Civic Intelligence

Employees Credit Union

990 • Fiscal year 2021 • EIN 42-0772828

Jan 01, 2021 to Dec 31, 2021 • Filed on May 07, 2022

Organization ProfileWWW.EMPLOYEESCU.COM

Refreshing map…

2714 Central AveEstherville, IA 51334

(712) 362-5897

Siviq Scores

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

Liabilities / Assets

9th percentile

0.80x

Higher debt load relative to assets than 9% of similar nonprofits.

2021 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2021

Liabilities / Revenue

38th percentile

20.07x

Higher debt load relative to revenue than 38% of similar nonprofits.

2021 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2021

Net Margin

99th percentile

49%

Higher net margin than 99% of similar nonprofits.

2021 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2021

Top Officer Pay

88th percentile

$312,574

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 5.8% of source-year revenue.

2021 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2021

Asset Growth

85th percentile

15%

Faster asset growth than 85% of similar nonprofits.

2021 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Revenue Growth

25th percentile

-3.7%

Faster revenue growth than 25% of similar nonprofits.

2021 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets9th percentile

Assets

Up

$136,420,831

Up $17,962,767 (+15%) from 2020

Net Assets

Up

$27,840,447

Up $2,626,298 (+10%) from 2020

Liabilities

Up

$108,580,384

Up $15,336,469 (+16%) from 2020

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin99th percentile

Revenue

Down

$5,411,301

Down $208,367 (-3.7%) from 2020

Expenses

Down

$2,785,003

Down $437,222 (-14%) from 2020

Net Income

Up

$2,626,298

Up $228,855 (+9.5%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth85th percentile

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

$200M$150M$100M$50M$0Assets 2011: $74,783,256Liabilities 2011: $63,293,028Net Assets 2011: $11,490,2282011Assets 2013: $79,022,782Liabilities 2013: $65,332,038Net Assets 2013: $13,690,7442013Assets 2014: $83,723,629Liabilities 2014: $68,806,035Net Assets 2014: $14,917,5942014Assets 2015: $85,982,836Liabilities 2015: $69,463,347Net Assets 2015: $16,519,4892015Assets 2016: $89,808,852Liabilities 2016: $71,664,233Net Assets 2016: $18,144,6192016Assets 2017: $93,937,316Liabilities 2017: $74,152,832Net Assets 2017: $19,784,4842017Assets 2018: $97,494,304Liabilities 2018: $76,387,841Net Assets 2018: $21,106,4632018Assets 2019: $105,357,507Liabilities 2019: $82,540,801Net Assets 2019: $22,816,7062019Assets 2020: $118,458,064Liabilities 2020: $93,243,915Net Assets 2020: $25,214,1492020Assets 2021: $136,420,831Liabilities 2021: $108,580,384Net Assets 2021: $27,840,4472021Assets 2022: $147,822,214Liabilities 2022: $117,637,107Net Assets 2022: $30,185,1072022Assets 2024: $174,076,159Liabilities 2024: $139,587,351Net Assets 2024: $34,488,8082024

Highlighted filing

2021

Assets$136,420,831
Liabilities$108,580,384
Net Assets$27,840,447
Open 2021 Filing

Operations Trend

Revenue Growth25th percentile

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

$15M$10M$5.0M$0Expenses 2011: $2,050,9592011Revenue 2013: $3,156,470Expenses 2013: $1,937,979Net Income 2013: $1,218,4912013Revenue 2014: $3,397,296Expenses 2014: $2,170,446Net Income 2014: $1,226,8502014Revenue 2015: $3,634,208Expenses 2015: $2,032,313Net Income 2015: $1,601,8952015Revenue 2016: $3,882,752Expenses 2016: $2,257,622Net Income 2016: $1,625,1302016Revenue 2017: $4,300,269Expenses 2017: $2,660,404Net Income 2017: $1,639,8652017Revenue 2018: $4,772,825Expenses 2018: $3,450,846Net Income 2018: $1,321,9792018Revenue 2019: $5,485,363Expenses 2019: $3,775,122Net Income 2019: $1,710,2412019Revenue 2020: $5,619,668Expenses 2020: $3,222,225Net Income 2020: $2,397,4432020Revenue 2021: $5,411,301Expenses 2021: $2,785,003Net Income 2021: $2,626,2982021Revenue 2022: $6,217,747Expenses 2022: $3,873,087Net Income 2022: $2,344,6602022Revenue 2024: $10,760,989Expenses 2024: $8,456,816Net Income 2024: $2,304,1732024

Highlighted filing

2021

Revenue$5,411,301
Expenses$2,785,003
Net Income$2,626,298
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 7, 2022
Return Version
2021v4.0
Gross Receipts
$5,411,301
Mission and Program Overview

