Aurora Credit Union
- Assets
- $0.0
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 12
- Location
- Milwaukee, WI
- Founding
- Data as of
- 12/2018
- EIN
- 39-0930190
Organization Overview
Aurora Credit Union is located in Milwaukee, WI. As of 12/2018, Aurora Credit Union employed 12 individuals. Aurora 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 12/2018, Aurora Credit Union generated $2.9m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $2.6m during the year ending 12/2018. While expenses have increased by 9.6% per year over the past 4 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
2018
Describe the Organization's Mission:
Part 3 - Line 1
STATE CHARTERED CREDIT UNION - PLEASE SEE SCHEDULE O STATEMENT 8 FOR DETAILED MISSION STATEMENT/EXEMPT PURPOSE
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE PROVIDE LOW-COST, HIGH VALUE FINANCIAL PRODUCTS TO MEMBERS INCLUDING REGULAR CHECKING WITH NO MINIMUM BALANCE, NO MONTHLY SERVICE CHARGE AND UNLIMITED CHECKING WRITING PRIVILEGES. AURORA CREDIT UNION ALSO OFFERS TIERED BALANCE CHECKING WITH COMPETITIVE DIVIDEND RATES. THE CREDIT UNION OFFERS LOW-COST ATM ACCESS WITH FREE ATM DEPOSITS AND FREE SIGNATURE VISA CHECKCARD TRANSACTIONS. ATM AND DEBIT PINNED POS TRANSACTIONS ARE ONLY $.25 EACH. A PRINCIPAL OBJECTIVE IS INCREASING THE FINANCIAL AND EDUCATIONAL RESOURCES AVAILABLE TO MEMBERS TO ENABLE THEM TO MAKE INFORMED FINANCIAL DECISIONS. WE REACH OUT TO THE MEMBERSHIP THROUGH MULTIPLE DELIVERY CHANNELS: PERSONAL ONE-TO-ONE CONSULTATION, ELECTRONIC SERVICES INCLUDING INTERACTIVE WEB-BASED THIRD PARTY PRODUCTS FOR PURCHASING AUTOS AND HOMES, TEACHING CHILDREN ABOUT MONEY AND RETIREMENT PLANNING. ALL MEMBERS RECEIVE FREE IDENTITY THEFT RECOVERY SERVICES AT NO CHARGE.
WE FUNDED 397 LOANS DURING 2018. AS OF 12/31/18, WE HAD 476 MORTGAGES/HOME EQUITY, 487 CONSUMER LOANS, AND 636 CREDIT CARD ACCOUNTS WITH OUR MEMBERS. AURORA CREDIT UNION GRANTED 397 LOANS TOTALING $11,240,691 IN 2018. THIS INCLUDED 107 MORTGAGES TOTALING $8,444,585. STAFF INDIVIDUALLY REVIEWS AND UNDERWRITES EACH LOAN ACCORDING TO AURORA CREDIT UNIONS BOARD-APPROVED POLICIES. WE HOLD AND SERVICE ALL OF OUR LOANS, INCLUDING OUR MORTGAGES.
WE HAVE DEPOSIT, TRANSACTION AND INVESTMENT ACCOUNTS WITH 5870 OF OUR MEMBERS AT 12/31/18. DURING 2018, WE OPENED 1271 NEW DEPOSIT, TRANSACTION AND INVESTMENT ACCOUNTS.THERE WERE 11,858 ACCOUNTS THAT EARNED $335,299 IN DIVIDENDS IN 2018.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Majewski Chairperson | OfficerTrustee | 0 | $0 |
Wendy Schafer Director | Trustee | 0 | $0 |
Ellen Sheahan Secretary | OfficerTrustee | 0 | $0 |
Dennice Bonds Director | Trustee | 0 | $0 |
Judith Mackessy Secretary 11-412 | OfficerTrustee | 0 | $0 |
Mary Jo Capodice Treasurer 11-215 | OfficerTrustee | 0 | $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 | $2,865,845 |
| Investment income | $25,454 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $12,445 |
| 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 | $2,921,454 |
| 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. | $179,858 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $508,720 |
| Pension plan accruals and contributions | $41,620 |
| Other employee benefits | $166,558 |
| Payroll taxes | $54,191 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | -$1,193 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,375 |
| Fees for services: Other | $36,408 |
| Advertising and promotion | $64,617 |
| Office expenses | $139,499 |
| Information technology | $115,235 |
| Royalties | $0 |
| Occupancy | $58,452 |
| Travel | $14,351 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,015 |
| Interest | $40,204 |
| Payments to affiliates | $18,173 |
| Depreciation, depletion, and amortization | $121,554 |
| Insurance | $31,829 |
| All other expenses | $25,170 |
| Total functional expenses | $2,566,886 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $0 |