Civic Intelligence

Telcomm Credit Union

990 • Fiscal year 2020 • EIN 44-0538278

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 11, 2021

2155 E SunshineSpringfield, MO 65804

(417) 886-5355

Siviq Scores

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

Liabilities / Assets

18th percentile

0.86x

Higher debt load relative to assets than 18% of similar nonprofits.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2020

Liabilities / Revenue

33rd percentile

17.86x

Higher debt load relative to revenue than 33% of similar nonprofits.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2020

Net Margin

96th percentile

30%

Higher net margin than 96% of similar nonprofits.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2020

Top Officer Pay

77th percentile

$280,281

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 2.6% of source-year revenue.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2020

Asset Growth

86th percentile

23%

Faster asset growth than 86% of similar nonprofits.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Revenue Growth

91st percentile

9.2%

Faster revenue growth than 91% of similar nonprofits.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Assets

Up

$220,804,918

Up $41,855,107 (+23%) from 2019

Net Assets

Up

$31,750,052

Up $4,171,700 (+15%) from 2019

Liabilities

Up

$189,054,866

Up $37,683,407 (+25%) from 2019

Revenue

Up

$10,586,724

Up $889,531 (+9.2%) from 2019

Expenses

Up

$7,405,624

Up $712,173 (+11%) from 2019

Net Income

Up

$3,181,100

Up $177,358 (+5.9%) from 2019

Historical Trend

Balance Sheet Trend

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

$400M$300M$200M$100M$0Assets 2012: $115,129,764Liabilities 2012: $99,402,636Net Assets 2012: $15,727,1282012Assets 2013: $123,123,841Liabilities 2013: $106,529,091Net Assets 2013: $16,594,7502013Assets 2014: $129,041,823Liabilities 2014: $111,348,251Net Assets 2014: $17,693,5722014Assets 2015: $136,148,516Liabilities 2015: $117,512,742Net Assets 2015: $18,635,7742015Assets 2016: $143,508,635Liabilities 2016: $124,484,891Net Assets 2016: $19,023,7442016Assets 2017: $151,175,034Liabilities 2017: $130,350,998Net Assets 2017: $20,824,0362017Assets 2019: $178,949,811Liabilities 2019: $151,371,459Net Assets 2019: $27,578,3522019Assets 2020: $220,804,918Liabilities 2020: $189,054,866Net Assets 2020: $31,750,0522020Assets 2021: $246,500,693Liabilities 2021: $211,828,186Net Assets 2021: $34,672,5072021Assets 2022: $273,963,242Liabilities 2022: $241,577,741Net Assets 2022: $32,385,5012022Assets 2024: $308,222,357Liabilities 2024: $270,236,605Net Assets 2024: $37,985,7522024

Highlighted filing

2020

Assets$220,804,918
Liabilities$189,054,866
Net Assets$31,750,052

Operations Trend

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

$30M$20M$10M$0Expenses 2012: $4,521,6312012Revenue 2013: $5,459,242Expenses 2013: $4,591,620Net Income 2013: $867,6222013Revenue 2014: $5,451,406Expenses 2014: $4,352,584Net Income 2014: $1,098,8222014Revenue 2015: $5,655,440Expenses 2015: $4,643,634Net Income 2015: $1,011,8062015Revenue 2016: $6,174,221Expenses 2016: $4,790,373Net Income 2016: $1,383,8482016Revenue 2017: $6,820,371Expenses 2017: $5,128,582Net Income 2017: $1,691,7892017Revenue 2019: $9,697,193Expenses 2019: $6,693,451Net Income 2019: $3,003,7422019Revenue 2020: $10,586,724Expenses 2020: $7,405,624Net Income 2020: $3,181,1002020Revenue 2021: $11,784,630Expenses 2021: $8,000,578Net Income 2021: $3,784,0522021Revenue 2022: $13,563,264Expenses 2022: $10,356,566Net Income 2022: $3,206,6982022Revenue 2024: $20,898,720Expenses 2024: $18,898,035Net Income 2024: $2,000,6852024

Highlighted filing

2020

Revenue$10,586,724
Expenses$7,405,624
Net Income$3,181,100
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 11, 2021
Return Version
2020v4.0
Gross Receipts
$10,586,724
Mission and Program Overview

Mission

As a member owned cooperative, this credit union is dedicated to providing high quality financial services to the members, remaining responsive to member needs and goals, and pursuing the philosophy of "people helping people" within the constraints of sound business practices.

