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Compensation 990 is an independent service that uses public IRS Form 990 filings as its source data. We clean and standardize this information, but the original filings may contain errors or omissions. Years on this site refer to the organization’s fiscal year end date on the filing.

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Organizations Novation Credit Union

Novation Credit Union

Fiscal year ending 2024. Filed on November 4, 2025.

500 Imperial Ave
Oakdale, Minnesota 55128

Novation Credit Union (EIN: 41-0800081) has filed an IRS Form 990 since at least fiscal year 2016. In its fiscal year 2024 IRS Form 990 filing, Novation Credit Union, a 501(c)(14) state-chartered credit union or mutual reserve fund, reported compensation for 7 out of 43 total employees. Among the employees shown here, the average compensation is $169,573. The highest compensated employee at Novation Credit Union is Mike Kronebusch with fiscal year 2024 compensation of $276,055.

Revenue, expenses, and employee compensation

Revenue

$13,474,710

Expenses

$10,934,887

Employee compensation

$3,822,702
Revenue, expenses, and employee compensation over time

Reported Compensated Employees

Mike Kronebusch
President and Chief Executive Officer
$276,055
$260,587 No related comp$15,468
Terry Kahle
Chief Financial Officer and Vice President, Finance
$198,314
$170,635 No related comp$27,679
Tyler Sache
Vice President of Marketing and Strategy
$181,100
$169,941 No related comp$11,159
Nick Altavilla
Vice President of Digital Experience and Operations
$136,919
$121,958 No related comp$14,961
Kristi Mukomela
Former CEO (12/31/23)
$135,290
$133,670 No related comp$1,620
Lori Schaetzka
Technology Director
$130,137
$106,107 No related comp$24,030
Todd Brandel
Chief Lending Officer
$129,199
$99,534 No related comp$29,665

Benchmark Employee Compensation

Non-Employee Board Members

Matt Juhl
Vice Chair
$1,200
$1,200 No related compNo other comp
Wendy Benson
Secretary
$1,200
$1,200 No related compNo other comp
Joseph Paul
Director
$1,200
$1,200 No related compNo other comp
Dan Carlson
Director
$1,200
$1,200 No related compNo other comp
John Schwalbach
Director
$1,200
$1,200 No related compNo other comp
Daryl Thoennes
Director
$1,200
$1,200 No related compNo other comp
Mary Edinger
Board Chair
$1,200
$1,200 No related compNo other comp
Robert Kody
Director
$900
$900 No related compNo other comp
Michelle Nephew
Director
$900
$900 No related compNo other comp
Shawn Schow
Director
$400
$400 No related compNo other comp
Dawn McGinley
Chair
$400
$400 No related compNo other comp

Contractors

Velera
Card Processing
$676,576
G&A Outsourcing LLC
Peo
$652,845
Candescent
E
$346,960
Fiserv
Account Processing
$288,695
Rsm US LLP
IT/Network Managed
$234,330

Mission Statement

TO OFFER PERSONALIZED FINANCIAL SOLUTIONS EXCLUSIVELY TO 3M EMPLOYEES, MCLEOD COUNTY, NOVATION CREDIT UNION FOUNDATION DONORS AND THEIR FAMILIES.

Revisions to this organization profile

November 4, 2025:
2024 Novation Credit Union 990 filed
September 10, 2024:
2023 Novation Credit Union 990 filed
November 8, 2023:
2022 Novation Credit Union 990 filed

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Other organizations also named Novation Credit Union

Novation Credit Union Foundation
Oakdale, Minnesota