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NORTHERN FEDERAL CREDIT UNION CAPITAL ACCUMULATION PLAN FOR NON-UNION EMPLOYEES 401k Plan overview

Plan NameNORTHERN FEDERAL CREDIT UNION CAPITAL ACCUMULATION PLAN FOR NON-UNION EMPLOYEES
Plan identification number 003

NORTHERN FEDERAL CREDIT UNION CAPITAL ACCUMULATION PLAN FOR NON-UNION EMPLOYEES Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

NORTHERN CREDIT UNION has sponsored the creation of one or more 401k plans.

Company Name:NORTHERN CREDIT UNION
Employer identification number (EIN):150580359
NAIC Classification:522130
NAIC Description:Credit Unions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan NORTHERN FEDERAL CREDIT UNION CAPITAL ACCUMULATION PLAN FOR NON-UNION EMPLOYEES

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032023-01-01JESSICA RIDSDALE2024-06-26
0032022-01-01JESSICA RIDSDALE2023-07-07
0032021-01-01JESSICA RIDSDALE2022-04-27
0032020-01-01JESSICA RIDSDALE2021-04-21
0032019-01-01
0032018-01-01
0032017-01-01

Financial Data on NORTHERN FEDERAL CREDIT UNION CAPITAL ACCUMULATION PLAN FOR NON-UNION EMPLOYEES

Measure Date Value
2025 : NORTHERN FEDERAL CREDIT UNION CAPITAL ACCUMULATION PLAN FOR NON-UNION EMPLOYEES 2025 401k financial data
Total transfers to/from plan in this plan year2025-06-17576776
Total liabilities as of the end of the plan year2025-06-170
Total liabilities as of the beginning of the plan year2025-06-170
Total expenses incurred by plan in this plan year2025-06-17878003
Net assets as of the end of the plan year2025-06-178522548
Total assets as of the beginning of the plan year2025-06-176774941
Value of plan covered by a fidelity bond2025-06-17600000
Participant contributions to plan in this plan year2025-06-17410012
Value of participant loans at end of plan year2025-06-17143176
Other expenses paid from plan in this plan year2025-06-170
Other contributions to plan in this plan year2025-06-17475671
Other income to plan in this plan year2025-06-17811182
Plan net income in this plan year2025-06-171170831
Net assets as of the end of the plan year2025-06-178522548
Net assets as of the beginning of the plan year2025-06-176774941
Employer contributions to plan in this plan year2025-06-17351969
Fees paid to broker by Benefit Provider2025-06-1723240
Expensese paid to adminstrative service provicers from plan in this plan year2025-06-176340
2024 : NORTHERN FEDERAL CREDIT UNION CAPITAL ACCUMULATION PLAN FOR NON-UNION EMPLOYEES 2024 401k financial data
Total expenses incurred by plan in this plan year2024-06-26399934
Net assets as of the end of the plan year2024-06-266774941
Total assets as of the beginning of the plan year2024-06-265495685
Value of plan covered by a fidelity bond2024-06-26500000
Participant contributions to plan in this plan year2024-06-26403481
Value of participant loans at end of plan year2024-06-26146386
Other contributions to plan in this plan year2024-06-2610969
Other income to plan in this plan year2024-06-26912421
Plan net income in this plan year2024-06-261279256
Net assets as of the end of the plan year2024-06-266774941
Net assets as of the beginning of the plan year2024-06-265495685
Employer contributions to plan in this plan year2024-06-26352319
Fees paid to broker by Benefit Provider2024-06-2619747
Expensese paid to adminstrative service provicers from plan in this plan year2024-06-263671
2022 : NORTHERN FEDERAL CREDIT UNION CAPITAL ACCUMULATION PLAN FOR NON-UNION EMPLOYEES 2022 401k financial data
Total transfers to/from plan in this plan year2022-04-270
Total liabilities as of the end of the plan year2022-04-271506
Total liabilities as of the beginning of the plan year2022-04-270
Total expenses incurred by plan in this plan year2022-04-27766065
Net assets as of the end of the plan year2022-04-275819880
Total assets as of the beginning of the plan year2022-04-275347836
Value of plan covered by a fidelity bond2022-04-27600000
Participant contributions to plan in this plan year2022-04-27292182
Value of participant loans at end of plan year2022-04-27138812
Other expenses paid from plan in this plan year2022-04-270
Other contributions to plan in this plan year2022-04-270
Other income to plan in this plan year2022-04-27580180
Plan net income in this plan year2022-04-27470538
Net assets as of the end of the plan year2022-04-275818374
Net assets as of the beginning of the plan year2022-04-275347836
Value of contributions failed to transmitted timely2022-04-27112368
Employer contributions to plan in this plan year2022-04-27364241
Expensese paid to adminstrative service provicers from plan in this plan year2022-04-272715

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