1206 Superior Savings Credit Union
- Assets
- $29.9m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 11
- Location
- Massillon, OH
- Founding
- 04/1969
- Data as of
- 12/2021
- EIN
- 34-6612882
Organization Overview
1206 Superior Savings Credit Union is located in Massillon, 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, 1206 Superior Savings Credit Union employed 11 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. 1206 Superior Savings 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, 1206 Superior Savings Credit Union generated $1.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of 0.0% each year. All expenses for the organization totaled $1.0m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.1%) per year over the past 7 years. 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
GRANTING LOANS AND PROVIDING OTHER FINANCIAL SERVICES TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBER LOANS - THE CREDIT UNION STRIVES TO PROVIDE ITS MEMBERS WITH FINANCIAL FLEXIBILITY AND ENCOURAGE SAVINGS WITH VARIOUS TYPES OF LOANS IN THE FOLLOWING CATEGORIES: AUTOMOBILE LOANS, MORTGAGE LOANS, SHARE-SECURED LOANS, HOME IMPROVEMENT LOANS, PERSONAL LOANS, AND OTHER VARIOUS TYPES. AS OF YEAR END, THE CREDIT UNION HAD 1,016 LOANS OUTSTANDING.
DEPOSITORY ACCOUNTS - THE CREDIT UNION STRIVES TO PROVIDE ITS MEMBERS WITH FINANCIAL FLEXIBILITY AND ENCOURAGE SAVINGS WITH VARIOUS TYPES OF DEPOSITORY ACCOUNTS. THE CREDIT UNION CURRENTLY OFFERS DEPOSITORY ACCOUNTS IN VARIETIES SUCH AS DRAFT ACCOUNTS, CHECKING ACCOUNTS, SAVINGS ACCOUNTS, CERTIFICATE OF DEPOSIT ACCOUNTS, INDIVIDUAL RETIREMENT ACCOUNTS, CHRISTMAS CLUB ACCOUNTS, AND OTHER VARIOUS TYPES. AS OF THE YEAR END, THERE WERE 4,773 DEPOSITORY ACCOUNTS HELD AT THE CREDIT UNION.
DEBIT CARD PROGRAM - THE CREDIT UNION STRIVES TO PROVIDE ITS MEMBERS WITH FINANCIAL FLEXIBILITY AND ENCOURAGE SAVINGS WITH THE ALLOWANCE OF A DEBIT CARD.
MEMBER SERVICES, INCLUDING INTERNET BANKING, BILL PAY, DIRECT DEPOSIT, AND PAYROLL DEDUCTION IN ORDER TO PROVIDE MEMBERS WITH FASTEST AND SAFEST WAYS OF TRANSACTING BUSINESS. INCLUDES OVERDRAFT PROTECTION TO ASSIST MEMBERS WITH SERVICES TO AVOID UNWANTED FEES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah J Carpenter CEO | Officer | 40 | $150,170 |
Larry Linn Vice President | OfficerTrustee | 2 | $0 |
Sandra Norman President | OfficerTrustee | 2 | $0 |
Shari Middaugh Secretary | OfficerTrustee | 2 | $0 |
David Dourm Director | Trustee | 2 | $0 |
Donald Gray Director | Trustee | 2 | $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 | $823,937 |
| Investment income | $152,828 |
| 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 | $1,099,083 |
| 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. | $153,539 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $291,824 |
| Pension plan accruals and contributions | $6,587 |
| Other employee benefits | $19,973 |
| Payroll taxes | $28,626 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $99,506 |
| Advertising and promotion | $20,366 |
| Office expenses | $24,172 |
| Information technology | $33,707 |
| Royalties | $0 |
| Occupancy | $54,634 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,778 |
| Insurance | $29,776 |
| All other expenses | $0 |
| Total functional expenses | $1,039,157 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,187,090 |
| Savings and temporary cash investments | $18,662,832 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,403,027 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $128,970 |
| Net Land, buildings, and equipment | $526,186 |
| Investments—publicly traded securities | $293,303 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $654,566 |
| Total assets | $29,855,974 |
| Accounts payable and accrued expenses | $302,601 |
| 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 | $27,006,610 |
| Total liabilities | $27,309,211 |
| 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 | $2,546,763 |
| Total liabilities and net assets/fund balances | $29,855,974 |
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