Members Cooperative Credit Union
501(c)(14)
Only null% goes to programs Strong reserves Growing revenue
Members Cooperative Credit Union is a 501(c)(14) organization based in Duluth, Minnesota, registered in 1944, with $65,178,355 in FY2024 revenue. CharityIndex grades it A.
215 N 40th Ave W, Duluth, MN, 55807 EIN 41-0195345 Since 1944
Revenue (FY2024)
$65.2M
▲ 7.4% vs prior year
Expenses (FY2024)
$60.6M
Net assets
$105.0M
Employees
281
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Members Cooperative Credit Union— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating21 mo reserves · +7% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Members Cooperative Credit Union: 21 mo reserves · +7% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Members Cooperative Credit Union: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Members Cooperative Credit Union: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
To conduct the ordinary and necessary business of a credit union involving the receiving of savings of members and lending money to members for provident purposes.
What they do
26,547 loans totaling over $925 million were active for consumer, mortgage and commercial loans. our goal is to offer loans at reasonable rates to our members. to provide indirect loans to customers of auto dealerships in the area at competitive rates.
Availability of 15 of our own atm's as well as a large network of atm's nation and world wide to our members and non-members. we want to offer convenience to our members after hours and away from home.
Contact & location
Financial trends
Revenue grew from $20.0M (FY2013) to $65.2M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $1.0BNet assets $105.0M
Operating margin
7.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.2B
Total liabilities
$1.0B
Net assets
$105.0M
Salaries & benefits
$20.6M
34% of expenses
Board members
7
7 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $65,178,355▲7.4% | $60,606,630 | $104,980,242▲5.0% | $1,150,000,075▼3.7% | 990 |
| 2023 | $60,672,514▲30.7% | $60,581,870▲29.5% | $99,975,494▲0.7% | $1,193,596,347▲3.6% | 990 |
| 2022 | $46,427,247▲1.6% | $46,777,629▲22.0% | $99,245,269▼8.4% | $1,152,300,712▲8.3% | 990 |
| 2021 | $45,708,037▲4.3% | $38,334,935▲3.2% | $108,374,589▲5.7% | $1,064,400,556▲14.8% | 990 |
| 2020 | $43,835,054▲6.3% | $37,131,319▲6.0% | $102,524,351▲7.5% | $927,228,890▲16.5% | 990 |
| 2019 | $41,235,372▲8.4% | $35,023,183▲6.1% | $95,395,762▲7.0% | $796,073,008▲7.8% | 990 |
| 2018 | $38,043,681▲20.0% | $33,020,549▲19.2% | $89,183,573▲6.0% | $738,388,167▲7.1% | 990 |
| 2017 | $31,709,614▲8.8% | $27,710,653▲10.2% | $84,160,441▲5.4% | $689,385,169▲9.4% | 990 |
| 2016 | $29,142,034▲15.8% | $25,134,827▲7.3% | $79,840,643▲4.6% | $630,208,071▲0.2% | 990 |
| 2015 | $25,161,437▲26.5% | $23,427,743▲49.8% | $76,353,969▲45.9% | $628,943,926▲50.0% | 990 |
| 2014 | $19,883,549▼0.7% | $15,640,463▲6.1% | $52,338,724▲8.7% | $419,313,873▲9.5% | 990 |
| 2013 | $20,020,255 | $14,737,253▼16.4% | $48,142,621▲12.3% | $382,821,312▲9.4% | 990 |
| 2012 | — | $17,631,466▼9.3% | $42,859,619▲13.1% | $349,820,633▲7.2% | 990 |
| 2011 | — | $19,447,630▲6.7% | $37,894,801▲7.8% | $326,389,845▲9.4% | 990 |
| 2010 | — | $18,227,255▼10.7% | $35,154,186▲13.8% | $298,216,686▲17.9% | 990 |
| 2008 | — | $20,402,078 | $30,895,359 | $252,991,827 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Stephen Ewers — $556,461 (0.92% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Stephen Ewers | President/ceo | 55 | $556,461 |
| Janet Vold | Cio/coo | 50 | $412,677 |
| Ralph Hamann | Cfo/chro | 50 | $397,179 |
| Simone Suri | General Counsel | 50 | $339,660 |
| Stephan Glonchak | Chief Lending Officer | 50 | $334,187 |
| Brae Olson | Vp Marketing | 45 | $182,816 |
| Andy Joneson | Vp It | 45 | $175,366 |
| Susan Shold | Vp Human Resources | 45 | $162,987 |
| Marisa Jerama | Vp Retail Management | 45 | $159,669 |
| Cory Stenson | Mortgage Manager | 45 | $153,472 |
| Doris Dahl | Chair | 14.7 | $18,000 |
| David Vukelich | Board Vice Chair | 13.1 | $12,000 |
| Joe Wolff | Director | 3.2 | $6,000 |
| John Gilbert | Director | 6.7 | $6,000 |
| Mary Krohn | Associate Director | 5 | $6,000 |
| Nial Andre Muson Klyn | Associate Director | 4 | $6,000 |
| Rodney Bibeau | Director | 1.3 | $6,000 |
| Russ Salgy | Director | 7.1 | $6,000 |
| Peter Vang | Director | 6.7 | $4,500 |
| Jennie Siebert | Director | 6.7 | $3,000 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Fiserv | Annual Software Maintenance | $2,322,122 |
| Integris | Computer Service Contract | $864,468 |
| Bj Baas Builders | Contractor For Remodel of New Branch Loc | $745,150 |
| Nusource Financial LLC | Technology and Installment of New Itms | $734,424 |
| Servion Commercial Loan | Loan Servicing | $503,449 |
Grants made · $88K in FY2024
4 grants totaling $88K in FY2024. All grants made by Members Cooperative Credit Union →
| Recipient | Purpose | Amount |
|---|---|---|
| Grandmas Marathon Duluth Inc | Sponsorship and support of community event | $60,000 |
| Members Cooperative Credit Union Community Youth Foundation | Support youth foundation events | $10,000 |
| University of Minnesota Regents | Sponsorship of college sports | $10,000 |
| Minnesota A-a-e | Sponsorship and support of community event | $7,500 |
Frequently asked questions
- Is Members Cooperative Credit Union a legitimate nonprofit?
- Yes. Members Cooperative Credit Union is a 501(c)(14) organization registered with the U.S. Internal Revenue Service under EIN 41-0195345, based in Duluth, Minnesota.
- What is Members Cooperative Credit Union's EIN?
- Members Cooperative Credit Union's Employer Identification Number (EIN) is 41-0195345.
- How much revenue does Members Cooperative Credit Union report?
- Members Cooperative Credit Union reported $65,178,355 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Members Cooperative Credit Union have?
- CharityIndex grades Members Cooperative Credit Union A, based on financial health (reserves and operating margin).
- How much does Members Cooperative Credit Union's highest-paid employee make?
- The highest reported compensation on Members Cooperative Credit Union's latest Form 990 is $556,461, paid to Stephen Ewers (President/ceo).
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Data for Members Cooperative Credit Union (EIN 41-0195345) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.