Meritrust Credit Union is located in Wichita, KS. The organization was established in 1979. 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 12/2018, Meritrust Credit Union employed 413 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Meritrust 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 12/2018, Meritrust Credit Union generated $75.2m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $71.0m during the year ending 12/2018. While expenses have increased by 6.7% per year over the past 4 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
2018
Describe the Organization's Mission:
Part 3 - Line 1
MERITRUST CREDIT UNION PROVIDES FINANCIAL SERVICES WHILE MAINTAINING THE HIGHEST ETHICAL STANDARDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INCOME FROM THE CREDIT UNION MEMBERSHIP AND INVESTMENT OF MEMBER'S FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
James Nastars President/ceo | Officer | 40 | $447,373 |
Brian Davidson SVP Chief Business Officer | Officer | 40 | $393,073 |
Evan Wilson SVP Chief Experience Officer | Officer | 40 | $343,399 |
Jamie Harrison SVP Chief Retail Officer | Officer | 40 | $329,751 |
Randy Doerksen SVP Chief Financial Officer | Officer | 40 | $260,135 |
James Homan Financial Advisor | 40 | $248,067 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Fiserv Dns/software | 12/30/18 | $912,500 |
Hutton Construction Construction | 12/30/18 | $4,262,448 |
Ncr Corp Online & Mobile Banking | 12/30/18 | $3,665,464 |
Alexander Open Systems Network Storage | 12/30/18 | $993,086 |
Route 66 Warranty Extended Warranties | 12/30/18 | $2,463,442 |
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 | $68,508,680 |
Investment income | $4,284,177 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$34,341 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $75,229,939 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $11,883 |
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. | $2,906,059 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $18,009,959 |
Pension plan accruals and contributions | $731,902 |
Other employee benefits | $3,492,484 |
Payroll taxes | $1,539,520 |
Fees for services: Management | $556,606 |
Fees for services: Legal | $81,382 |
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 | $0 |
Advertising and promotion | $2,083,073 |
Office expenses | $4,626,956 |
Information technology | $4,752,142 |
Royalties | $0 |
Occupancy | $1,619,285 |
Travel | $51,140 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $273,868 |
Interest | $13,145,766 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $3,594,756 |
Insurance | $214,130 |
All other expenses | $434,092 |
Total functional expenses | $71,016,787 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $35,968,336 |
Savings and temporary cash investments | $30,139,345 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $2,446,293 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $1,049,299,508 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $3,467,408 |
Net Land, buildings, and equipment | $37,666,917 |
Investments—publicly traded securities | $11,640,741 |
Investments—other securities | $2,000,000 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $42,493,374 |
Total assets | $1,215,121,922 |
Accounts payable and accrued expenses | $10,634,527 |
Grants payable | $0 |
Deferred revenue | $742,533 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $2,158,985 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $73,872,000 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $1,005,451,233 |
Total liabilities | $1,092,859,278 |
Unrestricted restricted net Assets | $0 |
Temporarily restricted net Assets | $0 |
Permanently restricted net Assets or current funds | $0 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Total net assets or fund balances | $122,262,644 |
Organization Name | Assets | Revenue |
---|---|---|
Elevations Credit Union Boulder, CO | $2,213,511,736 | $149,375,954 |
Ttcu Federal Credit Union Tulsa, OK | $2,019,744,867 | $107,654,707 |
Meritrust Credit Union Wichita, KS | $1,215,121,922 | $75,229,939 |
Westerra Credit Union Denver, CO | $1,571,773,647 | $71,471,009 |
Credit Union Of America Wichita, KS | $985,502,271 | $61,355,535 |
Credit Unions Chartered In The State Of Colorado Boulder, CO | $1,241,180,693 | $60,792,013 |
Weokie Federal Credit Union Oklahoma City, OK | $1,024,486,254 | $42,986,888 |
Golden Plains Credit Union Garden City, KS | $674,691,693 | $39,065,233 |
Credit Union Of Denver Lakewood, CO | $885,526,918 | $40,489,630 |
True Sky Credit Union Oklahoma City, OK | $645,797,421 | $31,459,192 |
Oklahoma Central Credit Union Tulsa, OK | $580,520,428 | $29,411,171 |
Oklahomas Credit Union Oklahoma City, OK | $640,525,305 | $32,680,789 |