Civic Intelligence

Credit Union 1

990 • Fiscal year 2023 • EIN 92-0021481

Jan 01, 2023 to Dec 31, 2023 • Filed on Sep 18, 2024

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

21st percentile

0.89x

Higher debt load relative to assets than 21% of similar nonprofits.

2023 filings • 501(c)14 • $1B+ nonprofits • Source year 2023

Liabilities / Revenue

17th percentile

14.70x

Higher debt load relative to revenue than 17% of similar nonprofits.

2023 filings • 501(c)14 • $1B+ nonprofits • Source year 2023

Net Margin

42nd percentile

9.9%

Higher net margin than 42% of similar nonprofits.

2023 filings • 501(c)14 • $1B+ nonprofits • Source year 2023

Top Officer Pay

13th percentile

$605,792

Higher top officer pay than 13% of similar nonprofits.

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

2023 filings • 501(c)14 • $1B+ nonprofits • Source year 2023

Asset Growth

47th percentile

3.0%

Faster asset growth than 47% of similar nonprofits.

2023 filings • 501(c)14 • $1B+ nonprofits • Annualized from 2022 to 2023

Revenue Growth

16th percentile

19%

Faster revenue growth than 16% of similar nonprofits.

2023 filings • 501(c)14 • $1B+ nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets21st percentile

Assets

Up

$1,519,582,740

Up $44,003,557 (+3.0%) from 2022

Net Assets

Up

$160,935,800

Up $14,020,239 (+9.5%) from 2022

Liabilities

Up

$1,358,646,940

Up $29,983,318 (+2.3%) from 2022

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin42nd percentile

Revenue

Up

$92,423,998

Up $14,663,553 (+19%) from 2022

Expenses

Up

$83,312,210

Up $16,792,323 (+25%) from 2022

Net Income

Down

$9,111,788

Down $2,128,770 (-19%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth47th 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

2023

Assets$1,519,582,740
Liabilities$1,358,646,940
Net Assets$160,935,800
Open 2023 Filing

Operations Trend

Revenue Growth16th 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

2023

Revenue$92,423,998
Expenses$83,312,210
Net Income$9,111,788
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Sep 18, 2024
Return Version
2023v5.1
Gross Receipts
$96,634,096
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$998,289,510$1,062,262,338▲ $63,972,828
Investments Other Securities$261,773,859$230,574,595▼ $31,199,264
Rtn Earn Endowment Incm Other Fnds$146,915,561$160,935,800▲ $14,020,239
Savings and Temporary Cash Investments$108,616,803$118,800,615▲ $10,183,812
Land, Buildings, and Equipment, Net$34,619,309$38,878,409▲ $4,259,100
Cash and Non-Interest-Bearing Accounts$17,932,010$20,075,571▲ $2,143,561
Prepaid Expenses and Deferred Charges$2,709,495$3,099,698▲ $390,203
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$1,475,579,183$1,519,582,740▲ $44,003,557
Other Assets Total$51,638,197$45,891,514▼ $5,746,683
Liabilities
Accounts Payable and Accrued Expenses$1,306,317,304$1,183,276,946▼ $123,040,358
Unsecured Notes Loans Payable-$150,000,000-
Other Liabilities$18,830,278$21,767,097▲ $2,936,819
Escrow Account Liability$3,516,040$3,602,897▲ $86,857
Total Liabilities$1,328,663,622$1,358,646,940▲ $29,983,318
Net Assets / Fund Balance
Total Net Assets Fund Balance$146,915,561$160,935,800▲ $14,020,239
Total Liabilities and Net Assets / Fund Balance$1,475,579,183$1,519,582,740▲ $44,003,557

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$13,375,841$19,626,097$33,001,938
Equipment$8,761,689$15,172,501$23,934,190
Land$13,430,135-$13,430,135
Other Land Buildings$3,310,744$0$3,310,744
Leasehold Improvements$0$708,398$708,398
Other Securities$230,574,595--
Compensation and Service Providers
Top Officer Pay13th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
-President/CEOFT$387,214$218,578$605,792
-Avp of Enterprise SecurityFT$159,159$146,842$306,001
-SVP of Human ResourcesFT$169,902$135,729$305,631
-CTOFT$243,848$49,924$293,772
-CFOFT$204,162$84,345$288,507
-VP of Project SolutionsFT$141,591$133,058$274,649
-COOFT$213,363$54,831$268,194
-VP of Real Estate LendingFT$141,357$88,669$230,026
-SVP of Risk and ComplianceFT$157,270$69,945$227,215
-CLOFT$130,845$65,202$196,047

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$78,161,747
Investment Income
$10,050,516
Other Revenue
$4,211,735
Change in Net Assets
$9,111,788

Audited Revenue Reconciliation

Revenue per Audited Statements
$92,423,998
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$92,423,998
Total Revenue per Form 990
$92,423,998
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$48,245,617
Salaries, Compensation, and Employee Benefits$35,036,043
Grants and Similar Amounts Paid$30,550
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons---$25,625,883
Office Expenses---$9,067,994
Interest---$8,954,500
Information Technology---$5,193,700
Other Employee Benefits---$4,081,848
Depreciation Depletion---$3,737,837
Occupancy---$2,459,570
Payroll Taxes---$2,153,991
Current Officers, Directors, Trustees, and Key Employees---$1,652,312
Pension Plan Contributions---$1,522,009
Advertising---$789,874
Travel---$551,852
Insurance---$436,543
Fees for Services Accounting---$421,124
Fees for Services Other---$376,601
Conferences and Meetings---$314,403
Other Expenses---$73,269
Grants to Domestic Individuals---$30,550
Fees for Services Legal---$20,567
Total Functional Expenses$0$0$0$83,312,210

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$83,312,210
Total Expenses per Audited Statements$83,312,210
Total Expenses per Form 990$83,312,210
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$6,888,586
Accrued Expenses$6,439,501
Suspense Accounts$4,801,092
Employee Benefits$3,352,710
Misc Liabilities$284,754
Accrued Dividends$454
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 2023.”

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

“All other revenue - Total Revenue: 239505, Related or Exempt Function Revenue: 146407, Unrelated Business Revenue: 93098, 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
2024-09-18

Organization Details

Formed
1982
Legal Domicile
Ak
Voting Board Members
7
Independent Board Members
7
Employees
516
Volunteers
10
Supplemental Narrative

Additional Explanations

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”

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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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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,519,582,740
Liabilities
$1,358,646,940
Net assets
$160,935,800
Revenue
$92,423,998
Expenses
$83,312,210
Net income
$9,111,788
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