Golden Plains Credit Union
- Assets
- $991.4m
- Revenue
- $60.6m
- Investments
- $4.0m
- Employees
- 289
- Location
- Garden City, KS
- Founding
- 10/1978
- Data as of
- 12/2023
- EIN
- 48-0587457
Organization Overview
Golden Plains Credit Union is located in Garden City, KS. The organization was established in 1978. 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 12/2023, Golden Plains Credit Union employed 289 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Golden Plains 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, Golden Plains Credit Union generated $60.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $51.0m during the year ending 12/2023. While expenses have increased by 7.6% 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
TO PROVIDE SUPERIOR QUALITY AND VALUE IN EVERY SERVICE OFFERED
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 89,448 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, THERE WERE 54,719 LOANS OUTSTANDING TOTALING $893,483,313.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $16,282,842 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Yaekley Chairperson | Trustee | 0.75 | $0 |
William Delong Vice Chairperson | Trustee | 0.75 | $0 |
Neil Hawley Secretary / Treasurer | Trustee | 0.75 | $0 |
Dave Piper Director | Trustee | 0.75 | $0 |
Jessica Wikoff Director | Trustee | 0.75 | $0 |
Erich Schaefer President/ceo (retired) | Officer | 40 | $150,276 |
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 | $58,137,762 |
| Investment income | $2,351,776 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $155,467 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$52,266 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $60,592,739 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $48,858 |
| Grants and other assistance to domestic individuals. | $11,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,538,561 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,592,239 |
| Pension plan accruals and contributions | $406,592 |
| Other employee benefits | $1,108,152 |
| Payroll taxes | $870,180 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,589 |
| Fees for services: Accounting | $225,521 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,484,845 |
| Advertising and promotion | $641,063 |
| Office expenses | $1,971,565 |
| Information technology | $527,806 |
| Royalties | $0 |
| Occupancy | $1,245,522 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $445,247 |
| Interest | $2,830,178 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $956,748 |
| Insurance | $128,616 |
| All other expenses | $262,919 |
| Total functional expenses | $51,013,199 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,214,916 |
| Savings and temporary cash investments | $61,101,012 |
| 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 | $887,261,989 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $416,349 |
| Net Land, buildings, and equipment | $11,801,373 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,030,751 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,539,056 |
| Total assets | $991,365,446 |
| Accounts payable and accrued expenses | $9,678,870 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $4,707,015 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $60,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $807,157,694 |
| Total liabilities | $881,543,579 |
| 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 | $109,821,867 |
| Total liabilities and net assets/fund balances | $991,365,446 |