Civic Intelligence

Tech Credit Union

990 • Fiscal year 2016 • EIN 35-0885375

Jan 01, 2016 to Dec 31, 2016 • Filed on Mar 27, 2017

Organization Profilewww.techcu.org

View Organization Page

10951 broadwaycrown point, IN 46307-1727

(219) 663-5120

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.92x

Higher debt load relative to assets than 93% of similar nonprofits.

2016 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2016

Liabilities / Revenue

81st percentile

22.27x

Higher debt load relative to revenue than 81% of similar nonprofits.

2016 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2016

Net Margin

13th percentile

4.9%

Higher net margin than 13% of similar nonprofits.

2016 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2016

Top Officer Pay

21st percentile

$287,643

Higher top officer pay than 21% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2016 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2016

Asset Growth

34th percentile

4.7%

Faster asset growth than 34% of similar nonprofits.

2016 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2015 to 2016

Revenue Growth

17th percentile

2.6%

Faster revenue growth than 17% of similar nonprofits.

2016 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$346,316,433

Up $15,468,001 (+4.7%) from 2015

Net Assets

Up

$27,345,616

Up $557,326 (+2.1%) from 2015

Liabilities

Up

$318,970,817

Up $14,910,675 (+4.9%) from 2015

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin13th percentile

Revenue

Up

$14,321,695

Up $362,751 (+2.6%) from 2015

Expenses

Up

$13,617,003

Up $718,487 (+5.6%) from 2015

Net Income

Down

$704,692

Down $355,736 (-34%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth34th percentile

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

$600M$400M$200M$0Assets 2010: $283,484,571Liabilities 2010: $259,556,466Net Assets 2010: $23,928,1052010Assets 2011: $294,603,795Liabilities 2011: $269,963,194Net Assets 2011: $24,640,6012011Assets 2012: $310,700,667Liabilities 2012: $285,053,389Net Assets 2012: $25,647,2782012Assets 2013: $320,353,160Liabilities 2013: $294,282,697Net Assets 2013: $26,070,4632013Assets 2014: $321,489,659Liabilities 2014: $295,647,228Net Assets 2014: $25,842,4312014Assets 2015: $330,848,432Liabilities 2015: $304,060,142Net Assets 2015: $26,788,2902015Assets 2016: $346,316,433Liabilities 2016: $318,970,817Net Assets 2016: $27,345,6162016Assets 2017: $356,935,538Liabilities 2017: $328,302,095Net Assets 2017: $28,633,4432017Assets 2018: $360,917,214Liabilities 2018: $329,354,588Net Assets 2018: $31,562,6262018Assets 2021: $509,548,706Liabilities 2021: $470,386,395Net Assets 2021: $39,162,3112021Assets 2022: $536,572,543Liabilities 2022: $495,053,216Net Assets 2022: $41,519,3272022Assets 2023: $527,252,079Liabilities 2023: $479,256,849Net Assets 2023: $47,995,2302023Assets 2024: $542,967,604Liabilities 2024: $495,707,773Net Assets 2024: $47,259,8312024

Highlighted filing

2016

Assets$346,316,433
Liabilities$318,970,817
Net Assets$27,345,616
Open 2016 Filing

Operations Trend

Revenue Growth17th percentile

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

$40M$30M$20M$10M$0-$10MExpenses 2010: $15,073,6092010Expenses 2011: $12,941,0882011Expenses 2012: $12,855,0702012Revenue 2013: $13,556,381Expenses 2013: $13,132,965Net Income 2013: $423,4162013Revenue 2014: $13,462,407Expenses 2014: $13,698,561Net Income 2014: -$236,1542014Revenue 2015: $13,958,944Expenses 2015: $12,898,516Net Income 2015: $1,060,4282015Revenue 2016: $14,321,695Expenses 2016: $13,617,003Net Income 2016: $704,6922016Revenue 2017: $14,937,838Expenses 2017: $13,796,508Net Income 2017: $1,141,3302017Revenue 2018: $17,272,387Expenses 2018: $14,245,724Net Income 2018: $3,026,6632018Revenue 2021: $20,890,462Expenses 2021: $18,440,676Net Income 2021: $2,449,7862021Revenue 2022: $23,189,269Expenses 2022: $20,696,239Net Income 2022: $2,493,0302022Revenue 2023: $33,400,748Expenses 2023: $26,556,412Net Income 2023: $6,844,3362023Revenue 2024: $29,777,395Expenses 2024: $30,672,003Net Income 2024: -$894,6082024

