Civic Intelligence

Usagencies Credit Union

990 • Fiscal year 2020 • EIN 93-0256538

Jan 01, 2020 to Dec 31, 2020 • Filed on Apr 21, 2021

Organization Profilewww.forritcu.org

View Organization Page

95 SW Taylor StPortland, OR 97204

(503) 275-0300

Siviq Scores

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

Liabilities / Assets

2nd percentile

0.00x

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

2020 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2020

Liabilities / Revenue

2nd percentile

0.12x

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

2020 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2020

Net Margin

58th percentile

11%

Higher net margin than 58% of similar nonprofits.

2020 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2020

Top Officer Pay

98th percentile

$377,229

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 10.9% of source-year revenue.

2020 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2020

Asset Growth

32nd percentile

12%

Faster asset growth than 32% of similar nonprofits.

2020 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Revenue Growth

17th percentile

-11%

Faster revenue growth than 17% of similar nonprofits.

2020 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets2nd percentile

Assets

Up

$95,505,501

Up $10,401,858 (+12%) from 2019

Net Assets

Up

$95,106,302

Up $10,748,022 (+13%) from 2019

Liabilities

Down

$399,199

Down $346,164 (-46%) from 2019

Revenue And Expenses
Liabilities / Revenue2nd percentileNet Margin58th percentile

Revenue

Down

$3,459,575

Down $422,543 (-11%) from 2019

Expenses

Down

$3,063,285

Down $229,665 (-7.0%) from 2019

Net Income

Down

$396,290

Down $192,878 (-33%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth32nd percentile

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

$150M$100M$50M$0Assets 2010: $67,978,529Liabilities 2010: $431,965Net Assets 2010: $67,546,5642010Assets 2011: $68,322,245Liabilities 2011: $322,459Net Assets 2011: $67,999,7872011Assets 2012: $70,001,796Liabilities 2012: $447,889Net Assets 2012: $69,553,9072012Assets 2013: $72,771,546Liabilities 2013: $367,355Net Assets 2013: $72,404,1912013Assets 2014: $75,974,448Liabilities 2014: $399,864Net Assets 2014: $75,574,5842014Assets 2015: $80,796,873Liabilities 2015: $464,981Net Assets 2015: $80,331,8922015Assets 2016: $85,499,014Liabilities 2016: $424,108Net Assets 2016: $85,074,9062016Assets 2017: $87,629,683Liabilities 2017: $551,515Net Assets 2017: $87,078,1682017Assets 2018: $88,297,148Liabilities 2018: $562,352Net Assets 2018: $87,734,7962018Assets 2019: $85,103,643Liabilities 2019: $745,363Net Assets 2019: $84,358,2802019Assets 2020: $95,505,501Liabilities 2020: $399,199Net Assets 2020: $95,106,3022020Assets 2021: $105,147,440Liabilities 2021: $331,958Net Assets 2021: $104,815,4822021Assets 2022: $102,177,265Liabilities 2022: $548,644Net Assets 2022: $101,628,6212022Assets 2023: $98,950,614Liabilities 2023: $693,243Net Assets 2023: $98,257,3712023Assets 2024: $93,697,179Liabilities 2024: $83,319,960Net Assets 2024: $10,377,2192024

