West Community Credit Union
- Assets
- $469.4m
- Revenue
- $31.9m
- Investments
- $14.3m
- Employees
- 154
- Location
- Ofallon, MO
- Founding
- Data as of
- 12/2023
- EIN
- 43-0603999
Organization Overview
West Community Credit Union is located in Ofallon, MO. As of 12/2023, West Community Credit Union employed 154 individuals. West 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 12/2023, West Community Credit Union generated $31.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.3% each year . All expenses for the organization totaled $28.8m during the year ending 12/2023. While expenses have increased by 13.2% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO BE OUR MEMBERS' LIFELONG FINANCIAL PARTNER BY TRULY UNDERSTANDING THEIR STORIES AND DELIVERING SMART SOLUTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 32,276 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, THERE WERE 19,897 LOANS OUTSTANDING TOTALING $403,410,873, INCLUDING LOAN PARTICIPATIONS.
PAID DIVIDENDS ON DEPOSITS TOTALING $4,147,900 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Murphy Chairman | Trustee | 1 | $0 |
Tom Krapu Vice Chairman | Trustee | 1 | $0 |
Eric Vanderhoef Secretary | Trustee | 1 | $0 |
Chris Abbott Treasurer | Trustee | 1 | $0 |
Trinetta Taylor Board Member | Trustee | 1 | $0 |
Sean Long Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,238,673 |
| 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 | $2,238,673 |
| Total Program Service Revenue | $28,368,777 |
| Investment income | $1,225,623 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $34,704 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $27,751 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $31,895,528 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $35,184 |
| Grants and other assistance to domestic individuals. | $9,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $13,694 |
| Compensation of current officers, directors, key employees. | $1,653,561 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,003,570 |
| Pension plan accruals and contributions | $519,641 |
| Other employee benefits | $766,512 |
| Payroll taxes | $615,328 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $66,386 |
| Fees for services: Accounting | $82,603 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,139,779 |
| Advertising and promotion | $643,247 |
| Office expenses | $1,022,923 |
| Information technology | $858,961 |
| Royalties | $0 |
| Occupancy | $1,365,829 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $144,498 |
| Interest | $2,293,571 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,039,725 |
| Insurance | $168,434 |
| All other expenses | $160,533 |
| Total functional expenses | $28,750,269 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,578,106 |
| Savings and temporary cash investments | $6,216,222 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $1,755,415 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $401,251,917 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,471,843 |
| Net Land, buildings, and equipment | $20,524,061 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $14,281,094 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $14,281,238 |
| Total assets | $469,359,896 |
| Accounts payable and accrued expenses | $8,938,092 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $100,261 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $42,500,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $382,105,307 |
| Total liabilities | $433,643,660 |
| 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 | $35,716,236 |
| Total liabilities and net assets/fund balances | $469,359,896 |