Streator Onized Credit Union
- Assets
- $322.9m
- Revenue
- $20.5m
- Investments
- $13.3m
- Employees
- 145
- Location
- Streator, IL
- Founding
- 07/2001
- Data as of
- 12/2021
- EIN
- 36-2494471
Organization Overview
Streator Onized Credit Union is located in Streator, IL. The organization was established in 2001. 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, Streator Onized Credit Union employed 145 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Streator Onized 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, Streator Onized Credit Union generated $20.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.0% each year . All expenses for the organization totaled $14.7m during the year ending 12/2021. While expenses have increased by 8.1% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
CREDIT UNION WILL PROVIDE QUALITY FINANCIAL SERVICES THAT WILL ENHANCE THE ECONOMIC AND SOCIAL WELL-BEING OF THE MEMBERS AND COMMUNITIES THAT IT SERVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED CONSUMER LOANS TO 7764 MEMBERS.
PROVIDED 117 REAL ESTATE LOANS TO MEMBERS.
RECEIVED DEPOSITS ON SAVINGS FOR 3594 NEW ACCOUNTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathleen Lucas Former CEO | 0 | $277,926 | |
Douglas Patterson CEO | Officer | 40 | $159,507 |
Mandi Albert VP Of Lending | 40 | $126,477 | |
Angela Kusnerick VP Compliance/member Relations | 40 | $122,090 | |
Cheryl Davis CFO | 40 | $121,132 | |
Andrew Threagill Cio | 40 | $104,981 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Transunion Credit Reports | 12/30/21 | $118,177 |
Diebold Security Services | 12/30/21 | $124,756 |
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 | $20,172,712 |
| Investment income | $249,880 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $28,275 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,466,912 |
| 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. | $957,947 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,199,620 |
| Pension plan accruals and contributions | $267,748 |
| Other employee benefits | $803,627 |
| Payroll taxes | $365,308 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,400 |
| Fees for services: Accounting | $43,425 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,300 |
| Fees for services: Other | $99,537 |
| Advertising and promotion | $403,005 |
| Office expenses | $583,710 |
| Information technology | $749,939 |
| Royalties | $0 |
| Occupancy | $272,726 |
| Travel | $31,111 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,563 |
| Interest | $5 |
| Payments to affiliates | $28,268 |
| Depreciation, depletion, and amortization | $810,392 |
| Insurance | $77,592 |
| All other expenses | $741,743 |
| Total functional expenses | $14,661,430 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,023,342 |
| Savings and temporary cash investments | $53,424,743 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,325,367 |
| Loans from Officers, Directors, or Controlling Persons | $598,212 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $231,761,085 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,622,360 |
| Net Land, buildings, and equipment | $7,417,037 |
| Investments—publicly traded securities | $6,250,329 |
| Investments—other securities | $13,317,589 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,128,850 |
| Total assets | $322,868,914 |
| Accounts payable and accrued expenses | $2,459,353 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $147 |
| 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 | $275,596,908 |
| Total liabilities | $278,056,408 |
| 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 | $44,812,506 |
| Total liabilities and net assets/fund balances | $322,868,914 |
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|---|---|---|
Beacon Credit Union Wabash, IN | $1,514,735,601 | $47,143,377 |
Vibrant Credit Union Moline, IL | $1,061,532,656 | $50,336,419 |
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Andigo Credit Union Schaumburg, IL | $850,101,906 | $43,497,190 |
1st Midamerica Credit Union Bethalto, IL | $860,013,719 | $45,661,014 |
Great Lakes Credit Union Bannockburn, IL | $1,045,676,236 | $50,981,092 |
Financial Center First Credit Union Indianapolis, IN | $817,315,000 | $38,154,429 |
Hoosier Hills Credit Union Bedford, IN | $808,986,869 | $33,438,671 |
Dutrac Community Credit Union Dubuque, IA | $980,523,751 | $36,287,980 |
Numark Credit Union Joliet, IL | $604,429,082 | $32,569,723 |
Dupage Credit Union Naperville, IL | $557,263,458 | $27,754,068 |
Abbott Laboratories Employer Credit Union Gurnee, IL | $1,021,053,305 | $27,617,158 |