Civic Intelligence

Fivepoint Credit Union

990 • Fiscal year 2014 • EIN 74-1109889

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 03, 2015

Organization ProfileWWW.FIVEPOINTCU.ORG

View Organization Page

3700 Skyline DrNederland, TX 77627-1366

(409) 726-8300

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.88x

Higher debt load relative to assets than 32% of similar nonprofits.

2014 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2014

Liabilities / Revenue

10th percentile

12.41x

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

2014 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2014

Net Margin

47th percentile

14%

Higher net margin than 47% of similar nonprofits.

2014 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2014

Top Officer Pay

59th percentile

$412,827

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

2014 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2014

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Balance Sheet
Liabilities / Assets32nd percentile

Assets

$475,487,418

No earlier filing loaded for comparison.

Net Assets

$55,986,897

No earlier filing loaded for comparison.

Liabilities

$419,500,521

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue10th percentileNet Margin47th percentile

Revenue

$33,804,866

No earlier filing loaded for comparison.

Expenses

$29,033,889

No earlier filing loaded for comparison.

Net Income

$4,770,977

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$1.0B$500M$0Assets 2014: $475,487,418Liabilities 2014: $419,500,521Net Assets 2014: $55,986,8972014Assets 2015: $507,188,863Liabilities 2015: $447,501,947Net Assets 2015: $59,686,9162015Assets 2016: $544,211,928Liabilities 2016: $479,350,214Net Assets 2016: $64,861,7142016Assets 2017: $638,392,794Liabilities 2017: $571,540,789Net Assets 2017: $66,852,0052017Assets 2018: $600,855,416Liabilities 2018: $530,708,227Net Assets 2018: $70,147,1892018Assets 2019: $672,374,560Liabilities 2019: $597,333,842Net Assets 2019: $75,040,7182019Assets 2020: $772,281,463Liabilities 2020: $693,718,388Net Assets 2020: $78,563,0752020Assets 2021: $833,470,409Liabilities 2021: $751,155,135Net Assets 2021: $82,315,2742021Assets 2022: $874,862,124Liabilities 2022: $800,708,884Net Assets 2022: $74,153,2402022Assets 2023: $940,698,707Liabilities 2023: $864,661,283Net Assets 2023: $76,037,4242023Assets 2024: $987,167,081Liabilities 2024: $907,001,377Net Assets 2024: $80,165,7042024

Highlighted filing

2014

Assets$475,487,418
Liabilities$419,500,521
Net Assets$55,986,897
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$80M$60M$40M$20M$0Revenue 2014: $33,804,866Expenses 2014: $29,033,889Net Income 2014: $4,770,9772014Revenue 2015: $36,130,754Expenses 2015: $31,662,713Net Income 2015: $4,468,0412015Revenue 2016: $39,274,110Expenses 2016: $34,536,631Net Income 2016: $4,737,4792016Revenue 2017: $38,551,666Expenses 2017: $36,967,526Net Income 2017: $1,584,1402017Revenue 2018: $41,733,318Expenses 2018: $37,994,725Net Income 2018: $3,738,5932018Revenue 2019: $43,663,158Expenses 2019: $40,133,358Net Income 2019: $3,529,8002019Revenue 2020: $43,125,842Expenses 2020: $40,913,732Net Income 2020: $2,212,1102020Revenue 2021: $45,891,302Expenses 2021: $40,066,004Net Income 2021: $5,825,2982021Revenue 2022: $49,433,751Expenses 2022: $44,488,509Net Income 2022: $4,945,2422022Revenue 2023: $58,838,375Expenses 2023: $56,531,671Net Income 2023: $2,306,7042023Revenue 2024: $68,944,661Expenses 2024: $66,115,636Net Income 2024: $2,829,0252024

Highlighted filing

2014

Revenue$33,804,866
Expenses$29,033,889
Net Income$4,770,977
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 3, 2015
Return Version
2014v5.0
Gross Receipts
$36,933,516
Mission and Program Overview

Mission

To improve the quality of life for our members and the community.

