EIN 41-0705136

Magnifi Financial Credit Union

IRS 501(c) type
Num. employees
Year formed
Most recent tax filings
Central Minnesota Credit Union, a member-owned financial cooperative, provides loan, deposit and other financial services to 74,040 members. It offers retail, commercial and agricultural loans with 33,145 outstanding loans as of December 31, 2021 and balances of $1,187,871,631. Additionally, it provides a variety of depository services with 220,801 member accounts holding deposits of $1,414,474,621 as of December 31, 2021.
Related structure
Magnifi Financial Credit Union is child organization, under the parent exemption from Credit Unions in the State of Minnesota.
Also known as...
Central Minnesota Credit Union
Total revenues
Total expenses
Total assets
Num. employees

Program areas at Magnifi Financial Credit Union

Magnifi Financial Credit Union paid dividends of $6,458,399.31 on amounts deposited by members.
As a state chartered Credit Union we provide a variety of lending services to our membership including retail, commercial and agricultural loans. The Credit Union had 42,849 loans outstanding as of december 31, 2022 with balances of $1,728,122,457.31.
As a state chartered Credit Union we provide a variety of depository services to our membership. The Credit Union had 246,220 member accounts with deposits of $1,667,926,242.96 as of december 31, 2022.

Grants made by Magnifi Financial Credit Union

GranteeGrant descriptionAmount
Magnifi Financial FoundationSupport of Private Foundation To Further Their Exempt Purpose$83,984
Cold Spring Area BaseballSupport To Further Their Exempt Purpose$10,000

Personnel at Magnifi Financial Credit Union

Charles FriederichsChief Executive Officer$822,773
Theresa TschumperlinCuso Chief Executive Officer$204,959
Neal KaderabekChief Digital and Info Officer / Senior Vice President of Is and Technology$594,126
Nancy RoskeChief Administrative Officer$342,405
Scott EveslageVice President Marketing / Vice President of Marketing$169,525
...and 13 more key personnel

Financials for Magnifi Financial Credit Union

RevenuesFYE 12/2022
Total grants, contributions, etc.$0
Program services$71,484,430
Investment income and dividends$3,757,590
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$292,256
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$11,869,543
Total revenues$87,403,819

Form 990s for Magnifi Financial Credit Union

Fiscal year endingDate received by IRSFormPDF link
2022-122023-11-14990View PDF
2021-122022-10-04990View PDF
2020-122021-10-20990View PDF
2019-122020-08-21990View PDF
2018-122019-07-23990View PDF
...and 8 more Form 990s
Data update history
January 5, 2024
Posted financials
Added Form 990 for fiscal year 2022
January 4, 2024
Updated personnel
Identified 4 new personnel
December 25, 2023
Used new vendors
Identified 1 new vendor, including
November 25, 2023
Posted financials
Added Form 990 for fiscal year 2021
July 11, 2023
Used new vendors
Identified 4 new vendors, including , , , and
Nonprofit Types
Credit unionsChapter / child organizations
No issues found
State / local level
General information
20 4th Ave Se
Melrose, MN 56352
Metro area
St. Cloud, MN
Stearns County, MN
Website URL
(320) 256-3669
IRS details
Fiscal year end
Taxreturn type
Form 990
Year formed
Eligible to receive tax-deductible contributions (Pub 78)
NTEE code, primary
W60: Financial Institutions, Credit Unions
NAICS code, primary
522130: Credit Unions
Parent/child status
Child within group exemption
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