Civic Intelligence

Texell Credit Union

990 • Fiscal year 2017 • EIN 74-1109882

Jan 01, 2017 to Dec 31, 2017 • Filed on May 18, 2018

P O Box 983Temple, TX 76503

(254) 773-1604

Siviq Scores

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

Liabilities / Assets

47th percentile

0.89x

Higher debt load relative to assets than 47% of similar nonprofits.

2017 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2017

Liabilities / Revenue

10th percentile

12.40x

Higher debt load relative to revenue than 10% of similar nonprofits.

2017 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2017

Net Margin

19th percentile

6.9%

Higher net margin than 19% of similar nonprofits.

2017 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2017

Top Officer Pay

38th percentile

$357,522

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

2017 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2017

Asset Growth

65th percentile

6.9%

Faster asset growth than 65% of similar nonprofits.

2017 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2016 to 2017

Revenue Growth

81st percentile

13%

Faster revenue growth than 81% of similar nonprofits.

2017 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2016 to 2017

Assets

Up

$331,713,825

Up $21,385,212 (+6.9%) from 2016

Net Assets

Up

$35,860,727

Up $1,635,417 (+4.8%) from 2016

Liabilities

Up

$295,853,098

Up $19,749,795 (+7.2%) from 2016

Revenue

Up

$23,855,124

Up $2,772,503 (+13%) from 2016

Expenses

Up

$22,210,434

Up $3,586,508 (+19%) from 2016

Net Income

Down

$1,644,690

Down $814,005 (-33%) from 2016

Historical Trend

Balance Sheet Trend

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

$800M$600M$400M$200M$0Assets 2011: $169,554,580Liabilities 2011: $1,861,972Net Assets 2011: $167,692,6082011Assets 2012: $206,198,297Liabilities 2012: $185,339,979Net Assets 2012: $20,858,3182012Assets 2013: $225,882,933Liabilities 2013: $201,460,768Net Assets 2013: $24,422,1652013Assets 2014: $240,244,990Liabilities 2014: $211,735,607Net Assets 2014: $28,509,3832014Assets 2015: $276,234,370Liabilities 2015: $244,457,409Net Assets 2015: $31,776,9612015Assets 2016: $310,328,613Liabilities 2016: $276,103,303Net Assets 2016: $34,225,3102016Assets 2017: $331,713,825Liabilities 2017: $295,853,098Net Assets 2017: $35,860,7272017Assets 2018: $355,023,199Liabilities 2018: $315,246,280Net Assets 2018: $39,776,9192018Assets 2019: $406,684,593Liabilities 2019: $362,652,773Net Assets 2019: $44,031,8202019Assets 2020: $471,610,622Liabilities 2020: $423,243,513Net Assets 2020: $48,367,1092020Assets 2021: $562,565,721Liabilities 2021: $507,148,846Net Assets 2021: $55,416,8752021Assets 2022: $628,710,729Liabilities 2022: $565,541,261Net Assets 2022: $63,169,4682022Assets 2023: $690,228,948Liabilities 2023: $624,442,003Net Assets 2023: $65,786,9452023Assets 2024: $751,933,225Liabilities 2024: $681,296,097Net Assets 2024: $70,637,1282024

Highlighted filing

2017

Assets$331,713,825
Liabilities$295,853,098
Net Assets$35,860,727

Operations Trend

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

$80M$60M$40M$20M$0Expenses 2011: $11,068,8212011Expenses 2012: $12,372,2752012Revenue 2013: $17,114,569Expenses 2013: $13,466,086Net Income 2013: $3,648,4832013Revenue 2014: $18,419,659Expenses 2014: $14,358,334Net Income 2014: $4,061,3252014Revenue 2015: $19,430,371Expenses 2015: $16,145,893Net Income 2015: $3,284,4782015Revenue 2016: $21,082,621Expenses 2016: $18,623,926Net Income 2016: $2,458,6952016Revenue 2017: $23,855,124Expenses 2017: $22,210,434Net Income 2017: $1,644,6902017Revenue 2018: $26,531,057Expenses 2018: $22,604,269Net Income 2018: $3,926,7882018Revenue 2019: $30,045,999Expenses 2019: $25,807,980Net Income 2019: $4,238,0192019Revenue 2020: $30,180,870Expenses 2020: $25,851,228Net Income 2020: $4,329,6422020Revenue 2021: $32,645,542Expenses 2021: $25,578,034Net Income 2021: $7,067,5082021Revenue 2022: $40,918,617Expenses 2022: $33,136,008Net Income 2022: $7,782,6092022Revenue 2023: $51,325,244Expenses 2023: $46,832,206Net Income 2023: $4,493,0382023Revenue 2024: $60,245,528Expenses 2024: $55,405,368Net Income 2024: $4,840,1602024

