Credit Union Of America

Organization Overview

Credit Union Of America is located in Wichita, KS. The organization was established in 1935. 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, Credit Union Of America employed 311 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Credit Union Of America 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, Credit Union Of America generated $72.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $51.5m during the year ending 12/2021. While expenses have increased by 7.2% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDE LENDING, SAVINGS, AND FINANCIAL SERVICES FOR MUTUAL PURPOSE, INCLUDING CONSUMER LOANS, REAL ESTATE LOANS, CREDIT CARDS, SAVINGS AND CERTIFICATE ACCOUNTS, INVESTMENT OPTIONS, AND MULTIPLE METHODS FOR MEMBER ACCESS TO THEIR FINANCIAL SERVICES AND RESOURCES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDE DEPOSIT SERVICES TO 91,126 MEMBERS.


PROVIDE LOAN SERVICES TO 65,849 MEMBERS.


PROVIDE CHECKING ACCOUNT TRANSACTION AND PAYMENT SERVICES AND ACCOUNT ACCESS TO 49,893 MEMBERS.


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Board, Officers & Key Employees

Name (title)Compensation
Frank Shoffner
CEO
$750,303
Lee Ann Gabbert
Cao
$376,032
Pam Hildebrand
Re Loan Officer
$335,540
Paul Meissner
CFO
$289,860
Eileen Phelps
COO
$263,910
Heather Baker
Re Loan Officer
$260,377

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Gibson Watson Marino Llc
Attorney/legal
$113,341
Kaufman Hall And Associates
Financial Reporting Software
$109,659
View All Vendors

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$66,910,204
Investment income $4,529,878
Tax Exempt Bond Proceeds $0
Royalties $143,919
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 $72,395,937

Peer Organizations

Organization NameAssets
Ttcu Federal Credit Union
Tulsa, OK
$123,227,030
Westerra Credit Union
Denver, CO
$60,087,395
Credit Union Of America
Wichita, KS
$72,395,937
Credit Unions Chartered In The State Of Colorado
Broomfield, CO
$57,634,628
Meritrust Credit Union
Wichita, KS
$48,306,293
True Sky Credit Union
Oklahoma City, OK
$47,281,663
Weokie Federal Credit Union
Oklahoma City, OK
$42,986,888
Golden Plains Credit Union
Garden City, KS
$40,747,458
Credit Union Of Denver
Lakewood, CO
$39,919,680
Oklahomas Credit Union
Oklahoma City, OK
$32,235,785
Azura Credit Union
Topeka, KS
$33,958,013
Millennium Corporate Credit Union
Wichita, KS
$44,466,623

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