To provide financial services to our membership with various loan and deposit products.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$313,381,873$334,514,604▲ $21,132,731
Investments Other Securities$53,571,903$57,431,748▲ $3,859,845
Rtn Earn Endowment Incm Other Fnds$50,733,554$55,986,897▲ $5,253,343
Savings and Temporary Cash Investments$26,034,726$37,528,388▲ $11,493,662
Land, Buildings, and Equipment, Net$23,948,151$23,551,438▼ $396,713
Cash and Non-Interest-Bearing Accounts$8,576,588$8,177,619▼ $398,969
Receivables From Officers Etc$1,742,954--
Accounts Receivable$4,949,894$1,005,688▼ $3,944,206
Prepaid Expenses and Deferred Charges$63,985$988,014▲ $924,029
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$444,118,310$475,487,418▲ $31,369,108
Other Assets Total$11,848,236$12,289,919▲ $441,683
Liabilities
Other Liabilities$390,729,127$414,652,352▲ $23,923,225
Accounts Payable and Accrued Expenses$2,635,508$4,848,169▲ $2,212,661
Deferred Revenue$20,121--
Total Liabilities$393,384,756$419,500,521▲ $26,115,765
Net Assets / Fund Balance
Total Net Assets Fund Balance$50,733,554$55,986,897▲ $5,253,343
Total Liabilities and Net Assets / Fund Balance$444,118,310$475,487,418▲ $31,369,108

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$19,518,303$5,481,125$24,999,428
Equipment$890,407$10,224,969$11,115,376
Leasehold Improvements$1,119,901$1,520,556$2,640,457
Land$1,631,458-$1,631,458
Other Land Buildings$391,369-$391,369
Other Securities$3,976,440--
Compensation and Service Providers
Top Officer Pay59th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Erik ShawCEOFT$285,989$126,838$412,827
Kenneth MillerExecutive Vice PresidentFT$182,905$26,541$209,446
Matt BorelFinancial AdvisorFT$201,624$3,782$205,406
Vicki KelleySVP, Human ResourcesFT$136,850$4,825$141,675
Kristen BellangerSVP, OperationsFT$126,644$9,641$136,285
Jennifer WebbSVP, LendingFT$130,677$2,319$132,996

Board Members and Trustees

NameTitle
Glenn JohnsonChairman
John Comeaux2nd Vice Chairman
Joe DicksonFirst Vice Chairman
Denny WinterBoard Member
Hilton Ferguson JrBoard Member
Jack ThorntonBoard Member
Jo ByrdBoard Member
Jody BriggsBoard Member
Karol RussellBoard Member
Louis AnselmoBoard Member
James SaxonSecretary Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
American Service GroupMember Mechanical Breakdown InsurancePO BOX 3400, Conroe, TX 77305$631,906
AccudataComputer Maintenance7906 N SAM HOUSTON PARK, Houston, TX 77064$446,759
FiservSoftwarePO BOX 99924, Grapevine, TX 76099$427,668
QuestmarkStatement Providers9440 KIRBY, Houston, TX 77054$406,896
Concepts UnlimitedPrinting Services1250 CAPITAL OF TW HWY S BLDG 3, Austin, TX 78746$315,334
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$32,689,711
Investment Income
$1,048,935
Other Revenue
$66,220
Change in Net Assets
$4,770,977
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$17,549,472
Salaries, Compensation, and Employee Benefits$11,474,417
Grants and Similar Amounts Paid$10,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$7,062,088
Advertising---$1,875,611
All Other Expenses---$1,750,428
Information Technology---$1,696,937
Other Employee Benefits---$1,654,740
Depreciation Depletion---$1,363,130
Office Expenses---$1,168,460
Pension Plan Contributions---$1,117,335
Occupancy---$1,098,166
Other Expenses---$1,087,764
Current Officers, Directors, Trustees, and Key Employees---$1,033,229
Payroll Taxes---$607,025
Insurance---$263,159
Travel---$202,522
Fees for Services Other---$196,078
Fees for Services Legal---$115,601
Fees for Services Accounting---$57,232
Grants to Domestic Individuals---$10,000
Interest---$24
Total Functional Expenses$0$0$0$29,033,889
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$1,742,954--
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Members Share Accounts$414,652,352
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 6

“Every client that has an account with our credit union is also a member.”

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

“Our board of directors are elected by a vote of the membership. Annually, if there is an open position, the nominating committee will put forth the candidates which our members can vote on during the annual meeting.”

Form 990, Part VI, Section B, Line 11

“Form 990 is reviewed by erik shaw, ceo, kenneth miller, evp, and vicki kelley, svp of human resources for its accuracy.”

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

“Our compliance officer along with senior management review policies annually. We then require employees to sign they have read and understood the policies. Our internal audit department conducts audits and review to ensure compliance.”

Form 990, Part VI, Section B, Line 15

“Fivepoint utilizes a 3rd party to provide industry standard and regional specific salary ranges for all staff.”

