Lamoure Credit Union

Organization Overview

Lamoure Credit Union is located in Lamoure, ND. The organization was established in 1945. 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, Lamoure Credit Union employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lamoure 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, Lamoure Credit Union generated $962.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $664.9k during the year ending 12/2022. While expenses have increased by 0.9% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE ORG IS A STATE CHARTERED CREDIT UNION WHICH IS ORGANIZED AND OPERATED FOR MUTUAL PURPOSES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDE FINANCIAL SERVICES FOR CREDIT UNION MEMBERS, INCLUDING DEPOSIT ACCOUNTS AND LOANS TO MEMBERS. APPROXIMATELY 1140 CREDIT UNION MEMBERS WERE SERVED DURING 2022.


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Board, Officers & Key Employees

Name (title)Compensation
Eric Musland
Managertreasurer
$137,917
Kathy Exner
Director
$120
James Rufsvold
Director
$120
Dale Siedschlag
President
$120
Gloria Lauf
Secretary
$120
Barry Townsend
Vice President
$110

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$806,381
Investment income $143,094
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $13,300
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 $962,775

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