Civic Intelligence

Investex Credit Union

EIN 74-1325622 • 501(c)14 • Humble, TX

Profile

Investex Credit Union is dedicated to the highest quality service for its members, while maintaining a solid financial foundation. Our core values reflect the strong character of our members and our growing relationship with them.

8404 Fm 1960 Bypass Rd WestHumble, TX 77338

www.investexcu.org

Siviq Scores

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

Liabilities / Assets

2nd percentile

0.00x

Higher debt load relative to assets than 2% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

3rd percentile

0.08x

Higher debt load relative to revenue than 3% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2024

Net Margin

11th percentile

1.1%

Higher net margin than 11% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

93rd percentile

$468,425

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 3.6% of source-year revenue.

501(c)14 • $100M-$250M nonprofits • Source year 2024

Asset Growth

21st percentile

-0.4%

Faster asset growth than 21% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

20th percentile

6.0%

Faster revenue growth than 20% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Down

$235,660,899

Down $1,012,310 (-0.4%) from 2023

Liabilities

Up

$1,006,767

Up $258,266 (+35%) from 2023

Net Assets

Down

$234,654,132

Down $1,270,576 (-0.5%) from 2023

Revenue

Up

$12,980,783

Up $735,477 (+6.0%) from 2023

Expenses

Up

$12,841,149

Up $1,623,905 (+14%) from 2023

Net Income

Down

$139,634

Down $888,428 (-86%) from 2023

Trend Graphs

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2010: $92,561,269Liabilities 2010: $1,222,952Net Assets 2010: $91,338,3172010Assets 2011: $102,575,594Liabilities 2011: $1,026,817Net Assets 2011: $101,548,7772011Assets 2012: $116,804,035Liabilities 2012: $1,090,712Net Assets 2012: $115,713,3232012Assets 2013: $171,020,083Liabilities 2013: $1,298,411Net Assets 2013: $169,721,6722013Assets 2014: $178,764,445Liabilities 2014: $1,534,779Net Assets 2014: $177,229,6662014Assets 2015: $183,988,672Liabilities 2015: $1,747,298Net Assets 2015: $182,241,3742015Assets 2016: $186,184,357Liabilities 2016: $2,015,825Net Assets 2016: $184,168,5322016Assets 2017: $202,820,155Liabilities 2017: $2,211,040Net Assets 2017: $200,609,1152017Assets 2018: $201,735,645Liabilities 2018: $2,047,824Net Assets 2018: $199,687,8212018Assets 2019: $222,341,917Liabilities 2019: $1,783,624Net Assets 2019: $220,558,2932019Assets 2020: $250,127,998Liabilities 2020: $2,276,817Net Assets 2020: $247,851,1812020Assets 2021: $266,144,576Liabilities 2021: $2,369,486Net Assets 2021: $263,775,0902021Assets 2022: $240,942,803Liabilities 2022: $2,297,473Net Assets 2022: $238,645,3302022Assets 2023: $236,673,209Liabilities 2023: $748,501Net Assets 2023: $235,924,7082023Assets 2024: $235,660,899Liabilities 2024: $1,006,767Net Assets 2024: $234,654,1322024

Highlighted filing

2024

Assets$235,660,899
Liabilities$1,006,767
Net Assets$234,654,132

Operations Trend

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

$15M$10M$5.0M$0Expenses 2010: $7,158,9282010Expenses 2011: $6,958,9122011Expenses 2012: $7,116,2532012Revenue 2013: $9,432,993Expenses 2013: $9,110,542Net Income 2013: $322,4512013Revenue 2014: $10,020,271Expenses 2014: $9,137,841Net Income 2014: $882,4302014Revenue 2015: $10,484,158Expenses 2015: $9,165,359Net Income 2015: $1,318,7992015Revenue 2016: $10,152,146Expenses 2016: $9,317,986Net Income 2016: $834,1602016Revenue 2017: $10,620,281Expenses 2017: $9,657,252Net Income 2017: $963,0292017Revenue 2018: $11,068,686Expenses 2018: $10,068,102Net Income 2018: $1,000,5842018Revenue 2019: $11,600,658Expenses 2019: $10,625,280Net Income 2019: $975,3782019Revenue 2020: $11,294,013Expenses 2020: $10,635,441Net Income 2020: $658,5722020Revenue 2021: $10,751,669Expenses 2021: $9,191,361Net Income 2021: $1,560,3082021Revenue 2022: $11,757,085Expenses 2022: $9,749,893Net Income 2022: $2,007,1922022Revenue 2023: $12,245,306Expenses 2023: $11,217,244Net Income 2023: $1,028,0622023Revenue 2024: $12,980,783Expenses 2024: $12,841,149Net Income 2024: $139,6342024

