Liabilities / Assets
34th percentile
Higher debt load relative to assets than 34% of similar nonprofits.
Federated Employees Credit Union
990 • Fiscal year 2013 • EIN 41-0327335
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.86x
Liabilities / Revenue
94th percentile
Higher debt load relative to revenue than 94% of similar nonprofits.
Net Margin
70th percentile
Higher net margin than 70% of similar nonprofits.
Top Officer Pay
35th percentile
Higher top officer pay than 35% of similar nonprofits.
Top officer pay equals 7.2% of source-year revenue.
Asset Growth
14th percentile
Faster asset growth than 14% of similar nonprofits.
Revenue Growth
20th percentile
Faster revenue growth than 20% of similar nonprofits.
Balance Sheet
Assets
Down$41,351,441
Down $1,416,653 (-3.3%) from 2012
Net Assets
Up$5,716,210
Up $133,554 (+2.4%) from 2012
Liabilities
Down$35,635,231
Down $1,550,207 (-4.2%) from 2012
Revenue And Expenses
Revenue
$1,144,645
No earlier filing loaded for comparison.
Expenses
Down$1,011,091
Down $73,494 (-6.8%) from 2012
Net Income
$133,554
No earlier filing loaded for comparison.
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2013 to Dec 31, 2013
- Signed
- May 6, 2014
- Return Version
- 2013v3.0
- Gross Receipts
- $1,145,101
Mission and Program Overview
Mission
To provide competitive, progressive financial services that meet the needs of our members while providing financial education and maintaining financial stability.
To provide competitive progressive financial services that meet the needs of our members, while providing financial education and maintaining financial stability.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Other Notes and Loans Receivable, Net | $19,945,743 | $20,459,964 | ▲ $514,221 |
| Savings and Temporary Cash Investments | $20,659,708 | $16,727,854 | ▼ $3,931,854 |
| Rtn Earn Endowment Incm Other Fnds | $5,582,656 | $5,716,210 | ▲ $133,554 |
| Investments Other Securities | $1,500,000 | $3,500,000 | ▲ $2,000,000 |
| Land, Buildings, and Equipment, Net | $124,249 | $113,220 | ▼ $11,029 |
| Cash and Non-Interest-Bearing Accounts | $114,919 | $99,417 | ▼ $15,502 |
| Prepaid Expenses and Deferred Charges | $4,172 | $30,377 | ▲ $26,205 |
| Investments Program Related | $12,500 | $12,500 | → $0 |
| Accounts Receivable | $0 | $500 | ▲ $500 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $0 | $0 | → $0 |
| Cap Stk Tr Prin Current Funds | $0 | $0 | → $0 |
| Total Assets | $42,768,094 | $41,351,441 | ▼ $1,416,653 |
| Other Assets Total | $406,803 | $407,609 | ▲ $806 |
| Liabilities | |||
| Other Liabilities | $37,090,884 | $35,584,669 | ▼ $1,506,215 |
| Accounts Payable and Accrued Expenses | $94,554 | $50,562 | ▼ $43,992 |
| Total Liabilities | $37,185,438 | $35,635,231 | ▼ $1,550,207 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $5,582,656 | $5,716,210 | ▲ $133,554 |
| Total Liabilities and Net Assets / Fund Balance | $42,768,094 | $41,351,441 | ▼ $1,416,653 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $113,220 | $82,354 | $195,574 |
| Other Securities | $3,500,000 | - | - |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Annette Arndt | Manager | FT | $60,582 | $21,659 | $82,241 |
| Thomas Nesvig | Director/employee | PT | $19,148 | - | $19,148 |
| Jerah Flynn | Treasurer | PT | $6,813 | - | $6,813 |
| Marcia Pitzenberger | Asst Treasurer | - | $2,555 | - | $2,555 |
Board Members and Trustees
| Name | Title |
|---|---|
| Kyle Wolfe | Chairperson |
| John Hylle | Vice Chairperson |
| Shannon Blatti | Director |
| Shawn Kunkel | Secretary |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $988,734
- Investment Income
- $129,751
- Other Revenue
- $26,160
