Civic Intelligence

Leading Edge Credit Union

EIN 41-1563619 • 501(c)14 • Worthington, MN

Profile

We are the trusted financial cooperative focused on providing exceptional products and services to benefit the financial growth and future success of our communities and members.

1127 Ryans RoadWorthington, MN 56187

leadingedgecu.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

84th percentile

0.92x

Higher debt load relative to assets than 84% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

33rd percentile

14.06x

Higher debt load relative to revenue than 33% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2024

Net Margin

13th percentile

1.4%

Higher net margin than 13% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

23rd percentile

-1.5%

Faster asset growth than 23% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

32nd percentile

11%

Faster revenue growth than 32% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets84th percentile

Assets

Down

$142,881,801

Down $2,198,004 (-1.5%) from 2023

Liabilities

Down

$131,254,338

Down $2,711,191 (-2.0%) from 2023

Net Assets

Up

$11,627,463

Up $513,187 (+4.6%) from 2023

Operations
Liabilities / Revenue33rd percentileNet Margin13th percentile

Revenue

Up

$9,335,392

Up $912,868 (+11%) from 2023

Expenses

Up

$9,207,876

Up $646,467 (+7.6%) from 2023

Net Income

Up

$127,516

Up $266,401 (+192%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth23rd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$150M$100M$50M$0Assets 2010: $60,837,776Liabilities 2010: $54,374,539Net Assets 2010: $6,463,2372010Assets 2011: $65,420,167Liabilities 2011: $58,690,763Net Assets 2011: $6,729,4042011Assets 2012: $71,439,737Liabilities 2012: $64,212,520Net Assets 2012: $7,227,2172012Assets 2013: $73,273,584Liabilities 2013: $65,234,976Net Assets 2013: $8,038,6082013Assets 2015: $88,902,320Liabilities 2015: $78,962,549Net Assets 2015: $9,939,7712015Assets 2016: $100,084,947Liabilities 2016: $89,450,978Net Assets 2016: $10,633,9692016Assets 2017: $114,802,502Liabilities 2017: $103,498,929Net Assets 2017: $11,303,5732017Assets 2018: $118,927,618Liabilities 2018: $106,922,251Net Assets 2018: $12,005,3672018Assets 2019: $121,644,692Liabilities 2019: $109,502,085Net Assets 2019: $12,142,6072019Assets 2020: $135,956,726Liabilities 2020: $123,830,223Net Assets 2020: $12,126,5032020Assets 2021: $143,432,418Liabilities 2021: $131,556,206Net Assets 2021: $11,876,2122021Assets 2022: $149,217,727Liabilities 2022: $138,253,879Net Assets 2022: $10,963,8482022Assets 2023: $145,079,805Liabilities 2023: $133,965,529Net Assets 2023: $11,114,2762023Assets 2024: $142,881,801Liabilities 2024: $131,254,338Net Assets 2024: $11,627,4632024

Highlighted filing

2024

Assets$142,881,801
Liabilities$131,254,338
Net Assets$11,627,463
Open 2024 Filing

Operations Trend

Revenue Growth32nd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0MExpenses 2010: $3,172,7912010Expenses 2011: $3,111,8672011Expenses 2012: $3,145,0152012Revenue 2013: $4,064,502Expenses 2013: $3,251,314Net Income 2013: $813,1882013Revenue 2015: $5,099,810Expenses 2015: $4,164,254Net Income 2015: $935,5562015Revenue 2016: $5,539,832Expenses 2016: $4,845,634Net Income 2016: $694,1982016Revenue 2017: $6,221,941Expenses 2017: $5,552,337Net Income 2017: $669,6042017Revenue 2018: $6,789,570Expenses 2018: $6,087,776Net Income 2018: $701,7942018Revenue 2019: $7,038,377Expenses 2019: $6,923,233Net Income 2019: $115,1442019Revenue 2020: $6,671,151Expenses 2020: $6,780,328Net Income 2020: -$109,1772020Revenue 2021: $7,366,161Expenses 2021: $7,278,149Net Income 2021: $88,0122021Revenue 2022: $7,569,554Expenses 2022: $7,236,877Net Income 2022: $332,6772022Revenue 2023: $8,422,524Expenses 2023: $8,561,409Net Income 2023: -$138,8852023Revenue 2024: $9,335,392Expenses 2024: $9,207,876Net Income 2024: $127,5162024

