Civic Intelligence

Beacon Credit Union Inc

990 • Fiscal year 2018 • EIN 54-0606388

Jan 01, 2018 to Dec 31, 2018 • Filed on Oct 18, 2019

Organization Profilewww.mybcu.org

View Organization Page

107 Leroy Bowen DriveLynchburg, VA 24502

(434) 237-1566

Siviq Scores

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

Liabilities / Assets

53rd percentile

0.89x

Higher debt load relative to assets than 53% of similar nonprofits.

2018 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2018

Liabilities / Revenue

18th percentile

13.35x

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

2018 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2018

Net Margin

22nd percentile

7.3%

Higher net margin than 22% of similar nonprofits.

2018 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2018

Top Officer Pay

78th percentile

$268,210

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 2.2% of source-year revenue.

2018 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2018

Asset Growth

64th percentile

4.7%

Faster asset growth than 64% of similar nonprofits.

2018 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2017 to 2018

Revenue Growth

12th percentile

3.2%

Faster revenue growth than 12% of similar nonprofits.

2018 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets53rd percentile

Assets

Up

$185,540,076

Up $8,245,599 (+4.7%) from 2017

Net Assets

Up

$19,604,226

Up $575,473 (+3.0%) from 2017

Liabilities

Up

$165,935,850

Up $7,670,126 (+4.8%) from 2017

Revenue And Expenses
Liabilities / Revenue18th percentileNet Margin22nd percentile

Revenue

Up

$12,433,633

Up $382,289 (+3.2%) from 2017

Expenses

Up

$11,531,565

Up $278,213 (+2.5%) from 2017

Net Income

Up

$902,068

Up $104,076 (+13%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth64th percentile

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

$400M$300M$200M$100M$0Assets 2010: $76,891,864Liabilities 2010: $69,603,323Net Assets 2010: $7,288,5412010Assets 2011: $84,616,968Liabilities 2011: $76,468,405Net Assets 2011: $8,148,5632011Assets 2012: $92,451,122Liabilities 2012: $83,179,390Net Assets 2012: $9,271,7322012Assets 2013: $111,971,785Liabilities 2013: $99,899,463Net Assets 2013: $12,072,3222013Assets 2014: $135,352,336Liabilities 2014: $122,572,679Net Assets 2014: $12,779,6572014Assets 2015: $154,404,417Liabilities 2015: $140,596,036Net Assets 2015: $13,808,3812015Assets 2016: $159,069,342Liabilities 2016: $145,180,399Net Assets 2016: $13,888,9432016Assets 2017: $177,294,477Liabilities 2017: $158,265,724Net Assets 2017: $19,028,7532017Assets 2018: $185,540,076Liabilities 2018: $165,935,850Net Assets 2018: $19,604,2262018Assets 2019: $211,107,402Liabilities 2019: $190,697,381Net Assets 2019: $20,410,0212019Assets 2020: $227,358,861Liabilities 2020: $205,079,964Net Assets 2020: $22,278,8972020Assets 2021: $245,953,598Liabilities 2021: $220,579,972Net Assets 2021: $25,373,6262021Assets 2022: $289,405,166Liabilities 2022: $260,434,689Net Assets 2022: $28,970,4772022Assets 2023: $303,466,627Liabilities 2023: $270,955,941Net Assets 2023: $32,510,6862023Assets 2024: $332,485,880Liabilities 2024: $297,273,091Net Assets 2024: $35,212,7892024

Highlighted filing

2018

Assets$185,540,076
Liabilities$165,935,850
Net Assets$19,604,226
Open 2018 Filing

Operations Trend

Revenue Growth12th percentile

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

$30M$20M$10M$0Expenses 2010: $5,890,7102010Expenses 2011: $6,056,3482011Expenses 2012: $6,491,1052012Revenue 2013: $8,155,623Expenses 2013: $7,126,319Net Income 2013: $1,029,3042013Revenue 2014: $9,965,785Expenses 2014: $9,258,100Net Income 2014: $707,6852014Revenue 2015: $12,170,317Expenses 2015: $11,205,378Net Income 2015: $964,9392015Revenue 2016: $12,730,043Expenses 2016: $12,649,481Net Income 2016: $80,5622016Revenue 2017: $12,051,344Expenses 2017: $11,253,352Net Income 2017: $797,9922017Revenue 2018: $12,433,633Expenses 2018: $11,531,565Net Income 2018: $902,0682018Revenue 2019: $13,730,683Expenses 2019: $12,924,888Net Income 2019: $805,7952019Revenue 2020: $13,991,814Expenses 2020: $12,342,738Net Income 2020: $1,649,0762020Revenue 2021: $14,508,357Expenses 2021: $11,413,628Net Income 2021: $3,094,7292021Revenue 2022: $16,479,530Expenses 2022: $12,882,679Net Income 2022: $3,596,8512022Revenue 2023: $20,946,735Expenses 2023: $16,906,526Net Income 2023: $4,040,2092023Revenue 2024: $24,198,465Expenses 2024: $21,496,362Net Income 2024: $2,702,1032024

