Des Moines Metro Credit Union is located in Des Moines, IA. The organization was established in 0000. 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 12/2021, Des Moines Metro Credit Union employed 23 individuals. Des Moines Metro 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, Des Moines Metro Credit Union generated $2.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $2.2m during the year ending 12/2021. While expenses have increased by 2.2% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO MEET MEMBER FINANCIAL NEEDS OUR UNIQUE WAY
Describe the Organization's Program Activity:
Part 3 - Line 4a
DES MOINES METRO HAS APPROXIMATELY 6,533 MEMBERS AS OF 12/31/2021 AND OFFERS SAVINGS, LOANS, AND CERTIFICATES OF DEPOSIT.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
James Anderson CEO | Officer | 40 | $230,788 |
Traci Stiles Evp | Officer | 40 | $95,407 |
Cindy Smith Chairman | OfficerTrustee | 1 | $0 |
Dan Ritter Treasurer | OfficerTrustee | 1 | $0 |
David Bair Vice Chairman | OfficerTrustee | 1 | $0 |
Donna Heckman Secretary | OfficerTrustee | 1 | $0 |
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 | $1,707,631 |
Investment income | $265,946 |
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 | $2,388,263 |
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. | $356,368 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $406,295 |
Pension plan accruals and contributions | $23,357 |
Other employee benefits | $109,767 |
Payroll taxes | $57,278 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $59,150 |
Office expenses | $119,101 |
Information technology | $220,431 |
Royalties | $0 |
Occupancy | $87,773 |
Travel | $8,194 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $1,200 |
Interest | $108,363 |
Payments to affiliates | $6,432 |
Depreciation, depletion, and amortization | $78,914 |
Insurance | $23,696 |
All other expenses | $104,627 |
Total functional expenses | $2,240,894 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $862,940 |
Savings and temporary cash investments | $33,769,591 |
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 | $32,043,884 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $19,375 |
Net Land, buildings, and equipment | $679,964 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $3,565,400 |
Total assets | $70,941,154 |
Accounts payable and accrued expenses | $737,465 |
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 | $62,878,173 |
Total liabilities | $63,615,638 |
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 | $2,100,360 |
Retained earnings, endowment, accumulated income, or other funds | $5,225,156 |
Total liabilities and net assets/fund balances | $70,941,154 |
Organization Name | Assets | Revenue |
---|---|---|
University Of Illinois Community Credit Union Champaign, IL | $475,743,912 | $22,792,231 |
Land Of Lincoln Credit Union Decatur, IL | $357,439,691 | $20,389,555 |
Southpoint Financial Credit Union Sleepy Eye, MN | $509,297,128 | $21,366,397 |
Heritage Credit Union Deforest, WI | $461,320,772 | $20,193,229 |
Siu Credit Union Carbondale, IL | $404,439,735 | $19,509,001 |
Healthcare Associates Credit Union Naperville, IL | $470,519,753 | $19,024,406 |
Financial Plus Credit Union Ottawa, IL | $450,128,379 | $18,435,940 |
Streator Onized Credit Union Streator, IL | $322,868,914 | $20,466,912 |
Arsenal Credit Union Arnold, MO | $349,876,786 | $18,878,245 |
Kane County Teachers Credit Union Elgin, IL | $376,184,077 | $16,257,755 |
First Alliance Credit Union Stewartville, MN | $266,858,268 | $15,921,045 |
First Northern Credit Union Chicago, IL | $376,782,772 | $14,919,062 |