Hoosier Hills Credit Union
- Assets
- $884.5m
- Revenue
- $38.9m
- Investments
- $143.9m
- Employees
- 194
- Location
- Bedford, IN
- Founding
- 08/2019
- Data as of
- 12/2022
- EIN
- 35-1083471
Organization Overview
Hoosier Hills Credit Union is located in Bedford, IN. The organization was established in 2019. 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 12/2022, Hoosier Hills Credit Union employed 194 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hoosier Hills 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, Hoosier Hills Credit Union generated $38.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $33.2m during the year ending 12/2022. While expenses have increased by 7.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SAVINGS AND LOAN PRODUCTS TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STATE CHARTERED COOPERATIVE FINANCIAL INSTITUTION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Travis Markley President/ceo | Officer | 45 | $449,019 |
Joe Ward Chief Financial Officer | Officer | 45 | $213,891 |
Charles King Evp Chief Administrative Officer | Officer | 45 | $210,397 |
Russell Wilkie Evp & Chief Experience Officer | Officer | 45 | $207,517 |
Jay Anderson President-Hoosier Hills Invest | 45 | $209,062 | |
James Aldridge SVP Technology & Innovation | 45 | $209,419 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fiserv Inc Technology | 12/30/22 | $1,083,574 |
Q2 Software Inc Technology | 12/30/22 | $595,536 |
Qsi Inc Technology | 12/30/22 | $421,868 |
Michael Walters Advertising Advertising | 12/30/22 | $345,263 |
Ringcentral Inc Phone System | 12/30/22 | $158,228 |
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 | $28,148,099 |
| Investment income | $2,961,451 |
| 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 | $38,853,089 |
| 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. | $1,262,604 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,465,458 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,345,581 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $93,188 |
| Fees for services: Accounting | $131,465 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,669,809 |
| Advertising and promotion | $1,223,573 |
| Office expenses | $1,793,773 |
| Information technology | $1,616,416 |
| Royalties | $0 |
| Occupancy | $911,092 |
| Travel | $425,917 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,768,987 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,432,606 |
| Insurance | $17,626 |
| All other expenses | $271,303 |
| Total functional expenses | $33,200,619 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,654,522 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $375,416 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $695,421,863 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,535,236 |
| Net Land, buildings, and equipment | $14,220,578 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $143,902,393 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,417,141 |
| Total assets | $884,527,149 |
| Accounts payable and accrued expenses | $6,198,048 |
| 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 | $122,250,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $291,877 |
| Total liabilities | $128,739,925 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $698,685,393 |
| Paid-in or capital surplus, or land, building, or equipment fund | $42,862,345 |
| Retained earnings, endowment, accumulated income, or other funds | $14,239,486 |
| Total liabilities and net assets/fund balances | $884,527,149 |