Mission
AS A MEMBER-OWNED FINANCIAL COOPERATIVE, WE WILL DEVELOP AND OFFER COMPETITIVE PRODUCT LINES THAT MEET MEMBERS' NEEDS WHILE MAINTAINING ASSET STRENGTH AND BE A FULL-SERVICE ORGANIZATION THAT SATISFIES THE NEEDS OF THE MEMBERSHIP.
Public Charity
ELY AREA CREDIT UNION
Based in ELY, MN, ELY AREA CREDIT UNION operates as a Public Charity. The organization reported $3.5M in revenue, $1.8M in expenses, $73.2M in total assets for fiscal year 2025.
EIN: 410237440
ELY, MN
Latest filing: 2025
Total Revenue$3.5M
Total Expenses$1.8M
Total Assets$73.2M
Grant Records0
Filing Years2021–2025
Where $100 goes at Ely Area Credit Union
How Ely Area Credit Union divides every $100 it spends, from its own Form 990 filings, averaged across 9 years.
$94
Programs
the work itself
$6
Management
running the organization
$0
Fundraising
none reported
No fundraising costs are reported. That often means fundraising runs through a separate affiliated organization that files its own return.
Inside the $94 for programs
$32
Dividends paid to the members quarterly on their savings accounts
$31
Provides financial & financially related services to our members
$31
Provides a source of credit to members at a fair & reasonable rate of interest
Source: Form 990 filings with the IRS, latest fiscal year 2025. Shares are from the organization's reported expenses. Data by Imperigo; not affiliated with the IRS.
Officers & Directors
VICE CHAIR
Barbara Mathews
BOARD MEMBER
Deb Anderson
BOARD MEMBER
Kerry Davis
TREASURERMANAGER
Mark Krekelberg
BOARD MEMBER
Stephen Peterson
BOARD MEMBER
Tina Foster
Officer compensation and complete director data available with membership.
Financial Trends
| Year | Revenue | Expenses | Assets |
|---|---|---|---|
| 2025 | $3.5M | $1.8M | $73.2M |
| 2024 | $2.9M | $1.7M | $67.4M |
| 2023 | $2.3M | $1.4M | $65.0M |
| 2022 | $1.9M | $1.4M | $63.7M |
| 2021 | $1.9M | $1.4M | $63.2M |
Between 2021 and 2025, reported annual revenue grew from $1.9M to $3.5M (+86%), with total assets most recently reported at $73.2M.
Interactive year-over-year charts and full filing details available with membership.