Civic Intelligence

Mct Credit Union

990 • Fiscal year 2018 • EIN 74-1255147

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 12, 2019

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

75th percentile

0.91x

Higher debt load relative to assets than 75% of similar nonprofits.

2018 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2018

Liabilities / Revenue

49th percentile

16.65x

Higher debt load relative to revenue than 49% of similar nonprofits.

2018 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2018

Net Margin

36th percentile

12%

Higher net margin than 36% of similar nonprofits.

2018 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2018

Top Officer Pay

42nd percentile

$372,783

Higher top officer pay than 42% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

2018 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2018

Asset Growth

1st percentile

-6.3%

Faster asset growth than 1% of similar nonprofits.

2018 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Revenue Growth

8th percentile

2.4%

Faster revenue growth than 8% of similar nonprofits.

2018 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets75th percentile

Assets

Down

$295,924,955

Down $19,989,474 (-6.3%) from 2017

Net Assets

Up

$27,699,917

Up $1,517,808 (+5.8%) from 2017

Liabilities

Down

$268,225,038

Down $21,507,282 (-7.4%) from 2017

Revenue And Expenses
Liabilities / Revenue49th percentileNet Margin36th percentile

Revenue

Up

$16,112,684

Up $383,998 (+2.4%) from 2017

Expenses

Up

$14,161,193

Up $438,873 (+3.2%) from 2017

Net Income

Down

$1,951,491

Down $54,875 (-2.7%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth1st 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

2018

Assets$295,924,955
Liabilities$268,225,038
Net Assets$27,699,917
Open 2018 Filing

Operations Trend

Revenue Growth8th 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

2018

Revenue$16,112,684
Expenses$14,161,193
Net Income$1,951,491
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 12, 2019
Return Version
2018v3.1
Gross Receipts
$17,176,701
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$187,759,113$189,636,704▲ $1,877,591
Savings and Temporary Cash Investments$67,907,356$45,202,909▼ $22,704,447
Investments in Publicly Traded Securities$37,235,905$37,991,703▲ $755,798
Rtn Earn Endowment Incm Other Fnds$26,182,109$27,699,917▲ $1,517,808
Land, Buildings, and Equipment, Net$7,951,425$7,826,565▼ $124,860
Cash and Non-Interest-Bearing Accounts$3,085,108$3,100,497▲ $15,389
Investments Program Related$2,740,100$2,160,650▼ $579,450
Receivables From Officers Etc$1,417,669$1,451,126▲ $33,457
Prepaid Expenses and Deferred Charges$469,462$403,835▼ $65,627
Investments Other Securities$360,894$274,791▼ $86,103
Accounts Receivable$70,324$108,913▲ $38,589
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$315,914,429$295,924,955▼ $19,989,474
Other Assets Total$6,917,073$7,767,262▲ $850,189
Liabilities
Other Liabilities$278,786,695$259,979,814▼ $18,806,881
Accounts Payable and Accrued Expenses$10,945,625$8,245,224▼ $2,700,401
Total Liabilities$289,732,320$268,225,038▼ $21,507,282
Net Assets / Fund Balance
Total Net Assets Fund Balance$26,182,109$27,699,917▲ $1,517,808
Total Liabilities and Net Assets / Fund Balance$315,914,429$295,924,955▼ $19,989,474

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,277,888$3,644,850$9,922,738
Equipment$635,012$1,588,500$2,223,512
Land$913,665-$913,665
Compensation and Service Providers
Top Officer Pay42nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Thad AngellePresident/CEOFT$257,778$115,005$372,783
Mary FadhliExecutive Vice PresidentFT$203,798$107,175$310,973
Chad PowellCFOFT$139,140$43,958$183,098
Karen FrederickChief Operations OfficerFT$129,687$11,959$141,646
Debra CrewVP of Real EstateFT$102,247$35,192$137,439
Michael McgeeChief Lending OfficerFT$113,010$11,140$124,150

Board Members and Trustees

NameTitle
Deborah NorrisDirector
George ScottDirector
James Myers JrDirector
Michael GuidryDirector
Michael LairdDirector
Randy BrownDirector
Randy ChanceDirector
Rebecca DemeterDirector
Trent DevenzioDirector
Charles LankfordDirector-part Year

