Field of MembershipALEXANDRIA 405 50th Avenue West(320) 762-2686 Fax (320) 763-3472

BAXTER 13283 Isle Drive(218) 829-0371 Fax (218) 822-2455

BRAINERD 200 South 6th Street(218) 829-0371 Fax (218) 829-4947

CROSBY 117 West Main Street (218) 546-5428 Fax (218) 546-6447

DETROIT LAKES (Summer 2015) 1135 Washington Avenue(218) 844-5540

LITTLE FALLS 307 1st Street SE(320) 632-6679 Fax (320) 632-3424

PEQUOT LAKES 30483 State Hwy 371(218) 568-8450 Fax (218) 568-8795

STAPLES 1220 North 4th Street(218) 894-2463 Fax (218) 894-2544

TWIN VALLEY 122 Main Avenue West(218) 584-5499 Fax (218) 584-5647

BAXTER DRIVE-THROUGH FACILITY8500 Fairview RoadSouth of the Westgate Mall, Hwy 210

MMFCU Locations

Jason Anakkala Secretary

Mark Korwin-Kuczynski

Executive TeamCharles (Chuck) Albrecht, CCEPresident/CEO

Mary Pedersen, CCUEChief Operations Officer

Doug WolfChief Financial Officer

DirectorsCheryl McKinneyDirector of Loss Prevention

Chris TangenVP of Technology

Dusti BorgDirector of Support Services

Jill CarlsonDirector of Training & Community Relations

Jon TomlinsonDirector of Mortgage Services

Jonathan LeMieurDirector of Consumer Lending

Karen MunsterteigerDirector of Accounting

Marnie Perfetti Galston, CCUEDirector of Marketing &Communications

Michelle BoggsDirector of Human Resources

Missy Borg, CCUEDirector of Branch Operations

Troy CasperDirector of Business Services

MMFCU Branch ManagersAmy SjobladPequot Lakes Branch Manager

Danielle AddisonBrainerd Branch Manager

Jeanne LeeLittle Falls Branch Manager

Jill DecentCrosby Branch Manager

Kimberly KortuemAlexandria Branch Manager

Nate OlsonRegional Manager

Terri KobliskaStaples Branch Manager

Tiffany HirscheyBaxter Branch Manager

Val RiepeTwin Valley Branch Manager

Board of DirectorsThe Board of Directors of Mid-Minnesota Federal Credit Union consists of nine individuals from varying communities throughout central Minnesota.

Executive Team, Directors & Management

Geoff Gorvin Al KollingTodd Froemming

Community Advisory BoardCredit unions are community organizations, formed and owned by our members. Keeping with this tradition, Mid-Minnesota has formed Community Advisory Councils. These council members serve as ambassadors for MMFCU – sharing information about our services while gathering vital input.

AlexandriaBill FranzenMike PorwollTamera LeeGlenda KvitekRandy Jansen

Brainerd/ BaxterKaren BolzMel DahlbergPat KruegerRod Carlson

CrosbyCalvin LutzkeBarry NelsonRoland AndersonSheldon W. Sanborn

Little FallsLinda BurggraffJan ErwinCathy HartleAaron Olson

Pequot LakesKathy Bittner LeeLeroy DudgeonJulie GowenDeb SommerLarry OaksCindy Hidde

StaplesDave JessopVern DrakeTerri DuffTom Neznik

Supervisory CommitteeThe primary function of your Supervisory Committee is to regularly audit all facets of the credit union, including financial management, administration, and operational practices. These volunteer members play an important role in our direction, ensuring the safety and security of your credit union funds.

Wayne (Bill) Bailey ChairmanCindy Nelson MemberAngella Roby Member

Geoff Gorvin MemberMike Woodard Member

Balance SheetsFor the years ended 2012, 2013, 2014

Income Statements

2012 Loan Mix(percentages)

Automobile 40%First Mortgage 22%Home Equity 12%Business Purpose 12%Recreational 7%VISA 5%Other 2%

0.0

0.2

0.4

0.6

0.8

1.0

Total Loans(in millions)

Total Assets(in millions)

10 11 12 10 11 12

$192 $187 $181 $222 $222$245

Total Loans(in millions)

Total Assets(in millions)

12 13 14 12 13 14

$185$187

$207$245 $251

$260

Loan Mix(percentages)

Automobile 44%First Mortgage 20%Business Purpose 12%Second Mortgage 8%Recreational 7%Other 5%Visa 4%

0.0

0.2

0.4

0.6

0.8

1.0

Total Loans(in millions)

Total Assets(in millions)

10 11 12 10 11 12

$192 $187 $181 $222 $222$245

Total Loans(in millions)

Total Assets(in millions)

10 11 12 10 11 12

$192 $187 $181 $222 $222$245

2014

2012 2013 2014 Assets Net Loans Outstanding $181,226,242 $184,535,775 $207,000,058 Cash & Cash Equivalents 43,884,220 32,851,855 10,071,210 Shares in Other Credit Unions - 7,480,000 – Investments - 5,458,000 21,338,446 Land & Buildings 7,426,500 7,197,470 7,060,360 Furniture & Equipment 741,086 1,288,500 1,947,817 Other Assets 11,720,879 12,223,265 12,886,143 Total Assets $ 244,998,927 $251,034,865 $260,304,034

Liabilities Accounts Payable/Other Liabilities $ 4,974,803 $ 4,208,423 $ 3,715,655 Dividends Payable 12,637 11,774 0 Borrowed Funds 0 0 0 Total Liabilities $ 4,987,440 $ 4,220,197 $ 3,715,655

Members’ Equity Shares $ 214,498,266 $218,706,423 $226,922,779 Regular Reserves 3,288,625 3,288,625 3,288,625 Undivided Earnings 22,224,596 24,819,620 26,376,975

Total Equity $240,011,487 $246,814,668 $256,588,379 Total Liabilities & Equity $244,998,927 $251,034,865 $260,304,034

2012 2013 2014 Interest Interest on Loans $ 11,050,306 $ 9,714,796 $ 9,038,752 Interest on Investments 69,540 112,675 214,490 Other Income 5,429,077 5,238,362 5,555,932

Total Income $ 16,548,923 $ 15,065,833 $ 14,809,174

Expenses Interest & Dividends to Members $ 727,036 $ 539,950 $ 429,581 Compensation 6,288,205 6,624,642 7,177,001 Office Expenses 3,032,434 2,993,519 3,124,526 Other Expenses 3,049,743 2,312,700 2,480,336

Total Expenses $ 13,097,418 $ 12,470,811 $ 13,211,444 Net Income $ 3,451,505 $ 2,595,023 $ 1,597,730

Mid-Minnesota Federal Credit Union serves all of Becker, Cass, Crow Wing, Douglas, Morrison, Norman, Todd and Wadena counties as well as Blowers and Paddock townships in Otter Tail County and various townships in Aitkin County.

If you live, work, worship, or attend school in any of the geographic regions listed above, or are a relative of someone who lives, works, worships, or attends school in these areas, you are eligible for membership.

You can become a member if you meet any of the above guidelines. A simple $5.00 deposit will make you a member/owner of MMFCU – allowing you to apply for any of our hundreds of free and low-cost services.

For more information about becoming a member and all of the products and services MMFCU offers, please visit our website or call your local branch office.

mmfcu.org

Federally insured by NCUA. Equal Housing Lender.

2014 ANNUAL REPORT

Federally insured by NCUA.

Theresa Goble Chairwoman

Rhonda SmithFirst Vice Chair

Jeff Wig Second Vice Chair

Bunny Johnson

Crow Wing

Cass

AitkinWadena

MorrisonToddDouglas

Norman

Becker

Otter Tail

THE THEME FOR THIS YEAR’S ANNUAL REPORT CONJURES UP MANY IMAGES IN MY MIND.

As the days get longer and warmer, you can’t help but notice the growing number of individuals outside and in-motion. From walking to running or riding bicycle, the change in seasons encourages more people to transition from a state of hibernation to getting out and moving about.

Our lives are also in a constant state of motion. How often have you thought to yourself you had wished there were more hours in a day to get things done? We are always on the go – from one meeting to another or one child’s activity to another and back home to make dinner and prepare for the next day.

The word motion, is defined as; “The action or process of moving or of chang-ing place or position; movement.”

While that definition came as no surprise to me, I took particular notice of ‘changing place or position.’

What would happen if we weren’t in motion? Obviously, some of us discover this the hard way over the long winter months when we try to fit back into last summer’s clothing. But all kidding aside – isn’t motion a good thing?

