2017-10-07T10:51:19-07:00 2016-12-31 990 2016-01-01 410693272 CO-OP CREDIT UNION OF MONTEVIDEO CO-O 3202692117 2407 E HWY 7 PO BOX 447 MONTEVIDEO MN 56265 Kayla Reiffenberger President/CEO 3202692117 2017-10-09 66.191.79.2 2016 2021-01-29 14:40:06Z KAYLA REIFFENBERGER 2407 E HWY 7 PO BOX 447 MONTEVIDEO MN 56265 7494747 0 X WWW.CO-OPCREDITUNION.COM X 1940 MN THE CREDIT UNION PROVIDES FINANCIAL SERVICES, INVESTMENT OPTIONS, AND LOANS FOR APPROXIMATELY 13,000 MEMBERS IN WEST CENTRAL MINNESOTA. THE CREDIT UNION HAS LOCATIONS IN MONTEVIDEO, BENSON, CANBY AND WILLMAR. 7 7 54 0 7139 0 0 0 6290912 7118551 306501 376196 0 0 6597413 7494747 0 0 383573 446769 2341307 2410467 0 0 0 1993364 2210988 4718244 5068224 1879169 2426523 164161789 170219570 142161794 145780201 21999995 24439369 THE CREDIT UNION PROVIDES FINANCIAL SERVICES, INVESTMENT OPTIONS, AND LOANS FOR APPROXIMATELY 13,000 MEMBERS IN WEST CENTRAL MINNESOTA. THE CREDIT UNION HAS LOCATIONS IN MONTEVIDEO, BENSON, CANBY AND WILLMAR. 0 0 THE CREDIT UNION PROVIDES FINANCIAL SERVICES, INVESTMENT OPTIONS, AND LOANS FOR APPROXIMATELY 13,000 MEMBERS IN WEST CENTRAL MINNESOTA. THE CREDIT UNION HAS LOCATIONS IN MONTEVIDEO, BENSON, CANBY AND WILLMAR. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 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 0 0 0 1 5149 0 0 54 1 1 1 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 1 1 0 1 1 1 0 0 1 1 0 X KAYLA REIFFENBERGER 3202692117 2407 E HWY 7 PO BOX 447 MONTEVIDEO MN 56265 DOUG OLSON VICE CHAIRPERSON 1 0 X X 1230 0 0 KYLE KRANZ CHAIRPERSON 1 0 X X 1490 0 0 PATRICK CARRUTH BOARD MEMBER 1 0 X 1250 0 0 KORWIN JOHNSON BOARD MEMBER 1 0 X 1250 0 0 MICHAEL MACE SECRETARY 1 0 X X 1450 0 0 PETER SCHMITZ BOARD MEMBER 1 0 X 1350 0 0 ELOISE VALENTINO BOARD MEMBER 1 0 X 1480 0 0 NANCY BORMANN SUPERVISORY CHAIRPERSON 1 0 X 0 0 0 AARON VADNAIS SUPERVISORY MEMBER 1 0 X 0 0 0 JANICE RUNNING SUPERVISORY MEMBER 1 0 X 0 0 0 KAYLA REIFFENBERGER PRESIDENT/CEO AND TREASURER (EFF 11/1/16) 40 X X X 117598 0 7506 LINDA GIVAN PRESIDENT/CEO, TREASURER (RETIRED 11/1/16) 40 0 X X X 211150 0 35108 BRIAN SAMUELSON VICE PRESIDENT OF LENDING 40 0 X 102518 0 27533 440766 0 70147 3 0 1 0 BLUE CROSS BLUE SHIELD OF MN 3535 BLUE CROSS ROAD EAGAN MN 55122 HEALTH INSURANCE FOR EMPLOYEES 301768 FISERV 255 FISERV DRIVE BROOKFIELD WI 53008 COMPUTER SOFTWARE/SUPPLIES 161354 MARCO 4510 HEATHERWOOD ROAD ST CLOUD MN 56301 COMPUTER SERVICES 142721 3 0 MEMBER 522130 7111412 7111412 0 0 NON-MEMBER 522130 7139 0 7139 0 0 0 0 0 7118551 376196 376196 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 7494747 