- Change in Net Assets
- $133,554
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $542,920 |
| Salaries, Compensation, and Employee Benefits | $304,789 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Benefits to Members | - | - | - | $163,382 |
| Other Salaries and Wages | - | - | - | $158,586 |
| Current Officers, Directors, Trustees, and Key Employees | - | - | - | $110,757 |
| Office Expenses | - | - | - | $93,776 |
| All Other Expenses | - | - | - | $35,746 |
| Other Expenses | - | - | - | $28,924 |
| Depreciation Depletion | - | - | - | $26,404 |
| Occupancy | - | - | - | $26,168 |
| Payroll Taxes | - | - | - | $20,692 |
| Other Employee Benefits | - | - | - | $14,754 |
| Travel | - | - | - | $10,274 |
| Total Functional Expenses | $0 | $0 | $0 | $1,011,091 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Subject to proxy tax
- No
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Regular Shares | $13,540,493 |
| Money Market | $13,009,359 |
| Share Certificates | $8,371,074 |
| Share Drafts | $663,743 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Backup withholding compliance
- Yes
- Business relationship with family members
- No
- Business relationship with organization members
- No
- Material changes to governing documents
- No
- Compensation from other sources disclosed
- No
- CEO compensation reviewed
- Yes
- Other officer compensation reviewed
- Yes
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- No
- Key decisions subject to board approval
- Yes
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Section A, Line 6
“The credit union is comprised of a single class of approximately 4,901 member-owners, each of which has equal rights in ownership, governence and voting rights at the annual meetings, with the exception of the member-owners who are elected to the board of directors.”
Form 990, Part VI, Section A, Line 7A
“Credit union members shall be authorized to vote for election of directors, credit committee and supervisory committee members for three year terms and amendments to bylaws at annual and special meetings. A member shall have but a single vote regardless of the amount of share holdings.”
Form 990, Part VI, Section A, Line 7B
“Any amendments to the certificate of organization or bylaws shall be approved by two-thirds of the vote of the members actually voting, provided the members actually voting constitute a quorum. In addition, the board may amend these bylaws by a two-thirds vote and shall report any amendments to the members at the next annual meeting.”
Form 990, Part VI, Section B, Line 11
“The board treasurer will review the form 990 for accuracy before it is filed with the irs.”
Form 990, Part VI, Section B, Line 12C
“The credit union has policies in place prohibiting conflicts of interest such as serving on a board of directors for a competitor, use of the credit union position for personal or financial advantage, accepting bribes or solicitations. Anyone in violation of these policies would be subject to termination of their position.”
Form 990, Part VI, Section B, Line 15
“For 15a: the manager's salary is based on comparable data with credit unions of similar size and employee structure. Cuna's annual salary compensation survey is used as a source. Performance is also a factor in compensation. For 15b: the compensation for other officers and key employees is based on salary data received from the compensation manager of our seg company.”
Form 990, Part VI, Section C, Line 19
“The financial statements are made available to the public by posting them on the credit union web site in the about us section of www.fedecu.com. They can also be reviewed on paper any time by request.”
