Citizens Equity First Credit Union

Organization Overview

Citizens Equity First Credit Union is located in Peoria, 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, Citizens Equity First Credit Union employed 1,179 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Citizens Equity First 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, Citizens Equity First Credit Union generated $271.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $222.1m during the year ending 12/2021. While expenses have increased by 1.7% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDE QUALITY SERVICE AND PRODUCTS TO IMPROVE THE FINANCIAL WELL BEING OF MEMBERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

EXPANDED INTO THE METRO EAST AREA OF SOUTHERN ILLINOIS NEAR ST. LOUIS; THIS GREW THE AREA ELIGIBLE FOR CEFCU MEMBERSHIP BY 11 NEW COUNTIES AND ADDED FOUR MEMBER CENTERS WHICH ARE LOCATED IN COLUMBIA, EDWARDSVILLE, GODFREY, AND O'FALLON, ILLINOISOPENED THE RIVERMARK MEMBER CENTER IN SANTA CLARA, CALIFORNIA; THIS IS THE SIXTH BRANCH LOCATION IN THE CALIFORNIA MARKET.


CONTINUED TO PROVIDE A WIDE VARIETY OF SAVING PRODUCTS WITH LOW FEES AND COMPETITIVE RATES. ADDED OVER $571 MILLION OF SAVINGS DEPOSITS IN 2021. PAID DIVIDENDS TOTALING 19% OF REVENUES INCLUDING A $20 MILLION EXTRAORDINARY DIVIDEND DIVIDED BETWEEN BORROWERS AND SAVERS.


PROVIDED A FULL RANGE OF MORTGAGE, CONSUMER, AND BUSINESS LOANS TO MEMBERS AND MEMBER OWNED BUSINESSES. GRANTED OVER $1.5 BILLION IN CONSUMER LOANS, OVER $590 MILLION IN MORTGAGE LOANS, AND NEARLY $176 MILLION TO MEMBER OWNED BUSINESSES.


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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$252,729,903
Investment income $12,256,221
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $951,373
Net Gain/Loss on Asset Sales $1,707,105
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $271,033,514

Peer Organizations

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Baxter Credit Union
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Alliant Credit Union
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$528,339,563
Citizens Equity First Credit Union
Peoria, IL
$271,033,514
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Forum Credit Union
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$93,129,055
Scott Credit Union
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