Highlighted filing

2018

Revenue$12,433,633
Expenses$11,531,565
Net Income$902,068
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Oct 18, 2019
Return Version
2018v3.0
Gross Receipts
$12,433,633
Mission and Program Overview

Mission

The mission of BCU is to serve its members with loan and deposit products that meet their financial needs and help achieve their financial goals.

The mission of Beacon Credit Union is to serve its members with loan and deposit products that meet their financial needs and help achieve their financial goals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$140,815,515$151,267,826▲ $10,452,311
Rtn Earn Endowment Incm Other Fnds$19,028,753$19,604,226▲ $575,473
Cash and Non-Interest-Bearing Accounts$13,000,056$17,507,826▲ $4,507,770
Land, Buildings, and Equipment, Net$7,139,345$9,004,160▲ $1,864,815
Prepaid Expenses and Deferred Charges$2,449,748$2,637,660▲ $187,912
Accounts Receivable$746,308$615,149▼ $131,159
Receivables From Officers Etc$703,570$588,185▼ $115,385
Investments Other Securities$10,177,109$42,060▼ $10,135,049
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$177,294,477$185,540,076▲ $8,245,599
Other Assets Total$2,262,826$3,877,210▲ $1,614,384
Liabilities
Other Liabilities$157,619,646$164,299,556▲ $6,679,910
Accounts Payable and Accrued Expenses$646,078$1,636,294▲ $990,216
Total Liabilities$158,265,724$165,935,850▲ $7,670,126
Net Assets / Fund Balance
Total Net Assets Fund Balance$19,028,753$19,604,226▲ $575,473
Total Liabilities and Net Assets / Fund Balance$177,294,477$185,540,076▲ $8,245,599

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,325,240$1,133,345$0
Other Land Buildings$0$0$0
Land$2,869,627-$0
Equipment$809,293$3,006,782$0
Leasehold Improvements$0$0$0
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Greg McConvilleCEOFT$203,897$64,313$268,210
Terry HammondCFOFT$119,154$27,510$146,664
Joe GoudeSVP of RetailFT$120,347$19,220$139,567
Susan KrantzSVP of OperationsFT$108,098$11,357$119,455

Board Members and Trustees

NameTitle
Wendy AyersChairman of the Board
Philip HynesVice Chairman of the Board
Kathy SmithAsst Secretary of the Board
Kelly KurtzDirector
William ColemanDirector
Nancy ComptonSecretary of the Board
Sandra WilliamsTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Jack Henry and Associates IncData Processing ServicesPO Box 609, Monett, MO 65708$275,827
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$377,925
Other Revenue
$12,055,708
Change in Net Assets
$902,068

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,433,633
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$12,433,633
Total Revenue per Form 990
$12,433,633
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,221,407
Salaries, Compensation, and Employee Benefits$5,310,158
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$3,455,117
All Other Expenses---$2,126,627
Interest---$955,142
Other Employee Benefits---$908,484
Office Expenses---$817,611
Current Officers, Directors, Trustees, and Key Employees---$561,496
Advertising---$515,566
Information Technology---$513,052
Occupancy---$484,666
Depreciation Depletion---$359,516
Other Expenses---$355,526
Payroll Taxes---$291,951
Pension Plan Contributions---$93,110
Fees for Services Accounting---$46,106
Insurance---$41,573
Fees for Services Legal---$6,022
Total Functional Expenses$0$0$0$11,531,565

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$11,531,565
Total Expenses per Audited Statements$11,531,565
Total Expenses per Form 990$11,531,565
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
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 Officers, Directors, Trustees, and Key Employees$703,570$588,185▼ $115,385
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deposit accounts$164,299,556
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, Section A, Line 6

“We are a state chartered credit union owned by our members.”

Form 990, Part VI, Section A, Line 7A

“Credit union members elect the directors.”

