Baxter Credit Union

Organization Overview

Baxter Credit Union is located in Vernon Hills, IL. The organization was established in 2003. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Baxter 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 12/2022, Baxter Credit Union generated $350.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $293.1m during the year ending 12/2022. While expenses have increased by 11.7% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE ORGANIZATION IS A FULL SERVICE, STATE-CHARTERED CREDIT UNION PROVIDING A BROAD RANGE OF LOAN AND DEPOSIT PRODUCTS AND OTHER FINANCIAL SERVICES TO ITS MEMBERS LOCATED THROUGHOUT THE US AND PUERTO RICO USING VARIOUS CHANNELS INCLUDING BRANCHES, A CALL CENTER, AND THE INTERNET.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDED 6,432 FIRST MORTGAGES FOR $2,165,388,284


PROVIDED 236,145 MEMBER LOANS FOR $4,824,057,051


OFFERED LOANS, DEPOSITS, AND OTHER FINANCIAL SERVICES TO 341,314 MEMBERS


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Chris Cronlund
Information Services
$233,738
Farid Fatehally
Information Services Consulting
$142,412
View All Vendors

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$316,656,002
Investment income $33,786,028
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $350,442,030

Peer Organizations

Organization NameAssets
Baxter Credit Union
Vernon Hills, IL
$350,442,030
Alliant Credit Union
Chicago, IL
$528,339,563
Citizens Equity First Credit Union
Peoria, IL
$271,033,514
GreenState Credit Union UNION
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$418,753,010
Veridian Credit Union
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$284,905,474
Teachers Credit Union
South Bend, IN
$198,079,661
Consumers Cooperative Credit Union
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$132,618,570
Ih Mississippi Valley Credit Union
Moline, IL
$105,810,576
Commonwealth Credit Union
Frankfort, KY
$88,350,902
Department Of Financial Institution Division Of Credit Unions In Ind
Columbus, IN
$88,438,069
Forum Credit Union
Indianapolis, IN
$93,129,055
Scott Credit Union
Edwardsville, IL
$74,654,217

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