Highest Paid Contractors

ContractorServicesLocationCompensation
TransfundDebit Card ProcessingONE WILLIAMS CENTER, Tulsa, OK 74172$1,007,801
Jack Henry And AssociatesData Processing663 W HWY 60, Monett, MO 65708$853,361
KasasaAccount Technology & Marketing4516 SETON CENTER PKWY STE 300, Austin, TX 78759$757,118
Discovery Information Technologies INCTechnology Equipment, Monitoring & Consu904 HWY 69, Nederland, TX 77627$571,358
Third Degree Advertising And CommunicatiMarketing Services102 WEST EUFAULA ATE 200, Norman, OK 73069$417,497
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$14,461,153
Investment Income
$1,651,531
Other Revenue
$0
Change in Net Assets
$1,951,491
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,605,791
Salaries, Compensation, and Employee Benefits$6,078,598
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$3,955,982
Office Expenses---$2,300,518
Benefits to Members---$1,476,804
Current Officers, Directors, Trustees, and Key Employees---$866,854
Fees for Services Other---$615,049
Information Technology---$579,088
Depreciation Depletion---$512,888
Other Employee Benefits---$469,724
Occupancy---$450,714
Pension Plan Contributions---$450,110
Payroll Taxes---$335,928
Conferences and Meetings---$273,260
Interest---$244,119
Fees for Services Accounting---$80,816
Other Expenses---$70,000
Fees for Services Legal---$67,796
All Other Expenses---$31,677
Total Functional Expenses$0$0$0$14,161,193
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$571,358

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$1,417,669$1,451,126▲ $33,457
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Share Drafts$94,795,592
Regular Shares$85,159,894
Other Shares$37,319,242
Share Certificates$20,283,229
Money Market Shares$12,218,785
Ira/keough Accounts$10,203,072
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 family members
Yes
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 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.”

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
2019-11-12
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
99
Volunteers
9

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:

“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 2016 and 2017 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. The credit union evaluated its tax positions and determined no uncertain tax positions exist as of march 31, 2018 and 2017. The credit union's 2014 through 2017 tax years are open for examination by federal and state taxing authorities.”