Highlighted filing

2024

Revenue$9,335,392
Expenses$9,207,876
Net Income$127,516
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$142,881,801
Liabilities
$131,254,338
Net assets
$11,627,463
Revenue
$9,335,392
Expenses
$9,207,876
Net income
$127,516
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$143$131$11.6$9.34$9.21$0.13
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$145$134$11.1$8.42$8.56$0.14
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$149$138$11.0$7.57$7.24$0.33
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$143$132$11.9$7.37$7.28$0.09
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$136$124$12.1$6.67$6.78$0.11
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$122$110$12.1$7.04$6.92$0.12
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$119$107$12.0$6.79$6.09$0.70
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$115$103$11.3$6.22$5.55$0.67
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$100$89.5$10.6$5.54$4.85$0.69
2015Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$88.9$79.0$9.94$5.10$4.16$0.94
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$73.3$65.2$8.04$4.06$3.25$0.81
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$71.4$64.2$7.23$3.15
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$65.4$58.7$6.73$3.11
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$60.8$54.4$6.46$3.17
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 6, 2025
Return Version
2024v5.2
Gross Receipts
$9,335,392
Mission and Program Overview

Mission

Member owned financial services

Member owned financial services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$108,823,365$104,220,735▼ $4,602,630
Savings and Temporary Cash Investments$5,748,356$12,874,212▲ $7,125,856
Rtn Earn Endowment Incm Other Fnds$11,114,276$11,627,463▲ $513,187
Investments in Publicly Traded Securities$12,904,089$9,588,301▼ $3,315,788
Land, Buildings, and Equipment, Net$5,025,181$5,079,988▲ $54,807
Receivables From Officers Etc-$2,507,186-
Investments Other Securities$2,985,000$2,239,000▼ $746,000
Cash and Non-Interest-Bearing Accounts$3,968,605$1,923,445▼ $2,045,160
Prepaid Expenses and Deferred Charges$194,914$289,139▲ $94,225
Accounts Receivable-$150-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$145,079,805$142,881,801▼ $2,198,004
Other Assets Total$5,430,295$4,159,645▼ $1,270,650
Liabilities
Other Liabilities$125,835,018$121,800,485▼ $4,034,533
Mortgage Notes Payable Secured by Investment Property$6,000,000$7,500,000▲ $1,500,000
Accounts Payable and Accrued Expenses$2,130,511$1,953,853▼ $176,658
Total Liabilities$133,965,529$131,254,338▼ $2,711,191
Net Assets / Fund Balance
Total Net Assets Fund Balance$11,114,276$11,627,463▲ $513,187
Total Liabilities and Net Assets / Fund Balance$145,079,805$142,881,801▼ $2,198,004

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,501,697$1,658,684$5,160,381
Equipment$384,402$1,892,667$2,277,069
Land$560,594-$560,594
Leasehold Improvements$357,855$53,087$410,942
Other Land Buildings$275,440-$275,440
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
Chad MerrihewCEO & PresidentFT$223,500$29,530$253,030
Donna TimsCFOFT$131,188$16,828$148,016
Laura HonkenCIOFT$110,449$8,625$119,074
Angela HennenCIOFT$50,613$10,774$61,387

Board Members and Trustees

NameTitle
Randy DonahueChairman
Mike LoosebrockVice Chairman
Cheryl JanssenBoard Member
Nelson BonillaBoard Member
Phyllis BrunkSecretary & Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Jack Henry & AssociatesCore, Data Processing, ItalkPO BOX 609, Monett, MO 65708$459,119
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$8,602,749
Investment Income
$732,643
Other Revenue
$0
Change in Net Assets
$127,516
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,686,410
Salaries, Compensation, and Employee Benefits$2,821,073
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$2,700,393
Office Expenses---$2,039,933
Other Salaries and Wages---$1,792,161
Current Officers, Directors, Trustees, and Key Employees---$581,507
Interest---$388,756
Depreciation Depletion---$338,888
Occupancy---$304,557
Other Employee Benefits---$219,097
Payroll Taxes---$168,745
Advertising---$131,669
Pension Plan Contributions---$59,563
Travel---$59,147
Fees for Services Accounting---$51,995
Fees for Services Legal---$12,949
Other Expenses---$4,415
Total Functional Expenses$0$0$0$9,207,876
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees-$2,507,186-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Shares of All Types$118,318,485
Nonmember Deposits$3,482,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
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 has 11,153 members as of 12/31/24”

Form 990, Part VI, Section A, Line 7A

“Our members elect our board of directors.”

Form 990, Part VI, Section A, Line 7B

“Some bylaw changes require approval by our membership.”

