Siu Credit Union
- Assets
- $404.4m
- Revenue
- $19.5m
- Investments
- $24.2m
- Employees
- 125
- Location
- Carbondale, IL
- Founding
- 02/1942
- Data as of
- 12/2020
- EIN
- 37-0722141
Organization Overview
Siu Credit Union is located in Carbondale, IL. The organization was established in 1942. 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 12/2020, Siu Credit Union employed 125 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Siu 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 12/2020, Siu Credit Union generated $19.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $15.8m during the year ending 12/2020. While expenses have increased by 3.2% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HIGH QUALITY FINANCIAL SERVICES FOR OUR MEMBERS/OWNERS, ENHANCING THEIR FINANCIAL WELL-BEING WHILE MAINTAINING THE FINANCIAL STRENGTH OF THE CREDIT UNION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 41,874 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2020, THERE WERE 77,686 LOANS OUTSTANDING TOTALING $274,289,919.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $1,324,397 FOR THE YEAR.
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 41,874 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2020, THERE WERE 77,686 LOANS OUTSTANDING TOTALING $274,289,919.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $1,324,397 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Lantrip President/ceo | Officer | 40 | $147,897 |
Brian Maurizio VP Information Technology | Officer | 40 | $95,302 |
Tracy Frischkorn-Ingersoll VP Human Resources | Officer | 40 | $90,013 |
Stacy Callahan VP Lending | Officer | 40 | $88,990 |
Sandy Taylor VP Finance/cfo | Officer | 40 | $83,424 |
Erica Pankey VP Operations | Officer | 40 | $76,115 |
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 | $18,658,165 |
| Investment income | $804,031 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $78,690 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$31,885 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,509,001 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $30,900 |
| Grants and other assistance to domestic individuals. | $5,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $953,198 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,750,160 |
| Pension plan accruals and contributions | $285,303 |
| Other employee benefits | $855,273 |
| Payroll taxes | $352,134 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $91 |
| Fees for services: Accounting | $146,986 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $100,756 |
| Fees for services: Other | $2,098,551 |
| Advertising and promotion | $493,817 |
| Office expenses | $763,689 |
| Information technology | $1,378,342 |
| Royalties | $0 |
| Occupancy | $434,798 |
| Travel | $13,628 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $103,448 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $771,606 |
| Insurance | $116,341 |
| All other expenses | $5,931 |
| Total functional expenses | $15,829,148 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,211,824 |
| Savings and temporary cash investments | $77,749,676 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $270,957,214 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $841,653 |
| Net Land, buildings, and equipment | $6,342,633 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $24,186,642 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,150,093 |
| Total assets | $404,439,735 |
| Accounts payable and accrued expenses | $7,299,773 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $441,713 |
| 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 | $356,786,078 |
| Total liabilities | $364,527,564 |
| 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 | $39,912,171 |
| Total liabilities and net assets/fund balances | $404,439,735 |
Grants Awarded
Over the last fiscal year, Siu Credit Union has awarded $61,800 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
SOUTHERN ILLINOIS UNIVERSITY PURPOSE: CONTRIBUTIONS AND SPONSORSHIPS SUPPORTING EDUCATION, RESEARCH AND SERVICE PROGRAMS | $23,400 |
SOUTHERN ILLINOIS UNIVERSITY PURPOSE: CONTRIBUTIONS AND SPONSORSHIPS SUPPORTING EDUCATION, RESEARCH AND SERVICE PROGRAMS | $23,400 |
Carterville, IL PURPOSE: CONTRIBUTIONS SUPPORTING PROGRAMS FOR CHILD ABUSE, NEGLECT OR ABANDONMENT | $7,500 |
Carterville, IL PURPOSE: CONTRIBUTIONS SUPPORTING PROGRAMS FOR CHILD ABUSE, NEGLECT OR ABANDONMENT | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Beacon Credit Union Wabash, IN | $1,514,735,601 | $47,143,377 |
Vibrant Credit Union Moline, IL | $1,061,532,656 | $50,336,419 |
Indiana University Credit Union Bloomington, IN | $1,349,340,515 | $48,794,263 |
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 |