Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1944.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Who runs it and what they're paid
12 people listed on the 990; $1.2M paid to officers and key staff.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Doug Hallstrom | $454,920 | $429,334 | $380,458 | $340,726 | $318,734 |
| John Wendland | $195,932 | $205,603 | $176,012 | $158,914 | $183,093 |
| Rick Borchardt | $152,875 | $129,848 | $120,081 | $105,062 | — |
| Kirstin Bruss | $150,091 | $123,134 | $115,291 | $105,723 | — |
| Todd Sanders | $149,093 | $133,407 | $132,101 | — | — |
| Anita Quaglia | $136,914 | $107,390 | — | — | — |
| Brian Anderson | — | — | $130,657 | — | — |
| Chris Goebel | — | — | — | $103,890 | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
Programs and updates
Promotes saving and offers loans to its 33,860 members.
Questions for Minnco Credit Union
Your first name shows with your question. Minnco Credit Union answers here, for everyone.
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Organization collected premiums from members for credit protection and earned revenue based on member credit card activity.
Organization provided account-level services in exchange for fees.
Organization granted 19,872 loans to credit seeking members.
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $155.2M | $164.0M |
| Land, buildings, equipmentLn 10c | $17.9M | $16.5M |
| Total assetsLn 16 | $518.0M | $523.4M |
| LiabilitiesLn 26 | $486.5M | $488.3M |
| Net assetsLn 32 | $31.5M | $35.1M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $0 | |||
| Grants to domestic individualsLn 2 | $0 | |||
| Grants and assistance to foreign recipientsLn 3 | $0 | |||
| Benefits paid to or for membersLn 4 | $0 | |||
| Pay of current officers, directors and key staffLn 5 | $457K | |||
| Pay of disqualified personsLn 6 | $0 | |||
| Other salaries and wagesLn 7 | $5.8M | |||
| Pension plan contributionsLn 8 | $495K | |||
| Other employee benefitsLn 9 | $1.2M | |||
| Payroll taxesLn 10 | $526K | |||
| Management feesLn 11a | $0 | |||
| Legal feesLn 11b | $91K | |||
| Accounting feesLn 11c | $125K | |||
| Lobbying feesLn 11d | $0 | |||
| Professional fundraising feesLn 11e | $0 | |||
| Investment management feesLn 11f | $0 | |||
| Other fees for servicesLn 11g | $0 | |||
| Advertising and promotionLn 12 | $188K | |||
| Office expensesLn 13 | $1.1M | |||
| Information technologyLn 14 | $978K | |||
| RoyaltiesLn 15 | $0 | |||
| OccupancyLn 16 | $842K | |||
| TravelLn 17 | $62K | |||
| Travel and entertainment for public officialsLn 18 | $0 | |||
| Conferences, conventions and meetingsLn 19 | $45K | |||
| InterestLn 20 | $7.5M | |||
| Payments to affiliatesLn 21 | $62K | |||
| Depreciation, depletion and amortizationLn 22 | $489K | |||
| InsuranceLn 23 | $0 | |||
| Other expenses (24a–d)Ln 24 | $3.7M | |||
| All other expensesLn 24e | $418K | |||
| Total functional expensesLn 25 | $24.1M | $0 | $0 | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest Viewing | $27.0M | $24.1M | $2.9M | $35.1M | 990 PDF |
| FY2023 | $22.0M | $19.0M | $3.1M | $31.5M | 990 PDF |
| FY2022 | $18.2M | $13.4M | $4.9M | $26.6M | 990 PDF |
| FY2021 | $17.3M | $12.1M | $5.2M | $40.6M | 990 PDF |
| FY2020 | $16.1M | $13.7M | $2.4M | $38.4M | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $26,953,300 revenue, 12 lines filed
Part VI · Governance 7 of 7 board members independent, 3 to look at
Part VIII · Statement of revenue $26,953,300 across 9 lines filed
Part IX · Statement of functional expenses $24,074,295 across 31 lines filed
Part X · Balance sheet $523,432,126 assets, 13 lines filed
Part XI · Reconciliation of net assets $35,123,666 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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