Civic Intelligence

Mct Credit Union

990 • Fiscal year 2016 • EIN 74-1255147

Jan 01, 2016 to Dec 31, 2016 • Filed on Aug 16, 2017

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

73rd percentile

0.91x

Higher debt load relative to assets than 73% of similar nonprofits.

2016 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2016

Liabilities / Revenue

28th percentile

15.97x

Higher debt load relative to revenue than 28% of similar nonprofits.

2016 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2016

Net Margin

15th percentile

5.2%

Higher net margin than 15% of similar nonprofits.

2016 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2016

Top Officer Pay

42nd percentile

$362,825

Higher top officer pay than 42% of similar nonprofits.

Top officer pay equals 2.5% of source-year revenue.

2016 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2016

Asset Growth

27th percentile

3.9%

Faster asset growth than 27% of similar nonprofits.

2016 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2015 to 2016

Revenue Growth

9th percentile

0.3%

Faster revenue growth than 9% of similar nonprofits.

2016 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Up

$255,470,758

Up $9,492,389 (+3.9%) from 2015

Net Assets

Up

$23,312,961

Up $58,851 (+0.3%) from 2015

Liabilities

Up

$232,157,797

Up $9,433,538 (+4.2%) from 2015

Revenue And Expenses
Liabilities / Revenue28th percentileNet Margin15th percentile

Revenue

Up

$14,535,178

Up $47,369 (+0.3%) from 2015

Expenses

Up

$13,783,792

Up $913,957 (+7.1%) from 2015

Net Income

Down

$751,386

Down $866,588 (-54%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth27th 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

2016

Assets$255,470,758
Liabilities$232,157,797
Net Assets$23,312,961
Open 2016 Filing

Operations Trend

Revenue Growth9th 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

2016

Revenue$14,535,178
Expenses$13,783,792
Net Income$751,386
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Aug 16, 2017
Return Version
2016v3.0
Gross Receipts
$15,812,454
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$171,944,445$179,460,407▲ $7,515,962
Investments in Publicly Traded Securities$8,163,904$32,762,079▲ $24,598,175
Rtn Earn Endowment Incm Other Fnds$23,254,110$23,312,961▲ $58,851
Savings and Temporary Cash Investments$14,932,993$16,177,886▲ $1,244,893
Investments Program Related$32,234,020$8,662,400▼ $23,571,620
Land, Buildings, and Equipment, Net$8,130,737$8,304,051▲ $173,314
Cash and Non-Interest-Bearing Accounts$2,299,013$1,630,094▼ $668,919
Receivables From Officers Etc$1,352,935$1,384,984▲ $32,049
Investments Other Securities$591,427$474,607▼ $116,820
Prepaid Expenses and Deferred Charges$363,188$405,026▲ $41,838
Accounts Receivable$138,537$88,533▼ $50,004
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$245,978,369$255,470,758▲ $9,492,389
Other Assets Total$5,827,170$6,120,691▲ $293,521
Liabilities
Other Liabilities$217,312,257$225,360,562▲ $8,048,305
Accounts Payable and Accrued Expenses$5,412,002$6,797,235▲ $1,385,233
Total Liabilities$222,724,259$232,157,797▲ $9,433,538
Net Assets / Fund Balance
Total Net Assets Fund Balance$23,254,110$23,312,961▲ $58,851
Total Liabilities and Net Assets / Fund Balance$245,978,369$255,470,758▲ $9,492,389

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,533,053$3,048,852$9,581,905
Equipment$477,427$1,257,514$1,734,941
Land$1,293,571-$1,293,571
Compensation and Service Providers
Top Officer Pay42nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Thad AngellePresident/CEOFT$240,201$122,624$362,825
Mary FadhliExecutive Vice PresidentFT$185,833$133,673$319,506
Karen FrederickControllerFT$114,851$21,475$136,326
Jill ForseVP of Human ResourcesFT$102,369$33,739$136,108
Chad PowellCFOFT$112,432$22,364$134,796
Michael McgeeVP of Business LendingFT$113,294$8,358$121,652