7487608 7139 0 446769 392111 1532945 86034 263139 136238 144801 30261 172470 41616 161935 218515 Provision for Loan Loss 223380 Loan Servicing Expense 158272 Office Operations 952499 Dues 35029 72210 5068224 0 0 0 7329027 11988303 114011387 117615469 163347 153030 5902761 2357175 3514429 3545586 15192000 13298000 21218563 20844342 2733036 2774840 164161789 170219570 1818618 1750272 6951119 6894636 133392057 137135293 142161794 145780201 X 21999995 24439369 0 0 0 0 21999995 24439369 164161789 170219570 2426523 12851 0 0 0 0 X 0 0 0 0 396652 396652 0 3691462 1040857 2650605 0 17465 14424 3041 0 1797182 1301894 495288 0 0 0 0 3545586 NEGOTIABLE CERTIFICATES OF DEPOSIT 12023000 C REVENUE BOND 1275000 C 13298000 CERTIFICATES OF DEPOSIT 11810000 C OTHER INVESTMENTS 9034342 C 20844342 0 MEMBER SHARES ON DEPOSIT 137135293 137135293 X Schedule D, Part X, Line 2 THE CREDIT UNION HAS ADOPTED THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS ON OCTOBER 1, 2009. AS A RESULT OF THIS IMPLEMENTATION THE CREDIT UNION HAS EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2016. X 0 1 0 LINDA GIVAN PRESIDENT/CEO, TREASURER (RETIRED 11/1/16) 193855 0 0 0 23781 0 30927 0 18244 0 266807 0 Schedule J, Part I, Line 3 THE BOARD OF DIRECTORS APPROVES THE SALARY OF THE PRESIDENT/CEO. Schedule J, Part I, Line 4 LINDA GIVAN IS A PARTICIPANT IN A 457(b) PLAN. Form 990, Part VI, Section A, Line 6 THE CREDIT UNION IS OWNED BY ITS MEMBERS WHO MUST MAINTAIN A SHARE ACCOUNT OF AT LEAST $5.00. Form 990, Part VI, Section A, Line 7a THE GOVERNING BODY IS ELECTED BY THE MEMBERS AT THE CREDIT UNION'S ANNUAL MEETING. AT LEAST 15 MEMBERS MUST BE IN ATTENDANCE AT THIS ANNUAL MEETING. Form 990, Part VI, Section B, Line 11b THE GOVERNING BODY DOES NOT REVIEW THE FORM 990. THE CREDIT UNION'S PRESIDENT REVIEWS THE FORM BEFORE IT IS FILED. Form 990, Part VI, Section B, Line 12c THE CREDIT UNION ANNUALLY OBTAINS AN ACKNOWLEDGMENT OF THE CONFLICT OF INTEREST POLICIES WITH BOARD MEMBERS, OFFICERS, AND EMPLOYEES AND REVIEWS THESE. Form 990, Part VI, Section B, Line 15 A SALARY REVIEW COMMITTEE OF THE GOVERNING BODY REVIEWS THE RANGES OF SALARIES FOR THE VARIOUS POSITIONS AND COMPARES THAT TO AN ANNUAL STATISTICAL REPORT. THE GOVERNING BOARD SETS THE SALARY FOR THE PRESIDENT AND ALSO SETS THE SALARY RANGES FOR ALL POSITIONS IN THE CREDIT UNION. Form 990, Part VI, Section C, Line 19 COPIES OF FORMS 990 AND 990-T, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. THE CREDIT UNION KEEPS COPIES OF ITS ANNUAL FINANCIAL STATEMENTS IN THE LOBBY AT ALL BRANCHES FOR THE MEMBERS TO TAKE IF THEY WOULD LIKE.