Civic Intelligence

Members Source Credit Union

990 • Fiscal year 2015 • EIN 35-0873966

Jan 01, 2015 to Dec 31, 2015 • Filed on May 03, 2016

Organization Profilewww.ms-cu.com

View Organization Page

8580 Virginia StreetMerrillville, IN 46410-6235

(219) 756-4141

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

46th percentile

0.89x

Higher debt load relative to assets than 46% of similar nonprofits.

2015 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2015

Liabilities / Revenue

87th percentile

26.13x

Higher debt load relative to revenue than 87% of similar nonprofits.

2015 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2015

Net Margin

38th percentile

6.2%

Higher net margin than 38% of similar nonprofits.

2015 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2015

Top Officer Pay

7th percentile

$76,942

Higher top officer pay than 7% of similar nonprofits.

Top officer pay equals 3.1% of source-year revenue.

2015 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2015

Asset Growth

34th percentile

2.3%

Faster asset growth than 34% of similar nonprofits.

2015 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Revenue Growth

52nd percentile

1.9%

Faster revenue growth than 52% of similar nonprofits.

2015 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets46th percentile

Assets

Up

$73,735,054

Up $1,642,868 (+2.3%) from 2014

Net Assets

Up

$8,367,414

Up $59,790 (+0.7%) from 2014

Liabilities

Up

$65,367,640

Up $1,583,078 (+2.5%) from 2014

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin38th percentile

Revenue

Up

$2,501,821

Up $46,663 (+1.9%) from 2014

Expenses

Up

$2,346,425

Up $77,374 (+3.4%) from 2014

Net Income

Down

$155,396

Down $30,711 (-17%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth34th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$100M$50M$0Assets 2010: $69,264,524Liabilities 2010: $61,358,254Net Assets 2010: $7,906,2702010Assets 2011: $70,351,648Liabilities 2011: $62,388,583Net Assets 2011: $7,963,0652011Assets 2012: $72,149,519Liabilities 2012: $64,072,582Net Assets 2012: $8,076,9372012Assets 2013: $72,654,465Liabilities 2013: $64,572,770Net Assets 2013: $8,081,6952013Assets 2014: $72,092,186Liabilities 2014: $63,784,562Net Assets 2014: $8,307,6242014Assets 2015: $73,735,054Liabilities 2015: $65,367,640Net Assets 2015: $8,367,4142015Assets 2016: $75,924,155Liabilities 2016: $67,356,807Net Assets 2016: $8,567,3482016Assets 2017: $76,510,519Liabilities 2017: $67,822,514Net Assets 2017: $8,688,0052017Assets 2018: $76,115,716Liabilities 2018: $67,124,420Net Assets 2018: $8,991,2962018Assets 2019: $75,145,636Liabilities 2019: $65,917,622Net Assets 2019: $9,228,0142019Assets 2020: $86,872,886Liabilities 2020: $77,308,165Net Assets 2020: $9,564,7212020Assets 2021: $93,168,373Liabilities 2021: $83,043,905Net Assets 2021: $10,124,4682021Assets 2022: $93,824,009Liabilities 2022: $82,871,041Net Assets 2022: $10,952,9682022Assets 2023: $90,277,336Liabilities 2023: $78,848,678Net Assets 2023: $11,428,6582023Assets 2024: $92,188,560Liabilities 2024: $80,218,573Net Assets 2024: $11,969,9872024

Highlighted filing

2015

Assets$73,735,054
Liabilities$65,367,640
Net Assets$8,367,414
Open 2015 Filing

Operations Trend

Revenue Growth52nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0Expenses 2010: $2,800,0442010Expenses 2011: $2,807,0022011Expenses 2012: $2,540,1302012Revenue 2013: $2,465,453Expenses 2013: $2,273,361Net Income 2013: $192,0922013Revenue 2014: $2,455,158Expenses 2014: $2,269,051Net Income 2014: $186,1072014Revenue 2015: $2,501,821Expenses 2015: $2,346,425Net Income 2015: $155,3962015Revenue 2016: $2,591,902Expenses 2016: $2,535,451Net Income 2016: $56,4512016Revenue 2017: $2,774,964Expenses 2017: $2,662,868Net Income 2017: $112,0962017Revenue 2018: $3,136,083Expenses 2018: $2,851,610Net Income 2018: $284,4732018Revenue 2019: $3,295,352Expenses 2019: $3,082,423Net Income 2019: $212,9292019Revenue 2020: $3,139,766Expenses 2020: $2,803,729Net Income 2020: $336,0372020Revenue 2021: $3,183,088Expenses 2021: $2,623,341Net Income 2021: $559,7472021Revenue 2022: $3,726,820Expenses 2022: $2,898,320Net Income 2022: $828,5002022Revenue 2023: $3,875,419Expenses 2023: $3,399,729Net Income 2023: $475,6902023Revenue 2024: $4,537,436Expenses 2024: $3,996,107Net Income 2024: $541,3292024

