Civic Intelligence

Crane Credit Union

990 • Fiscal year 2019 • EIN 35-0978599

Jan 01, 2019 to Dec 31, 2019 • Filed on May 19, 2020

Organization ProfileWWW.CRANECU.ORG

View Organization Page

1 W Gate DriveOdon, IN 47562

(812) 863-7115

Siviq Scores

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

Liabilities / Assets

20th percentile

0.86x

Higher debt load relative to assets than 20% of similar nonprofits.

2019 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2019

Liabilities / Revenue

56th percentile

16.67x

Higher debt load relative to revenue than 56% of similar nonprofits.

2019 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2019

Net Margin

84th percentile

22%

Higher net margin than 84% of similar nonprofits.

2019 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2019

Top Officer Pay

12th percentile

$258,425

Higher top officer pay than 12% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2019 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2019

Asset Growth

39th percentile

5.2%

Faster asset growth than 39% of similar nonprofits.

2019 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2018 to 2019

Revenue Growth

67th percentile

12%

Faster revenue growth than 67% of similar nonprofits.

2019 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets20th percentile

Assets

Up

$618,553,934

Up $30,822,259 (+5.2%) from 2018

Net Assets

Up

$87,721,686

Up $7,548,345 (+9.4%) from 2018

Liabilities

Up

$530,832,248

Up $23,273,914 (+4.6%) from 2018

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin84th percentile

Revenue

Up

$31,846,292

Up $3,292,492 (+12%) from 2018

Expenses

Up

$24,994,277

Up $2,804,398 (+13%) from 2018

Net Income

Up

$6,852,015

Up $488,094 (+7.7%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth39th percentile

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

$1.5B$1.0B$500M$0Assets 2018: $587,731,675Liabilities 2018: $507,558,334Net Assets 2018: $80,173,3412018Assets 2019: $618,553,934Liabilities 2019: $530,832,248Net Assets 2019: $87,721,6862019Assets 2020: $853,062,698Liabilities 2020: $756,909,887Net Assets 2020: $96,152,8112020Assets 2021: $926,412,870Liabilities 2021: $826,526,441Net Assets 2021: $99,886,4292021Assets 2022: $1,017,070,436Liabilities 2022: $927,894,843Net Assets 2022: $89,175,5932022Assets 2023: $1,044,861,009Liabilities 2023: $946,633,146Net Assets 2023: $98,227,8632023Assets 2024: $1,047,751,007Liabilities 2024: $934,893,379Net Assets 2024: $112,857,6282024

Highlighted filing

2019

Assets$618,553,934
Liabilities$530,832,248
Net Assets$87,721,686
Open 2019 Filing

Operations Trend

Revenue Growth67th percentile

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

$80M$60M$40M$20M$0Revenue 2018: $28,553,800Expenses 2018: $22,189,879Net Income 2018: $6,363,9212018Revenue 2019: $31,846,292Expenses 2019: $24,994,277Net Income 2019: $6,852,0152019Revenue 2020: $32,248,747Expenses 2020: $25,863,728Net Income 2020: $6,385,0192020Revenue 2021: $35,778,555Expenses 2021: $26,474,331Net Income 2021: $9,304,2242021Revenue 2022: $40,555,341Expenses 2022: $30,013,057Net Income 2022: $10,542,2842022Revenue 2023: $51,840,440Expenses 2023: $41,076,541Net Income 2023: $10,763,8992023Revenue 2024: $61,770,995Expenses 2024: $49,565,326Net Income 2024: $12,205,6692024

Highlighted filing

2019

Revenue$31,846,292
Expenses$24,994,277
Net Income$6,852,015
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 19, 2020
Return Version
2019v5.0
Gross Receipts
$55,296,469
Mission and Program Overview

Mission

Cooperatively promote member thrift by providing financial services and benefits for our membership.

Promote thrift, provide credit at competitive rates, and provide financial services to members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$448,053,419$465,731,256▲ $17,677,837
Rtn Earn Endowment Incm Other Fnds$80,173,341$87,721,686▲ $7,548,345
Investments in Publicly Traded Securities$72,183,413$66,124,218▼ $6,059,195
Savings and Temporary Cash Investments$27,894,538$50,737,060▲ $22,842,522
Land, Buildings, and Equipment, Net$9,840,601$9,912,430▲ $71,829
Cash and Non-Interest-Bearing Accounts$4,962,843$5,627,129▲ $664,286
Pledges and Grants Receivable$1,320,380$1,352,135▲ $31,755
Prepaid Expenses and Deferred Charges$586,840$431,712▼ $155,128
Receivable From Disqualified Prsn$351,555$218,646▼ $132,909
Accounts Receivable$394,988$204,165▼ $190,823
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Loans From Officers Directors$0$0→ $0
Total Assets$587,731,675$618,553,934▲ $30,822,259
Other Assets Total$22,143,098$18,215,183▼ $3,927,915
Liabilities
Other Liabilities$460,117,814$508,030,682▲ $47,912,868
Mortgage Notes Payable Secured by Investment Property$43,500,000$19,000,000▼ $24,500,000
Accounts Payable and Accrued Expenses$3,393,707$3,201,481▼ $192,226
Escrow Account Liability$546,813$600,085▲ $53,272
Total Liabilities$507,558,334$530,832,248▲ $23,273,914
Net Assets / Fund Balance
Total Net Assets Fund Balance$80,173,341$87,721,686▲ $7,548,345
Total Liabilities and Net Assets / Fund Balance$587,731,675$618,553,934▲ $30,822,259