Highlighted filing

2020

Assets$95,505,501
Liabilities$399,199
Net Assets$95,106,302
Open 2020 Filing

Operations Trend

Revenue Growth17th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $2,856,3162010Expenses 2011: $2,575,9512011Expenses 2012: $2,425,6422012Revenue 2013: $2,831,164Expenses 2013: $2,500,356Net Income 2013: $330,8082013Revenue 2014: $2,825,457Expenses 2014: $2,542,302Net Income 2014: $283,1552014Revenue 2015: $2,969,193Expenses 2015: $2,689,858Net Income 2015: $279,3352015Revenue 2016: $3,030,018Expenses 2016: $2,735,732Net Income 2016: $294,2862016Revenue 2017: $3,181,844Expenses 2017: $2,789,166Net Income 2017: $392,6782017Revenue 2018: $3,613,816Expenses 2018: $2,787,685Net Income 2018: $826,1312018Revenue 2019: $3,882,118Expenses 2019: $3,292,950Net Income 2019: $589,1682019Revenue 2020: $3,459,575Expenses 2020: $3,063,285Net Income 2020: $396,2902020Revenue 2021: $3,304,560Expenses 2021: $3,106,641Net Income 2021: $197,9192021Revenue 2022: $3,668,740Expenses 2022: $3,773,118Net Income 2022: -$104,3782022Revenue 2023: $4,552,072Expenses 2023: $4,328,101Net Income 2023: $223,9712023Revenue 2024: $5,226,564Expenses 2024: $5,533,549Net Income 2024: -$306,9852024

Highlighted filing

2020

Revenue$3,459,575
Expenses$3,063,285
Net Income$396,290
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Apr 21, 2021
Return Version
2020v4.0
Gross Receipts
$3,459,575
Mission and Program Overview

Mission

We provide solutions to improve each of our members financial lives by offering competitive-low fee services and providing financial literacy through education events.

We provide solutions to improve each members financial life by providing savings, investments, and consumer loan products at favorable rates with minimal fees.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$74,255,500$84,607,232▲ $10,351,732
Other Notes and Loans Receivable, Net$46,785,301$51,504,847▲ $4,719,546
Savings and Temporary Cash Investments$32,342,765$37,330,110▲ $4,987,345
Rtn Earn Endowment Incm Other Fnds$10,102,780$10,499,070▲ $396,290
Cash and Non-Interest-Bearing Accounts$4,820,289$5,162,915▲ $342,626
Prepaid Expenses and Deferred Charges$112,217$312,613▲ $200,396
Land, Buildings, and Equipment, Net$73,489$112,556▲ $39,067
Accounts Receivable$22,132$110,701▲ $88,569
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$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$85,103,643$95,505,501▲ $10,401,858
Other Assets Total$947,450$971,759▲ $24,309
Liabilities
Accounts Payable and Accrued Expenses$745,363$399,199▼ $346,164
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$745,363$399,199▼ $346,164
Net Assets / Fund Balance
Total Net Assets Fund Balance$84,358,280$95,106,302▲ $10,748,022
Total Liabilities and Net Assets / Fund Balance$85,103,643$95,505,501▲ $10,401,858

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$0$0$0
Other Land Buildings$0$0$0
Land$0-$0
Equipment$105,670$558,588$0
Leasehold Improvements$6,886$117,896$0
Compensation and Service Providers
Top Officer Pay98th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
James LumpkinCEO/PresidentFT$24,075$353,154$377,229
Kathleen ScholesVice President/CFOFT$115,157-$115,157
Justin OlsonCEO/PresidentFT$105,702-$105,702

Board Members and Trustees

NameTitle
William KirchnerBoard Chair
Lorene BayBoard 1st Vice Chair
Barbara KvetonBoard 2nd Vice Chair
Michael MouzongBoard Member
Nick QuinataBoard Member
Patricia HyattBoard Member
Lynn VoigtBoard Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,796,527
Investment Income
$663,048
Other Revenue
$0
Change in Net Assets
$396,290
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,695,945
Salaries, Compensation, and Employee Benefits$1,367,340
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$598,088
Information Technology---$441,386
Other Salaries and Wages---$426,444
Interest---$259,184
Occupancy---$171,176
Other Employee Benefits---$130,990
Fees for Services Accounting---$119,402
Payroll Taxes---$107,192
Pension Plan Contributions---$104,626
Fees for Services Management---$99,081
Office Expenses---$69,289
Advertising---$62,305
Depreciation Depletion---$46,699
Insurance---$24,166
Other Expenses---$19,037
Conferences and Meetings---$10,703
Fees for Services Legal---$8,501
Travel---$6,727
Total Functional Expenses$0$0$0$3,063,285
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
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
No
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
No
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

“Form 990, Part VI, Section A, Line 6 - The credit union has 6043 members. Forrit Credit Union is a member owned cooperative.”

