Civic Intelligence

Mct Credit Union

990 • Fiscal year 2014 • EIN 74-1255147

Jan 01, 2014 to Dec 31, 2014 • Filed on Jul 29, 2015

Organization ProfileWWW.MCTCU.ORG

View Organization Page

2736 Nall StreetPort Neches, TX 77651

(409) 727-1446

Siviq Scores

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

Liabilities / Assets

61st percentile

0.90x

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

2014 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2014

Liabilities / Revenue

23rd percentile

15.00x

Higher debt load relative to revenue than 23% of similar nonprofits.

2014 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2014

Net Margin

46th percentile

10%

Higher net margin than 46% of similar nonprofits.

2014 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2014

Top Officer Pay

87th percentile

$293,930

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

2014 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2014

Asset Growth

66th percentile

5.4%

Faster asset growth than 66% of similar nonprofits.

2014 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2013 to 2014

Revenue Growth

47th percentile

1.7%

Faster revenue growth than 47% of similar nonprofits.

2014 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets61st percentile

Assets

Up

$234,311,562

Up $11,966,753 (+5.4%) from 2013

Net Assets

Up

$23,015,623

Up $2,399,381 (+12%) from 2013

Liabilities

Up

$211,295,939

Up $9,567,372 (+4.7%) from 2013

Revenue And Expenses
Liabilities / Revenue23rd percentileNet Margin46th percentile

Revenue

Up

$14,088,285

Up $235,089 (+1.7%) from 2013

Expenses

Down

$12,617,467

Down $54,843 (-0.4%) from 2013

Net Income

Up

$1,470,818

Up $289,932 (+25%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth66th percentile

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

$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

2014

Assets$234,311,562
Liabilities$211,295,939
Net Assets$23,015,623
Open 2014 Filing

Operations Trend

Revenue Growth47th percentile

Revenue, expenses, and net income across loaded years, with this 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

2014

Revenue$14,088,285
Expenses$12,617,467
Net Income$1,470,818
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Jul 29, 2015
Return Version
2014v5.0
Gross Receipts
$14,443,472
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$155,149,654$162,036,622▲ $6,886,968
Investments Program Related$31,762,904$34,306,020▲ $2,543,116
Rtn Earn Endowment Incm Other Fnds$20,616,242$23,015,623▲ $2,399,381
Savings and Temporary Cash Investments$16,065,156$12,547,108▼ $3,518,048
Land, Buildings, and Equipment, Net$8,567,216$8,344,304▼ $222,912
Investments in Publicly Traded Securities-$5,176,200-
Cash and Non-Interest-Bearing Accounts$2,229,864$2,187,282▼ $42,582
Receivables From Officers Etc$1,255,656$1,321,742▲ $66,086
Investments Other Securities-$744,379-
Prepaid Expenses and Deferred Charges$288,087$360,154▲ $72,067
Accounts Receivable$1,002,731$139,717▼ $863,014
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$222,344,809$234,311,562▲ $11,966,753
Other Assets Total$6,023,541$7,148,034▲ $1,124,493
Liabilities
Other Liabilities$197,221,425$206,233,603▲ $9,012,178
Accounts Payable and Accrued Expenses$4,507,142$5,062,336▲ $555,194
Total Liabilities$201,728,567$211,295,939▲ $9,567,372
Net Assets / Fund Balance
Total Net Assets Fund Balance$20,616,242$23,015,623▲ $2,399,381
Total Liabilities and Net Assets / Fund Balance$222,344,809$234,311,562▲ $11,966,753

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,614,497$2,624,247$9,238,744
Equipment$436,236$2,289,163$2,725,399
Land$1,293,571-$1,293,571
Investment Program Related Org$34,306,020--
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Thad AngellePresident/CEOFT$188,951$104,979$293,930
Mary FadhliExecutive Vice PresidentFT$153,579$133,934$287,513
Karen FrederickControllerFT$108,612$59,763$168,375
Chad PowellCFOFT$89,471$71,733$161,204
Michelene MoodySenior Vice President/branch ExecutiveFT$118,779$26,200$144,979