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,854,939$7,268,816$13,123,755
Equipment$1,564,417$8,056,186$9,620,603
Land$2,493,074-$2,493,074
Leasehold Improvements$0$320,186$320,186
Compensation and Service Providers
Top Officer Pay12th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
-Chief Executive Officer, PresidentFT$173,180$85,245$258,425
-Chief Financial OfficerFT$111,934$71,392$183,326
-COOFT$110,558$45,532$156,090
-Corporate AttorneyFT$135,374$10,677$146,051
-Vice Chairman-$21,725-$21,725
-Chairman-$20,275-$20,275
-Treasurer-$19,425-$19,425
-Secretary-$18,350-$18,350
-Director-$16,250-$16,250

Highest Paid Contractors

ContractorServicesLocationCompensation
Dei IncorporatedBuilding Design Services1550 Kemper Meadow Drive, Cincinnati, OH 45240$570,104
Jack Henry And AssociatesCore Banking System663 W HIGHWAY 60, Monett, MO 65708$374,819
Access SoftekElectronic Banking727 ALSTON WAY, Berkeley, CA 94710$262,157
QsiAtm107 Schuler Dr, Bardstown, KY 40004$255,146
WindstreamCommunication Provider4001 N RODNEY PARHAM RD, Little Rock, AR 72212$210,323
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$29,167,951
Investment Income
$2,232,452
Other Revenue
$445,889
Change in Net Assets
$6,852,015
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$16,512,366
Salaries, Compensation, and Employee Benefits$8,470,911
Grants and Similar Amounts Paid$11,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$5,805,552
Interest---$4,066,404
Depreciation Depletion---$1,692,209
Occupancy---$1,386,986
Other Employee Benefits---$1,207,004
Fees for Services Other$0$0$0$950,860
Advertising---$798,742
All Other Expenses$0$0$0$791,854
Other Expenses---$741,738
Current Officers, Directors, Trustees, and Key Employees---$579,801
Payroll Taxes---$455,129
Office Expenses---$440,298
Pension Plan Contributions---$423,425
Insurance---$211,479
Information Technology---$144,836
Fees for Services Accounting---$101,739
Travel---$84,298
Fees for Services Legal---$37,169
Grants to Domestic Individuals---$11,000
Total Functional Expenses$0$0$0$24,994,277
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons$351,555$218,646▼ $132,909
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
MEMBERS' SHARES$508,030,682
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 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
No
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, Line 15B PROCESS TO ESTABLISH COMPENSATION OF OTHER EMPLOYEES

“The President/CEO determines the compensation of the other employee(s) of the organization. Compensation is reviewed annually.”

Form 990, Part VI, Line 6 Classes of members or stockholders

“The credit union has members.”

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

“Each member is entitled to one vote on all matters brought to vote at the annual meeting.”

Form 990, Part VI, Line 7B Decisions requiring approval by members or stockholders

“Membership vote is required for mergers and charter conversions.”

Form 990, Part VI, Line 11B Review of form 990 by governing body

“FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM, THEN REVIEWED BY THE CREDIT UNION'S CFO AND PRESIDENT prior to filing with the IRS.”

Form 990, Part VI, Line 12C Conflict of interest policy

“The organization's officers, directors, and all employees are required to annually disclose any actual or potential conflicts of interest they may have with the organization. If there is a known conflict, that individual is restricted from performing transactions on certain accounts. If a conflict arises with a board member, the respective board member will abstain from any related discussion, vote, or similar action on the matter.”

Form 990, Part VI, Line 15A Process to establish compensation of top management official

“The board of directors reviews and approves the president/CEO's compensation annually. Human Resources uses a system called Compease to gather data from other institutions to determine the President/CEO's compensation based on a range from comparable organizations. This process is documented in board minutes.”

Form 990, Part VI, Line 19 Required documents available to the public

“The credit union's governing documents and conflict of interest policy are not made available to the public. Financial statements are posted quarterly in credit union branches.”

