Community Trust Credit Union
- Assets
- $307.4m
- Revenue
- $14.5m
- Investments
- $38.1m
- Employees
- 72
- Location
- Gurnee, IL
- Founding
- 09/1960
- Data as of
- 12/2023
- EIN
- 36-1932435
Organization Overview
Community Trust Credit Union is located in Gurnee, IL. The organization was established in 1960. 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 12/2023, Community Trust Credit Union employed 72 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Trust 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 12/2023, Community Trust Credit Union generated $14.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $9.8m during the year ending 12/2023. While expenses have increased by 4.6% per year over the past 9 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
2023
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 ACCOUNTS, AND OTHER FINANCIAL INSTITUTION SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED CONSUMER LOANS TO 7,122 MEMBERS.
PROVIDED HOME BANKING SERVICES TO 10,908 MEMBERS.
RECEIVED DEPOSITS ON SAVINGS FROM 13,752 MEMBERS
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Kloczkowski Chairman | Trustee | 1 | $0 |
Henry Hank Govekar Vice Chairman | Trustee | 1 | $0 |
Jessica Hiett Treasurer | Trustee | 1 | $0 |
Andy Dallstream Secretary | Trustee | 1 | $0 |
Corey Clark Director | Trustee | 1 | $0 |
Fred Friedl 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 | $8,361,292 |
| Investment income | $6,155,513 |
| 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 | $14,516,805 |
| 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. | $714,841 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,958,646 |
| Pension plan accruals and contributions | $115,905 |
| Other employee benefits | $410,241 |
| Payroll taxes | $249,915 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,075 |
| Fees for services: Accounting | $52,384 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $126,926 |
| Office expenses | $1,342,575 |
| Information technology | $891,540 |
| Royalties | $0 |
| Occupancy | $413,079 |
| Travel | $6,170 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,632 |
| Interest | $2 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $379,194 |
| Insurance | $84,368 |
| All other expenses | $0 |
| Total functional expenses | $9,776,364 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,624,614 |
| Savings and temporary cash investments | $80,794,439 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,499 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $128,463,948 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $713,778 |
| Net Land, buildings, and equipment | $3,928,781 |
| Investments—publicly traded securities | $47,997,021 |
| Investments—other securities | $38,095,000 |
| Investments—program-related | $902,927 |
| Intangible assets | $0 |
| Other assets | $2,905,825 |
| Total assets | $307,429,832 |
| Accounts payable and accrued expenses | $2,286,075 |
| 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 | $273,245,993 |
| Total liabilities | $275,532,068 |
| 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 | $31,897,764 |
| Total liabilities and net assets/fund balances | $307,429,832 |