Board Members and Trustees

NameTitle
Charles LankfordDirector
Deborah NorrisDirector
James Myers JrDirector
Michael GuidryDirector
Michael LairdDirector
Peggy DelahoussayeDirector
Randy BrownDirector
Randy ChanceDirector
Randy LuptonDirector
Rebecca DemeterDirector
Yvonne GrimesDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
American National InsuranceCredit Life And DisabilityPO BOX 696785, San Antonio, TX 78269$468,074
Third Degree Advertising And CommunicatiMarketing Services501 N WALKER, Oklahoma City, OK 73102$410,447
Jack Henry And AssociatesData ProcessingPO BOX 609, Monett, MO 65708$352,722
TransfundDebit Card ProcessingPO BOX 2300, Tulsa, OK 74102$315,615
American Service GroupAuto WarrantiesPO BOX 3400, Conroe, TX 77305$300,904
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$13,670,025
Investment Income
$418,260
Other Revenue
$0
Change in Net Assets
$1,470,818
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,695,619
Salaries, Compensation, and Employee Benefits$5,419,902
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$3,522,663
Office Expenses---$2,154,654
Benefits to Members---$1,501,946
Current Officers, Directors, Trustees, and Key Employees---$742,647
Fees for Services Other---$534,516
Occupancy---$534,007
Other Employee Benefits---$492,773
Information Technology---$409,526
Depreciation Depletion---$369,070
Pension Plan Contributions---$355,529
Payroll Taxes---$306,290
Conferences and Meetings---$215,533
Other Expenses---$47,815
Fees for Services Accounting---$25,628
All Other Expenses---$23,766
Fees for Services Legal---$17,272
Interest---$226
Total Functional Expenses$0$0$0$12,617,467
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Mary FadhliCU'S EXECUTIVE VPCU'S EXECUTIVE VP, MARY FADHLI, IS RELATED TO DISCOVERY INFORMATION TECHNOLOGIES, INC. (SPOUSE, ADAM FADHLI IS OWNER). THE CU CONDUCTS INFORMATION TECHNOLOGY SUPPORT AND EQUIPMENT WITH THIS ENTITY.No$288,267

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$1,255,656$1,321,742▲ $66,086
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Share Drafts$75,993,175
Regular Shares$54,117,953
Share Certificates$26,154,057
Other Shares$25,343,110
Money Market Shares$12,766,479
Ira/keough Accounts$11,858,829
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
Yes
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 2

“Family relationship - yvonne grimes and rebecca demeter”

Form 990, Part VI, Section A, Line 4

“The board voted and the state of texas approved changing the number of board members from 11 to 9.”

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 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 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 11

“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 uses several methods to determine the compensation of key employees and officers. The credit union's board of directors appoints a compensation committee to review employees compensation and make recommendations to the board of directors. The compensation committee uses salary surveys from cuna mutual group as well as other industry resources. The compensation committee also uses compease, a compensation consulting software. The program takes several factors into account such as specific job responsibilities and local market conditions when determining recommended compensation. Once the compensation committee has a recommendation, it is presented to the board of directors for approval.”

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
2736 NALL STREET, PORT NECHES, TX 77651

Signing Officer

Name
Chad Powell
Title
CFO
Phone
4097271446
Signed
2015-07-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chad Powell
Formed
1953
Legal Domicile
TX
Voting Board Members
9
Independent Board Members
9
Employees
104
Volunteers
11

Preparer

Firm
Cliftonlarsonallen Llp
Address
PO BOX 217, AUSTIN, MN 55912
Preparer
Sherri Wessels
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:

“As allowed by state regulatory authorities, the audit is done as of march 31. The reporting period for the audit, therefore, does not match the reporting period for the 990. The credit union is exempt, under irc 501 (c) (14), from federal and state income taxes. Certain products and services provided by select state chartered credit unions have been deemed by the internal revenue service (irs), in technical advice memorandums (tams) released in 2007, to be unrelated to the specific entity's exempt purpose. As presented in the technical advice memorandums the net taxable income from these products and services would be subject to income taxes. Credit unions have litigated against the irs positions noted in the tams and have been successful in having courts declare in 2009 and 2010 that revenue from insurance products sold to members, helping them protect their financial wellbeing, qualifies as exempt purpose income, contrary to the irs position in the tams. The credit union has not filed tax returns in the past since all activities are deemed non 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. The credit union evaluated its tax positions and determined no uncertain tax positions exist as of march 31, 2014 and 2013. The credit union's 2010 through 2013 tax years are open for examination by federal and state taxing authorities.”

Raw XML AppendixShowing 400 of 603 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.