Member owned cooperative dedicated to providing high quality financial services to its members

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$106,532,375$136,480,118▲ $29,947,743
Investments in Publicly Traded Securities$38,303,802$47,374,142▲ $9,070,340
Rtn Earn Endowment Incm Other Fnds$27,578,352$31,750,052▲ $4,171,700
Savings and Temporary Cash Investments$9,145,176$9,942,897▲ $797,721
Investments Other Securities$10,691,000$8,611,000▼ $2,080,000
Land, Buildings, and Equipment, Net$4,436,203$5,905,969▲ $1,469,766
Cash and Non-Interest-Bearing Accounts$1,810,306$2,080,460▲ $270,154
Investments Program Related$1,429,192$1,694,849▲ $265,657
Prepaid Expenses and Deferred Charges$301,417$147,594▼ $153,823
Total Assets$178,949,811$220,804,918▲ $41,855,107
Other Assets Total$6,300,340$8,567,889▲ $2,267,549
Liabilities
Other Liabilities$150,859,239$185,620,725▲ $34,761,486
Accounts Payable and Accrued Expenses$512,220$3,434,141▲ $2,921,921
Total Liabilities$151,371,459$189,054,866▲ $37,683,407
Net Assets / Fund Balance
Total Net Assets Fund Balance$27,578,352$31,750,052▲ $4,171,700
Total Liabilities and Net Assets / Fund Balance$178,949,811$220,804,918▲ $41,855,107

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,042,691$2,516,418$5,559,109
Equipment$653,886$1,994,485$2,648,371
Land$1,846,773-$1,846,773
Other Land Buildings$362,619-$362,619
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Don AckermanPresidentFT$236,791$43,490$280,281
Jessica ShorneyCFOFT$95,019$11,658$106,677
Tim HarrisVP of It & BFT$74,246$9,391$83,637

Board Members and Trustees

NameTitle
Gregory EckChairman
Ron BarberVice Chairma
Bob NetzerBoard Member
Chris GeorgeBoard Member
John HalsteadBoard Member
Julius B MeltonBoard Member
Steve LoshBoard Member
Steve WoodallBoard Member
David RoperSec/treasure

Highest Paid Contractors

ContractorServicesLocationCompensation
Nesbitt ConstructionConstruction1400 E SAINT LOUIS ST, Springfield, MO 65802$627,894
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$10,245,974
Investment Income
$322,150
Other Revenue
$18,600
Change in Net Assets
$3,181,100
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,729,136
Salaries, Compensation, and Employee Benefits$2,675,618
Grants and Similar Amounts Paid$870
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$1,708,946
Office Expenses---$1,042,646
Interest---$886,425
Current Officers, Directors, Trustees, and Key Employees---$470,595
Other Expenses---$461,712
Depreciation Depletion---$282,048
Occupancy---$278,316
All Other Expenses---$235,302
Other Employee Benefits---$222,607
Advertising---$181,763
Payroll Taxes---$152,152
Pension Plan Contributions---$121,318
Information Technology---$74,708
Insurance---$48,575
Fees for Services Accounting---$23,683
Fees for Services Other---$20,624
Conferences and Meetings---$9,608
Fees for Services Legal---$6,173
Travel---$1,364
Grants to Domestic Orgs---$870
Total Functional Expenses$0$0$0$7,405,624
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
MEMBERS' DEPOSITS$185,620,725
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

The members of the credit union are considered to be the owners of the organization.

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

The members of the credit union elect the board of directors and supervisory committee members for three year terms.

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

The return is given to the president, don ackerman and the board for review. After reviewing the return, don signs the e-file authorization form, and it is e-filed with the irs. A copy of the final return is included at the next monthly board meeting.

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

The president performance and compensation review committee is selected from the members of the board. This committee uses the cuna compensation survey, other demographic compensation reports and the credit union's past performance to evaluate the appropriate amount of executive compensation. The amount of executive compensation is proposed to the board in a closed door meeting and after a discussion among the board members an amount is approved.

Form 990, Page 6, Part VI, Line 19

Copies of the credit union governing documents, financial statements and conflict of interest policy are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Telcomm Credit Union
EIN
44-0538278
Phone
4178865355
Address
2155 E SUNSHINE, SPRINGFIELD, MO 65804

Signing Officer

Name
Jessica Shorney
Title
CFO
Phone
4178865355
Signed
2021-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jessica Shorney
Formed
1940
Legal Domicile
Mo
Voting Board Members
9
Independent Board Members
9
Employees
58
Volunteers
11

Preparer

Firm
Kpm Cpas Pc
Address
1445 E REPUBLIC RD, SPRINGFIELD, MO 65804
Preparer
Andrew C Clemens CPA
Phone
4178824300
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

As a member owned cooperative, this credit union is dedicated to providing high quality financial services to the members, remaining responsive to member needs and goals, and pursuing the philosophy of "people helping people" within the constraints of sound business practices.