Filing and Contact Details
Filer
- EIN
- 41-0327335
- Phone
- 5074555430
Signing Officer
- Name
- Jerah Flynn
- Title
- Treasurer
- Phone
- 5074555430
- Signed
- 2014-05-06
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Kyle Wolfe
- Formed
- 1934
- Legal Domicile
- Mn
- Voting Board Members
- 7
- Independent Board Members
- 7
- Employees
- 8
- Volunteers
- 13
Preparer
- Preparer
- Tanya Medgaarden
- Phone
- 5074347000
Raw XML Appendix353 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
| Path | # | Value |
|---|---|---|
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| IRS990/AccountsPayableAccrExpnssGrp/EOYAmt | 0 | 50562 |
| IRS990/AccountsReceivableGrp/BOYAmt | 0 | 0 |
| IRS990/AccountsReceivableGrp/EOYAmt | 0 | 500 |
| IRS990/ActivitiesConductedPrtshpInd | 0 | 0 |
| IRS990/ActivityOrMissionDesc | 0 | TO PROVIDE COMPETITIVE PROGRESSIVE FINANCIAL SERVICES THAT MEET THE NEEDS OF OUR MEMBERS, WHILE PROVIDING FINANCIAL EDUCATION AND MAINTAINING FINANCIAL STABILITY. |
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| IRS990/AnnualDisclosureCoveredPrsnInd | 0 | 1 |
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| IRS990/BooksInCareOfDetail/PhoneNum | 0 | 5074567411 |
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| IRS990/BooksInCareOfDetail/USAddress/State | 0 | MN |
| IRS990/BooksInCareOfDetail/USAddress/ZIPCode | 0 | 55060 |
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| IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt | 0 | 0 |
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| IRS990/CashNonInterestBearingGrp/EOYAmt | 0 | 99417 |
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| IRS990/Desc | 0 | FEDERATED EMPLOYEES CREDIT UNION RETURNS FUNDS TO MEMBERS IN THE FORM OF DIVIDENDS AND INTEREST WHICH ARE PAID ON ALL SHARE AND CERTIFICATE ACCOUNTS IN THE AMOUNT OF $163,381.65. |
| IRS990/DescribedInSection501c3Ind | 0 | 0 |
| IRS990/DisregardedEntityInd | 0 | 0 |
| IRS990/DocumentRetentionPolicyInd | 0 | 1 |
| IRS990/DonorAdvisedFundInd | 0 | 0 |
| IRS990/ElectionOfBoardMembersInd | 0 | 1 |
| IRS990/EmployeeCnt | 0 | 8 |
| IRS990/EmploymentTaxReturnsFiledInd | 0 | 1 |
| IRS990/FamilyOrBusinessRlnInd | 0 | 0 |
| IRS990/FederalGrantAuditRequiredInd | 0 | 0 |
| IRS990/ForeignActivitiesInd | 0 | 0 |
| IRS990/ForeignFinancialAccountInd | 0 | 0 |
| IRS990/ForeignOfficeInd | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 0 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 1 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 2 | 5.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 3 | 3.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 4 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 5 | 20.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 6 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 7 | 40.00 |
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| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 1 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 2 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 3 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 4 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 5 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 6 | X |
| IRS990/Form990PartVIISectionAGrp/OfficerInd | 0 | X |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 3 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 5 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 6 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 7 | 21659 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 0 | KYLE WOLFE |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 1 | JOHN HYLLE |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 2 | JERAH FLYNN |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 3 | MARCIA PITZENBERGER |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 4 | SHAWN KUNKEL |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 5 | THOMAS NESVIG |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 6 | SHANNON BLATTI |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 7 | ANNETTE ARNDT |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 2 | 6813 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 3 | 2555 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 5 | 19148 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 6 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 7 | 60582 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 3 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 5 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 6 | 0 |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | ASST TREASURER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | SECRETARY |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | DIRECTOR/EMPLOYEE |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | DIRECTOR |
