Civic Intelligence

Credit Union 1

990 • Fiscal year 2022 • EIN 92-0021481

Jan 01, 2022 to Dec 31, 2022 • Filed on Oct 03, 2023

Organization Profilewww.cu1.org

View Organization Page

1941 Abbott RoadAnchorage, AK 99507

(907) 339-9485

Siviq Scores

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

Liabilities / Assets

23rd percentile

0.90x

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

2022 filings • 501(c)14 • $1B+ nonprofits • Source year 2022

Liabilities / Revenue

11th percentile

17.09x

Higher debt load relative to revenue than 11% of similar nonprofits.

2022 filings • 501(c)14 • $1B+ nonprofits • Source year 2022

Net Margin

27th percentile

14%

Higher net margin than 27% of similar nonprofits.

2022 filings • 501(c)14 • $1B+ nonprofits • Source year 2022

Top Officer Pay

32nd percentile

$767,848

Higher top officer pay than 32% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2022 filings • 501(c)14 • $1B+ nonprofits • Source year 2022

Asset Growth

22nd percentile

0.4%

Faster asset growth than 22% of similar nonprofits.

2022 filings • 501(c)14 • $1B+ nonprofits • Annualized from 2021 to 2022

Revenue Growth

37th percentile

9.9%

Faster revenue growth than 37% of similar nonprofits.

2022 filings • 501(c)14 • $1B+ nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets23rd percentile

Assets

Up

$1,475,579,183

Up $6,604,280 (+0.4%) from 2021

Net Assets

Down

$146,915,561

Down $12,432,039 (-7.8%) from 2021

Liabilities

Up

$1,328,663,622

Up $19,036,319 (+1.5%) from 2021

Revenue And Expenses
Liabilities / Revenue11th percentileNet Margin27th percentile

Revenue

Up

$77,760,445

Up $7,023,601 (+9.9%) from 2021

Expenses

Up

$66,519,887

Up $10,304,019 (+18%) from 2021

Net Income

Down

$11,240,558

Down $3,280,418 (-23%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth22nd percentile

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

$2.0B$1.5B$1.0B$500M$0Assets 2010: $719,339,186Liabilities 2010: $642,790,999Net Assets 2010: $76,548,1872010Assets 2011: $764,930,212Liabilities 2011: $680,738,266Net Assets 2011: $84,191,9462011Assets 2012: $826,893,960Liabilities 2012: $736,309,632Net Assets 2012: $90,584,3282012Assets 2013: $862,355,591Liabilities 2013: $767,002,018Net Assets 2013: $95,353,5732013Assets 2014: $889,879,533Liabilities 2014: $785,753,413Net Assets 2014: $104,126,1202014Assets 2015: $924,792,310Liabilities 2015: $813,509,715Net Assets 2015: $111,282,5952015Assets 2016: $975,192,108Liabilities 2016: $858,572,103Net Assets 2016: $116,620,0052016Assets 2017: $1,006,920,083Liabilities 2017: $888,375,579Net Assets 2017: $118,544,5042017Assets 2018: $1,022,991,297Liabilities 2018: $897,203,258Net Assets 2018: $125,788,0392018Assets 2019: $1,090,013,655Liabilities 2019: $948,990,049Net Assets 2019: $141,023,6062019Assets 2020: $1,293,913,722Liabilities 2020: $1,144,222,338Net Assets 2020: $149,691,3842020Assets 2021: $1,468,974,903Liabilities 2021: $1,309,627,303Net Assets 2021: $159,347,6002021Assets 2022: $1,475,579,183Liabilities 2022: $1,328,663,622Net Assets 2022: $146,915,5612022Assets 2023: $1,519,582,740Liabilities 2023: $1,358,646,940Net Assets 2023: $160,935,8002023Assets 2024: $1,468,794,139Liabilities 2024: $1,291,729,337Net Assets 2024: $177,064,8022024

Highlighted filing

2022

Assets$1,475,579,183
Liabilities$1,328,663,622
Net Assets$146,915,561
Open 2022 Filing

