Civic Intelligence

Credit Unions Chartered in the State of Michigan

990 • Fiscal year 2017 • EIN 38-1878763

Jan 01, 2017 to Dec 31, 2017 • Filed on Apr 12, 2018

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

21st percentile

0.86x

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

2017 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2017

Liabilities / Revenue

20th percentile

14.07x

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

2017 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2017

Net Margin

57th percentile

13%

Higher net margin than 57% of similar nonprofits.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2017

Top Officer Pay

67th percentile

$246,618

Higher top officer pay than 67% of similar nonprofits.

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

2017 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2017

Asset Growth

40th percentile

3.1%

Faster asset growth than 40% of similar nonprofits.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Revenue Growth

43rd percentile

5.9%

Faster revenue growth than 43% of similar nonprofits.

2017 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets21st percentile

Assets

Up

$167,259,490

Up $5,064,972 (+3.1%) from 2016

Net Assets

Up

$23,708,732

Up $1,415,052 (+6.3%) from 2016

Liabilities

Up

$143,550,758

Up $3,649,920 (+2.6%) from 2016

Revenue And Expenses
Liabilities / Revenue20th percentileNet Margin57th percentile

Revenue

Up

$10,201,615

Up $564,397 (+5.9%) from 2016

Expenses

Up

$8,866,385

Up $1,164,829 (+15%) from 2016

Net Income

Down

$1,335,230

Down $600,432 (-31%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth40th 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

2017

Assets$167,259,490
Liabilities$143,550,758
Net Assets$23,708,732
Open 2017 Filing

Operations Trend

Revenue Growth43rd 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

2017

Revenue$10,201,615
Expenses$8,866,385
Net Income$1,335,230
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Apr 12, 2018
Return Version
2017v2.2
Gross Receipts
$10,201,615
Mission and Program Overview

Mission

Provide financial services and products to members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$98,998,150$107,826,243▲ $8,828,093
Investments in Publicly Traded Securities-$34,079,288-
Rtn Earn Endowment Incm Other Fnds$22,293,680$23,708,732▲ $1,415,052
Savings and Temporary Cash Investments$21,843,601$12,466,444▼ $9,377,157
Land, Buildings, and Equipment, Net$2,453,730$2,378,829▼ $74,901
Cash and Non-Interest-Bearing Accounts$2,144,451$2,076,687▼ $67,764
Investments Other Securities$33,598,064$1,015,041▼ $32,583,023
Prepaid Expenses and Deferred Charges$625,163$813,110▲ $187,947
Intangible Assets-$411,785-
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Inventories for Sale or Use-$0-
Total Assets$162,194,518$167,259,490▲ $5,064,972
Other Assets Total$2,531,359$6,192,063▲ $3,660,704
Liabilities
Other Liabilities$136,924,226$139,473,900▲ $2,549,674
Accounts Payable and Accrued Expenses$2,976,612$4,076,858▲ $1,100,246
Total Liabilities$139,900,838$143,550,758▲ $3,649,920
Net Assets / Fund Balance
Total Net Assets Fund Balance$22,293,680$23,708,732▲ $1,415,052
Total Liabilities and Net Assets / Fund Balance$162,194,518$167,259,490▲ $5,064,972

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,568,725$1,475,084$3,043,809
Other Land Buildings$202,726$861,004$1,063,730
Land$607,378-$607,378
Compensation and Service Providers
Top Officer Pay67th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
John YeomansCEOFT$224,332$22,286$246,618
Robert ShaneChief Operating OfficerFT$111,631$25,754$137,385
Bev Vander WellCFOFT$83,662$11,498$95,160

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
Co-op Financial ServicesCard Services9692 Haven Ave, Rancho Cucamonga, CA 91730$359,650
Priority HealthEmp Health Insurance1231 East Beltline NE, Grand Rapids, MI 49525-4501$288,961
CU AnswersData Processing6000 28 St SE Ste 100, Grand Rapids, MI 49546$265,071
Vantiv HoldingLLCCard Services8500 Governors Hill Dr, Symmers Township, OH 45249$220,906
FIS GlobalCard Services11601 Roosevelt Boulevard St, Petersburg, FL 33716$146,027
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$9,061,741
Investment Income
$973,945
Other Revenue
$165,929
Change in Net Assets
$1,335,230
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,429,903
Salaries, Compensation, and Employee Benefits$3,436,482
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$2,363,065
Office Expenses---$1,963,157
Interest---$385,125
Current Officers, Directors, Trustees, and Key Employees---$341,778
Other Employee Benefits---$326,346
Advertising---$324,972
Occupancy---$323,899
Payroll Taxes---$223,048
Pension Plan Contributions---$182,245
Depreciation Depletion---$176,134
Fees for Services Other---$131,758
All Other Expenses---$99,434
Other Expenses---$89,386
Insurance---$53,033
Conferences and Meetings---$32,090
Fees for Services Accounting---$27,000
Travel---$14,113
Total Functional Expenses$0$0$0$8,866,385
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
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
Deposit Accounts$90,605,678
Share Accounts$48,868,222
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
John Yeomans
Title
CEO
Signed
2018-04-12
Discuss with paid preparer
Yes

Organization Details

Formed
1968
Legal Domicile
Mi
Voting Board Members
11
Independent Board Members
11
Employees
93
Volunteers
9