Highlighted filing

2016

Revenue$14,321,695
Expenses$13,617,003
Net Income$704,692
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Mar 27, 2017
Return Version
2016v3.0
Gross Receipts
$22,786,703
Mission and Program Overview

Mission

To provide services that enable our members to achieve a lifetime of financial success.

To promote thrift and provide low cost loans to members. This is accomplished on a co-operative basis for the mutual benefit of those within the membership.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$210,303,999$231,287,517▲ $20,983,518
Investments Other Securities$63,867,517$64,716,768▲ $849,251
Rtn Earn Endowment Incm Other Fnds$26,788,290$27,345,616▲ $557,326
Savings and Temporary Cash Investments$28,003,379$21,538,354▼ $6,465,025
Land, Buildings, and Equipment, Net$9,580,714$9,104,032▼ $476,682
Cash and Non-Interest-Bearing Accounts$6,029,694$2,655,778▼ $3,373,916
Prepaid Expenses and Deferred Charges$643,650$753,155▲ $109,505
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$330,848,432$346,316,433▲ $15,468,001
Other Assets Total$12,419,479$16,260,829▲ $3,841,350
Liabilities
Other Liabilities$301,654,521$316,215,586▲ $14,561,065
Accounts Payable and Accrued Expenses$2,405,621$2,755,231▲ $349,610
Total Liabilities$304,060,142$318,970,817▲ $14,910,675
Net Assets / Fund Balance
Total Net Assets Fund Balance$26,788,290$27,345,616▲ $557,326
Total Liabilities and Net Assets / Fund Balance$330,848,432$346,316,433▲ $15,468,001

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,906,478$4,170,963$10,077,441
Equipment$677,900$4,539,533$5,217,433
Land$2,519,654-$2,519,654
Other Securities$3,799,323--
Compensation and Service Providers
Top Officer Pay21st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michael HusseyPresident / CEOFT$230,962$56,681$287,643
Richard LundstromExecutive Vice PresidentFT$143,140$42,400$185,540
Michael CaseyVP of FinanceFT$132,490$40,155$172,645
Richard SimagaDirector of Commercial LendingFT$100,449$36,938$137,387
Mary Jo DuncanVice President of LendingFT$108,115$23,042$131,157
Larry SchafferVice President of MarketinFT$103,942$18,884$122,826
Edward PetyoTreasurer-$1,800-$1,800
Joe MacharaChairperson-$1,800-$1,800
Patricia Cordray1st Vice Chairperson-$1,800-$1,800
Walter GarbarczykDirector-$1,800-$1,800
Christine AthertonDirector-$1,650-$1,650
James Mack2nd Vice Chairperson-$1,650-$1,650
Lisa BeckSecretary-$1,500-$1,500
Richard YoungDirector-$1,500-$1,500
John LewersDirector - Part Year-$300-$300

