Iron County Community Credit Union
- Assets
- $43.7m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 22
- Location
- Hurley, WI
- Founding
- Data as of
- 12/2022
- EIN
- 39-0833053
Organization Overview
Iron County Community Credit Union is located in Hurley, WI. As of 12/2022, Iron County Community Credit Union employed 22 individuals. Iron County Community 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, Iron County Community Credit Union generated $1.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $1.0m during the year ending 12/2022. While expenses have increased by 0.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE IRON COUNTY COMMUNITY CREDIT UNION IS A MEMBER-OWNED COMMUNITY BASED FINANCIAL CO-OPERATIVE, WHOSE GOAL IS TO BECOME ITS MEMBERS' PREFERRED FINANCIAL INSTITUTION, OFFERING A REASONABLE RANGE OF FINANCIAL SERVICES AT FAIR AND REASONABLE RATES.
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 298 NEW DEPOSIT ACCOUNTS IN 2022. AS OF 12/31/22 WE HAD 3,875 MEMBERS.
THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 578 NEW LOANS TO OUR MEMBERS DURING 2022. AS OF 12/31/22 WE HAD 1,892 LOANS TO OUR MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Marczak President | Officer | 40 | $79,198 |
Heather Verbos Vice Preside | Officer | 40 | $55,324 |
Susan Wolfe Chair | OfficerTrustee | 0.5 | $0 |
Nancy Lundquist Vice Chair | OfficerTrustee | 0.5 | $0 |
Christina Johnson Treasurer | OfficerTrustee | 0.5 | $0 |
Dianne Alexandroni Secretary | OfficerTrustee | 0.5 | $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 | $1,242,776 |
| Investment income | $325,009 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $4,066 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,805 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,569,046 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $134,522 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $242,460 |
| Pension plan accruals and contributions | $16,888 |
| Other employee benefits | $43,768 |
| Payroll taxes | $29,575 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $478 |
| Fees for services: Accounting | $5,577 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $75,811 |
| Advertising and promotion | $18,070 |
| Office expenses | $199,815 |
| Information technology | $66,358 |
| Royalties | $0 |
| Occupancy | $37,734 |
| Travel | $12,245 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,454 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $40,775 |
| Insurance | $11,961 |
| All other expenses | $0 |
| Total functional expenses | $1,018,090 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $614,685 |
| Savings and temporary cash investments | $19,842,871 |
| 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 | $21,772,276 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $54,092 |
| Net Land, buildings, and equipment | $324,396 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $595,964 |
| Intangible assets | $0 |
| Other assets | $511,121 |
| Total assets | $43,715,405 |
| Accounts payable and accrued expenses | $478,904 |
| 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 | $37,827,876 |
| Total liabilities | $38,306,780 |
| 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 | $5,408,625 |
| Total liabilities and net assets/fund balances | $43,715,405 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Iron County Community Credit Union has recieved totaling $8,000.
| Awarding Organization | Amount |
|---|---|
Wisconsin Credit Union Foundationinc Madison, WI PURPOSE: TO FUND TECHNOLOGY UPGRADES. | $8,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chinese American Service League Inc Chicago, IL | $15,835,299 | $20,315,146 |
Sholom Home East Inc St Paul, MN | $55,805,227 | $20,264,604 |
Dow Rummel Village Sioux Falls, SD | $76,421,386 | $18,523,416 |
Nebraska Student Loan Program Inc Lincoln, NE | $230,624,169 | $45,453,979 |
Botsford Continuing Care Corporation Southfield, MI | $28,554,348 | $16,692,642 |
American Association Of Orthopaedic Surgeons Of America Rosemont, IL | $21,165,468 | $24,653,127 |
Blackburn University Carlinville, IL | $69,417,787 | $20,572,819 |
Community Support Services Inc Akron, OH | $23,036,222 | $26,517,082 |
Montgomery Place Chicago, IL | $31,885,880 | $16,111,662 |
Region 3b Area Agency On Aging Battle Creek, MI | $12,282,051 | $21,229,876 |
Southwest Counseling Solutions Inc Detroit, MI | $10,435,524 | $23,926,279 |
Adec Inc Bristol, IN | $35,707,130 | $22,045,756 |