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IRS990/OtherAssetsTotalGrp/BOYAmt06300340
IRS990/OtherAssetsTotalGrp/EOYAmt08567889
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0222607
IRS990/OtherExpensesGrp/Desc0ALLOCATED ATM OVERHEAD
IRS990/OtherExpensesGrp/Desc1DATA PROCESSING
IRS990/OtherExpensesGrp/Desc2PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc3ATM/CC PROCESSING
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IRS990/OtherExpensesGrp/TotalAmt1635812
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IRS990/OtherSalariesAndWagesGrp/TotalAmt01708946
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IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0136480118
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IRS990/PayrollTaxesGrp/TotalAmt0152152
IRS990/PensionPlanContributionsGrp/TotalAmt0121318
IRS990/PoliciesReferenceChaptersInd0true
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0301417
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0147594
IRS990/PrincipalOfficerNm0JESSICA SHORNEY
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0522291
IRS990/ProgramServiceRevenueGrp/BusinessCd1525990
IRS990/ProgramServiceRevenueGrp/BusinessCd2522210
IRS990/ProgramServiceRevenueGrp/BusinessCd3525990
IRS990/ProgramServiceRevenueGrp/BusinessCd4524298
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST ON LOANS
IRS990/ProgramServiceRevenueGrp/Desc1CREDIT CARD INCOME
IRS990/ProgramServiceRevenueGrp/Desc2FEES AND CHARGES
IRS990/ProgramServiceRevenueGrp/Desc3OTHER INCOME
IRS990/ProgramServiceRevenueGrp/Desc4INSURANCE COMMISSIONS
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11267268
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2989472
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3239895
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt468990
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11267268
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2989472
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IRS990/PYTotalExpensesAmt06693451
IRS990/PYTotalRevenueAmt09697193
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IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt018600
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt027578352
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt031750052
IRS990/SavingsAndTempCashInvstGrp/BOYAmt09145176
IRS990/SavingsAndTempCashInvstGrp/EOYAmt09942897
IRS990/ScheduleBRequiredInd0false
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt02516418
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05559109
IRS990ScheduleD/EquipmentGrp/BookValueAmt0653886
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01994485
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02648371
IRS990ScheduleD/LandGrp/BookValueAmt01846773
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01846773
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0362619
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0362619
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0185620725
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBERS' DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05905969
IRS990ScheduleD/TotalLiabilityAmt0185620725
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0236791
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount028500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt06973
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt08017
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0DON ACKERMAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0280281
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AS A MEMBER OWNED COOPERATIVE, THIS CREDIT UNION IS DEDICATED TO PROVIDING HIGH QUALITY FINANCIAL SERVICES TO THE MEMBERS, REMAINING RESPONSIVE TO MEMBER NEEDS AND GOALS, AND PURSUING THE PHILOSOPHY OF "PEOPLE HELPING PEOPLE" WITHIN THE CONSTRAINTS OF SOUND BUSINESS PRACTICES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MEMBERS OF THE CREDIT UNION ARE CONSIDERED TO BE THE OWNERS OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE MEMBERS OF THE CREDIT UNION ELECT THE BOARD OF DIRECTORS AND SUPERVISORY COMMITTEE MEMBERS FOR THREE YEAR TERMS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE RETURN IS GIVEN TO THE PRESIDENT, DON ACKERMAN AND THE BOARD FOR REVIEW. AFTER REVIEWING THE RETURN, DON SIGNS THE E-FILE AUTHORIZATION FORM, AND IT IS E-FILED WITH THE IRS. A COPY OF THE FINAL RETURN IS INCLUDED AT THE NEXT MONTHLY BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PRESIDENT PERFORMANCE AND COMPENSATION REVIEW COMMITTEE IS SELECTED FROM THE MEMBERS OF THE BOARD. THIS COMMITTEE USES THE CUNA COMPENSATION SURVEY, OTHER DEMOGRAPHIC COMPENSATION REPORTS AND THE CREDIT UNION'S PAST PERFORMANCE TO EVALUATE THE APPROPRIATE AMOUNT OF EXECUTIVE COMPENSATION. THE AMOUNT OF EXECUTIVE COMPENSATION IS PROPOSED TO THE BOARD IN A CLOSED DOOR MEETING AND AFTER A DISCUSSION AMONG THE BOARD MEMBERS AN AMOUNT IS APPROVED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COPIES OF THE CREDIT UNION GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/EOYAmt0220804918
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
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IRS990/TotalGrossUBIAmt038688
IRS990/TotalLiabilitiesBOYAmt0151371459
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt031750052
IRS990/TotalOtherCompensationAmt036039
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt038688
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt038688
IRS990/TotalProgramServiceRevenueAmt010245974
IRS990/TotalReportableCompFromOrgAmt0434556
IRS990/TotalRevenueGrp/ExclusionAmt0312752
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt010235284
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt010586724
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt038688
IRS990/TotalVolunteersCnt011
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0178949811
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0220804918
IRS990/TravelGrp/TotalAmt01364
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0TELCOMMCU.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JESSICA SHORNEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum04178865355
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TELCOMM CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0TELC
ReturnHeader/Filer/EIN0440538278
ReturnHeader/Filer/PhoneNum04178865355
ReturnHeader/Filer/USAddress/AddressLine1Txt02155 E SUNSHINE
ReturnHeader/Filer/USAddress/CityNm0SPRINGFIELD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MO
ReturnHeader/Filer/USAddress/ZIPCd065804
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0431109768
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KPM CPAS PC

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