Co-Op Credit Union
- Assets
- $497.7m
- Revenue
- $18.6m
- Investments
- $0.0
- Employees
- 112
- Location
- Black River Falls, WI
- Founding
- Data as of
- 12/2022
- EIN
- 39-0745853
Organization Overview
Co-Op Credit Union, operating under the name Co-op Credit Union, is located in Black River Falls, WI. As of 12/2022, Co-op Credit Union employed 112 individuals. Co-op 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 12/2022, Co-op Credit Union generated $18.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $14.6m during the year ending 12/2022. While expenses have increased by 4.2% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SERVING OUR MEMBERS, WHERE THEY ARE, THROUGH ALL STAGES OF LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CCU HAD DEPOSIT, TRANSACTION, AND INVESTMENT ACCOUNTS WITH 21,564 OF OUR MEMBERS AT 12/31. DURING 2022, CCU OPENED 5,478 NEW DEPOSIT, TRANSACTION AND INVESTMENT ACCOUNTS.
CCU FUNDED 4,138 LOANS DURING 2022. AS OF 12/31/22, CCU SERVICED 3,439 MORTGAGES/HOME EQUITY LOANS, 7,623 CONSUMER LOANS, 718 MEMBER BUSINESS LOANS, AND 2,741 CREDIT CARD ACCOUNTS WITH OUR MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Overlien Secretary | OfficerTrustee | 1 | $8,395 |
Sarah Lebakken Vice Chair | OfficerTrustee | 1 | $8,450 |
David Olson Director | Trustee | 1 | $7,771 |
Timothy Byom Director | Trustee | 1 | $7,482 |
Timothy Torkelson Chair | OfficerTrustee | 1 | $7,495 |
Steven Hogden Treasurer | OfficerTrustee | 1 | $6,390 |
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 | $16,841,025 |
| Investment income | $1,650,439 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $46,521 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $88,746 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,627,722 |
| 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. | $1,650,283 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,134,419 |
| Pension plan accruals and contributions | $157,387 |
| Other employee benefits | $1,134,977 |
| Payroll taxes | $318,507 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $79,000 |
| Fees for services: Accounting | $27,288 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $154,545 |
| Advertising and promotion | $411,338 |
| Office expenses | $750,287 |
| Information technology | $767,540 |
| Royalties | $0 |
| Occupancy | $386,344 |
| Travel | $37,963 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $128,518 |
| Interest | $118,628 |
| Payments to affiliates | $56,335 |
| Depreciation, depletion, and amortization | $500,975 |
| Insurance | $88,539 |
| All other expenses | $0 |
| Total functional expenses | $14,589,227 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,973,582 |
| Savings and temporary cash investments | $37,966,810 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $884,953 |
| Loans from Officers, Directors, or Controlling Persons | $2,137,331 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $397,295,280 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $405,987 |
| Net Land, buildings, and equipment | $8,648,311 |
| Investments—publicly traded securities | $15,748,148 |
| Investments—other securities | $0 |
| Investments—program-related | $9,936,101 |
| Intangible assets | $0 |
| Other assets | $20,738,727 |
| Total assets | $497,735,230 |
| Accounts payable and accrued expenses | $3,245,289 |
| Grants payable | $0 |
| Deferred revenue | $113,097 |
| 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 | $440,797,241 |
| Total liabilities | $444,155,627 |
| 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 | $53,579,603 |
| Total liabilities and net assets/fund balances | $497,735,230 |