Civic Intelligence

Credit Unions Chartered in the State of Michigan

990 • Fiscal year 2016 • EIN 38-1878763

Jan 01, 2016 to Dec 31, 2016 • Filed on May 01, 2017

Organization Profilepreferredcu.org
3767 Sparks Drive SEGrand Rapids, MI 49546

(616) 942-9630

Siviq Scores

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

Liabilities / Assets

22nd percentile

0.86x

Higher debt load relative to assets than 22% of similar nonprofits.

2016 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2016

Liabilities / Revenue

21st percentile

14.52x

Higher debt load relative to revenue than 21% of similar nonprofits.

2016 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2016

Net Margin

87th percentile

20%

Higher net margin than 87% of similar nonprofits.

2016 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2016

Top Officer Pay

62nd percentile

$226,721

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 2.4% of source-year revenue.

2016 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2016

Asset Growth

12th percentile

-0.1%

Faster asset growth than 12% of similar nonprofits.

2016 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Revenue Growth

34th percentile

3.5%

Faster revenue growth than 34% of similar nonprofits.

2016 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets22nd percentile

Assets

Down

$162,194,518

Down $132,680 (-0.1%) from 2015

Net Assets

Up

$22,293,680

Up $1,595,256 (+7.7%) from 2015

Liabilities

Down

$139,900,838

Down $1,727,936 (-1.2%) from 2015

Revenue And Expenses
Liabilities / Revenue21st percentileNet Margin87th percentile

Revenue

Up

$9,637,218

Up $322,322 (+3.5%) from 2015

Expenses

Up

$7,701,556

Up $145,184 (+1.9%) from 2015

Net Income

Up

$1,935,662

Up $177,138 (+10%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth12th percentile

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

$300M$200M$100M$0Assets 2010: $73,346,614Liabilities 2010: $49,275,219Net Assets 2010: $24,071,3952010Assets 2011: $79,298,659Liabilities 2011: $70,380,199Net Assets 2011: $8,918,4602011Assets 2012: $88,573,528Liabilities 2012: $78,460,572Net Assets 2012: $10,112,9562012Assets 2014: $153,958,913Liabilities 2014: $134,959,318Net Assets 2014: $18,999,5952014Assets 2015: $162,327,198Liabilities 2015: $141,628,774Net Assets 2015: $20,698,4242015Assets 2016: $162,194,518Liabilities 2016: $139,900,838Net Assets 2016: $22,293,6802016Assets 2017: $167,259,490Liabilities 2017: $143,550,758Net Assets 2017: $23,708,7322017Assets 2018: $169,072,057Liabilities 2018: $143,689,312Net Assets 2018: $25,382,7452018Assets 2019: $179,278,471Liabilities 2019: $150,679,996Net Assets 2019: $28,598,4752019Assets 2020: $221,706,455Liabilities 2020: $190,963,209Net Assets 2020: $30,743,2462020Assets 2021: $256,758,284Liabilities 2021: $225,581,197Net Assets 2021: $31,177,0872021Assets 2022: $259,754,679Liabilities 2022: $235,216,574Net Assets 2022: $24,538,1052022Assets 2023: $268,549,688Liabilities 2023: $238,530,802Net Assets 2023: $30,018,8862023Assets 2024: $289,414,543Liabilities 2024: $255,113,903Net Assets 2024: $34,300,6402024

Highlighted filing

2016

Assets$162,194,518
Liabilities$139,900,838
Net Assets$22,293,680
Open 2016 Filing

Operations Trend

Revenue Growth34th percentile

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

$20M$15M$10M$5.0M$0Expenses 2010: $5,120,5122010Expenses 2011: $4,673,5892011Expenses 2012: $4,298,9112012Revenue 2014: $8,651,641Expenses 2014: $7,299,923Net Income 2014: $1,351,7182014Revenue 2015: $9,314,896Expenses 2015: $7,556,372Net Income 2015: $1,758,5242015Revenue 2016: $9,637,218Expenses 2016: $7,701,556Net Income 2016: $1,935,6622016Revenue 2017: $10,201,615Expenses 2017: $8,866,385Net Income 2017: $1,335,2302017Revenue 2018: $11,044,848Expenses 2018: $9,018,605Net Income 2018: $2,026,2432018Revenue 2019: $11,868,278Expenses 2019: $9,595,139Net Income 2019: $2,273,1392019Revenue 2020: $11,490,837Expenses 2020: $10,278,993Net Income 2020: $1,211,8442020Revenue 2021: $12,104,204Expenses 2021: $9,832,169Net Income 2021: $2,272,0352021Revenue 2022: $13,405,718Expenses 2022: $10,625,196Net Income 2022: $2,780,5222022Revenue 2023: $15,755,243Expenses 2023: $12,971,096Net Income 2023: $2,784,1472023Revenue 2024: $18,475,658Expenses 2024: $15,678,436Net Income 2024: $2,797,2222024

