Americu Credit Union
- Assets
- $2.5b
- Revenue
- $115.0m
- Investments
- $320.4m
- Employees
- 368
- Location
- Rome, NY
- Founding
- Data as of
- 12/2021
- EIN
- 15-0542361
Organization Overview
Americu Credit Union is located in Rome, NY. As of 12/2021, Americu Credit Union employed 368 individuals. Americu 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 12/2021, Americu Credit Union generated $115.0m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 10.6% each year . All expenses for the organization totaled $77.3m during the year ending 12/2021. While expenses have increased by 4.7% per year over the past 5 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FINANCIAL AND BANKING SERVICES TO ITS MEMBERS. THE CREDIT UNION OFFERS SAVINGS, SHARE DRAFTS, MONEY MARKET AND CERTIFICATE SHARE ACCOUNTS AS WELL AS 1ST & 2ND MORTGAGES, AUTO, AND UNSECURED LOAN PRODUCTS TO ITS MEMBERS. THE CREDIT UNION OFFERS THESE SERVICES THROUGH A BRANCH NETWORK, CALL CENTER, ON-LINE AND AUTOMATED ATM AND KIOSK TECHNOLOGIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STATE CHARTERED CREDIT UNION - PROVIDE FINANCIAL SERVICES TO ITS MEMBERSHIP THROUGH A NETWORK OF BRANCHES AND AUTOMATED SYSTEMS AND SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronald Belle President/ceo | Officer | 40 | $615,254 |
Catherine Feltz Senior Mortgage Loan Officer | 40 | $401,741 | |
Fred M Sisk Chief Lending Officer | Officer | 40 | $292,387 |
Patrick Mautner Senior Mortgage Loan Officer | 40 | $291,635 | |
Myles Nashton Senior Mortgage Loan Officer | 40 | $260,863 | |
Jin Gwak Chief Digital And Information Officer | Officer | 40 | $247,677 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Clean Start Systems Cleaning Services | 12/30/21 | $158,725 |
Riehlman Shafer & Shafer Collections | 12/30/21 | $417,786 |
Doug Walda Cleaning Services | 12/30/21 | $155,477 |
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 | $107,058,057 |
| Investment income | $2,961,470 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$109,380 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $115,019,065 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $12,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $878,010 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $20,351,056 |
| Pension plan accruals and contributions | $748,875 |
| Other employee benefits | $2,878,566 |
| Payroll taxes | $1,687,854 |
| Fees for services: Management | $721,454 |
| Fees for services: Legal | $190,655 |
| Fees for services: Accounting | $320,687 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,344,290 |
| Office expenses | $4,164,593 |
| Information technology | $4,462,712 |
| Royalties | $0 |
| Occupancy | $2,200,383 |
| Travel | $168,436 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $144,468 |
| Interest | $1,135,443 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,329,780 |
| Insurance | $380,738 |
| All other expenses | $1,037,643 |
| Total functional expenses | $77,279,338 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,932,755 |
| Savings and temporary cash investments | $186,586,633 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,684,555 |
| Loans from Officers, Directors, or Controlling Persons | $16,708,417 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,266,206 |
| Net Land, buildings, and equipment | $30,140,109 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $320,419,888 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,967,432,370 |
| Total assets | $2,543,170,933 |
| Accounts payable and accrued expenses | $18,419,144 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $10,204,364 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $50,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,268,017,208 |
| Total liabilities | $2,346,640,716 |
| 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 | $25,722,824 |
| Retained earnings, endowment, accumulated income, or other funds | $175,047,045 |
| Total liabilities and net assets/fund balances | $2,543,170,933 |
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