Railway Credit Union
- Assets
- $162.1m
- Revenue
- $6.6m
- Investments
- $185.0k
- Employees
- 29
- Location
- Mandan, ND
- Founding
- 11/1972
- Data as of
- 12/2022
- EIN
- 45-0240799
Organization Overview
Railway Credit Union is located in Mandan, ND. The organization was established in 1972. 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 12/2022, Railway Credit Union employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Railway 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 12/2022, Railway Credit Union generated $6.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $5.0m during the year ending 12/2022. While expenses have increased by 5.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FINANCIAL SERVICES TO CREDIT UNION MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FINANCIALS SERVICES TO CREDIT UNION MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul J Brucker President/ceo | Officer | 50 | $274,175 |
Chad Bartosh Chief Lending Officer | Officer | 45 | $131,709 |
Heather Fleck VP Of Operations | Officer | 45 | $125,918 |
Derrick Hertz Chief Financial Officer | Officer | 45 | $112,547 |
Douglas M Erhart Chairman | Trustee | 5 | $0 |
A E Fry Vice Chairman | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cmc Flex Financial Technology Processor | 12/30/22 | $211,708 |
Worldpay - Fis Debit Card Processor | 12/30/22 | $152,662 |
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 | $0 |
| Investment income | $646,216 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| 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 | $6,627,392 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $644,349 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,238,044 |
| Pension plan accruals and contributions | $252,894 |
| Other employee benefits | $271,264 |
| Payroll taxes | $137,125 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,225 |
| Fees for services: Accounting | $518,709 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $141,666 |
| Office expenses | $228,795 |
| Information technology | $28,087 |
| Royalties | $0 |
| Occupancy | $170,367 |
| Travel | $7,854 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $33,225 |
| Interest | $1 |
| Payments to affiliates | $47,207 |
| Depreciation, depletion, and amortization | $135,072 |
| Insurance | $39,674 |
| All other expenses | $50,970 |
| Total functional expenses | $4,972,208 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $498,000 |
| Savings and temporary cash investments | $11,665,942 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,245 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $121,271,802 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $61,806 |
| Net Land, buildings, and equipment | $2,800,914 |
| Investments—publicly traded securities | $23,217,833 |
| Investments—other securities | $185,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,439,497 |
| Total assets | $162,148,039 |
| Accounts payable and accrued expenses | $1,842,913 |
| 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 | $140,819,889 |
| Total liabilities | $142,662,802 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $8,500,000 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $10,985,237 |
| Total liabilities and net assets/fund balances | $162,148,039 |