Metro Credit Union
- Assets
- $107.2m
- Revenue
- $5.9m
- Investments
- $19.3m
- Employees
- 41
- Location
- Springfield, MO
- Founding
- Data as of
- 12/2023
- EIN
- 43-1254000
Organization Overview
Metro Credit Union is located in Springfield, MO. As of 12/2023, Metro Credit Union employed 41 individuals. Metro 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, Metro Credit Union generated $5.9m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 12.7% each year . All expenses for the organization totaled $5.2m during the year ending 12/2023. While expenses have increased by 12.2% 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
PROVIDE MEMBERS WITH QUALITY FINANCIAL SERVICES AT THE BEST COST WITHIN SOUND BUSINESS PRACTICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 9,522 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, LOANS OUTSTANDING TOTALED $73,777,675, INCLUDING PARTICIPATION LOANS OF $2,645,640.
PAID DIVIDENDS AND INTEREST ON SHARES AND DEPOSITS TOTALING $915,374 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David O'dell Chairman | Trustee | 1 | $0 |
Michael Pinkley Vice Chairman | Trustee | 1 | $0 |
Larry Von Holten Secretary / Treasurer | Trustee | 1 | $0 |
Steve Shanholtzer Board Member | Trustee | 1 | $0 |
Carol Rothermel Board Member | Trustee | 1 | $0 |
Melissa Denney 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 | $3,850 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,850 |
| Total Program Service Revenue | $5,169,893 |
| Investment income | $727,941 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $20,906 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$25,800 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,896,790 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $330,544 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,302,992 |
| Pension plan accruals and contributions | $86,727 |
| Other employee benefits | $160,576 |
| Payroll taxes | $122,891 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,184 |
| Fees for services: Accounting | $44,606 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $108,672 |
| Office expenses | $243,643 |
| Information technology | $381,351 |
| Royalties | $0 |
| Occupancy | $169,475 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $45,597 |
| Interest | $921 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $134,586 |
| Insurance | $41,267 |
| All other expenses | $27,007 |
| Total functional expenses | $5,212,093 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $850,864 |
| Savings and temporary cash investments | $8,214,753 |
| 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 | $73,344,688 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $133,659 |
| Net Land, buildings, and equipment | $2,173,885 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $19,327,614 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,196,425 |
| Total assets | $107,241,888 |
| Accounts payable and accrued expenses | $361,366 |
| 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 | $94,577,317 |
| Total liabilities | $94,938,683 |
| 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 | $12,303,205 |
| Total liabilities and net assets/fund balances | $107,241,888 |