Spire Credit Union

Organization Overview

Spire Credit Union is located in Falcon Heights, MN. The organization was established in 1944. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Spire Credit Union employed 566 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Spire 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, Spire Credit Union generated $81.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.8% each year . All expenses for the organization totaled $60.6m during the year ending 12/2021. While expenses have increased by 9.7% per year over the past 7 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.

Since 2020, Spire Credit Union has awarded 26 individual grants totaling $393,949. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO IMPROVE THE FINANCIAL WELL BEING OF OUR MEMBER-OWNERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDING SAVINGS DEPOSIT SERVICES, CHECKING ACCOUNTS, ORIGINATING NEW LOANS, AND SERVICING THE LOAN PORTFOLIO FOR MEMBERS.


DIVIDENDS PAID TO MEMBERS ON 292,553 DEPOSIT ACCOUNTS HELD BY 142,385 MEMBERS TOTALING $3,539,131.


RECORDING MEMBER ACCOUNT ACTIVITY AND PROVIDING MEMBERS ACCESS TO THEIR ACCOUNTS VIA HOME BANKING, ATM NETWORKS, AND IN PERSON AT THE CU OFFICE.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Greiner Construction
Bldg. Construction
$4,501,901
Presidio Networked Solutions Group
Data Processing Hardware & Software
$2,064,156
Alkami Technology Inc
Data Processing Products & Testing
$1,346,968
Jack Henry And Associates Inc
System Hard/software
$1,175,968
Media Bridge
Advertising
$985,611
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$78,173,098
Investment income $2,514,388
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $617,707
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $81,305,193

Grants Awarded

Over the last fiscal year, Spire Credit Union has awarded $52,366 in support to 5 organizations.

Grant RecipientAmount

SALVATION ARMY NORTHERN DIVISION

Org PageRecipient Profile

Roseville, MN

PURPOSE: KETTLE MATCH & NETGIVER MATCHES

$25,760

KSTP FM

PURPOSE: CLOUDS CHOIR SPONSORSHIP

$10,000

PAIN FREE PATRIOTS

Org PageRecipient Profile

Minnetonka, MN

PURPOSE: FOOD DONATION AND HAND SANITIZER

$5,750

ST PAUL POLICE FOUNDATION

Org PageRecipient Profile

St Paul, MN

PURPOSE: EVENT SPONSORSHIP & BANNER PRINTING

$5,506

SECONDHAND HOUNDS

Org PageRecipient Profile

Minnetonka, MN

PURPOSE: EVENT SPONSORSHIP & NETGIVER MATCHES

$5,350
View Grant Profile

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