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IRS990/Desc0THE CREDIT UNION HAD 2,283 NEW MEMBERS JOIN IN 2014. THE CREDIT UNION OPENED 4,654 DEPOSIT ACCOUNTS IN 2014. 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 FIVE 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.
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IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1180349
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt12114182
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1362549
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1449140
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1526200
IRS990/Form990PartVIISectionAGrp/PersonNm0RANDY BROWN
IRS990/Form990PartVIISectionAGrp/PersonNm1RANDY CHANCE
IRS990/Form990PartVIISectionAGrp/PersonNm2PEGGY DELAHOUSSAYE
IRS990/Form990PartVIISectionAGrp/PersonNm3REBECCA DEMETER
IRS990/Form990PartVIISectionAGrp/PersonNm4YVONNE GRIMES
IRS990/Form990PartVIISectionAGrp/PersonNm5MICHAEL GUIDRY
IRS990/Form990PartVIISectionAGrp/PersonNm6MICHAEL LAIRD
IRS990/Form990PartVIISectionAGrp/PersonNm7CHARLES LANKFORD
IRS990/Form990PartVIISectionAGrp/PersonNm8RANDY LUPTON
IRS990/Form990PartVIISectionAGrp/PersonNm9JAMES MYERS JR
IRS990/Form990PartVIISectionAGrp/PersonNm10DEBORAH NORRIS
IRS990/Form990PartVIISectionAGrp/PersonNm11THAD ANGELLE
IRS990/Form990PartVIISectionAGrp/PersonNm12MARY FADHLI
IRS990/Form990PartVIISectionAGrp/PersonNm13CHAD POWELL
IRS990/Form990PartVIISectionAGrp/PersonNm14KAREN FREDERICK
IRS990/Form990PartVIISectionAGrp/PersonNm15MICHELENE MOODY
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt11213581
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt12173331
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt1398655
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt14119235
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt15118779
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/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11PRESIDENT/CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt12EXECUTIVE VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt13CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt14CONTROLLER
IRS990/Form990PartVIISectionAGrp/TitleTxt15SENIOR VICE PRESIDENT/BRANCH EXECUTIVE
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/Form990TFiledInd01
IRS990/FormationYr01953
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt0-7479
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt09
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/OtherAmt0347708
IRS990/GrossReceiptsAmt014443472
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt09
IRS990/IndivRcvdGreaterThan100KCnt04
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/TotalAmt0409526
IRS990/InterestGrp/TotalAmt0226
IRS990/InvestmentIncomeGrp/ExclusionAmt0425739
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0425739
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt0744379
IRS990/InvestmentsProgramRelatedGrp/BOYAmt031762904
IRS990/InvestmentsProgramRelatedGrp/EOYAmt034306020
IRS990/InvestmentsPubTradedSecGrp/EOYAmt05176200
IRS990/IRPDocumentCnt07110
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt04913410
IRS990/LandBldgEquipBasisNetGrp/BOYAmt08567216
IRS990/LandBldgEquipBasisNetGrp/EOYAmt08344304
IRS990/LandBldgEquipCostOrOtherBssAmt013257714
IRS990/LegalDomicileStateCd0TX
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt0355187
IRS990/LoanOutstandingInd01
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
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.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt020616242
IRS990/NetAssetsOrFundBalancesEOYAmt023015623
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-7479
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-7479
IRS990/NetUnrelatedBusTxblIncmAmt024717
IRS990/NetUnrlzdGainsLossesInvstAmt0928563
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt0534007
IRS990/OfficeExpensesGrp/TotalAmt02154654
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt06023541
IRS990/OtherAssetsTotalGrp/EOYAmt07148034
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0492773
IRS990/OtherExpensesGrp/Desc0EDUCATIONAL AND PROMOTI
IRS990/OtherExpensesGrp/Desc1PROVISION FOR LOAN AND
IRS990/OtherExpensesGrp/Desc2LOAN SERVICING EXPENSE
IRS990/OtherExpensesGrp/Desc3MISC. OPERATING EXPENSE
IRS990/OtherExpensesGrp/TotalAmt0686741
IRS990/OtherExpensesGrp/TotalAmt1401500
IRS990/OtherExpensesGrp/TotalAmt2275365
IRS990/OtherExpensesGrp/TotalAmt347815
IRS990/OtherLiabilitiesGrp/BOYAmt0197221425
IRS990/OtherLiabilitiesGrp/EOYAmt0206233603
IRS990/OtherSalariesAndWagesGrp/TotalAmt03522663
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0155149654
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0162036622
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt0306290
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt0355529
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0288087
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0360154
IRS990/PrincipalOfficerNm0CHAD POWELL
