Becker, Cass, Team - MMFCU MMFC… · Jason Anakkala Secretary Mark Korwin-Kuczynski Second Vice Chair Team ... Mid-Minnesota Federal Credit Union serves all of Becker, Cass,

Field of Membership

ALEXANDRIA 405 50th Avenue West(320) 762-2686

BAXTER 13283 Isle Drive(218) 829-0371

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

CROSBY 117 West Main Street (218) 546-5428

DETROIT LAKES 1135 Washington Avenue(218) 844-5540

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

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

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

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

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

MMFCU Locations

Jason Anakkala Secretary

Mark Korwin-Kuczynski Second Vice Chair

Executive TeamCharles (Chuck) Albrecht, CCEChief Executive Officer/President

Chris TangenChief Technology Officer

Doug WolfEVP/Chief Financial Officer

Mary Pedersen, CCUEEVP/Chief Operations Officer

Vice PresidentsJonathan LeMieurVP of Consumer & Mortgage Lending

Karen MunsterteigerVP of Accounting & Finance

Michelle BoggsVP of Human Resources

Missy Borg, CCUEVP of Branch Operations

Troy CasperVP of Business Services

DirectorsCheryl McKinneyDirector of Loss Prevention

Dusti BorgDirector of Support Services

Jill CarlsonDirector of Training & Community Relations

Jon TomlinsonDirector of Mortgage Services

Karly LilloDirector of Technology Services

Marnie Perfetti Galston, CCUEDirector of Marketing & Communications

MMFCU Branch ManagersAmy SjobladPequot Lakes Branch Manager

Becca RobbinsDetroit Lakes Branch Manager

Danielle AddisonBrainerd Branch Manager

Jeanne LeeLittle Falls Branch Manager

Jill DecentCrosby Branch Manager

Nate OlsonRegional Manager

Nicole PfefferAlexandria Branch Manager

Terri KobliskaStaples Branch Manager

Tiffany HirscheyRegional Manager

Val RiepeTwin Valley AssistantBranch 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, Vice Presidents, 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 BolzRod Carlson Mel Dahlberg Pat Krueger Ed Spilman

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

2012 Loan Mix(percentages)

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

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Total Loans(in millions)

Total Assets(in millions)

10 11 12 10 11 12

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



13 14 15 13 14 15

$228 $283

$185

$207$251

$260

Loan Mix(percentages)

Automobile ......................46%First Mortgage ...............18%Business Purpose .........13%Recreational ....................... 9%Second Mortgage ........... 7%Visa ........................................... 4%Other ....................................... 3%

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10 11 12 10 11 12

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



10 11 12 10 11 12

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

2015

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

* Aitkin County Townships eligible for membership are: Aitkin, Farm Island, Fleming, Glen, Hazelton, Jeven, Kimberly, Lakeside, Logan, Malmo, McGregor, Morrison, Nordland, Shamrock, Spencer, Turner, Wealthwood, and Workman Townships.

Federally insured by NCUA. Equal Housing Lender.

Federally insured by NCUA.

Theresa Goble Chairwoman

Rhonda Smith First Vice Chair

Jeff Wig

Bunny Johnston

Crow Wing

Cass

AitkinWadena

MorrisonToddDouglas

Norman

Becker

Otter Tail

Balance Sheets For the Years Ended December 31, 2013-2015

2013 2014 2015 Assets Net Loans Outstanding $184,535,775 $207,000,058 $ 227,685,262 Cash & Cash Equivalents 32,851,855 10,071,210 17,309,783 Shares in Other Credit Unions 7,480,000 - - Investments 5,458,000 21,338,446 15,631,409 Land & Buildings 7,197,470 7,060,360 6,923,407 Furniture & Equipment 1,288,500 1,947,817 2,792,086 Other Assets 12,223,265 12,886,143 13,085,257 Total Assets $251,034,865 $260,304,034 $283,427,204

Liabilities Accounts Payable/Other Liabilities $ 4,208,423 $ 3,715,655 $3,279,063 Dividends Payable 11,774 0 0 Borrowed Funds 0 0 0 Total Liabilities $ 4,220,197 $ 3,715,655 $ 3,279,063

Members’ Equity Shares $218,706,423 $226,922,779 $ 249,080,266 Regular Reserves 3,288,625 3,288,625 3,288,625 Undivided Earnings 24,819,620 26,376,975 27,779,250

Total Equity $246,814,668 $256,588,379 $280,148,141

Total Liabilities & Equity $251,034,865 $260,304,034 $283,427,204

Income Statements For the Years Ended December 31, 2013-2015

2013 2014 2015 Interest Interest on Loans $ 9,714,796 $ 9,038,752 $ 10,093,321 Interest on Investments 112,675 214,490 256,038 Other Income 5,238,362 5,555,932 5,941,103

Total Income $15,065,833 $14,809,174 $ 16,290,462

Expenses Interest & Dividends to Members $ 539,950 $ 429,581 392,568 Compensation 6,624,642 7,177,001 7,879,778 Office Expenses 2,993,519 3,124,526 3,747,647 Other Expenses 2,312,700 2,480,336 2,902,597

Total Expenses $ 12,470,811 $ 13,211,444 $14,922,590

Net Income $ 2,595,023 $ 1,597,730 $ 1,367,872

Field of Membership











MMFCU Locations











































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10 11 12 10 11 12

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



13 14 15 13 14 15

$228 $283

$185

$207$251

$260



0.0

0.2

0.4

0.6

0.8

1.0



10 11 12 10 11 12

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



10 11 12 10 11 12

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

2015





mmfcu.org






Jeff Wig

Bunny Johnston

Crow Wing

Cass

AitkinWadena

MorrisonToddDouglas

Norman

Becker

Otter Tail





Total Equity $246,814,668 $256,588,379 $280,148,141




Total Income $15,065,833 $14,809,174 $ 16,290,462


Total Expenses $ 12,470,811 $ 13,211,444 $14,922,590

Net Income $ 2,595,023 $ 1,597,730 $ 1,367,872

Chuck Albrecht, President/CEO

President’s Message

The year was 1956.I am incredibly inspired and humbled when I look back to how Mid-Minnesota Federal Credit Union came to be – 60 years ago this year.Historical record tells us it was seven employees of the Northwest Paper Company who decided to start their own financial cooperative. Now, 60 years later, the people’s credit union is alive and well with the same vision it was created – to provide an opportunity to the people to have a say in their financial journey.

At MMFCU, everyone who has an account is a member, and owner, of the Credit Union. Members can vote for credit union directors to help run their financial institution. I was elected to this position because of you – our member/ owners. After becoming a member, you’re invited to enjoy the benefits of not only free and low cost services and exceptional rates, but also knowing you have a say in the decisions being made.

I am proud to share that, in 2015, MMFCU saved its members a total of $751,087.12 through refinancing other loans with better rates, providing services at reduced to no additional fees, and more.

We continue to expand our menu of options and services for our members – from opening your first savings account to investment and retirement services and everything in between.

As times change, so do the delivery methods in sharing news and information with our members. In the last year, we have increased our social media presence – taking advantage of platforms including Twitter, Facebook, and Pinterest (to name a few). If you don’t know what one (or all) of these are, don’t feel bad; you’re not alone. But many of our members are very familiar, and this allows us to assist them as they embark on their financial journey.

Speaking of online opportunities – we recently launched software that allows individuals to apply for loans and open new accounts by computer or Smartphone. It’s amazing what technology has made possible in just the last few years.

I’d be remiss not to acknowledge and commend our MMFCU staff. This dedicated group of our neighbors and friends continues to find bigger and better ways to meet the needs of our membership. And, in true fashion with our motto “People Helping People,” MMFCU staff continue to contribute countless hours of volunteerism in and around their communities. It’s just part of who they are and what they do. Walking the walk and talking the talk.

It has been a phenomenal year to be involved with Mid-Minnesota Federal Credit Union. I am proud of what has transpired over time and am in anxious anticipation of what’s yet to come.

Happy 60th Anniversary, MMFCU! I am proud to represent this organization and its members as Chair of your Board of Directors.