Form 990, Part VI, Section C, Line 19

“Our financial statements are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Fivepoint Credit Union
EIN
74-1109889
Phone
4097268300
Address
3700 SKYLINE DR, NEDERLAND, TX 77627-1366

Signing Officer

Name
Kenneth Miller
Title
Executive Vice President
Phone
4097268200
Signed
2015-11-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Erik Shaw
Formed
1935
Legal Domicile
TX
Voting Board Members
11
Independent Board Members
11
Employees
205
Volunteers
16

Preparer

Firm
Doeren Mayhew
Address
305 WEST BIG BEAVER ROAD, TROY, MI 48084
Preparer
Robin D Hoag CPA
Phone
2482443000
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

“Our cuso, fivepoint insurance agency, llc began operations during 2014. This is a wholly owned subsidiary of fivepoint financial services, llc, which is wholly owned by the credit union.”

Financial Statement Notes

PART X, LINE 2:

“The credit union is exempt, by statute, from federal income taxes and state income tax. The credit union is a state chartered credit union described in internal revenue code section 501(c)(14). As such, the credit union is exempt from federal taxation of income derived from the performance of activities that are in furtherance of its exempt purposes. However, irc section 511 imposes a tax on the unrelated business income (as defined in section 512) derived by state chartered credit unions. Many states have similar laws. The specific application of section 512 to the various activities conducted by state chartered credit unions has been an issue for many years. In 2007, the internal revenue service ("irs") issued a series of technical advice memoranda ("tam") to a number of state chartered credit unions located throughout the country. In these tams, the irs ruled certain products and services to be subject to taxation as unrelated business income. In light of the tams, the credit union has assessed its activities and any potential federal or state income tax liability. In the opinion of management, any liability arising from federal or state taxation of activities deemed to be unrelated to its exempt purpose is not expected to have a material effect on the credit union's financial condition or results of operations.”

