University Of Iowa Community Credit Union
- Assets
- $5.4b
- Revenue
- $263.7m
- Investments
- $0.0
- Employees
- 547
- Location
- North Liberty, IA
- Founding
- 07/2019
- Data as of
- 12/2018
- EIN
- 42-0804594
University Of Iowa Community Credit Union Overview
University Of Iowa Community Credit 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 12/2018, University Of Iowa Community Credit Union employed 547 individuals.
For the year ending 12/2018, University Of Iowa Community Credit Union generated $263.7m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 15.2% each year . All expenses for the organization totaled $187.9m during the year ending 12/2018. While expenses have increased by 16.4% per year over the past 4 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
2018
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 2018, THE CREDIT UNION ORIGINATED $1,581,442,403 OF IN-HOUSE CONSUMER, REAL ESTATE, AND COMMERCIAL LOANS, AND ALSO ORIGINATED $550,513,733 IN FIRST MORTGAGE LOANS WHICH WERE SOLD ON THE SECONDARY MARKET.
PROVIDE SAVINGS AND DEPOSIT SERVICES TO THE MEMBERSHIP OF THE CREDIT UNION: IN 2018, TOTAL DEPOSITS IN THE CREDIT UNION GREW FROM $3,529,893,618 TO $4,103,454,285.
PROVIDE TRANSACTION SERVICES TO THE MEMBERSHIP OF THE CREDIT UNION: IN 2018, THE CREDIT UNION PROCESSED 42,457,402 FINANCIAL TRANSACTIONS FOR ITS MEMBERS.
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University Of Iowa Community Credit Union Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey A Disterhoft President & Chief Executive Officer | Officer | 50 | $1,211,188 |
Michael E Lehman Wealth Advisor | 50 | $623,050 | |
Mark A Law Managing Director Wealth Management | 50 | $611,673 | |
Eli M Wynes Wealth Advisor | 50 | $589,375 | |
Felisha A Junge Mortgage Loan Officer | 55 | $482,583 | |
Michael R Ward Mortgage Loan Officer | 50 | $466,166 |
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 | $219,547,772 |
| Investment income | $6,431,030 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $102,600 |
| Net Gain/Loss on Asset Sales | $1,479,482 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $263,650,226 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,182,505 |
| 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. | $4,020,136 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $20,141,938 |
| Pension plan accruals and contributions | $2,558,592 |
| Other employee benefits | $14,440,045 |
| Payroll taxes | $2,355,575 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $112,960 |
| Fees for services: Accounting | $300,219 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,220,619 |
| Advertising and promotion | $4,519,639 |
| Office expenses | $3,745,758 |
| Information technology | $2,676,184 |
| Royalties | $0 |
| Occupancy | $3,088,711 |
| Travel | $201,290 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,111 |
| Interest | $15,907,242 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,541,841 |
| Insurance | $290,819 |
| All other expenses | $1,459,909 |
| Total functional expenses | $187,859,035 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $145,648,206 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $11,832,073 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,981,996,381 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $11,271,536 |
| Net Land, buildings, and equipment | $94,825,149 |
| Investments—publicly traded securities | $43,404,900 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $945,364 |
| Other assets | $87,427,520 |
| Total assets | $5,377,351,129 |
| Accounts payable and accrued expenses | $25,045,147 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $15,286,371 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $765,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,104,016,754 |
| Total liabilities | $4,909,348,272 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $468,002,857 |
University Of Iowa Community Credit Union Grants Awarded
Over the last fiscal year, University Of Iowa Community Credit Union has awarded $957,479 in support to 80 organizations.
| Grant Recipient | Amount |
|---|---|
Iowa City, IA PURPOSE: ONE COMMUNITY-ONE BOARD, SCHOOL OF THE WILD, AND GENERAL SUPPORT | $52,000 |
Iowa City, IA PURPOSE: DANCE MARATHON, ARTS CAMPUS PLEDGE, AND MUSEUM OF ART | $42,000 |
Iowa City, IA PURPOSE: SUMMER OF ARTS JAZZ FESTIVAL AND FREE MOVIE SERIES | $33,000 |
Iowa City, IA PURPOSE: GENERAL SUPPORT | $31,250 |
Iowa City, IA PURPOSE: GENERAL SUPPORT | $30,000 |
Coralville, IA PURPOSE: GENERAL SUPPORT AND HOLIDAY MARKET EVENT | $30,000 |
University Of Iowa Community Credit Union Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alliant Credit Union Chicago, IL | $12,244,742,402 | $514,950,827 |
Citizens Equity First Credit Union Peoria, IL | $6,262,017,866 | $281,570,051 |
Baxter Credit Union Vernon Hills, IL | $3,921,954,593 | $268,990,676 |
University Of Iowa Community Credit Union North Liberty, IA | $5,377,351,129 | $263,650,226 |
Veridian Credit Union Waterloo, IA | $4,348,513,312 | $232,895,621 |
Ih Mississippi Valley Credit Union Moline, IL | $1,477,272,406 | $95,764,953 |
Consumers Cooperative Credit Union Gurnee, IL | $1,332,600,988 | $86,644,006 |
Scott Credit Union Edwardsville, IL | $1,268,134,429 | $68,652,150 |
Central Minnesota Credit Union Melrose, MN | $1,201,921,676 | $66,228,219 |
Credit Union 1 Rantoul, IL | $958,631,700 | $59,629,366 |
Great Lakes Credit Union Bannockburn, IL | $883,772,298 | $47,845,545 |
Deere Employees Credit Union Moline, IL | $1,039,065,095 | $51,717,341 |
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