Operations Trend

Revenue Growth37th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$150M$100M$50M$0Expenses 2010: $40,998,6282010Expenses 2011: $39,188,5172011Expenses 2012: $42,328,8162012Expenses 2013: $44,938,7442013Revenue 2014: $56,922,704Expenses 2014: $47,389,138Net Income 2014: $9,533,5662014Revenue 2015: $59,422,223Expenses 2015: $51,488,878Net Income 2015: $7,933,3452015Revenue 2016: $63,944,987Expenses 2016: $58,112,983Net Income 2016: $5,832,0042016Revenue 2017: $65,399,610Expenses 2017: $62,850,139Net Income 2017: $2,549,4712017Revenue 2018: $66,519,842Expenses 2018: $57,627,444Net Income 2018: $8,892,3982018Revenue 2019: $68,611,533Expenses 2019: $58,593,958Net Income 2019: $10,017,5752019Revenue 2020: $65,289,354Expenses 2020: $58,760,833Net Income 2020: $6,528,5212020Revenue 2021: $70,736,844Expenses 2021: $56,215,868Net Income 2021: $14,520,9762021Revenue 2022: $77,760,445Expenses 2022: $66,519,887Net Income 2022: $11,240,5582022Revenue 2023: $92,423,998Expenses 2023: $83,312,210Net Income 2023: $9,111,7882023Revenue 2024: $100,698,593Expenses 2024: $86,638,109Net Income 2024: $14,060,4842024

Highlighted filing

2022

Revenue$77,760,445
Expenses$66,519,887
Net Income$11,240,558
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 3, 2023
Return Version
2022v5.0
Gross Receipts
$80,328,028
Mission and Program Overview

Mission

Help members achieve their financial goals by focusing on excellent service and value

Help members achieve their financial goals by focusing on excellent service and value.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$835,862,164$998,289,510▲ $162,427,346
Investments Other Securities$292,783,107$261,773,859▼ $31,009,248
Rtn Earn Endowment Incm Other Fnds$159,347,600$146,915,561▼ $12,432,039
Savings and Temporary Cash Investments$241,180,189$108,616,803▼ $132,563,386
Land, Buildings, and Equipment, Net$33,316,698$34,619,309▲ $1,302,611
Cash and Non-Interest-Bearing Accounts$15,394,835$17,932,010▲ $2,537,175
Prepaid Expenses and Deferred Charges$1,992,785$2,709,495▲ $716,710
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0--
Loans From Officers Directors$0$0→ $0
Total Assets$1,468,974,903$1,475,579,183▲ $6,604,280
Other Assets Total$48,445,125$51,638,197▲ $3,193,072
Liabilities
Accounts Payable and Accrued Expenses$1,291,745,282$1,306,317,304▲ $14,572,022
Other Liabilities$14,809,315$18,830,278▲ $4,020,963
Escrow Account Liability$3,072,706$3,516,040▲ $443,334
Total Liabilities$1,309,627,303$1,328,663,622▲ $19,036,319
Net Assets / Fund Balance
Total Net Assets Fund Balance$159,347,600$146,915,561▼ $12,432,039
Total Liabilities and Net Assets / Fund Balance$1,468,974,903$1,475,579,183▲ $6,604,280

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$14,490,421$18,439,968$32,930,389
Equipment$7,635,483$13,353,767$20,989,250
Land$12,008,803-$12,008,803
Leasehold Improvements$0$708,398$708,398
Other Land Buildings$484,602$0$484,602
Other Securities$261,773,859--
Compensation and Service Providers
Top Officer Pay32nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
-President/CEOFT$148,749$619,099$767,848
-CFOFT$322,526$53,063$375,589
-COOFT$279,871$51,439$331,310
-SVP of Human ResourcesFT$138,795$103,029$241,824
-Avp of Enterprise SecurityFT$143,151$74,959$218,110
-VP of Remote DeliveryFT$133,912$72,570$206,482
-VP of Real Estate LendingFT$129,491$74,856$204,347
-SVP of Risk & ComplianceFT$129,439$54,467$183,906
-Interim CFOFT$146,207$12,960$159,167

Board Members and Trustees

NameTitle
-Chair
-Vice Chair
-Director
-Secretary
-Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$66,185,154
Investment Income
$6,801,349
Other Revenue
$4,773,942
Change in Net Assets
$11,240,558

Audited Revenue Reconciliation

Revenue per Audited Statements
$77,760,445
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$77,760,445
Total Revenue per Form 990
$77,760,445
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$33,549,461
Salaries, Compensation, and Employee Benefits$32,938,376
Grants and Similar Amounts Paid$32,050
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons---$22,831,816
Office Expenses---$8,464,279
Information Technology---$4,919,196
Other Employee Benefits---$4,251,551
Interest---$3,935,421
Depreciation Depletion---$3,547,535
Occupancy---$2,297,174
Current Officers, Directors, Trustees, and Key Employees---$2,081,857
Payroll Taxes---$1,972,427
Pension Plan Contributions---$1,800,725
Advertising---$1,328,012
Fees for Services Accounting---$511,443
Travel---$381,088
Insurance---$366,721
Fees for Services Other---$316,896
Conferences and Meetings---$228,611
Fees for Services Legal---$152,894
Other Expenses---$98,559
Grants to Domestic Individuals---$32,050
Total Functional Expenses$0$0$0$66,519,887

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$66,519,887
Total Expenses per Audited Statements$66,519,887
Total Expenses per Form 990$66,519,887
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
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
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Card Settlement$7,413,830
Accrued Expenses$5,189,519
Employee Benefits$3,836,158
Suspense Accounts$2,145,023
Misc Liabilities$241,225
Accrued Dividends$4,523
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 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
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6 Classes of members or stockholders

“Credit union account holders are members.”

