Liabilities / Assets
2nd percentile
Higher debt load relative to assets than 2% of similar nonprofits.
EIN 41-0790551 • 501(c)14 • Fergus Falls, MN
Profile
The Otter Tail Credit Union is a not-for-profit, member owned, financial institution that offers financial products and services to its' members at competitive rates without sacrificing safety and soundness. These products and services will be administered in the most economical way feasible. The credit union will help its' members to make better financial decisions by educating them on issues affecting their financial well-being.
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
Liabilities / Assets
2nd percentile
Higher debt load relative to assets than 2% of similar nonprofits.
Liabilities / Revenue
8th percentile
Higher debt load relative to revenue than 8% of similar nonprofits.
Net Margin
62nd percentile
Higher net margin than 62% of similar nonprofits.
Top Officer Pay
18th percentile
Higher top officer pay than 18% of similar nonprofits.
Top officer pay equals 12.1% of source-year revenue.
Asset Growth
97th percentile
Faster asset growth than 97% of similar nonprofits.
Revenue Growth
9th percentile
Faster revenue growth than 9% of similar nonprofits.
Assets
Up$15,414,356
Up $1,787,974 (+13%) from 2019
Liabilities
Down$16,913
Down $2,937 (-15%) from 2019
Net Assets
Up$15,397,443
Up $1,790,911 (+13%) from 2019
Revenue
Down$368,027
Down $40,957 (-10%) from 2019
Expenses
Down$324,608
Down $14,878 (-4.4%) from 2019
Net Income
Down$43,419
Down $26,079 (-38%) from 2019
Most recent year
2020 • Form 990Detailed filing. Detailed filing data is available for this year.
The Otter Tail Credit Union is a not-for-profit, member owned, financial institution that offers financial products and services to its' members at competitive rates without sacrificing safety and soundness. These products and services will be administered in the most economical way feasible. The credit union will help its' members to make better financial decisions by educating them on issues affecting their financial well-being.
The Otter Tail Credit Union is a not-for-profit, member owned, financial institution that offers financial products and services to its' members at competitive rates and fees. These products and services will be administered in the most economical way feasible. The credit union will help its' members to make better financial choices by educating them.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Cap Stk Tr Prin Current Funds | $12,167,061 | $13,941,579 | ▲ $1,774,518 |
| Investments Other Securities | $6,451,857 | $6,442,857 | ▼ $9,000 |
| Other Notes and Loans Receivable, Net | $5,744,468 | $5,300,568 | ▼ $443,900 |
| Savings and Temporary Cash Investments | $829,040 | $3,061,756 | ▲ $2,232,716 |
| Rtn Earn Endowment Incm Other Fnds | $1,439,471 | $1,455,864 | ▲ $16,393 |
| Land, Buildings, and Equipment, Net | $242,271 | $264,286 | ▲ $22,015 |
| Cash and Non-Interest-Bearing Accounts | $176,557 | $192,948 | ▲ $16,391 |
| Prepaid Expenses and Deferred Charges | $11,288 | $7,046 | ▼ $4,242 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $0 | $0 | → $0 |
| Total Assets | $13,626,382 | $15,414,356 | ▲ $1,787,974 |
| Other Assets Total | $170,901 | $144,895 | ▼ $26,006 |
| Liabilities | |||
| Other Liabilities | $11,159 | $10,022 | ▼ $1,137 |
| Accounts Payable and Accrued Expenses | $8,691 | $6,891 | ▼ $1,800 |
| Total Liabilities | $19,850 | $16,913 | ▼ $2,937 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $13,606,532 | $15,397,443 | ▲ $1,790,911 |
| Total Liabilities and Net Assets / Fund Balance | $13,626,382 | $15,414,356 | ▲ $1,787,974 |
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $154,923 | $85,605 | $240,528 |
| Equipment | $37,678 | $124,091 | $161,769 |
| Land | $58,520 | - | $58,520 |
| Other Land Buildings | $13,165 | $15,214 | $28,379 |
| Leasehold Improvements | $0 | $0 | $0 |
| Other Securities | $1,857 | - | - |
| Closely Held Equity Interests | $0 | - | - |
| Financial Derivatives | $0 | - | - |
| Name | Title | Full / Part Time | Base | Total |
