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Employer Identification Number 41-0237440

ELY AREA CREDIT UNION is a USA domiciled entity or foreign entity operating in the USA. The EIN ihas been issued by the IRS

Company Name:ELY AREA CREDIT UNION
Employer identification number (EIN):41-0237440
EIN Issuing AuthorityPhiladelphia, PA
NAIC Classification:522130
NAIC Description:Credit Unions
401k Pension/Benefits registration ELY AREA CREDIT UNION 401k plan information
Federal tax statusExempt from federal income tax. Registered as a non-profit under 501(c)(3) Title 26 of the United States Code

Organization Overview

Mission StatementAS A MEMBER-OWNED FINANCIAL COOPERATIVE, WE WILL DEVELOPE AND OFFER COMPETITIVE PRODUCT LINES THAT MEET MEMBERS NEEDS WHILE MAINTAINING ASSET STRENGTH AND BE A FULL SERVICE ORGANIZATION THAT SATISFIES THE NEEDS OF THE MEMBERSHIP.
Number of Employees6
Number of Volunteers10
Year Formed1938

Organization Governance

Legal DomicileMN
Voting Members - Governing Body5
Voting Members - Independent5

Organization Financials

2023-12-31
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from current yearUSD $ 1,538,331
Investment Income from current yearUSD $ 501,979
Other Revenue from current yearUSD $ 289,699
Gross receipts from all sourcesUSD $ 2,330,009
Net assets / fund balances at end of fiscal yearUSD $ 64,949,446
Net assets / fund balances at beginning of fiscal yearUSD $ 55,099,979
Total liabilities at end of fiscal yearUSD $ 41,570
Total liabilities at beginning of fiscal yearUSD $ 89,235
Total assets at end of fiscal yearUSD $ 64,991,016
Total assets at beginning of fiscal yearUSD $ 55,189,214
Revenues less expenses for current yearUSD $ 956,220
Total expenses for current yearUSD $ 1,373,789
Other expenses in current yearUSD $ 853,401
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 520,388
Benefits paid to or for members in current yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Total revenue in current fiscal yearUSD $ 2,330,009
Contributions and grants from current yearUSD $ 0
Total of other revenueUSD $ 289,699
2022-12-31
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 1,305,558
Program Service Revenue from current yearUSD $ 1,369,739
Investment Income from prior yearUSD $ 310,940
Investment Income from current yearUSD $ 307,700
Other Revenue from prior yearUSD $ 264,239
Other Revenue from current yearUSD $ 188,883
Gross receipts from all sourcesUSD $ 1,866,322
Net assets / fund balances at end of fiscal yearUSD $ 63,599,410
Net assets / fund balances at beginning of fiscal yearUSD $ 63,167,511
Total liabilities at end of fiscal yearUSD $ 89,235
Total liabilities at beginning of fiscal yearUSD $ 43,168
Total assets at end of fiscal yearUSD $ 63,688,645
Total assets at beginning of fiscal yearUSD $ 63,210,679
Revenues less expenses for current yearUSD $ 431,899
Revenues less expenses for previous yearUSD $ 552,554
Total expenses for current yearUSD $ 1,434,423
Total expenses for previous yearUSD $ 1,328,183
Other expenses in current yearUSD $ 778,174
Other expenses in previous yearUSD $ 803,714
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 656,249
Employee salary and benefits paid in previous yearUSD $ 524,469
Benefits paid to or for members in current yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Total revenue in current fiscal yearUSD $ 1,866,322
Total revenue in previous fiscal yearUSD $ 1,880,737
Contributions and grants from current yearUSD $ 0
Total of other revenueUSD $ 188,883
2021-12-31
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 1,312,296
Program Service Revenue from current yearUSD $ 1,305,558
Investment Income from prior yearUSD $ 455,084
Investment Income from current yearUSD $ 310,940
Other Revenue from prior yearUSD $ 23,337
Other Revenue from current yearUSD $ 264,239
Gross receipts from all sourcesUSD $ 1,880,737
Net assets / fund balances at end of fiscal yearUSD $ 63,167,511
Net assets / fund balances at beginning of fiscal yearUSD $ 54,332,152
Total liabilities at end of fiscal yearUSD $ 43,168
Total liabilities at beginning of fiscal yearUSD $ 33,165
Total assets at end of fiscal yearUSD $ 63,210,679
Total assets at beginning of fiscal yearUSD $ 54,365,317
Revenues less expenses for current yearUSD $ 517,307
Revenues less expenses for previous yearUSD $ 582,574
Total expenses for current yearUSD $ 1,363,430
Total expenses for previous yearUSD $ 1,208,143
Other expenses in current yearUSD $ 803,714
Other expenses in previous yearUSD $ 665,925
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 559,716
Employee salary and benefits paid in previous yearUSD $ 393,983