Highlighted filing

2024

Revenue$12,980,783
Expenses$12,841,149
Net Income$139,634

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$236$1.01$235$13.0$12.8$0.14
2023Detailed filing. Detailed filing data is available for this year.$237$0.75$236$12.2$11.2$1.03
2022Detailed filing. Detailed filing data is available for this year.$241$2.30$239$11.8$9.75$2.01
2021Detailed filing. Detailed filing data is available for this year.$266$2.37$264$10.8$9.19$1.56
2020Detailed filing. Detailed filing data is available for this year.$250$2.28$248$11.3$10.6$0.66
2019Detailed filing. Detailed filing data is available for this year.$222$1.78$221$11.6$10.6$0.98
2018Detailed filing. Detailed filing data is available for this year.$202$2.05$200$11.1$10.1$1.00
2017Detailed filing. Detailed filing data is available for this year.$203$2.21$201$10.6$9.66$0.96
2016Detailed filing. Detailed filing data is available for this year.$186$2.02$184$10.2$9.32$0.83
2015Detailed filing. Detailed filing data is available for this year.$184$1.75$182$10.5$9.17$1.32
2014Detailed filing. Detailed filing data is available for this year.$179$1.53$177$10.0$9.14$0.88
2013Detailed filing. Detailed filing data is available for this year.$171$1.30$170$9.43$9.11$0.32
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$117$1.09$116$7.12
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$103$1.03$102$6.96
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$92.6$1.22$91.3$7.16
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 14, 2025
Return Version
2024v5.0
Gross Receipts
$12,980,783
Mission and Program Overview

Mission

Investex Credit Union is dedicated to the highest quality service for its members, while maintaining a solid financial foundation. Our core values reflect the strong character of our members and our growing relationship with them.

InvesTex Credit Union is dedicated to the highest quality service for its members, while maintaining a solid financial foundation. Our core values reflect the strong character of our members and our growing relationship with them. Voluntary, cooperative,non-profit savings institution(credit union) incorporated under the provisions of the Texas Credit Union Act.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$225,308,810$223,608,236▼ $1,700,574
Other Notes and Loans Receivable, Net$127,990,630$127,082,624▼ $908,006
Investments Other Securities$78,942,011$75,619,455▼ $3,322,556
Rtn Earn Endowment Incm Other Fnds$10,615,898$11,045,896▲ $429,998
Land, Buildings, and Equipment, Net$8,666,588$8,635,959▼ $30,629
Receivables From Officers Etc$2,155,195$2,008,138▼ $147,057
Cash and Non-Interest-Bearing Accounts$1,821,448$1,206,889▼ $614,559
Intangible Assets$599,122$632,998▲ $33,876
Prepaid Expenses and Deferred Charges$155,681$212,495▲ $56,814
Accounts Receivable$67,746$66,051▼ $1,695
Savings and Temporary Cash Investments$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$236,673,209$235,660,899▼ $1,012,310
Other Assets Total$16,274,788$20,196,290▲ $3,921,502
Liabilities
Accounts Payable and Accrued Expenses$1,089,498$1,452,475▲ $362,977
Unsecured Notes Loans Payable$325,882$550,669▲ $224,787
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Other Liabilities$-666,879$-996,377▼ $329,498
Total Liabilities$748,501$1,006,767▲ $258,266
Net Assets / Fund Balance
Total Net Assets Fund Balance$235,924,708$234,654,132▼ $1,270,576
Total Liabilities and Net Assets / Fund Balance$236,673,209$235,660,899▼ $1,012,310