Filing and Contact Details

Filer

Filer Name
Crane Credit Union
EIN
35-0978599
Phone
8128637115
Address
1 W GATE DRIVE, ODON, IN 47562

Signing Officer

Name
Kevin Sparks
Title
CEO
Signed
2020-05-19
Discuss with paid preparer
Yes

Organization Details

Formed
1955
Legal Domicile
In
Voting Board Members
7
Independent Board Members
7
Employees
177
Volunteers
0

Preparer

Firm
Crowe Llp
Address
225 West Wacker Drive Suite 2600, Chicago, IL 60606-1224
Preparer
Nicole Bencik
Phone
3128997000
Supplemental Narrative

Financial Statement Notes

Schedule D, Part IV, Line 2B Explanation of escrow agreement

“The credit union maintains escrow accounts for property taxes and insurance for member loans.”

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

“THE CREDIT UNION IS STATE CHARTERED AND FEDERALLY TAX-EXEMPT UNDER INTERNAL REVENUE CODE 501(C)(14), EXCEPT TO THE EXTENT OF UNRELATED BUSINESS INCOME. UNRELATED BUSINESS INCOME TAX IS INSIGNIFICANT AND NO TAX PROVISION HAS BEEN MADE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. THE CREDIT UNION'S WHOLLY OWNED SUBSIDIARIES ARE DISREGARDED ENTITIES FOR TAX PURPOSES AND ARE THEREFORE NOT SUBJECT TO FEDERAL INCOME TAX. The Credit Union may recognize a liability for unrecognized tax benefits from uncertain tax positions. Unrecognized tax benefits represent the differences between a tax position taken or expected to be taken in a tax return and the benefit recognized and measured in the consolidated financial statements. Interest and penalties related to unrecognized tax benefits are classified as income tax expense. The Credit Union had no unrecognized tax benefits at December 31, 2019 and 2018.”