Mission

State chartered credit union

To be our members optimum service center for their financial needs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$62,880,825$67,081,705▲ $4,200,880
Savings and Temporary Cash Investments$26,265,405$45,382,243▲ $19,116,838
Rtn Earn Endowment Incm Other Fnds$25,214,149$27,840,447▲ $2,626,298
Investments Program Related$27,136,058$21,813,776▼ $5,322,282
Land, Buildings, and Equipment, Net$650,566$616,290▼ $34,276
Cash and Non-Interest-Bearing Accounts$320,893$249,494▼ $71,399
Prepaid Expenses and Deferred Charges$22,033$45,767▲ $23,734
Total Assets$118,458,064$136,420,831▲ $17,962,767
Other Assets Total$1,182,284$1,231,556▲ $49,272
Liabilities
Other Liabilities$92,919,786$108,236,199▲ $15,316,413
Accounts Payable and Accrued Expenses$175,926$180,280▲ $4,354
Escrow Account Liability$148,203$163,905▲ $15,702
Total Liabilities$93,243,915$108,580,384▲ $15,336,469
Net Assets / Fund Balance
Total Net Assets Fund Balance$25,214,149$27,840,447▲ $2,626,298
Total Liabilities and Net Assets / Fund Balance$118,458,064$136,420,831▲ $17,962,767

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$475,977$596,361$1,072,338
Equipment$53,970$797,912$851,882
Land$86,343-$86,343
Investment Program Related Org$35,433--
Compensation and Service Providers
Top Officer Pay88th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mark PetersCEOFT$195,996$116,578$312,574
Laurel HashLoan ManagerFT$106,963$19,626$126,589

Board Members and Trustees

NameTitle
Charlie NourseBoard Chair
Edward MunnVice Chair
Dan JondleDirector
Danny HoffmanDirector
Jeanne HandelandDirector
Justine ChrestiansenDirector
Sheila BorchersDirector
Terry ClarkDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Co-op Financial ServicesCard Processing1500 NW 118TH ST, Des Moines, IA 50325$178,295
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,778,778
Investment Income
$632,523
Other Revenue
$0
Change in Net Assets
$2,626,298
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,604,719
Salaries, Compensation, and Employee Benefits$1,174,534
Grants and Similar Amounts Paid$5,750
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$530,851
Office Expenses---$437,845
Current Officers, Directors, Trustees, and Key Employees---$352,959
Other Expenses---$263,000
Other Employee Benefits---$153,250
Pension Plan Contributions---$73,600
Depreciation Depletion---$65,424
Payroll Taxes---$63,874
Occupancy---$55,246
Fees for Services Accounting---$40,668
Information Technology---$34,097
Insurance---$21,562
Advertising---$15,193
Grants to Domestic Individuals---$3,000
Grants to Domestic Orgs---$2,750
Conferences and Meetings---$2,510
Total Functional Expenses$0$0$0$2,785,003
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
Member Deposits$108,017,287
457 Plan$382,817
Escrow Accts to Line 21 Bal Sheet$-163,905
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“The organization has members. To be a member one must have a share (savings) account at the credit union.”

Form 990, Page 6, Part VI, Line 7A

“The board of directors is elected by the credit union members. Each member has one vote.”

Form 990, Page 6, Part VI, Line 7B

“A member vote is required for decisions which are beyond the authority of the board of directors. Items which require a membership vote are outlined and specified in our bylaws. Each member has one vote.”

Form 990, Page 6, Part VI, Line 11B

“Ceo provides data to independent cpa who prepares the return. Ceo reviews the return for accuracy, and then authorizes cpa to e-file approved return. Management then informs board of directors it is available for review.”

Form 990, Page 6, Part VI, Line 12C

“Conflict of interest policy is signed by the directors.”

Form 990, Page 6, Part VI, Line 15A

“Compensation committee comprised of elected directors determines and approves the ceo compensation. Committee uses peer data / salary survey as part of the process. Approval by the board is documented.”

Form 990, Page 6, Part VI, Line 15B

“Ceo recommends wages of all other employees to board of directors for approval. The board approval is documented.”

Form 990, Page 6, Part VI, Line 19

“Governing documents and conflict of interest policy available upon member request. Financial statements are posted in the lobby.”

Filing and Contact Details

Filer

Filer Name
Employees Credit Union
EIN
42-0772828
Phone
7123625897
Address
2714 CENTRAL AVE, ESTHERVILLE, IA 51334

Signing Officer

Name
Mark Peters
Title
CEO
Phone
7123625897
Signed
2022-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Peters
Formed
1947
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
8
Employees
14
Volunteers
8

Preparer

Firm
Brent Wookey CPA
Address
PO BOX 1512, LA CROSSE, WI 54602-1512
Preparer
Brent Wookey CPA
Phone
6087920843
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 2B

“The credit union holds funds in escrow accounts for property taxes and homeowners insurance related to mortgage loans.”