|---|---|---|---|---|
| David R West | President | FT | $44,392 | $44,392 |
| Name | Title |
|---|---|
| Jeffrey McKeever | Chairman of the Board |
| Paul Hennen | Vice-Chairman |
| Paul Schmidt | Director |
| Amy Westerberg | Assistant Secretary/Treasurer |
| Tammy J Bolstad | Membership Officer |
| Karen Mostue | Secretary |
| Russell J Larsen | Treasurer |
| Line Item | Amount |
|---|---|
| Other Expenses | $168,515 |
| Salaries, Compensation, and Employee Benefits | $156,093 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Fees for Services Accounting | - | - | - | $77,473 |
| Other Salaries and Wages | - | - | - | $70,537 |
| Current Officers, Directors, Trustees, and Key Employees | - | - | - | $44,392 |
| Office Expenses | - | - | - | $33,414 |
| Other Employee Benefits | - | - | - | $27,939 |
| Occupancy | - | - | - | $14,741 |
| Insurance | - | - | - | $11,475 |
| Depreciation Depletion | - | - | - | $10,685 |
| Payroll Taxes | - | - | - | $8,849 |
| Pension Plan Contributions | - | - | - | $4,376 |
| Other Expenses | - | - | - | $3,426 |
| All Other Expenses | - | - | - | $3,270 |
| Information Technology | - | - | - | $2,336 |
| Advertising | - | - | - | $1,627 |
| Payments to Affiliates | - | - | - | $390 |
| Conferences and Meetings | - | - | - | $225 |
| Total Functional Expenses | $0 | $0 | $0 | $324,608 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
| Liability | Amount |
|---|---|
| Dividends and interest payable | $5,202 |
| State and city taxes payable | $2,287 |
“The credit union has member/owners. The member/owners elect the Board of Directors from the membership population to represent them as the governing body of the credit union. The member/owners also have the final voice concerning changes to the credit union's Certificate of Organization and bylaws.”
“By establishing membership in the credit union an individual receives the right to be nominated for the Board of Directors and vote for those running for the Board of Directors. The Board of Directors may fill a vacancy in their number by appointment but only until the next annual meeting of the membership or until a special meeting of the membership is called.”
“Specific changes to the Certificate of Organization must be voted on by credit union's membership. Changes to the bylaws of the credit union may be made by the Board of Directors but are subject to review and revision at the next annual meeting of the membership. The membership may repeal changes made by the Board of Directors to the bylaws.”
“The credit union has a Supervisory Committee that is elected by the membership and is independent of the Board of Directors. The Supervisory Committee performs the audit function within the credit union. Part of their duties are the review af all IRS filings. If they find a problem with a filing they report their findings directly to the Board of Directors.”
“The written policy of the credit union requires and annual review of the Conflict of Interest Policy and a disclosure of any possible conflicts of interest by all directors and officers. The directors and officers are required to list any possible conflicts of interest and certify their review of the policy by signing a statement to that effect.”
“The Board of Directors uses a salary survey published by the Credit Union National Association to establish the President's salary. The President is the only officer or key employee with the credit union. The Presidents salary was last reviewed in 2017. There has not been an increase due to economic conditions.”
“The public may see the governing documents and the policies of the credit union upon request. The financial statements of the credit union are posted in the lobby each month for anyone to review.”
“An increase on member shares/savings of $1,774,517 minus dividend/interest expense of $25,474 and minus nonoperating expense of $1,552 equals the $1,747,491 increase in increase in net assets or fund balances as of December 31, 2020.”
“This item is the cost of paving the parking lot of the credit union building at the time of purchase.”
