GreenState Credit Union UNION
- Assets
- $11.3b
- Revenue
- $499.6m
- Investments
- $0.0
- Employees
- 1,124
- Location
- North Liberty, IA
- Founding
- 07/2019
- Data as of
- 12/2022
- EIN
- 42-0804594
Organization Overview
GreenState Credit Union UNION is located in North Liberty, IA. The organization was established in 2019. 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, GreenState Credit Union UNION employed 1,124 individuals. GreenState Credit Union 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, GreenState Credit Union UNION generated $499.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.8% each year . All expenses for the organization totaled $457.9m during the year ending 12/2022. While expenses have increased by 23.9% 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 2015, GreenState Credit Union UNION has awarded 554 individual grants totaling $8,909,519. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
IMPROVE THE QUALITY OF LIFE IN OUR COMMUNITIES BY PROMOTING THE FINANCIAL WELL-BEING OF OUR RESIDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE LENDING SERVICES TO THE MEMBERSHIP OF THE CREDIT UNION. IN 2022, THE CREDIT UNION ORIGINATED $1.205 BILLION OF IN-HOUSE MORTGAGE; $1.933 BILLION OF CONSUMER, AND $1.037 BILLION COMMERCIAL LOANS. IN ADDITION, ORIGINATED $936.98 MILLION IN FIRST MORTGAGE LOANS WHICH WERE SOLD ON THE SECONDARY MARKET.
PROVIDE SAVINGS AND DEPOSIT SERVICES TO THE MEMBERSHIP OF THE CREDIT UNION: IN 2022, TOTAL DEPOSITS IN THE CREDIT UNION GREW FROM $7.475 BILLION TO $9.077 BILLION.
PROVIDE TRANSACTION SERVICES TO THE MEMBERSHIP OF THE CREDIT UNION: IN 2022, THE CREDIT UNION PROCESSED 61,602,950 FINANCIAL TRANSACTIONS FOR ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey A Disterhoft President & CEO | Officer | 50 | $2,038,821 |
Marsha L Wolff Chief Hr & Information Officer | Officer | 50 | $1,103,155 |
Katherine B Courtney Chief Operating Officer | Officer | 50 | $791,952 |
Todd D Fanning Evp & Chief Financial Officer | Officer | 50 | $733,463 |
Amy K Henderson Chief Consumer Service Officer | Officer | 50 | $699,930 |
Felisha A Junge Mortgage Loan Officer | 50 | $653,430 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mccomas-lacina Const Construction | 12/30/22 | $901,866 |
Rsm Us Llp Professional Service | 12/30/22 | $3,625,684 |
Sonnick Partners Professional Service | 12/30/22 | $2,239,305 |
Lanvera Ltd Printing Service | 12/30/22 | $1,975,333 |
Xactus Llc Professional Service | 12/30/22 | $1,138,925 |
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 | $423,087,687 |
| Investment income | $14,682,104 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $280,250 |
| Net Gain/Loss on Asset Sales | -$946,396 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $499,617,400 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,560,859 |
| 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. | $6,993,555 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $62,266,153 |
| Pension plan accruals and contributions | $6,536,908 |
| Other employee benefits | $29,133,157 |
| Payroll taxes | $6,082,396 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $453,306 |
| Fees for services: Accounting | $863,029 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,263,296 |
| Advertising and promotion | $5,286,859 |
| Office expenses | $9,622,203 |
| Information technology | $15,044,932 |
| Royalties | $0 |
| Occupancy | $8,147,183 |
| Travel | $682,592 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,618 |
| Interest | $29,432,719 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,717,607 |
| Insurance | $807,228 |
| All other expenses | $0 |
| Total functional expenses | $457,912,805 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $727,104,819 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $17,151,681 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $9,897,852,728 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $13,696,210 |
| Net Land, buildings, and equipment | $134,660,659 |
| Investments—publicly traded securities | $58,379,803 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $136,955,164 |
| Other assets | $292,782,013 |
| Total assets | $11,278,583,077 |
| Accounts payable and accrued expenses | $57,821,129 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $21,861,910 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,209,819,827 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,079,604,874 |
| Total liabilities | $10,369,107,740 |
| 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 | $909,475,337 |
| Total liabilities and net assets/fund balances | $11,278,583,077 |
Grants Awarded
Over the last fiscal year, GreenState Credit Union UNION has awarded $2,536,787 in support to 131 organizations.
| Grant Recipient | Amount |
|---|---|
4 THE KIDZ PURPOSE: K2K 5K | $25,000 |
AFRICAN AMERICAN MUSEUM OF IOWA PURPOSE: Voices Inspiring Progress (Capital Campaign) | $16,667 |
AFRICAN AMERICAN MUSEUM OF IOWA PURPOSE: 2022 History Makers Gala - Presenting Sponsor | $10,000 |
AMERICAN HEART ASSOCIATION PURPOSE: Heart Walk and Go Red for Women | $12,000 |
AMERICAN HEART ASSOCIATION PURPOSE: Heart Walk and Go Red for Women | $6,000 |
ATHLETICS FOR EDUCATION AND SUCCESS PURPOSE: AFES summer Program | $12,500 |