Civic Intelligence

Mct Credit Union

EIN 74-1255147 • 501(c)14 • Port Neches, TX

View Organization Page

Profile

To provide financial services, loan, and deposit products that will meet needs and expectations of the field of membership and provide a fair and equitable return to the credit union. To grow the field of membership by aggressively pursuing all persons in need of financial products and services by continually enhancing products to better serve the field of membership.

PO Box 279Port Neches, TX 77651

www.mctcu.org

Siviq Scores

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

Liabilities / Assets

61st percentile

0.91x

Higher debt load relative to assets than 61% of similar nonprofits.

501(c)14 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

44th percentile

15.00x

Higher debt load relative to revenue than 44% of similar nonprofits.

501(c)14 • $250M-$1B nonprofits • Source year 2024

Net Margin

25th percentile

4.8%

Higher net margin than 25% of similar nonprofits.

501(c)14 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

68th percentile

$653,984

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 3.0% of source-year revenue.

$250M-$1B nonprofits • Source year 2024

Asset Growth

32nd percentile

0.8%

Faster asset growth than 32% of similar nonprofits.

501(c)14 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

18th percentile

7.1%

Faster revenue growth than 18% of similar nonprofits.

501(c)14 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets61st percentile

Assets

Up

$358,623,991

Up $2,894,398 (+0.8%) from 2023

Liabilities

Up

$326,119,045

Up $195,063 (+0.1%) from 2023

Net Assets

Up

$32,504,946

Up $2,699,335 (+9.1%) from 2023

Operations
Liabilities / Revenue44th percentileNet Margin25th percentile

Revenue

Up

$21,743,927

Up $1,436,353 (+7.1%) from 2023

Expenses

Up

$20,690,246

Up $1,389,201 (+7.2%) from 2023

Net Income

Up

$1,053,681

Up $47,152 (+4.7%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth32nd percentile

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

$400M$300M$200M$100M$0Assets 2010: $196,618,649Liabilities 2010: $178,598,269Net Assets 2010: $18,020,3802010Assets 2011: $204,518,178Liabilities 2011: $186,063,210Net Assets 2011: $18,454,9682011Assets 2012: $216,469,215Liabilities 2012: $197,383,836Net Assets 2012: $19,085,3792012Assets 2013: $222,344,809Liabilities 2013: $201,728,567Net Assets 2013: $20,616,2422013Assets 2014: $234,311,562Liabilities 2014: $211,295,939Net Assets 2014: $23,015,6232014Assets 2015: $245,978,369Liabilities 2015: $222,724,259Net Assets 2015: $23,254,1102015Assets 2016: $255,470,758Liabilities 2016: $232,157,797Net Assets 2016: $23,312,9612016Assets 2017: $315,914,429Liabilities 2017: $289,732,320Net Assets 2017: $26,182,1092017Assets 2018: $295,924,955Liabilities 2018: $268,225,038Net Assets 2018: $27,699,9172018Assets 2019: $299,976,930Liabilities 2019: $269,499,419Net Assets 2019: $30,477,5112019Assets 2020: $357,012,507Liabilities 2020: $326,482,978Net Assets 2020: $30,529,5292020Assets 2021: $363,107,409Liabilities 2021: $331,175,018Net Assets 2021: $31,932,3912021Assets 2022: $355,819,917Liabilities 2022: $329,151,009Net Assets 2022: $26,668,9082022Assets 2023: $355,729,593Liabilities 2023: $325,923,982Net Assets 2023: $29,805,6112023Assets 2024: $358,623,991Liabilities 2024: $326,119,045Net Assets 2024: $32,504,9462024

Highlighted filing

2024

Assets$358,623,991
Liabilities$326,119,045
Net Assets$32,504,946
Open 2024 Filing

