Northern States Power-St Paul Credit Union
- Assets
- $45.1m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 7
- Location
- Maplewood, MN
- Founding
- 09/1944
- Data as of
- 12/2022
- EIN
- 41-0448160
Organization Overview
Northern States Power-St Paul Credit Union is located in Maplewood, MN. The organization was established in 1944. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, Northern States Power-St Paul Credit Union employed 7 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Northern States Power-St Paul Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2022, Northern States Power-St Paul Credit Union generated $2.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $1.8m during the year ending 12/2022. While expenses have increased by 1.6% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO EARN OUR MEMBERS' TRUST WITH PERSONALIZED SERVICE AND INTEGRITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 82 NEW DEPOSIT ACCOUNTS IN 2022. AS OF 12/31/22 HAD 2,938 MEMBERS.
THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 55,733 NEW LOANS DURING 2022 AS OF 12/31/22 WE HAD 104,613 OUTSTANDING LOANS RECEIVABLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charlie Yenni President | Officer | 50 | $121,330 |
Todd Riebe Treasurer | OfficerTrustee | 1.5 | $1,339 |
Alex Autio Director | Trustee | 0.75 | $961 |
Brandon Cramer Chair | OfficerTrustee | 0.5 | $361 |
Jenny Borgerson Ries Secretary | OfficerTrustee | 0.25 | $301 |
Darren Karnes Director | Trustee | 0.25 | $272 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fis Card Processing | 12/30/22 | $139,675 |
Bradford Scott Data Corp Core Processor | 12/30/22 | $127,597 |
Greiner Construction Construction | 12/30/22 | $686,579 |
Fiserv Inc Card Processing | 12/30/22 | $116,765 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $479 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $479 |
| Total Program Service Revenue | $1,791,911 |
| Investment income | $224,966 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $5,334 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$16,106 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,006,584 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,215 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $125,150 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $331,324 |
| Pension plan accruals and contributions | $59,385 |
| Other employee benefits | $66,178 |
| Payroll taxes | $34,843 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,745 |
| Fees for services: Accounting | $6,109 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $90,040 |
| Advertising and promotion | $48,768 |
| Office expenses | $286,428 |
| Information technology | $129,000 |
| Royalties | $0 |
| Occupancy | $54,488 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,562 |
| Interest | $4,870 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,986 |
| Insurance | $13,892 |
| All other expenses | $0 |
| Total functional expenses | $1,770,336 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $149,263 |
| Savings and temporary cash investments | $3,286,834 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $337,133 |
| Loans from Officers, Directors, or Controlling Persons | $1,704,559 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $23,591,561 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $331,232 |
| Net Land, buildings, and equipment | $958,791 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $13,851,980 |
| Intangible assets | $446,181 |
| Other assets | $465,203 |
| Total assets | $45,122,737 |
| Accounts payable and accrued expenses | $828,988 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $406,270 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $36,632,809 |
| Total liabilities | $37,868,067 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $7,254,670 |
| Total liabilities and net assets/fund balances | $45,122,737 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southpoint Financial Credit Union Sleepy Eye, MN | $509,297,128 | $21,366,397 |
Heritage Credit Union Deforest, WI | $461,320,772 | $20,193,229 |
North Star Community Credit Union Maddock, ND | $392,799,949 | $17,250,607 |
First Alliance Credit Union Stewartville, MN | $266,858,268 | $15,921,045 |
My Credit Union Bloomington, MN | $393,544,128 | $17,620,611 |
Western Cooperative Credit Union Williston, ND | $421,229,193 | $14,078,425 |
Minnco Credit Union Cambridge, MN | $474,930,178 | $17,267,094 |
Co-Op Credit Union Of Montevideo Montevideo, MN | $328,823,847 | $13,808,277 |
Anoka Hennepin Credit Union Coon Rapids, MN | $278,464,977 | $10,634,973 |
Northwoods Credit Union Cloquet, MN | $158,800,321 | $10,013,963 |
Dakota West Credit Union Watford City, ND | $299,186,425 | $10,075,740 |
Financial One Credit Union Columbia Heights, MN | $196,661,798 | $11,270,296 |