Highlighted filing

2017

Revenue$23,855,124
Expenses$22,210,434
Net Income$1,644,690
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 18, 2018
Return Version
2017v2.0
Gross Receipts
$23,855,124
Mission and Program Overview

Mission

Cooperative, member-owned, not-for-profit provider of finanical services to our members

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$244,481,398$273,725,405▲ $29,244,007
Rtn Earn Endowment Incm Other Fnds$34,225,310$35,860,727▲ $1,635,417
Savings and Temporary Cash Investments$32,718,264$23,375,981▼ $9,342,283
Land, Buildings, and Equipment, Net$11,274,378$12,988,069▲ $1,713,691
Investments in Publicly Traded Securities$6,637,790$7,535,678▲ $897,888
Cash and Non-Interest-Bearing Accounts$5,081,259$5,286,701▲ $205,442
Accounts Receivable$1,894,388$1,506,758▼ $387,630
Receivables From Officers Etc$1,019,075$1,164,075▲ $145,000
Prepaid Expenses and Deferred Charges$478,285$471,423▼ $6,862
Investments Other Securities$111,800$125,600▲ $13,800
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Investments Program Related$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$310,328,613$331,713,825▲ $21,385,212
Other Assets Total$6,631,976$5,534,135▼ $1,097,841
Liabilities
Other Liabilities$270,384,313$289,089,268▲ $18,704,955
Accounts Payable and Accrued Expenses$5,718,990$6,763,830▲ $1,044,840
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$276,103,303$295,853,098▲ $19,749,795
Net Assets / Fund Balance
Total Net Assets Fund Balance$34,225,310$35,860,727▲ $1,635,417
Total Liabilities and Net Assets / Fund Balance$310,328,613$331,713,825▲ $21,385,212

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,622,046$2,680,603$0
Other Land Buildings$0$0$0
Land$4,145,244-$0
Equipment$1,574,811$4,545,480$0
Leasehold Improvements$645,968$135,849$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tony HaleCEOFT$254,039$103,483$357,522
Amy MerrimanCOOFT$134,437$55,319$189,756
George FerrettiCFOFT$114,927$57,858$172,785
Anthony RodgersGeneral CounselFT$110,769$45,795$156,564
Mary NickolaiVP of MarketingFT$100,249$19,091$119,340
Michael GonzalezFssFT$103,502$5,035$108,537
Joe PalmerBod Member-$2,340-$2,340
Daniel MareshBod Member-$1,950-$1,950
Roberta Lynn EatonBod Member-$1,950-$1,950
William CorneliusBod Member-$1,950-$1,950
Chris MooreBod Member-$1,800-$1,800
Dan BowenBod Member-$1,800-$1,800
Van MillerBod Member-$1,800-$1,800
Kenneth GabyBod Member-$1,650-$1,650

Board Members and Trustees

NameTitle
Sue McmillinBod Member

Highest Paid Contractors

ContractorServicesLocationCompensation
John King Construction LtdConstruction Contractor1220 MCNEIL RD, STE 300A, Austin, TX 78681$644,685
Jack Henry And Associates INCCore Information ProviderPO BOX 609, SUITE 150, Monett, MO 65708$420,460
Lanvera LtdMass Mail Provider112 WRANGLER DR, Coppell, TX 75019$210,909
One Touch Point-ginny'sMarketingPO BOX 143924, Austin, TX 78714$194,406
Cen-tex Financial SolutionsAtm MaintenancePO BOX 23668, Waco, TX 76702$193,492
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$23,572,734
Investment Income
$282,390
Other Revenue
$0
All Other Contributions
$0
Change in Net Assets
$1,644,690

Audited Revenue Reconciliation

Revenue per Audited Statements
$23,855,124
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$23,855,124
Total Revenue per Form 990
$23,855,124
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$14,351,668
Salaries, Compensation, and Employee Benefits$7,858,766
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,526,475$0$0$5,526,475
Interest$1,899,963$0$0$1,899,963
Occupancy$1,324,710$0$0$1,324,710
Current Officers, Directors, Trustees, and Key Employees$1,119,744$0$0$1,119,744
Advertising$884,286$0$0$884,286
Office Expenses$817,448$0$0$817,448
Depreciation Depletion$654,581$0$0$654,581
Other Employee Benefits$556,162$0$0$556,162
Fees for Services Other$542,307$0$0$542,307
Other Expenses$534,718$0$0$534,718
Payroll Taxes$486,082$0$0$486,082
Information Technology$327,854$0$0$327,854
Pension Plan Contributions$170,303$0$0$170,303
Insurance$83,976$0$0$83,976
Fees for Services Accounting$73,666$0$0$73,666
Travel$57,069$0$0$57,069
Fees for Services Management$48,933$0$0$48,933
Conferences and Meetings$42,564$0$0$42,564
Payments to Affiliates$32,729$0$0$32,729
Total Functional Expenses$22,210,434$0$0$22,210,434