Operations Trend

Revenue Growth18th percentile

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

$30M$20M$10M$0Expenses 2010: $13,129,3232010Revenue 2011: $13,862,856Expenses 2011: $12,967,244Net Income 2011: $895,6122011Expenses 2012: $12,694,4472012Revenue 2013: $13,853,196Expenses 2013: $12,672,310Net Income 2013: $1,180,8862013Revenue 2014: $14,088,285Expenses 2014: $12,617,467Net Income 2014: $1,470,8182014Revenue 2015: $14,487,809Expenses 2015: $12,869,835Net Income 2015: $1,617,9742015Revenue 2016: $14,535,178Expenses 2016: $13,783,792Net Income 2016: $751,3862016Revenue 2017: $15,728,686Expenses 2017: $13,722,320Net Income 2017: $2,006,3662017Revenue 2018: $16,112,684Expenses 2018: $14,161,193Net Income 2018: $1,951,4912018Revenue 2019: $16,421,061Expenses 2019: $14,070,079Net Income 2019: $2,350,9822019Revenue 2020: $15,531,663Expenses 2020: $14,415,621Net Income 2020: $1,116,0422020Revenue 2021: $15,984,837Expenses 2021: $14,634,518Net Income 2021: $1,350,3192021Revenue 2022: $17,733,954Expenses 2022: $16,167,383Net Income 2022: $1,566,5712022Revenue 2023: $20,307,574Expenses 2023: $19,301,045Net Income 2023: $1,006,5292023Revenue 2024: $21,743,927Expenses 2024: $20,690,246Net Income 2024: $1,053,6812024

Highlighted filing

2024

Revenue$21,743,927
Expenses$20,690,246
Net Income$1,053,681
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$358,623,991
Liabilities
$326,119,045
Net assets
$32,504,946
Revenue
$21,743,927
Expenses
$20,690,246
Net income
$1,053,681
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$359$326$32.5$21.7$20.7$1.05
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$356$326$29.8$20.3$19.3$1.01
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$356$329$26.7$17.7$16.2$1.57
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$363$331$31.9$16.0$14.6$1.35
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$357$326$30.5$15.5$14.4$1.12
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$300$269$30.5$16.4$14.1$2.35
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$296$268$27.7$16.1$14.2$1.95
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$316$290$26.2$15.7$13.7$2.01
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$255$232$23.3$14.5$13.8$0.75
2015Detailed filing. Detailed filing data is available for this year.$246$223$23.3$14.5$12.9$1.62
2014Detailed filing. Detailed filing data is available for this year.$234$211$23.0$14.1$12.6$1.47
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$222$202$20.6$13.9$12.7$1.18
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$216$197$19.1$12.7
2011Summary only. Only limited summary data is available for this year.$205$186$18.5$13.9$13.0$0.90
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$197$179$18.0$13.1
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 13, 2025
Return Version
2024v5.2
Gross Receipts
$21,873,404
Mission and Program Overview

Mission

To provide financial services, loan, and deposit products that will meet needs and expectations of the field of membership and provide a fair and equitable return to the credit union. To grow the field of membership by aggressively pursuing all persons in need of financial products and services by continually enhancing products to better serve the field of membership.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$232,895,931$228,111,190▼ $4,784,741
Investments in Publicly Traded Securities$81,870,566$72,660,747▼ $9,209,819
Rtn Earn Endowment Incm Other Fnds$29,805,611$32,504,946▲ $2,699,335
Savings and Temporary Cash Investments$2,071,299$18,763,152▲ $16,691,853
Land, Buildings, and Equipment, Net$11,142,328$12,165,190▲ $1,022,862
Receivables From Officers Etc$4,338,534$4,442,594▲ $104,060
Investments Program Related$5,319,400$4,149,500▼ $1,169,900
Cash and Non-Interest-Bearing Accounts$4,337,196$3,299,134▼ $1,038,062
Prepaid Expenses and Deferred Charges$661,951$597,296▼ $64,655
Accounts Receivable$93,100$94,692▲ $1,592
Investments Other Securities$47,846$39,286▼ $8,560
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$355,729,593$358,623,991▲ $2,894,398
Other Assets Total$12,951,442$14,301,210▲ $1,349,768
Liabilities
Other Liabilities$312,851,191$321,859,880▲ $9,008,689
Mortgage Notes Payable Secured by Investment Property$8,275,000--
Accounts Payable and Accrued Expenses$4,797,791$4,259,165▼ $538,626
Total Liabilities$325,923,982$326,119,045▲ $195,063
Net Assets / Fund Balance
Total Net Assets Fund Balance$29,805,611$32,504,946▲ $2,699,335
Total Liabilities and Net Assets / Fund Balance$355,729,593$358,623,991▲ $2,894,398

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$8,865,488$5,437,199$14,302,687
Equipment$1,240,950$2,632,428$3,873,378
Land$2,058,752-$2,058,752
Compensation and Service Providers
Top Officer Pay68th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Thaddeus AngellePresident/CEOFT$352,942$301,042$653,984
Karen FrederickCOOFT$196,088$151,395$347,483
Chad PowellEvp/CFOFT$220,488$71,836$292,324
Keith DoucetVP of Business LendingFT$176,115$52,733$228,848
Kayla AllbrittonSVP of OperationsFT$153,083$44,886$197,969
Michael FrazierVP ItFT$127,721$67,026$194,747
Shanda RojasVP Consumer LendingFT$120,442$42,402$162,844
Brandy ColungaVice President Human ResouFT$129,429$32,132$161,561