Highlighted filing

2015

Revenue$2,501,821
Expenses$2,346,425
Net Income$155,396
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 3, 2016
Return Version
2015v2.1
Gross Receipts
$2,501,821
Mission and Program Overview

Mission

Credit Union is a not-for-profit, member-owned financial institution, we work hard to ensure the credit union philosophy of people helping people. We offer a full line of products and services.

Credit union as a not-for-profit, member-owned financial institution, we work hard to ensure the credit union philosophy of people helping people. We offer a full line of products and services using the latest technology and focus on providing prompt, courteous, personalized service.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$33,250,100$34,781,511▲ $1,531,411
Other Notes and Loans Receivable, Net$23,200,797$23,493,602▲ $292,805
Investments Other Securities$10,666,465$10,452,120▼ $214,345
Rtn Earn Endowment Incm Other Fnds$8,307,624$8,367,414▲ $59,790
Prepaid Expenses and Deferred Charges$2,001,765$2,092,253▲ $90,488
Cash and Non-Interest-Bearing Accounts$955,071$823,760▼ $131,311
Land, Buildings, and Equipment, Net$810,351$741,414▼ $68,937
Receivables From Officers Etc$147,688$430,801▲ $283,113
Investments Program Related$227,000$88,000▼ $139,000
Intangible Assets$51,884$42,450▼ $9,434
Total Assets$72,092,186$73,735,054▲ $1,642,868
Other Assets Total$781,065$789,143▲ $8,078
Liabilities
Other Liabilities$63,628,201$65,215,434▲ $1,587,233
Accounts Payable and Accrued Expenses$156,361$152,206▼ $4,155
Total Liabilities$63,784,562$65,367,640▲ $1,583,078
Net Assets / Fund Balance
Total Net Assets Fund Balance$8,307,624$8,367,414▲ $59,790
Total Liabilities and Net Assets / Fund Balance$72,092,186$73,735,054▲ $1,642,868

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$418,771$447,067$865,838
Equipment$130,086$313,109$443,195
Leasehold Improvements$80,640$133,983$214,623
Land$111,917-$111,917
Other Securities$-47,880--
Compensation and Service Providers
Top Officer Pay7th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Catherine BlastickCOO/vice PresidentFT$68,897$8,045$76,942
Charles DonovanDirector/CEO-$57,716$6,303$64,019
Shirley PatellisCCOFT$56,978$6,309$63,287
Charles Donovan--$57,716$3,841$61,557
Scott SheltonCEO/presidentFT$45,635-$45,635

Board Members and Trustees

NameTitle
Jeffrey PerzChairperson
Barry WeissVice Chairperson
Anna OrtegaDirector
Chanda Carey-vickerstaffDirector
Jennifer TriumphDirector
Mitch HershbergerDirector
Ron HarperDirector
Wendy BowlinDirector
Cecelia LarguraSecretary
Stephen GallasTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,219,882
Investment Income
$563,617
Other Revenue
$718,322
Change in Net Assets
$155,396
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,224,789
Salaries, Compensation, and Employee Benefits$1,121,510
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$678,266$0$0$678,266
All Other Expenses$392,268$0$0$392,268
Current Officers, Directors, Trustees, and Key Employees$249,883$0$0$249,883
Occupancy$173,202$0$0$173,202
Interest$136,131$0$0$136,131
Depreciation Depletion$126,804$0$0$126,804
Office Expenses$119,399$0$0$119,399
Fees for Services Other$90,774$0$0$90,774
Payroll Taxes$73,911$0$0$73,911
Other Employee Benefits$71,773$0$0$71,773
Pension Plan Contributions$47,677$0$0$47,677
Insurance$36,520$0$0$36,520
Advertising$31,571$0$0$31,571
Travel$27,406$0$0$27,406
Other Expenses$10,801$0$0$10,801
Conferences and Meetings$4,830$0$0$4,830
Fees for Service Investment Mgmnt Fees$3,968$0$0$3,968
Benefits to Members$126--$126
Total Functional Expenses$2,346,425$0$0$2,346,425
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$147,688$430,801▲ $283,113
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Savings$32,239,196
Money Markets$12,935,291
Share Certificates$9,328,064
Share Drafts$6,541,473
Ira Accounts$3,283,780
Club Accounts$887,630
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 9

