Civic Intelligence

Resource One Credit Union

EIN 75-0821285 • 501(c)14 • Dallas, TX

Profile

Cooperative financial services provider.

1200 Belleview StDallas, TX 75215

www.r1cu.org

Siviq Scores

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

Liabilities / Assets

98th percentile

0.95x

Higher debt load relative to assets than 98% of similar nonprofits.

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

Liabilities / Revenue

28th percentile

13.23x

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

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

Net Margin

6th percentile

-5.1%

Higher net margin than 6% of similar nonprofits.

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

Top Officer Pay

38th percentile

$386,712

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

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

Asset Growth

26th percentile

-0.8%

Faster asset growth than 26% of similar nonprofits.

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

Revenue Growth

25th percentile

6.9%

Faster revenue growth than 25% of similar nonprofits.

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

Assets

Down

$756,525,504

Down $5,759,779 (-0.8%) from 2023

Liabilities

Down

$720,168,336

Down $3,579,426 (-0.5%) from 2023

Net Assets

Down

$36,357,168

Down $2,180,353 (-5.7%) from 2023

Revenue

Up

$54,428,303

Up $3,517,094 (+6.9%) from 2023

Expenses

Down

$57,192,767

Down $6,871,473 (-11%) from 2023

Net Income

Up

-$2,764,464

Up $10,388,567 (+79%) from 2023

Trend Graphs

Balance Sheet Trend

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

$1.0B$500M$0-$500MAssets 2010: $310,836,579Liabilities 2010: $2,386,018Net Assets 2010: $308,450,5612010Assets 2011: $338,075,677Liabilities 2011: $3,346,245Net Assets 2011: $334,729,4322011Assets 2012: $371,842,359Liabilities 2012: $2,871,105Net Assets 2012: $368,971,2542012Assets 2013: $389,619,571Liabilities 2013: $3,250,902Net Assets 2013: $386,368,6692013Assets 2014: $395,083,769Liabilities 2014: $3,559,580Net Assets 2014: $391,524,1892014Assets 2015: $433,061,620Liabilities 2015: $4,557,139Net Assets 2015: $428,504,4812015Assets 2016: $452,498,004Liabilities 2016: $5,759,703Net Assets 2016: $446,738,3012016Assets 2017: $476,274,457Liabilities 2017: $5,840,297Net Assets 2017: $470,434,1602017Assets 2018: $488,853,339Liabilities 2018: $6,331,836Net Assets 2018: $482,521,5032018Assets 2019: $541,219,288Liabilities 2019: $4,584,044Net Assets 2019: $536,635,2442019Assets 2020: $642,203,704Liabilities 2020: -$11,947,821Net Assets 2020: $654,151,5252020Assets 2021: $739,668,611Liabilities 2021: $682,548,429Net Assets 2021: $57,120,1822021Assets 2022: $825,257,395Liabilities 2022: $769,461,081Net Assets 2022: $55,796,3142022Assets 2023: $762,285,283Liabilities 2023: $723,747,762Net Assets 2023: $38,537,5212023Assets 2024: $756,525,504Liabilities 2024: $720,168,336Net Assets 2024: $36,357,1682024

Highlighted filing

2024

Assets$756,525,504
Liabilities$720,168,336
Net Assets$36,357,168

Operations Trend

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

$80M$60M$40M$20M$0-$20MExpenses 2010: $23,610,1032010Expenses 2011: $24,061,1252011Expenses 2012: $23,390,1212012Revenue 2013: $29,484,447Expenses 2013: $25,145,296Net Income 2013: $4,339,1512013Revenue 2014: $30,541,900Expenses 2014: $26,282,849Net Income 2014: $4,259,0512014Revenue 2015: $30,942,224Expenses 2015: $28,564,893Net Income 2015: $2,377,3312015Revenue 2016: $32,493,548Expenses 2016: $30,714,956Net Income 2016: $1,778,5922016Revenue 2017: $35,601,057Expenses 2017: $32,512,262Net Income 2017: $3,088,7952017Revenue 2018: $37,754,687Expenses 2018: $35,555,329Net Income 2018: $2,199,3582018Revenue 2019: $40,453,024Expenses 2019: $38,818,642Net Income 2019: $1,634,3822019Revenue 2020: $40,721,208Expenses 2020: $37,609,141Net Income 2020: $3,112,0672020Revenue 2021: $42,535,084Expenses 2021: $37,123,749Net Income 2021: $5,411,3352021Revenue 2022: $45,978,560Expenses 2022: $42,724,137Net Income 2022: $3,254,4232022Revenue 2023: $50,911,209Expenses 2023: $64,064,240Net Income 2023: -$13,153,0312023Revenue 2024: $54,428,303Expenses 2024: $57,192,767Net Income 2024: -$2,764,4642024

