Civic Intelligence

Members Source Credit Union

990 • Fiscal year 2024 • EIN 35-0873966

Jan 01, 2024 to Dec 31, 2024 • Filed on Aug 19, 2025

Organization Profilewww.ms-cu.com

View Organization Page

8580 Virginia StreetMerrillville, IN 46410

(219) 765-4141

Siviq Scores

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

Liabilities / Assets

43rd percentile

0.87x

Higher debt load relative to assets than 43% of similar nonprofits.

2024 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

75th percentile

17.68x

Higher debt load relative to revenue than 75% of similar nonprofits.

2024 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2024

Net Margin

47th percentile

12%

Higher net margin than 47% of similar nonprofits.

2024 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

5th percentile

$0

Higher top officer pay than 5% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2024 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2024

Asset Growth

57th percentile

2.1%

Faster asset growth than 57% of similar nonprofits.

2024 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

67th percentile

17%

Faster revenue growth than 67% of similar nonprofits.

2024 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets43rd percentile

Assets

Up

$92,188,560

Up $1,911,224 (+2.1%) from 2023

Net Assets

Up

$11,969,987

Up $541,329 (+4.7%) from 2023

Liabilities

Up

$80,218,573

Up $1,369,895 (+1.7%) from 2023

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin47th percentile

Revenue

Up

$4,537,436

Up $662,017 (+17%) from 2023

Expenses

Up

$3,996,107

Up $596,378 (+18%) from 2023

Net Income

Up

$541,329

Up $65,639 (+14%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth57th 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

2024

Assets$92,188,560
Liabilities$80,218,573
Net Assets$11,969,987
Open 2024 Filing

Operations Trend

Revenue Growth67th 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

2024

Revenue$4,537,436
Expenses$3,996,107
Net Income$541,329
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Aug 19, 2025
Return Version
2024v5.2
Gross Receipts
$4,537,436
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$48,978,177$50,031,894▲ $1,053,717
Investments in Publicly Traded Securities-$30,787,000-
Rtn Earn Endowment Incm Other Fnds$11,428,658$11,969,987▲ $541,329
Savings and Temporary Cash Investments$33,693,852$4,128,011▼ $29,565,841
Investments Other Securities$3,886,004$3,554,583▼ $331,421
Land, Buildings, and Equipment, Net$1,781,683$1,666,568▼ $115,115
Cash and Non-Interest-Bearing Accounts$457,728$483,170▲ $25,442
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$90,277,336$92,188,560▲ $1,911,224
Other Assets Total$1,479,892$1,537,334▲ $57,442
Liabilities
Other Liabilities$78,322,892$79,920,474▲ $1,597,582
Accounts Payable and Accrued Expenses$525,786$298,099▼ $227,687
Total Liabilities$78,848,678$80,218,573▲ $1,369,895
Net Assets / Fund Balance
Total Net Assets Fund Balance$11,428,658$11,969,987▲ $541,329
Total Liabilities and Net Assets / Fund Balance$90,277,336$92,188,560▲ $1,911,224

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,497,535$788,902$2,286,437
Equipment$57,116$295,592$352,708
Land$111,917-$111,917
Compensation and Service Providers
Top Officer Pay5th percentile

Board Members and Trustees

NameTitle
Jeff PerzChairman
Barry WeissDirector
Don TokolyDirector
Gina SmithDirector
Jim JuarezDirector
Mitch HershbergerDirector
Ronald HarperDirector
Tom PyshDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,369,603
Investment Income
$1,167,833
Other Revenue
$0
Change in Net Assets
$541,329
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,628,540
Salaries, Compensation, and Employee Benefits$1,367,567
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,083,652--$1,083,652
Office Expenses$374,967--$374,967
Fees for Services Other$311,068--$311,068
Occupancy$282,646--$282,646
Depreciation Depletion$121,092--$121,092
Other Employee Benefits$101,172--$101,172
Pension Plan Contributions$95,045--$95,045
Payroll Taxes$87,698--$87,698
Advertising$81,413--$81,413
Information Technology$60,073--$60,073
All Other Expenses$33,871--$33,871
Insurance$30,678--$30,678
Travel$28,363--$28,363
Other Expenses$26,049--$26,049
Fees for Service Investment Mgmnt Fees$7,001--$7,001
Conferences and Meetings$6,820--$6,820
Interest$1,043--$1,043
Total Functional Expenses$3,996,107$0$0$3,996,107
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member shares$79,920,474
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 6

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

Form 990, Part VI, Section A, line 7A

“Members elect the Board of Directors at their annual meeting.”