Raw XML AppendixShowing 400 of 555 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/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.
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IRS990/Desc0THE CREDIT UNION HAD 1,236 NEW MEMBERS JOIN IN 2018. THE CREDIT UNION OPENED 3,909 DEPOSIT ACCOUNTS IN 2018. 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/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/OtherCompensationAmt1082478
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1181137
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1229453
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1311959
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1411140
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1535192
IRS990/Form990PartVIISectionAGrp/PersonNm0RANDY BROWN
IRS990/Form990PartVIISectionAGrp/PersonNm1RANDY CHANCE
IRS990/Form990PartVIISectionAGrp/PersonNm2GEORGE SCOTT
IRS990/Form990PartVIISectionAGrp/PersonNm3REBECCA DEMETER
IRS990/Form990PartVIISectionAGrp/PersonNm4MICHAEL GUIDRY
IRS990/Form990PartVIISectionAGrp/PersonNm5MICHAEL LAIRD
IRS990/Form990PartVIISectionAGrp/PersonNm6CHARLES LANKFORD
IRS990/Form990PartVIISectionAGrp/PersonNm7JAMES MYERS JR
IRS990/Form990PartVIISectionAGrp/PersonNm8DEBORAH NORRIS
IRS990/Form990PartVIISectionAGrp/PersonNm9TRENT DEVENZIO
IRS990/Form990PartVIISectionAGrp/PersonNm10THAD ANGELLE
IRS990/Form990PartVIISectionAGrp/PersonNm11MARY FADHLI
IRS990/Form990PartVIISectionAGrp/PersonNm12CHAD POWELL
IRS990/Form990PartVIISectionAGrp/PersonNm13KAREN FREDERICK
IRS990/Form990PartVIISectionAGrp/PersonNm14MICHAEL MCGEE
IRS990/Form990PartVIISectionAGrp/PersonNm15DEBRA CREW
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/ReportableCompFromOrgAmt10290305
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt11229836
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt12153645
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt13129687
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt14113010
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt15102247
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-PART YEAR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10PRESIDENT/CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt11EXECUTIVE VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt12CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt13CHIEF OPERATIONS OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt14CHIEF LENDING OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt15VP OF REAL ESTATE
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/Form990TFiledInd01
IRS990/FormationYr01953
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt0-382015
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt09
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/OtherAmt0682002
IRS990/GrossReceiptsAmt017176701
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt09
IRS990/IndivRcvdGreaterThan100KCnt06
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/TotalAmt0579088
IRS990/InterestGrp/TotalAmt0244119
IRS990/InvestmentIncomeGrp/ExclusionAmt02033546
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt02033546
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt0360894
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt0274791
IRS990/InvestmentsProgramRelatedGrp/BOYAmt02740100
IRS990/InvestmentsProgramRelatedGrp/EOYAmt02160650
IRS990/InvestmentsPubTradedSecGrp/BOYAmt037235905
IRS990/InvestmentsPubTradedSecGrp/EOYAmt037991703
IRS990/IRPDocumentCnt07339
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt05233350
IRS990/LandBldgEquipBasisNetGrp/BOYAmt07951425
IRS990/LandBldgEquipBasisNetGrp/EOYAmt07826565
IRS990/LandBldgEquipCostOrOtherBssAmt013059915
IRS990/LegalDomicileStateCd0TX
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt01064017
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/NetAssetsOrFundBalancesBOYAmt026182109
IRS990/NetAssetsOrFundBalancesEOYAmt027699917
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-382015
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-382015
IRS990/NetUnrelatedBusTxblIncmAmt017115
IRS990/NetUnrlzdGainsLossesInvstAmt0-433683
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt0450714
IRS990/OfficeExpensesGrp/TotalAmt02300518
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt06917073
IRS990/OtherAssetsTotalGrp/EOYAmt07767262
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0469724
IRS990/OtherExpensesGrp/Desc0EDUCATIONAL AND PROMOTI
IRS990/OtherExpensesGrp/Desc1PROVISION FOR LOAN AND
IRS990/OtherExpensesGrp/Desc2LOAN SERVICING EXPENSE
IRS990/OtherExpensesGrp/Desc3MISC. OPERATING EXPENSE
IRS990/OtherExpensesGrp/TotalAmt0626758
IRS990/OtherExpensesGrp/TotalAmt1458061
IRS990/OtherExpensesGrp/TotalAmt2295047
IRS990/OtherExpensesGrp/TotalAmt370000
IRS990/OtherLiabilitiesGrp/BOYAmt0278786695
IRS990/OtherLiabilitiesGrp/EOYAmt0259979814
IRS990/OtherSalariesAndWagesGrp/TotalAmt03955982
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0187759113
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0189636704
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt0335928
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt0450110
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0469462
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0403835
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/RelatedOrExemptFuncIncomeAmt09682266
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt12954202
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt21749692
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt09682266
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt12954202
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt21824685
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt074993
IRS990/ProgSrvcAccomActy2Grp/Desc0THE CREDIT UNION OFFERS CONSUMER LOANS, MORTGAGE LOANS, AND BUSINESS LOANS TO MEMBERSHIP. THE CREDIT UNION GRANTED 2,912 LOANS FOR $101,895,409 TO ITS MEMBERSHIP IN 2018.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt01366817
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01524988
IRS990/PYOtherExpensesAmt06456886
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt014203698
IRS990/PYRevenuesLessExpensesAmt02006366
IRS990/PYSalariesCompEmpBnftPaidAmt05898617
IRS990/PYTotalExpensesAmt013722320
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt015728686
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt01417669
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt01451126
IRS990/ReconcilationRevenueExpnssAmt01951491
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt026182109
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt027699917
IRS990/SavingsAndTempCashInvstGrp/BOYAmt067907356
IRS990/SavingsAndTempCashInvstGrp/EOYAmt045202909
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt06277888
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03644850
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt09922738
IRS990ScheduleD/EquipmentGrp/BookValueAmt0635012
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01588500
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02223512
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0913665
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0913665
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt085159894
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt194795592
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt212218785
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt320283229
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt410203072
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt537319242
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 2016 AND 2017 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. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF MARCH 31, 2018 AND 2017. THE CREDIT UNION'S 2014 THROUGH 2017 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt07826565
IRS990ScheduleD/TotalLiabilityAmt0259979814
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/ClubDuesOrFeesInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0257778
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1203798
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt2139140
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount030979
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount125006
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount214290
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt20

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$295,924,955
Liabilities
$268,225,038
Net assets
$27,699,917
Revenue
$16,112,684
Expenses
$14,161,193
Net income
$1,951,491
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
2018Detailed filing. Detailed filing data is available for this year.$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
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