Recently, Mid-Minnesota Federal Credit Union announced the near completion of a core enhancement process. While we had grown accustomed and comfortable with how things were operating, we realized we needed to make the enhancement in order to keep making progress in the right direction. When making this decision for our membership, no stone was left unturned. MMFCU never settles for ‘okay.’ We want to not only meet your expectations, but exceed them.

The year 2014 was a 12-month process of continual motion for credit union staff. We are proud of where we’ve been, but even more proud of where we’re going and how far we’ve come. This Annual Report provides an opportunity to look back and realize just how much movement has taken place in a rather short span of time.

AS AFOREMENTIONED, we started a core enhancement process this past year. In fact, exploration into such a process began in April 2011 when MMFCU began exploring options of how to improve our behind-the-scenes structure. In October 2013, a firm was chosen; and in March 2014, the process commenced.

When our core enhancement is complete, likely late summer 2015, MMFCU will quickly be able to roll out tailored products and have the flexibility to expand into new lines of business as our organization grows.

This upgrade, or system enhancement, is an important technological advancement for our credit union.

SPEAKING OF IN-MOTION, we fully recognize that the face of how our members bank has completely changed over time. With that in mind, in 2014, MMFCU made great advancements in its online banking system. With our new online banking option, members now have the flexibility and convenience of viewing account balances, paying bills, locating ATMs, transferring funds, and more from virtually anywhere and at any time! Individuals also have the ability to customize their online experience to fit their specific needs, including a personalized landing page, budgeting, expense tracking, financial tips and goal setting abilities.

This new, user-friendly system replaced PC Teller and has allowed MMFCU the ability to provide many more requested features and functions to our membership, including Mobile Banking from a Smartphone!

MMFCU also revamped our website to a Responsive Website; which really means it’s available from wherever you are – including a Smartphone, personal computer, or tablet. Regardless of your means of surfing, this website will automatically adjust to complement the device. In addition to the advancement in technology, this website also adds new features including Rates at a Glance, a Social Media feed and links to those various platforms, an Alerts section that we will update with important messages to our members, and much more.

CHANGES IN TECHNOLOGY have allowed us to provide members with easier-than-ever ways to apply for loans, including a Property Improvement Loan, the AskAuto application, and Loanliner, a new online loan application; as well as switch accounts from other financial institutions to MMFCU with, literally, the click of a button – ClickSwitch. It’s amazing how far technology has come in the last year in ways to meet the demands of consumers.

WITH CONTINUED CHANGE, ONE THING HAS REMAINED THE SAME; and that is MMFCU’s commitment to community. Last year, we increased our outreach efforts and sponsored several events and initiatives aimed at making a difference in the lives of our friends and neighbors. Through our Miracle Mondays program, our membership and staff were able to raise over $7,300 for Gillette Children’s Specialty Healthcare.

The Miracle Mondays campaign kicked off in early November and allowed MMFCU staff to wear jeans to work on Mondays with a $2 contribution toward the fund. Members of the Credit Union were also encouraged to donate at any MMFCU branch through November 24th. All money raised was matched by MMFCU, and then matched again by the CO-OP Financial Miracle Match. What’s more, every ‘like’ on MMFCU’s Facebook page regard-ing the Miracle Mondays campaign also earned a dollar. In the end, the total contribution to Gillette Children’s Specialty Healthcare equaled $7,303.48.

FINANCIAL EDUCATION ALSO CONTINUES TO BE A PRIORITY. From preventing identity theft to buying your first car, we offered 10 different educational options in 2014 to our members, each averaging eight or more participants. We also continued to collaborate with area school districts to encourage financial literacy to high school students, as well as participated in the Bridges Career Academy through the Brainerd Lakes Chamber.

We find this organization to be continually in-motion, seeking ways to best serve our members and to also reach those who aren’t yet members but would benefit from the Credit Union Difference. Whether it’s something as simple as new signage at an MMFCU branch for increased visibility, to partnering with the Minnesota Credit Union Network and the Credit Union National Association to leverage our power to meet the credit and savings needs of consumers - to make a difference, not a profit.

Thank you for your continued loyalty, dedication and support during these times of accelerating change. The world we live in moves at such a quick pace, we can often be left dizzied if we fail to take the time to pause and look around. And that’s exactly what this annual meeting and report is designed to provide – a time of reflection and heartfelt gratitude.

You are critical in ensuring this organization stays in-motion; and we echo that responsibility to you, our members and owners. We will continue to do all we can to help you on your financial journey and ensure, “the action or process of moving or of changing place or position” is a positive one for every one of our 36,472 members.

President’s Message

– Chuck Albrecht, President/CEO

AMID THE MOUNTAINS OF MONTANA, A RIVER RUNS BETWEEN THE MAJESTIC PINES.

The river moves quickly. In places, the river encounters rocks and creates rapids, which can be tough to navigate. In other places, the sun glistens off calm waters. In both spots, the river is continually in motion.

Perhaps you already recognize the parallel in this scene. So much like the running waters – still and sparkling or rough and rocky – our lives are in constant motion. Our financial journey echoes that river.

As much as we’d prefer a financial scenario that emulates a serene scene of still waters and no impeding rocks; more times than not, we find ourselves forced to navigate less-than-perfect waters. However, we hope you take solace in knowing you are not alone on that river.

One of the many benefits that come with being a member of a credit union is that you are surrounded with opportunities to reach out for help along the way. We strive to provide our members with the best possible tools to meet the ever-changing needs along the river.

So, while we wish you calm waters along your journey, we recognize the chance for rapids. And we are prepared to get through them – together. After all, we are People Helping People. In good and in challenging times, we are in-motion side-by-side and ready to enjoy our adventure together.

The Journey is yours. And Ours.

MMFCU never settles for ‘okay.’

We want to not only meet your expectations,

but exceed them.

You are critical in ensuring this organization

stays in-motionWHAT A TERRIFIC YEAR 2014 PROVED ITSELF TO BE AT MID-MINNESOTA FEDERAL CREDIT UNION!

From internal changes to make your experiences even greater, to national accolades for marketing efforts – this community-driven-engine-that-could continues to chug, chug, chug its way up hills big and small.

And it seems our membership agrees.

In the spring of 2014, we contracted with an independent market researcher specializing in credit union membership experience. From the total population of 18,367 MMFCU member households, a random sampling of 2,000 mem-ber households was selected to receive a survey by mail. The survey netted a response of 35.4 percent. A companion online services survey garnered 181 additional member responses.

The intent of the survey was to identify and evaluate members’ overall perception of MMFCU; examine interest in mobile banking, business services, auto and home loans and financial planning; analyze member feedback segmented by household income and compare it to the latest U.S. Census data; evaluate responses by the MMFCU branch most visited by each individual member; and analyze information about the members’ primary financial institution choice and how that choice translates into service relationships – in other words, what can we do differently to keep our members satisfied with our performance.

Results communicated we are headed in the right direction by way of increased mobile banking opportunities, staff development, and convenient branch locations. Results of this survey also gauged customer satisfaction. Sixty-one percent of those surveyed are “Happy Members,” which means they rate the credit union “excellent,” will use the credit union again, and will recommend the credit union to others. This is in line with the results of a survey in 2012 and up from 2010.

We also take great pride in having been recognized nationally for our marketing efforts. Each year, the Credit Union National Association recognizes and

rewards creative excellence in the industry of credit union marketing and business development professionals. The CUNA Marketing and Business Development Council Diamond Awards are the credit union industry’s largest and most representative competition, attracting more than 1,200 entries every year. I am proud to share that our MMFCU marketing team received not one, but TWO Diamond Awards in 2014.

Marketing and communication with our membership is critical. That’s why we continue to ride the wave known as Social Media. From Facebook to Twitter and Pinterest to LinkedIn, we are reaching more members than ever before with posts, tweets, pins and links and demonstrating the connection between every-day life and the importance of financial education.

A great platform for promoting the Credit Union Difference has come by way of putting money where our mouth is. LoveMyCreditUnion.org is a priceless resource to save credit union members big bucks. This website is a must-visit, giving credit union members access to exclusive discounts and benefits on products and services they use every day.

Created in 2008 by CU Solutions Group, Love My Credit Union Rewards has helped over 3.5 million credit union members save more than $1 billion - just for being members – at over 3,500 credit unions and taking advantage of this easy-to-use program. If you haven’t already, I highly encourage you to take advantage of this money-saving resource.

I am honored to serve as your Chair of the Board of Directors and look forward to what the future holds for all of us. On behalf of the MMFCU Board of Directors and advisory groups, thank you for your continued loyalty to this organization. You should take pride as not only members, but also owners, that the successes – big and small – belong to all of us.

Chairwoman’s Report

– Theresa Goble, Chairwoman

A great platform for promoting the Credit Union Difference has come by way of putting money where our mouth is.