Highlighted filing

2016

Revenue$9,637,218
Expenses$7,701,556
Net Income$1,935,662
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 1, 2017
Return Version
2016v3.0
Gross Receipts
$9,637,218
Mission and Program Overview

Mission

Provide financial services and products to members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$90,206,380$98,998,150▲ $8,791,770
Investments Other Securities$50,134,056$33,598,064▼ $16,535,992
Rtn Earn Endowment Incm Other Fnds$20,698,424$22,293,680▲ $1,595,256
Savings and Temporary Cash Investments$14,233,934$21,843,601▲ $7,609,667
Land, Buildings, and Equipment, Net$1,820,994$2,453,730▲ $632,736
Cash and Non-Interest-Bearing Accounts$2,564,897$2,144,451▼ $420,446
Prepaid Expenses and Deferred Charges$537,858$625,163▲ $87,305
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$162,327,198$162,194,518▼ $132,680
Other Assets Total$2,829,079$2,531,359▼ $297,720
Liabilities
Other Liabilities$134,760,876$136,924,226▲ $2,163,350
Accounts Payable and Accrued Expenses$6,867,898$2,976,612▼ $3,891,286
Total Liabilities$141,628,774$139,900,838▼ $1,727,936
Net Assets / Fund Balance
Total Net Assets Fund Balance$20,698,424$22,293,680▲ $1,595,256
Total Liabilities and Net Assets / Fund Balance$162,327,198$162,194,518▼ $132,680

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$723,637$992,579$1,716,216
Leasehold Improvements$882,351$380,357$1,262,708
Other Land Buildings$240,362$809,128$1,049,490
Land$607,380-$607,380
Equipment-$1$1
Compensation and Service Providers
Top Officer Pay62nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
John YeomansCEOFT$210,382$16,339$226,721
Robert ShaneChief Operations OfficerFT$107,316$8,575$115,891
Bev Vander WellCFOFT$78,437$6,240$84,677

Board Members and Trustees

NameTitle
Russ HermanChairman
Yvonne AllesVice Chair
Fred GradisherDirector
Frederick BartlingDirector
Janet KinyonDirector
Thomas PowersDirector
Vicki BrownDirector
Jack GreinerSecretary
Gaylen DemarestTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Member Driven TechnologiesData Processing7415 Chicago Road, Warren, MI 48092$842,634
Co-op Financial ServicesCard Services9692 Haven Ave, Rancho Cucamonga, CA 91730$367,218
Vantiv HoldingLLCCard Services8500 Governors Hill Dr, Symmers Township, OH 45249$295,268
Priority HealthEmp Health Insurance1231 East Beltline NE, Grand Rapids, MI 49525-4501$284,172
CU AnswersData Processing6000 28 St SE Ste 100, Grand Rapids, MI 49546$83,350
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$8,683,354
Investment Income
$933,781
Other Revenue
$20,083
Change in Net Assets
$1,935,662
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,469,661
Salaries, Compensation, and Employee Benefits$3,231,895
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses---$2,252,200
Other Salaries and Wages---$2,133,082
Current Officers, Directors, Trustees, and Key Employees---$427,289
Interest---$402,558
Other Employee Benefits---$305,345
Advertising---$299,704
Depreciation Depletion---$268,777
Payroll Taxes---$214,379
Pension Plan Contributions---$151,800
Other Expenses---$130,636
Travel---$92,999
Occupancy---$52,888
All Other Expenses---$6,433
Total Functional Expenses$0$0$0$7,701,556
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 Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Deposits$91,234,480
Member Shares$45,689,746
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
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“Section 501c(14) Credit Union is composed of members.”

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

“Members vote on bylaw and charter changes. Members vote and elect Board members at annual meeting.”

