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 2024.
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 |
Frequently Asked Questions
How large is Novation Credit Union?
As of 2024, Novation Credit Union holds $232.5M in total assets with $13.5M in annual revenue.
Where does Novation Credit Union operate?
Novation Credit Union has awarded grants in Minnesota.
What is Novation Credit Union's EIN?
Novation Credit Union's EIN (Employer Identification Number) is 41-0800081. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Novation Credit Union's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.