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

“Form 990, Part VI, Section A, Line 7a - The credit union has 6043 members. A quorum of these members elects the board members based on term expiration each year at the Annual membership meeting. An election notice is mailed or provided electronically.”

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

“Form 990, Part VI, Section A, Line 7b - The members elect the governing body. In addition they can request a special meeting of the Board, suspend the order of business at the annual meeting, vote to remove directors and the CEO, and on Board merger decisions.”

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

“From 990, Part VI, Section B, Line 11b - The 990 is prepared by the Director of Finance and reviewed by the President/CEO. The report is not presented to the Board but is made available for review.”

Form 990, Part VI, Section B, Line 15

“Form 990, Part VI, Section B, Line 15 - The Board of Directors conducts an annual performance evaluation of the CEO. The Board grants the CEO authority to set salaries for staff. Salaries ranges are set based on salary surveys, local adjustment factors and peer review.”

Form 990, Part VI, Section C, Line 19

“Form 990, Part VI, Section C, Line 19 - Monthly financial statements are posted in the lobby of the credit union. An annual report is provided at the annual membership meeting.”

Filing and Contact Details

Filer

Filer Name
Forrit Credit Union
EIN
93-0256538
Phone
5032750300
Address
95 SW Taylor St, Portland, OR 97204

Signing Officer

Name
Justin Olson
Title
CEO/President
Phone
5032750333
Signed
2021-04-21

Organization Details

Principal Officer
Justin Olson
Formed
1936
Legal Domicile
Or
Voting Board Members
7
Independent Board Members
7
Employees
19
Volunteers
10
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Form 990, Part XI, Line 9 - Assets increased in our deposit accounts, primarily due to stimulus deposits, along with loan growth.”

Financial Statement Notes

Schedule D, Part IX

“Schedule D, Part IX - Accrued interest and NCUSIF Capitalization Deposit”

