESSING, DOCUMENT 831340 INSPERITY 19001 CRESCENT SPRINGS DR KINGSWOOD TX 77339 PEO SERVICES 481419 NCR 864 SPRING STREET ATLANTA GA 30308 E-SERVICES 281619 LENDING SOLUTIONS 2200 POINT BLVD ELGIN IL 60123 E-SERVICES 118507 5 LOAN INTEREST INCOME 522100 5437080 5437080 OTHER INCOME 522100 2018620 1988878 29742 FEE INCOME 522100 339733 331758 7975 7795433 249045 249045 8044478 7757716 37717 249045 1047435 514671 1724978 114311 30520 52030 481419 88364 131144 824776 261118 15779 15100 13054 291877 35537 LOAN SERVICING 761069 ATM/DEBIT CARD AND MACH 415817 LOAN LOSS PROVISION 68140 231887 7119026 1100146 1053333 2194554 18419204 133244251 135094566 768148 549293 5662149 3194369 2491434 2467780 4440250 4933086 144238783 162517262 1182390 1166667 490000 130317000 148175750 131989390 149342417 X 0 0 0 0 12249393 13174845 12249393 13174845 144238783 162517262 925452 0 X 0 1 X 1 0 734664 734664 1929808 1004178 925630 316652 228840 87812 2598955 1919928 679027 82070 41423 40647 2467780 REGULAR SHARES 40391171 CHECKING ACCOUNTS 49708587 ALL OTHER SHARES AND DEPOSITS 58075992 148175750 X X X 0 1 0 KRISTI MUKOMELA PRESIDENT 191387 0 29052 0 0 0 11941 0 11590 0 243970 0 0 0 SHARON HANSEN CHIEF FINANCIAL OFFICER/TREASURER 130858 0 16207 0 0 0 104202 0 10434 0 261701 0 0 0 SCOTT HENNING CHIEF MARKETING OFFICER 108620 0 12863 0 0 0 25285 0 16250 0 163018 0 0 0 PART I, LINE 4B THE FOLLOWING WERE PARTICIPANTS IN A NON-QUALIFIED 457(F) PLAN: SHARON HANSEN SCOTT HENNING NICK ALTAVILLA THERE WERE NO DISTRIBUTIONS DURING 2019. TRACY JUHL SPOUSE OF BOARD MEMBER 19176 COMPENSATION FOR PART-TIME EMPLOYEE 0 FORM 990, PART I, LINE 5 NOVATION CREDIT UNION HAS A CLIENT SERVICE AGREEMENT WITH INSPERITY. AS A RESULT, INSPERITY IS THE EMPLOYER FOR THE PURPOSE OF PAYING WAGES. INSPERITY ALSO REMITS ALL TAXES AND FILES ALL RETURNS UNDER THEIR NAME AND EIN 76-0689539. INSPERITY IS A PEO (PROFESSIONAL EMPLOYMENT ORGANIZATION) AND PROVIDES HUMAN RESOURCE SERVICES TO THEIR CLIENTS. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY MANAGEMENT. MANAGEMENT AND BOARD DISCUSS THE PROCESS USED TO CREATE THE FORM 990. FORM 990, PART VI, SECTION B, LINE 15A A COMPENSATION COMMITTEE REVIEWS SURVEY DATA AND PROGRESS ON CREDIT UNION GOALS AND RECOMMENDS CEO COMPENSATION CHANGES TO THE FULL BOARD FOR APPROVAL. THE CEO REVIEWS SURVEY DATA AND PROGRESS ON CREDIT UNION GOALS IN DETERMINING MANAGEMENT AND OTHER EMPLOYEE COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION LOBBY. GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST.