1 Table of contents 20

2025 Annual Report

2025 ANNUAL REPORT		1
mpact.		2
95 Years of		2
$129,500+		2
Donated by SCFCU to the surrounding communities in 2025		2
5,600+		2
Volunteer and community service hours by SCFCU employees		2
$24,400+		2
Donated to non-profits by SCFCU and our members		2
$332,100+		2
Amount donated by SCFCU to our local communities 2023-2025		2
OUR VISION AND MISSION		3
VISION		3
MISSION		3
Randy Schreifels		4
Sony Lubrecht		4
Sarah Maier		4
Becky Eisenwinter		4
Rick Wurst		4
Andrew Johannes		4
Ken Erickson		4
Bryan Rubin		4
Dear Members,		4
BOARD OF DIRECTORS REPORT		4
Governance Through a Year of Intentional Growth		5
People, Culture, and Leadership		5
Disciplined Growth & Financial Resilience		5
Membership & Market Expansion		5
Operational Readiness & Scalability		5
Innovation with Appropriate Risk Oversight		5
Looking Forward		5
SUPERVISORY COMMITTEE REPORT		6
Charles Foster		6
Gary Gillitzer		6
Kevin Kouba		6
James Holweger		6
Victor Barnes		6
Justin Burnard		6
Throughout the year, the volunteer Supervisory Committee is responsible to make sure the credit union’s financial records are in proper financial condition. Meeting on a monthly basis, the committee oversees that internal controls are in place to protect the assets of the credit union and its members.		6
From the Supervisory Committee’s perspective, St. Cloud Financial Credit Union remained in compliance with good financial practices and regulatory requirements.		6
We are grateful for the opportunity to serve the cooperative!		6
Charles Foster Committee Chair		6
“We strive to make every member feel valued and empowered.”		6
Supervisory Committee Primary Duties and Responsibilities:		7
Provide oversight of credit union operations and the safety of members’ funds.		7
Select and hire an independent CPA firm to perform the Annual Financial Statement Audit.		7
Review all results of internal and external audits, federal and state examinations, and confirm that necessary changes have been implemented.		7
Prepare a monthly minutes report on Supervisory Committee activities to the credit union Board of Directors.		7
Have a member of the Supervisory Committee attend the monthly Board of Directors meeting.		7
Prepare required State of Minnesota semi-annual supervisory committee reports.		7
SCFCU EXECUTIVE TEAM		8
Jed Meyer		8
President/CEO		8
Chase Larson		8
EVP/CLO		8
Meggan Schwirtz		8
CXO		8
Franco Cusipag		8
CFO		8
Justin Burnard		8
CTO		8
LeAnn Case		8
CSO		8
PRESIDENT/CEO REPORT		9
Serving Members. Strengthening Community. Leading with Purpose.		9
Jed Meyer		9
Serving Our Members		9
Strengthening Our Community		9
Investing in Our Employees		10
Leading Nationally, Staying Local		10
Looking Ahead		10
TREASURER’S REPORT		11
A Year of Growth and Financial Strength		11
Franco Cusipag		11
CFO/Treasurer		11
www.triunityfoundation.org		12
Empowering Hope, Healing and Strength while eliminating the financial strain for those facing a life-threatening illness		12
$166,000		12
raised during the first TriUnity Foundation Gala in 2025		12
$180,000		12
in funds granted to members facing terminal illness in 2025		12
members and families impacted across five states		12
“The grant from the TriUnity Foundation could not have come at a better time. I am facing numerous financial difficulties. This grant will make this year so much easier for me and my family. I will no longer have to worry about finances this year and I can focus on fighting this cancer battle. I cannot thank the TriUnity Foundation enough! You are angels in my world!” - 2025 Grant recipient		12
Honoring those who make a meaningful difference within our community!		13
Do you know someone doing great things in the community?		13
Nominations are opening soon!		13
United We Make a		14
Difference.		14
“I have to say that I am blown away by your generosity. You had the most wonderful fun crew and it was so greatly appreciated how much work you got done. With me being on the road so much this summer, I obviously had so much work to catch up on and you really eased that burden. ”		14
Joah’s Ark, 2024 Organization		14
Impact.		15
2025 PROGRESS REPORT		16
Membership by Year		16
28,066		16
25,574		16
24,807		16
24,398		16
23,256		16
22,352		16
22,914		16
19,502		16
Assets by Year (In Millions)		16
Net Worth to Assets by Year		17
Net Worth		17
Assets		17
8.88%		17
9.10%		17
7.92%		17
2018		17
2019		17
2020		17
7.53%		17
7.43%		17
7.65%		17
7.31%		17
2021		17
2022		17
2023		17
2024		17
7.30%		17
2025		17
Loans and Deposits by Year (In Millions)		17
BALANCE SHEET		18
Assets		18
2025		18
2024		18
Change		18
Loans, net		18
$338,918,463		18
$319,628,318		18
$19,290,145		18
Cash & Investments		18
$71,432,960		18
$39,081,808		18
$32,351,152		18
Property & Equipment		18
$8,838,907		18
$8,811,009		18
$27,898		18
Other Assets		18
$10,763,983		18
$7,058,039		18
$3,705,944		18
Total Assets		18
$429,954,314		18
$374,579,174		18
$55,375,140		18
Liabilities & Members’ Equity		18
2025		18
2024		18
Change		18
Member Shares		18
$382,979,999		18
$345,026,996		18
$37,953,003		18
Borrowed Funds		18
$10,000,000		18
$1,500,000		18
$8,500,000		18
Other Liabilities		18
$5,170,731		18
$3,003,264		18
$2,167,467		18
Total Liabilities		18
$398,150,730		18
$349,530,260		18
$48,620,470		18
Members’ Equity		18
$31,803,584		18
$25,048,914		18
$6,754,670		18
Total Liabilities & Equity		18
$429,954,314		18
$374,579,174		18
$55,375,140		18
INCOME STATEMENT		19
Net Interest Income		19
2025		19
2024		19
Change		19
Loans		19
$18,793,560		19
$16,309,394		19
$2,484,166		19
$754,888		19
$744,469		19
Investments		19
$1,499,357		19
Member Dividends		19
($6,770,255)		19
($6,041,277)		19
($728,978)		19
Interest on Borrowed Money		19
($333,078)		19
($523,758)		19
$190,680		19
Provision for Loan Losses		19
($1,188,870)		19
($900,787)		19
($288,083)		19
Net Interest Income		19
$12,000,714		19
$9,598,460		19
$2,402,254		19
2025		19
Non-Interest Income		19
2024		19
Change		19
Service Fees		19
$2,089,846		19
$1,912,019		19
$177,827		19
Loan Sale & Other Income		19
$5,608,410		19
$2,438,247		19
$3,170,163		19
Non-Interest Income		19
$7,698,256		19
$4,350,266		19
$3,347,990		19
2025		19
Non-Interest Expense		19
2024		19
Change		19
Staff Compensation & Benefits		19
($6,338,443)		19
($5,968,009)		19
($370,434)		19
Occupancy & Office Operations		19
($2,463,346)		19
($2,064,511)		19
($398,835)		19
Professional Services		19
($4,151,564)		19
($3,663,415)		19
($488,149)		19
Other		19
($1,845,645)		19
($1,170,312)		19
($675,333)		19
Total Non-Interest Expense		19
($14,798,998)		19
($12,866,247)		19
($1,932,751)		19
Net Income		19
$4,899,973		19
$1,082,479		19
($3,096,233)		19
PHONE		20
320-252-2634		20
WEBSITE		20
www.SCFCU.org		20
ST. CLOUD 3030 1st Street South St. Cloud, MN 56301		20
www.triunityfoundation.org		20
SARTELL 1716 Pine Cone Road South Sartell, MN 56377		20
BECKER 14627 Bank Street Becker, MN 55308		20
SAUK RAPIDS 205 2nd Street North Sauk Rapids, MN 56379		20
ALBERTVILLE 5600 La Centre Avenue, Suite 100 Albertville, MN 55301		20

www.scfcu.org

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