Organizations Filed Purposes:
YOUR SUCCESSFUL FINANCIAL JOURNEY IS OUR PASSION.
MEMBER OWNED AND MEMBER DRIVEN
MPECU PROVIDES A FULL RANGE OF COMPETITIVELY PRICED FINANCIAL PRODUCTS AND SERVICES TO ITS MEMBERS. LOANS PROVIDED INCLUDE PERSONAL SECURED, UNSECURED, REAL ESTATE, CREDIT CARDS AND MEMBER BUSINESS LOANS ARE COMPETITIVELY PRICED. CREDIT CARDS ARE OFFERED AT AS LOW AS 7.9% APR AND INCLUDE POINT-BASED INCENTIVES AND NO ANNUAL FEE. MPECU PROVIDED FEE-FREE CHECKING ACCOUNTS, TIERED SAVINGS ACCOUNTS, IRA ACCOUNTS AND TERM DEPOSITS. MEMBERS WERE PAID $254,632 IN DIVIDENDS ON THEIR ACCOUNTS AND RECEIVED FEE DISCOUNTS BASED ON THEIR PRODUCTS AND SERVICES UTILIZATION. MPECU HAS AN ATM FEE REIMBURSEMENT PROGRAM THAT REFUNDED $40,395 IN ATM SURCHARGE FEES BACK TO THE MEMBERS.
MPECU PROVIDES FREE ONLINE FINANCIAL MANAGEMENT TOOLS TO MEMBERS. DURING 2019, THE CREDIT UNION PAID APPROXIMATELY $35,152 FOR THESE TYPES OF SERVICES. IN 2019 2,845 MEMBERS PERFORMED 74,954 ONLINE BANKING FUNCTIONS AND PAID 9,510 BILLS ONLINE. MPECU ALSO ADDED AN ONLINE PERSONAL FINANCIAL MANAGEMENT TOOL FREE TO MEMBERS. THE ANNUAL COST TO THE CREDIT UNION FOR THIS SERVICE IS $13,800.
MPECU IS A STRONG PROMOTER OF FINANCIAL LITERACY AND PROMOTES FINANCIAL EDUCATION AND PROVIDES COMMUNITY SUPPORT. IN 2019, MPECU PROVIDED $2,000 IN SCHOLARSHIPS TO MEMBERS AND $40,357 TO SUPPORT THE FOLLOWING ORGANIZATIONS AND ACTIVITIES: LSS FINANCIAL COUNSELING SERVICES FOR MEMBERS, SEVERAL SCHOOL ROBOTIC PROGRAMS, MANY COMMUNITY SPORTS TEAMS FOR KIDS, UNITED WAY, ZEITGEIST ARTS CENTER, UMD, NORTHLAND NEWBORN FOUNTAIN, AMERICAN HEART ASSOCIATION, COMMUNITY ACTION DULUTH, CHAMBER OF COMMERCE. MN CREDIT UNION NETWORK, DULUTH-SUPERIOR FOUNDATION, GREATER DOWNTOWN COUNCIL, DULUTH CHAMBER OF COMMERCE, BOYS AND GIRLS CLUB AND SEVERAL MORE. IN ADDITION TO MONETARY CONTRIBUTIONS, MPECU EMPLOYEES DONATED HUNDREDS OF HOURS VOLUNTEERING FOR AND PARTICIPATING IN VARIOUS COMMUNITY ACTIVITIES.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Debora Almirall | PRESIDENT/CEO/TREASURER | 40 | $160,158 |
| Terese Thorstad | VP FINANCE/CFO | 40 | $89,836 |
| Doug Welnetz | DIRECTOR | 2 | $0 |
| Eric Skadsberg | DIRECTOR | 2 | $0 |
| Beth Fredrickson | DIRECTOR | 2 | $0 |
| Mike French | VICE CHAIR | 2 | $0 |
| Jeremy Caine | SECRETARY | 2 | $0 |
| Wing Chan | CHAIR | 2 | $0 |
| Bob Bastianelli | DIRECTOR | 2 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202003109349301270_public.xml