THE THEME FOR THIS YEAR’S ANNUAL REPORT CONJURES UP MANY IMAGES IN MY MIND.

As the days get longer and warmer, you can’t help but notice the growing number of individuals outside and in-motion. From walking to running or riding bicycle, the change in seasons encourages more people to transition from a state of hibernation to getting out and moving about.

Our lives are also in a constant state of motion. How often have you thought to yourself you had wished there were more hours in a day to get things done? We are always on the go – from one meeting to another or one child’s activity to another and back home to make dinner and prepare for the next day.

The word motion, is defined as; “The action or process of moving or of chang-ing place or position; movement.”

While that definition came as no surprise to me, I took particular notice of ‘changing place or position.’

What would happen if we weren’t in motion? Obviously, some of us discover this the hard way over the long winter months when we try to fit back into last summer’s clothing. But all kidding aside – isn’t motion a good thing?

Recently, Mid-Minnesota Federal Credit Union announced the near completion of a core enhancement process. While we had grown accustomed and comfortable with how things were operating, we realized we needed to make the enhancement in order to keep making progress in the right direction. When making this decision for our membership, no stone was left unturned. MMFCU never settles for ‘okay.’ We want to not only meet your expectations, but exceed them.

The year 2014 was a 12-month process of continual motion for credit union staff. We are proud of where we’ve been, but even more proud of where we’re going and how far we’ve come. This Annual Report provides an opportunity to look back and realize just how much movement has taken place in a rather short span of time.

AS AFOREMENTIONED, we started a core enhancement process this past year. In fact, exploration into such a process began in April 2011 when MMFCU began exploring options of how to improve our behind-the-scenes structure. In October 2013, a firm was chosen; and in March 2014, the process commenced.

When our core enhancement is complete, likely late summer 2015, MMFCU will quickly be able to roll out tailored products and have the flexibility to expand into new lines of business as our organization grows.

This upgrade, or system enhancement, is an important technological advancement for our credit union.

SPEAKING OF IN-MOTION, we fully recognize that the face of how our members bank has completely changed over time. With that in mind, in 2014, MMFCU made great advancements in its online banking system. With our new online banking option, members now have the flexibility and convenience of viewing account balances, paying bills, locating ATMs, transferring funds, and more from virtually anywhere and at any time! Individuals also have the ability to customize their online experience to fit their specific needs, including a personalized landing page, budgeting, expense tracking, financial tips and goal setting abilities.

This new, user-friendly system replaced PC Teller and has allowed MMFCU the ability to provide many more requested features and functions to our membership, including Mobile Banking from a Smartphone!

MMFCU also revamped our website to a Responsive Website; which really means it’s available from wherever you are – including a Smartphone, personal computer, or tablet. Regardless of your means of surfing, this website will automatically adjust to complement the device. In addition to the advancement in technology, this website also adds new features including Rates at a Glance, a Social Media feed and links to those various platforms, an Alerts section that we will update with important messages to our members, and much more.

CHANGES IN TECHNOLOGY have allowed us to provide members with easier-than-ever ways to apply for loans, including a Property Improvement Loan, the AskAuto application, and Loanliner, a new online loan application; as well as switch accounts from other financial institutions to MMFCU with, literally, the click of a button – ClickSwitch. It’s amazing how far technology has come in the last year in ways to meet the demands of consumers.

WITH CONTINUED CHANGE, ONE THING HAS REMAINED THE SAME; and that is MMFCU’s commitment to community. Last year, we increased our outreach efforts and sponsored several events and initiatives aimed at making a difference in the lives of our friends and neighbors. Through our Miracle Mondays program, our membership and staff were able to raise over $7,300 for Gillette Children’s Specialty Healthcare.

The Miracle Mondays campaign kicked off in early November and allowed MMFCU staff to wear jeans to work on Mondays with a $2 contribution toward the fund. Members of the Credit Union were also encouraged to donate at any MMFCU branch through November 24th. All money raised was matched by MMFCU, and then matched again by the CO-OP Financial Miracle Match. What’s more, every ‘like’ on MMFCU’s Facebook page regard-ing the Miracle Mondays campaign also earned a dollar. In the end, the total contribution to Gillette Children’s Specialty Healthcare equaled $7,303.48.

FINANCIAL EDUCATION ALSO CONTINUES TO BE A PRIORITY. From preventing identity theft to buying your first car, we offered 10 different educational options in 2014 to our members, each averaging eight or more participants. We also continued to collaborate with area school districts to encourage financial literacy to high school students, as well as participated in the Bridges Career Academy through the Brainerd Lakes Chamber.

We find this organization to be continually in-motion, seeking ways to best serve our members and to also reach those who aren’t yet members but would benefit from the Credit Union Difference. Whether it’s something as simple as new signage at an MMFCU branch for increased visibility, to partnering with the Minnesota Credit Union Network and the Credit Union National Association to leverage our power to meet the credit and savings needs of consumers - to make a difference, not a profit.

Thank you for your continued loyalty, dedication and support during these times of accelerating change. The world we live in moves at such a quick pace, we can often be left dizzied if we fail to take the time to pause and look around. And that’s exactly what this annual meeting and report is designed to provide – a time of reflection and heartfelt gratitude.

You are critical in ensuring this organization stays in-motion; and we echo that responsibility to you, our members and owners. We will continue to do all we can to help you on your financial journey and ensure, “the action or process of moving or of changing place or position” is a positive one for every one of our 36,472 members.

President’s Message

– Chuck Albrecht, President/CEO

AMID THE MOUNTAINS OF MONTANA, A RIVER RUNS BETWEEN THE MAJESTIC PINES.

The river moves quickly. In places, the river encounters rocks and creates rapids, which can be tough to navigate. In other places, the sun glistens off calm waters. In both spots, the river is continually in motion.

Perhaps you already recognize the parallel in this scene. So much like the running waters – still and sparkling or rough and rocky – our lives are in constant motion. Our financial journey echoes that river.

As much as we’d prefer a financial scenario that emulates a serene scene of still waters and no impeding rocks; more times than not, we find ourselves forced to navigate less-than-perfect waters. However, we hope you take solace in knowing you are not alone on that river.

One of the many benefits that come with being a member of a credit union is that you are surrounded with opportunities to reach out for help along the way. We strive to provide our members with the best possible tools to meet the ever-changing needs along the river.

So, while we wish you calm waters along your journey, we recognize the chance for rapids. And we are prepared to get through them – together. After all, we are People Helping People. In good and in challenging times, we are in-motion side-by-side and ready to enjoy our adventure together.

The Journey is yours. And Ours.

MMFCU never settles for ‘okay.’

We want to not only meet your expectations,

but exceed them.

You are critical in ensuring this organization

stays in-motionWHAT A TERRIFIC YEAR 2014 PROVED ITSELF TO BE AT MID-MINNESOTA FEDERAL CREDIT UNION!

From internal changes to make your experiences even greater, to national accolades for marketing efforts – this community-driven-engine-that-could continues to chug, chug, chug its way up hills big and small.

And it seems our membership agrees.

In the spring of 2014, we contracted with an independent market researcher specializing in credit union membership experience. From the total population of 18,367 MMFCU member households, a random sampling of 2,000 mem-ber households was selected to receive a survey by mail. The survey netted a response of 35.4 percent. A companion online services survey garnered 181 additional member responses.

The intent of the survey was to identify and evaluate members’ overall perception of MMFCU; examine interest in mobile banking, business services, auto and home loans and financial planning; analyze member feedback segmented by household income and compare it to the latest U.S. Census data; evaluate responses by the MMFCU branch most visited by each individual member; and analyze information about the members’ primary financial institution choice and how that choice translates into service relationships – in other words, what can we do differently to keep our members satisfied with our performance.

Results communicated we are headed in the right direction by way of increased mobile banking opportunities, staff development, and convenient branch locations. Results of this survey also gauged customer satisfaction. Sixty-one percent of those surveyed are “Happy Members,” which means they rate the credit union “excellent,” will use the credit union again, and will recommend the credit union to others. This is in line with the results of a survey in 2012 and up from 2010.

We also take great pride in having been recognized nationally for our marketing efforts. Each year, the Credit Union National Association recognizes and

rewards creative excellence in the industry of credit union marketing and business development professionals. The CUNA Marketing and Business Development Council Diamond Awards are the credit union industry’s largest and most representative competition, attracting more than 1,200 entries every year. I am proud to share that our MMFCU marketing team received not one, but TWO Diamond Awards in 2014.

Marketing and communication with our membership is critical. That’s why we continue to ride the wave known as Social Media. From Facebook to Twitter and Pinterest to LinkedIn, we are reaching more members than ever before with posts, tweets, pins and links and demonstrating the connection between every-day life and the importance of financial education.