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 148,235
Grants and similar amounts paid in current yearUSD $ 0
Total revenue in current fiscal yearUSD $ 1,880,737
Total revenue in previous fiscal yearUSD $ 1,790,717
Contributions and grants from current yearUSD $ 0
Total of other revenueUSD $ 264,239
2020-12-31
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 5,061
Program Service Revenue from prior yearUSD $ 1,264,107
Program Service Revenue from current yearUSD $ 1,312,296
Investment Income from prior yearUSD $ 476,560
Investment Income from current yearUSD $ 455,084
Other Revenue from prior yearUSD $ 58,171
Other Revenue from current yearUSD $ 23,337
Gross receipts from all sourcesUSD $ 1,790,717
Net assets / fund balances at end of fiscal yearUSD $ 54,332,152
Net assets / fund balances at beginning of fiscal yearUSD $ 43,629,402
Total liabilities at end of fiscal yearUSD $ 33,165
Total liabilities at beginning of fiscal yearUSD $ 64,579
Total assets at end of fiscal yearUSD $ 54,365,317
Total assets at beginning of fiscal yearUSD $ 43,693,981
Revenues less expenses for current yearUSD $ 582,574
Revenues less expenses for previous yearUSD $ 465,779
Total expenses for current yearUSD $ 1,208,143
Total expenses for previous yearUSD $ 1,333,059
Other expenses in current yearUSD $ 665,925
Other expenses in previous yearUSD $ 766,697
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 393,983
Employee salary and benefits paid in previous yearUSD $ 566,362
Benefits paid to or for members in current yearUSD $ 148,235
Grants and similar amounts paid in current yearUSD $ 0
Total revenue in current fiscal yearUSD $ 1,790,717
Total revenue in previous fiscal yearUSD $ 1,798,838
Contributions and grants from current yearUSD $ 0
Total of other revenueUSD $ 23,337
2019-12-31
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 1,180,707
Program Service Revenue from current yearUSD $ 1,264,107
Investment Income from prior yearUSD $ 354,876
Investment Income from current yearUSD $ 476,560
Other Revenue from prior yearUSD $ 67,051
Other Revenue from current yearUSD $ 58,171
Gross receipts from all sourcesUSD $ 1,798,838
Net assets / fund balances at end of fiscal yearUSD $ 43,693,981
Net assets / fund balances at beginning of fiscal yearUSD $ 43,228,202
Total liabilities at end of fiscal yearUSD $ 64,579
Total liabilities at beginning of fiscal yearUSD $ 42,050
Total assets at end of fiscal yearUSD $ 43,758,560
Total assets at beginning of fiscal yearUSD $ 43,270,252
Revenues less expenses for current yearUSD $ 465,779
Revenues less expenses for previous yearUSD $ 374,297
Total expenses for current yearUSD $ 1,333,059
Total expenses for previous yearUSD $ 1,228,337
Other expenses in current yearUSD $ 766,697
Other expenses in previous yearUSD $ 721,494
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 566,362
Employee salary and benefits paid in previous yearUSD $ 506,843
Benefits paid to or for members in current yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Total revenue in current fiscal yearUSD $ 1,798,838
Total revenue in previous fiscal yearUSD $ 1,602,634
Contributions and grants from current yearUSD $ 0
Total of other revenueUSD $ 58,171
2018-12-31
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 1,048,990
Program Service Revenue from current yearUSD $ 1,180,707
Investment Income from prior yearUSD $ 296,110
Investment Income from current yearUSD $ 354,876
Other Revenue from prior yearUSD $ 42,761
Other Revenue from current yearUSD $ 67,051
Gross receipts from all sourcesUSD $ 1,602,634
Net assets / fund balances at end of fiscal yearUSD $ 43,228,202
Net assets / fund balances at beginning of fiscal yearUSD $ 38,689,088
Total liabilities at end of fiscal yearUSD $ 42,050
Total liabilities at beginning of fiscal yearUSD $ 24,697
Total assets at end of fiscal yearUSD $ 43,270,252
Total assets at beginning of fiscal yearUSD $ 38,713,785
Revenues less expenses for current yearUSD $ 374,297
Revenues less expenses for previous yearUSD $ 260,891
Total expenses for current yearUSD $ 1,228,337
Total expenses for previous yearUSD $ 1,126,970
Other expenses in current yearUSD $ 721,494
Other expenses in previous yearUSD $ 625,053
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 506,843
Employee salary and benefits paid in previous yearUSD $ 501,917
Benefits paid to or for members in current yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Total revenue in current fiscal yearUSD $ 1,602,634
Total revenue in previous fiscal yearUSD $ 1,387,861
Contributions and grants from current yearUSD $ 0
Total of other revenueUSD $ 67,051
2017-12-31
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 936,212