Form 990, Part VI, Section B, Line 11B

“The ceo and cfo review and the ceo signs”

Form 990, Part VI, Section B, Line 12C

“Each employee is to fill out the form annually; restrictions are placed so employee is blocked from making transactions on those accounts”

Form 990, Part VI, Section B, Line 15

“Hr uses software called compease that gives ranges based on our asset size. The process described here was last completed in 2024.”

Form 990, Part VI, Section C, Line 19

“POSTED IN OUR LOBBIES.”

Filing and Contact Details

Filer

Filer Name
Leading Edge Credit Union
EIN
41-1563619
Phone
5077752802
Address
1127 RYANS ROAD, WORTHINGTON, MN 56187

Signing Officer

Name
Chad Merrihew
Title
CEO
Phone
5077752802
Signed
2025-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chad Merrihew
Formed
1986
Legal Domicile
Mn
Voting Board Members
6
Independent Board Members
6
Employees
60
Volunteers
8

Preparer

Firm
Cliftonlarsonallen Llp
Address
109 N MAIN STREET SUITE 200, AUSTIN, MN 55912
Preparer
Tanya Medgaarden
Phone
5074347000
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The credit union is exempt by statute from federal and state income taxes. However, the credit union is subject to unrelated business income tax. In accordance with the income taxes topic of the fasb asc, the credit union evaluates uncertain tax benefits arising from tax positions taken or expected to be taken based upon the likelihood of being sustained upon examination by applicable tax authorities. If the credit union determines that a tax position is more likely than not of being sustained, it recognizes the largest amount of the arising benefit that is greater than 50% likely of being realized upon settlement in the financial statements. Any tax positions taken or expected to be taken that do not pass the more likely than not test, the credit union establishes reserves offsetting the benefits related to such positions. Interest and penalties, if any, are included in the current period provision for income taxes in the credit union's statements of income (loss) and are included as a current liability in the statements of financial condition.”

