Town & Country Credit Union
- Assets
- $485.7m
- Revenue
- $26.8m
- Investments
- $0.0
- Employees
- 200
- Location
- Minot, ND
- Founding
- 04/1942
- Data as of
- 12/2019
- EIN
- 45-0278124
Town & Country Credit Union Overview
Town & Country Credit Union is located in Minot, ND. The organization was established in 1942. 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 12/2019, Town & Country Credit Union employed 200 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Town & Country 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 12/2019, Town & Country Credit Union generated $26.8m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $24.0m during the year ending 12/2019. While expenses have increased by 5.3% per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD TRUSTED FINANCIAL RELATIONSHIPS THROUGH PERSONALIZED SERVICE
Describe the Organization's Program Activity:
Part 3 - Line 4a
NON-PROFIT ORGANIZATION PROVIDING FINANCIAL SERVICES TO A FIELD OF MEMBERSHIP.
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Town & Country Credit Union Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mortgage Loan Officers4 Individuals Mortgage Loan Originator | 40 | $881,967 | |
Jeremiah Kossen CEO | Officer | 40 | $505,391 |
Jay Landsiedel CFO | Officer | 40 | $234,056 |
Adam Silbernagel Chief Information Officer | 40 | $207,937 | |
Jeff Stremick Secretary/treasurer | OfficerTrustee | 1 | $0 |
Delrae Geinert Chair | OfficerTrustee | 1 | $0 |
Town & Country Credit Union Vendors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ici Consulting Inc Core System Sonsultant | 12/30/19 | $169,667 |
Malauzai Software Mobile App Services | 12/30/19 | $160,587 |
Accelerated Greenworks Inc Lawn Care, Snow Removal | 12/30/19 | $101,497 |
Hight Construction Llc General Contractor On Branch Remodel | 12/30/19 | $275,620 |
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 | $26,264,959 |
| Investment income | $388,056 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $134,615 |
| Net Gain/Loss on Asset Sales | $33,943 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,821,573 |
| 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. | $739,772 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,674,870 |
| Pension plan accruals and contributions | $592,344 |
| Other employee benefits | $940,010 |
| Payroll taxes | $678,245 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $57,937 |
| Advertising and promotion | $536,842 |
| Office expenses | $2,319,772 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $987,221 |
| Travel | $148,748 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,661,728 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,169,736 |
| Insurance | $0 |
| All other expenses | $82,388 |
| Total functional expenses | $24,011,787 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,894,463 |
| Savings and temporary cash investments | $37,769,875 |
| 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 | $407,720,661 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $639,089 |
| Net Land, buildings, and equipment | $14,361,601 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $7,677,613 |
| Intangible assets | $0 |
| Other assets | $8,660,240 |
| Total assets | $485,723,542 |
| Accounts payable and accrued expenses | $2,814,223 |
| 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 | $2,500,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $415,078,049 |
| Total liabilities | $420,392,272 |
| 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 | $65,331,270 |
| Total liabilities and net assets/fund balances | $485,723,542 |
Town & Country Credit Union Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
First Community Credit Union Jamestown, ND | $851,824,528 | $47,098,566 |
City & County Credit Union Saint Paul, MN | $1,064,843,599 | $45,371,383 |
Ideal Credit Union Woodbury, MN | $858,517,185 | $42,029,968 |
Members Cooperative Credit Union Duluth, MN | $796,073,008 | $41,235,372 |
Town & Country Credit Union Minot, ND | $485,723,542 | $26,821,573 |
Capital Credit Union Bismarck, ND | $540,917,599 | $30,059,348 |
Southpoint Financial Credit Union Sleepy Eye, MN | $353,734,866 | $16,496,430 |
North Star Community Credit Union Maddock, ND | $311,136,853 | $16,631,211 |
Valley Financial Credit Union Billings, MT | $297,066,702 | $19,028,159 |
Western Cooperative Credit Union Williston, ND | $358,802,224 | $15,994,606 |
First Alliance Credit Union Stewartville, MN | $207,900,558 | $13,843,982 |
My Credit Union Bloomington, MN | $307,549,200 | $12,977,702 |
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