A great platform for promoting the Credit Union Difference has come by way of putting money where our mouth is. LoveMyCreditUnion.org is a priceless resource to save credit union members big bucks. This website is a must-visit, giving credit union members access to exclusive discounts and benefits on products and services they use every day.

Created in 2008 by CU Solutions Group, Love My Credit Union Rewards has helped over 3.5 million credit union members save more than $1 billion - just for being members – at over 3,500 credit unions and taking advantage of this easy-to-use program. If you haven’t already, I highly encourage you to take advantage of this money-saving resource.

I am honored to serve as your Chair of the Board of Directors and look forward to what the future holds for all of us. On behalf of the MMFCU Board of Directors and advisory groups, thank you for your continued loyalty to this organization. You should take pride as not only members, but also owners, that the successes – big and small – belong to all of us.

Chairwoman’s Report

– Theresa Goble, Chairwoman

A great platform for promoting the Credit Union Difference has come by way of putting money where our mouth is.

THE THEME FOR THIS YEAR’S ANNUAL REPORT CONJURES UP MANY IMAGES IN MY MIND.

As the days get longer and warmer, you can’t help but notice the growing number of individuals outside and in-motion. From walking to running or riding bicycle, the change in seasons encourages more people to transition from a state of hibernation to getting out and moving about.

Our lives are also in a constant state of motion. How often have you thought to yourself you had wished there were more hours in a day to get things done? We are always on the go – from one meeting to another or one child’s activity to another and back home to make dinner and prepare for the next day.

The word motion, is defined as; “The action or process of moving or of chang-ing place or position; movement.”

While that definition came as no surprise to me, I took particular notice of ‘changing place or position.’

What would happen if we weren’t in motion? Obviously, some of us discover this the hard way over the long winter months when we try to fit back into last summer’s clothing. But all kidding aside – isn’t motion a good thing?

Recently, Mid-Minnesota Federal Credit Union announced the near completion of a core enhancement process. While we had grown accustomed and comfortable with how things were operating, we realized we needed to make the enhancement in order to keep making progress in the right direction. When making this decision for our membership, no stone was left unturned. MMFCU never settles for ‘okay.’ We want to not only meet your expectations, but exceed them.

The year 2014 was a 12-month process of continual motion for credit union staff. We are proud of where we’ve been, but even more proud of where we’re going and how far we’ve come. This Annual Report provides an opportunity to look back and realize just how much movement has taken place in a rather short span of time.

AS AFOREMENTIONED, we started a core enhancement process this past year. In fact, exploration into such a process began in April 2011 when MMFCU began exploring options of how to improve our behind-the-scenes structure. In October 2013, a firm was chosen; and in March 2014, the process commenced.

When our core enhancement is complete, likely late summer 2015, MMFCU will quickly be able to roll out tailored products and have the flexibility to expand into new lines of business as our organization grows.

This upgrade, or system enhancement, is an important technological advancement for our credit union.

SPEAKING OF IN-MOTION, we fully recognize that the face of how our members bank has completely changed over time. With that in mind, in 2014, MMFCU made great advancements in its online banking system. With our new online banking option, members now have the flexibility and convenience of viewing account balances, paying bills, locating ATMs, transferring funds, and more from virtually anywhere and at any time! Individuals also have the ability to customize their online experience to fit their specific needs, including a personalized landing page, budgeting, expense tracking, financial tips and goal setting abilities.

This new, user-friendly system replaced PC Teller and has allowed MMFCU the ability to provide many more requested features and functions to our membership, including Mobile Banking from a Smartphone!

MMFCU also revamped our website to a Responsive Website; which really means it’s available from wherever you are – including a Smartphone, personal computer, or tablet. Regardless of your means of surfing, this website will automatically adjust to complement the device. In addition to the advancement in technology, this website also adds new features including Rates at a Glance, a Social Media feed and links to those various platforms, an Alerts section that we will update with important messages to our members, and much more.

CHANGES IN TECHNOLOGY have allowed us to provide members with easier-than-ever ways to apply for loans, including a Property Improvement Loan, the AskAuto application, and Loanliner, a new online loan application; as well as switch accounts from other financial institutions to MMFCU with, literally, the click of a button – ClickSwitch. It’s amazing how far technology has come in the last year in ways to meet the demands of consumers.

WITH CONTINUED CHANGE, ONE THING HAS REMAINED THE SAME; and that is MMFCU’s commitment to community. Last year, we increased our outreach efforts and sponsored several events and initiatives aimed at making a difference in the lives of our friends and neighbors. Through our Miracle Mondays program, our membership and staff were able to raise over $7,300 for Gillette Children’s Specialty Healthcare.

The Miracle Mondays campaign kicked off in early November and allowed MMFCU staff to wear jeans to work on Mondays with a $2 contribution toward the fund. Members of the Credit Union were also encouraged to donate at any MMFCU branch through November 24th. All money raised was matched by MMFCU, and then matched again by the CO-OP Financial Miracle Match. What’s more, every ‘like’ on MMFCU’s Facebook page regard-ing the Miracle Mondays campaign also earned a dollar. In the end, the total contribution to Gillette Children’s Specialty Healthcare equaled $7,303.48.

FINANCIAL EDUCATION ALSO CONTINUES TO BE A PRIORITY. From preventing identity theft to buying your first car, we offered 10 different educational options in 2014 to our members, each averaging eight or more participants. We also continued to collaborate with area school districts to encourage financial literacy to high school students, as well as participated in the Bridges Career Academy through the Brainerd Lakes Chamber.

We find this organization to be continually in-motion, seeking ways to best serve our members and to also reach those who aren’t yet members but would benefit from the Credit Union Difference. Whether it’s something as simple as new signage at an MMFCU branch for increased visibility, to partnering with the Minnesota Credit Union Network and the Credit Union National Association to leverage our power to meet the credit and savings needs of consumers - to make a difference, not a profit.

Thank you for your continued loyalty, dedication and support during these times of accelerating change. The world we live in moves at such a quick pace, we can often be left dizzied if we fail to take the time to pause and look around. And that’s exactly what this annual meeting and report is designed to provide – a time of reflection and heartfelt gratitude.

You are critical in ensuring this organization stays in-motion; and we echo that responsibility to you, our members and owners. We will continue to do all we can to help you on your financial journey and ensure, “the action or process of moving or of changing place or position” is a positive one for every one of our 36,472 members.

President’s Message

– Chuck Albrecht, President/CEO

AMID THE MOUNTAINS OF MONTANA, A RIVER RUNS BETWEEN THE MAJESTIC PINES.

The river moves quickly. In places, the river encounters rocks and creates rapids, which can be tough to navigate. In other places, the sun glistens off calm waters. In both spots, the river is continually in motion.

Perhaps you already recognize the parallel in this scene. So much like the running waters – still and sparkling or rough and rocky – our lives are in constant motion. Our financial journey echoes that river.

As much as we’d prefer a financial scenario that emulates a serene scene of still waters and no impeding rocks; more times than not, we find ourselves forced to navigate less-than-perfect waters. However, we hope you take solace in knowing you are not alone on that river.

One of the many benefits that come with being a member of a credit union is that you are surrounded with opportunities to reach out for help along the way. We strive to provide our members with the best possible tools to meet the ever-changing needs along the river.

So, while we wish you calm waters along your journey, we recognize the chance for rapids. And we are prepared to get through them – together. After all, we are People Helping People. In good and in challenging times, we are in-motion side-by-side and ready to enjoy our adventure together.

The Journey is yours. And Ours.

MMFCU never settles for ‘okay.’

We want to not only meet your expectations,

but exceed them.

You are critical in ensuring this organization

stays in-motionWHAT A TERRIFIC YEAR 2014 PROVED ITSELF TO BE AT MID-MINNESOTA FEDERAL CREDIT UNION!

From internal changes to make your experiences even greater, to national accolades for marketing efforts – this community-driven-engine-that-could continues to chug, chug, chug its way up hills big and small.

And it seems our membership agrees.

In the spring of 2014, we contracted with an independent market researcher specializing in credit union membership experience. From the total population of 18,367 MMFCU member households, a random sampling of 2,000 mem-ber households was selected to receive a survey by mail. The survey netted a response of 35.4 percent. A companion online services survey garnered 181 additional member responses.

The intent of the survey was to identify and evaluate members’ overall perception of MMFCU; examine interest in mobile banking, business services, auto and home loans and financial planning; analyze member feedback segmented by household income and compare it to the latest U.S. Census data; evaluate responses by the MMFCU branch most visited by each individual member; and analyze information about the members’ primary financial institution choice and how that choice translates into service relationships – in other words, what can we do differently to keep our members satisfied with our performance.