Board Members and Trustees

NameTitle
Dr George ScottBoard Chairman
Trent DevenzioVice Chairman
Rebecca DemeterBoard Secretary/treasurer
Deborah NorrisDirector
James Myers JrDirector
Kimberly PittsDirector
Michael LairdDirector
Randy BrownDirector
Randy ChanceDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Consruction Zone Of Southeast Texas LLCBranch Construction/remodeling1420 SPRINGHILL ROAD, Aubrey, TX 76227$1,018,701
VeleraCredit And Debit Card Processing580 CARILLON PKWY, St Petersburg, FL 33716$743,079
Jack Henry And AssociatesCredit Union Core Data Processing System663 W HWY 60, Monett, MO 65708$720,427
Discovery Information Technologies INCInformation Technology Managed Services904 HWY 69, Nederland, TX 77627$637,871
Kasasa LtdReward Checking And Saving Account Proce6504 BRIDGE POINT PKWY 500, Austin, TX 78730$446,080
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$18,186,316
Investment Income
$3,042,461
Other Revenue
$515,150
Change in Net Assets
$1,053,681
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$9,486,842
Salaries, Compensation, and Employee Benefits$7,705,349
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$5,343,788
Office Expenses---$3,761,390
Benefits to Members---$3,498,055
Current Officers, Directors, Trustees, and Key Employees---$1,293,791
Fees for Service Investment Mgmnt Fees---$917,460
Fees for Services Other---$750,974
Occupancy---$727,588
Depreciation Depletion---$656,718
Other Employee Benefits---$639,159
Payroll Taxes---$428,611
Travel---$303,965
Interest---$101,519
Fees for Services Accounting---$83,476
Other Expenses---$62,891
All Other Expenses---$47,996
Fees for Services Legal---$27,906
Insurance---$6,517
Total Functional Expenses$0$0$0$20,690,246
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$4,338,534$4,442,594▲ $104,060
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Share Drafts$102,779,928
Regular Shares$82,047,953
Other Shares$75,942,782
Share Certificates$33,787,210
Money Market Shares$20,251,227
Ira/keough Accounts$7,050,780
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
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

“The credit union has members who each own a share of the credit union. The members of the credit union elect the governing body and approve any significant decisions of the governing body as directed in the credit union's by-laws.”

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

“The credit union has members who each own a share of the credit union. The members of the credit union elect the governing body and approve any significant decisions of the governing body as directed in the credit union's by-laws.”

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

“The credit union has members who each own a share of the credit union. The members of the credit union elect the governing body and approve any significant decisions of the governing body as directed in the credit union's by-laws.”

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

“Form 990 is available to the board of directors for review at the regularly scheduled monthly meeting.”

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

“Mct credit union monitors the conflict of interest policy by requiring all employees to report the potential conflicts of interest to management. Officers and key employees must report conflicts of interest to the chief executive officer. The chief executive officer and any member of the board of directors must report any potential conflicts of interest to the board chairman.”

Form 990, Part VI, Section B, Line 15

“Mct credit union's board of directors uses compease, a compensation consulting software to determine compensation. The program takes several factors into account such as specific job responsibilities and local market conditions when determining recommended compensation. Management presents the data from compease each year with a recommendation to the board of directors for approval. The process described here was last completed in 2024.”

Form 990, Part VI, Section C, Line 19

“Mct credit union will provide copies of the governing documents and conflict of interest policy upon request. Mct credit union posts the balance sheet in the lobby of each branch location monthly. The credit union also publishes the yearly financial statements in an annual report to the membership.”

Filing and Contact Details

Filer

Filer Name
Mct Credit Union
EIN
74-1255147
Phone
4097271446
Address
PO BOX 279, PORT NECHES, TX 77651

Signing Officer

Name
Chad Powell
Title
Evp/CFO
Phone
4097271446
Signed
2025-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Deborah Norris
Formed
1953
Legal Domicile
TX
Voting Board Members
9
Independent Board Members
9
Employees
105
Volunteers
11

Preparer

Firm
Cliftonlarsonallen Llp
Address
109 N MAIN STREET SUITE 200, AUSTIN, MN 55912
Preparer
Tanya Medgaarden
Phone
5074347000
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2B

“Audited financial statements - the audit was done as of 3/31. Therefore, the reporting period for the audit does not match the reporting period for the 990.”