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| IRS990/Form990ProvidedToGvrnBodyInd | 0 | 0 |
| IRS990/FormationYr | 0 | 1934 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | 0 |
| IRS990/FSAuditedInd | 0 | 0 |
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| IRS990/GainOrLossGrp/OtherAmt | 0 | -456 |
| IRS990/GamingActivitiesInd | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 7 |
| IRS990/GrantsToIndividualsInd | 0 | 0 |
| IRS990/GrantsToOrganizationsInd | 0 | 0 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossReceiptsAmt | 0 | 1145101 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 0 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 0 |
| IRS990/IndependentVotingMemberCnt | 0 | 7 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 130207 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 130207 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
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| IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt | 0 | 3500000 |
| IRS990/InvestmentsProgramRelatedGrp/BOYAmt | 0 | 12500 |
| IRS990/InvestmentsProgramRelatedGrp/EOYAmt | 0 | 12500 |
| IRS990/IRPDocumentCnt | 0 | 3778 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
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| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 124249 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 113220 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 195574 |
| IRS990/LegalDomicileStateCd | 0 | MN |
| IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt | 0 | 456 |
| IRS990/LoanOutstandingInd | 0 | 0 |
| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 1 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 1 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | TO PROVIDE COMPETITIVE AND PROGRESSIVE FINANCIAL SERVICES THAT MEET THE NEEDS OF OUR MEMBERS, WHILE PROVIDING FINANCIAL EDUCATION AND MAINTAINING FINANCIAL STABILITY. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 5582656 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 5716210 |
| IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt | 0 | -456 |
| IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt | 0 | -456 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 26168 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 93776 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501cInd | 0 | X |
| IRS990/OrgDoesNotFollowSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 406803 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 407609 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 14754 |
| IRS990/OtherExpensesGrp/Desc | 0 | LOAN SERVICING EXPENSES |
| IRS990/OtherExpensesGrp/Desc | 1 | PROFESSIONAL & OUTSIDE |
| IRS990/OtherExpensesGrp/Desc | 2 | PROVISION FOR LOAN LOSS |
| IRS990/OtherExpensesGrp/Desc | 3 | NCUSIF EXPENSE |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 173179 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 102321 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 46128 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 28924 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 37090884 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 35584669 |
| IRS990/OtherOrganizationDsc | 0 | CU |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 0 | 900099 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | OTHER NON-OPERATING IN |
| IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt | 0 | 26160 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 26160 |
| IRS990/OtherRevenueTotalAmt | 0 | 26160 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 158586 |
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| IRS990/OthNotesLoansReceivableNetGrp/EOYAmt | 0 | 20459964 |
| IRS990/OwnWebsiteInd | 0 | X |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 20692 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt | 0 | 0 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt | 0 | 0 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 4172 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 30377 |
| IRS990/PrincipalOfficerNm | 0 | KYLE WOLFE |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 900099 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 1 | 522100 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | INTEREST INCOME |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | OTHER INCOME & FEES |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 839638 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 149096 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 839638 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 149096 |
