Triangle Credit Union
- Assets
- $865.7m
- Revenue
- $37.4m
- Investments
- $5.1m
- Employees
- 198
- Location
- Nashua, NH
- Founding
- 11/1976
- Data as of
- 12/2023
- EIN
- 02-0223137
Organization Overview
Triangle Credit Union is located in Nashua, NH. The organization was established in 1976. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Triangle Credit Union employed 198 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Triangle Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2023, Triangle Credit Union generated $37.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $36.4m during the year ending 12/2023. While expenses have increased by 5.9% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CREDIT UNION
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTENANCE OF MEMBER DEPOSIT ACCOUNTS. NUMBER OF DEPOSIT ACCOUNTS IS 105,419. MAKING LOANS TO MEMBERS AT MARKET RATES OF INTEREST. NUMBER OF LOAN ACCOUNTS IS 21,887.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
A Scott Macknight President/ C | 40 | $439,444 | |
Pamela Ford SVP Of Lendi | Officer | 40 | $163,076 |
Jose Rivera Hernandez VP Of Data S | Officer | 40 | $152,671 |
Rebecca Thomas SVP Marketin | Officer | 40 | $143,674 |
Karen Wood SVP Finance/ | Officer | 40 | $154,418 |
Lisa Van Biene VP Of Member | Officer | 40 | $155,946 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Health Plans Inc Medical Ins | 12/30/23 | $2,041,119 |
Ncr Corporation It-atm | 12/30/23 | $934,212 |
Dg Investment Intermediate Hldg Dba Conergent Technologies Inc Atm Maintenance | 12/30/23 | $620,313 |
Fiserv It | 12/30/23 | $784,250 |
Whiting Building Llc Rent | 12/30/23 | $547,750 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $27,264,793 |
| Investment income | $2,914,507 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$143,255 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $37,384,452 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,203,879 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,290,559 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,322,051 |
| Payroll taxes | $733,243 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,953 |
| Fees for services: Accounting | $165,565 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $155,483 |
| Office expenses | $2,783,057 |
| Information technology | $1,436,228 |
| Royalties | $0 |
| Occupancy | $1,412,172 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $185,219 |
| Interest | $12,572,209 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,319,478 |
| Insurance | $115,281 |
| All other expenses | $788,317 |
| Total functional expenses | $36,369,358 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,739,936 |
| Savings and temporary cash investments | $23,504,338 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $616,828,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,759,766 |
| Net Land, buildings, and equipment | $10,480,525 |
| Investments—publicly traded securities | $174,616,154 |
| Investments—other securities | $5,111,900 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $23,703,583 |
| Total assets | $865,744,202 |
| Accounts payable and accrued expenses | $7,589,061 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $131,339,937 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $672,294,578 |
| Total liabilities | $811,223,576 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $54,520,626 |
| Total liabilities and net assets/fund balances | $865,744,202 |