Form 990, Part XII, Line 2C

“This process has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The credit union is exempt, under internal revenue code (irc) 501(c)(14), from federal and state income taxes. However, irc section 511 imposes a tax on the unrelated business income (ubi) derived by state-chartered credit unions. Beginning in march 2008, the internal revenue service (irs) released technical advice memorandums (tams) to specific state-chartered credit unions specifying the revenue sources subject to unrelated business income tax (ubit). Ubit may also be subject to tax in certain states. Management has assessed the credit union's activities and any potential federal or state income tax liability and determined that the credit union has no uncertain tax positions that qualify for either recognition or disclosure in the consolidated financial statements. Additionally, no interest and penalties have been recorded in the accompanying consolidated financial statements related to uncertain tax positions. The creidt union has filed tax returns for 2023 and 2024 for all activities deemed taxable. The taxing authorities have the ability to assess taxes, penalties, and interest for any years for which no tax return was filed. In the opinion of management, any liability resulting from taxing authorities imposing income taxes on the net taxable income from activities potentially deemed to be unrelated to the credit union's exempt purpose is not expected to have a material effect on the credit union's financial position or results of operations. Tax positions are evaluated on whether they meet the "more likely than not" standard for sustainability upon examination by tax uncertainties. The credit union evaluated its tax positions and determined no uncertain tax positions exist as of march 31, 2024 and 2025. The credit union's 2021 through 2024 tax years are open for examination by federal and state taxing authorities.”