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

“Mergers are voted on by entire membership.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Management reviews tax returns and forwards US Form 8879-EO to tax preparer. Board reviews filed tax returns at next scheduled meeting.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Employee loans are Management approved. Management loans are Board approved. Loans to Board members are approved by the Board minus the lendee.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Executive and employee salaries are Board reviewed and approved. Board of directors are not compensated”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Credit union bylaws and conflict of interest policy are available upon request at the credit union's main office. Quarterly financial statements are displayed in the lobby which is accessible to the general public. Quarterly financial performance (Call) reports are also available at www.ncua.gov for all federally insured credit unions.”

Filing and Contact Details

Filer

Filer Name
Preferred Credit Union
EIN
38-1878763
Phone
6169429630
Address
3767 Sparks Drive SE, Grand Rapids, MI 49546

Signing Officer

Name
Bev Vander Well
Title
CFO
Signed
2017-05-01
Discuss with paid preparer
Yes

Organization Details

Formed
1968
Legal Domicile
Mi
Voting Board Members
9
Independent Board Members
9
Employees
88
Volunteers
9

Preparer

Firm
Financial Standards Group Inc
Address
3615 NEWBURG RD, LOUISVILLE, KY 40218
Preparer
Robert Draeger
Phone
8005225820
Supplemental Narrative

Additional Explanations

Form 990 page 1 B Name Change

“Known as Grand Valley Co-Op Credit Union through June 30, 2013, the Credit Union changed its name to Preferred Credit Union as of July 1, 2013.”