Form 990, Part VI, Section A, Line 7B

“Acquisition of Beacon Credit Union would require approval by a majority of our members.”

Form 990, Part VI, Section B, Line 11B

“Board of Directors review Form 990 before it is submitted to the IRS.”

Form 990, Part VI, Section B, Line 12C

“Conflicts of interest are disclosed and addressed if present.”

Form 990, Part VI, Section B, Line 15

“Independent compensation reviews are performed annually.”

Form 990, Part VI, Section C, Line 19

“Financial Statements are publicly posted monthly. By Laws would be available to our members upon request. Conflict of interest policy is not available to the public or our members.”

Filing and Contact Details

Filer

Filer Name
Beacon Credit Union Inc
EIN
54-0606388
Phone
4342371566
Address
107 Leroy Bowen Drive, Lynchburg, VA 24502

Signing Officer

Name
Terry Hammond
Title
CFO
Phone
4342371566
Signed
2019-10-18

Organization Details

Principal Officer
Greg McConville
Formed
1939
Legal Domicile
Va
Voting Board Members
7
Independent Board Members
7
Employees
114
Volunteers
10
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

“Loan Loss Provision--$1,016,000 Loan Servicing Expense--$1,110,627”

Form 990, Part XI, Line 9

“Adjustment to bring company produced financial statements used in 2017 to audited financial statements used in 2018. The credit union had unqualified opinion audits in both 2017 and 2018.”

