Linxus Credit Union
- Assets
- $20.2m
- Revenue
- $540.5k
- Investments
- $0.0
- Employees
- 5
- Location
- Machesney Park, IL
- Founding
- 09/1941
- Data as of
- 12/2021
- EIN
- 36-1695980
Organization Overview
Linxus Credit Union is located in Machesney Park, IL. The organization was established in 1941. 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, Linxus Credit Union employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Linxus 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, Linxus Credit Union generated $540.5k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $537.4k 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
TO ASSIST OUR MEMBERS IN THE MANAGEMENT OF THEIR FINANCIAL WELL BEING BY PROVIDING LOANS, SAVINGS, CHECKING, AND OTHER FINANCIAL PRODUCTS AND SERVICES IN A FRIENDLY AND PROFESSIONAL MANNER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED SERVICING OF OVER 650 VISA/DEBIT/ATM CARD ACCOUNTS
PROCESSED DEPOSITS, WITHDRAWALS, AND PAYMENTS FOR OVER 3000 ACCOUNTS
PROVIDED NEW CONSUMER AND HOME EQUITY LOANS IN ADDITION TO SERVICING OVER 700 LOAN ACCOUNTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tracy Beyer President | OfficerTrustee | 40 | $83,940 |
Clectice Templeman Director | Trustee | 3 | $0 |
Philip Pfeifer Vice Chairman | Trustee | 3 | $0 |
Kirk Gille Chairman | Trustee | 3 | $0 |
Mike Johnson Treasurer | Trustee | 1 | $0 |
Pauletta Franta Secretary | 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 | $487,866 |
| Investment income | $52,615 |
| 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 | $540,481 |
| 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. | $85,393 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $94,646 |
| Pension plan accruals and contributions | $7,234 |
| Other employee benefits | $38,918 |
| Payroll taxes | $14,102 |
| Fees for services: Management | $0 |
| Fees for services: Legal | -$82 |
| Fees for services: Accounting | $7,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $64,834 |
| Advertising and promotion | $4,708 |
| Office expenses | $34,960 |
| Information technology | $31,249 |
| Royalties | $0 |
| Occupancy | $61,681 |
| Travel | $203 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,022 |
| Interest | $0 |
| Payments to affiliates | $9,201 |
| Depreciation, depletion, and amortization | $5,898 |
| Insurance | $12,555 |
| All other expenses | $1,795 |
| Total functional expenses | $537,387 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $470,618 |
| Savings and temporary cash investments | $6,877,492 |
| 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 | $7,620,004 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $77,137 |
| Net Land, buildings, and equipment | $7,276 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,135,964 |
| Total assets | $20,188,491 |
| Accounts payable and accrued expenses | $15,179 |
| 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 | $17,604,067 |
| Total liabilities | $17,619,246 |
| 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 | $2,569,245 |
| Total liabilities and net assets/fund balances | $20,188,491 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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Commonwealth Credit Union Frankfort, KY | $1,891,090,350 | $88,350,902 |
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Scott Credit Union Edwardsville, IL | $1,647,347,103 | $74,654,217 |
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Park Community Credit Union Inc Louisville, KY | $1,121,794,262 | $53,014,034 |
Beacon Credit Union Wabash, IN | $1,514,735,601 | $47,143,377 |
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Indiana University Credit Union Bloomington, IN | $1,349,340,515 | $48,794,263 |