Program Service Revenue from current yearUSD $ 1,048,990
Investment Income from prior yearUSD $ 241,927
Investment Income from current yearUSD $ 296,110
Other Revenue from prior yearUSD $ 39,779
Other Revenue from current yearUSD $ 42,761
Gross receipts from all sourcesUSD $ 1,387,861
Net assets / fund balances at end of fiscal yearUSD $ 38,689,088
Net assets / fund balances at beginning of fiscal yearUSD $ 38,428,197
Total liabilities at end of fiscal yearUSD $ 24,697
Total liabilities at beginning of fiscal yearUSD $ 15,363
Total assets at end of fiscal yearUSD $ 38,713,785
Total assets at beginning of fiscal yearUSD $ 38,443,560
Revenues less expenses for current yearUSD $ 260,891
Revenues less expenses for previous yearUSD $ 264,552
Total expenses for current yearUSD $ 1,126,970
Total expenses for previous yearUSD $ 953,366
Other expenses in current yearUSD $ 625,053
Other expenses in previous yearUSD $ 495,599
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 501,917
Employee salary and benefits paid in previous yearUSD $ 457,767
Benefits paid to or for members in current yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Total revenue in current fiscal yearUSD $ 1,387,861
Total revenue in previous fiscal yearUSD $ 1,217,918
Contributions and grants from current yearUSD $ 0
Total of other revenueUSD $ 42,761
2016-12-31
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 696,593
Program Service Revenue from current yearUSD $ 936,212
Investment Income from prior yearUSD $ 100,453
Investment Income from current yearUSD $ 241,927
Other Revenue from prior yearUSD $ 12,256
Other Revenue from current yearUSD $ 39,779
Gross receipts from all sourcesUSD $ 1,217,918
Net assets / fund balances at end of fiscal yearUSD $ 38,428,197
Net assets / fund balances at beginning of fiscal yearUSD $ 22,831,828
Total liabilities at end of fiscal yearUSD $ 15,363
Total liabilities at beginning of fiscal yearUSD $ 87,243
Total assets at end of fiscal yearUSD $ 38,443,560
Total assets at beginning of fiscal yearUSD $ 22,919,071
Revenues less expenses for current yearUSD $ 264,552
Revenues less expenses for previous yearUSD $ 161,141
Total expenses for current yearUSD $ 953,366
Total expenses for previous yearUSD $ 648,161
Other expenses in current yearUSD $ 495,599
Other expenses in previous yearUSD $ 362,163
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 457,767
Employee salary and benefits paid in previous yearUSD $ 285,998
Benefits paid to or for members in current yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Total revenue in current fiscal yearUSD $ 1,217,918
Total revenue in previous fiscal yearUSD $ 809,302
Contributions and grants from current yearUSD $ 0
Total of other revenueUSD $ 39,779
2015-12-31
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 676,560
Program Service Revenue from current yearUSD $ 696,593
Investment Income from prior yearUSD $ 86,515
Investment Income from current yearUSD $ 100,453
Other Revenue from current yearUSD $ 12,256
Gross receipts from all sourcesUSD $ 809,302
Net assets / fund balances at end of fiscal yearUSD $ 22,831,828
Net assets / fund balances at beginning of fiscal yearUSD $ 22,670,687
Total liabilities at end of fiscal yearUSD $ 87,243
Total liabilities at beginning of fiscal yearUSD $ 193,288
Total assets at end of fiscal yearUSD $ 22,919,071
Total assets at beginning of fiscal yearUSD $ 22,863,975
Revenues less expenses for current yearUSD $ 161,141
Revenues less expenses for previous yearUSD $ 121,777
Total expenses for current yearUSD $ 648,161
Total expenses for previous yearUSD $ 641,298
Other expenses in current yearUSD $ 362,163
Other expenses in previous yearUSD $ 323,256
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 285,998
Employee salary and benefits paid in previous yearUSD $ 297,294
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 20,748
Grants and similar amounts paid in current yearUSD $ 0
Total revenue in current fiscal yearUSD $ 809,302
Total revenue in previous fiscal yearUSD $ 763,075
Contributions and grants from current yearUSD $ 0
Total of other revenueUSD $ 12,256

Organization Addresses

The following addresses have been detected as associated with Tax Indentification Number 410237440

USA Location Address
2 E CHAPMAN ST
ELY
MN
55731
Date first seen: 2007-01-01
Date last seen: 2024-07-31

EIN Events

Event Date Event description
2009-12-31Form 990-N declaration of Gross Receipts Under $25,000 in tax year 2009

Nearby companies/organizations

The following companies are located in the same ZIP code areas:

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