438 Champion Credit Union Inc
- Assets
- $74.8m
- Revenue
- $2.3m
- Investments
- $38.0m
- Employees
- 20
- Location
- Toledo, OH
- Founding
- 04/1969
- Data as of
- 12/2021
- EIN
- 34-4407085
Organization Overview
438 Champion Credit Union Inc is located in Toledo, OH. The organization was established in 1969. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, 438 Champion Credit Union Inc employed 20 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. 438 Champion 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, 438 Champion Credit Union Inc generated $2.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $2.4m during the year ending 12/2021. While expenses have increased by 1.6% per year over the past 7 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
CHAMPION CREDIT UNIONIS A MEMBER OWNED FINANCIAL COOPERATIVE WHOSE MISSION IS TO BE PROGRESSIVE IN PROVIDING THE BEST IN A FULL RANGE OF SERVICES TO OUR MEMBERS WHILE MAINTAINING FINANCIAL STABILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION PROVIDES SEVERAL DEPOSIT ACCOUNT TYPES TO MEMBERS INCLUDING SAVINGS, CHECKING, CERTIFICATES AND OTHER. THE TOTAL NUMBER OF MEMBERS AT 12/31/2021 WAS 5,951.
THE CREDIT UNION PROVIDES A VARIETY OF LOANS TO MEMBERS INCLUDING REAL ESTATE, CREDIT CARD, VEHICLE AND OTHER. THE TOTAL NUMBER OF LOANS OUTSTANDING AT 12/31/2021 WAS 2,337.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Grindle Ceo/treasurer | OfficerTrustee | 40 | $98,212 |
Sheryl Birch Director | Trustee | 1 | $0 |
Judy Buck Director | Trustee | 1 | $0 |
Rosalie Sneider Director | Trustee | 1 | $0 |
Akrum Youssef Director | Trustee | 1 | $0 |
Terry Benton Chairperson | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fiserv Data Processing | 12/30/20 | $408,698 |
Paramount Healthcare Health Insurance | 12/30/20 | $117,913 |
Fiserv Data Processing | 12/30/20 | $408,698 |
Paramount Healthcare Health Insurance | 12/30/20 | $117,913 |
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 | $1,706,864 |
| Investment income | $559,788 |
| 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 | $2,266,652 |
| 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. | $176,150 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $542,272 |
| Pension plan accruals and contributions | $97,079 |
| Other employee benefits | $74,377 |
| Payroll taxes | $47,344 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,290 |
| Fees for services: Accounting | $10,944 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $17,307 |
| Advertising and promotion | $27,104 |
| Office expenses | $281,055 |
| Information technology | $140,431 |
| Royalties | $0 |
| Occupancy | $130,227 |
| Travel | $150 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $61,279 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $111,922 |
| Insurance | $28,984 |
| All other expenses | $43,012 |
| Total functional expenses | $2,354,967 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $891,437 |
| Savings and temporary cash investments | $4,345,923 |
| 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 | $19,605,788 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $25,754 |
| Net Land, buildings, and equipment | $1,661,825 |
| Investments—publicly traded securities | $7,465,189 |
| Investments—other securities | $38,021,391 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,801,345 |
| Total assets | $74,818,652 |
| Accounts payable and accrued expenses | $1,159,899 |
| 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 | $67,002,155 |
| Total liabilities | $68,162,054 |
| 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 | $6,656,598 |
| Total liabilities and net assets/fund balances | $74,818,652 |
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