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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/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/TitleTxt0VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7CHIEF EXECUTIVE OFFICER, PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt8CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt9CORPORATE ATTORNEY
IRS990/Form990PartVIISectionAGrp/TitleTxt10COO
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IRS990/GainOrLossGrp/SecuritiesAmt0-20743
IRS990/GamingActivitiesInd0false
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IRS990/GrantsToDomesticIndividualsGrp/TotalAmt011000
IRS990/GrantsToIndividualsInd0true
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
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IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt021608681
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IRS990/IncludeFIN48FootnoteInd0true
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IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/TotalAmt0144836
IRS990/InsuranceGrp/TotalAmt0211479
IRS990/InterestGrp/TotalAmt04066404
IRS990/InvestmentIncomeGrp/ExclusionAmt02377212
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt02377212
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IRS990/InvestmentsPubTradedSecGrp/EOYAmt066124218
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IRS990/LandBldgEquipCostOrOtherBssAmt025557618
IRS990/LegalDomicileStateCd0IN
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IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt021629424
IRS990/LessRentalExpensesGrp/RealAmt049125
IRS990/LoanOutstandingInd0true
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IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
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IRS990/MissionDesc0COOPERATIVELY PROMOTE MEMBER THRIFT BY PROVIDING FINANCIAL SERVICES AND BENEFITS FOR OUR MEMBERSHIP.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
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IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt019000000
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IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-144760
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt051534
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt051534
IRS990/NetUnrelatedBusTxblIncmAmt029451
IRS990/NetUnrlzdGainsLossesInvstAmt0696330
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt01386986
IRS990/OfficeExpensesGrp/TotalAmt0440298
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
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IRS990/OtherAssetsTotalGrp/EOYAmt018215183
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt01207004
IRS990/OtherExpensesGrp/Desc0LOAN SERVICING EXPENSE
IRS990/OtherExpensesGrp/Desc1DATA PROCESSING FEES
IRS990/OtherExpensesGrp/Desc2PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc3EDUCATION AND PROMOTION
IRS990/OtherExpensesGrp/TotalAmt02028946
IRS990/OtherExpensesGrp/TotalAmt11901973
IRS990/OtherExpensesGrp/TotalAmt21132835
IRS990/OtherExpensesGrp/TotalAmt3741738
IRS990/OtherLiabilitiesGrp/BOYAmt0460117814
IRS990/OtherLiabilitiesGrp/EOYAmt0508030682
IRS990/OtherRevenueMiscGrp/BusinessCd0522100
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IRS990/OtherRevenueMiscGrp/Desc0LIFE INSURANCE CSV
IRS990/OtherRevenueMiscGrp/Desc1SHARED BRANCHING
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0272793
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0272793
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1121562
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt0121562
IRS990/OtherRevenueTotalAmt0394355
IRS990/OtherSalariesAndWagesGrp/TotalAmt05805552
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0448053419
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0465731256
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/TotalAmt0455129
IRS990/PensionPlanContributionsGrp/TotalAmt0423425
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt01320380
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01352135
IRS990/PoliciesReferenceChaptersInd0true
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0586840
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0431712
IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0KEVIN SPARKS
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0522130
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IRS990/ProgramServiceRevenueGrp/BusinessCd4522130
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST ON LOANS
IRS990/ProgramServiceRevenueGrp/Desc1INTERCHANGE ON INCOME
IRS990/ProgramServiceRevenueGrp/Desc2SERVICE CHARGES & FEES
IRS990/ProgramServiceRevenueGrp/Desc3OTHER NON-INTEREST INCOME
IRS990/ProgramServiceRevenueGrp/Desc4LOAN FEES AND CHARGES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt022733858
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt13975929
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt21394158
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3565705
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt4385429
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt022733858
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt13975929
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt21480868
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3591867
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt4385429
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt086710
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt126162
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt011000
IRS990/PYInvestmentIncomeAmt02447478
IRS990/PYOtherExpensesAmt013744632
IRS990/PYOtherRevenueAmt0430511
IRS990/PYProgramServiceRevenueAmt025675811
IRS990/PYRevenuesLessExpensesAmt06363921
IRS990/PYSalariesCompEmpBnftPaidAmt08434247
IRS990/PYTotalExpensesAmt022189879
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt028553800
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt0351555
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt0218646
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt06852015
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt051534
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt080173341
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt087721686
IRS990/SavingsAndTempCashInvstGrp/BOYAmt027894538
IRS990/SavingsAndTempCashInvstGrp/EOYAmt050737060
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/AgentTrusteeEtcInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt05854939
IRS990ScheduleD/BuildingsGrp/DepreciationAmt07268816
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt013123755
IRS990ScheduleD/EquipmentGrp/BookValueAmt01564417
IRS990ScheduleD/EquipmentGrp/DepreciationAmt08056186
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt09620603
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0true
IRS990ScheduleD/LandGrp/BookValueAmt02493074
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02493074
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
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IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0320186
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0508030682
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBERS' SHARES
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION MAINTAINS ESCROW ACCOUNTS FOR PROPERTY TAXES AND INSURANCE FOR MEMBER LOANS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE CREDIT UNION IS STATE CHARTERED AND FEDERALLY TAX-EXEMPT UNDER INTERNAL REVENUE CODE 501(C)(14), EXCEPT TO THE EXTENT OF UNRELATED BUSINESS INCOME. UNRELATED BUSINESS INCOME TAX IS INSIGNIFICANT AND NO TAX PROVISION HAS BEEN MADE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. THE CREDIT UNION'S WHOLLY OWNED SUBSIDIARIES ARE DISREGARDED ENTITIES FOR TAX PURPOSES AND ARE THEREFORE NOT SUBJECT TO FEDERAL INCOME TAX. The Credit Union may recognize a liability for unrecognized tax benefits from uncertain tax positions. Unrecognized tax benefits represent the differences between a tax position taken or expected to be taken in a tax return and the benefit recognized and measured in the consolidated financial statements. Interest and penalties related to unrecognized tax benefits are classified as income tax expense. The Credit Union had no unrecognized tax benefits at December 31, 2019 and 2018.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part IV, Line 2b Explanation of escrow agreement
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt09912430
IRS990ScheduleD/TotalLiabilityAmt0508030682
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt011000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt011
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0SCHOLARSHIP FINALISTS WILL BE CHOSEN BY A SCHOLARSHIP COMMITTEE AND APPROVED BY THE BOARD OF DIRECTORS. APPLICANTS WILL BE JUDGED ON THE FOLLOWING: APPLICATION 30%, ACADEMIC PROFILE 10%, ESSAY 60%.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds.
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1111934
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt2110558
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount07000

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$618,553,934
Liabilities
$530,832,248
Net assets
$87,721,686
Revenue
$31,846,292
Expenses
$24,994,277
Net income
$6,852,015
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1,048$935$113$61.8$49.6$12.2
2023Detailed filing. Detailed filing data is available for this year.$1,045$947$98.2$51.8$41.1$10.8
2022Detailed filing. Detailed filing data is available for this year.$1,017$928$89.2$40.6$30.0$10.5
2021Detailed filing. Detailed filing data is available for this year.$926$827$99.9$35.8$26.5$9.30
2020Detailed filing. Detailed filing data is available for this year.$853$757$96.2$32.2$25.9$6.39
2019Detailed filing. Detailed filing data is available for this year.$619$531$87.7$31.8$25.0$6.85
2018Detailed filing. Detailed filing data is available for this year.$588$508$80.2$28.6$22.2$6.36