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
Trent DevenzioDirector
Yvonne GrimesDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
TransfundDebit Card ProcessingPO BOX 2300, Tulsa, OK 74102$565,906
American National InsuranceCredit Life And DisabilityPO BOX 696785, San Antonio, TX 78269$558,125
Discovery ComputersTechnology Equipment, Monitoring & Consu904 HWY 69, Nederland, TX 77627$468,849
Jack Henry And AssociatesData ProcessingPO BOX 610, Monett, MO 65709$452,324
Construction ZoneMarketing Services1420 SPRING HILL ROAD, Aubrey, TX 76227$365,695
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$13,948,515
Investment Income
$584,163
Other Revenue
$2,500
Change in Net Assets
$751,386
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,679,916
Salaries, Compensation, and Employee Benefits$5,775,014
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$3,638,406
Office Expenses---$2,399,313
Benefits to Members---$1,328,862
Current Officers, Directors, Trustees, and Key Employees---$817,127
Fees for Services Other---$621,955
Information Technology---$527,975
Other Employee Benefits---$507,621
Pension Plan Contributions---$492,477
Occupancy---$427,221
Depreciation Depletion---$361,010
Payroll Taxes---$319,383
Conferences and Meetings---$264,502
Other Expenses---$59,960
Fees for Services Legal---$40,093
Fees for Services Accounting---$30,656
All Other Expenses---$29,514
Total Functional Expenses$0$0$0$13,783,792
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$468,849

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$1,352,935$1,384,984▲ $32,049
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Share Drafts$82,313,750
Regular Shares$65,828,111
Other Shares$30,548,572
Share Certificates$23,142,010
Money Market Shares$12,536,898
Ira/keough Accounts$10,991,221
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
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 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 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 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 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
2017-08-16
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
94
Volunteers
10

Preparer

Firm
Cliftonlarsonallen Llp
Address
PO BOX 217, AUSTIN, MN 55912
Preparer
Sherri Wessels
Phone
5074347000
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“ROUNDING -2.”

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 filed tax returns for 2014 and 2015 for all activities are 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. The credit union evaluated its tax positions and determined no uncertain tax positions exist as of march 31, 2016 and 2015. The credit union's 2012 through 2015 tax years are open for examination by federal and state taxing authorities.”

