Smw Financial Credit Union

Organization Overview

Smw Financial Credit Union is located in Lino Lakes, 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 12/2021, Smw Financial Credit Union employed 25 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Smw Financial 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 12/2021, Smw Financial Credit Union generated $4.0m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $3.6m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.7%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

BUILD TRUSTED RELATIONSHIPS AND STRONG FINANCIAL FUTURES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDED LOW COST FINANCIAL SERVICES TO 6,819 MEMBERS.


SERVED MEMBERS INTERESTS BY ACCEPTING DEPOSITS, GRANTING LOANS, AND INVESTING EXCESS FUNDS IN A PRUDENT MANNER.


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Board, Officers & Key Employees

Name (title)Compensation
Lindsey Palin
Mortgage Originator
$177,078
Steven Hauser
President/ceo
$134,075
Jeff Ellingson
CFO
$105,049
Victoria Zahler-Hanson
VP Marketing
$99,512
Dan Piilola
VP It
$95,176
Erin Mcnamara
VP Lending
$93,029

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$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$3,814,864
Investment income $178,375
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $3,993,239

Peer Organizations

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