Program areas at Ideal Credit Union
The Credit Union provides financial services to approximately 50,295 members. All excess earnings of the Credit Union go to retained earnings, our only source of capital. We provide a broad array of financial services including consumer loans, real estate loans and business loans.
The Credit Union provides access to all members through both telephone and internet services.
The Credit Union provides a wide array of deposit products to our members including savings, money market, ira's, cd's and checking. Attached to the checking we offer access to atm's, debit cards, ach and other payment systems.
Personnel at Ideal Credit Union
| Name | Title | Compensation | Date of data |
|---|
| Brian Sherrick | Chief Executive Officer | $757,513 | 2024-11-12 |
| Dennis Bauer | Chief Financial Officer - Executive Vice President | $745,561 | 2023-12-31 |
| Lawrence Miggler | Chief Technology Officer / Senior Vice President Information Systems | $311,327 | 2023-12-31 |
| Courtney Hussey | Vice President Operations | $169,636 | 2023-12-31 |
| Shannon Butler | Senior Vice President Operations | $241,317 | 2023-12-31 |
| ...and 18 more key personnel |
Financials for Ideal Credit Union
| Revenues | FYE 12/2023 | FYE 12/2022 | % Change |
|---|
| Total grants, contributions, etc. | $0 | $0 | - |
| Program services | $50,492,582 | $44,488,986 | 13.5% |
| Investment income and dividends | $5,606,534 | $3,708,477 | 51.2% |
| Tax-exempt bond proceeds | $0 | $0 | - |
| Royalty revenue | $0 | $0 | - |
| Net rental income | $0 | $0 | - |
| Net gain from sale of non-inventory assets | $79,009 | $-25,790 | 406.4% |
| Net income from fundraising events | $0 | $0 | - |
| Net income from gaming activities | $0 | $0 | - |
| Net income from sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $0 | $0 | - |
| Total revenues | $56,178,125 | $48,171,673 | 16.6% |
Organizations like Ideal Credit Union
| Organization | Type | Location | Revenue |
|---|
| First Alliance Credit Union | 501(c)(14) | Stewartville, MN | $20,652,686 |
| Minnco Credit Union | 501(c)(14) | Cambridge, MN | $22,040,179 |
| Magnifi Financial Credit Union | 501(c)(14) | Melrose, MN | $128,720,153 |
| City & County Credit Union (CCCU) | 501(c)(14) | Saint Paul, MN | $53,343,575 |
| My Credit Union | 501(c)(14) | Bloomington, MN | $18,120,740 |
| Southpoint Financial Credit Union | 501(c)(14) | Sleepy Eye, MN | $21,293,740 |
| Members Cooperative Credit Union (MCCU) | 501(c)(14) | Duluth, MN | $46,427,247 |
| Community First Credit Union | 501(c)(14) | Santa Rosa, CA | $36,766,136 |
| Credit Unions Chartered in the State of Michigan - 311 Alpena Alcona Area Credit Union (AAACU) | 501(c)(14) | Alpena, MI | $23,924,797 |
| Texas Trust Credit Union | 501(c)(14) | Arlington, TX | $83,493,624 |
Data update history
January 18, 2024
Posted financials
Added Form 990 for fiscal year 2022
January 9, 2024
Updated personnel
Identified 13 new personnel
December 27, 2023
Used new vendors
Identified 2 new vendors, including , and
November 25, 2023
Posted financials
Added Form 990 for fiscal year 2021
July 11, 2023
Used new vendors
Identified 4 new vendors, including , , , and
Nonprofit Types
Credit unionsChapter / child organizations
Issues
No issues found
Characteristics
State / local level
General information
- Address
- 8499 Tamarack Rd
- Woodbury, MN 55125
- Metro area
- Minneapolis-St. Paul-Bloomington, MN-WI
- County
- Washington County, MN
- Website URL
- idealcu.com/Â
- Phone
- (651) 770-7000
- Facebook page
- IdealCUÂ
IRS details
- EIN
- 41-0519270
- Fiscal year end
- December
- Taxreturn type
- Form 990
- Year formed
- 1926
- Eligible to receive tax-deductible contributions (Pub 78)
- No
Categorization
- NTEE code, primary
- W60: Financial Institutions, Credit Unions
- NAICS code, primary
- 522130: Credit Unions
- Parent/child status
- Child within group exemption
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