Highlighted filing

2024

Revenue$54,428,303
Expenses$57,192,767
Net Income-$2,764,464

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$757$720$36.4$54.4$57.2$2.76
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$762$724$38.5$50.9$64.1$13.2
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$825$769$55.8$46.0$42.7$3.25
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$740$683$57.1$42.5$37.1$5.41
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$642$11.9$654$40.7$37.6$3.11
2019Summary only. Only limited summary data is available for this year.$541$4.58$537$40.5$38.8$1.63
2018Summary only. Only limited summary data is available for this year.$489$6.33$483$37.8$35.6$2.20
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$476$5.84$470$35.6$32.5$3.09
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$452$5.76$447$32.5$30.7$1.78
2015Detailed filing. Detailed filing data is available for this year.$433$4.56$429$30.9$28.6$2.38
2014Detailed filing. Detailed filing data is available for this year.$395$3.56$392$30.5$26.3$4.26
2013Detailed filing. Detailed filing data is available for this year.$390$3.25$386$29.5$25.1$4.34
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$372$2.87$369$23.4
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$338$3.35$335$24.1
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$311$2.39$308$23.6
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2020 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jan 11, 2022
Return Version
2020v4.0
Gross Receipts
$40,721,208
Mission and Program Overview

Mission

Cooperative financial services provider.

Financial cooperative formed to promote thrift through savings and loans to it's members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pd in Cap Srpls Land Bldg Eqp Fund$486,162,275$601,192,898▲ $115,030,623
Other Notes and Loans Receivable, Net$467,860,609$522,285,664▲ $54,425,055
Rtn Earn Endowment Incm Other Fnds$50,472,969$52,958,627▲ $2,485,658
Investments Other Securities$2,313,409$41,069,332▲ $38,755,923
Savings and Temporary Cash Investments$30,830,888$36,493,547▲ $5,662,659
Land, Buildings, and Equipment, Net$17,760,132$17,345,160▼ $414,972
Cash and Non-Interest-Bearing Accounts$5,419,858$5,988,553▲ $568,695
Accounts Receivable$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$541,219,288$642,203,704▲ $100,984,416
Other Assets Total$17,034,392$19,021,448▲ $1,987,056
Liabilities
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Accounts Payable and Accrued Expenses$4,584,044$-11,947,821▼ $16,531,865
Total Liabilities$4,584,044$-11,947,821▼ $16,531,865
Net Assets / Fund Balance
Total Net Assets Fund Balance$536,635,244$654,151,525▲ $117,516,281
Total Liabilities and Net Assets / Fund Balance$541,219,288$642,203,704▲ $100,984,416

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$9,446,653$6,469,530-
Land$5,841,942--
Equipment$1,999,353$8,637,271-
Leasehold Improvements$57,212$146,100-
Other Securities$217,300--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mary Beth SpuckPresident CEOFT$348,345-$348,345
Mary Beth SpuckPresident & CEO-$299,250$49,095$348,345
Doug BednerChief Operations OfficerFT$204,911$35,113$240,024
Brady PoppChief Lending OfficerFT$200,000$25,039$225,039
Jennifer Grinder GossChief Experience OfficerFT$157,083$11,149$168,232
Merrill CurrierChief Information OfficerFT$137,248$9,028$146,276
Tracey JacksonChief Financial OfficerFT$116,923$9,616$126,539
Chris DegeliaSecretary TreasurerPT$10,250-$10,250
Craig GantBoard MemberPT$10,000-$10,000
Greg BluntVice chair of the BoardPT$9,000-$9,000
Jean ManuealBoard MemberPT$8,250-$8,250
Karen HartChairperson of the BoardPT$8,250-$8,250
Janey AppiaBoard MemberPT$7,750-$7,750
Keith WilsonBoard MemberPT$7,750-$7,750
Tony GorbelBoard MemberPT$6,500-$6,500
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$40,192,369
Investment Income
$528,839
Other Revenue
$0
All Other Contributions
$0
Change in Net Assets
$3,112,067