“Anna ortega 345 independence dr. Valparaiso in xxx-xx-xxxx mitch hershberger 8038 howard ave munster in 46321 ron harper 757 blue jay ln. Dyer in 46311 jeff perz 9807 buchanan st. Crown point in 46307 wendy bowlin 827 w clark st. Rensselaer in 47948 chanda carey-vickerstaff 9601 buchanan st. Crown point in 46307 barry weiss 10413 sandy ln. Munster in 46321 cecilia largura 705 audubon dr. Valparaiso in 46383 steve gallas 8917 cottage grove pl. Highland in 46322 jennifer triumph 10690 williamsburg t”

Filing and Contact Details

Filer

Filer Name
Members Source Credit Union
EIN
35-0873966
Phone
2197564141
Address
8580 VIRGINIA STREET, MERRILLVILLE, IN 46410-6235

Signing Officer

Name
Scott Shelton
Title
CEO
Phone
2197564141
Signed
2016-05-03
Discuss with paid preparer
Yes

Organization Details

Formed
1935
Legal Domicile
In
Voting Board Members
11
Independent Board Members
11
Employees
31
Volunteers
17

Preparer

Firm
Homer Wilson & Co Ltd
Address
900 RIDGE ROAD SUITE S, MUNSTER, IN 46321-1727
Preparer
Ray Suoranta
Phone
2198364930
Supplemental Narrative

Additional Explanations

Pt VII, Col (E)

“Members of the credit union are considered shareholders”

Pt VI, Line 7A

“Members elect the board of directors at their annual meeting”

Pt VI, Line 11B

“The president reviews prior to filing and it is posted on a secure portal for the board to access. The board reviews at the next board meeting”

Pt VI, Line 15A

“Credit union uses cuna trade salary survey for the executive”

Pt VI, Line 15B

“Salaries and reviews mgmt recommendations for other increases”

Pt VI, Line 19

“Documents are available upon written request”

Pt VI, Line 6

“Each member of the credit union that maintains the minimum balance in their account is a shareholder.”

Pt XI

“The difference of $1.00 is due to rounding”

Form 990, Part IX, Line 24F

“Loan servicing 273565. 273565. 0. 0. Share branch exp 64324. 64324. 0. 0. Cash over/short 33547. 33547. 0. 0. Miscellaneous operating 0. 0. 0. 0. Dfi fee 11000. 11000. 0. 0. Charitable donations 399. 399. 0. 0. Amort of intangible assets 9433. 9433. 0. 0.”

Raw XML AppendixShowing 400 of 657 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR/CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
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IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt1331012
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IRS990/OthNotesLoansReceivableNetGrp/BOYAmt023200797
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IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
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IRS990/PensionPlanContributionsGrp/FundraisingAmt00
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IRS990/PensionPlanContributionsGrp/ProgramServicesAmt047677
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IRS990/PoliciesReferenceChaptersInd0true
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02001765
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02092253
IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0SCOTT SHELTON
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IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/PYExcessBenefitTransInd0false
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IRS990/PYOtherRevenueAmt0690821
IRS990/PYProgramServiceRevenueAmt01227639
IRS990/PYRevenuesLessExpensesAmt0186107
IRS990/PYSalariesCompEmpBnftPaidAmt01089516
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IRS990/PYTotalRevenueAmt02455158
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt0430801
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0true
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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$73,735,054
Liabilities
$65,367,640
Net assets
$8,367,414
Revenue
$2,501,821
Expenses
$2,346,425
Net income
$155,396
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$92.2$80.2$12.0$4.54$4.00$0.54
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$90.3$78.8$11.4$3.88$3.40$0.48
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$93.8$82.9$11.0$3.73$2.90$0.83
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$93.2$83.0$10.1$3.18$2.62$0.56
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$86.9$77.3$9.56$3.14$2.80$0.34
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$75.1$65.9$9.23$3.30$3.08$0.21
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$76.1$67.1$8.99$3.14$2.85$0.28
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$76.5$67.8$8.69$2.77$2.66$0.11
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$75.9$67.4$8.57$2.59$2.54$0.06
2015Detailed filing. Detailed filing data is available for this year.$73.7$65.4$8.37$2.50$2.35$0.16
2014Detailed filing. Detailed filing data is available for this year.$72.1$63.8$8.31$2.46$2.27$0.19
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$72.7$64.6$8.08$2.47$2.27$0.19
2012XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$72.1$64.1$8.08$2.54
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$70.4$62.4$7.96$2.81
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$69.3$61.4$7.91$2.80