Meadowland Credit Union
- Assets
- $31.0m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 10
- Location
- Sheboygan Falls, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-6063437
Organization Overview
Meadowland Credit Union is located in Sheboygan Falls, WI. As of 12/2021, Meadowland Credit Union employed 10 individuals. Meadowland 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, Meadowland Credit Union generated $1.1m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $954.5k during the year ending 12/2021. While expenses have increased by 4.7% per year over the past 5 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
MEADOWLAND CREDIT UNION'S MISSION IS TO PROVIDE PRIMARY FINANCIAL SERVICES TO MEET OUR MEMBERS PRESENT AND FUTURE NEEDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE FUNDED 294 LOANS DURING 2021. AS OF 12/31/21 WE HAD 195 MORTGAGE/ HOME EQUITY LINES AND 856 CONSUMER LOANS. WE ALSO HAD 93 CREDIT CARDS AS OF 12/31/21.
WE HAVE DEPOSIT, TRANSACTION, AND INVESTMENT ACCOUNTS WITH 2585 MEMBERS AS OF 12/31/21. DURING 2021, WE OPENED 155 NEW DEPOSIT, TRANSACTION, AND INVESTMENT ACCOUNTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Horner President | Officer | 40 | $90,933 |
James Evraets Director | Trustee | 1 | $0 |
Warren Stokdyk Vice-Chair | OfficerTrustee | 1 | $0 |
Dan Abts Chairman | OfficerTrustee | 1 | $0 |
Nick Herzfeldt Secretary | OfficerTrustee | 1 | $0 |
Perry Hartman Director | Trustee | 1 | $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 | $1,040,130 |
| Investment income | $13,104 |
| 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 | $1,053,234 |
| 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. | $90,333 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $207,633 |
| Pension plan accruals and contributions | $5,525 |
| Other employee benefits | $32,613 |
| Payroll taxes | $22,632 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,593 |
| Fees for services: Accounting | $46,519 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,403 |
| Advertising and promotion | $18,355 |
| Office expenses | $50,424 |
| Information technology | $141,874 |
| Royalties | $0 |
| Occupancy | $51,241 |
| Travel | $507 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,500 |
| Interest | $0 |
| Payments to affiliates | $11,468 |
| Depreciation, depletion, and amortization | $55,341 |
| Insurance | $17,454 |
| All other expenses | $0 |
| Total functional expenses | $954,513 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $534,531 |
| Savings and temporary cash investments | $3,900,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,816 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $22,270,569 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $33,616 |
| Net Land, buildings, and equipment | $670,220 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,527,076 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $30,966,828 |
| Accounts payable and accrued expenses | $39,383 |
| 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 | $28,552,229 |
| Total liabilities | $28,591,612 |
| 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 | $2,375,216 |
| Total liabilities and net assets/fund balances | $30,966,828 |
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