Effingham Highway Credit Union
- Assets
- $6.2m
- Revenue
- $213.5k
- Investments
- $0.0
- Employees
- 2
- Location
- Effingham, IL
- Founding
- 03/1957
- Data as of
- 12/2021
- EIN
- 37-6037911
Organization Overview
Effingham Highway Credit Union is located in Effingham, IL. The organization was established in 1957. 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, Effingham Highway Credit Union employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Effingham Highway 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, Effingham Highway Credit Union generated $213.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $146.0k during the year ending 12/2021. 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 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 CONSUMER LENDING AND RECEIVED DEPOSITS FROM THE CREDIT UNION MEMBERSHIP. THE CREDIT UNION SERVICES APPROXIMATELY 1,200 MEMBER SHARE TYPE ACCOUNTS AND APPROXIMATELY 400 LOAN ACCOUNTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronni Turner President/manager | Officer | 37.5 | $44,490 |
Corey Dasenbrock Director | Trustee | 1 | $0 |
Cindy Smith Secretary/treasurer | Trustee | 5 | $0 |
Delbert Crouse Vice-Chairman | Trustee | 1 | $0 |
Tim Hemmen Director | Trustee | 1 | $0 |
Steve Hemrich Director | Trustee | 1 | $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 | $203,931 |
| Investment income | $5,620 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $213,514 |
| 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. | $45,825 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,892 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,610 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,530 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,616 |
| Office expenses | $2,043 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $326 |
| Travel | $1,029 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $146,018 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,054,148 |
| 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 | $3,915,942 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,188,000 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $78,623 |
| Total assets | $6,236,713 |
| Accounts payable and accrued expenses | $5,500 |
| 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 | $0 |
| Other liabilities | $5,578,540 |
| Total liabilities | $5,584,040 |
| 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 | $652,673 |
| Total liabilities and net assets/fund balances | $6,236,713 |
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