Christian Family Credit Union Inc
- Assets
- $92.8m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 19
- Location
- Milford, OH
- Founding
- 04/1969
- Data as of
- 12/2021
- EIN
- 34-1035977
Organization Overview
Christian Family Credit Union Inc is located in Milford, OH. The organization was established in 1969. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Christian Family Credit Union Inc employed 19 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Christian Family Credit Union Inc 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, Christian Family Credit Union Inc generated $2.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $2.4m during the year ending 12/2021. 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
THE MISSION OF CHRISTIAN FAMILY CREDIT UNION IS TO PROVIDE SOLUTIONS FOR OUR MEMBERS TO ACHIEVE FINANCIAL SECURITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS A STATE CHARTERED MEMBER OWNED COOPERATIVE CREDIT UNION THAT PROVIDES FINANCIAL SERVICES FOR THE MEMBER OWNERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
C Russell Abbott President/ce | Officer | 40 | $143,835 |
Karen Riel COO | Officer | 40 | $93,590 |
Robin Chappel VP Member So | Officer | 40 | $63,076 |
Leo Feldmann Financial Of | Officer | 40 | $57,585 |
Terry Laws Loan Officer | Officer | 40 | $54,821 |
John Gordon Director | Trustee | 1 | $0 |
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 | $2,154,608 |
| Investment income | $534,683 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,879 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,695,170 |
| 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. | $412,907 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $112,755 |
| Other salaries and wages | $388,295 |
| Pension plan accruals and contributions | $108,170 |
| Other employee benefits | $65,077 |
| Payroll taxes | $69,368 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,240 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $208,699 |
| Advertising and promotion | $48,365 |
| Office expenses | $302,793 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $100,878 |
| Travel | $13,753 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,776 |
| Interest | $224,278 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $39,426 |
| Insurance | $24,044 |
| All other expenses | $0 |
| Total functional expenses | $2,401,410 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,763,153 |
| Savings and temporary cash investments | $0 |
| 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 | $38,264,885 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,592,272 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $44,018,097 |
| Intangible assets | $0 |
| Other assets | $1,209,681 |
| Total assets | $92,848,088 |
| Accounts payable and accrued expenses | $100,556 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $81,947,730 |
| Total liabilities | $82,048,286 |
| 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 | $10,799,802 |
| Total liabilities and net assets/fund balances | $92,848,088 |
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