Raw XML AppendixShowing 400 of 454 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/OtherAssetsTotalGrp/BOYAmt0947450
IRS990/OtherAssetsTotalGrp/EOYAmt0971759
IRS990/OtherChangesInNetAssetsAmt010351732
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0130990
IRS990/OtherExpensesGrp/Desc0Loan Servicing
IRS990/OtherExpensesGrp/Desc1Provision for Loan Loss
IRS990/OtherExpensesGrp/Desc2Miscellaneous
IRS990/OtherExpensesGrp/TotalAmt0236989
IRS990/OtherExpensesGrp/TotalAmt1121300
IRS990/OtherExpensesGrp/TotalAmt219037
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt0426444
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt046785301
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt051504847
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt0107192
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt0104626
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0112217
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0312613
IRS990/PrincipalOfficerNm0Justin Olson
IRS990/PriorPeriodAdjustmentsAmt00
IRS990/ProfessionalFundraisingInd00
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IRS990/ProgramServiceRevenueGrp/BusinessCd2522130
IRS990/ProgramServiceRevenueGrp/Desc0Interest on loans
IRS990/ProgramServiceRevenueGrp/Desc1Loans and account fees
IRS990/ProgramServiceRevenueGrp/Desc2Other miscellaneous income
IRS990/ProgramServiceRevenueGrp/ExclusionAmt02167654
IRS990/ProgramServiceRevenueGrp/ExclusionAmt1239359
IRS990/ProgramServiceRevenueGrp/ExclusionAmt2389514
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt10
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt20
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02167654
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1239359
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2389514
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt20
IRS990/ProgSrvcAccomActy2Grp/Desc0Interest & dividends paid on savings, certificate of deposit and borrowings
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0926415
IRS990/PYOtherExpensesAmt01708930
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt02955703
IRS990/PYRevenuesLessExpensesAmt0589168
IRS990/PYSalariesCompEmpBnftPaidAmt01584020
IRS990/PYTotalExpensesAmt03292950
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03882118
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0396290
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt010102780
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt010499070
IRS990/SavingsAndTempCashInvstGrp/BOYAmt032342765
IRS990/SavingsAndTempCashInvstGrp/EOYAmt037330110
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt00
IRS990ScheduleD/BuildingsGrp/DepreciationAmt00
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt0105670
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0558588
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0664258
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt06886
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0117896
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt0124782
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Schedule D, Part IX - Accrued interest and NCUSIF Capitalization Deposit
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part IX
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0112556
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt024075
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount0353154
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0James Lumpkin
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO/President
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0377229
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0The Board performs an annual performance evaluation for President/CEO. Pay increases are based on overall performance in meeting the KPIs set by the Board and Management in the Strategic Plan. Salary surveys are used to determine pay range based on region and peer data.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule J, Part I, Line 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Form 990, Part VI, Section A, Line 6 - The credit union has 6043 members. Forrit Credit Union is a member owned cooperative.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Form 990, Part VI, Section A, Line 7a - The credit union has 6043 members. A quorum of these members elects the board members based on term expiration each year at the Annual membership meeting. An election notice is mailed or provided electronically.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Form 990, Part VI, Section A, Line 7b - The members elect the governing body. In addition they can request a special meeting of the Board, suspend the order of business at the annual meeting, vote to remove directors and the CEO, and on Board merger decisions.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3From 990, Part VI, Section B, Line 11b - The 990 is prepared by the Director of Finance and reviewed by the President/CEO. The report is not presented to the Board but is made available for review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Form 990, Part VI, Section B, Line 15 - The Board of Directors conducts an annual performance evaluation of the CEO. The Board grants the CEO authority to set salaries for staff. Salaries ranges are set based on salary surveys, local adjustment factors and peer review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Form 990, Part VI, Section C, Line 19 - Monthly financial statements are posted in the lobby of the credit union. An annual report is provided at the annual membership meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Form 990, Part XI, Line 9 - Assets increased in our deposit accounts, primarily due to stimulus deposits, along with loan growth.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, Line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part XI, Line 9
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt00
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt085103643
IRS990/TotalAssetsEOYAmt095505501
IRS990/TotalAssetsGrp/BOYAmt085103643
IRS990/TotalAssetsGrp/EOYAmt095505501
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt019
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt03063285
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0745363
IRS990/TotalLiabilitiesEOYAmt0399199
IRS990/TotalLiabilitiesGrp/BOYAmt0745363
IRS990/TotalLiabilitiesGrp/EOYAmt0399199
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt084358280
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt095106302
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$95,505,501
Liabilities
$399,199
Net assets
$95,106,302
Revenue
$3,459,575
Expenses
$3,063,285
Net income
$396,290
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$93.7$83.3$10.4$5.23$5.53$0.31
2023Detailed filing. Detailed filing data is available for this year.$99.0$0.69$98.3$4.55$4.33$0.22
2022Detailed filing. Detailed filing data is available for this year.$102$0.55$102$3.67$3.77$0.10
2021Detailed filing. Detailed filing data is available for this year.$105$0.33$105$3.30$3.11$0.20
2020Detailed filing. Detailed filing data is available for this year.$95.5$0.40$95.1$3.46$3.06$0.40
2019Detailed filing. Detailed filing data is available for this year.$85.1$0.75$84.4$3.88$3.29$0.59
2018Detailed filing. Detailed filing data is available for this year.$88.3$0.56$87.7$3.61$2.79$0.83
2017Detailed filing. Detailed filing data is available for this year.$87.6$0.55$87.1$3.18$2.79$0.39
2016Detailed filing. Detailed filing data is available for this year.$85.5$0.42$85.1$3.03$2.74$0.29
2015Detailed filing. Detailed filing data is available for this year.$80.8$0.46$80.3$2.97$2.69$0.28
2014Detailed filing. Detailed filing data is available for this year.$76.0$0.40$75.6$2.83$2.54$0.28
2013Detailed filing. Detailed filing data is available for this year.$72.8$0.37$72.4$2.83$2.50$0.33
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$70.0$0.45$69.6$2.43
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$68.3$0.32$68.0$2.58
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$68.0$0.43$67.5$2.86