Audited Revenue Reconciliation

Revenue per Audited Statements
$40,721,208
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$656,714
Total Revenue per Audited Statements
$41,377,922
Total Revenue per Form 990
$40,721,208
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$23,677,369
Salaries, Compensation, and Employee Benefits$13,931,772
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses$9,863,896$0$0$9,863,896
Other Salaries and Wages$9,707,581$0$0$9,707,581
Interest$4,004,377$0$0$4,004,377
Occupancy$2,315,395$0$0$2,315,395
Other Employee Benefits$1,729,156$0$0$1,729,156
Current Officers, Directors, Trustees, and Key Employees$1,322,205$0$0$1,322,205
Advertising$738,772$0$0$738,772
Fees for Services Management$730,803$0$0$730,803
Payroll Taxes$729,004$0$0$729,004
Depreciation Depletion$702,216$0$0$702,216
Pension Plan Contributions$443,826$0$0$443,826
Insurance$170,337$0$0$170,337
Travel$129,155$0$0$129,155
Fees for Services Legal$127,149$0$0$127,149
Fees for Services Accounting$61,600$0$0$61,600
Total Functional Expenses$37,609,141$0$0$37,609,141

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$38,040,654
Expenses per Audited Statements$37,609,141
Total Expenses per Form 990$37,609,141
Expenses Not Reported on Form 990$431,513
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

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

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Part VI, Line 6

As of 12 31 2020 Resource One Credit Union had 67,494 members

Part VI, Line 7A

The credit unions Board of Directors are nominated and elected by its membership. One equal vote per member. Board members must be in good standing and actively use the credit union's products and services. All Board members are non-compensated volunteers except for the President CEO.

Part VI, Line 7B

Major decisions such as: mergers By-Law changes Board member elections etc. require a majority approval from its current membership.

Part VI, Line 12C

All Board Policies and revisions are prepared by the credit union's management team. All new policies and revisions are first reviewed by the credit union's "Board Policy Review Committee". Once approved by the committee the new policies and or revisions are presented to the Board of Directors for approval. All policies are reviewed approved or ratified by the Board of Directors on an annual basis.

Part VI, Line 15

Resource One Credit Union's CEO reviews he compensation and benefits of the 190+ employees. However the board reviews the CEO compensation. In this case the management team includes the Director of Human Resources Chief Financial Officer and President CEO. Management and the committee utilizes 2 to 3 independent peer industry compensation survey and often an independent 3rd party consultant to insure the employee's compensation and benefits are reasonable and in-line with its peers.

Part VI, Line 19

Monthly financial statements and dispute resolution instructions are clearly displayed in each of the credit union's branch 11 branch lobbies. Resource One's website www.r1cu.org publishes the credit union's audited financial statements By-Laws Articles of Incorporation Dispute Resolution instructions the most recent IRS Form 990 and 990-T and the last 3-years of Annual reports.

Filing and Contact Details

Filer

Filer Name
Resource One Credit Union
EIN
75-0821285
In Care Of
% Mary Beth Spuck
Phone
2145401708
Address
1200 Belleview St, Dallas, TX 75215
Doing Business As
Resource One Credit Union

Signing Officer

Name
Tracey Jackson
Title
Chief Financial Officer
Signed
2022-01-11
Discuss with paid preparer
No

Organization Details

Formed
1986
Legal Domicile
TX
Voting Board Members
8
Independent Board Members
8
Employees
237
Volunteers
8
Supplemental Narrative

Additional Explanations

Part III, Line 4D

| Description:, Expense Amount:, Grants Amount:, Revenue Amount:| other member services, $1196110, $0, $533075|

Part XI, Line 9

| Description:, Explanation:, Amount:| Deposit growth, Increase in deposits due to stimulus money, $XXX-XX-XXXX|

Raw XML AppendixShowing 400 of 803 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd0true
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IRS990/Desc0Voluntary cooperative non-profit savings institution Credit Union incorporated under the provisions of the Texas Credit Union Act or the purpose of encouraging thrift among the members providing its members credit at a fair reasonable rate of interest and an opportunity to improve their financial well being
IRS990/DescribedInSection501c3Ind0false
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IRS990/ForeignOfficeInd0false
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