Raw XML AppendixShowing 400 of 664 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/BOYAmt04797791
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt04259165
IRS990/AccountsReceivableGrp/BOYAmt093100
IRS990/AccountsReceivableGrp/EOYAmt094692
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0TO PROVIDE FINANCIAL SERVICES, LOAN, AND DEPOSIT PRODUCTS THAT WILL MEET NEEDS AND EXPECTATIONS OF THE FIELD OF MEMBERSHIP AND PROVIDE A FAIR AND EQUITABLE RETURN TO THE CREDIT UNION. TO GROW THE FIELD OF MEMBERSHIP BY AGGRESSIVELY PURSUING ALL PERSONS IN NEED OF FINANCIAL PRODUCTS AND SERVICES BY CONTINUALLY ENHANCING PRODUCTS TO BETTER SERVE THE FIELD OF MEMBERSHIP.
IRS990/AllOtherExpensesGrp/TotalAmt047996
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/BackupWthldComplianceInd01
IRS990/BenefitsToMembersGrp/TotalAmt03498055
IRS990/BooksInCareOfDetail/PersonNm0CHAD POWELL
IRS990/BooksInCareOfDetail/PhoneNum04097271446
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt02736 NALL STREET
IRS990/BooksInCareOfDetail/USAddress/CityNm0PORT NECHES
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0TX
IRS990/BooksInCareOfDetail/USAddress/ZIPCd077651
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CapStkTrPrinCurrentFundsGrp/BOYAmt00
IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt00
IRS990/CashNonInterestBearingGrp/BOYAmt04337196
IRS990/CashNonInterestBearingGrp/EOYAmt03299134
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt016
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt01293791
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd01
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/ContractorCompensationGrp/CompensationAmt01018701
IRS990/ContractorCompensationGrp/CompensationAmt1743079
IRS990/ContractorCompensationGrp/CompensationAmt2720427
IRS990/ContractorCompensationGrp/CompensationAmt3637871
IRS990/ContractorCompensationGrp/CompensationAmt4446080
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt01420 SPRINGHILL ROAD
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt1580 CARILLON PKWY
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt2663 W HWY 60
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt3904 HWY 69
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt46504 BRIDGE POINT PKWY 500
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm0AUBREY
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm1ST PETERSBURG
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm2MONETT
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm3NEDERLAND
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm4AUSTIN
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd0TX
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd1FL
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd2MO
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd3TX
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd4TX
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd076227
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd133716
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd265708
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd377627
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd478730
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt0CONSRUCTION ZONE OF SOUTHEAST TEXAS LLC
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt1VELERA
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt2JACK HENRY AND ASSOCIATES
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt3DISCOVERY INFORMATION TECHNOLOGIES INC
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt4KASASA LTD
IRS990/ContractorCompensationGrp/ServicesDesc0BRANCH CONSTRUCTION/REMODELING
IRS990/ContractorCompensationGrp/ServicesDesc1CREDIT AND DEBIT CARD PROCESSING
IRS990/ContractorCompensationGrp/ServicesDesc2CREDIT UNION CORE DATA PROCESSING SYSTEM
IRS990/ContractorCompensationGrp/ServicesDesc3INFORMATION TECHNOLOGY MANAGED SERVICES
IRS990/ContractorCompensationGrp/ServicesDesc4REWARD CHECKING AND SAVING ACCOUNT PROCE
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt03498055
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt03042461
IRS990/CYOtherExpensesAmt09486842
IRS990/CYOtherRevenueAmt0515150
IRS990/CYProgramServiceRevenueAmt018186316
IRS990/CYRevenuesLessExpensesAmt01053681
IRS990/CYSalariesCompEmpBnftPaidAmt07705349
IRS990/CYTotalExpensesAmt020690246
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt021743927
IRS990/DecisionsSubjectToApprovaInd01
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/TotalAmt0656718
IRS990/Desc0THE CREDIT UNION HAD 2,104 NEW MEMBERS JOIN IN 2024. THE CREDIT UNION OPENED 7,161 DEPOSIT ACCOUNTS IN 2024. THE CREDIT UNION OFFERS A VARIETY OF DEPOSIT ACCOUNT OPTIONS INCLUDING SHARE ACCOUNTS, SHARE DRAFT ACCOUNTS, MONEY MARKET ACCOUNTS, INDIVIDUAL RETIREMENT ACCOUNTS (IRA'S), AND CERTIFICATE OF DEPOSIT ACCOUNTS WITH VERY COMPETITIVE INTEREST RATES. THE CREDIT UNION HAS SIX BRANCH LOCATIONS AS WELL AS A SHARED BRANCH PROGRAM, A 24 HOUR CALL CENTER, ONLINE BANKING AND BILL PAY OFFERED AT NO CHARGE TO THE MEMBERSHIP.
IRS990/DescribedInSection501c3Ind00
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DonorAdvisedFundInd00
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd01
IRS990/EmployeeCnt0105
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
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IRS990/Form990PartVIISectionAGrp/TitleTxt12VP OF BUSINESS LENDING
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IRS990/Form990PartVIISectionAGrp/TitleTxt14VP IT
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IRS990/MissionDesc0TO PROVIDE FINANCIAL SERVICES, LOAN, AND DEPOSIT PRODUCTS THAT WILL MEET NEEDS AND EXPECTATIONS OF THE FIELD OF MEMBERSHIP AND PROVIDE A FAIR AND EQUITABLE RETURN TO THE CREDIT UNION. TO GROW THE FIELD OF MEMBERSHIP BY AGGRESSIVELY PURSUING ALL PERSONS IN NEED OF FINANCIAL PRODUCTS AND SERVICES BY CONTINUALLY ENHANCING PRODUCTS TO BETTER SERVE THE FIELD OF MEMBERSHIP.
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IRS990/OtherExpensesGrp/Desc2PROVISION FOR CREDIT LO
IRS990/OtherExpensesGrp/Desc3MISC. OPERATING EXPENSE
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IRS990/ProgramServiceRevenueGrp/Desc2FEES & CHARGES
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IRS990/ProgSrvcAccomActy2Grp/Desc0THE CREDIT UNION OFFERS CONSUMER LOANS, MORTGAGE LOANS, AND BUSINESS LOANS TO MEMBERSHIP. THE CREDIT UNION GRANTED 1,719 LOANS FOR $80,491,151 TO ITS MEMBERSHIP IN 2024.
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0REGULAR SHARES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1SHARE DRAFTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2MONEY MARKET SHARES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3SHARE CERTIFICATES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4IRA/KEOUGH ACCOUNTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc5OTHER SHARES
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION IS EXEMPT, UNDER INTERNAL REVENUE CODE (IRC) 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (UBI) DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE (IRS) RELEASED TECHNICAL ADVICE MEMORANDUMS (TAMS) TO SPECIFIC STATE-CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). UBIT MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. MANAGEMENT HAS ASSESSED THE CREDIT UNION'S ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY AND DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. THE CREIDT UNION HAS FILED TAX RETURNS FOR 2023 AND 2024 FOR ALL ACTIVITIES DEEMED TAXABLE. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES, AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY UPON EXAMINATION BY TAX UNCERTAINTIES. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF MARCH 31, 2024 AND 2025. THE CREDIT UNION'S 2021 THROUGH 2024 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalLiabilityAmt0321859880
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/ClubDuesOrFeesInd0X
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/CompensationSurveyInd0X

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