Civic Intelligence

Hometown Credit Union

EIN 45-0278490 • 501(c)14 • Kulm, ND

View Organization Page

Profile

Hometown Credit Union is a financial cooperative which is owned and operated for its members. We seek to promote thrift and economic development of our trade area. We strive to provide the best possible financial services to meet members needs. Hometown Credit Union seeks to grow while maintaining its long term financial stability.

PO Box 310Kulm, ND 58456-0310

www.hcuonline.com

Siviq Scores

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

Liabilities / Assets

3rd percentile

0.03x

Higher debt load relative to assets than 3% of similar nonprofits.

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

Liabilities / Revenue

4th percentile

0.56x

Higher debt load relative to revenue than 4% of similar nonprofits.

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

Net Margin

58th percentile

14%

Higher net margin than 58% of similar nonprofits.

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

Top Officer Pay

17th percentile

$166,022

Higher top officer pay than 17% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

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

Asset Growth

87th percentile

8.5%

Faster asset growth than 87% of similar nonprofits.

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

Revenue Growth

76th percentile

19%

Faster revenue growth than 76% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets3rd percentile

Assets

Up

$208,369,066

Up $16,237,117 (+8.5%) from 2023

Liabilities

Up

$6,839,858

Up $54,432 (+0.8%) from 2023

Net Assets

Up

$201,529,208

Up $16,182,685 (+8.7%) from 2023

Operations
Liabilities / Revenue4th percentileNet Margin58th percentile

Revenue

Up

$12,281,717

Up $1,971,996 (+19%) from 2023

Expenses

Up

$10,564,097

Up $2,805,049 (+36%) from 2023

Net Income

Down

$1,717,620

Down $833,053 (-33%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth87th percentile

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

$300M$200M$100M$0Assets 2010: $57,314,919Liabilities 2010: $251,717Net Assets 2010: $57,063,2022010Assets 2011: $66,510,548Liabilities 2011: $247,975Net Assets 2011: $66,262,5732011Assets 2012: $77,177,638Liabilities 2012: $277,893Net Assets 2012: $76,899,7452012Assets 2013: $86,025,675Liabilities 2013: $216,777Net Assets 2013: $85,808,8982013Assets 2014: $90,155,539Liabilities 2014: $367,896Net Assets 2014: $89,787,6432014Assets 2015: $98,277,014Liabilities 2015: $433,463Net Assets 2015: $97,843,5512015Assets 2016: $108,705,373Liabilities 2016: $4,285,048Net Assets 2016: $104,420,3252016Assets 2017: $112,519,206Liabilities 2017: $888,333Net Assets 2017: $111,630,8732017Assets 2018: $128,792,379Liabilities 2018: $4,446,518Net Assets 2018: $124,345,8612018Assets 2019: $134,163,609Liabilities 2019: $1,151,756Net Assets 2019: $133,011,8532019Assets 2020: $154,098,495Liabilities 2020: $1,079,629Net Assets 2020: $153,018,8662020Assets 2021: $173,811,204Liabilities 2021: $968,595Net Assets 2021: $172,842,6092021Assets 2022: $178,035,582Liabilities 2022: $1,111,262Net Assets 2022: $176,924,3202022Assets 2023: $192,131,949Liabilities 2023: $6,785,426Net Assets 2023: $185,346,5232023Assets 2024: $208,369,066Liabilities 2024: $6,839,858Net Assets 2024: $201,529,2082024

Highlighted filing

2024

Assets$208,369,066
Liabilities$6,839,858
Net Assets$201,529,208
Open 2024 Filing

Operations Trend

Revenue Growth76th percentile

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

$15M$10M$5.0M$0Expenses 2010: $2,123,1372010Expenses 2011: $2,219,8172011Expenses 2012: $2,159,5962012Revenue 2013: $3,913,374Expenses 2013: $2,421,840Net Income 2013: $1,491,5342013Revenue 2014: $4,140,365Expenses 2014: $2,445,761Net Income 2014: $1,694,6042014Revenue 2015: $4,591,232Expenses 2015: $2,671,988Net Income 2015: $1,919,2442015Revenue 2016: $5,068,675Expenses 2016: $3,263,491Net Income 2016: $1,805,1842016Revenue 2017: $5,372,251Expenses 2017: $3,705,536Net Income 2017: $1,666,7152017Revenue 2018: $6,391,264Expenses 2018: $4,447,468Net Income 2018: $1,943,7962018Revenue 2019: $7,560,392Expenses 2019: $5,673,781Net Income 2019: $1,886,6112019Revenue 2020: $7,076,384Expenses 2020: $5,338,858Net Income 2020: $1,737,5262020Revenue 2021: $7,279,948Expenses 2021: $5,016,003Net Income 2021: $2,263,9452021Revenue 2022: $7,768,677Expenses 2022: $5,188,740Net Income 2022: $2,579,9372022Revenue 2023: $10,309,721Expenses 2023: $7,759,048Net Income 2023: $2,550,6732023Revenue 2024: $12,281,717Expenses 2024: $10,564,097Net Income 2024: $1,717,6202024

