Arsenal Credit Union
- Assets
- $397.1m
- Revenue
- $26.7m
- Investments
- $77.0m
- Employees
- 119
- Location
- Arnold, MO
- Founding
- 00/0000
- Data as of
- 12/2023
- EIN
- 43-0663009
Organization Overview
Arsenal Credit Union is located in Arnold, MO. The organization was established in 0000. 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 12/2023, Arsenal Credit Union employed 119 individuals. Arsenal 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, Arsenal Credit Union generated $26.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.5% each year . All expenses for the organization totaled $25.9m during the year ending 12/2023. While expenses have increased by 12.1% 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 PROMOTE THRIFT AMONG ITS MEMBERS BY AFFORDING THEM AN OPPORTUNITY FOR ACCUMULATING THEIR SAVINGS; TO CREATE FOR THEM A SOURCE OF CREDIT AT FAIR AND REASONABLE RATES OF INTEREST; TO PROVIDE THE OPPORTUNITY FOR THE MEMBERS TO USE AND CONTROL THEIR MONEY FOR THEIR MUTUAL BENEFIT; TO EDUCATE MEMBERS IN THE PRUDENT USE OF MONEY AND CREDIT; TO OPERATE IN THE SPIRIT OF COOPERATION AND NOT FOR PROFIT; TO IMPROVE THE COMMUNITY IN WHICH IT OPERATES; AND TO PROVIDE OTHER FISCAL AND FINANCIAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 31,476 MEMBERS; AND PAID DIVIDENDS AND INTEREST ON DEPOSITS TOTALING $5,766,494 FOR THE YEAR.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT FAIR AND REASONABLE RATES OF INTEREST. AS OF DECEMBER 31, 2023, THERE WERE 17,424 LOANS OUTSTANDING TOTALING $278,007,349.
SUCCESSFULLY EXECUTED LIQUIDITY RESTORATION PLAN, IMPLEMENTED CECL TRANSITION, AND MAINTAINED A NET INTEREST MARGIN OF 3.77% DURING HIGHER RATE ENVIRONMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Dierks Chairman | Trustee | 2 | $0 |
Bob Killion Vice Chairman | Trustee | 2 | $0 |
Juanita Novotny Treasurer | Trustee | 2 | $0 |
Keith Emery Secretary | Trustee | 2 | $0 |
Adam Thurau Director | Trustee | 2 | $0 |
Peggy Haberberger Director | Trustee | 2 | $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 | $9,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,000 |
| Total Program Service Revenue | $24,490,423 |
| Investment income | $2,137,735 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $71,078 |
| 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 | $26,708,236 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,500 |
| Grants and other assistance to domestic individuals. | $7,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,849,131 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,976,413 |
| Pension plan accruals and contributions | $208,378 |
| Other employee benefits | $452,029 |
| Payroll taxes | $462,591 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,093 |
| Fees for services: Accounting | $85,919 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $186,745 |
| Advertising and promotion | $413,136 |
| Office expenses | $2,638,883 |
| Information technology | $817,271 |
| Royalties | $0 |
| Occupancy | $376,134 |
| Travel | $43,234 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $56,402 |
| Interest | $421,658 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $566,570 |
| Insurance | $104,542 |
| All other expenses | $181,320 |
| Total functional expenses | $25,882,276 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,744,918 |
| Savings and temporary cash investments | $20,178,397 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $273,452,274 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $989,042 |
| Net Land, buildings, and equipment | $8,654,023 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $76,987,135 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,118,407 |
| Total assets | $397,124,196 |
| Accounts payable and accrued expenses | $5,840,959 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $363,749,896 |
| Total liabilities | $369,590,855 |
| 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 | $27,533,341 |
| Total liabilities and net assets/fund balances | $397,124,196 |