Superior Choice Credit Union
- Assets
- $601.1m
- Revenue
- $23.4m
- Investments
- $24.1m
- Employees
- 190
- Location
- Superior, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-0906277
Organization Overview
Superior Choice Credit Union is located in Superior, WI. As of 12/2021, Superior Choice Credit Union employed 190 individuals. Superior Choice 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, Superior Choice Credit Union generated $23.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $21.4m during the year ending 12/2021. While expenses have increased by 8.7% per year over the past 6 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
A NOT-FOR-PROFIT MEMBER-OWNED FINANCIAL INSTITUTION ORGANIZED TO PROVIDE FINANCIAL SERVICES TO OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCIAL SERVICE PROVIDER TO INCLUDE LOANS, DEPOSITS, AND TRANSACTIONAL SERVICES TO ALL MEMBERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Foster President & | Officer | 40 | $383,829 |
Shane Asbel Coo/evp | Officer | 40 | $276,046 |
Ben Altonen Cfo/evp | Officer | 40 | $260,967 |
Kelli Koehler Cmo/svp | Officer | 40 | $165,250 |
Julie Lupa VP Mortgage | Officer | 40 | $132,451 |
Mike Baker VP It | Officer | 40 | $101,787 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fiserv Inc Processing | 12/30/21 | $1,415,080 |
Security Health Insurance | 12/30/21 | $675,940 |
Pscu Debit Cards | 12/30/21 | $598,820 |
Out There Advertising Advertising | 12/30/21 | $406,900 |
Nusource Financial Maintenance | 12/30/21 | $444,643 |
View All Vendors
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 | $22,725,876 |
| Investment income | $598,995 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $76,304 |
| 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 | $23,422,033 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,750 |
| 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. | $1,563,261 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,576,519 |
| Pension plan accruals and contributions | $553,562 |
| Other employee benefits | $584,222 |
| Payroll taxes | $516,522 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $52,397 |
| Fees for services: Accounting | $47,555 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $785,369 |
| Advertising and promotion | $587,951 |
| Office expenses | $2,188,087 |
| Information technology | $336,749 |
| Royalties | $0 |
| Occupancy | $634,780 |
| Travel | $142,732 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,416 |
| Interest | $1,045,833 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,087,888 |
| Insurance | $278,012 |
| All other expenses | $468,101 |
| Total functional expenses | $21,426,090 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,191,147 |
| Savings and temporary cash investments | $106,052,636 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $520,483 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $432,054,491 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,287,784 |
| Net Land, buildings, and equipment | $10,172,026 |
| Investments—publicly traded securities | $1,271,000 |
| Investments—other securities | $24,107,599 |
| Investments—program-related | $4,414,016 |
| Intangible assets | $5,366,885 |
| Other assets | $10,705,107 |
| Total assets | $601,143,174 |
| Accounts payable and accrued expenses | $5,779,243 |
| 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 | $36,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $496,771,899 |
| Total liabilities | $538,551,142 |
| 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 | $42,080,000 |
| Retained earnings, endowment, accumulated income, or other funds | $20,512,032 |
| Total liabilities and net assets/fund balances | $601,143,174 |
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