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt11392817
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt12204621
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt13136850
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt14126644
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt15130677
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt16202218
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt1SECRETARY TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2FIRST VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt32ND VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt12EXECUTIVE VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt13SVP, HUMAN RESOURCES
IRS990/Form990PartVIISectionAGrp/TitleTxt14SVP, OPERATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt15SVP, LENDING
IRS990/Form990PartVIISectionAGrp/TitleTxt16FINANCIAL ADVISOR
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IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt0-238796
IRS990/GamingActivitiesInd00
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IRS990/GrantsToDomesticIndividualsGrp/TotalAmt010000
IRS990/GrantsToIndividualsInd01
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/OtherAmt02889854
IRS990/GrossReceiptsAmt036933516
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt011
IRS990/IndivRcvdGreaterThan100KCnt06
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/TotalAmt01696937
IRS990/InsuranceGrp/TotalAmt0263159
IRS990/InterestGrp/TotalAmt024
IRS990/InvestmentIncomeGrp/ExclusionAmt01287731
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt01287731
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt053571903
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt057431748
IRS990/IRPDocumentCnt01155
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt017226650
IRS990/LandBldgEquipBasisNetGrp/BOYAmt023948151
IRS990/LandBldgEquipBasisNetGrp/EOYAmt023551438
IRS990/LandBldgEquipCostOrOtherBssAmt040778088
IRS990/LegalDomicileStateCd0TX
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt03128650
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd01
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO IMPROVE THE QUALITY OF LIFE FOR OUR MEMBERS AND THE COMMUNITY.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt050733554
IRS990/NetAssetsOrFundBalancesEOYAmt055986897
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-238796
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-238796
IRS990/NetUnrelatedBusTxblIncmAmt02409
IRS990/NetUnrlzdGainsLossesInvstAmt0482366
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt01098166
IRS990/OfficeExpensesGrp/TotalAmt01168460
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt011848236
IRS990/OtherAssetsTotalGrp/EOYAmt012289919
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt01654740
IRS990/OtherExpensesGrp/Desc0INTEREST AND DIVIDENDS
IRS990/OtherExpensesGrp/Desc1PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc2ATM EXPENSE
IRS990/OtherExpensesGrp/Desc3LOAN SERVICING EXPENSE
IRS990/OtherExpensesGrp/TotalAmt02617994
IRS990/OtherExpensesGrp/TotalAmt12520409
IRS990/OtherExpensesGrp/TotalAmt21535957
IRS990/OtherExpensesGrp/TotalAmt31087764
IRS990/OtherLiabilitiesGrp/BOYAmt0390729127
IRS990/OtherLiabilitiesGrp/EOYAmt0414652352
IRS990/OtherRevenueMiscGrp/BusinessCd0525990
IRS990/OtherRevenueMiscGrp/BusinessCd1524298
IRS990/OtherRevenueMiscGrp/Desc0NON-MEMBER ATM FEES
IRS990/OtherRevenueMiscGrp/Desc1INSURANCE PRODUCTS
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt049889
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt116331
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt049889
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt116331
IRS990/OtherRevenueTotalAmt066220
IRS990/OtherSalariesAndWagesGrp/TotalAmt07062088
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0313381873
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0334514604
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt0607025
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt01117335
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt063985
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0988014
IRS990/PrincipalOfficerNm0ERIK SHAW
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1522100
IRS990/ProgramServiceRevenueGrp/Desc0LOAN RECEIVABLE
IRS990/ProgramServiceRevenueGrp/Desc1FEES AND CHARGES
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt112107282
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt020582429
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt112107282
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0177271
IRS990/PYOtherExpensesAmt02805040
IRS990/PYOtherRevenueAmt05273704
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0905117
IRS990/PYSalariesCompEmpBnftPaidAmt01740818
IRS990/PYTotalExpensesAmt04545858
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt05450975
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt01742954
IRS990/ReconcilationRevenueExpnssAmt04770977
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt050733554
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt055986897
IRS990/SavingsAndTempCashInvstGrp/BOYAmt026034726
IRS990/SavingsAndTempCashInvstGrp/EOYAmt037528388
IRS990/ScheduleBRequiredInd00
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt05481125
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt024999428
IRS990ScheduleD/EquipmentGrp/BookValueAmt0890407
IRS990ScheduleD/EquipmentGrp/DepreciationAmt010224969
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt011115376
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt01631458
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01631458
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt01119901
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt01520556
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt02640457
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0391369
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0391369
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0414652352
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBERS SHARE ACCOUNTS
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt03909851
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt135149770
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt214395687
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt33976440
IRS990ScheduleD/OtherSecuritiesGrp/Desc0NCUSIF
IRS990ScheduleD/OtherSecuritiesGrp/Desc1COLLATERALIZED MORTGAGE OBLIGATIONS
IRS990ScheduleD/OtherSecuritiesGrp/Desc2MORTGAGE BACKED SECURITIES
IRS990ScheduleD/OtherSecuritiesGrp/Desc3U.S. GOVERNMENT AND AGENCY SECURITIES
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd2F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd3F
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES AND STATE INCOME TAX. THE CREDIT UNION IS A STATE CHARTERED CREDIT UNION DESCRIBED IN INTERNAL REVENUE CODE SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE CHARTERED CREDIT UNIONS. MANY STATES HAVE SIMILAR LAWS. THE SPECIFIC APPLICATION OF SECTION 512 TO THE VARIOUS ACTIVITIES CONDUCTED BY STATE CHARTERED CREDIT UNIONS HAS BEEN AN ISSUE FOR MANY YEARS. IN 2007, THE INTERNAL REVENUE SERVICE ("IRS") ISSUED A SERIES OF TECHNICAL ADVICE MEMORANDA ("TAM") TO A NUMBER OF STATE CHARTERED CREDIT UNIONS LOCATED THROUGHOUT THE COUNTRY. IN THESE TAMS, THE IRS RULED CERTAIN PRODUCTS AND SERVICES TO BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN LIGHT OF THE TAMS, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY. IN THE OPINION OF MANAGEMENT, ANY LIABILITY ARISING FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL CONDITION OR RESULTS OF OPERATIONS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt023551438
IRS990ScheduleD/TotalBookValueSecuritiesAmt057431748
IRS990ScheduleD/TotalLiabilityAmt0414652352
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt010000

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$475,487,418
Liabilities
$419,500,521
Net assets
$55,986,897
Revenue
$33,804,866
Expenses
$29,033,889
Net income
$4,770,977
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$987$907$80.2$68.9$66.1$2.83
2023Detailed filing. Detailed filing data is available for this year.$941$865$76.0$58.8$56.5$2.31
2022Detailed filing. Detailed filing data is available for this year.$875$801$74.2$49.4$44.5$4.95
2021Detailed filing. Detailed filing data is available for this year.$833$751$82.3$45.9$40.1$5.83
2020Detailed filing. Detailed filing data is available for this year.$772$694$78.6$43.1$40.9$2.21
2019Detailed filing. Detailed filing data is available for this year.$672$597$75.0$43.7$40.1$3.53
2018Detailed filing. Detailed filing data is available for this year.$601$531$70.1$41.7$38.0$3.74
2017Detailed filing. Detailed filing data is available for this year.$638$572$66.9$38.6$37.0$1.58
2016Detailed filing. Detailed filing data is available for this year.$544$479$64.9$39.3$34.5$4.74
2015Detailed filing. Detailed filing data is available for this year.$507$448$59.7$36.1$31.7$4.47
2014Detailed filing. Detailed filing data is available for this year.$475$420$56.0$33.8$29.0$4.77