Accentra Credit Union
- Assets
- $198.5m
- Revenue
- $8.4m
- Investments
- $0.0
- Employees
- 58
- Location
- Austin, MN
- Founding
- 09/1944
- Data as of
- 12/2022
- EIN
- 41-0319960
Organization Overview
Accentra Credit Union is located in Austin, MN. The organization was established in 1944. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, Accentra Credit Union employed 58 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Accentra 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, Accentra Credit Union generated $8.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $7.4m during the year ending 12/2022. While expenses have increased by 5.0% 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
FINANCIAL SERVICES TO MEMBER OWNERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE LOANS TO MEMBERS AND TO PAY DIVIDENDS ON MEMBER SHARE ACCOUNTS, SHAREDRAFT ACCOUNTS AND CERTIFICATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sheri Dankert Board Member | Trustee | 0.5 | $523 |
Marisa Nagele Board Vice-Chair | OfficerTrustee | 0.5 | $425 |
Gordy Kuehne Board Chairman | OfficerTrustee | 1 | $557 |
Matt Cizik Board Member | Trustee | 0.5 | $463 |
Rayce Hardy Board Member | Trustee | 0.5 | $506 |
Darrell Ingvaldson Board Member | Trustee | 0.5 | $425 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fiserv Eft Solutions Eft Processing | 12/30/22 | $658,495 |
Fiserv Inc Data Processing | 12/30/22 | $324,044 |
Ncr Corporation Online Banking Processing | 12/30/22 | $263,084 |
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 | $7,645,555 |
| Investment income | $741,896 |
| 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 | $8,387,451 |
| 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 | $450,821 |
| Compensation of current officers, directors, key employees. | $699,298 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,355,865 |
| Pension plan accruals and contributions | $182,684 |
| Other employee benefits | $481,129 |
| Payroll taxes | $177,894 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,418 |
| Fees for services: Accounting | $50,936 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,481,519 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $292,300 |
| Travel | $58,625 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $90,319 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $303,386 |
| Insurance | $0 |
| All other expenses | $221,960 |
| Total functional expenses | $7,430,806 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,768,858 |
| Savings and temporary cash investments | $2,636,182 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,838,676 |
| Loans from Officers, Directors, or Controlling Persons | $2,419,783 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $136,916,138 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $183,374 |
| Net Land, buildings, and equipment | $3,529,018 |
| Investments—publicly traded securities | $26,599,204 |
| Investments—other securities | $0 |
| Investments—program-related | $18,063,800 |
| Intangible assets | $0 |
| Other assets | $2,505,242 |
| Total assets | $198,460,275 |
| Accounts payable and accrued expenses | $2,886,934 |
| 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 | $5,700,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $176,139,350 |
| Total liabilities | $184,726,284 |
| 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 | $13,733,991 |
| Total liabilities and net assets/fund balances | $198,460,275 |