Civic Intelligence

Weokie Credit Union

EIN 73-0784198 • 501(c)14 • Oklahoma City, OK

Profile

State chartered credit union providing financial services to its member owners.

PO Box 26090Oklahoma City, OK 73126-0090

www.weokie.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

11th percentile

0.87x

Higher debt load relative to assets than 11% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Source year 2017

Liabilities / Revenue

93rd percentile

20.85x

Higher debt load relative to revenue than 93% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Source year 2017

Net Margin

84th percentile

17%

Higher net margin than 84% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Source year 2017

Top Officer Pay

1st percentile

$0

Higher top officer pay than 1% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)14 • $1B+ nonprofits • Source year 2014

Asset Growth

12th percentile

-3.2%

Faster asset growth than 12% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Annualized from 2016 to 2017

Revenue Growth

10th percentile

6.6%

Faster revenue growth than 10% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Annualized from 2016 to 2017

Assets

Down

$1,024,486,254

Down $33,568,572 (-3.2%) from 2016

Liabilities

Down

$896,379,814

Down $41,263,921 (-4.4%) from 2016

Net Assets

Up

$128,106,440

Up $7,695,349 (+6.4%) from 2016

Revenue

Up

$42,986,888

Up $2,666,983 (+6.6%) from 2016

Expenses

Up

$35,498,173

Up $3,014,805 (+9.3%) from 2016

Net Income

Down

$7,488,715

Down $347,822 (-4.4%) from 2016

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5B$1.0B$500M$0Assets 2010: $784,290,740Liabilities 2010: $706,720,431Net Assets 2010: $77,570,3092010Assets 2011: $801,244,553Liabilities 2011: $719,132,835Net Assets 2011: $82,111,7182011Assets 2012: $880,240,958Liabilities 2012: $788,499,540Net Assets 2012: $91,741,4182012Assets 2013: $928,392,543Liabilities 2013: $829,254,465Net Assets 2013: $99,138,0782013Assets 2014: $1,012,562,924Liabilities 2014: $905,475,498Net Assets 2014: $107,087,4262014Assets 2015: $1,017,772,227Liabilities 2015: $903,759,305Net Assets 2015: $114,012,9222015Assets 2016: $1,058,054,826Liabilities 2016: $937,643,735Net Assets 2016: $120,411,0912016Assets 2017: $1,024,486,254Liabilities 2017: $896,379,814Net Assets 2017: $128,106,4402017

Highlighted filing

2017

Assets$1,024,486,254
Liabilities$896,379,814
Net Assets$128,106,440

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$60M$40M$20M$0Expenses 2010: $33,973,4422010Expenses 2011: $31,508,3482011Expenses 2012: $30,157,9922012Revenue 2013: $36,805,080Expenses 2013: $28,968,738Net Income 2013: $7,836,3422013Revenue 2014: $37,808,067Expenses 2014: $30,747,353Net Income 2014: $7,060,7142014Revenue 2015: $39,684,926Expenses 2015: $31,597,730Net Income 2015: $8,087,1962015Revenue 2016: $40,319,905Expenses 2016: $32,483,368Net Income 2016: $7,836,5372016Revenue 2017: $42,986,888Expenses 2017: $35,498,173Net Income 2017: $7,488,7152017

Highlighted filing

2017

Revenue$42,986,888
Expenses$35,498,173
Net Income$7,488,715

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Feb 21, 2018
Return Version
2017v2.2
Gross Receipts
$42,986,888
Mission and Program Overview

Mission

State chartered credit union providing financial services to its member owners.

Credit union providing financial services to its member owners.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$558,053,675$599,842,507▲ $41,788,832
Investments Other Securities$379,371,155$322,866,223▼ $56,504,932
Rtn Earn Endowment Incm Other Fnds$120,411,091$128,106,440▲ $7,695,349
Cash and Non-Interest-Bearing Accounts$66,134,186$46,324,916▼ $19,809,270
Land, Buildings, and Equipment, Net$27,428,699$30,257,111▲ $2,828,412
Savings and Temporary Cash Investments$14,267,170$12,564,525▼ $1,702,645
Accounts Receivable$1,962,538$1,911,017▼ $51,521
Prepaid Expenses and Deferred Charges$568,023$586,062▲ $18,039
Total Assets$1,058,054,826$1,024,486,254▼ $33,568,572
Other Assets Total$10,269,380$10,133,893▼ $135,487
Liabilities
Other Liabilities$723,556,245$702,037,124▼ $21,519,121
Unsecured Notes Loans Payable$201,279,178$183,562,515▼ $17,716,663
Accounts Payable and Accrued Expenses$10,825,482$8,622,267▼ $2,203,215
Escrow Account Liability$1,982,830$2,157,908▲ $175,078
Total Liabilities$937,643,735$896,379,814▼ $41,263,921
Net Assets / Fund Balance
Total Net Assets Fund Balance$120,411,091$128,106,440▲ $7,695,349
Total Liabilities and Net Assets / Fund Balance$1,058,054,826$1,024,486,254▼ $33,568,572