Raw XML AppendixShowing 400 of 481 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.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt0646078
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt01636294
IRS990/AccountsReceivableGrp/BOYAmt0746308
IRS990/AccountsReceivableGrp/EOYAmt0615149
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0The mission of Beacon Credit Union is to serve its members with loan and deposit products that meet their financial needs and help achieve their financial goals.
IRS990/AdvertisingGrp/TotalAmt0515566
IRS990/AllOtherExpensesGrp/TotalAmt02126627
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/PersonNm0Terry W Hammond Jr
IRS990/BooksInCareOfDetail/PhoneNum04342371566
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0107 Leroy Bowen Drive
IRS990/BooksInCareOfDetail/USAddress/CityNm0Lynchburg
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0VA
IRS990/BooksInCareOfDetail/USAddress/ZIPCd024502
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOfficerEntInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CapStkTrPrinCurrentFundsGrp/BOYAmt00
IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt00
IRS990/CashNonInterestBearingGrp/BOYAmt013000056
IRS990/CashNonInterestBearingGrp/EOYAmt017507826
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt01
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0561496
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd01
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/ContractorCompensationGrp/CompensationAmt0275827
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt0PO Box 609
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm0Monett
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd0MO
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd065708
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt0Jack Henry and Associates Inc
IRS990/ContractorCompensationGrp/ServicesDesc0Data Processing Services
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt0377925
IRS990/CYOtherExpensesAmt06221407
IRS990/CYOtherRevenueAmt012055708
IRS990/CYProgramServiceRevenueAmt00
IRS990/CYRevenuesLessExpensesAmt0902068
IRS990/CYSalariesCompEmpBnftPaidAmt05310158
IRS990/CYTotalExpensesAmt011531565
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt012433633
IRS990/DecisionsSubjectToApprovaInd01
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/TotalAmt0359516
IRS990/Desc0Provided low cost deposit and loan services to our membership. Gave college scholarships. Raised money for CMN and Boys and Girls Clubs through golf tournaments. Employees active in community organizations as well such as SPCA.
IRS990/DescribedInSection501c3Ind00
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DonatedServicesAndUseFcltsAmt00
IRS990/DonorAdvisedFundInd00
IRS990/ElectionOfBoardMembersInd01
IRS990/EmployeeCnt0114
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/ExpenseAmt09560423
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/TotalAmt046106
IRS990/FeesForServicesLegalGrp/TotalAmt06022
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt10
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt20
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt30
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt40
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt60
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt70
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt80
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt90
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt100
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt01
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt51
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt60
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt745
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt840
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt940
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1040
IRS990/Form990PartVIISectionAGrp/HighestCompensatedEmployeeInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/KeyEmployeeInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt754313
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt827510
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt911357
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1019220
IRS990/Form990PartVIISectionAGrp/PersonNm0Wendy Ayers
IRS990/Form990PartVIISectionAGrp/PersonNm1Philip Hynes
IRS990/Form990PartVIISectionAGrp/PersonNm2Nancy Compton
IRS990/Form990PartVIISectionAGrp/PersonNm3Kathy Smith
IRS990/Form990PartVIISectionAGrp/PersonNm4Kelly Kurtz
IRS990/Form990PartVIISectionAGrp/PersonNm5Sandra Williams
IRS990/Form990PartVIISectionAGrp/PersonNm6William Coleman
IRS990/Form990PartVIISectionAGrp/PersonNm7Greg McConville
IRS990/Form990PartVIISectionAGrp/PersonNm8Terry Hammond
IRS990/Form990PartVIISectionAGrp/PersonNm9Susan Krantz
IRS990/Form990PartVIISectionAGrp/PersonNm10Joe Goude
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt7213897
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt8119154
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt9108098
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10120347
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/TitleTxt0Chairman of the Board
IRS990/Form990PartVIISectionAGrp/TitleTxt1Vice Chairman of the Board
IRS990/Form990PartVIISectionAGrp/TitleTxt2Secretary of the Board
IRS990/Form990PartVIISectionAGrp/TitleTxt3Asst Secretary of the Board
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt8CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt9SVP of Operations
IRS990/Form990PartVIISectionAGrp/TitleTxt10SVP of Retail
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/Form990TFiledInd01
IRS990/FormationYr01939
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt00
IRS990/GainOrLossGrp/SecuritiesAmt00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt07
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt012433633
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IncmFromInvestBondProceedsGrp/ExclusionAmt00
IRS990/IncmFromInvestBondProceedsGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt00
IRS990/IncmFromInvestBondProceedsGrp/UnrelatedBusinessRevenueAmt00
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt07
IRS990/IndivRcvdGreaterThan100KCnt04
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InformationTechnologyGrp/TotalAmt0513052
IRS990/InsuranceGrp/TotalAmt041573
IRS990/InterestGrp/TotalAmt0955142
IRS990/InvestmentExpenseAmt00
IRS990/InvestmentIncomeGrp/ExclusionAmt00
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt0377925
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0377925
IRS990/InvestmentIncomeGrp/UnrelatedBusinessRevenueAmt00
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt010177109
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt042060
IRS990/IRPDocumentCnt05011
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt04140127
IRS990/LandBldgEquipBasisNetGrp/BOYAmt07139345
IRS990/LandBldgEquipBasisNetGrp/EOYAmt09004160
IRS990/LandBldgEquipCostOrOtherBssAmt013144287
IRS990/LegalDomicileStateCd0VA
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MiscellaneousRevenueGrp/ExclusionAmt00
IRS990/MiscellaneousRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt00
IRS990/MiscellaneousRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/MissionDesc0The mission of BCU is to serve its members with loan and deposit products that meet their financial needs and help achieve their financial goals.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt019028753
IRS990/NetAssetsOrFundBalancesEOYAmt019604226
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt0484666
IRS990/OfficeExpensesGrp/TotalAmt0817611
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt02262826
IRS990/OtherAssetsTotalGrp/EOYAmt03877210
IRS990/OtherChangesInNetAssetsAmt0-326595
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0908484
IRS990/OtherExpensesGrp/Desc0Loan Loss Provision Expense
IRS990/OtherExpensesGrp/Desc1Loan Servicing Expense
IRS990/OtherExpensesGrp/Desc2Misc Expenses
IRS990/OtherExpensesGrp/TotalAmt00
IRS990/OtherExpensesGrp/TotalAmt10
IRS990/OtherExpensesGrp/TotalAmt2355526
IRS990/OtherLiabilitiesGrp/BOYAmt0157619646
IRS990/OtherLiabilitiesGrp/EOYAmt0164299556
IRS990/OtherRevenueMiscGrp/BusinessCd0522130
IRS990/OtherRevenueMiscGrp/BusinessCd1522130
IRS990/OtherRevenueMiscGrp/Desc0Loan Interest Income
IRS990/OtherRevenueMiscGrp/Desc1Fee Income
IRS990/OtherRevenueMiscGrp/ExclusionAmt00
IRS990/OtherRevenueMiscGrp/ExclusionAmt10
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt08539138
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt13421898
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt08539138
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt13516570
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt00
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt194672
IRS990/OtherRevenueTotalAmt012055708
IRS990/OtherSalariesAndWagesGrp/TotalAmt03455117
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0140815515
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0151267826
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt0291951
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt093110
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02449748
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02637660
IRS990/PrincipalOfficerNm0Greg McConville
IRS990/PriorPeriodAdjustmentsAmt00
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0161714
IRS990/PYOtherExpensesAmt07110954
IRS990/PYOtherRevenueAmt03115275
IRS990/PYProgramServiceRevenueAmt08774355
IRS990/PYRevenuesLessExpensesAmt0797992
IRS990/PYSalariesCompEmpBnftPaidAmt04142398
IRS990/PYTotalExpensesAmt011253352
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt012051344
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt0703570
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt0588185
IRS990/ReconcilationRevenueExpnssAmt0902068
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt010462491
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt019028753
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt019604226
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt05325240
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01133345
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt06458585
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt00
IRS990ScheduleD/DonatedServicesUseFcltsAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt0809293
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03006782
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt03816075
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt011531565
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt00
IRS990ScheduleD/InvestmentExpensesNotIncldAmt00
IRS990ScheduleD/LandGrp/BookValueAmt02869627
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt02869627
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LossesReportedAmt00
IRS990ScheduleD/NetUnrealizedGainsInvstAmt00
IRS990ScheduleD/OtherExpensesIncludedAmt00
IRS990ScheduleD/OtherExpensesNotIncludedAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0164299556
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Deposit accounts
IRS990ScheduleD/OtherRevenueAmt00
IRS990ScheduleD/OtherRevenuesNotIncludedAmt00
IRS990ScheduleD/PriorYearAdjustmentsAmt00
IRS990ScheduleD/RecoveriesPriorYearGrantsAmt00
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt012433633
IRS990ScheduleD/TotalBookValueLandBuildingsAmt09004160
IRS990ScheduleD/TotalExpensesPerForm990Amt011531565
IRS990ScheduleD/TotalLiabilityAmt0164299556
IRS990ScheduleD/TotalRevenuePerForm990Amt012433633
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt012433633
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt011531565
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/IndependentConsultantInd0X
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0203897
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount010000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt0224651
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt028440
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt025873
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Greg McConville
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0268210
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0Christmas bonuses are grossed up with respect to payroll taxes. This is done for all employees.
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt1Compensation is determined by annual salary studies which are reviewed by the Board compensation committee.
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt2The CEO has a non qualified plan valued at $611,336. It is a collateral based split dollar life insurance policy providing retirement benefits or payout to beneficiaries in the event of death.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule J, Part I, Line 1a
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule J, Part I, Line 3
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule J, Part I, Line 4
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd01
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0We are a state chartered credit union owned by our members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Credit union members elect the directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Acquisition of Beacon Credit Union would require approval by a majority of our members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Board of Directors review Form 990 before it is submitted to the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Conflicts of interest are disclosed and addressed if present.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Independent compensation reviews are performed annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Financial Statements are publicly posted monthly. By Laws would be available to our members upon request. Conflict of interest policy is not available to the public or our members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Loan Loss Provision--$1,016,000 Loan Servicing Expense--$1,110,627
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Adjustment to bring company produced financial statements used in 2017 to audited financial statements used in 2018. The credit union had unqualified opinion audits in both 2017 and 2018.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 7a