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,287,513$2,743,247$9,030,760
Equipment$494,981$3,514,210$4,009,191
Land$1,812,435-$1,812,435
Leasehold Improvements$32,909$900,918$933,827
Other Land Buildings$8,121$0$8,121
Other Assets Org$-1,364,744--
Other Securities$745,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Keith KearneyCEO/PresidentFT$348,319$141,497$489,816
Kelly PayneSenior Vice President Human ResourcesFT$148,845$9,924$158,769
John TomsonSenior Vice President Information TechnologyFT$146,923-$146,923
David DurhamVice President Branch AdministrationFT$140,134-$140,134
Rene ParedezVice President AccountingFT$136,984-$136,984
Matthew SpisakVice President Lending & Branch AdministrationFT$128,486-$128,486
Rick SulfridgeVice President Collections and FacilitiesFT$128,037-$128,037
Jana GonzalesVice President Business DevelopmentFT$122,560-$122,560
Allan GriffinBoard MemberPT$3,000-$3,000
Cathy ParachosChairperson of the BoardPT$3,000-$3,000
Dorothea PickensBoard MemberPT$3,000-$3,000
Phyllis KennedyBoard MemberPT$3,000-$3,000
Robert WilliamsBoard MemberPT$3,000-$3,000
Stephen HavemannBoard MemberPT$3,000-$3,000
Teresa DossmanBoard MemberPT$3,000-$3,000
William Lakin JrBoard MemberPT$3,000-$3,000
Dan CalvertBoard MemberPT$2,750-$2,750
Billy BeattieAdvisory CommitteePT$1,100-$1,100
Jennifer DufferAdvisory CommitteePT$1,100-$1,100
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$11,185,653
Investment Income
$1,795,130
Other Revenue
$0
Change in Net Assets
$139,634
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,220,825
Other Expenses$4,706,009
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members$2,914,315--$2,914,315
Other Salaries and Wages$2,816,922$0$0$2,816,922
Current Officers, Directors, Trustees, and Key Employees$1,455,974$0$0$1,455,974
Information Technology$931,714$0$0$931,714
Occupancy$872,021$0$0$872,021
Office Expenses$553,054$0$0$553,054
Other Employee Benefits$471,534$0$0$471,534
Payroll Taxes$304,511$0$0$304,511
Depreciation Depletion$262,734$0$0$262,734
Advertising$225,344$0$0$225,344
Pension Plan Contributions$171,884$0$0$171,884
Insurance$117,581$0$0$117,581
Travel$63,450$0$0$63,450
Fees for Services Legal$40,926$0$0$40,926
Other Expenses$33,041$0$0$33,041
Fees for Services Accounting$28,000$0$0$28,000
Payments to Affiliates$5,859$0$0$5,859
Interest$2,743$0$0$2,743
Total Functional Expenses$12,841,149$0$0$12,841,149
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$2,155,195$2,008,138▼ $147,057
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Atm Clearing$561,577
Unpresented Checks$98,433
Credit Card Suspense$13,475
Title Processing Clearing$11,959
Accounts Payable Clearing$2,233
Ira Withholding$29
Share Draft Clearing$-630
Mortgage Payable$-918
Credit Card Clearing$-10,705
Ach Clearing$-1,671,830
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
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.

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

The credit union has members that elect the governing body.

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

The members only vote to elect the board and when or if the credit union were to be merged with another credit union where the other credit union would survive, or if the credit union were to be converted to a bank.

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

The 990 is prepared by the Vice President Accounting and then reviewed by the President prior to submission.

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

All contracts are reviewed by the President or an independent member of the Board. All staff accounts are coded in the system and all transactions are reviewed periodically. All staff loans are report to the Board on a monthly basis. All staff sign credit union policies stating they do not a conflict of interest.

Form 990, Part VI, Section B, Line 15

The Board has a compensation committee who annually reviews the President's salary. They use surveys for the Texas market as well as independent consultants and legal services to evaluate salary, SERP, and employment contracts.

Form 990, Part VI, Section C, Line 19

Policies are available by mail, on our website, in our lobbies, or common areas, and made available by request. Financials are posted in our lobbies and in the annual meeting report that is available at the annual meeting or lobbies.

Filing and Contact Details

Filer

Filer Name
Investex Credit Union
EIN
74-1325622
Phone
2814490109
Address
8404 FM 1960 BYPASS RD WEST, HUMBLE, TX 77338

Signing Officer

Name
Rene Paredez
Title
Vice President Accounting
Phone
2815061216
Signed
2025-05-14

Organization Details

Principal Officer
Keith Kearney
Formed
1952
Legal Domicile
TX
Voting Board Members
9
Independent Board Members
0
Employees
64
Volunteers
9
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

Changed Online and Mobile banking services from Alogent to Bankjoy. Changed statement and notice service provider from Doxim to Business Data Inc. Changed collateral protection vendors from Southwest Business Corp to Insurance Systems Inc.

Form 990, Part III, Line 3

Changed closing business hours from 6pm to 5pm CST Monday thru Friday for all lobbies, drive throughs, and call center.

Form 990, Part V, Line 2B

All forms are filed.

Form 990, Part V, Line 14B

Investex Credit Union does not offer tanning services.

Form 990, Part XI, Line 9

Unrealized gain/loss remains high due to market conditions.

Raw XML AppendixShowing 400 of 975 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/Form990PartVIISectionAGrp/PersonNm1Kelly Payne
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IRS990/Form990PartVIISectionAGrp/PersonNm3David Durham
IRS990/Form990PartVIISectionAGrp/PersonNm4Rene Paredez
IRS990/Form990PartVIISectionAGrp/PersonNm5Matthew Spisak
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IRS990/Form990PartVIISectionAGrp/PersonNm15Stephen Havemann
IRS990/Form990PartVIISectionAGrp/PersonNm16Dan Calvert
IRS990/Form990PartVIISectionAGrp/PersonNm17Jennifer Duffer
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IRS990/Form990PartVIISectionAGrp/TitleTxt2Senior Vice President Information Technology
IRS990/Form990PartVIISectionAGrp/TitleTxt3Vice President Branch Administration
IRS990/Form990PartVIISectionAGrp/TitleTxt4Vice President Accounting
IRS990/Form990PartVIISectionAGrp/TitleTxt5Vice President Lending & Branch Administration
IRS990/Form990PartVIISectionAGrp/TitleTxt6Vice President Collections and Facilities
IRS990/Form990PartVIISectionAGrp/TitleTxt7Vice President Business Development
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