Highest Paid Contractors

ContractorServicesLocationCompensation
FiservInformation Technology255 fiserv dr, brookfield, WI 53045$771,086
Digital InsightDigital Banking Solutions1300 seaport blvd, redwood city, CA 94063$565,323
At&tCommunications208 s akard st, dallas, TX 75202$161,128
Comcast CorporationCommunications1701 jfk blvd, philadelphia, PA 19103$132,584
Chester INCInformation Technology555 eastport centre dr, valparaiso, IN 46383$122,617
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$13,353,134
Investment Income
$968,561
Other Revenue
$0
Change in Net Assets
$704,692
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,407,461
Salaries, Compensation, and Employee Benefits$6,209,542
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$4,104,488
Interest---$1,202,697
Other Employee Benefits---$800,450
Occupancy---$694,979
Current Officers, Directors, Trustees, and Key Employees---$645,828
Depreciation Depletion---$614,712
Office Expenses---$500,586
Information Technology---$452,649
Pension Plan Contributions---$336,530
Payroll Taxes---$322,246
Advertising---$303,341
Other Expenses---$239,265
Fees for Services Other---$92,958
Fees for Services Accounting---$37,746
Fees for Services Legal---$36,397
All Other Expenses---$16,740
Total Functional Expenses$0$0$0$13,617,003
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
Members' shares and savings$316,215,586
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 6

“A member is defined as any individual or business that has loan or deposit accounts at the credit union.”

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

“Major decisions, such as whether or not to merge into another credit union, would require ratification by the membership to be approved.”

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

“Management reviews form 990 before it is filed with the irs. Board does not review the form 990 before filing.”

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

“All board members and executive staff complete a conflict of interest statement on an annual basis. The credit union's internal auditor reviews these statements to ensure completion and compliance. In the event a conflict is identified, the board member will be absent from all discussions, recommendations, determinations and decisions regarding the matter.”

Form 990, Part VI, Section B, line 15

“Compensation is determined as part of each individuals' annual review. The compensation amounts are included in the budget that is approved by the board of directors.”

Form 990, Part VI, Section C, line 19

“The credit union's governing documents are on file with the indiana secretary of state's office. A copy of these documents can be obtained through this office. The credit union's financial statements are on display in the lobby of the credit union's home office. The credit union's conflict of interest policy is not made available to the general public.”

Filing and Contact Details

Filer

Filer Name
Tech Credit Union
EIN
35-0885375
Phone
2196635120
Address
10951 broadway, crown point, IN 46307-1727

Signing Officer

Name
Michael M Hussey
Title
President & CEO
Phone
2196635120
Signed
2017-03-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael M Hussey
Formed
1936
Legal Domicile
In
Voting Board Members
8
Independent Board Members
8
Employees
133
Volunteers
0

Preparer

Firm
Plante & Moran Pllc
Address
511 Renaissance Dr Ste 120, St Joseph, MI 49085
Preparer
Kenley Penner CPA
Phone
2699828000
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

“Net unrealized loss on Defined benefit pension plan -31,857.”

Form 990, Part XII, Line 2C:

“This process has not changed significantly from the prior year. The credit union's supervisory committee assumes responsibility for oversight of the audit and selection of the independant accountant.”

