CO-OP CREDIT UNION OF MONTEVIDEO (EIN 410693272) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1940

Legal Domicile

Principal Officer

KAYLA REIFFENBERGER

Phone

3202692117

Tax Period

2023-01-01 to 2023-12-31

CO-OP CREDIT UNION OF MONTEVIDEO, founded in 1940, is a mid-sized nonprofit that reported $17.0M in total revenue in fiscal year 2023. Revenue surged 24% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.3M, a strong 25% operating margin.

Mission

THE CREDIT UNION PROVIDES FINANCIAL SERVICES, INVESTMENT OPTIONS, AND LOANS FOR APPROXIMATELY 16,700 MEMBERS IN WEST CENTRAL MINNESOTA. THE CREDIT UNION HAS LOCATIONS IN MONTEVIDEO, BENSON, CANBY AND WILLMAR.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $14,491,924

Investment Income $2,462,230

Other Revenue $0

TOTAL REVENUE $16,954,154

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,232,910

Fundraising Expenses $0

Program Expenses $0

Other Expenses $4,355,598

TOTAL EXPENSES $12,703,146

Year-over-Year Comparison

	2023	2022	Change
Revenue	$16,954,154	$13,722,372	+0.2%
Expenses	$12,703,146	$9,240,563	+0.4%
Net Income	$4,251,008	$4,481,809	-0.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

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

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$341,492

Total Directors

$4,837

Key Employees

$320,137

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KAYLA REIFFENBERGER	PRESIDENT/CEO	40	Officer	$256,699	$84,793	$341,492
DANIEL PIEPER	CHIEF CREDIT OFFICER	40	Key Emp	$159,744	$36,273	$196,017
LOREN HANSEN	LOAN OFFICER	40	Highest	$116,663	$28,939	$145,602
SUSAN HILLEREN	COO	40	Highest	$109,258	$30,914	$140,172
ANNA SPRAY	CFO	40	Key Emp	$114,487	$9,633	$124,120
CHERI HUGHES	Branch Manager/Loan Officer	40	Highest	$102,899	$8,102	$111,001
KYLE KRANZ	BOARD MEMBER	0	Director	$750	$0	$750
PETER SCHMITZ	SECRETARY	0	Director	$611	$0	$611
BARB PEDERSON	SUPERVISORY CHAIRPERSON	0	Director	$568	$0	$568
JASON FRENCH	CHAIRPERSON	0	Director	$550	$0	$550
PATRICK CARRUTH	BOARD MEMBER	0	Director	$510	$0	$510
MARK TASTAD	BOARD OFFICER	0	Director	$490	$0	$490
DIANE DIETER	VICE CHAIRPERSON	0	Director	$473	$0	$473
AARON JAENISCH	SUPERVISORY MEMBER	0	Director	$335	$0	$335
JENNIFER STRYHN	BOARD MEMBER	0	Director	$320	$0	$320
RONDA OLSON	SUPERVISORY MEMBER	0	Director	$230	$0	$230

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$16,954,154	$12,703,146	$359,049,095	$4,251,008
2022	$13,722,372	$9,240,563	$359,509,912	$4,481,809
2021	$13,808,277	$9,064,483	$328,823,847	$4,743,794
2020	$12,544,172	$8,423,461	$270,896,101	$4,120,711
2019	$11,328,637	$7,793,780	$214,823,042	$3,534,857
2018	$9,686,862	$6,417,261	$196,810,677	$3,269,601

CO-OP CREDIT UNION OF MONTEVIDEO