2024-05-02T11:05:43-07:00 2023-12-31 990 2023-01-01 410226825 HARBOR POINTE CREDIT UNION HARB 2187229242 11 W 2nd Street Duluth MN 55802 Lisa Herstad Vice President 2187229242 2024-05-02 Lisa Herstad 999009999 1 1 11 0 AAL2 X 2023 2023-04-26 12:10:37Z Lisa Herstad 11 W 2nd Street Duluth MN 55802 6856987 0 X www.hpcu.us X 1933 MN To meet the borrowing, saving, and investment needs of its members by providing the financial services desired. Members save and borrow from each other. 7 7 36 10 16461 0 0 0 5168470 5938909 565873 886068 0 0 5734343 6824977 0 0 183391 577322 2064319 2327989 0 0 0 2337688 2447778 4585398 5353089 1148945 1471888 152867431 146163101 138905495 130292859 13961936 15870242 To meet the borrowing, saving, and investment needs of its members by providing the financial services desired. Members save and borrow from each other.Credit Union Members save and borrow from each other. 0 0 Loan Servicing and Visa Program Expenses Debit ATM card program expenses Draft Account program expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2371 0 1 36 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 0 1 1 1 0 MN X Lisa Herstad 2187229242 11 W 2nd Street Duluth MN 55802 Rick Lappi CEO for part of 2023 40 0 X 217393 0 29899 Lisa Herstad Former EVP/Current CEO 40 X 167369 0 10670 James Lundberg VP Lending 40 0 X 123551 0 9512 Beth Waksdahl VP of Operations 40 X 123858 0 8350 Polly John Board Chair 2.00 0 X 0 0 0 Lisa Mitchell Krocak Board Vice Chair 2.00 0 X 0 0 0 Mike Fisher Board Member 2.00 0 X 0 0 0 Merry Wallin Board Member 2.0 0 X 0 0 0 Eddie Crawford Board Member 2.00 0 X 0 0 0 J Earl Grano Board Member 2.00 0 X 0 0 0 Christian Koelling Board Member 2.00 0 X 0 0 0 632171 0 58431 4 0 1 0 0 0 Interest Income 522130 5005868 5005868 0 0 Other Income 522130 579628 579628 0 0 Fee Income 522130 336952 336952 0 0 16461 0 16461 0 5938909 896992 896992 0 0 0 0 0 0 0 0 0 0 0 0 0 21086 0 32010 0 -10924 -10924 -10924 0 0 0 6824977 6808516 16461 0 0 0 0 577322 632171 0 1317302 93869 133302 151345 10500 21125 23410 0 0 1808 4719 149098 152943 463546 0 292675 14757 0 9256 181 0 146520 77767 Loan Servicing 715417 Share Draft Expenses 33716 Debit ATM Program Expenses 319185 11155 5353089 0 0 0 732693 916626 26850107 13213936 0 0 0 0 0 0 0 0 107005085 116042276 0 76555 37733 3613649 1931411 1797934 1682238 11668085 12086638 2893000 480000 0 0 0 0 1843972 1703654 152867431 146163101 304423 714115 0 0 0 0 0 0 0 0 0 0 0 0 0 0 138601072 129578744 138905495 130292859 X 0 0 1631055 1631055 12330881 14239187 13961936 15870242 152867431 146163101 X 1471888 0 0 0 0 436418 X 0 0 0 638458 0 638458 1125839 0 539726 586113 746084 0 528350 217734 1103268 0 863335 239933 0 0 0 0 1682238 Member Share Deposits 129578744 129578744 X X X 0 0 0 Rick Lappi CEO for part of 2023 201809 0 15583 0 0 0 13955 0 15944 0 247291 0 0 0 Lisa Herstad Current CEO 158758 0 8611 0 0 0 10070 0 600 0 178039 0 0 0 Schedule J, Part I, Line 3 The Personnel Committee refers to a Compensation Survey/comparables software and performance review, then proposes the annual salary for the CEO. the Proposal is brought to the Board of Directors for approval. Form 990, Part VI, Section A, Line 6 Members of the credit union Form 990, Part VI, Section A, Line 7a Credit Union members elect directors at the annual business meeting of the Credit Union Form 990, Part VI, Section A, Line 7b Membership approved changes in by-laws Form 990, Part VI, Section B, Line 11b Review by CEO and governing body Form 990, Part VI, Section B, Line 12c Supervisory Committee and Independent staff periodically conduct audits for compliance Form 990, Part VI, Section B, Line 15 The Personnel Committee and Human Resource Manager propose the annual salary for the CEO based on compensation resources/comparables and performance. The proposal then goes to the Board of Directors for approval. The Board of Directors approve an overall salary increase for the staff. The CEO, Human Resource Manager, and EVP work together to determine amount of individual employee salary increases based on compensation resources/comparables and performance input from Managers. Form 990, Part VI, Section C, Line 19 Governing documents available upon request. Monthly financial statements are posted in each office Form 990, Part XI, Line 9 Change in investment market value