Results communicated we are headed in the right direction by way of increased mobile banking opportunities, staff development, and convenient branch locations. Results of this survey also gauged customer satisfaction. Sixty-one percent of those surveyed are “Happy Members,” which means they rate the credit union “excellent,” will use the credit union again, and will recommend the credit union to others. This is in line with the results of a survey in 2012 and up from 2010.

We also take great pride in having been recognized nationally for our marketing efforts. Each year, the Credit Union National Association recognizes and

rewards creative excellence in the industry of credit union marketing and business development professionals. The CUNA Marketing and Business Development Council Diamond Awards are the credit union industry’s largest and most representative competition, attracting more than 1,200 entries every year. I am proud to share that our MMFCU marketing team received not one, but TWO Diamond Awards in 2014.

Marketing and communication with our membership is critical. That’s why we continue to ride the wave known as Social Media. From Facebook to Twitter and Pinterest to LinkedIn, we are reaching more members than ever before with posts, tweets, pins and links and demonstrating the connection between every-day life and the importance of financial education.

A great platform for promoting the Credit Union Difference has come by way of putting money where our mouth is. LoveMyCreditUnion.org is a priceless resource to save credit union members big bucks. This website is a must-visit, giving credit union members access to exclusive discounts and benefits on products and services they use every day.

Created in 2008 by CU Solutions Group, Love My Credit Union Rewards has helped over 3.5 million credit union members save more than $1 billion - just for being members – at over 3,500 credit unions and taking advantage of this easy-to-use program. If you haven’t already, I highly encourage you to take advantage of this money-saving resource.

I am honored to serve as your Chair of the Board of Directors and look forward to what the future holds for all of us. On behalf of the MMFCU Board of Directors and advisory groups, thank you for your continued loyalty to this organization. You should take pride as not only members, but also owners, that the successes – big and small – belong to all of us.

Chairwoman’s Report

– Theresa Goble, Chairwoman

A great platform for promoting the Credit Union Difference has come by way of putting money where our mouth is.

THE THEME FOR THIS YEAR’S ANNUAL REPORT CONJURES UP MANY IMAGES IN MY MIND.

As the days get longer and warmer, you can’t help but notice the growing number of individuals outside and in-motion. From walking to running or riding bicycle, the change in seasons encourages more people to transition from a state of hibernation to getting out and moving about.

Our lives are also in a constant state of motion. How often have you thought to yourself you had wished there were more hours in a day to get things done? We are always on the go – from one meeting to another or one child’s activity to another and back home to make dinner and prepare for the next day.

The word motion, is defined as; “The action or process of moving or of chang-ing place or position; movement.”

While that definition came as no surprise to me, I took particular notice of ‘changing place or position.’

What would happen if we weren’t in motion? Obviously, some of us discover this the hard way over the long winter months when we try to fit back into last summer’s clothing. But all kidding aside – isn’t motion a good thing?

Recently, Mid-Minnesota Federal Credit Union announced the near completion of a core enhancement process. While we had grown accustomed and comfortable with how things were operating, we realized we needed to make the enhancement in order to keep making progress in the right direction. When making this decision for our membership, no stone was left unturned. MMFCU never settles for ‘okay.’ We want to not only meet your expectations, but exceed them.

The year 2014 was a 12-month process of continual motion for credit union staff. We are proud of where we’ve been, but even more proud of where we’re going and how far we’ve come. This Annual Report provides an opportunity to look back and realize just how much movement has taken place in a rather short span of time.

AS AFOREMENTIONED, we started a core enhancement process this past year. In fact, exploration into such a process began in April 2011 when MMFCU began exploring options of how to improve our behind-the-scenes structure. In October 2013, a firm was chosen; and in March 2014, the process commenced.

When our core enhancement is complete, likely late summer 2015, MMFCU will quickly be able to roll out tailored products and have the flexibility to expand into new lines of business as our organization grows.

This upgrade, or system enhancement, is an important technological advancement for our credit union.

SPEAKING OF IN-MOTION, we fully recognize that the face of how our members bank has completely changed over time. With that in mind, in 2014, MMFCU made great advancements in its online banking system. With our new online banking option, members now have the flexibility and convenience of viewing account balances, paying bills, locating ATMs, transferring funds, and more from virtually anywhere and at any time! Individuals also have the ability to customize their online experience to fit their specific needs, including a personalized landing page, budgeting, expense tracking, financial tips and goal setting abilities.

This new, user-friendly system replaced PC Teller and has allowed MMFCU the ability to provide many more requested features and functions to our membership, including Mobile Banking from a Smartphone!

MMFCU also revamped our website to a Responsive Website; which really means it’s available from wherever you are – including a Smartphone, personal computer, or tablet. Regardless of your means of surfing, this website will automatically adjust to complement the device. In addition to the advancement in technology, this website also adds new features including Rates at a Glance, a Social Media feed and links to those various platforms, an Alerts section that we will update with important messages to our members, and much more.

CHANGES IN TECHNOLOGY have allowed us to provide members with easier-than-ever ways to apply for loans, including a Property Improvement Loan, the AskAuto application, and Loanliner, a new online loan application; as well as switch accounts from other financial institutions to MMFCU with, literally, the click of a button – ClickSwitch. It’s amazing how far technology has come in the last year in ways to meet the demands of consumers.

WITH CONTINUED CHANGE, ONE THING HAS REMAINED THE SAME; and that is MMFCU’s commitment to community. Last year, we increased our outreach efforts and sponsored several events and initiatives aimed at making a difference in the lives of our friends and neighbors. Through our Miracle Mondays program, our membership and staff were able to raise over $7,300 for Gillette Children’s Specialty Healthcare.

The Miracle Mondays campaign kicked off in early November and allowed MMFCU staff to wear jeans to work on Mondays with a $2 contribution toward the fund. Members of the Credit Union were also encouraged to donate at any MMFCU branch through November 24th. All money raised was matched by MMFCU, and then matched again by the CO-OP Financial Miracle Match. What’s more, every ‘like’ on MMFCU’s Facebook page regard-ing the Miracle Mondays campaign also earned a dollar. In the end, the total contribution to Gillette Children’s Specialty Healthcare equaled $7,303.48.

FINANCIAL EDUCATION ALSO CONTINUES TO BE A PRIORITY. From preventing identity theft to buying your first car, we offered 10 different educational options in 2014 to our members, each averaging eight or more participants. We also continued to collaborate with area school districts to encourage financial literacy to high school students, as well as participated in the Bridges Career Academy through the Brainerd Lakes Chamber.

We find this organization to be continually in-motion, seeking ways to best serve our members and to also reach those who aren’t yet members but would benefit from the Credit Union Difference. Whether it’s something as simple as new signage at an MMFCU branch for increased visibility, to partnering with the Minnesota Credit Union Network and the Credit Union National Association to leverage our power to meet the credit and savings needs of consumers - to make a difference, not a profit.

Thank you for your continued loyalty, dedication and support during these times of accelerating change. The world we live in moves at such a quick pace, we can often be left dizzied if we fail to take the time to pause and look around. And that’s exactly what this annual meeting and report is designed to provide – a time of reflection and heartfelt gratitude.

You are critical in ensuring this organization stays in-motion; and we echo that responsibility to you, our members and owners. We will continue to do all we can to help you on your financial journey and ensure, “the action or process of moving or of changing place or position” is a positive one for every one of our 36,472 members.

President’s Message

– Chuck Albrecht, President/CEO

AMID THE MOUNTAINS OF MONTANA, A RIVER RUNS BETWEEN THE MAJESTIC PINES.

The river moves quickly. In places, the river encounters rocks and creates rapids, which can be tough to navigate. In other places, the sun glistens off calm waters. In both spots, the river is continually in motion.

Perhaps you already recognize the parallel in this scene. So much like the running waters – still and sparkling or rough and rocky – our lives are in constant motion. Our financial journey echoes that river.

As much as we’d prefer a financial scenario that emulates a serene scene of still waters and no impeding rocks; more times than not, we find ourselves forced to navigate less-than-perfect waters. However, we hope you take solace in knowing you are not alone on that river.

One of the many benefits that come with being a member of a credit union is that you are surrounded with opportunities to reach out for help along the way. We strive to provide our members with the best possible tools to meet the ever-changing needs along the river.

So, while we wish you calm waters along your journey, we recognize the chance for rapids. And we are prepared to get through them – together. After all, we are People Helping People. In good and in challenging times, we are in-motion side-by-side and ready to enjoy our adventure together.

The Journey is yours. And Ours.

MMFCU never settles for ‘okay.’

We want to not only meet your expectations,

but exceed them.

