Staley Credit Union
- Assets
- $204.8m
- Revenue
- $11.9m
- Investments
- $1.9m
- Employees
- 66
- Location
- Decatur, IL
- Founding
- 09/1941
- Data as of
- 12/2023
- EIN
- 37-6026317
Organization Overview
Staley Credit Union is located in Decatur, IL. The organization was established in 1941. 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 12/2023, Staley Credit Union employed 66 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Staley 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 12/2023, Staley Credit Union generated $11.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $10.6m during the year ending 12/2023. While expenses have increased by 6.6% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
CREDIT UNION OPERATED FOR MUTUAL PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RECEIVED DEPOSITS IN VARIOUS ACCOUNT TYPES FOR APPROXIMATELY 17,869 MEMBERS.
PROVIDE CONSUMER AND REAL ESTATE LOANS TO APPROXIMATELY 12,639 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Danielle R Fields Director | Trustee | 0 | $0 |
Jonathan B Rincker Director | Trustee | 0 | $0 |
Dennis E Trump Director | Trustee | 0 | $0 |
Michael N Landacre Board Vice-Chairman | Trustee | 0 | $0 |
Steven D Bowman Director | Trustee | 0 | $0 |
Richard P Podeschi Director | Trustee | 0 | $0 |
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 | $8,590,807 |
| Investment income | $1,480,142 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$284,274 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,866,618 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,609,202 |
| Pension plan accruals and contributions | -$34,591 |
| Other employee benefits | $310,427 |
| Payroll taxes | $208,047 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $64,538 |
| Fees for services: Accounting | $44,240 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $334,201 |
| Office expenses | $88,778 |
| Information technology | $558,884 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $411,854 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $55,580 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $440,493 |
| Insurance | $63,464 |
| All other expenses | $1,344,890 |
| Total functional expenses | $10,588,357 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,024,149 |
| Savings and temporary cash investments | $0 |
| 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 | $146,947,746 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,848,574 |
| Net Land, buildings, and equipment | $6,187,299 |
| Investments—publicly traded securities | $33,064,124 |
| Investments—other securities | $1,948,400 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,733,695 |
| Total assets | $204,753,987 |
| Accounts payable and accrued expenses | $972,189 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $268,253 |
| 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 | $189,137,833 |
| Total liabilities | $190,378,275 |
| 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 | $14,375,712 |
| Total liabilities and net assets/fund balances | $204,753,987 |