Missouri Credit Union
- Assets
- $526.2m
- Revenue
- $19.9m
- Investments
- $243.7m
- Employees
- 132
- Location
- Columbia, MO
- Founding
- Data as of
- 12/2021
- EIN
- 23-7024415
Organization Overview
Missouri Credit Union is located in Columbia, MO. As of 12/2021, Missouri Credit Union employed 132 individuals. Missouri 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, Missouri Credit Union generated $19.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $17.4m during the year ending 12/2021. While expenses have increased by 3.4% per year over the past 6 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
MISSOURI CREDIT UNION (MCU) IS OPERATED FOR MUTUAL PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ONE OF THE CREDIT UNION'S PRIMARY PURPOSES IS TO PROVIDE CREDIT TO ITS MEMBERS AT A COMPETITIVE RATE. THE CREDIT UNION PROVIDES SECURED, UNSECURED AND REAL ESTATE LOANS TO ELIGIBLE MEMBERS. OUT OF 36,193 MEMBERS, THE CREDIT UNION HAD 68,849 LOANS OUTSTANDING AT 12/31/21, INCLUDING MORTGAGES SOLD WITH SERVICING RETAINED.
THE CREDIT UNION OFFERS DEPOSIT SERVICES TO ELIGIBLE MEMBERS. THE CREDIT UNION OFFERS SAVINGS ACCOUNTS, CHECKING ACCOUNTS, CERTIFICATES AND INDIVIDUAL RETIREMENT ACCOUNTS TO ALL MEMBERS. IN ORDER TO MAINTAIN A SHARE ACCOUNT AN INDIVIDUAL MUST BE ELIGIBLE FOR MEMBERSHIP. AT 12/31/21 THERE WERE 65,993 DEPOSIT ACCOUNTS BEING SERVICED.
ONE OF THE DELIVERY CHANNELS FOR THE VARIOUS PRODUCTS IS ELECTRONIC DELIVERY. THE CREDIT UNION OFFERS DEBIT CARDS, ATM ACCESS, AUDIO RESPONSE ACCOUNT ACCESS, INTERNET ACCOUNT ACCESS AND MOBILE ACCOUNT ACCESS. ALL SERVICES ARE OFFERED AT NO COST TO ELIGIBLE MEMBERS. THE CREDIT UNION BELONGS TO THE CO-OP ATM NETWORK WHICH ENABLES MEMBERS TO USE NETWORK RELATED ATMS NATIONWIDE WITH NO SURCHARGE. CREDIT UNION SHARED-BRANCHING TRANSACTIONS ARE ALSO OFFERED NATIONWIDE.
THE CREDIT UNION ALSO OFFERS FIRST TIME HOME BUYER CREDITS, DEBIT CARDS, BRANDED CREDIT CARDS, REMOTE DEPOSIT CAPTURE, ACH ORIGINATION, DIRECT DEPOSIT SERVICES AND WIRE TRANSFERS TO ELIGIBLE MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Harold James President | Officer | 40 | $398,142 |
Robert Perkins CFO | Officer | 40 | $185,448 |
Chengfan Xu Sr Vice President | Officer | 40 | $172,838 |
Deann Barton Sr Vice President | Officer | 40 | $153,778 |
Anthony Ross Smith Sr Vice President | 40 | $130,720 | |
Kristy Bryant Vice President | 40 | $115,644 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Strategy Corps Bazing Checking Rewards | 12/30/21 | $209,541 |
Access Softek Inc Mobile And Home Banking | 12/30/21 | $173,584 |
Jack Henry & Associates Software Support & Maintenance | 12/30/21 | $384,477 |
Bucket Media Media Planning & Buying | 12/30/21 | $387,382 |
Trozzolo Communications Group Advertising | 12/30/21 | $266,244 |
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 | $17,947,112 |
| Investment income | $692,141 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $150,918 |
| Net Gain/Loss on Asset Sales | $1,072,733 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,862,904 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $89,678 |
| Grants and other assistance to domestic individuals. | $40,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,928,102 |
| Compensation of current officers, directors, key employees. | $1,002,418 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,530,434 |
| Pension plan accruals and contributions | $233,608 |
| Other employee benefits | $623,021 |
| Payroll taxes | $384,448 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,195 |
| Fees for services: Accounting | $113,810 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $252,162 |
| Advertising and promotion | $853,509 |
| Office expenses | $1,010,927 |
| Information technology | $580,305 |
| Royalties | $0 |
| Occupancy | $1,206,054 |
| Travel | $80,611 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,740 |
| Interest | $8,426 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,036,719 |
| Insurance | $150,783 |
| All other expenses | $34,017 |
| Total functional expenses | $17,370,865 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,798,870 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $749,928 |
| Loans from Officers, Directors, or Controlling Persons | $7,621,186 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $247,720,958 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $850,031 |
| Net Land, buildings, and equipment | $11,292,660 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $243,705,825 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,491,473 |
| Total assets | $526,230,931 |
| Accounts payable and accrued expenses | $5,497,806 |
| Grants payable | $0 |
| Deferred revenue | $602,589 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,820,580 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $182,967 |
| Other liabilities | $474,320,178 |
| Total liabilities | $482,424,120 |
| 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 | $43,806,811 |
| Total liabilities and net assets/fund balances | $526,230,931 |
Grants Awarded
Over the last fiscal year, Missouri Credit Union has awarded $59,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF COLUMBIA PURPOSE: CAPITAL CONTRIBUTION FOR AN AGRICULTURAL PARK | $25,000 |
Jefferson City, MO PURPOSE: JULY 4TH CELEBRATION | $18,000 |
Salt Lake City, UT PURPOSE: RADIOTHON SPONSORSHIP TO SUPPORT PROGRAM MISSION | $16,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mid-America Nazarene University Olathe, KS | $55,334,319 | $63,656,687 |
Adler University Chicago, IL | $54,030,129 | $55,024,940 |
Cornerstones Of Care Kansas City, MO | $33,252,192 | $62,036,711 |
Foodbank For The Heartland Omaha, NE | $18,090,007 | $45,859,600 |
Oneworld Community Health Centers Inc Omaha, NE | $55,753,804 | $50,338,832 |
Southlake Tri-City Management Corp Merrillville, IN | $41,327,791 | $57,011,175 |
Indiana Organ Procurement Organization Inc Indianapolis, IN | $65,218,746 | $57,064,127 |
Franklin College Of Indiana Franklin, IN | $160,839,660 | $64,884,316 |
Horizon Development Properties Inc Charlotte, NC | $420,836,852 | $43,904,469 |
Vivent Health Inc Milwaukee, WI | $84,987,861 | $66,654,563 |
Donald Danforth Plant Science Center Saint Louis, MO | $503,520,795 | $58,321,490 |
Wheaton Franciscan Healthcare - Southeast Wisconsin Inc St Louis, MO | $170,280,677 | $49,335,705 |