Streator Onized Credit Union
- Assets
- $335.4m
- Revenue
- $23.4m
- Investments
- $5.2m
- Employees
- 149
- Location
- Streator, IL
- Founding
- 07/2001
- Data as of
- 12/2022
- 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 12/2022, Streator Onized Credit Union employed 149 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 12/2022, Streator Onized Credit Union generated $23.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $17.0m during the year ending 12/2022. While expenses have increased by 9.4% 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
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 8767 MEMBERS.
PROVIDED 69 REAL ESTATE LOANS TO MEMBERS.
RECEIVED DEPOSITS ON SAVINGS FOR 3504 NEW ACCOUNTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas Patterson CEO | Officer | 40 | $181,802 |
Angela Kusnerick COO | 40 | $129,390 | |
Mandi Gillman Clo | 40 | $135,136 | |
Andrew Threagill Cio | 40 | $112,559 | |
Cheryl Davis CFO | 40 | $129,572 | |
Michael Ralph Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Vissering Construction Company Construction | 12/30/22 | $600,132 |
Pos Remarketing Group Security | 12/30/22 | $283,399 |
Corelation Inc Core Services | 12/30/22 | $216,554 |
Widmer Interiors Construction/remodel Design | 12/30/22 | $164,854 |
Bankjoy Online Banking | 12/30/22 | $158,135 |
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 | $22,915,036 |
| Investment income | $490,381 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,679 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,425,097 |
| 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. | $808,941 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,053,136 |
| Pension plan accruals and contributions | $261,554 |
| Other employee benefits | $882,001 |
| Payroll taxes | $445,238 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,400 |
| Fees for services: Accounting | $57,023 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,529 |
| Fees for services: Other | $68,095 |
| Advertising and promotion | $380,729 |
| Office expenses | $717,693 |
| Information technology | $988,575 |
| Royalties | $0 |
| Occupancy | $319,123 |
| Travel | $13,913 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $128,643 |
| Interest | $0 |
| Payments to affiliates | $29,586 |
| Depreciation, depletion, and amortization | $929,114 |
| Insurance | $88,092 |
| All other expenses | $550,904 |
| Total functional expenses | $17,003,612 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,677,093 |
| Savings and temporary cash investments | $36,761,930 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,524,872 |
| Loans from Officers, Directors, or Controlling Persons | $632,637 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $267,021,969 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,730,877 |
| Net Land, buildings, and equipment | $7,936,228 |
| Investments—publicly traded securities | $6,293,368 |
| Investments—other securities | $5,167,678 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,691,695 |
| Total assets | $335,438,347 |
| Accounts payable and accrued expenses | $2,684,787 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $393 |
| 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 | $281,952,932 |
| Total liabilities | $284,638,112 |
| 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 | $50,800,235 |
| Total liabilities and net assets/fund balances | $335,438,347 |