Americu Credit Union
- Assets
- $2.7b
- Revenue
- $153.3m
- Investments
- $245.2m
- Employees
- 465
- Location
- Rome, NY
- Founding
- Data as of
- 12/2023
- EIN
- 15-0542361
Organization Overview
Americu Credit Union is located in Rome, NY. As of 12/2023, Americu Credit Union employed 465 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 12/2023, Americu Credit Union generated $153.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $135.4m during the year ending 12/2023. While expenses have increased by 10.4% per year over the past 8 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
TO PROVIDE FINANCIAL AND BANKING SERVICES TO CREDIT UNION MEMBERSHIP. 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 |
|---|---|---|---|
John Stevenson Director | Trustee | 2 | $0 |
George Bauer Director | Trustee | 2 | $0 |
Terri Tulowiecki Chief Financial Officer | Trustee | 2 | $0 |
Ryan Kuhns Recording Secretary/ Bod | Trustee | 2 | $0 |
Joseph Turczyn Director | Trustee | 2 | $0 |
Jennifer Stowell Vice Chairman Of The Board | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Amplifi Credit Card Rewards Vendor | 12/30/23 | $1,409,837 |
Cdw Direct Llc Technology Solutions | 12/30/23 | $473,758 |
Abrigo Technology & Communication Services | 12/30/23 | $453,235 |
Lanvera Ltd Technology & Communication Services | 12/30/23 | $410,338 |
Gerent Llc Salesforce Consulting | 12/30/23 | $318,725 |
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 | $140,858,288 |
| Investment income | $8,631,558 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$76,399 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $153,285,369 |
| 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. | $3,279,381 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $24,071,053 |
| Pension plan accruals and contributions | $941,904 |
| Other employee benefits | $3,823,843 |
| Payroll taxes | $2,725,763 |
| Fees for services: Management | $1,688,164 |
| Fees for services: Legal | $90,507 |
| Fees for services: Accounting | $173,909 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $200,265 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,914,844 |
| Office expenses | $6,123,479 |
| Information technology | $9,652,118 |
| Royalties | $0 |
| Occupancy | $2,930,349 |
| Travel | $238,085 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $344,765 |
| Interest | $9,163,976 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,714,566 |
| Insurance | $420,323 |
| All other expenses | $1,746,895 |
| Total functional expenses | $135,400,466 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,524,234 |
| Savings and temporary cash investments | $81,650,172 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,975,430 |
| Loans from Officers, Directors, or Controlling Persons | $17,149,045 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,534,314 |
| Net Land, buildings, and equipment | $26,797,557 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $245,244,187 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,282,028,558 |
| Total assets | $2,686,903,497 |
| Accounts payable and accrued expenses | $14,695,607 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $11,221 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $205,569,275 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,248,058,290 |
| Total liabilities | $2,468,334,393 |
| 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 | $218,569,104 |
| Total liabilities and net assets/fund balances | $2,686,903,497 |