Raw XML AppendixShowing 400 of 583 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/TitleTxt1SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt31ST VICE CHAIRPERSON
IRS990/Form990PartVIISectionAGrp/TitleTxt42ND VICE CHAIRPERSON
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR - PART YEAR
IRS990/Form990PartVIISectionAGrp/TitleTxt9PRESIDENT / CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt10EXECUTIVE VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt11VP OF FINANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt12Vice President of Marketin
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIR. OF COMMERCIAL LENDING
IRS990/Form990PartVIISectionAGrp/TitleTxt14VICE PRESIDENT OF LENDING
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IRS990/IRPDocumentW2GCnt00
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IRS990/LandBldgEquipBasisNetGrp/BOYAmt09580714
IRS990/LandBldgEquipBasisNetGrp/EOYAmt09104032
IRS990/LandBldgEquipCostOrOtherBssAmt017814528
IRS990/LegalDomicileStateCd0IN
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt0152795
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt08276740
IRS990/LessRentalExpensesGrp/RealAmt035473
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IRS990/MembersOrStockholdersInd01
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IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO PROVIDE SERVICES THAT ENABLE OUR MEMBERS TO ACHIEVE A LIFETIME OF FINANCIAL SUCCESS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0104665
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt0694979
IRS990/OfficeExpensesGrp/TotalAmt0500586
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt012419479
IRS990/OtherAssetsTotalGrp/EOYAmt016260829
IRS990/OtherChangesInNetAssetsAmt0-31857
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0800450
IRS990/OtherExpensesGrp/Desc0Operations
IRS990/OtherExpensesGrp/Desc1Provision for Loan Loss
IRS990/OtherExpensesGrp/Desc2Loan Servicing Expense
IRS990/OtherExpensesGrp/Desc3Service Center Fees
IRS990/OtherExpensesGrp/TotalAmt02046841
IRS990/OtherExpensesGrp/TotalAmt1858877
IRS990/OtherExpensesGrp/TotalAmt2309673
IRS990/OtherExpensesGrp/TotalAmt3239265
IRS990/OtherLiabilitiesGrp/BOYAmt0301654521
IRS990/OtherLiabilitiesGrp/EOYAmt0316215586
IRS990/OtherSalariesAndWagesGrp/TotalAmt04104488
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0210303999
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0231287517
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IRS990/PayrollTaxesGrp/TotalAmt0322246
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IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0643650
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0753155
IRS990/PrincipalOfficerNm0Michael M Hussey
IRS990/PriorPeriodAdjustmentsAmt0-220174
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1522100
IRS990/ProgramServiceRevenueGrp/Desc0Loan Interest
IRS990/ProgramServiceRevenueGrp/Desc1FEES AND CHARGES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt08968694
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt14384440
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt08968694
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt14384440
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IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01126282
IRS990/PYOtherExpensesAmt06999779
IRS990/PYOtherRevenueAmt037154
IRS990/PYProgramServiceRevenueAmt012795508
IRS990/PYRevenuesLessExpensesAmt01060428
IRS990/PYSalariesCompEmpBnftPaidAmt05898737
IRS990/PYTotalExpensesAmt012898516
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt013958944
IRS990/ReconcilationRevenueExpnssAmt0704692
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IRS990/ReportLandBuildingEquipmentInd01
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IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt04170963
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt010077441
IRS990ScheduleD/EquipmentGrp/BookValueAmt0677900
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04539533
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt05217433
IRS990ScheduleD/LandGrp/BookValueAmt02519654
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02519654
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0316215586
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Members' shares and savings
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IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt11370912
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt29628533
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt33799323
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Certificates of deposit
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Investment in Subsidiary
IRS990ScheduleD/OtherSecuritiesGrp/Desc2NCUA Guaranteed Notes
IRS990ScheduleD/OtherSecuritiesGrp/Desc3MORTGAGE-BACKED SECURITIES
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1C
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IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd3F
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IRS990ScheduleD/TotalBookValueSecuritiesAmt064716768
IRS990ScheduleD/TotalLiabilityAmt0316215586
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IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt2132490
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount06053
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount11292
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount23543
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$346,316,433
Liabilities
$318,970,817
Net assets
$27,345,616
Revenue
$14,321,695
Expenses
$13,617,003
Net income
$704,692
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$543$496$47.3$29.8$30.7$0.89
2023Detailed filing. Detailed filing data is available for this year.$527$479$48.0$33.4$26.6$6.84
2022Detailed filing. Detailed filing data is available for this year.$537$495$41.5$23.2$20.7$2.49
2021Detailed filing. Detailed filing data is available for this year.$510$470$39.2$20.9$18.4$2.45
2018Detailed filing. Detailed filing data is available for this year.$361$329$31.6$17.3$14.2$3.03
2017Detailed filing. Detailed filing data is available for this year.$357$328$28.6$14.9$13.8$1.14
2016Detailed filing. Detailed filing data is available for this year.$346$319$27.3$14.3$13.6$0.70
2015Detailed filing. Detailed filing data is available for this year.$331$304$26.8$14.0$12.9$1.06
2014Detailed filing. Detailed filing data is available for this year.$321$296$25.8$13.5$13.7$0.24
2013Detailed filing. Detailed filing data is available for this year.$320$294$26.1$13.6$13.1$0.42
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$311$285$25.6$12.9
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$295$270$24.6$12.9
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$283$260$23.9$15.1