Raw XML AppendixShowing 400 of 422 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
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt02130511
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt01953853
IRS990/AccountsReceivableGrp/EOYAmt0150
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0MEMBER OWNED FINANCIAL SERVICES.
IRS990/AdvertisingGrp/TotalAmt0131669
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/BenefitsToMembersGrp/TotalAmt02700393
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0CHAD MERRIHEW
IRS990/BooksInCareOfDetail/PhoneNum05077752802
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt01127 RYANS ROAD
IRS990/BooksInCareOfDetail/USAddress/CityNm0WORTHINGTON
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MN
IRS990/BooksInCareOfDetail/USAddress/ZIPCd056187
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CapStkTrPrinCurrentFundsGrp/BOYAmt00
IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt00
IRS990/CashNonInterestBearingGrp/BOYAmt03968605
IRS990/CashNonInterestBearingGrp/EOYAmt01923445
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt01
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0581507
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd01
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/ContractorCompensationGrp/CompensationAmt0459119
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt0PO BOX 609
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm0MONETT
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd0MO
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd065708
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt0JACK HENRY & ASSOCIATES
IRS990/ContractorCompensationGrp/ServicesDesc0CORE, DATA PROCESSING, ITALK
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt02700393
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt0732643
IRS990/CYOtherExpensesAmt03686410
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt08602749
IRS990/CYRevenuesLessExpensesAmt0127516
IRS990/CYSalariesCompEmpBnftPaidAmt02821073
IRS990/CYTotalExpensesAmt09207876
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt09335392
IRS990/DecisionsSubjectToApprovaInd01
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/TotalAmt0338888
IRS990/Desc0LOANS - CURRENTLY HAVE 6,036 LOANS OF $104,751,852 TO OUR 11,153 MEMBERS
IRS990/DescribedInSection501c3Ind00
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DonorAdvisedFundInd00
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd01
IRS990/EmployeeCnt060
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/TotalAmt051995
IRS990/FeesForServicesLegalGrp/TotalAmt012949
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt03.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt13.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt23.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt34.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt42.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt545.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt645.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt745.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt845.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OfficerInd4X
IRS990/Form990PartVIISectionAGrp/OfficerInd5X
IRS990/Form990PartVIISectionAGrp/OfficerInd6X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt529116
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt616828
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt78625
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt810774
IRS990/Form990PartVIISectionAGrp/PersonNm0PHYLLIS BRUNK
IRS990/Form990PartVIISectionAGrp/PersonNm1CHERYL JANSSEN
IRS990/Form990PartVIISectionAGrp/PersonNm2MIKE LOOSEBROCK
IRS990/Form990PartVIISectionAGrp/PersonNm3RANDY DONAHUE
IRS990/Form990PartVIISectionAGrp/PersonNm4NELSON BONILLA
IRS990/Form990PartVIISectionAGrp/PersonNm5CHAD MERRIHEW
IRS990/Form990PartVIISectionAGrp/PersonNm6DONNA TIMS
IRS990/Form990PartVIISectionAGrp/PersonNm7LAURA HONKEN
IRS990/Form990PartVIISectionAGrp/PersonNm8ANGELA HENNEN
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt5223914
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt6131188
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt7110449
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt850613
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/TitleTxt0SECRETARY & TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt3CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5CEO & PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt6CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt7CIO
IRS990/Form990PartVIISectionAGrp/TitleTxt8CIO
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/Form990TFiledInd01
IRS990/FormationYr01986
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt06
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt09335392
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt06
IRS990/IndivRcvdGreaterThan100KCnt03
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InterestGrp/TotalAmt0388756
IRS990/InvestmentIncomeGrp/ExclusionAmt0732643
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0732643
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt02985000
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt02239000
IRS990/InvestmentsPubTradedSecGrp/BOYAmt012904089
IRS990/InvestmentsPubTradedSecGrp/EOYAmt09588301
IRS990/IRPDocumentCnt03169
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt03604438
IRS990/LandBldgEquipBasisNetGrp/BOYAmt05025181
IRS990/LandBldgEquipBasisNetGrp/EOYAmt05079988
IRS990/LandBldgEquipCostOrOtherBssAmt08684426
IRS990/LegalDomicileStateCd0MN
IRS990/LoanOutstandingInd01
IRS990/LocalChaptersInd01
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0WE ARE THE TRUSTED FINANCIAL COOPERATIVE FOCUSED ON PROVIDING EXCEPTIONAL PRODUCTS AND SERVICES TO BENEFIT THE FINANCIAL GROWTH AND FUTURE SUCCESS OF OUR COMMUNITIES AND MEMBERS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt06000000
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt07500000
IRS990/NetAssetsOrFundBalancesBOYAmt011114276
IRS990/NetAssetsOrFundBalancesEOYAmt011627463
IRS990/NetUnrelatedBusTxblIncmAmt0992
IRS990/NetUnrlzdGainsLossesInvstAmt0385671
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt0304557
IRS990/OfficeExpensesGrp/TotalAmt02039933
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt05430295
IRS990/OtherAssetsTotalGrp/EOYAmt04159645
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0219097
IRS990/OtherExpensesGrp/Desc0LOAN SERVICING EXPENSE
IRS990/OtherExpensesGrp/Desc1PROVISION FOR CREDIT LO
IRS990/OtherExpensesGrp/Desc2OTHER OPERATING EXPENSE
IRS990/OtherExpensesGrp/Desc3OPERATING FEES
IRS990/OtherExpensesGrp/TotalAmt0126561
IRS990/OtherExpensesGrp/TotalAmt1126100
IRS990/OtherExpensesGrp/TotalAmt2101440
IRS990/OtherExpensesGrp/TotalAmt34415
IRS990/OtherLiabilitiesGrp/BOYAmt0125835018
IRS990/OtherLiabilitiesGrp/EOYAmt0121800485
IRS990/OtherOrganizationDsc0CU
IRS990/OtherSalariesAndWagesGrp/TotalAmt01792161
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0108823365
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0104220735
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/TotalAmt0168745
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt059563
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0194914
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0289139
IRS990/PrincipalOfficerNm0CHAD MERRIHEW
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1522100
IRS990/ProgramServiceRevenueGrp/BusinessCd2522100