| IRS990/ProgSrvcAccomActy2Grp/Desc | 0 | FEDERATED EMPLOYEES CREDIT UNION FOCUSES ON PROVIDING SAVINGS DEPOSIT SERVICES, ORIGINATING NEW LOANS AND SERVICING THE LOAN PORTFOLIO FOR MEMBERS. |
| IRS990/ProgSrvcAccomActy3Grp/Desc | 0 | RECORDING MEMBER ACCOUNT ACTIVITY AND PROVIDING ACCESS TO MEMBERS TO THEIR ACCOUNTS VIA HOME BANKING, ATM NETWORKS AND IN PERSON AT THE CREDIT UNION OFFICE. |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 217153 |
| IRS990/PYContributionsGrantsAmt | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | 140684 |
| IRS990/PYOtherExpensesAmt | 0 | 582391 |
| IRS990/PYOtherRevenueAmt | 0 | 26160 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 1082251 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 164510 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 285041 |
| IRS990/PYTotalExpensesAmt | 0 | 1084585 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 1249095 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 133554 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 0 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 1 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 0 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt | 0 | 5582656 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt | 0 | 5716210 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 20659708 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 16727854 |
| IRS990/ScheduleBRequiredInd | 0 | 0 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 113220 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 82354 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 195574 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 13540493 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 13009359 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 2 | 663743 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 3 | 8371074 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | REGULAR SHARES |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | MONEY MARKET |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 2 | SHARE DRAFTS |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 3 | SHARE CERTIFICATES |
| IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt | 0 | 3500000 |
| IRS990ScheduleD/OtherSecuritiesGrp/Desc | 0 | HELD TO MATURITY SECURITIES |
| IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd | 0 | C |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 113220 |
| IRS990ScheduleD/TotalBookValueSecuritiesAmt | 0 | 3500000 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 35584669 |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | THE CREDIT UNION IS COMPRISED OF A SINGLE CLASS OF APPROXIMATELY 4,901 MEMBER-OWNERS, EACH OF WHICH HAS EQUAL RIGHTS IN OWNERSHIP, GOVERNENCE AND VOTING RIGHTS AT THE ANNUAL MEETINGS, WITH THE EXCEPTION OF THE MEMBER-OWNERS WHO ARE ELECTED TO THE BOARD OF DIRECTORS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | CREDIT UNION MEMBERS SHALL BE AUTHORIZED TO VOTE FOR ELECTION OF DIRECTORS, CREDIT COMMITTEE AND SUPERVISORY COMMITTEE MEMBERS FOR THREE YEAR TERMS AND AMENDMENTS TO BYLAWS AT ANNUAL AND SPECIAL MEETINGS. A MEMBER SHALL HAVE BUT A SINGLE VOTE REGARDLESS OF THE AMOUNT OF SHARE HOLDINGS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | ANY AMENDMENTS TO THE CERTIFICATE OF ORGANIZATION OR BYLAWS SHALL BE APPROVED BY TWO-THIRDS OF THE VOTE OF THE MEMBERS ACTUALLY VOTING, PROVIDED THE MEMBERS ACTUALLY VOTING CONSTITUTE A QUORUM. IN ADDITION, THE BOARD MAY AMEND THESE BYLAWS BY A TWO-THIRDS VOTE AND SHALL REPORT ANY AMENDMENTS TO THE MEMBERS AT THE NEXT ANNUAL MEETING. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | THE BOARD TREASURER WILL REVIEW THE FORM 990 FOR ACCURACY BEFORE IT IS FILED WITH THE IRS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | THE CREDIT UNION HAS POLICIES IN PLACE PROHIBITING CONFLICTS OF INTEREST SUCH AS SERVING ON A BOARD OF DIRECTORS FOR A COMPETITOR, USE OF THE CREDIT UNION POSITION FOR PERSONAL OR FINANCIAL ADVANTAGE, ACCEPTING BRIBES OR SOLICITATIONS. ANYONE IN VIOLATION OF THESE POLICIES WOULD BE SUBJECT TO TERMINATION OF THEIR POSITION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | FOR 15A: THE MANAGER'S SALARY IS BASED ON COMPARABLE DATA WITH CREDIT UNIONS OF SIMILAR SIZE AND EMPLOYEE STRUCTURE. CUNA'S ANNUAL SALARY COMPENSATION SURVEY IS USED AS A SOURCE. PERFORMANCE IS ALSO A FACTOR IN COMPENSATION. FOR 15B: THE COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES IS BASED ON SALARY DATA RECEIVED FROM THE COMPENSATION MANAGER OF OUR SEG COMPANY. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | THE FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC BY POSTING THEM ON THE CREDIT UNION WEB SITE IN THE ABOUT US SECTION OF WWW.FEDECU.COM. THEY CAN ALSO BE REVIEWED ON PAPER ANY TIME BY REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PART VI, SECTION A, LINE 6 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PART VI, SECTION A, LINE 7A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PART VI, SECTION A, LINE 7B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PART VI, SECTION B, LINE 11 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PART VI, SECTION B, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PART VI, SECTION B, LINE 15 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | FORM 990, PART VI, SECTION C, LINE 19 |
