DULUTH, MN
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)MINNESOTA POWER EMPLOYEES CREDIT UNION, founded in 1933, is a community nonprofit that reported $6.9M in total revenue in fiscal year 2023. Revenue surged 36% from the prior year, signaling strong growth momentum. Expenses of $5.8M left a modest 15% surplus.
YOUR SUCCESSFUL FINANCIAL JOURNEY IS OUR PASSION.
MPECU PROVIDED FEE-FREE CHECKING ACCOUNTS, TIERED SAVINGS ACCOUNTS, IRA ACCOUNTS AND TERM DEPOSITS TO ITS MEMBERS. MEMBERS WERE PAID $830,760 IN DIVIDENDS ON THEIR ACCOUNTS AND RECEIVED FEE DISCOUNTS...
MPECU PROVIDED FEE-FREE CHECKING ACCOUNTS, TIERED SAVINGS ACCOUNTS, IRA ACCOUNTS AND TERM DEPOSITS TO ITS MEMBERS. MEMBERS WERE PAID $830,760 IN DIVIDENDS ON THEIR ACCOUNTS AND RECEIVED FEE DISCOUNTS BASED ON THEIR PRODUCTS AND SERVICES UTILIZATION.
MPECU PROVIDES FREE ONLINE FINANCIAL MANAGEMENT TOOLS TO ITS MEMBERS. DURING 2023, THE CREDIT UNION PAID APPROXIMATELY $49,982 FOR THESE TYPES OF SERVICES.
MPECU HAS AN ATM FEE REIMBURSEMENT PROGRAM THAT REFUNDED $46,220 IN ATM SURCHARGE FEES BACK TO ITS MEMBERS.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $6,860,848 | $5,060,015 | +0.4% |
| Expenses | $5,846,752 | $4,086,098 | +0.4% |
| Net Income | $1,014,096 | $973,917 | +0.0% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| MIKE FRENCH | BOARD MEMBER | 2.00 |
Director
|
$0 | $0 | $0 |
| MARCIA PODRATZ | BOARD CHAIR | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| JEREMY CAINE | BOARD MEMBER | 2.00 |
Director
|
$0 | $0 | $0 |
| KENT OLIVER | BOARD MEMBER | 2.00 |
Director
|
$0 | $0 | $0 |
| NATHAN SCHMIDT | SECRETARY | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| THOMAS MEYER | BOARD MEMBER | 2.00 |
Director
|
$0 | $0 | $0 |
| STEVE SHARKEY | VICE CHAIR | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| DEBORA ALMIRALL | PRESIDENT/CEO | 40.00 |
Officer
|
$190,831 | $35,824 | $226,655 |
| JASON OLSEN | SVP BUSINESS LENDING | 40.00 |
Highest
|
$144,792 | $13,960 | $158,752 |
| ANNIE LEPPER | VP LENDING & MARKETING | 40.00 |
Highest
|
$105,797 | $30,507 | $136,304 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $6,860,848 | $5,846,752 | $147,383,740 | $1,014,096 |
| 2022 | $5,060,015 | $4,086,098 | $122,966,915 | $973,917 |
| 2021 | $4,364,671 | $4,085,794 | $121,515,330 | $278,877 |
| 2020 | $4,065,026 | $3,719,766 | $111,618,828 | $345,260 |
| 2019 | $4,455,132 | $3,916,924 | $97,433,358 | $538,208 |
| 2018 | $4,231,614 | $3,972,181 | $99,421,405 | $259,433 |
Compare MINNESOTA POWER EMPLOYEES CREDIT UNION with other nonprofits in Minnesota and across the country.