Northwestern Mutual Credit Union
- Assets
- $240.3m
- Revenue
- $6.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Milwaukee, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-0509565
Organization Overview
Northwestern Mutual Credit Union is located in Milwaukee, WI. Northwestern Mutual 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, Northwestern Mutual Credit Union generated $6.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $3.3m during the year ending 12/2021. While expenses have increased by 4.5% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE COMPETITIVE AND CONVENIENT FINANCIAL PRODUCTS ALONG WITH OUTSTANDING SERVICE TO THE NORTHWESTERN MUTUAL COMMUNITY. TO STRIVE TO OFFER A PRODUCT MIX THAT ALLOWS MEMBERS TO VIEW THE CREDIT UNION AS THEIR PRIMARY FINANCIAL INSTITUTION AND A VALUED EMPLOYEE BENEFIT
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTINUED TO PROVIDE ATTRACTIVE REATES AND LOW FEES ALONG WITH A HIGH LEVEL OF PERSONALIZED SERVICE. CONTINUED TO IMPROVE EASE OF ACCESS, EFFICIENCY, AND CONVENIENCE FOR OUR MEMBERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffery Koeberl Treasurer | OfficerTrustee | 1 | $0 |
Jonathan Sternberg Secretary | OfficerTrustee | 1 | $0 |
Ryan Fleming Assistant Secretary | OfficerTrustee | 1 | $0 |
Timothy Sternberg Chair | OfficerTrustee | 1 | $0 |
Aaron Schroeder Vice Chair | OfficerTrustee | 1 | $0 |
Joseph Bukowski President | Officer | 45 | $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 | $4,778,002 |
| Investment income | $1,160,422 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $41,806 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,980,230 |
| 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. | $225,652 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $765,039 |
| Pension plan accruals and contributions | $19,551 |
| Other employee benefits | $201,739 |
| Payroll taxes | $75,380 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $33,658 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $54,107 |
| Advertising and promotion | $24,099 |
| Office expenses | $82,092 |
| Information technology | $378,855 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,688 |
| Interest | $95,681 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $39,813 |
| Insurance | $27,011 |
| All other expenses | -$4,822 |
| Total functional expenses | $3,302,203 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $876,143 |
| Savings and temporary cash investments | $46,118,523 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $787,338 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $106,147,263 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $112,436 |
| Net Land, buildings, and equipment | $111,406 |
| Investments—publicly traded securities | $81,075,601 |
| Investments—other securities | $0 |
| Investments—program-related | $2,124,685 |
| Intangible assets | $0 |
| Other assets | $2,932,106 |
| Total assets | $240,285,501 |
| Accounts payable and accrued expenses | $3,671,337 |
| 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 | $12,160,456 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $198,261,643 |
| Total liabilities | $214,093,436 |
| 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 | $1,221,986 |
| Retained earnings, endowment, accumulated income, or other funds | $24,970,079 |
| Total liabilities and net assets/fund balances | $240,285,501 |
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