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$22,210,434
Total Expenses per Audited Statements$22,210,434
Total Expenses per Form 990$22,210,434
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
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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$1,019,075$1,164,075▲ $145,000
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Regular Checking Shares$135,546,100
Certificates$91,901,426
Money Market$42,119,925
Ira Certificates$11,706,807
Organization Shares$4,764,094
Ira Shares$2,910,147
Od Shares$140,769
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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

Part VI, Section A, Line 6

The organization has members

Part VI, Section A, Line 7A

| Class of the Person:, Nature of their rights:| THE ORGANIZATION HAS MEMBERS, THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS.|

Part VI, Section A, Line 7B

| Class of the Person:, Decisions that require their approval:, Nature of their rights:| MEMBER, THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF MEMBERS, MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR.|

Part VI, Section B, Line 11B

Copy of the 990 is reviewed by senior management and shared at board meeting

Part VI, Section B, Line 15

| Name of the Person:, The process used to establish compensation of the person who served in:|, The year in which this process was last undertaken:| TONY HALE, THE REVIEW OF THE CEO'S COMPENSATION IS A FUNCTION OF THE BOARD OF DIRECTORS,. ANNUALLY, THE BOARD REVIEWS THE PERFORMANCE OF THE CEO AND USES AN EXECUTIVE COMPENSATION SURVEY AS A GUIDE FOR SETTING CEO COMPENSATION RELATIVE TO JOB PERFORMANCE. THE ORGANIZATION USES A THIRD PARTY TO EVALUATE AND SET APPROPRIATE PAY RANGES FOR ALL OTHER POSITIONS BASED ON REGIONAL MARKET DATA. THE BOARD APPROVES THE ENTIRE PAYROLL BUDGET., 2017|

Part VI, Section C, Line 19

Documents are available upon request, the credit union's financial statements are available for public viewing on the ncua website, via the quarterly 5300 filing.

Filing and Contact Details

Filer

Filer Name
Texell Credit Union
EIN
74-1109882
In Care Of
% TONY HALE
Phone
2547731604
Address
P O BOX 983, TEMPLE, TX 76503

Signing Officer

Name
George Ferretti
Title
CFO
Phone
2547745110
Signed
2018-05-18

Organization Details

Principal Officer
Tony Hale
Formed
1948
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
189
Volunteers
9
Supplemental Narrative

Additional Explanations

Part XII, Line 2C

The board of directors for texell will be responsible for oversight of the audit and review.

Financial Statement Notes

Part X, line 2

The credit union is exempt, by statute, from federal income taxes on income related to the exempt purpose of the credit union. The income taxes topic of the fasb asc clarifies accounting for uncertainty in income taxes reported in the financial statements. The interpretation provides criteria for assessment of individual tax positions and a process for recognition and measurement of uncertain tax positions. Tax positions are evaulated on whether they meet the "more likely than not" standard for

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IRS990/OtherExpensesGrp/Desc0PROVISION FOR LOAN LOSSES

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$752$681$70.6$60.2$55.4$4.84
2023Summary only. Only limited summary data is available for this year.$690$624$65.8$51.3$46.8$4.49
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$629$566$63.2$40.9$33.1$7.78
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$563$507$55.4$32.6$25.6$7.07
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$472$423$48.4$30.2$25.9$4.33
2019Summary only. Only limited summary data is available for this year.$407$363$44.0$30.0$25.8$4.24
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$355$315$39.8$26.5$22.6$3.93
2017Detailed filing. Detailed filing data is available for this year.$332$296$35.9$23.9$22.2$1.64
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$310$276$34.2$21.1$18.6$2.46
2015Detailed filing. Detailed filing data is available for this year.$276$244$31.8$19.4$16.1$3.28
2014Detailed filing. Detailed filing data is available for this year.$240$212$28.5$18.4$14.4$4.06
2013Detailed filing. Detailed filing data is available for this year.$226$201$24.4$17.1$13.5$3.65
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$206$185$20.9$12.4
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$170$1.86$168$11.1