Service Credit Union
- Assets
- $13.7m
- Revenue
- $487.2k
- Investments
- $0.0
- Employees
- 3
- Location
- Green Bay, WI
- Founding
- Data as of
- 12/2023
- EIN
- 39-0607767
Organization Overview
Service Credit Union is located in Green Bay, WI. As of 12/2023, Service Credit Union employed 3 individuals. Service 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, Service Credit Union generated $487.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $482.3k during the year ending 12/2023. While expenses have increased by 6.0% per year over the past 8 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
PROVIDE MEMBERS WITH COMPETITIVE, HIGH QUALITY FINANCIAL SERVICES IN A PROFESSIONAL AND FRIENDLY MANNER WHILE MAINTAINING A POSITION OF SAFETY, SOUNDNESS AND STRENGTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 60 NEW DEPOSIT ACCOUNTS IN 2023. AS OF 12/31/23 WE HAD 1,024 MEMBERS.
THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 176 NEW LOANS TO OUR MEMBERS DURING 2023. AS OF 12/31/23 WE HAD 482 LOANS TO OUR MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicole Fawcett President | Officer | 40 | $92,908 |
Ted Prosser Secretary | OfficerTrustee | 0.25 | $360 |
Kristy Kaye Chair | OfficerTrustee | 0.25 | $0 |
Sarah Mead Vice Chair | OfficerTrustee | 0.25 | $0 |
Bradley Coenen Treasurer | OfficerTrustee | 0.25 | $0 |
Marcia Thompson Director | Trustee | 0.25 | $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 | $399,858 |
| Investment income | $87,375 |
| 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 | $487,233 |
| 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. | $93,268 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $60,379 |
| Pension plan accruals and contributions | $7,637 |
| Other employee benefits | $3,059 |
| Payroll taxes | $12,067 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $981 |
| Fees for services: Accounting | $4,197 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $344 |
| Office expenses | $133,907 |
| Information technology | $49,048 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $396 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $415 |
| Interest | $298 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,776 |
| Insurance | $5,451 |
| All other expenses | $0 |
| Total functional expenses | $482,317 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,782 |
| Savings and temporary cash investments | $2,721,307 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,211 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $10,240,702 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,057 |
| Net Land, buildings, and equipment | $51,965 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $513,563 |
| Intangible assets | $0 |
| Other assets | $138,318 |
| Total assets | $13,704,905 |
| Accounts payable and accrued expenses | $85,468 |
| 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 | $10,877,879 |
| Total liabilities | $10,963,347 |
| 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 | $2,741,558 |
| Total liabilities and net assets/fund balances | $13,704,905 |