Earthmover Credit Union
- Assets
- $387.6m
- Revenue
- $17.0m
- Investments
- $0.0
- Employees
- 123
- Location
- Aurora, IL
- Founding
- 10/1958
- Data as of
- 12/2021
- EIN
- 36-6062499
Organization Overview
Earthmover Credit Union is located in Aurora, IL. The organization was established in 1958. 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, Earthmover Credit Union employed 123 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Earthmover 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, Earthmover Credit Union generated $17.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $12.8m during the year ending 12/2021. While expenses have increased by 4.0% 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
TO ASSIST OUR MEMBERS IN THE MANAGEMENT OF THEIR FINANCIAL WELL-BEING BY PROVIDING LOANS, SAVINGS ACCOUNTS, AND OTHER FINANCIAL INSTITUTION SERVICES IN A FRIENDLY AND PROFESSIONAL MANNER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED CREDIT UNION SERVICES TO 27,019 MEMBERS INCLUDING 2,084 NEW MEMBER ACCOUNTS.
ISSUED 4,086 NEW LOANS AND LOAN ADVANCES, TOTALING $68,226,993.
PROVIDED 16,193 CHECKING SERVICES TO MEMBERS, INCLUDING DEBIT CARD SERVICES TO 13,591 MEMBERS.
OTHER PROGRAM SERVICES: PROVIDED $8,750,637 IN NEW HOME EQUITY SERVICES TO MEMBERS; 919 HOME EQUITY LINE OF CREDIT ADVANCES AND 127 HOME EQUITY CLOSED END LOANS. PROVIDED NEW MORTGAGE SERVICES TO 262 MEMBERS, TOTALING $67,245,558. PROVIDED VISA CREDIT CARDS TO 12,778 MEMBERS; ISSUED 526 NEW VISA CREDIT CARDS. FINANCED 1,739 VEHICLES AND 1,183 CONSUMER LOANS, INCLUDING 63 INDIRECT LOANS. PROVIDED 2,247,829 ATM TRANSACTIONS. PROVIDED AUDIO RESPONSE TO 4,321 MEMBERS, ONLINE BANKING/BILL PAYMENT INTERNET ACCESS TO 17,199 MEMBERS, E-STATEMENT ACCESS TO 10,100 MEMBERS, MOBILE BANKING ACCESS TO 12,187 MEMBERS. PROVIDED IRA ACCOUNTS TO 657 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly Mcdonough Ceo/president | Officer | 45 | $278,202 |
Noreen Wilkerson VP Finance | Officer | 45 | $210,565 |
Robert T Westmoreland Vice-President | Officer | 45 | $170,053 |
Amy Hart Vice-President | Officer | 45 | $167,544 |
Janel Cabadas Vice-President | Officer | 45 | $149,078 |
Matthew Meyer Vice-President | Officer | 45 | $120,994 |
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 | $15,170,197 |
| Investment income | $1,877,560 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,732 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,049,489 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,633,929 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,161,117 |
| Pension plan accruals and contributions | $259,820 |
| Other employee benefits | $1,351,588 |
| Payroll taxes | $334,054 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $56,214 |
| Fees for services: Accounting | $147,331 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $72,504 |
| Fees for services: Other | $84,479 |
| Advertising and promotion | $412,007 |
| Office expenses | $454,016 |
| Information technology | $1,082,895 |
| Royalties | $0 |
| Occupancy | $375,838 |
| Travel | $2,119 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $83,390 |
| Interest | $0 |
| Payments to affiliates | $36,218 |
| Depreciation, depletion, and amortization | $544,563 |
| Insurance | $0 |
| All other expenses | $140,717 |
| Total functional expenses | $12,794,529 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,522,047 |
| Savings and temporary cash investments | $43,897,132 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $580,207 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $191,676,961 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,755,252 |
| Net Land, buildings, and equipment | $9,126,148 |
| Investments—publicly traded securities | $134,430,526 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,616,599 |
| Total assets | $387,604,872 |
| Accounts payable and accrued expenses | $2,358,267 |
| 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 | $5,000,000 |
| Other liabilities | $318,746,719 |
| Total liabilities | $326,104,986 |
| 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 | $61,499,886 |
| Total liabilities and net assets/fund balances | $387,604,872 |
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