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

“Members can vote to elect the governing body at the annual meeting.”

Form 990, Part VI, Line 11B Review of form 990 by governing body

“The 990 was reviewed and approved by the officers and board of directors before it was filed.”

Form 990, Part VI, Line 12C Conflict of interest policy

“Employees sign annually that they have read and understand the conflicts of interest policy. Board of directors report in writing any conflicts of interest annually.”

Form 990, Part VI, Line 15A Process to establish compensation of top management official

“Ceo compensation is approved by the board of directors. Compensation surveys are obtained and the compensation review and approval process is documented. Process last completed in 2022.”

Form 990, Part VI, Line 15B Process to establish compensation of other employees

“Compensation is approved by the president. Compensation surveys are obtained and the compensation review and approval process is documented”

Form 990, Part VI, Line 19 Required documents available to the public

“Documents are made available upon request.”

Form 990, Part VIII, Line 11D Other Miscellaneous Revenue

“AD&D and Other Ins Fees - Total Revenue: 280433, Related or Exempt Function Revenue: 280433, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Computer Services - Total Revenue: 108884, Related or Exempt Function Revenue: , Unrelated Business Revenue: 108884, Revenue Excluded from Tax Under Sections 512, 513, or 514: ; MBI - Total Revenue: 57600, Related or Exempt Function Revenue: , Unrelated Business Revenue: 57600, Revenue Excluded from Tax Under Sections 512, 513, or 514: ;”

Filing and Contact Details

Filer

Filer Name
Credit Union 1
EIN
92-0021481
Phone
9073399485
Address
1941 Abbott Road, Anchorage, AK 99507

Signing Officer

Name
Mark Burgess
Title
President, CEO
Phone
9073398138
Signed
2023-10-03

Organization Details

Formed
1982
Legal Domicile
Ak
Voting Board Members
7
Independent Board Members
7
Employees
524
Volunteers
10
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

“Reclassification for Realized Investment (Gains) Losses Included in Net Income/Loss - 0;”

Schedule L, Part I BUSINESS TRANSACTIONS

“Business transactions between the credit union and interested persons as members of the credit union with the same terms offered to other members of the credit union were not included on schedule l”

Financial Statement Notes

Schedule D, Part IV, Line 2B Mortgage Escrow

“Escrow amount represents mortgage loan reserves. See Statement”

Schedule D, Part IV, Line 2B Explanation of escrow agreement

“Escrow amount represents mortgage loan reserves”

Raw XML AppendixShowing 400 of 663 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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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,475,579,183
Liabilities
$1,328,663,622
Net assets
$146,915,561
Revenue
$77,760,445
Expenses
$66,519,887
Net income
$11,240,558
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,469$1,292$177$101$86.6$14.1
2023Detailed filing. Detailed filing data is available for this year.$1,520$1,359$161$92.4$83.3$9.11
2022Detailed filing. Detailed filing data is available for this year.$1,476$1,329$147$77.8$66.5$11.2
2021Detailed filing. Detailed filing data is available for this year.$1,469$1,310$159$70.7$56.2$14.5
2020Detailed filing. Detailed filing data is available for this year.$1,294$1,144$150$65.3$58.8$6.53
2019Detailed filing. Detailed filing data is available for this year.$1,090$949$141$68.6$58.6$10.0
2018Detailed filing. Detailed filing data is available for this year.$1,023$897$126$66.5$57.6$8.89
2017Detailed filing. Detailed filing data is available for this year.$1,007$888$119$65.4$62.9$2.55
2016Detailed filing. Detailed filing data is available for this year.$975$859$117$63.9$58.1$5.83
2015Detailed filing. Detailed filing data is available for this year.$925$814$111$59.4$51.5$7.93
2014Detailed filing. Detailed filing data is available for this year.$890$786$104$56.9$47.4$9.53
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$862$767$95.4$44.9
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$827$736$90.6$42.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$765$681$84.2$39.2
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$719$643$76.5$41.0