Form 990, Part VI, Section B, line 11B

“The form 990 is provided via discussion at a Board meeting.”

Form 990, Part VI, Section B, line 12C

“A conflict of interest statement is included with the Oath of Officers which is signed by all volunteers annually.”

Form 990, Part VI, Section B, line 15

“Credit Union uses CUNA trade salary survey for the executive salaries and reviews management recommendations for other increases.”

Form 990, Part VI, Section C, line 19

“Documents are available upon written request.”

Filing and Contact Details

Filer

Filer Name
Members Source Credit Union
EIN
35-0873966
Phone
2197654141
Address
8580 Virginia Street, Merrillville, IN 46410

Signing Officer

Name
James Falls
Title
CEO
Phone
2197654141
Signed
2025-08-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Falls
Formed
1935
Legal Domicile
In
Voting Board Members
9
Independent Board Members
9
Employees
29
Volunteers
15

Preparer

Firm
Eifel Rambo Advisory Group Ltd
Address
20635 Abbey Woods Ct Suite 301, Frankfort, IL 60423
Preparer
Matt Beckley
Phone
7086282365
Raw XML Appendix372 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.

Path#Value
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IRS990/AdvertisingGrp/ProgramServicesAmt081413
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IRS990/PYProgramServiceRevenueAmt03027429
IRS990/PYRevenuesLessExpensesAmt0475690
IRS990/PYSalariesCompEmpBnftPaidAmt01303774
IRS990/PYTotalExpensesAmt03399729
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03875419
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0541329
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt011428658
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt011969987
IRS990/SavingsAndTempCashInvstGrp/BOYAmt033693852
IRS990/SavingsAndTempCashInvstGrp/EOYAmt04128011
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt01497535
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0788902
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02286437
IRS990ScheduleD/EquipmentGrp/BookValueAmt057116
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0295592
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0352708
IRS990ScheduleD/LandGrp/BookValueAmt0111917
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0111917
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt079920474
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Member shares
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01666568
IRS990ScheduleD/TotalLiabilityAmt079920474
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Each member of the Credit Union that maintains the minimum balance in their account is a shareholder.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Members elect the Board of Directors at their annual meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The form 990 is provided via discussion at a Board meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A conflict of interest statement is included with the Oath of Officers which is signed by all volunteers annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Credit Union uses CUNA trade salary survey for the executive salaries and reviews management recommendations for other increases.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Documents are available upon written request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt090277336
IRS990/TotalAssetsEOYAmt092188560
IRS990/TotalAssetsGrp/BOYAmt090277336
IRS990/TotalAssetsGrp/EOYAmt092188560
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt029
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03996107
IRS990/TotalFunctionalExpensesGrp/TotalAmt03996107
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt078848678
IRS990/TotalLiabilitiesEOYAmt080218573
IRS990/TotalLiabilitiesGrp/BOYAmt078848678
IRS990/TotalLiabilitiesGrp/EOYAmt080218573
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt011428658
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt011969987
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt03369603
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt01167833
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03369603
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04537436
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt015
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt090277336
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt092188560
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt028363
IRS990/TravelGrp/TotalAmt028363
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt08580 Virginia Street
IRS990/USAddress/CityNm0Merrillville
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd046410
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0www.ms-cu.com
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0James Falls
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum02197654141
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-08-19
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Members Source Credit Union
ReturnHeader/Filer/BusinessNameControlTxt0MEMB
ReturnHeader/Filer/EIN0350873966
ReturnHeader/Filer/PhoneNum02197654141
ReturnHeader/Filer/USAddress/AddressLine1Txt08580 Virginia Street
ReturnHeader/Filer/USAddress/CityNm0Merrillville
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd046410
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0931743146
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Eifel Rambo Advisory Group Ltd
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt020635 Abbey Woods Ct Suite 301
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Frankfort
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060423
ReturnHeader/PreparerPersonGrp/PhoneNum07086282365
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Matt Beckley
ReturnHeader/ReturnTs02025-09-10T15:55:59-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

Document Assets

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Filings

Displayed year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$92,188,560
Liabilities
$80,218,573
Net assets
$11,969,987
Revenue
$4,537,436
Expenses
$3,996,107
Net income
$541,329
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
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