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
| Path | # | Value |
|---|---|---|
| IRS990/AccountantCompileOrReviewInd | 0 | 0 |
| IRS990/AccountsPayableAccrExpnssGrp/BOYAmt | 0 | 8691 |
| IRS990/AccountsPayableAccrExpnssGrp/EOYAmt | 0 | 6891 |
| IRS990/ActivitiesConductedPrtshpInd | 0 | 0 |
| IRS990/ActivityOrMissionDesc | 0 | The Otter Tail Credit Union is a not-for-profit, member owned, financial institution that offers financial products and services to its' members at competitive rates and fees. These products and services will be administered in the most economical way feasible. The credit union will help its' members to make better financial choices by educating them. |
| IRS990/AdvertisingGrp/TotalAmt | 0 | 1627 |
| IRS990/AllOtherExpensesGrp/TotalAmt | 0 | 3270 |
| IRS990/AnnualDisclosureCoveredPrsnInd | 0 | 1 |
| IRS990/BackupWthldComplianceInd | 0 | 1 |
| IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt | 0 | Otter Tail Credit Union |
| IRS990/BooksInCareOfDetail/PhoneNum | 0 | 2187365528 |
| IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt | 0 | 413 Stanton Avenue |
| IRS990/BooksInCareOfDetail/USAddress/CityNm | 0 | Fergus Falls |
| IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd | 0 | MN |
| IRS990/BooksInCareOfDetail/USAddress/ZIPCd | 0 | 565372505 |
| IRS990/BusinessRlnWith35CtrlEntInd | 0 | 0 |
| IRS990/BusinessRlnWithFamMemInd | 0 | 0 |
| IRS990/BusinessRlnWithOrgMemInd | 0 | 0 |
| IRS990/CapStkTrPrinCurrentFundsGrp/BOYAmt | 0 | 12167061 |
| IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt | 0 | 13941579 |
| IRS990/CashNonInterestBearingGrp/BOYAmt | 0 | 176557 |
| IRS990/CashNonInterestBearingGrp/EOYAmt | 0 | 192948 |
| IRS990/ChangeToOrgDocumentsInd | 0 | 0 |
| IRS990/CntrctRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/CollectionsOfArtInd | 0 | 0 |
| IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt | 0 | 44392 |
| IRS990/CompensationFromOtherSrcsInd | 0 | 0 |
| IRS990/CompensationProcessCEOInd | 0 | 1 |
| IRS990/CompensationProcessOtherInd | 0 | 1 |
| IRS990/ConferencesMeetingsGrp/TotalAmt | 0 | 225 |
| IRS990/ConflictOfInterestPolicyInd | 0 | 1 |
| IRS990/ConservationEasementsInd | 0 | 0 |
| IRS990/ConsolidatedAuditFinclStmtInd | 0 | 0 |
| IRS990/CreditCounselingInd | 0 | 0 |
| IRS990/CYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/CYContributionsGrantsAmt | 0 | 0 |
| IRS990/CYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/CYInvestmentIncomeAmt | 0 | 144209 |
| IRS990/CYOtherExpensesAmt | 0 | 168515 |
| IRS990/CYOtherRevenueAmt | 0 | 5587 |
| IRS990/CYProgramServiceRevenueAmt | 0 | 218231 |
| IRS990/CYRevenuesLessExpensesAmt | 0 | 43419 |
| IRS990/CYSalariesCompEmpBnftPaidAmt | 0 | 156093 |
| IRS990/CYTotalExpensesAmt | 0 | 324608 |
| IRS990/CYTotalFundraisingExpenseAmt | 0 | 0 |
| IRS990/CYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/CYTotalRevenueAmt | 0 | 368027 |
| IRS990/DecisionsSubjectToApprovaInd | 0 | 1 |
| IRS990/DeductibleArtContributionInd | 0 | 0 |
| IRS990/DeductibleNonCashContriInd | 0 | 0 |
| IRS990/DelegationOfMgmtDutiesInd | 0 | 0 |
| IRS990/DepreciationDepletionGrp/TotalAmt | 0 | 10685 |
| IRS990/Desc | 0 | Promoting thrift to the credit union's members is a primary service. Thrift is promoted by offering a variety of saving accounts. The credit union offers basic saving accounts, money market type accounts, IRA accounts, and certificates of deposit. All of these accounts have either no minimum balance requirements or very low minimum balance requirements. The credit union also offers its' members payroll deduction and direct deposit to facilitate savings. In 2020 the credit union paid out $17,944.96 in dividends and interest to its' members. |
| IRS990/DescribedInSection501c3Ind | 0 | 0 |
| IRS990/DisregardedEntityInd | 0 | 0 |
| IRS990/DocumentRetentionPolicyInd | 0 | 1 |
| IRS990/DonatedServicesAndUseFcltsAmt | 0 | 0 |
| IRS990/DonorAdvisedFundInd | 0 | 0 |
| IRS990/DonorRstrOrQuasiEndowmentsInd | 0 | 0 |
| IRS990/ElectionOfBoardMembersInd | 0 | 1 |
| IRS990/EmployeeCnt | 0 | 3 |
| IRS990/EmploymentTaxReturnsFiledInd | 0 | 1 |
| IRS990/FamilyOrBusinessRlnInd | 0 | 0 |
| IRS990/FederalGrantAuditRequiredInd | 0 | 0 |
| IRS990/FeesForServicesAccountingGrp/TotalAmt | 0 | 77473 |
| IRS990/ForeignActivitiesInd | 0 | 0 |
| IRS990/ForeignFinancialAccountInd | 0 | 0 |
| IRS990/ForeignOfficeInd | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 3 | 0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 5 | 0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 6 | 0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 7 | 0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 0 | 40 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 1 | 1.6 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 2 | 1.60 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 3 | 1.60 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 4 | 2.0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 5 | 1.20 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 6 | 1.20 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 7 | 1.20 |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 0 | X |