Highlighted filing

2024

Revenue$12,281,717
Expenses$10,564,097
Net Income$1,717,620
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$208,369,066
Liabilities
$6,839,858
Net assets
$201,529,208
Revenue
$12,281,717
Expenses
$10,564,097
Net income
$1,717,620
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$208$6.84$202$12.3$10.6$1.72
2023Detailed filing. Detailed filing data is available for this year.$192$6.79$185$10.3$7.76$2.55
2022Detailed filing. Detailed filing data is available for this year.$178$1.11$177$7.77$5.19$2.58
2021Detailed filing. Detailed filing data is available for this year.$174$0.97$173$7.28$5.02$2.26
2020Detailed filing. Detailed filing data is available for this year.$154$1.08$153$7.08$5.34$1.74
2019Detailed filing. Detailed filing data is available for this year.$134$1.15$133$7.56$5.67$1.89
2018Detailed filing. Detailed filing data is available for this year.$129$4.45$124$6.39$4.45$1.94
2017Detailed filing. Detailed filing data is available for this year.$113$0.89$112$5.37$3.71$1.67
2016Detailed filing. Detailed filing data is available for this year.$109$4.29$104$5.07$3.26$1.81
2015Detailed filing. Detailed filing data is available for this year.$98.3$0.43$97.8$4.59$2.67$1.92
2014Detailed filing. Detailed filing data is available for this year.$90.2$0.37$89.8$4.14$2.45$1.69
2013Detailed filing. Detailed filing data is available for this year.$86.0$0.22$85.8$3.91$2.42$1.49
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$77.2$0.28$76.9$2.16
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$66.5$0.25$66.3$2.22
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$57.3$0.25$57.1$2.12
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 29, 2025
Return Version
2024v5.0
Gross Receipts
$12,281,717
Mission and Program Overview

Mission

Hometown Credit Union is a financial cooperative which is owned and operated for its members. We seek to promote thrift and economic development of our trade area. We strive to provide the best possible financial services to meet members needs. Hometown Credit Union seeks to grow while maintaining its long term financial stability.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$156,055,715$170,520,780▲ $14,465,065
Accounts Receivable$157,164,199$169,298,876▲ $12,134,677
Rtn Earn Endowment Incm Other Fnds$29,290,808$31,008,428▲ $1,717,620
Savings and Temporary Cash Investments$26,545,082$30,512,580▲ $3,967,498
Prepaid Expenses and Deferred Charges$4,396,716$4,209,100▼ $187,616
Land, Buildings, and Equipment, Net$2,045,246$2,023,438▼ $21,808
Investments Other Securities$1,310,045$1,544,648▲ $234,603
Cash and Non-Interest-Bearing Accounts$482,982$629,665▲ $146,683
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$192,131,949$208,369,066▲ $16,237,117
Other Assets Total$187,679$150,759▼ $36,920
Liabilities
Accounts Payable and Accrued Expenses$6,785,426$6,839,858▲ $54,432
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0--
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$6,785,426$6,839,858▲ $54,432
Net Assets / Fund Balance
Total Net Assets Fund Balance$185,346,523$201,529,208▲ $16,182,685
Total Liabilities and Net Assets / Fund Balance$192,131,949$208,369,066▲ $16,237,117

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,255,518$707,605$0
Other Land Buildings$0$0$0
Land$299,220-$0
Equipment$468,700$1,176,608$0
Leasehold Improvements$0$0$0
Compensation and Service Providers
Top Officer Pay17th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Harold HagenCEOFT$155,000$11,022$166,022
Layton JohnsonChief Lending OfficerFT$105,528-$105,528
Darvin FischerBoard Secretary-$2,400-$2,400
Josh LandVice Chairman-$2,400-$2,400
Mike TaszarekDirector-$2,400-$2,400
Rodney KinzlerBoard Chairman-$2,400-$2,400
Sandra BaumgartnerDirector-$2,200-$2,200
James McLeishDirector-$400-$400
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$11,127,601
Investment Income
$1,154,116
Other Revenue
$0
Change in Net Assets
$1,717,620
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,376,406
Salaries, Compensation, and Employee Benefits$3,187,691
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest---$5,916,941
Other Salaries and Wages---$2,298,402
Fees for Services Other---$401,829
Other Employee Benefits---$350,865
Current Officers, Directors, Trustees, and Key Employees---$283,750
Advertising---$241,512
Payroll Taxes---$187,330
Occupancy---$171,710
Office Expenses---$162,299
Depreciation Depletion---$160,731
Insurance---$80,226
Fees for Services Accounting---$67,716
Pension Plan Contributions---$67,344
Conferences and Meetings---$51,922
All Other Expenses---$35,700
Payments to Affiliates---$32,314
Travel---$30,368
Information Technology---$18,382
Fees for Services Legal---$4,756
Total Functional Expenses$0$0$0$10,564,097
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“Hometown Credit Union is a financial cooperative, owned by its members. At the end of 2024, there were 3,337 members.”