You are critical in ensuring this organization

stays in-motionWHAT A TERRIFIC YEAR 2014 PROVED ITSELF TO BE AT MID-MINNESOTA FEDERAL CREDIT UNION!

From internal changes to make your experiences even greater, to national accolades for marketing efforts – this community-driven-engine-that-could continues to chug, chug, chug its way up hills big and small.

And it seems our membership agrees.

In the spring of 2014, we contracted with an independent market researcher specializing in credit union membership experience. From the total population of 18,367 MMFCU member households, a random sampling of 2,000 mem-ber households was selected to receive a survey by mail. The survey netted a response of 35.4 percent. A companion online services survey garnered 181 additional member responses.

The intent of the survey was to identify and evaluate members’ overall perception of MMFCU; examine interest in mobile banking, business services, auto and home loans and financial planning; analyze member feedback segmented by household income and compare it to the latest U.S. Census data; evaluate responses by the MMFCU branch most visited by each individual member; and analyze information about the members’ primary financial institution choice and how that choice translates into service relationships – in other words, what can we do differently to keep our members satisfied with our performance.

Results communicated we are headed in the right direction by way of increased mobile banking opportunities, staff development, and convenient branch locations. Results of this survey also gauged customer satisfaction. Sixty-one percent of those surveyed are “Happy Members,” which means they rate the credit union “excellent,” will use the credit union again, and will recommend the credit union to others. This is in line with the results of a survey in 2012 and up from 2010.

We also take great pride in having been recognized nationally for our marketing efforts. Each year, the Credit Union National Association recognizes and

rewards creative excellence in the industry of credit union marketing and business development professionals. The CUNA Marketing and Business Development Council Diamond Awards are the credit union industry’s largest and most representative competition, attracting more than 1,200 entries every year. I am proud to share that our MMFCU marketing team received not one, but TWO Diamond Awards in 2014.

Marketing and communication with our membership is critical. That’s why we continue to ride the wave known as Social Media. From Facebook to Twitter and Pinterest to LinkedIn, we are reaching more members than ever before with posts, tweets, pins and links and demonstrating the connection between every-day life and the importance of financial education.

A great platform for promoting the Credit Union Difference has come by way of putting money where our mouth is. LoveMyCreditUnion.org is a priceless resource to save credit union members big bucks. This website is a must-visit, giving credit union members access to exclusive discounts and benefits on products and services they use every day.

Created in 2008 by CU Solutions Group, Love My Credit Union Rewards has helped over 3.5 million credit union members save more than $1 billion - just for being members – at over 3,500 credit unions and taking advantage of this easy-to-use program. If you haven’t already, I highly encourage you to take advantage of this money-saving resource.

I am honored to serve as your Chair of the Board of Directors and look forward to what the future holds for all of us. On behalf of the MMFCU Board of Directors and advisory groups, thank you for your continued loyalty to this organization. You should take pride as not only members, but also owners, that the successes – big and small – belong to all of us.

Chairwoman’s Report

– Theresa Goble, Chairwoman

A great platform for promoting the Credit Union Difference has come by way of putting money where our mouth is.

Field of MembershipALEXANDRIA 405 50th Avenue West(320) 762-2686 Fax (320) 763-3472

BAXTER 13283 Isle Drive(218) 829-0371 Fax (218) 822-2455

BRAINERD 200 South 6th Street(218) 829-0371 Fax (218) 829-4947

CROSBY 117 West Main Street (218) 546-5428 Fax (218) 546-6447

DETROIT LAKES (Summer 2015) 1135 Washington Avenue(218) 844-5540

LITTLE FALLS 307 1st Street SE(320) 632-6679 Fax (320) 632-3424

PEQUOT LAKES 30483 State Hwy 371(218) 568-8450 Fax (218) 568-8795

STAPLES 1220 North 4th Street(218) 894-2463 Fax (218) 894-2544

TWIN VALLEY 122 Main Avenue West(218) 584-5499 Fax (218) 584-5647

BAXTER DRIVE-THROUGH FACILITY8500 Fairview RoadSouth of the Westgate Mall, Hwy 210

MMFCU Locations

Jason Anakkala Secretary

Mark Korwin-Kuczynski

Executive TeamCharles (Chuck) Albrecht, CCEPresident/CEO

Mary Pedersen, CCUEChief Operations Officer

Doug WolfChief Financial Officer

DirectorsCheryl McKinneyDirector of Loss Prevention

Chris TangenVP of Technology

Dusti BorgDirector of Support Services

Jill CarlsonDirector of Training & Community Relations

Jon TomlinsonDirector of Mortgage Services

Jonathan LeMieurDirector of Consumer Lending

Karen MunsterteigerDirector of Accounting

Marnie Perfetti Galston, CCUEDirector of Marketing &Communications

Michelle BoggsDirector of Human Resources

Missy Borg, CCUEDirector of Branch Operations

Troy CasperDirector of Business Services

MMFCU Branch ManagersAmy SjobladPequot Lakes Branch Manager

Danielle AddisonBrainerd Branch Manager

Jeanne LeeLittle Falls Branch Manager

Jill DecentCrosby Branch Manager

Kimberly KortuemAlexandria Branch Manager

Nate OlsonRegional Manager

Terri KobliskaStaples Branch Manager

Tiffany HirscheyBaxter Branch Manager

Val RiepeTwin Valley Branch Manager

Board of DirectorsThe Board of Directors of Mid-Minnesota Federal Credit Union consists of nine individuals from varying communities throughout central Minnesota.

Executive Team, Directors & Management

Geoff Gorvin Al KollingTodd Froemming

Community Advisory BoardCredit unions are community organizations, formed and owned by our members. Keeping with this tradition, Mid-Minnesota has formed Community Advisory Councils. These council members serve as ambassadors for MMFCU – sharing information about our services while gathering vital input.

AlexandriaBill FranzenMike PorwollTamera LeeGlenda KvitekRandy Jansen

Brainerd/ BaxterKaren BolzMel DahlbergPat KruegerRod Carlson

CrosbyCalvin LutzkeBarry NelsonRoland AndersonSheldon W. Sanborn

Little FallsLinda BurggraffJan ErwinCathy HartleAaron Olson

Pequot LakesKathy Bittner LeeLeroy DudgeonJulie GowenDeb SommerLarry OaksCindy Hidde

StaplesDave JessopVern DrakeTerri DuffTom Neznik

Supervisory CommitteeThe primary function of your Supervisory Committee is to regularly audit all facets of the credit union, including financial management, administration, and operational practices. These volunteer members play an important role in our direction, ensuring the safety and security of your credit union funds.

Wayne (Bill) Bailey ChairmanCindy Nelson MemberAngella Roby Member

Geoff Gorvin MemberMike Woodard Member

Balance SheetsFor the years ended 2012, 2013, 2014

Income Statements

2012 Loan Mix(percentages)

Automobile 40%First Mortgage 22%Home Equity 12%Business Purpose 12%Recreational 7%VISA 5%Other 2%

0.0

0.2

0.4

0.6

0.8

1.0

Total Loans(in millions)

Total Assets(in millions)

10 11 12 10 11 12

$192 $187 $181 $222 $222$245

Total Loans(in millions)

Total Assets(in millions)

12 13 14 12 13 14

$185$187

$207$245 $251

$260

Loan Mix(percentages)

Automobile 44%First Mortgage 20%Business Purpose 12%Second Mortgage 8%Recreational 7%Other 5%Visa 4%

0.0

0.2

0.4

0.6

0.8

1.0

Total Loans(in millions)

Total Assets(in millions)

10 11 12 10 11 12

$192 $187 $181 $222 $222$245

Total Loans(in millions)

Total Assets(in millions)

10 11 12 10 11 12

$192 $187 $181 $222 $222$245

2014

2012 2013 2014 Assets Net Loans Outstanding $181,226,242 $184,535,775 $207,000,058 Cash & Cash Equivalents 43,884,220 32,851,855 10,071,210 Shares in Other Credit Unions - 7,480,000 – Investments - 5,458,000 21,338,446 Land & Buildings 7,426,500 7,197,470 7,060,360 Furniture & Equipment 741,086 1,288,500 1,947,817 Other Assets 11,720,879 12,223,265 12,886,143 Total Assets $ 244,998,927 $251,034,865 $260,304,034

Liabilities Accounts Payable/Other Liabilities $ 4,974,803 $ 4,208,423 $ 3,715,655 Dividends Payable 12,637 11,774 0 Borrowed Funds 0 0 0 Total Liabilities $ 4,987,440 $ 4,220,197 $ 3,715,655

Members’ Equity Shares $ 214,498,266 $218,706,423 $226,922,779 Regular Reserves 3,288,625 3,288,625 3,288,625 Undivided Earnings 22,224,596 24,819,620 26,376,975

Total Equity $240,011,487 $246,814,668 $256,588,379 Total Liabilities & Equity $244,998,927 $251,034,865 $260,304,034

2012 2013 2014 Interest Interest on Loans $ 11,050,306 $ 9,714,796 $ 9,038,752 Interest on Investments 69,540 112,675 214,490 Other Income 5,429,077 5,238,362 5,555,932

Total Income $ 16,548,923 $ 15,065,833 $ 14,809,174

Expenses Interest & Dividends to Members $ 727,036 $ 539,950 $ 429,581 Compensation 6,288,205 6,624,642 7,177,001 Office Expenses 3,032,434 2,993,519 3,124,526 Other Expenses 3,049,743 2,312,700 2,480,336

Total Expenses $ 13,097,418 $ 12,470,811 $ 13,211,444 Net Income $ 3,451,505 $ 2,595,023 $ 1,597,730

Mid-Minnesota Federal Credit Union serves all of Becker, Cass, Crow Wing, Douglas, Morrison, Norman, Todd and Wadena counties as well as Blowers and Paddock townships in Otter Tail County and various townships in Aitkin County.

