United Credit Union
- Assets
- $273.0m
- Revenue
- $20.8m
- Investments
- $22.4m
- Employees
- 131
- Location
- Mexico, MO
- Founding
- Data as of
- 12/2023
- EIN
- 43-0300770
Organization Overview
United Credit Union is located in Mexico, MO. As of 12/2023, United Credit Union employed 131 individuals. United 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 12/2023, United Credit Union generated $20.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.7% each year. All expenses for the organization totaled $15.5m during the year ending 12/2023. While expenses have increased by 7.9% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
BUILDING FINANCIAL SUCCESS ONE MEMBER AT A TIME
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 28,094 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, THERE WERE 121,940 LOANS OUTSTANDING TOTALING $215,320,032, INCLUDING LOAN PARTICIPATIONS.
PAID DIVIDENDS AND INTEREST ON MEMBER DEPOSITS TOTALING $669,491 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jo Ellen Craghead Chairperson | Trustee | 1 | $0 |
William Kevin Wenzel Vice Chairperson | Trustee | 1 | $0 |
Christopher Denham Secretary | Trustee | 1 | $0 |
Patrick Donovan Treasurer | Trustee | 1 | $0 |
Jeffrey Tayon Director | Trustee | 1 | $0 |
Charles Roach Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Next Level It I/t Network/software | 12/30/23 | $192,017 |
Elliott Data Systems Inc Credit/debit Card Services | 12/30/23 | $155,965 |
Urban Ft Client Solutions Llc Online Banking Services | 12/30/23 | $149,988 |
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 | $20,267,182 |
| Investment income | $528,011 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $26,888 |
| 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 | $20,822,081 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $9,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,327,048 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,044,406 |
| Pension plan accruals and contributions | $259,949 |
| Other employee benefits | $576,516 |
| Payroll taxes | $395,903 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $40,317 |
| Fees for services: Accounting | $57,507 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,000 |
| Fees for services: Other | $2,908,977 |
| Advertising and promotion | $166,532 |
| Office expenses | $863,128 |
| Information technology | $862,373 |
| Royalties | $0 |
| Occupancy | $357,136 |
| Travel | $36,147 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $101,096 |
| Interest | $319,853 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $504,773 |
| Insurance | $87,253 |
| All other expenses | $385,947 |
| Total functional expenses | $15,524,499 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,085,313 |
| Savings and temporary cash investments | $8,522,414 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $2,900,252 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $212,227,720 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,082,080 |
| Net Land, buildings, and equipment | $7,247,753 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $22,395,214 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,572,281 |
| Total assets | $273,033,027 |
| Accounts payable and accrued expenses | $7,740,557 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $61,278 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $228,385,770 |
| Total liabilities | $240,187,605 |
| 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 | $32,845,422 |
| Total liabilities and net assets/fund balances | $273,033,027 |