| 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 | 0 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 0 | David R West |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 1 | Jeffrey McKeever |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 2 | Paul Hennen |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 3 | Russell J Larsen |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 4 | Karen Mostue |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 5 | Tammy J Bolstad |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 6 | Paul Schmidt |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 7 | Amy Westerberg |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 0 | 44392 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 3 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 5 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 6 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 7 | 0 |
| 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 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 7 | 0 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 0 | President |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | Chairman of the Board |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | Vice-Chairman |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | Treasurer |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | Secretary |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | Membership Officer |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | Assistant Secretary/Treasurer |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | 1 |
| IRS990/FormationYr | 0 | 1954 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | 0 |
| IRS990/FSAuditedInd | 0 | 0 |
| IRS990/FundraisingActivitiesInd | 0 | 0 |
| IRS990/GainOrLossGrp/OtherAmt | 0 | 0 |
| IRS990/GainOrLossGrp/SecuritiesAmt | 0 | 0 |
| IRS990/GamingActivitiesInd | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 7 |
| IRS990/GrantsToIndividualsInd | 0 | 0 |
| IRS990/GrantsToOrganizationsInd | 0 | 0 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossReceiptsAmt | 0 | 368027 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 0 |
| IRS990/IncmFromInvestBondProceedsGrp/ExclusionAmt | 0 | 0 |
| IRS990/IncmFromInvestBondProceedsGrp/RelatedOrExemptFuncIncomeAmt | 0 | 0 |
| IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/IncmFromInvestBondProceedsGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 0 |
| IRS990/IndependentVotingMemberCnt | 0 | 7 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIInd | 0 | X |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 2336 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 11475 |
| IRS990/InvestmentExpenseAmt | 0 | 0 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 0 |
| IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt | 0 | 144209 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 144209 |
| IRS990/InvestmentIncomeGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt | 0 | 6451857 |
| IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt | 0 | 6442857 |
| IRS990/IRPDocumentCnt | 0 | 1397 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 224910 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 242271 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 264286 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 489196 |
| IRS990/LegalDomicileStateCd | 0 | MN |
| 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/MiscellaneousRevenueGrp/ExclusionAmt | 0 | 0 |
| IRS990/MiscellaneousRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 0 |
| IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/MiscellaneousRevenueGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/MissionDesc | 0 | The Otter Tail Credit Union is a not-for-profit, member owned, financial institution that offers financial products and services to its' members at competitive rates without sacrificing safety and soundness. These products and services will be administered in the most economical way feasible. The credit union will help its' members to make better financial decisions by educating them on issues affecting their financial well-being. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 13606532 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 15397443 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NetUnrlzdGainsLossesInvstAmt | 0 | 0 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 14741 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 33414 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501cInd | 0 | X |
