Novation Credit Union
TO OFFER PERSONALIZED FINANCIAL SOLUTIONS EXCLUSIVELY TO 3M EMPLOYEES, MCLEOD COUNTY, NOVATION CREDIT UNION FOUNDATION DONORS AND THEIR FAMILIES.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$232.5M
+2.4% YoY
Revenue
$13.5M
+19.3% YoY
Net Investment Income
$2.1M
+67.4% YoY
Expenses
$10.9M
+11.9% YoY
About Novation Credit Union
Based on IRS filings
Novation Credit Union is a nonprofit organization, based in OAKDALE, MN. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $232.5M in total assets. Net investment income was $2.1M.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $232,490,083 | $227,086,966 | $224,719,719 |
| Revenue | $13,474,710 | $11,293,465 | $9,264,760 |
| Expenses | $10,934,887 | $9,770,324 | $7,323,942 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $2,145,788 | $1,282,080 | $698,758 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 0 recipients in 2024
Grant Size Distribution
1 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| MIKE KRONEBUSCH | PRESIDENT/CEO | 50 | $260,587 |
| JOSEPH PAUL | DIRECTOR | 1 | $1,200 |
| JOHN SCHWALBACH | DIRECTOR | 1 | $1,200 |
| WENDY BENSON | SECRETARY | 1 | $1,200 |
| MARY EDINGER | BOARD CHAIR | 2 | $1,200 |
| MATT JUHL | VICE CHAIR | 1 | $1,200 |
| DARYL THOENNES | DIRECTOR | 1 | $1,200 |
| DAN CARLSON | DIRECTOR | 1 | $1,200 |
| ROBERT KODY | DIRECTOR | 1 | $900 |
| MICHELLE NEPHEW | DIRECTOR | 2 | $900 |
| SHAWN SCHOW | DIRECTOR | 1 | $400 |
| DAWN MCGINLEY | CHAIR | 1 | $400 |
| TERRY KAHLE | VP OF FINANCE/CFO | 50 | $170,635 |
| NICK ALTAVILLA | VP OF DIGITAL EXPERIENCE & OPERATIONS | 50 | $121,958 |
| LORI SCHAETZKA | DIRECTOR OF TECHNOLOGY | 50 | $106,107 |
| TODD BRANDEL | CHIEF LENDING OFFICER | 50 | $99,534 |
| TYLER SACHE | VP OF MARKETING & STRATEGY | 50 | $169,941 |
| KRISTI MUKOMELA | FORMER CEO (12/31/23) | — | $133,670 |
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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