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$185,540,076
Liabilities
$165,935,850
Net assets
$19,604,226
Revenue
$12,433,633
Expenses
$11,531,565
Net income
$902,068
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$332$297$35.2$24.2$21.5$2.70
2023Detailed filing. Detailed filing data is available for this year.$303$271$32.5$20.9$16.9$4.04
2022Detailed filing. Detailed filing data is available for this year.$289$260$29.0$16.5$12.9$3.60
2021Detailed filing. Detailed filing data is available for this year.$246$221$25.4$14.5$11.4$3.09
2020Detailed filing. Detailed filing data is available for this year.$227$205$22.3$14.0$12.3$1.65
2019Detailed filing. Detailed filing data is available for this year.$211$191$20.4$13.7$12.9$0.81
2018Detailed filing. Detailed filing data is available for this year.$186$166$19.6$12.4$11.5$0.90
2017Detailed filing. Detailed filing data is available for this year.$177$158$19.0$12.1$11.3$0.80
2016Detailed filing. Detailed filing data is available for this year.$159$145$13.9$12.7$12.6$0.08
2015Detailed filing. Detailed filing data is available for this year.$154$141$13.8$12.2$11.2$0.96
2014Detailed filing. Detailed filing data is available for this year.$135$123$12.8$9.97$9.26$0.71
2013Detailed filing. Detailed filing data is available for this year.$112$99.9$12.1$8.16$7.13$1.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$92.5$83.2$9.27$6.49
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$84.6$76.5$8.15$6.06
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$76.9$69.6$7.29$5.89