Telco Triad Community Credit Union
- Assets
- $134.8m
- Revenue
- $5.7m
- Investments
- $0.0
- Employees
- 64
- Location
- Sioux City, IA
- Founding
- Data as of
- 12/2022
- EIN
- 42-0678833
Organization Overview
Telco Triad Community Credit Union is located in Sioux City, IA. As of 12/2022, Telco Triad Community Credit Union employed 64 individuals. Telco Triad Community 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, Telco Triad Community Credit Union generated $5.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $4.7m during the year ending 12/2022. While expenses have increased by 2.7% 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
TO ENCOURAGE HABITS OF THRIFT THROUGH EDUCATION AND PROVIDE FINANCIAL OPPORTUNITIES WITH GROWTH AND STABILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST, ENCOURAGE HABITS OF THRIFT AMONG MEMBERS, AND PROVIDE THE OPPORTUNITY FOR MEMBERS TO USE AND CONTROL THEIR SAVINGS FOR THEIR MUTUAL BENEFIT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Allan Brown Treasurer | OfficerTrustee | 1 | $0 |
Terry Blom Director | Trustee | 1 | $0 |
Brad Bergstrom Director | Trustee | 1 | $0 |
David Erickson Director | Trustee | 1 | $0 |
Lonnie Bermel Secretary | OfficerTrustee | 1 | $0 |
John Gunia Vice Chair | OfficerTrustee | 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 | $5,525,875 |
| Investment income | $184,568 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,450 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,708,993 |
| 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. | $164,182 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,813,428 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $320,962 |
| Payroll taxes | $154,039 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,080 |
| Fees for services: Accounting | $56,748 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $38,031 |
| Advertising and promotion | $158,423 |
| Office expenses | $122,466 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $238,719 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $42,763 |
| Interest | $327,477 |
| Payments to affiliates | $11,807 |
| Depreciation, depletion, and amortization | $124,798 |
| Insurance | $30,097 |
| All other expenses | $232,800 |
| Total functional expenses | $4,717,608 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,626,109 |
| Savings and temporary cash investments | $9,846,615 |
| 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 | $114,421,459 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $120,264 |
| Net Land, buildings, and equipment | $5,437,463 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,375,485 |
| Total assets | $134,827,395 |
| Accounts payable and accrued expenses | $1,210,242 |
| 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 | $120,923,075 |
| Total liabilities | $122,133,317 |
| 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 | $12,694,078 |
| Total liabilities and net assets/fund balances | $134,827,395 |