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1522100
IRS990/ProgramServiceRevenueGrp/BusinessCd2524298
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INTEREST INCOME
IRS990/ProgramServiceRevenueGrp/Desc1FEES & CHARGES
IRS990/ProgramServiceRevenueGrp/Desc2OTHER OPERATING INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt09454175
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt13082059
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt21048414
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt09454175
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt13167436
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt21048414
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt085377
IRS990/ProgSrvcAccomActy2Grp/Desc0THE CREDIT UNION OFFERS CONSUMER LOANS, MORTGAGE LOANS, AND BUSINESS LOANS TO MEMBERSHIP. THE CREDIT UNION GRANTED 3,388 LOANS FOR $67,949,886 TO ITS MEMBERSHIP IN 2014.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0414256
IRS990/PYOtherExpensesAmt07244554
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt013438940
IRS990/PYRevenuesLessExpensesAmt01180886
IRS990/PYSalariesCompEmpBnftPaidAmt05427756
IRS990/PYTotalExpensesAmt012672310
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt013853196
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt01255656
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt01321742
IRS990/ReconcilationRevenueExpnssAmt01470818
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt020616242
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt023015623
IRS990/SavingsAndTempCashInvstGrp/BOYAmt016065156
IRS990/SavingsAndTempCashInvstGrp/EOYAmt012547108
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt06614497
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02624247
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt09238744
IRS990ScheduleD/EquipmentGrp/BookValueAmt0436236
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02289163
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02725399
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt034306020
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0DEPOSITS IN BANKS & OTHER CUS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/LandGrp/BookValueAmt01293571
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01293571
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt054117953
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt175993175
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt212766479
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt326154057
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt411858829
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt525343110
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/ExplanationTxt0AS ALLOWED BY STATE REGULATORY AUTHORITIES, THE AUDIT IS DONE AS OF MARCH 31. THE REPORTING PERIOD FOR THE AUDIT, THEREFORE, DOES NOT MATCH THE REPORTING PERIOD FOR THE 990. THE CREDIT UNION IS EXEMPT, UNDER IRC 501 (C) (14), FROM FEDERAL AND STATE INCOME TAXES. CERTAIN PRODUCTS AND SERVICES PROVIDED BY SELECT STATE CHARTERED CREDIT UNIONS HAVE BEEN DEEMED BY THE INTERNAL REVENUE SERVICE (IRS), IN TECHNICAL ADVICE MEMORANDUMS (TAMS) RELEASED IN 2007, TO BE UNRELATED TO THE SPECIFIC ENTITY'S EXEMPT PURPOSE. AS PRESENTED IN THE TECHNICAL ADVICE MEMORANDUMS THE NET TAXABLE INCOME FROM THESE PRODUCTS AND SERVICES WOULD BE SUBJECT TO INCOME TAXES. CREDIT UNIONS HAVE LITIGATED AGAINST THE IRS POSITIONS NOTED IN THE TAMS AND HAVE BEEN SUCCESSFUL IN HAVING COURTS DECLARE IN 2009 AND 2010 THAT REVENUE FROM INSURANCE PRODUCTS SOLD TO MEMBERS, HELPING THEM PROTECT THEIR FINANCIAL WELLBEING, QUALIFIES AS EXEMPT PURPOSE INCOME, CONTRARY TO THE IRS POSITION IN THE TAMS. THE CREDIT UNION HAS NOT FILED TAX RETURNS IN THE PAST SINCE ALL ACTIVITIES ARE DEEMED NON 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. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF MARCH 31, 2014 AND 2013. THE CREDIT UNION'S 2010 THROUGH 2013 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08344304
IRS990ScheduleD/TotalBookValueProgramRltdAmt034306020
IRS990ScheduleD/TotalLiabilityAmt0206233603
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/ClubDuesOrFeesInd0X
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0188951
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1153579
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt289471
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt3108612
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount024114
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount119476
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount29107
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount310344
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt10

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$234,311,562
Liabilities
$211,295,939
Net assets
$23,015,623
Revenue
$14,088,285
Expenses
$12,617,467
Net income
$1,470,818
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