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Nonprofit · EIN 41-0793629

RED WING CREDIT UNION

Tax-exempt · RED WING, MN 55066

Financials

$7.7M$5.9M2023$9.5M$7.4M2024
Revenue Expenses · by fiscal year end
Financials of RED WING CREDIT UNION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$9,499,093$7,428,928$2,070,165$189,609,527$171,831,569$17,777,958
December 31, 2023990$7,704,785$5,888,288$1,816,497$171,110,209$155,371,877$15,738,332
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$7,010,664
Investment income
$2,488,429
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Benefits paid to members
$2,778,626
Compensation of officers, directors and key employees
$501,636
Other salaries and wages
$1,251,730
Salaries, compensation and benefits (total)
$2,286,444
Professional fundraising fees
$0
Accounting fees
$30,668
Occupancy
$125,973
Travel
$60,370
Depreciation
$158,945

Balance sheet and other

Total assets, start of year
$171,110,209
Total assets, end of year
$189,609,527
Total liabilities, end of year
$171,831,569
Net assets, end of year
$17,777,958
Land, buildings and equipment
$2,753,785
Publicly traded securities
$45,240,044
Gross unrelated business income
$3,192
Gross receipts
$9,499,093
Employees
39
Volunteers
0
Year formed
1954
State of legal domicile
MN

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
AARON DEJONGPRESIDENT
Officer
40$331,125$14,803
STACEY STEINCFO
Officer
40$108,391$40,417
TAMMY WADLEYDIRECTOR
Trustee or director
0.3$1,100$0
TONY SEYFFERVICE CHAIRMAN
Trustee or director, Officer
0.3$1,100$0
STACY BYSTROMDIRECTOR
Trustee or director
0.3$1,100$0
DARYL MARKCHAIR
Trustee or director, Officer
0.3$1,000$0
PAUL IRWINDIRECTOR
Trustee or director
0.3$1,000$0
DAVID HULLDIRECTOR
Trustee or director
0.3$900$0
SHIRLEY PERKINSSECRETARY
Trustee or director, Officer
0.3$700$0
990 for the year ended December 31, 2023: 9 people
NameTitleHours / weekCompensationOther / benefits
AARON DEJONGPRESIDENT
Officer
40$205,924$13,676
STACEY STEINCFO
Officer
40$119,283$18,211
TONY SEYFFERVICE CHAIRMAN
Trustee or director
0.3$1,400$0
PAUL IRWINDIRECTOR
Trustee or director
0.3$1,300$0
TAMMY WADLEYBOARD MEMBER
Trustee or director, Officer
0.3$1,300$0
DARYL MARKCHAIR
Trustee or director, Officer
0.3$1,200$0
DAVID HULLDIRECTOR
Trustee or director
0.3$1,200$0
STACY BYSTROMDIRECTOR
Trustee or director
0.3$1,100$0
SHIRLEY PERKINSSECRETARY
Trustee or director, Officer
0.3$650$0

Address and contacts

Address (IRS master file)
3303 N SERVICE DR, RED WING, MN 55066-1875
Principal officer (990 for 2024)
AARON S DEJONG, 3303 NORTH SERVICE DRIVE, RED WING, MN 55066
Signed the 990
AARON S DEJONG, PRESIDENT
Phone
(651) 388-7133
Return prepared by
CLIFTONLARSONALLEN LLP

Mission

TO PROVIDE LENDING, SAVINGS, AND OTHER FINANCIAL SERVICES TO ITS QUALIFYING MEMBERS AT TERMS GENERALLY BETTER THAN AVAILABLE IN THE MARKETPLACE AND WITH A "SERVICE-BASED EMPHASIS" THAT RECOGNIZES THE MEMBERS' STATUS AS "OWNER".

990 for the year ended December 31, 2024

Program accomplishments

  • THE RED WING CREDIT UNION PRESENTLY HAS 5,465 CONSUMER LOANS IN SERVICE FOR A TOTAL VOLUME OF $103,258,937. THE CREDIT UNION ALSO HAS 80 COMMERCIAL LOANS FOR ATOTAL VOLUME OF $8,904,705. WE HAVE 1,501 VISA LOAN ACCOUNTS IN SERVICE FOR A TOTAL VOLUME OF $1,763,042. THE INTEREST RATES CHARGED ON THESE LOANS IS WELLBELOW THAT OF OUR LOCAL COMPETITION.
  • THE RED WING CREDIT UNION OFFERS SAVINGS DEPOSIT RATES THAT ARE GENERALLY HIGHER THAN OUR LOCAL COMPETITION. WE OFFER BOTH REGULAR AND IRA CERTIFICATES OF DEPOSIT.
  • THE RED WING CREDIT UNION OFFERS VARIOUS CHECKING ACCOUNTS THAT ARE VERY COMPETITIVELY PRICED IN OUR LOCAL MARKET. ALL OUR FEES ARE LOWER THAN THE COMPETITION. IN GENERAL, WE OFFER BETTER PRODUCTS AT A BETTER PRICE.

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
41-0793629
Tax-exempt status
501(c)(14): State-chartered credit union
Donations deductible
No
Exempt since
1944
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$189,609,527
Income (IRS master file)
$9,499,093

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$9,499,093$7,428,928$189,609,527XML
990December 2023$7,704,785$5,888,288$171,110,209XML
990December 2022$6,740,657$4,406,546$168,614,210IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2019–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 41-0793629).

Questions about RED WING CREDIT UNION

What is the EIN of RED WING CREDIT UNION?
The employer identification number (EIN) of RED WING CREDIT UNION is 41-0793629.
Is RED WING CREDIT UNION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1944.
Are donations to RED WING CREDIT UNION tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does RED WING CREDIT UNION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of RED WING CREDIT UNION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did RED WING CREDIT UNION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of RED WING CREDIT UNION?
The 990 for the year ended December 31, 2024 names AARON S DEJONG.
Who are the officers and directors of RED WING CREDIT UNION?
The 990 for the year ended December 31, 2024 lists 9 people; 9 received compensation from the organization, the highest $331,125 (AARON DEJONG, PRESIDENT).
How much revenue does RED WING CREDIT UNION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $9,499,093, expenses of $7,428,928 and total assets of $189,609,527 at year end.

Other nonprofits in RED WING

All nonprofits in RED WING · Minnesota