Chairwoman’s Report

– Theresa Goble, Chairwoman

By tradition, a 60th anniversary is typically symbolized by a diamond or gold – both precious and coveted. This year, we celebrate

the 60th anniversary of Mid-Minnesota Federal Credit

Union. Much like the symbols that commemorate

such an occasion, we believe this organization to be

valuable and highly regarded.

We have experienced much growth and, as a result, many positive changes over the past year. From behind-the-scenes enhancements to front-of-the-house additions, Mid-Minnesota Federal Credit Union refuses to rest on its laurels. We continue to recognize the diverse and changing needs of our membership and rise to the occasion in meeting those needs.

In 2015 MMFCU commenced and completed a long-anticipated Core Enhancement process. This process drastically improved our technological infrastructure, paving the way for new products our members have requested and providing improvements to many of MMFCU’s current services. I would like to thank our staff and members for their patience during this extensive process. It was not an easy undertaking, but it was a critical one for our growing organization.

As we continually fine tune existing services, we also consistently work to add new tools to our proverbial financial toolbox. In 2015, we launched ClickSWITCHTM,

an online link that allows members to move recurring payments from old accounts to a new one with MMFCU. The process is automated, easy and quick. With ClickSWITCH, MMFCU members can change financial institutions without the hassle of filling out multiple forms or wasting time contacting payees for automated payments. Simply log into the ClickSWITCH portal and switch your existing direct deposits and automatic payments. Account information is transferred instantly, paving the way for a smooth and speedy transition to your new account.

For those counting down the days until retirement, we have provided a variety of resources and tools in a one-stop shop within mmfcu.org. At Retirement Central®, you’ll find everything you need to help plan for a successful retirement, whether it’s in 10 months or 10 years. This page is designed to provide the informa-tion, planning tools and practical ideas you can apply today, as well as a listing of frequently asked questions and more.

MMFCU also recently announced the addition of TruStage® Insurance – additional insurance options for auto, home, health and life. TruStage Insurance products and programs help members protect what matters most. Backed by nearly 80 years of working in partnership with credit unions and their members, you’ll find affordable products and programs – only available to credit union members like you.

As you can likely imagine, with an increase in products and services comes the need to provide additional staff and locations to better serve you. In August 2015, MMFCU opened its ninth full service branch location in Detroit Lakes. Our Field of Membership expansion in 2014 also led to a merger with Pine to Prairie Federal Credit Union in Twin Valley and has subsequently meant an increase in membership in the last year alone. We have also added new faces to our MMFCU family, and reorganized our internal staff organizational structure.

Our Education Network continues to flourish. With the help of technology, we are now able to electronically share educational sessions with outlying communities, via WebEx. Last year, we offered 12 different workshops ranging from “Identity Theft” to “Caring for Aging Parents. “ Providing educational opportunities on a variety of topics is of utmost importance to MMFCU. We want to arm our members with the information and resources to make the best decisions for themselves and their loved ones throughout their lifetime. A listing of current offerings is available on our website under the “Events” tab.

We also continue to provide financial education in several school districts within our service area. These courses are provided in conjunction with required high school curriculum, and help equip our leaders of tomorrow with the skills and knowledge to make prudent financial decisions in the years to come. We are incredibly proud of the partnerships we have made through this program and the achievements these students have made as a result of what they’ve learned.

With all of that said, I wonder if – back in 1956 – that small group of men and women who came together to form this credit union ever imagined the impact their organization would have. Over the past 60 years, we have evolved with the times. Not to say we haven’t been through our share of ups and downs, but through it all we have remained true to the philosophy of “People Helping People.”

Together, we celebrate this sixth decade of helping one another on the road to financial success and are grateful to those who had the foresight to begin this journey so many years ago on a prayer and a handshake.

As the Dutch proverb goes, “From humble beginnings come great things.”

– Chuck Albrecht, President/CEO

A rowdy rock and roller named Elvis Presley came onto the scene releasing his first

song, “Heartbreak Hotel.” Also in the world of entertainment, actress Grace Kelly married

Prince Rainier III, of Monaco; heavyweight-boxing champion Rocky Marciano retired

without losing a professional boxing match; and Bob Barker made his TV debut as host

of the game show Truth or Consequences.

Those wanting to purchase a new home looked to spend an average of $11,700. Yearly

wages for the working class were approximately $4,450. A new car averaged about

$2,050, and gasoline to fill it was 22 cents a gallon.

In 60 years, much has changed. We’ve come a long way from “Guys and Dolls” and the

first black and white portable television. However, in 1956, a group of forward-thinking,

hard-working individuals put into motion a local movement that has not only remained

unchanged, but has strengthened and stood the test of time.

Seven employees of the Northwest Paper Company created the Northwest Employees

Credit Union – a financial cooperative that would provide ownership to its members,

and nothing more than a simple handshake finalized a deal.

Today, we celebrate the concept of the credit union. Mid-Minnesota Federal Credit

Union was started and supported by men and women who longed for something

different. They wanted a choice in their financial solutions. Perhaps some couldn’t

qualify for loans at their bank and knew the credit union was their only option to see their

dreams become reality. We can only begin to imagine the doors a credit union opened

for these hard-working people. It was far more than a financial institution.

From humble beginnings came Mid-Minnesota Federal Credit Union – now nearly

38,000 members strong with over $287,868,101 in total assets.

We are proud of who we were, who we are and where we are headed. This has been

a journey 60 years in the making – rich in history and people-centered. Thank you

for allowing us to walk along side you and continuing to build upon a legacy and

strong community tradition.

1966 – Potlach Dam, Brainerd, MN

1970Name changed to Brainerd

Community Federal Credit Union

1971Merged in Northern Division

Telco Credit Union

1985Merged in Hennepin Employees Federal Credit Union & several employer credit

unions in Little Falls

1989Merged in Heartland Federal

Credit Union in Staples

2015Merged in Pine to Prairie Federal Credit

Union in Twin Valley & opened a Full Service Branch in Detroit Lakes

That was Then. This is Now. Your Credit Union’s History.

1973Merged in City-County Credit Union

1956Mid-Minnesota was founded by seven

Northwest Paper Company employees creating Northwest Employees Credit Union

1982Name changed to Mid-Minnesota Federal

Credit Union with the merger of Cuyuna Range Federal Credit Union

2006Baxter Full Service Branch opened

2016MMFCU celebrates 60 years of

serving central Minnesota!

Over the past 60 years, we have evolved with the times.

2012Merged in Ashby Federal Credit Union

2008Alexandria Full Service Branch opened

2011Pequot Lakes Full Service Branch opened

Field of Membership











MMFCU Locations











































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10 11 12 10 11 12

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



13 14 15 13 14 15

$228 $283

$185

$207$251

$260



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1.0



10 11 12 10 11 12

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



10 11 12 10 11 12

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

2015





mmfcu.org






Jeff Wig

Bunny Johnston

Crow Wing

Cass

AitkinWadena

MorrisonToddDouglas

Norman

Becker

Otter Tail





Total Equity $246,814,668 $256,588,379 $280,148,141




Total Income $15,065,833 $14,809,174 $ 16,290,462


Total Expenses $ 12,470,811 $ 13,211,444 $14,922,590

Net Income $ 2,595,023 $ 1,597,730 $ 1,367,872































































Telco Credit Union


















































































Telco Credit Union


















































































Telco Credit Union




















Field of Membership











MMFCU Locations











































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10 11 12 10 11 12

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



13 14 15 13 14 15

$228 $283

$185

$207$251

$260



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0.4

0.6

0.8

1.0



10 11 12 10 11 12

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



10 11 12 10 11 12

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

2015





mmfcu.org






Jeff Wig

Bunny Johnston

Crow Wing

Cass

AitkinWadena

MorrisonToddDouglas

Norman

Becker

Otter Tail





Total Equity $246,814,668 $256,588,379 $280,148,141




Total Income $15,065,833 $14,809,174 $ 16,290,462


Total Expenses $ 12,470,811 $ 13,211,444 $14,922,590

Net Income $ 2,595,023 $ 1,597,730 $ 1,367,872

Documents

Becker, Cass, Team - MMFCU MMFC… · Jason Anakkala Secretary Mark Korwin-Kuczynski Second Vice Chair Team ... Mid-Minnesota Federal Credit Union serves all of Becker, Cass,