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$20,762,389$7,834,266$28,596,655
Equipment$1,447,143$10,262,436$11,709,579
Land$8,047,579-$8,047,579
Other Securities$3,329--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brent TaylorPresident anFT$616,486$54,233$670,719
Brent TaylorPresident and CEO-$450,086$220,633$670,719
Doug SchwarzExecutive VPFT$431,714$54,233$485,947
Doug SchwarzExecutive VP & CFO-$337,564$148,383$485,947
Diane MachCOOFT$204,600$63,650$268,250
David DubeyVP of ItFT$168,000$42,155$210,155
Steven McconnellGeneral CounFT$158,950$35,880$194,830
Steven McconnellGeneral Counsel-$151,600$43,230$194,830
Doyle ProvinceVP of MortgaFT$157,950$33,245$191,195
Doyle ProvinceVP of Mortgage-$145,800$45,395$191,195
Dawn SimonVP of MarketFT$142,050$31,997$174,047
Dawn SimonVP of Marketing-$133,200$40,847$174,047
Mike RoarkVP of OperatFT$138,150$31,353$169,503
Mike RoarkVP of Operations-$129,000$40,503$169,503

Board Members and Trustees

NameTitle
Warren PybasChairman
Gary TarkingtonVice-chairma
Craig EidsonDirector
Dennis MarchDirector
Lee LilesDirector
Tony CarlDirector
Leonard WellsSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$31,463,036
Investment Income
$8,035,074
Other Revenue
$3,488,778
Change in Net Assets
$7,488,715

Audited Revenue Reconciliation

Revenue per Audited Statements
$42,986,888
Revenue Not Reported on Form 990
$206,634
Total Revenue per Audited Statements
$43,193,522
Total Revenue per Form 990
$42,986,888
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$17,082,081
Salaries, Compensation, and Employee Benefits$14,626,007
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$11,321,656-$11,321,656
Interest-$4,650,663-$4,650,663
Benefits to Members$3,790,085--$3,790,085
Information Technology-$1,558,246-$1,558,246
Other Employee Benefits-$1,340,122-$1,340,122
Depreciation Depletion-$1,306,694-$1,306,694
Pension Plan Contributions-$1,217,217-$1,217,217
Occupancy-$1,115,864-$1,115,864
Office Expenses-$937,908-$937,908
Payroll Taxes-$747,012-$747,012
Advertising-$684,532-$684,532
Fees for Services Accounting-$252,915-$252,915
Conferences and Meetings-$229,551-$229,551
Insurance-$223,774-$223,774
Other Expenses-$219,789-$219,789
Fees for Services Legal-$129,714-$129,714
All Other Expenses-$11,666-$11,666
Total Functional Expenses$3,790,085$31,708,088$0$35,498,173

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$35,498,173
Total Expenses per Audited Statements$35,498,173
Total Expenses per Form 990$35,498,173
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$702,037,124
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
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

ORGANIZED WITH MEMBERS.

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

Annually, weokie holds its annual membership meeting in which all members are eligible to participate. It is at this annual meeting in which all members in attendence get an equal vote in the election of the governing body of the board of directors.

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

No review outside of that of the preparer and the accounting manager will be conducted.

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

This is done through our daily management supervision, periodic and re- occurring internal audit, and the regular review of all employee accounts and account activities.

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

The governing body (board of directors) has a formal salary review committee that meets at least annually and reviews and sets the pay grades of all classes of employees. Outside benchmark surveys are obtained annually and are used as part of the overall review. Several other factors including the regional cpi statistic are taken into consideration as well.

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

The governing body (board of directors) has a formal salary review committee that meets at least annually and reviews and sets the pay grades of all classes of employees. Outside benchmark surveys are obtained annually and are used as part of the overall review. Several other factors including the regional cpi statistic are taken into consideration as well.

Form 990, Page 6, Part VI, Line 19

A monthly financial recap is posted in the lobbies of all branches. Quarterly we file ncua form 5300 which is a very complete detail of our financial condition. All parts of this form are available to the general public through ncua's website. Finally, as part of our annual meeting of the membership, we provide condensed audited financials and other key financial ratios.

Filing and Contact Details

Filer

Filer Name
Weokie Credit Union
EIN
73-0784198
Phone
4052353030
Address
PO BOX 26090, OKLAHOMA CITY, OK 73126-0090

Signing Officer

Name
Doug Schwarz
Title
Executive VP & CFO
Phone
4052353030
Signed
2018-02-21

Organization Details

Principal Officer
Brent Taylor
Formed
1969
Legal Domicile
Ok
Voting Board Members
7
Independent Board Members
7
Employees
249
Volunteers
13
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

At the end of the year, weokie had the following volunteers: 6 - board members 2 - associate board members 5 - supervisory committee members all volunteers are unpaid and work on behalf of weokie's membership.

Financial Statement Notes

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

Weokie maintains escrow accounts to pay taxes and insurance on behalf of our members who have mortgage loans with us.

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