Arsenal Credit Union
- Assets
- $349.9m
- Revenue
- $18.9m
- Investments
- $98.8m
- Employees
- 111
- Location
- Arnold, MO
- Founding
- 00/0000
- Data as of
- 12/2021
- 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 12/2021, Arsenal Credit Union employed 111 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 12/2021, Arsenal Credit Union generated $18.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $14.6m during the year ending 12/2021. While expenses have increased by 5.1% per year over the past 7 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
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 30,531 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT FAIR AND REASONABLE RATES OF INTEREST. AS OF DECEMBER 31, 2021, THERE WERE 18,954 LOANS OUTSTANDING TOTALING $216,023,118.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $991,169 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Allen President | Officer | 40 | $541,526 |
Amber Abbitt Senior Vice President | Officer | 40 | $164,569 |
John Gerke Senior Vice President | Officer | 40 | $155,901 |
Lori Crutchley Senior Vice President | Officer | 40 | $145,771 |
Cassandra Hendrixson Senior Vice President | Officer | 40 | $133,714 |
Greg Clarke Senior Vice President | Officer | 40 | $92,914 |
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 | $14,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,000 |
| Total Program Service Revenue | $18,033,917 |
| Investment income | $805,542 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $24,786 |
| 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 | $18,878,245 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,206 |
| Grants and other assistance to domestic individuals. | $5,400 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,292,007 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,753,237 |
| Pension plan accruals and contributions | $143,163 |
| Other employee benefits | $401,453 |
| Payroll taxes | $333,595 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,936 |
| Fees for services: Accounting | $107,129 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,610 |
| Fees for services: Other | $130,294 |
| Advertising and promotion | $305,813 |
| Office expenses | $2,439,122 |
| Information technology | $633,914 |
| Royalties | $0 |
| Occupancy | $404,158 |
| Travel | $23,294 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $50,781 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $680,646 |
| Insurance | $96,199 |
| All other expenses | $379,260 |
| Total functional expenses | $14,617,620 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,906,905 |
| Savings and temporary cash investments | $15,036,034 |
| 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 | $213,880,390 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $518,989 |
| Net Land, buildings, and equipment | $8,157,574 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $98,786,119 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,590,775 |
| Total assets | $349,876,786 |
| Accounts payable and accrued expenses | $4,162,258 |
| 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 | $312,446,075 |
| Total liabilities | $316,608,333 |
| 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 | $33,268,453 |
| Total liabilities and net assets/fund balances | $349,876,786 |
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