Members Community Credit Union
- Assets
- $81.9m
- Revenue
- $4.1m
- Investments
- $0.0
- Employees
- 28
- Location
- Muscatine, IA
- Founding
- Data as of
- 12/2021
- EIN
- 42-6061099
Organization Overview
Members Community Credit Union is located in Muscatine, IA. As of 12/2021, Members Community Credit Union employed 28 individuals. Members 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 12/2021, Members Community Credit Union generated $4.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $3.5m during the year ending 12/2021. While expenses have increased by 4.8% per year over the past 6 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
STATE CHARTERED CREDIT UNION
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Chapman CEO | Officer | 40 | $214,600 |
Randall Allee Board Member | Trustee | 1 | $0 |
Megan Francis Board Member | Trustee | 1 | $0 |
Joan Trullinger Board Member | Trustee | 1 | $0 |
Mike Nelson Board Member | Trustee | 1 | $0 |
Donald Curry Board Member | Trustee | 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 | $3,918,681 |
| Investment income | $176,088 |
| 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 | $4,094,769 |
| 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. | $214,600 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $919,032 |
| Pension plan accruals and contributions | $130,090 |
| Other employee benefits | $108,507 |
| Payroll taxes | $82,748 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,000 |
| Fees for services: Accounting | $38,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $56,689 |
| Office expenses | $263,758 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $124,643 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $31,255 |
| Interest | $68,872 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $188,207 |
| Insurance | $28,288 |
| All other expenses | $151,133 |
| Total functional expenses | $3,484,492 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,728,120 |
| Savings and temporary cash investments | $26,585,022 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,047 |
| Loans from Officers, Directors, or Controlling Persons | $1,291,356 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $47,473,715 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $114,121 |
| Net Land, buildings, and equipment | $2,554,906 |
| Investments—publicly traded securities | $21,437 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,108,370 |
| Total assets | $81,883,094 |
| Accounts payable and accrued expenses | $1,294,097 |
| 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 | $3,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $69,884,313 |
| Total liabilities | $74,178,410 |
| 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 | $2,838,090 |
| Retained earnings, endowment, accumulated income, or other funds | $4,866,594 |
| Total liabilities and net assets/fund balances | $81,883,094 |
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