If you live, work, worship, or attend school in any of the geographic regions listed above, or are a relative of someone who lives, works, worships, or attends school in these areas, you are eligible for membership.

You can become a member if you meet any of the above guidelines. A simple $5.00 deposit will make you a member/owner of MMFCU – allowing you to apply for any of our hundreds of free and low-cost services.

For more information about becoming a member and all of the products and services MMFCU offers, please visit our website or call your local branch office.

mmfcu.org

Federally insured by NCUA. Equal Housing Lender.

2014 ANNUAL REPORT

Federally insured by NCUA.

Theresa Goble Chairwoman

Rhonda SmithFirst Vice Chair

Jeff Wig Second Vice Chair

Bunny Johnson

Crow Wing

Cass

AitkinWadena

MorrisonToddDouglas

Norman

Becker

Otter Tail

Field of MembershipALEXANDRIA 405 50th Avenue West(320) 762-2686 Fax (320) 763-3472

BAXTER 13283 Isle Drive(218) 829-0371 Fax (218) 822-2455

BRAINERD 200 South 6th Street(218) 829-0371 Fax (218) 829-4947

CROSBY 117 West Main Street (218) 546-5428 Fax (218) 546-6447

DETROIT LAKES (Summer 2015) 1135 Washington Avenue(218) 844-5540

LITTLE FALLS 307 1st Street SE(320) 632-6679 Fax (320) 632-3424

PEQUOT LAKES 30483 State Hwy 371(218) 568-8450 Fax (218) 568-8795

STAPLES 1220 North 4th Street(218) 894-2463 Fax (218) 894-2544

TWIN VALLEY 122 Main Avenue West(218) 584-5499 Fax (218) 584-5647

BAXTER DRIVE-THROUGH FACILITY8500 Fairview RoadSouth of the Westgate Mall, Hwy 210

MMFCU Locations

Jason Anakkala Secretary

Mark Korwin-Kuczynski

Executive TeamCharles (Chuck) Albrecht, CCEPresident/CEO

Mary Pedersen, CCUEChief Operations Officer

Doug WolfChief Financial Officer

DirectorsCheryl McKinneyDirector of Loss Prevention

Chris TangenVP of Technology

Dusti BorgDirector of Support Services

Jill CarlsonDirector of Training & Community Relations

Jon TomlinsonDirector of Mortgage Services

Jonathan LeMieurDirector of Consumer Lending

Karen MunsterteigerDirector of Accounting

Marnie Perfetti Galston, CCUEDirector of Marketing &Communications

Michelle BoggsDirector of Human Resources

Missy Borg, CCUEDirector of Branch Operations

Troy CasperDirector of Business Services

MMFCU Branch ManagersAmy SjobladPequot Lakes Branch Manager

Danielle AddisonBrainerd Branch Manager

Jeanne LeeLittle Falls Branch Manager

Jill DecentCrosby Branch Manager

Kimberly KortuemAlexandria Branch Manager

Nate OlsonRegional Manager

Terri KobliskaStaples Branch Manager

Tiffany HirscheyBaxter Branch Manager

Val RiepeTwin Valley Branch Manager

Board of DirectorsThe Board of Directors of Mid-Minnesota Federal Credit Union consists of nine individuals from varying communities throughout central Minnesota.

Executive Team, Directors & Management

Geoff Gorvin Al KollingTodd Froemming

Community Advisory BoardCredit unions are community organizations, formed and owned by our members. Keeping with this tradition, Mid-Minnesota has formed Community Advisory Councils. These council members serve as ambassadors for MMFCU – sharing information about our services while gathering vital input.

AlexandriaBill FranzenMike PorwollTamera LeeGlenda KvitekRandy Jansen

Brainerd/ BaxterKaren BolzMel DahlbergPat KruegerRod Carlson

CrosbyCalvin LutzkeBarry NelsonRoland AndersonSheldon W. Sanborn

Little FallsLinda BurggraffJan ErwinCathy HartleAaron Olson

Pequot LakesKathy Bittner LeeLeroy DudgeonJulie GowenDeb SommerLarry OaksCindy Hidde

StaplesDave JessopVern DrakeTerri DuffTom Neznik

Supervisory CommitteeThe primary function of your Supervisory Committee is to regularly audit all facets of the credit union, including financial management, administration, and operational practices. These volunteer members play an important role in our direction, ensuring the safety and security of your credit union funds.

Wayne (Bill) Bailey ChairmanCindy Nelson MemberAngella Roby Member

Geoff Gorvin MemberMike Woodard Member

Balance SheetsFor the years ended 2012, 2013, 2014

Income Statements

2012 Loan Mix(percentages)

Automobile 40%First Mortgage 22%Home Equity 12%Business Purpose 12%Recreational 7%VISA 5%Other 2%

0.0

0.2

0.4

0.6

0.8

1.0

Total Loans(in millions)

Total Assets(in millions)

10 11 12 10 11 12

$192 $187 $181 $222 $222$245

Total Loans(in millions)

Total Assets(in millions)

12 13 14 12 13 14

$185$187

$207$245 $251

$260

Loan Mix(percentages)

Automobile 44%First Mortgage 20%Business Purpose 12%Second Mortgage 8%Recreational 7%Other 5%Visa 4%

0.0

0.2

0.4

0.6

0.8

1.0

Total Loans(in millions)

Total Assets(in millions)

10 11 12 10 11 12

$192 $187 $181 $222 $222$245

Total Loans(in millions)

Total Assets(in millions)

10 11 12 10 11 12

$192 $187 $181 $222 $222$245

2014

2012 2013 2014 Assets Net Loans Outstanding $181,226,242 $184,535,775 $207,000,058 Cash & Cash Equivalents 43,884,220 32,851,855 10,071,210 Shares in Other Credit Unions - 7,480,000 – Investments - 5,458,000 21,338,446 Land & Buildings 7,426,500 7,197,470 7,060,360 Furniture & Equipment 741,086 1,288,500 1,947,817 Other Assets 11,720,879 12,223,265 12,886,143 Total Assets $ 244,998,927 $251,034,865 $260,304,034

Liabilities Accounts Payable/Other Liabilities $ 4,974,803 $ 4,208,423 $ 3,715,655 Dividends Payable 12,637 11,774 0 Borrowed Funds 0 0 0 Total Liabilities $ 4,987,440 $ 4,220,197 $ 3,715,655

Members’ Equity Shares $ 214,498,266 $218,706,423 $226,922,779 Regular Reserves 3,288,625 3,288,625 3,288,625 Undivided Earnings 22,224,596 24,819,620 26,376,975

Total Equity $240,011,487 $246,814,668 $256,588,379 Total Liabilities & Equity $244,998,927 $251,034,865 $260,304,034

2012 2013 2014 Interest Interest on Loans $ 11,050,306 $ 9,714,796 $ 9,038,752 Interest on Investments 69,540 112,675 214,490 Other Income 5,429,077 5,238,362 5,555,932

Total Income $ 16,548,923 $ 15,065,833 $ 14,809,174

Expenses Interest & Dividends to Members $ 727,036 $ 539,950 $ 429,581 Compensation 6,288,205 6,624,642 7,177,001 Office Expenses 3,032,434 2,993,519 3,124,526 Other Expenses 3,049,743 2,312,700 2,480,336

Total Expenses $ 13,097,418 $ 12,470,811 $ 13,211,444 Net Income $ 3,451,505 $ 2,595,023 $ 1,597,730

Mid-Minnesota Federal Credit Union serves all of Becker, Cass, Crow Wing, Douglas, Morrison, Norman, Todd and Wadena counties as well as Blowers and Paddock townships in Otter Tail County and various townships in Aitkin County.

