Bloomington Municipal Employees Credit Union

Organization Overview

Bloomington Municipal Employees Credit Union is located in Bloomington, IL. The organization was established in 1953. 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, Bloomington Municipal Employees Credit Union employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bloomington Municipal Employees 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, Bloomington Municipal Employees Credit Union generated $847.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $790.4k during the year ending 12/2021. While expenses have increased by 3.4% 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

BLOOMINGTON MUNICIPAL CREDIT UNION PROMOTES THRIFT, ECONOMICAL SERVICES AND FRIENDLY, COURTEOUS SERVICE. IT STRIVES TO PROVIDE LOW INTEREST LOANS AND RETURN ALL POSSIBLE PROFITS TO MEMBERS IN THE FORM OF DIVIDENDS. THIS CREDIT UNION EXISTS SOLELY TO SERVE ITS MEMBERS.

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 IN EXCESS OF 4200 MEMBER SHARE ACCOUNTS AND 1000 LOAN ACCOUNTS, INCLUDING VISA CARDS.


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Board, Officers & Key Employees

Name (title)Compensation
Todd Keil
CEO
$94,373
Brian Mohr
Director
$0
Brent Wick
Director
$0
Anne Dickerson
Secretary
$0
Russel Waller
Vice Chairperson
$0
Larry Carius
Director
$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$704,809
Investment income $142,568
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 $847,377

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Bloomington Municipal Employees Credit Union has recieved totaling $7,500.

Awarding OrganizationAmount
Illinois Credit Union Foundation

Naperville, IL

PURPOSE: Scholarships Small CU Development Emergency Relief

$7,500
View Grant Recipient Profile

Peer Organizations

Organization NameAssets
Ih Mississippi Valley Credit Union
Moline, IL
$105,810,576
Commonwealth Credit Union
Frankfort, KY
$88,350,902
Department Of Financial Institution Division Of Credit Unions In Ind
Columbus, IN
$88,438,069
Forum Credit Union
Indianapolis, IN
$93,129,055
Scott Credit Union
Edwardsville, IL
$74,654,217
Deere Employees Credit Union
Moline, IL
$82,112,773
Credit Union 1
Rantoul, IL
$72,991,911
Interra Credit Union
Goshen, IN
$68,430,398
Park Community Credit Union Inc
Louisville, KY
$53,014,034
Beacon Credit Union
Wabash, IN
$47,143,377
Vibrant Credit Union
Moline, IL
$50,336,419
Indiana University Credit Union
Bloomington, IN
$48,794,263

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