| IRS990/SchoolOperatingInd | 0 | 0 |
| IRS990/SignificantChangeInd | 0 | 0 |
| IRS990/SignificantNewProgramSrvcInd | 0 | 0 |
| IRS990/SubjectToProxyTaxInd | 0 | 0 |
| IRS990/TaxablePartyNotificationInd | 0 | 0 |
| IRS990/TaxExemptBondsInd | 0 | 0 |
| IRS990/TempOrPermanentEndowmentsInd | 0 | 0 |
| IRS990/TerminateOperationsInd | 0 | 0 |
| IRS990/TotalAssetsBOYAmt | 0 | 42768094 |
| IRS990/TotalAssetsEOYAmt | 0 | 41351441 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 42768094 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 41351441 |
| IRS990/TotalCompGreaterThan150KInd | 0 | 0 |
| IRS990/TotalEmployeeCnt | 0 | 8 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 1011091 |
| IRS990/TotalGrossUBIAmt | 0 | 0 |
| IRS990/TotalLiabilitiesBOYAmt | 0 | 37185438 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 35635231 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 37185438 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 35635231 |
| IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt | 0 | 5582656 |
| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 5716210 |
| IRS990/TotalOtherCompensationAmt | 0 | 21659 |
| IRS990/TotalProgramServiceRevenueAmt | 0 | 988734 |
| IRS990/TotalReportableCompFromOrgAmt | 0 | 89098 |
| IRS990/TotalRevenueGrp/ExclusionAmt | 0 | 129751 |
| IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 1014894 |
| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 1144645 |
| IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/TotalVolunteersCnt | 0 | 13 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt | 0 | 42768094 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 41351441 |
| IRS990/TotReportableCompRltdOrgAmt | 0 | 0 |
| IRS990/TravelGrp/TotalAmt | 0 | 10274 |
| IRS990/TypeOfOrganizationOtherInd | 0 | X |
| IRS990/UnrelatedBusIncmOverLimitInd | 0 | 0 |
| IRS990/UponRequestInd | 0 | X |
| IRS990/USAddress/AddressLine1 | 0 | 1929 S CEDAR AVE |
| IRS990/USAddress/City | 0 | OWATONNA |
| IRS990/USAddress/State | 0 | MN |
| IRS990/USAddress/ZIPCode | 0 | 55060 |
| IRS990/VotingMembersGoverningBodyCnt | 0 | 7 |
| IRS990/VotingMembersIndependentCnt | 0 | 7 |
| IRS990/WebsiteAddressTxt | 0 | WWW.FEDECU.COM |
| IRS990/WhistleblowerPolicyInd | 0 | 0 |
| ReturnHeader/BuildTS | 0 | 2015-11-30 17:44:51Z |
| ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd | 0 | 1 |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | JERAH FLYNN |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | TREASURER |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 5074555430 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2014-05-06 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1 | 0 | FEDERATED EMPLOYEES CREDIT UNION |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | FEDE |
| ReturnHeader/Filer/EIN | 0 | 410327335 |
| ReturnHeader/Filer/PhoneNum | 0 | 5074555430 |
| ReturnHeader/Filer/USAddress/AddressLine1 | 0 | 1929 S CEDAR AVE |
| ReturnHeader/Filer/USAddress/City | 0 | OWATONNA |
| ReturnHeader/Filer/USAddress/State | 0 | MN |
| ReturnHeader/Filer/USAddress/ZIPCode | 0 | 55060 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmEIN | 0 | 410746749 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1 | 0 | CLIFTONLARSONALLEN LLP |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1 | 0 | PO BOX 217 |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City | 0 | AUSTIN |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State | 0 | MN |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode | 0 | 55912 |
| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 5074347000 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | TANYA MEDGAARDEN |
| ReturnHeader/ReturnTs | 0 | 2014-05-09T11:39:09-05:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990 |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2013-01-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2013-12-31 |
| ReturnHeader/TaxYr | 0 | 2013 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2013 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $41,351,441
- Liabilities
- $35,635,231
- Net assets
- $5,716,210
- Revenue
- $1,144,645
- Expenses
- $1,011,091
- Net income
- $133,554