| IRS990/OrgDoesNotFollowFASB117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 170901 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 144895 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 1747492 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 27939 |
| IRS990/OtherExpensesGrp/Desc | 0 | Loan Expense |
| IRS990/OtherExpensesGrp/Desc | 1 | Regulatory Fees and Charges |
| IRS990/OtherExpensesGrp/Desc | 2 | Share Draft Expenses |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 5557 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 3896 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 3426 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 11159 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 10022 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 0 | 522130 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 1 | 524298 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 2 | 522130 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | Fee Income |
| IRS990/OtherRevenueMiscGrp/Desc | 1 | Insurance Reimbursement |
| IRS990/OtherRevenueMiscGrp/Desc | 2 | Miscellaneous Operating Income |
| IRS990/OtherRevenueMiscGrp/ExclusionAmt | 0 | 0 |
| IRS990/OtherRevenueMiscGrp/ExclusionAmt | 1 | 0 |
| IRS990/OtherRevenueMiscGrp/ExclusionAmt | 2 | 0 |
| IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt | 0 | 3038 |
| IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt | 1 | 1464 |
| IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt | 2 | 354 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 3769 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 1 | 1464 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 2 | 354 |
| IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt | 0 | 731 |
| IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt | 1 | 0 |
| IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt | 2 | 0 |
| IRS990/OtherRevenueTotalAmt | 0 | 5587 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 70537 |
| IRS990/OthNotesLoansReceivableNetGrp/BOYAmt | 0 | 5744468 |
| IRS990/OthNotesLoansReceivableNetGrp/EOYAmt | 0 | 5300568 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PaymentsToAffiliatesGrp/TotalAmt | 0 | 390 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 8849 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt | 0 | 0 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt | 0 | 0 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 4376 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 11288 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 7046 |
| IRS990/PrincipalOfficerNm | 0 | David R West |
| IRS990/PriorPeriodAdjustmentsAmt | 0 | 0 |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 522130 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | Loan interest income from members |
| IRS990/ProgramServiceRevenueGrp/ExclusionAmt | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 218231 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 218231 |
| IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/ProgSrvcAccomActy2Grp/Desc | 0 | Lending is another primary service the credit union offers its' members. In 2020 the credit union granted 263 loans in the amount of $2,645,176.34 to its' members. The credit union does not charge the members an application fee for loans nor does it have a minimum loan amount. The credit union's loans do not have pre-payment penalties and all of the loan contracts are simple-interest contracts. The credit union offers its' members payroll deduction to make paying their loans more convenient. |
| IRS990/ProgSrvcAccomActy3Grp/Desc | 0 | The credit union provides its' members with low cost share draft accounts as another primary service. These share draft accounts do not have a minimum balance requirement nor do they have monthly service charges. There are some fees associated with this account but the credit union strives to keep those fees to a lower amount than other financial institutions. The credit union also follows policies designed to keep member costs to a minimum. At the end of 2020 the credit union 549 of these accounts open. |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 0 | The credit union offers its' members debit cards, a toll-free audio response line, internet banking, check cashing (no charge), ATM, NADA valuation guides, night deposit box, notary public service (no charge), quarterly newsletter, and member-pay credit insurance. |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | 183937 |
| IRS990/PYOtherExpensesAmt | 0 | 182963 |