Raw XML AppendixShowing 400 of 563 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 1,369 NEW MEMBERS JOIN IN 2016. THE CREDIT UNION OPENED 4,269 DEPOSIT ACCOUNTS IN 2016. 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/IndividualTrusteeOrDirectorInd10X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd11X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
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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/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1296976
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt13113187
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1422364
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1521475
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt168358
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1733739
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/PersonNm11TRENT DEVENZIO
IRS990/Form990PartVIISectionAGrp/PersonNm12THAD ANGELLE
IRS990/Form990PartVIISectionAGrp/PersonNm13MARY FADHLI
IRS990/Form990PartVIISectionAGrp/PersonNm14CHAD POWELL
IRS990/Form990PartVIISectionAGrp/PersonNm15KAREN FREDERICK
IRS990/Form990PartVIISectionAGrp/PersonNm16MICHAEL MCGEE
IRS990/Form990PartVIISectionAGrp/PersonNm17JILL FORSE
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/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt12265849
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt13206319
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt14112432
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt15114851
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt16113294
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt17102369
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
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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/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
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/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12PRESIDENT/CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt13EXECUTIVE VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt14CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt15CONTROLLER
IRS990/Form990PartVIISectionAGrp/TitleTxt16VP OF BUSINESS LENDING
IRS990/Form990PartVIISectionAGrp/TitleTxt17VP OF HUMAN RESOURCES
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/Form990TFiledInd01
IRS990/FormationYr01953
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt0-18860
IRS990/GainOrLossGrp/SecuritiesAmt011775
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt09
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/OtherAmt0292205
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt0977986
IRS990/GrossReceiptsAmt015812454
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt09
IRS990/IndivRcvdGreaterThan100KCnt06
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InformationTechnologyGrp/TotalAmt0527975
IRS990/InvestmentIncomeGrp/ExclusionAmt0591248
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0591248
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt0591427
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt0474607
IRS990/InvestmentsProgramRelatedGrp/BOYAmt032234020
IRS990/InvestmentsProgramRelatedGrp/EOYAmt08662400
IRS990/InvestmentsPubTradedSecGrp/BOYAmt08163904
IRS990/InvestmentsPubTradedSecGrp/EOYAmt032762079
IRS990/IRPDocumentCnt07150
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt04306366
IRS990/LandBldgEquipBasisNetGrp/BOYAmt08130737
IRS990/LandBldgEquipBasisNetGrp/EOYAmt08304051
IRS990/LandBldgEquipCostOrOtherBssAmt012610417
IRS990/LegalDomicileStateCd0TX
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt0311065
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt0966211
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/NetAssetsOrFundBalancesBOYAmt023254110
IRS990/NetAssetsOrFundBalancesEOYAmt023312961
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-7085
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-7085
IRS990/NetUnrelatedBusTxblIncmAmt0795
IRS990/NetUnrlzdGainsLossesInvstAmt0-692533
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt0427221
IRS990/OfficeExpensesGrp/TotalAmt02399313
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt05827170
IRS990/OtherAssetsTotalGrp/EOYAmt06120691
IRS990/OtherChangesInNetAssetsAmt0-2
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0507621
IRS990/OtherExpensesGrp/Desc0PROVISION FOR LOAN AND
IRS990/OtherExpensesGrp/Desc1EDUCATIONAL AND PROMOTI
IRS990/OtherExpensesGrp/Desc2LOAN SERVICING EXPENSE
IRS990/OtherExpensesGrp/Desc3MISC. OPERATING EXPENSE
IRS990/OtherExpensesGrp/TotalAmt0829217
IRS990/OtherExpensesGrp/TotalAmt1764618
IRS990/OtherExpensesGrp/TotalAmt2323882
IRS990/OtherExpensesGrp/TotalAmt359960
IRS990/OtherLiabilitiesGrp/BOYAmt0217312257
IRS990/OtherLiabilitiesGrp/EOYAmt0225360562
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0OTHER NON-OPERATING INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt02500
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt02500
IRS990/OtherRevenueTotalAmt02500
IRS990/OtherSalariesAndWagesGrp/TotalAmt03638406
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0171944445
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0179460407
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt0319383
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt0492477
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0363188
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0405026
IRS990/PrincipalOfficerNm0CHAD POWELL
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1524298
IRS990/ProgramServiceRevenueGrp/BusinessCd2522100
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INTEREST INCOME
IRS990/ProgramServiceRevenueGrp/Desc1OTHER OPERATING INCOME
IRS990/ProgramServiceRevenueGrp/Desc2FEES & CHARGES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt09476834
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt12677749
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt21671289
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt09476834
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt12677749
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt21793932
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt0122643
IRS990/ProgSrvcAccomActy2Grp/Desc0THE CREDIT UNION OFFERS CONSUMER LOANS, MORTGAGE LOANS, AND BUSINESS LOANS TO MEMBERSHIP. THE CREDIT UNION GRANTED 3,661 LOANS FOR $105,833,254 TO ITS MEMBERSHIP IN 2016.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt01358640
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0526008
IRS990/PYOtherExpensesAmt05779561
IRS990/PYOtherRevenueAmt022000
IRS990/PYProgramServiceRevenueAmt013939801
IRS990/PYRevenuesLessExpensesAmt01617974
IRS990/PYSalariesCompEmpBnftPaidAmt05731634
IRS990/PYTotalExpensesAmt012869835
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt014487809
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt01352935
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt01384984
IRS990/ReconcilationRevenueExpnssAmt0751386
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt023254110
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt023312961
IRS990/SavingsAndTempCashInvstGrp/BOYAmt014932993
IRS990/SavingsAndTempCashInvstGrp/EOYAmt016177886
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt06533053
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03048852
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt09581905
IRS990ScheduleD/EquipmentGrp/BookValueAmt0477427
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01257514
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01734941
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt01293571
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01293571
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt065828111
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt182313750
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt212536898
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt323142010
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt410991221
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt530548572
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 FILED TAX RETURNS FOR 2014 AND 2015 FOR ALL ACTIVITIES ARE 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. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF MARCH 31, 2016 AND 2015. THE CREDIT UNION'S 2012 THROUGH 2015 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08304051
IRS990ScheduleD/TotalLiabilityAmt0225360562

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$255,470,758
Liabilities
$232,157,797
Net assets
$23,312,961
Revenue
$14,535,178
Expenses
$13,783,792
Net income
$751,386
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
2016Detailed filing. Detailed filing data is available for this year.$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