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

“The Board of Directors are members of Hometown Credit Union, who are nominated by and elected by the membership of the credit union.”

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

“The Board of Directors are notified at their monthly meeting that Form 990 is available for their review.”

Form 990, Part VI, Section C, Line 19

“At Hometown Credit Union's annual meeting, each member in attendance receives a written financial report that details the income and expenses, and the assets and liabilities of the credit union. The reports are available upon request by any member unable to attend the annual meeting.”

Filing and Contact Details

Filer

Filer Name
Hometown Credit Union
EIN
45-0278490
Phone
7016472448
Address
PO Box 310, Kulm, ND 58456-0310

Signing Officer

Name
Julia Mathern
Title
VP of Accounting
Phone
7016472448
Signed
2025-04-29

Organization Details

Principal Officer
Harold Hagen
Formed
1949
Legal Domicile
Nd
Voting Board Members
5
Independent Board Members
5
Employees
56
Volunteers
5
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“This amount represents the growth in member deposits compared to the prior year.”

Raw XML AppendixShowing 400 of 441 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/ActivitiesConductedPrtshpInd00
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IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Board Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt4Vice Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt5Board Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
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IRS990/InvestmentsPubTradedSecGrp/EOYAmt00
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IRS990/LandBldgEquipCostOrOtherBssAmt03907651
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IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0Hometown Credit Union is a financial cooperative which is owned and operated for its members. We seek to promote thrift and economic development of our trade area. We strive to provide the best possible financial services to meet members needs. Hometown Credit Union seeks to grow while maintaining its long term financial stability.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt00
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IRS990/NetAssetsOrFundBalancesEOYAmt0201529208
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt00
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0-140
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-140
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IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt00
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IRS990/OccupancyGrp/TotalAmt0171710
IRS990/OfficeExpensesGrp/TotalAmt0162299
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0187679
IRS990/OtherAssetsTotalGrp/EOYAmt0150759
IRS990/OtherChangesInNetAssetsAmt014465065
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0350865
IRS990/OtherExpensesGrp/Desc0PROVISION FOR LOAN LOSSES
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IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherOrganizationDsc0cooperative
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IRS990/OtherSalariesAndWagesGrp/TotalAmt02298402
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IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
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IRS990/PaymentsToAffiliatesGrp/TotalAmt032314
IRS990/PayrollTaxesGrp/TotalAmt0187330
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IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt067344
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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt04396716
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt04209100
IRS990/PrincipalOfficerNm0Harold Hagen
IRS990/PriorPeriodAdjustmentsAmt00
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522130
IRS990/ProgramServiceRevenueGrp/BusinessCd1522130
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST ON LOANS
IRS990/ProgramServiceRevenueGrp/Desc1OTHER INCOME
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IRS990/ProgramServiceRevenueGrp/ExclusionAmt10
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt010743312
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1384289
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt010743312
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1384289
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
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IRS990/PYBenefitsPaidToMembersAmt00
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IRS990/PYInvestmentIncomeAmt0672890
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IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt09636831
IRS990/PYRevenuesLessExpensesAmt02550673
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IRS990/PYTotalExpensesAmt07759048
IRS990/PYTotalProfFndrsngExpnsAmt00
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IRS990/ReconcilationRevenueExpnssAmt01717620
IRS990/RegularMonitoringEnfrcInd00
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IRS990/RelatedOrganizationCtrlEntInd00
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IRS990/RentalIncomeOrLossGrp/RealAmt00
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IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt031008428
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt030512580
IRS990/ScheduleBRequiredInd00
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0707605
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt01963123
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt0468700
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01176608
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt01645308
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/BookValueAmt0299220
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0299220
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
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IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0155000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount04600
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt06422
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Harold Hagen
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0166022
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Hometown Credit Union is a financial cooperative, owned by its members. At the end of 2024, there were 3,337 members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Board of Directors are members of Hometown Credit Union, who are nominated by and elected by the membership of the credit union.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Board of Directors are notified at their monthly meeting that Form 990 is available for their review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3At Hometown Credit Union's annual meeting, each member in attendance receives a written financial report that details the income and expenses, and the assets and liabilities of the credit union. The reports are available upon request by any member unable to attend the annual meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4This amount represents the growth in member deposits compared to the prior year.
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 B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XI, Line 9
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IRS990/TerminateOperationsInd00
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