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INTEREST
IRS990/ProgramServiceRevenueGrp/Desc1FEES & CHARGES
IRS990/ProgramServiceRevenueGrp/Desc2OTHER OPERATING INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt06464477
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11206814
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2915834
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt06464477
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11222438
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2915834
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt015624
IRS990/ProgSrvcAccomActy2Grp/Desc0DEPOSITS - CURRENTLY HAVE $121,800,485 IN DEPOSITS HELD BY OUR 11,153 MEMBERS
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt02079566
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0390020
IRS990/PYOtherExpensesAmt03516827
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt08032504
IRS990/PYRevenuesLessExpensesAmt0-138885
IRS990/PYSalariesCompEmpBnftPaidAmt02965016
IRS990/PYTotalExpensesAmt08561409
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt08422524
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt02507186
IRS990/ReconcilationRevenueExpnssAmt0127516
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt011114276
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt011627463
IRS990/SavingsAndTempCashInvstGrp/BOYAmt05748356
IRS990/SavingsAndTempCashInvstGrp/EOYAmt012874212
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt03501697
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01658684
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05160381
IRS990ScheduleD/EquipmentGrp/BookValueAmt0384402
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01892667
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02277069
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0560594
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0560594
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0357855
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt053087
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0410942
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0275440
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0275440
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03482000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1118318485
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NONMEMBER DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1MEMBER SHARES OF ALL TYPES
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION IS EXEMPT BY STATUTE FROM FEDERAL AND STATE INCOME TAXES. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. IN ACCORDANCE WITH THE INCOME TAXES TOPIC OF THE FASB ASC, THE CREDIT UNION EVALUATES UNCERTAIN TAX BENEFITS ARISING FROM TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN BASED UPON THE LIKELIHOOD OF BEING SUSTAINED UPON EXAMINATION BY APPLICABLE TAX AUTHORITIES. IF THE CREDIT UNION DETERMINES THAT A TAX POSITION IS MORE LIKELY THAN NOT OF BEING SUSTAINED, IT RECOGNIZES THE LARGEST AMOUNT OF THE ARISING BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED UPON SETTLEMENT IN THE FINANCIAL STATEMENTS. ANY TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT DO NOT PASS THE MORE LIKELY THAN NOT TEST, THE CREDIT UNION ESTABLISHES RESERVES OFFSETTING THE BENEFITS RELATED TO SUCH POSITIONS. INTEREST AND PENALTIES, IF ANY, ARE INCLUDED IN THE CURRENT PERIOD PROVISION FOR INCOME TAXES IN THE CREDIT UNION'S STATEMENTS OF INCOME (LOSS) AND ARE INCLUDED AS A CURRENT LIABILITY IN THE STATEMENTS OF FINANCIAL CONDITION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05079988
IRS990ScheduleD/TotalLiabilityAmt0121800485
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/ClubDuesOrFeesInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0223500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt029116
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt0414
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0CHAD MERRIHEW
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO & PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0253030
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SubstantiationRequiredInd01
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0BOARD AND EXECUTIVE TEAM SPOUSES ARE COVERED FOR TRAVEL EXPENSES. CEO RECEIVES GOLF CLUB MEMBERSHIP.
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt1BOARD REVIEWS COMPENSATION SURVEY AND MAKES ANNUAL ADJUSTMENTS.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 1A
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc1PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/TravelForCompanionsInd0X
IRS990ScheduleJ/WrittenPolicyRefTAndEExpnssInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt02507186
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0SPLIT DOLLAR LOAN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt02378000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0CHAD MERRIHEW
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0CEO
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd01
IRS990ScheduleL/TotalBalanceDueAmt02507186
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION HAS 11,153 MEMBERS AS OF 12/31/24
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OUR MEMBERS ELECT OUR BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SOME BYLAW CHANGES REQUIRE APPROVAL BY OUR MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CEO AND CFO REVIEW AND THE CEO SIGNS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4EACH EMPLOYEE IS TO FILL OUT THE FORM ANNUALLY; RESTRICTIONS ARE PLACED SO EMPLOYEE IS BLOCKED FROM MAKING TRANSACTIONS ON THOSE ACCOUNTS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5HR USES SOFTWARE CALLED COMPEASE THAT GIVES RANGES BASED ON OUR ASSET SIZE. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6POSTED IN OUR LOBBIES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0145079805
IRS990/TotalAssetsEOYAmt0142881801
IRS990/TotalAssetsGrp/BOYAmt0145079805
IRS990/TotalAssetsGrp/EOYAmt0142881801
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt060
IRS990/TotalFunctionalExpensesGrp/TotalAmt09207876
IRS990/TotalGrossUBIAmt015624
IRS990/TotalLiabilitiesBOYAmt0133965529
IRS990/TotalLiabilitiesEOYAmt0131254338
IRS990/TotalLiabilitiesGrp/BOYAmt0133965529
IRS990/TotalLiabilitiesGrp/EOYAmt0131254338
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt011114276
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt011627463
IRS990/TotalOtherCompensationAmt065343
IRS990/TotalProgramServiceRevenueAmt08602749
IRS990/TotalReportableCompFromOrgAmt0516164
IRS990/TotalRevenueGrp/ExclusionAmt0732643
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt08587125
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt09335392
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt015624
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0145079805
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0142881801
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt059147
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01127 RYANS ROAD
IRS990/USAddress/CityNm0WORTHINGTON
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd056187
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0LEADINGEDGECU.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CHAD MERRIHEW
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum05077752802
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LEADING EDGE CREDIT UNION

Document Assets

No mirrored PDF or thumbnail assets are attached yet.