2024-10-30T10:24:58-05:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2023-01-01 410802271 EXPEDITION CREDIT UNION EXPE 6512640669 1270 NORTHLAND DRIVE SUITE 350 MENDOTA HEIGHTS MN 55120 PAUL DAMMANN PRESIDENT/CEO 6512640669 2024-10-28 1 0 TANYA MEDGAARDEN P01717240 5074347000 2024-10-28 2023 2024-10-15 13:58:12Z PAUL DAMMANN 1270 NORTHLAND DRIVE SUITE 350 MENDOTA HEIGHTS MN 55120 13695055 0 1 X WWW.EXPEDITIONCU.COM X CU 1957 MN EXPEDITION CREDIT UNION IS A NOT FOR PROFIT FINANCIAL COOPERATIVE OPERATING TO IMPROVE THE FINANCIAL WELL-BEING OF OUR MEMBER OWNERS THROUGH REAL FINANCIAL SOLUTIONS. 5 5 44 8 0 0 0 0 7058801 8341291 925973 1361059 571845 256705 8556619 9959055 0 0 23816 1642043 2799999 2926506 0 0 0 4913424 4776411 7737239 9344960 819380 614095 230599841 226908188 214105152 208211874 16494689 18696314 EXPEDITION CREDIT UNION IS A NOT FOR PROFIT FINANCIAL COOPERATIVE OPERATING TO IMPROVE THE FINANCIAL WELL-BEING OF OUR MEMBER OWNERS THROUGH REAL FINANCIAL SOLUTIONS. 0 0 TO PROVIDE AFFORDABLE CONSUMER LENDING PRODUCTS TO OUR MEMBERS. IN 2023 WE ORIGINATED 1,246 LOANS FOR A TOTAL OF $40,914,800.40. TO PAY FAVORABLE DIVIDENDS ON SAVINGS AND INVESTMENT PRODUCTS TO OUR MEMBERS. IN 2023 WE INCREASED OUR MEMBER CERTIFICATES BY $12,807,856.80. TO OFFER AFFORDABLE AND CONVENIENT ELECTRONIC AND CHECKING PRODUCTS TO OUR MEMBERS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 3554 0 44 1 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 MN X PAUL DAMMANN 6512643607 1270 NORTHLAND DR STE 350 MENDOTA HEIGHTS MN 55120 RAMONA SPRINGIS-DOSS CHAIRMAN 1.00 X X 762 0 0 JAMES SMOLA BOARD MEMBER/VICE CHAIR 1.00 X X 746 0 0 KANY SECK BOARD MEMBER 1.00 X 629 0 0 JORDAN FORD BOARD MEMBER/SECRETARY 1.00 X X 0 0 0 DWAYNE JOHNSON BOARD MEMBER 1.00 X 0 0 0 PAUL R DAMMANN PRESIDENT/CEO 38.00 X 220658 0 0 SHAWN LANNIER COO 38.00 X 145847 0 0 ANDRE THIBAULT CMO 38.00 X 125512 0 5000 CALEB HENNEK VP FINANCE 38.00 X 111162 0 650 BRANT PUTTKAMMER VP INFORMATION TECHNOLOGY 38.00 X 103136 0 3875 708452 0 9525 5 0 1 0 MSP SLP APARTMENTS PO BOX 86 SDS 12-2659 MINNEAPOLIS MN 55486 HQ RENTAL BUILDING 345245 CO-OP SOLUTIONS 9692 HAVEN AVE STE 300 RANCHO CUCUMONGA CA 91730 DEBIT/CREDIT PROCESSOR 291422 HEALTHPARTNERS PO BOX 772648 DETROIT MI 48277 HEALTH INSURANCE 285982 PRESIDIO NETWORKED PO BOX 74390 DEPT 2058 CHICAGO IL 60690 MONITOR OPERATING SYSTEMS 229951 CUNA MUTUALTRUSTAGE PO BOX 4653 CAROL STREAM IL 60197 BOND INSURANCE 163005 7 LOAN INTEREST 522100 7179433 7179433 OTHER INCOME 522100 716235 716235 FEE INCOME 522100 445623 445623 8341291 1454565 1454565 3642494 3736000 -93506 -93506 -93506 OTHER NON-OPERATING INCOME 522100 256705 256705 256705 9959055 8597996 0 1361059 1642043 717977 1707091 83645 242446 175347 532 128582 520464 173277 1553791 530401 37934 825555 316871 8393 LOAN SERVICING EXPENSE 472120 PROVISION FOR CREDIT L 163700 MISCELLANEOUS OPERATING 36691 OPERATING FEES 8100 9344960 261605 173369 867596 499388 468349 429640 2021458 2278772 144175695 136408331 2956813 2874344 5970181 1967382 4306051 4002799 63404738 70717137 9080000 6800000 3057536 2724408 230599841 226908188 1257180 1465359 6300000 12525000 206547972 194221515 214105152 208211874 X 0 0 0 0 16494689 18696314 16494689 18696314 230599841 226908188 614095 1587530 0 X X 0 0 0 1465000 1465000 3384497 1259610 2124887 1120684 707772 412912 4002799 SECURITIES - HTM 5060000 C SECURITIES - AFS 65657137 F 70717137 MEMBER SAVINGS 194221515 194221515 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER INTERNAL REVENUE CODE (IRC) 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES, AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION HAS ADOPTED THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS; AS A RESULT, THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF SEPTEMBER 30, 2023 AND 2022. THE CREDIT UNION'S 2020 AND SUBSEQUENT TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. X 0 0 0 PAUL R DAMMANN PRESIDENT/CEO 211778 0 8880 0 0 0 0 0 0 0 220658 0 0 0 PAUL DAMMANN PRESIDENT/CEO SPLIT DOLLAR PLAN X 1935000 2278772 0 1 1 2278772 FORM 990, PART VI, SECTION A, LINE 6 EACH PERSON WITH AN ACCOUNT AT THE CREDIT UNION IS CONSIDERED A MEMBER. THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY AND ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER HAS ONE VOTING SHARE AT THE ANNUAL MEETING. ALL VOTING MEMBERS HAVE THE SAME VOTING RIGHTS. MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO PERIODICALLY ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. EACH MEMBER HAS ONE VOTING SHARE AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B WE REVIEW THE 990 IN A BOARD MEETING WITH OUR CPA. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY WITH THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE CEO IS APPROVED BY THE BOARD OF DIRECTORS AFTER REVIEW OF COMPARABLES. COMPENSATION FOR OTHER OFFICERS IS DETERMINED BY THE PRESIDENT AFTER REVIEW OF COMPARABLES. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 18 FINANCIAL STATEMENTS POSTED AT EACH BRANCH AND ARE REVIEWED AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE AVAILABLE AT THE ANNUAL MEETING. FORM 990, PART XII, LINE 2B: AS ALLOWED BY STATE REGULATORY AUTHORITIES, THE AUDIT IS DONE AS OF SEPTEMBER 30. THE REPORTING PERIOD FOR THE AUDIT, THEREFORE, DOES NOT MATCH THE REPORTING PERIOD FOR THE 990. FORM 990, PART XII, LINE 2C: THE SUPERVISORY COMMITTEE OVERSEES THE AUDIT AND THE SELECTION OF AN INDEPENDENT AUDITOR. EXPEDITION FOUNDATION 1270 NORTHLAND DR STE 350 MENDOTA HEIGHTS MN 55120 261915313 FOUNDATION TO AWARD SCHOLARSHIPS AND GRANTS. MN 501(C)(3) PF EXPEDITION CREDIT UNION 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 NO TRANSACTIONS OVER 50000