| IRS990/PYOtherRevenueAmt | 0 | 10326 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 214721 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 69498 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 156523 |
| IRS990/PYTotalExpensesAmt | 0 | 339486 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 408984 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 43419 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 0 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990/RentalIncomeOrLossGrp/PersonalAmt | 0 | 0 |
| IRS990/RentalIncomeOrLossGrp/RealAmt | 0 | 0 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 1 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 0 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RoyaltiesRevenueGrp/ExclusionAmt | 0 | 0 |
| IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 0 |
| IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt | 0 | 0 |
| IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt | 0 | 1439471 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt | 0 | 1455864 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 829040 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 3061756 |
| IRS990/ScheduleBRequiredInd | 0 | 0 |
| IRS990ScheduleD/BuildingsGrp/BookValueAmt | 0 | 154923 |
| IRS990ScheduleD/BuildingsGrp/DepreciationAmt | 0 | 85605 |
| IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt | 0 | 0 |
| IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 240528 |
| IRS990ScheduleD/CloselyHeldEquityInterestsGrp/BookValueAmt | 0 | 0 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 37678 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 124091 |
| IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt | 0 | 0 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 161769 |
| IRS990ScheduleD/FederalIncomeTaxLiabilityAmt | 0 | 2533 |
| IRS990ScheduleD/FinancialDerivativesGrp/BookValueAmt | 0 | 0 |
| IRS990ScheduleD/LandGrp/BookValueAmt | 0 | 58520 |
| IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt | 0 | 0 |
| IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt | 0 | 58520 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt | 0 | 0 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt | 0 | 0 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt | 0 | 0 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt | 0 | 0 |
| IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt | 0 | 13165 |
| IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt | 0 | 15214 |
| IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt | 0 | 0 |
| IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 28379 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 5202 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 2287 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | Dividends and interest payable |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | State and city taxes payable |
| IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt | 0 | 1488000 |
| IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt | 1 | 4953000 |
| IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt | 2 | 1857 |
| IRS990ScheduleD/OtherSecuritiesGrp/Desc | 0 | Brokered Certificates of Deposit |
| IRS990ScheduleD/OtherSecuritiesGrp/Desc | 1 | Certificates of Deposit |
| IRS990ScheduleD/OtherSecuritiesGrp/Desc | 2 | Permanent Capital Base - Alloya Corporate FCU |
| IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd | 0 | C |
| IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd | 1 | C |
| IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd | 2 | C |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | This item is the cost of paving the parking lot of the credit union building at the time of purchase. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Schedule D, Part VI, Line 1e |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 264286 |
| IRS990ScheduleD/TotalBookValueSecuritiesAmt | 0 | 6442857 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 10022 |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | The credit union has member/owners. The member/owners elect the Board of Directors from the membership population to represent them as the governing body of the credit union. The member/owners also have the final voice concerning changes to the credit union's Certificate of Organization and bylaws. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | By establishing membership in the credit union an individual receives the right to be nominated for the Board of Directors and vote for those running for the Board of Directors. The Board of Directors may fill a vacancy in their number by appointment but only until the next annual meeting of the membership or until a special meeting of the membership is called. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | Specific changes to the Certificate of Organization must be voted on by credit union's membership. Changes to the bylaws of the credit union may be made by the Board of Directors but are subject to review and revision at the next annual meeting of the membership. The membership may repeal changes made by the Board of Directors to the bylaws. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | The credit union has a Supervisory Committee that is elected by the membership and is independent of the Board of Directors. The Supervisory Committee performs the audit function within the credit union. Part of their duties are the review af all IRS filings. If they find a problem with a filing they report their findings directly to the Board of Directors. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | The written policy of the credit union requires and annual review of the Conflict of Interest Policy and a disclosure of any possible conflicts of interest by all directors and officers. The directors and officers are required to list any possible conflicts of interest and certify their review of the policy by signing a statement to that effect. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | The Board of Directors uses a salary survey published by the Credit Union National Association to establish the President's salary. The President is the only officer or key employee with the credit union. The Presidents salary was last reviewed in 2017. There has not been an increase due to economic conditions. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | The public may see the governing documents and the policies of the credit union upon request. The financial statements of the credit union are posted in the lobby each month for anyone to review. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | An increase on member shares/savings of $1,774,517 minus dividend/interest expense of $25,474 and minus nonoperating expense of $1,552 equals the $1,747,491 increase in increase in net assets or fund balances as of December 31, 2020. |
| 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 11b |
| 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 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | Form 990, Part XI, Line 9 |
| IRS990/SchoolOperatingInd | 0 | 0 |
| IRS990/SignificantChangeInd | 0 | 0 |
| IRS990/SignificantNewProgramSrvcInd | 0 | 0 |
| IRS990/SubjectToExcsTaxNetInvstIncInd | 0 | 0 |
| IRS990/SubjectToProxyTaxInd | 0 | 0 |
| IRS990/SubjToTaxRmnrtnExPrchtPymtInd | 0 | 0 |
| IRS990/TaxablePartyNotificationInd | 0 | 0 |
| IRS990/TaxExemptBondsInd | 0 | 0 |
| IRS990/TerminateOperationsInd | 0 | 0 |
| IRS990/TotalAssetsBOYAmt | 0 | 13626382 |
| IRS990/TotalAssetsEOYAmt | 0 | 15414356 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 13626382 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 15414356 |
| IRS990/TotalCompGreaterThan150KInd | 0 | 0 |
| IRS990/TotalContributionsAmt | 0 | 0 |
| IRS990/TotalEmployeeCnt | 0 | 3 |
| IRS990/TotalFunctionalExpensesGrp/FundraisingAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 324608 |
| IRS990/TotalGrossUBIAmt | 0 | 731 |
| IRS990/TotalLiabilitiesBOYAmt | 0 | 19850 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 16913 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 19850 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 16913 |
| IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt | 0 | 13606532 |
| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 15397443 |
| IRS990/TotalOtherCompensationAmt | 0 | 0 |
| IRS990/TotalOtherProgSrvcExpenseAmt | 0 | 0 |
| IRS990/TotalOtherProgSrvcGrantAmt | 0 | 0 |
| IRS990/TotalOtherProgSrvcRevenueAmt | 0 | 0 |
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| IRS990/TotalProgramServiceExpensesAmt | 0 | 0 |
| IRS990/TotalProgramServiceRevenueAmt | 0 | 218231 |
| IRS990/TotalReportableCompFromOrgAmt | 0 | 44392 |
| IRS990/TotalRevenueGrp/ExclusionAmt | 0 | 0 |
| IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 367296 |
| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 368027 |
| IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt | 0 | 731 |
| IRS990/TotalVolunteersCnt | 0 | 12 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt | 0 | 13626382 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 15414356 |
| IRS990/TotReportableCompRltdOrgAmt | 0 | 0 |
| IRS990/TypeOfOrganizationCorpInd | 0 | X |
| IRS990/UnrelatedBusIncmOverLimitInd | 0 | 0 |
| IRS990/UponRequestInd | 0 | X |
| IRS990/USAddress/AddressLine1Txt | 0 | 413 Stanton Avenue |
| IRS990/USAddress/CityNm | 0 | Fergus Falls |
| IRS990/USAddress/StateAbbreviationCd | 0 | MN |
| IRS990/USAddress/ZIPCd | 0 | 565372505 |
| IRS990/VotingMembersGoverningBodyCnt | 0 | 7 |
| IRS990/VotingMembersIndependentCnt | 0 | 7 |
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