Sep, 30, 2025 — MINNESOTA POWER EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in DULUTH, MN with 3 branch locations and about $158.15 million in total assets. Opened 93 years ago in 1933, MINNESOTA POWER EMPLOYEES CREDIT UNION has about 4,952 members and employs 20 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MINNESOTA POWER EMPLOYEES CREDIT UNION |
|---|---|
| Address: (Main Office) | 30 W Superior St Ste 126 DULUTH, MN 55802-2191 |
| Phone: | (218) 336-1800 |
| Fax: | (218) 336-1839 |
| Website: | https://www.mpecu.com |
| Branches: | 3 branch locations |
| Members: | 4,952 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60377 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1933 |
| Last Audited: | Jun 01, 2025 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $158,153,914 |
| CEO/Manager: | Jason Olsen |
| Chairperson: | Marcia Podratz |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,921,408 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 86,359,186 |
| Unsecured Loans | 3,293,749 |
| Other Loans | 30,759,578 |
| TOTAL LOANS | 120,412,513 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,645,059 |
| Land And Building | 0 |
| Other Fixed Assets | 366,524 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 1,046,883 |
| All Other Assets | 0 |
| TOTAL ASSETS | 158,153,914 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 489,102 |
| Notes & Interest Payable | 16,000,000 |
| Accounts Payable & Other Liabilities | 678,929 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 21,840,625 |
| Regular shares | 26,974,595 |
| All Other Shares & Deposits | 73,779,790 |
| TOTAL SHARES & DEPOSITS | 122,595,008 |
| TOTAL LIABILITIES | 139,774,567 |
| Regular Reserve | 0 |
| Other Reserves | -3,648,872 |
| Undivided Earnings | 22,028,219 |
| TOTAL EQUITY | 18,379,347 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 158,153,914 |
| INCOME & EXPENSE | |
| Loan Income | 5,454,682 |
| Investment Income | 664,992 |
| Other Income | 176,710 |
| Total Employee Compensation & Benefits | 1,393,772 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 1,677,551 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 590,553 |
| Cost of Funds | 2,107,274 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,241,757 |
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