Preparer

Firm
Financial Standards Group Inc
Address
3615 NEWBURG RD, LOUISVILLE, KY 40218
Preparer
Thomas Armantrout CPA
Phone
8005225820
Raw XML AppendixShowing 400 of 476 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
IRS990/Form990PartVIISectionAGrp/PersonNm7Fred Gradisher
IRS990/Form990PartVIISectionAGrp/PersonNm8Janet Kinyon
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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 Operating Officer
IRS990/Form990ProvidedToGvrnBodyInd0false
IRS990/Form990TFiledInd0true
IRS990/FormationYr01968
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt011
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt00
IRS990/GrantsToDomesticOrgsGrp/TotalAmt00
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt010201615
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt00
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt011
IRS990/IndivRcvdGreaterThan100KCnt02
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/TotalAmt00
IRS990/InsuranceGrp/TotalAmt053033
IRS990/IntangibleAssetsGrp/EOYAmt0411785
IRS990/InterestGrp/TotalAmt0385125
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt0973945
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0973945
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt033598064
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt01015041
IRS990/InvestmentsProgramRelatedGrp/EOYAmt00
IRS990/InvestmentsPubTradedSecGrp/EOYAmt034079288
IRS990/InvestTaxExemptBondsInd0false
IRS990/IRPDocumentCnt03302
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt02336088
IRS990/LandBldgEquipBasisNetGrp/BOYAmt02453730
IRS990/LandBldgEquipBasisNetGrp/EOYAmt02378829
IRS990/LandBldgEquipCostOrOtherBssAmt04714917
IRS990/LegalDomicileStateCd0MI
IRS990/LicensedMoreThanOneStateInd0false
IRS990/LoanOutstandingInd0false
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/NetAssetsOrFundBalancesBOYAmt022293680
IRS990/NetAssetsOrFundBalancesEOYAmt023708732
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetUnrelatedBusTxblIncmAmt013324
IRS990/NetUnrlzdGainsLossesInvstAmt079822
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt0323899
IRS990/OfficeExpensesGrp/TotalAmt01963157
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/BOYAmt02531359
IRS990/OtherAssetsTotalGrp/EOYAmt06192063
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0326346
IRS990/OtherExpensesGrp/Desc0Provision for Loan Losses
IRS990/OtherExpensesGrp/Desc1Loan Servicing Expense
IRS990/OtherExpensesGrp/Desc2Core Deposit Intangible Amrt
IRS990/OtherExpensesGrp/Desc3Postage and Shipping
IRS990/OtherExpensesGrp/TotalAmt01173767
IRS990/OtherExpensesGrp/TotalAmt1471321
IRS990/OtherExpensesGrp/TotalAmt2164714
IRS990/OtherExpensesGrp/TotalAmt389386
IRS990/OtherLiabilitiesGrp/BOYAmt0136924226
IRS990/OtherLiabilitiesGrp/EOYAmt0139473900
IRS990/OtherRevenueMiscGrp/BusinessCd0524298
IRS990/OtherRevenueMiscGrp/BusinessCd1525990
IRS990/OtherRevenueMiscGrp/BusinessCd2525990
IRS990/OtherRevenueMiscGrp/Desc0Insurance Revenue
IRS990/OtherRevenueMiscGrp/Desc1Non-Member ATM Fees
IRS990/OtherRevenueMiscGrp/Desc2Other Operating Income
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0115422
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt115881
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0137841
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt112207
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt215881
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt022419
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt112207
IRS990/OtherRevenueTotalAmt0165929
IRS990/OtherSalariesAndWagesGrp/TotalAmt02363065
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt098998150
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0107826243
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt0223048
IRS990/PensionPlanContributionsGrp/TotalAmt0182245
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliciesReferenceChaptersInd0true
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0625163
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0813110
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1522210
IRS990/ProgramServiceRevenueGrp/BusinessCd2522100
IRS990/ProgramServiceRevenueGrp/BusinessCd3522100
IRS990/ProgramServiceRevenueGrp/Desc0Income from Fines
IRS990/ProgramServiceRevenueGrp/Desc1Interchange Income
IRS990/ProgramServiceRevenueGrp/Desc2Interest on Loans
IRS990/ProgramServiceRevenueGrp/Desc3Other Fees and Charges
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0137425
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11097764
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt25592221
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt32234331
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0137425
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11097764
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt25592221
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt32234331
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 12/31/2017 was 17,263.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt0933781
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt04469661
IRS990/PYOtherRevenueAmt020083
IRS990/PYProgramServiceRevenueAmt08683354
IRS990/PYRevenuesLessExpensesAmt01935662
IRS990/PYSalariesCompEmpBnftPaidAmt03231895
IRS990/PYTotalExpensesAmt07701556
IRS990/PYTotalRevenueAmt09637218
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt01335230
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt022293680
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt023708732
IRS990/SavingsAndTempCashInvstGrp/BOYAmt021843601
IRS990/SavingsAndTempCashInvstGrp/EOYAmt012466444
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01568725
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01475084
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03043809
IRS990ScheduleD/LandGrp/BookValueAmt0607378
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0607378
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0202726
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0861004
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt01063730
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt090605678
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt148868222
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Deposit Accounts
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Share Accounts
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02378829
IRS990ScheduleD/TotalLiabilityAmt0139473900
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0224332
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt017442
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt04844
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0John Yeomans
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0246618
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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Executive and employee salaries are Board reviewed and approved. Board of directors are not compensated
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Credit 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.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$167,259,490
Liabilities
$143,550,758
Net assets
$23,708,732
Revenue
$10,201,615
Expenses
$8,866,385
Net income
$1,335,230
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