Overview
What is Minnco Credit Union?
Minnco Credit Union, located at 235 1st Ave W in Cambridge, Minnesota, is a state-chartered financial institution with a mission to foster savings and serve as a lending source for its 31,010 members. The organization, which employs 121 individuals, has extended 18,828 loans to credit-seeking members. Minnco Credit Union's activities are centered around promoting thrift and offering financial assistance to its community.
Official website here: www.minnco.com
What do the Facebook reviews say about Minnco Credit Union?
76% of 65 reviewers on Facebook recommend Minnco Credit Union. Here is a summary of their reviews:
Some long-term members express disappointment, feeling that the credit union has lost its close-knit "family bank" atmosphere and resembles larger, impersonal institutions. They mention that the customer service and overall experience have changed over time, which has contributed to a sense of dissatisfaction.
However, there are members who appreciate the services provided, indicating that certain aspects of the credit union still resonate positively with them. Overall, the sentiment is mixed, reflecting both nostalgia for a more personalized experience and the challenges of modern banking expectations.
This AI summary has been generated from reviews found on Facebook.
Is Minnco Credit Union legitimate?
Minnco Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Minnco Credit Union submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $457,388
Professional Fundraising Fees: $0
Other Salaries and Wages: $5,831,490
For more financial information, click here
Official website here: www.minnco.com
What is the mission statement of Minnco Credit Union?
Minnco Credit Union is a state-chartered financial institution dedicated to fostering savings and serving as a lending source for its 31,010 members. Its mission statement, "nurturing relationships exceeding expectations," reflects its commitment to building strong connections with its clientele. The credit union has extended 18,828 loans to those in need of credit, underscoring its role as a reliable financial partner. Through its lending activities, Minnco Credit Union aims to improve the financial well-being of its members and contribute to their overall financial stability. The organization's focus on member satisfaction and growth is a testament to its dedication to exceeding expectations.
Official website here: www.minnco.com
What is the revenue of Minnco Credit Union?
Minnco Credit Union's revenue in 2024 was $26,953,300.
Official website here: www.minnco.com
Who are the executives of Minnco Credit Union and what are their salaries?
The average compensation at Minnco Credit Union during 2024 was $48,751. There are 129 employees and 7 volunteers at Minnco Credit Union.
Here are 12 key members and their salaries:
- Compensation: $454,920
- Related: $0
- Other: $51,519
- Compensation: $195,932
- Related: $0
- Other: $45,847
- Compensation: $149,093
- Related: $0
- Other: $31,839
- Compensation: $152,875
- Related: $0
- Other: $26,290
- Compensation: $136,914
- Related: $0
- Other: $30,915
- Compensation: $150,091
- Related: $0
- Other: $14,258
- Compensation: $573
- Related: $0
- Other: $0
- Compensation: $463
- Related: $0
- Other: $0
- Compensation: $404
- Related: $0
- Other: $0
- Compensation: $379
- Related: $0
- Other: $0
- Compensation: $354
- Related: $0
- Other: $0
- Compensation: $266
- Related: $0
- Other: $0
Official website here: www.minnco.com
Where can I find the form 990 for Minnco Credit Union?
Minnco Credit Union's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.minnco.com
Learn more at the official website: www.minnco.com
Mission Statement of Minnco Credit Union
Minnco Credit Union, a state-chartered financial institution, is dedicated to fostering relationships and surpassing expectations for its 31,010 members. The organization's primary mission revolves around promoting savings and serving as a reliable lending source. Minnco Credit Union has extended its reach by approving 18,828 loans to its credit-seeking members, reinforcing its commitment to financial empowerment. By nurturing strong connections with its clientele, Minnco Credit Union distinguishes itself as a trusted financial partner.
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Impact
October, 2024
Minnco Credit Union plays a significant role in the financial wellbeing of its community by serving 31,010 members through a state-chartered structure designed to promote thrift and provide accessible credit. By granting 18,828 loans to credit-seeking members, Minnco helps individuals achieve their financial goals, whether it's buying a home, financing education, or managing personal expenses.
The credit union emphasizes nurturing relationships and exceeding member expectations, fostering a sense of community and trust. This commitment not only impacts individual members but also contributes positively to the local economy in Cambridge, MN, by encouraging responsible borrowing and saving behaviors. Through its focus on personal financial empowerment, Minnco Credit Union enhances the overall quality of life for its members and strengthens the community as a whole.
This information is meant to be a general summary of Minnco Credit Union. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $4,236,935
- Program Service Revenue: $22,783,887
- Gross Receipts: $29,420,319
Assets and Liabilities:
- Total Assets: $505,736,590
- Total Liabilities: $479,173,398
- Net Assets: $26,563,192
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Income from Loans
Revenue
$16,932,121
Service Fees on Accounts
Revenue
$5,146,637
Organization Details
Founding Year
1935
Principal Officer
Doug Hallstrom
Website
www.minnco.comNTEE Category
Code: W60 - Public benefit
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