Empeople Credit Union
- Assets
- $2.0b
- Revenue
- $98.7m
- Investments
- $13.8m
- Employees
- 293
- Location
- Moline, IL
- Founding
- 10/1935
- Data as of
- 12/2022
- EIN
- 36-2472059
Organization Overview
Empeople Credit Union is located in Moline, IL. The organization was established in 1935. 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, Empeople Credit Union employed 293 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Empeople 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, Empeople Credit Union generated $98.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.9% each year . All expenses for the organization totaled $87.7m during the year ending 12/2022. While expenses have increased by 15.3% per year over the past 8 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
CREDIT UNION OPERATED FOR MUTUAL PURPOSE
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED 25,204 CONSUMER LOANS TO MEMBERS.
PROVIDED 3,742 FIRST AND SECOND MORTGAGE LOANS TO MEMBERS
OPENED 10,091 NEW MEMBER SHARE ACCOUNTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Hayes Former Employee | 0 | $1,273,905 | |
Kurt Lewin President | Officer | 40 | $740,370 |
Benjamin Nickel Vp, Branch Operations | 40 | $400,708 | |
Ron Wilse Chief Lending Officer | Officer | 40 | $347,955 |
Peter Sedgwick Chief Information Officer | Officer | 40 | $346,886 |
Chris Kobliska Vp, Branch Operations | 40 | $326,573 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Print Plant Llc Marketing | 12/30/22 | $486,713 |
Sentinel Technologies Inc It Managed Service | 12/30/22 | $291,038 |
Risdall Marketing Group Llc Marketing | 12/30/22 | $276,689 |
Garda Cl Great Lakes Inc Atm Servicing | 12/30/22 | $263,666 |
Great Falls Construction Construction | 12/30/22 | $239,899 |
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 | $59,247,663 |
| Investment income | $2,999,575 |
| 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 | $98,666,106 |
| 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. | $4,485,126 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $22,775,699 |
| Pension plan accruals and contributions | $1,474,054 |
| Other employee benefits | $2,388,693 |
| Payroll taxes | $1,815,407 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $241,873 |
| Fees for services: Accounting | $389,224 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,626,720 |
| Advertising and promotion | $1,547,359 |
| Office expenses | $2,208,854 |
| Information technology | $5,149,106 |
| Royalties | $0 |
| Occupancy | $1,646,383 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $793,575 |
| Interest | $2,194,518 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,112,695 |
| Insurance | $245,501 |
| All other expenses | $777,997 |
| Total functional expenses | $87,664,688 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,451,406 |
| Savings and temporary cash investments | $99,739,894 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,031,642 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,750,906,405 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,482,606 |
| Net Land, buildings, and equipment | $18,662,079 |
| Investments—publicly traded securities | $12,979,433 |
| Investments—other securities | $13,816,385 |
| Investments—program-related | $0 |
| Intangible assets | $239,391 |
| Other assets | $47,848,265 |
| Total assets | $1,985,157,506 |
| Accounts payable and accrued expenses | $115,438,706 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $8,153,668 |
| 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 | $1,705,932,897 |
| Total liabilities | $1,829,525,271 |
| 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 | $155,632,235 |
| Total liabilities and net assets/fund balances | $1,985,157,506 |