Raw XML AppendixShowing 400 of 411 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/ProgSrvcAccomActy2Grp/Desc0THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 5,835 NEW LOANS DURING 2021. AS OF 12/31/21 WE HAD 5,485 OUTSTANDING LOANS RECEIVABLE.
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0797912
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt335433
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0INVESTMENTS WITH MATURITY > 1 YR
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1CBL CUSO REVOLVING LOAN
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2CAPITAL ACCTS CORPORATE CREDIT UNION
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3CBL CUSO EQUITY
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd2C
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt086343
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0108017287
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1382817
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2-163905
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1457 PLAN
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ESCROW ACCTS TO LINE 21 BAL SHEET
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION HOLDS FUNDS IN ESCROW ACCOUNTS FOR PROPERTY TAXES AND HOMEOWNERS INSURANCE RELATED TO MORTGAGE LOANS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART IV, LINE 2B
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0616290
IRS990ScheduleD/TotalBookValueProgramRltdAmt021813776
IRS990ScheduleD/TotalLiabilityAmt0108236199
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IRS990ScheduleJ/ClubDuesOrFeesInd0X
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount015000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt035000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt036947
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt029631
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt035000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0MARK PETERS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0312574
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IRS990ScheduleJ/SubstantiationRequiredInd0true
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0MARK PETERS 0 20,000 0
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt1MARK PETERS PARTICIPATES IN A 457(F) PLAN. THE AMOUNT SHOWN ABOVE AS NONQUALIFIED IS THE EMPLOYER CONTRIBUTION TO THE PLAN FOR THIS CALENDAR YEAR.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE J, PAGE 1, PART I, LINE 4
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE J, PART III
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IRS990ScheduleJ/WrittenPolicyRefTAndEExpnssInd0true
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS MEMBERS. TO BE A MEMBER ONE MUST HAVE A SHARE (SAVINGS) ACCOUNT AT THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS IS ELECTED BY THE CREDIT UNION MEMBERS. EACH MEMBER HAS ONE VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A MEMBER VOTE IS REQUIRED FOR DECISIONS WHICH ARE BEYOND THE AUTHORITY OF THE BOARD OF DIRECTORS. ITEMS WHICH REQUIRE A MEMBERSHIP VOTE ARE OUTLINED AND SPECIFIED IN OUR BYLAWS. EACH MEMBER HAS ONE VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CEO PROVIDES DATA TO INDEPENDENT CPA WHO PREPARES THE RETURN. CEO REVIEWS THE RETURN FOR ACCURACY, AND THEN AUTHORIZES CPA TO E-FILE APPROVED RETURN. MANAGEMENT THEN INFORMS BOARD OF DIRECTORS IT IS AVAILABLE FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONFLICT OF INTEREST POLICY IS SIGNED BY THE DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COMPENSATION COMMITTEE COMPRISED OF ELECTED DIRECTORS DETERMINES AND APPROVES THE CEO COMPENSATION. COMMITTEE USES PEER DATA / SALARY SURVEY AS PART OF THE PROCESS. APPROVAL BY THE BOARD IS DOCUMENTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CEO RECOMMENDS WAGES OF ALL OTHER EMPLOYEES TO BOARD OF DIRECTORS FOR APPROVAL. THE BOARD APPROVAL IS DOCUMENTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE UPON MEMBER REQUEST. FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TotalProgramServiceRevenueAmt04778778
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IRS990/TotalRevenueGrp/ExclusionAmt0632523
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt04778468
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05411301
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0310
IRS990/TotalVolunteersCnt08
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0136420831
IRS990/TypeOfOrganizationCorpInd0X
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IRS990/USAddress/CityNm0ESTHERVILLE
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IRS990/USAddress/ZIPCd051334
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IRS990/WebsiteAddressTxt0WWW.EMPLOYEESCU.COM
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MARK PETERS
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ReturnHeader/BusinessOfficerGrp/PhoneNum07123625897
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0EMPLOYEES CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0EMPL
ReturnHeader/Filer/EIN0420772828
ReturnHeader/Filer/PhoneNum07123625897
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0461065712
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BRENT WOOKEY CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1512
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LA CROSSE
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0546021512

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$136,420,831
Liabilities
$108,580,384
Net assets
$27,840,447
Revenue
$5,411,301
Expenses
$2,785,003
Net income
$2,626,298
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$174$140$34.5$10.8$8.46$2.30
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$148$118$30.2$6.22$3.87$2.34
2021Detailed filing. Detailed filing data is available for this year.$136$109$27.8$5.41$2.79$2.63
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$118$93.2$25.2$5.62$3.22$2.40
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$105$82.5$22.8$5.49$3.78$1.71
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$97.5$76.4$21.1$4.77$3.45$1.32
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$93.9$74.2$19.8$4.30$2.66$1.64
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$89.8$71.7$18.1$3.88$2.26$1.63
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$86.0$69.5$16.5$3.63$2.03$1.60
2014Detailed filing. Detailed filing data is available for this year.$83.7$68.8$14.9$3.40$2.17$1.23
2013Detailed filing. Detailed filing data is available for this year.$79.0$65.3$13.7$3.16$1.94$1.22
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$74.8$63.3$11.5$2.05