If you live, work, worship, or attend school in any of the geographic regions listed above, or are a relative of someone who lives, works, worships, or attends school in these areas, you are eligible for membership.

You can become a member if you meet any of the above guidelines. A simple $5.00 deposit will make you a member/owner of MMFCU – allowing you to apply for any of our hundreds of free and low-cost services.

For more information about becoming a member and all of the products and services MMFCU offers, please visit our website or call your local branch office.

mmfcu.org

Federally insured by NCUA. Equal Housing Lender.

2014 ANNUAL REPORT

Federally insured by NCUA.

Theresa Goble Chairwoman

Rhonda SmithFirst Vice Chair

Jeff Wig Second Vice Chair

Bunny Johnson

Crow Wing

Cass

AitkinWadena

MorrisonToddDouglas

Norman

Becker

Otter Tail

Field of MembershipALEXANDRIA 405 50th Avenue West(320) 762-2686 Fax (320) 763-3472

BAXTER 13283 Isle Drive(218) 829-0371 Fax (218) 822-2455

BRAINERD 200 South 6th Street(218) 829-0371 Fax (218) 829-4947

CROSBY 117 West Main Street (218) 546-5428 Fax (218) 546-6447

DETROIT LAKES (Summer 2015) 1135 Washington Avenue(218) 844-5540

LITTLE FALLS 307 1st Street SE(320) 632-6679 Fax (320) 632-3424

PEQUOT LAKES 30483 State Hwy 371(218) 568-8450 Fax (218) 568-8795

STAPLES 1220 North 4th Street(218) 894-2463 Fax (218) 894-2544

TWIN VALLEY 122 Main Avenue West(218) 584-5499 Fax (218) 584-5647

BAXTER DRIVE-THROUGH FACILITY8500 Fairview RoadSouth of the Westgate Mall, Hwy 210

MMFCU Locations

Jason Anakkala Secretary

Mark Korwin-Kuczynski

Executive TeamCharles (Chuck) Albrecht, CCEPresident/CEO

Mary Pedersen, CCUEChief Operations Officer

Doug WolfChief Financial Officer

DirectorsCheryl McKinneyDirector of Loss Prevention

Chris TangenVP of Technology

Dusti BorgDirector of Support Services

Jill CarlsonDirector of Training & Community Relations

Jon TomlinsonDirector of Mortgage Services

Jonathan LeMieurDirector of Consumer Lending

Karen MunsterteigerDirector of Accounting

Marnie Perfetti Galston, CCUEDirector of Marketing &Communications

Michelle BoggsDirector of Human Resources

Missy Borg, CCUEDirector of Branch Operations

Troy CasperDirector of Business Services

MMFCU Branch ManagersAmy SjobladPequot Lakes Branch Manager

Danielle AddisonBrainerd Branch Manager

Jeanne LeeLittle Falls Branch Manager

Jill DecentCrosby Branch Manager

Kimberly KortuemAlexandria Branch Manager

Nate OlsonRegional Manager

Terri KobliskaStaples Branch Manager

Tiffany HirscheyBaxter Branch Manager

Val RiepeTwin Valley Branch Manager

Board of DirectorsThe Board of Directors of Mid-Minnesota Federal Credit Union consists of nine individuals from varying communities throughout central Minnesota.

Executive Team, Directors & Management

Geoff Gorvin Al KollingTodd Froemming

Community Advisory BoardCredit unions are community organizations, formed and owned by our members. Keeping with this tradition, Mid-Minnesota has formed Community Advisory Councils. These council members serve as ambassadors for MMFCU – sharing information about our services while gathering vital input.

AlexandriaBill FranzenMike PorwollTamera LeeGlenda KvitekRandy Jansen

Brainerd/ BaxterKaren BolzMel DahlbergPat KruegerRod Carlson

CrosbyCalvin LutzkeBarry NelsonRoland AndersonSheldon W. Sanborn

Little FallsLinda BurggraffJan ErwinCathy HartleAaron Olson

Pequot LakesKathy Bittner LeeLeroy DudgeonJulie GowenDeb SommerLarry OaksCindy Hidde

StaplesDave JessopVern DrakeTerri DuffTom Neznik

Supervisory CommitteeThe primary function of your Supervisory Committee is to regularly audit all facets of the credit union, including financial management, administration, and operational practices. These volunteer members play an important role in our direction, ensuring the safety and security of your credit union funds.

Wayne (Bill) Bailey ChairmanCindy Nelson MemberAngella Roby Member

Geoff Gorvin MemberMike Woodard Member

Balance SheetsFor the years ended 2012, 2013, 2014

Income Statements

2012 Loan Mix(percentages)

Automobile 40%First Mortgage 22%Home Equity 12%Business Purpose 12%Recreational 7%VISA 5%Other 2%

0.0

0.2

0.4

0.6

0.8

1.0

Total Loans(in millions)

Total Assets(in millions)

10 11 12 10 11 12

$192 $187 $181 $222 $222$245

Total Loans(in millions)

Total Assets(in millions)

12 13 14 12 13 14

$185$187

$207$245 $251

$260

Loan Mix(percentages)

Automobile 44%First Mortgage 20%Business Purpose 12%Second Mortgage 8%Recreational 7%Other 5%Visa 4%

0.0

0.2

0.4

0.6

0.8

1.0

Total Loans(in millions)

Total Assets(in millions)

10 11 12 10 11 12

$192 $187 $181 $222 $222$245

Total Loans(in millions)

Total Assets(in millions)

10 11 12 10 11 12

$192 $187 $181 $222 $222$245

2014

2012 2013 2014 Assets Net Loans Outstanding $181,226,242 $184,535,775 $207,000,058 Cash & Cash Equivalents 43,884,220 32,851,855 10,071,210 Shares in Other Credit Unions - 7,480,000 – Investments - 5,458,000 21,338,446 Land & Buildings 7,426,500 7,197,470 7,060,360 Furniture & Equipment 741,086 1,288,500 1,947,817 Other Assets 11,720,879 12,223,265 12,886,143 Total Assets $ 244,998,927 $251,034,865 $260,304,034

Liabilities Accounts Payable/Other Liabilities $ 4,974,803 $ 4,208,423 $ 3,715,655 Dividends Payable 12,637 11,774 0 Borrowed Funds 0 0 0 Total Liabilities $ 4,987,440 $ 4,220,197 $ 3,715,655

Members’ Equity Shares $ 214,498,266 $218,706,423 $226,922,779 Regular Reserves 3,288,625 3,288,625 3,288,625 Undivided Earnings 22,224,596 24,819,620 26,376,975

Total Equity $240,011,487 $246,814,668 $256,588,379 Total Liabilities & Equity $244,998,927 $251,034,865 $260,304,034

2012 2013 2014 Interest Interest on Loans $ 11,050,306 $ 9,714,796 $ 9,038,752 Interest on Investments 69,540 112,675 214,490 Other Income 5,429,077 5,238,362 5,555,932

Total Income $ 16,548,923 $ 15,065,833 $ 14,809,174

Expenses Interest & Dividends to Members $ 727,036 $ 539,950 $ 429,581 Compensation 6,288,205 6,624,642 7,177,001 Office Expenses 3,032,434 2,993,519 3,124,526 Other Expenses 3,049,743 2,312,700 2,480,336

Total Expenses $ 13,097,418 $ 12,470,811 $ 13,211,444 Net Income $ 3,451,505 $ 2,595,023 $ 1,597,730

Mid-Minnesota Federal Credit Union serves all of Becker, Cass, Crow Wing, Douglas, Morrison, Norman, Todd and Wadena counties as well as Blowers and Paddock townships in Otter Tail County and various townships in Aitkin County.

If you live, work, worship, or attend school in any of the geographic regions listed above, or are a relative of someone who lives, works, worships, or attends school in these areas, you are eligible for membership.

You can become a member if you meet any of the above guidelines. A simple $5.00 deposit will make you a member/owner of MMFCU – allowing you to apply for any of our hundreds of free and low-cost services.

For more information about becoming a member and all of the products and services MMFCU offers, please visit our website or call your local branch office.

mmfcu.org

Federally insured by NCUA. Equal Housing Lender.

2014 ANNUAL REPORT

Federally insured by NCUA.

Theresa Goble Chairwoman

Rhonda SmithFirst Vice Chair

Jeff Wig Second Vice Chair

Bunny Johnson

Crow Wing

Cass

AitkinWadena

MorrisonToddDouglas

Norman

Becker

Otter Tail