Raw XML AppendixShowing 400 of 482 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/PersonNm3Gaylen Demarest
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IRS990/Form990PartVIISectionAGrp/PersonNm5Thomas Powers
IRS990/Form990PartVIISectionAGrp/PersonNm6Vicki Brown
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/TitleTxt0Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt1Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt2Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt10CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt11Chief Operations Officer
IRS990/Form990ProvidedToGvrnBodyInd0false
IRS990/Form990TFiledInd0true
IRS990/FormationYr01968
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt09
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt00
IRS990/GrantsToDomesticOrgsGrp/TotalAmt00
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt09637218
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt00
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt09
IRS990/IndivRcvdGreaterThan100KCnt02
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/TotalAmt00
IRS990/InsuranceGrp/TotalAmt00
IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/TotalAmt0402558
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt0933781
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0933781
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt050134056
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt033598064
IRS990/InvestmentsProgramRelatedGrp/EOYAmt00
IRS990/InvestmentsPubTradedSecGrp/EOYAmt00
IRS990/InvestTaxExemptBondsInd0false
IRS990/IRPDocumentCnt03522
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt02182065
IRS990/LandBldgEquipBasisNetGrp/BOYAmt01820994
IRS990/LandBldgEquipBasisNetGrp/EOYAmt02453730
IRS990/LandBldgEquipCostOrOtherBssAmt04635795
IRS990/LegalDomicileStateCd0MI
IRS990/LicensedMoreThanOneStateInd0false
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0true
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0Provide financial services and products to members.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt020698424
IRS990/NetAssetsOrFundBalancesEOYAmt022293680
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetUnrelatedBusTxblIncmAmt0-12908
IRS990/NetUnrlzdGainsLossesInvstAmt0-340406
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt052888
IRS990/OfficeExpensesGrp/TotalAmt02252200
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/BOYAmt02829079
IRS990/OtherAssetsTotalGrp/EOYAmt02531359
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0305345
IRS990/OtherExpensesGrp/Desc0Loan Servicing Expense
IRS990/OtherExpensesGrp/Desc1Provision for Loan Losses
IRS990/OtherExpensesGrp/Desc2Other Misc Operating Expenses
IRS990/OtherExpensesGrp/Desc3Professional Services
IRS990/OtherExpensesGrp/TotalAmt0463461
IRS990/OtherExpensesGrp/TotalAmt1289032
IRS990/OtherExpensesGrp/TotalAmt2210973
IRS990/OtherExpensesGrp/TotalAmt3130636
IRS990/OtherLiabilitiesGrp/BOYAmt0134760876
IRS990/OtherLiabilitiesGrp/EOYAmt0136924226
IRS990/OtherRevenueMiscGrp/BusinessCd0524298
IRS990/OtherRevenueMiscGrp/BusinessCd1525990
IRS990/OtherRevenueMiscGrp/Desc0Insurance Revenue
IRS990/OtherRevenueMiscGrp/Desc1Non-Member ATM Fees
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt010495
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt19588
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt010495
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt19588
IRS990/OtherRevenueTotalAmt020083
IRS990/OtherSalariesAndWagesGrp/TotalAmt02133082
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt090206380
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt098998150
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt0214379
IRS990/PensionPlanContributionsGrp/TotalAmt0151800
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliciesReferenceChaptersInd0true
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0537858
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0625163
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1522100
IRS990/ProgramServiceRevenueGrp/BusinessCd2522100
IRS990/ProgramServiceRevenueGrp/BusinessCd3522210
IRS990/ProgramServiceRevenueGrp/Desc0Income from Fines
IRS990/ProgramServiceRevenueGrp/Desc1Interest on Loans
IRS990/ProgramServiceRevenueGrp/Desc2Other Fees and Charges
IRS990/ProgramServiceRevenueGrp/Desc3Visa Interchange Income
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0107965
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt15288138
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt21940057
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt31347194
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0107965
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt15288138
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt21940057
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt31347194
IRS990/ProgSrvcAccomActy2Grp/Desc0The Credit Union provides a variety of loans to members including real estate, credit card, vehicle and other. The total number of loans outstanding at 12/31/2016 was 16,651.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0987559
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt04737614
IRS990/PYOtherRevenueAmt046967
IRS990/PYProgramServiceRevenueAmt08280370
IRS990/PYRevenuesLessExpensesAmt01758524
IRS990/PYSalariesCompEmpBnftPaidAmt02818758
IRS990/PYTotalExpensesAmt07556372
IRS990/PYTotalRevenueAmt09314896
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt01935662
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt020698424
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt022293680
IRS990/SavingsAndTempCashInvstGrp/BOYAmt014233934
IRS990/SavingsAndTempCashInvstGrp/EOYAmt021843601
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0723637
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0992579
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01716216
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01
IRS990ScheduleD/LandGrp/BookValueAmt0607380
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0607380
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0882351
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0380357
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt01262708
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0240362
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0809128
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt01049490
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt091234480
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt145689746
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Member Deposits
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Member Shares
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02453730
IRS990ScheduleD/TotalBookValueSecuritiesAmt033598064
IRS990ScheduleD/TotalLiabilityAmt0136924226
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0210382
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt016339
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0John Yeomans
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0226721
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Section 501c(14) Credit Union is composed of members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Members vote on bylaw and charter changes. Members vote and elect Board members at annual meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Mergers are voted on by entire membership.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Management reviews tax returns and forwards US Form 8879-EO to tax preparer. Board reviews filed tax returns at next scheduled meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Employee loans are Management approved. Management loans are Board approved. Loans to Board members are approved by the Board minus the lendee.

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$162,194,518
Liabilities
$139,900,838
Net assets
$22,293,680
Revenue
$9,637,218
Expenses
$7,701,556
Net income
$1,935,662
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$289$255$34.3$18.5$15.7$2.80
2023Detailed filing. Detailed filing data is available for this year.$269$239$30.0$15.8$13.0$2.78
2022Detailed filing. Detailed filing data is available for this year.$260$235$24.5$13.4$10.6$2.78
2021Detailed filing. Detailed filing data is available for this year.$257$226$31.2$12.1$9.83$2.27
2020Detailed filing. Detailed filing data is available for this year.$222$191$30.7$11.5$10.3$1.21
2019Detailed filing. Detailed filing data is available for this year.$179$151$28.6$11.9$9.60$2.27
2018Detailed filing. Detailed filing data is available for this year.$169$144$25.4$11.0$9.02$2.03
2017Detailed filing. Detailed filing data is available for this year.$167$144$23.7$10.2$8.87$1.34
2016Detailed filing. Detailed filing data is available for this year.$162$140$22.3$9.64$7.70$1.94
2015Detailed filing. Detailed filing data is available for this year.$162$142$20.7$9.31$7.56$1.76
2014Detailed filing. Detailed filing data is available for this year.$154$135$19.0$8.65$7.30$1.35
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$88.6$78.5$10.1$4.30
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$79.3$70.4$8.92$4.67
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$73.3$49.3$24.1$5.12