Golden Plains Credit Union
- Assets
- $831.0m
- Revenue
- $40.7m
- Investments
- $4.8m
- Employees
- 271
- Location
- Garden City, KS
- Founding
- 10/1978
- Data as of
- 12/2021
- 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 12/2021, Golden Plains Credit Union employed 271 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 12/2021, Golden Plains Credit Union generated $40.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $28.6m during the year ending 12/2021. While expenses have increased by 1.1% 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
2021
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 82,999 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2021, THERE WERE 47,576 LOANS OUTSTANDING TOTALING $670,406,545.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $3,801,113 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erich Schaefer President/ceo | Officer | 55 | $465,276 |
Ted Underwood Evp | Officer | 55 | $364,878 |
Rosa Saenz SVP Operations | Officer | 55 | $191,082 |
Jeremy Curlo VP Information Technology | Officer | 55 | $151,668 |
Dustin Bailey SVP Indirect Lending | Officer | 55 | $148,677 |
Ruth Ruder VP Branch Services | Officer | 55 | $121,878 |
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 | $40,390,614 |
| Investment income | $174,510 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $141,607 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $40,727 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $40,747,458 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $11,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,918,578 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,716,582 |
| Pension plan accruals and contributions | $416,632 |
| Other employee benefits | $1,202,219 |
| Payroll taxes | $822,046 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $193,249 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,466,690 |
| Advertising and promotion | $530,416 |
| Office expenses | $1,685,022 |
| Information technology | $323,459 |
| Royalties | $0 |
| Occupancy | $1,155,115 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $306,566 |
| Interest | $25,359 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $983,037 |
| Insurance | $109,554 |
| All other expenses | $292,491 |
| Total functional expenses | $28,629,262 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,984,726 |
| Savings and temporary cash investments | $124,909,061 |
| 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 | $665,038,362 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $272,170 |
| Net Land, buildings, and equipment | $11,719,055 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,837,502 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $14,266,578 |
| Total assets | $831,027,454 |
| Accounts payable and accrued expenses | $7,999,497 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $5,247,404 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,464,008 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $725,451,238 |
| Total liabilities | $741,162,147 |
| 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 | $89,865,307 |
| Total liabilities and net assets/fund balances | $831,027,454 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ttcu Federal Credit Union Tulsa, OK | $2,611,508,582 | $123,227,030 |
Westerra Credit Union Denver, CO | $1,970,586,116 | $60,087,395 |
Credit Union Of America Wichita, KS | $1,284,661,575 | $72,395,937 |
Credit Unions Chartered In The State Of Colorado Broomfield, CO | $1,586,159,504 | $57,634,628 |
Meritrust Credit Union Wichita, KS | $1,281,507,668 | $48,306,293 |
True Sky Credit Union Oklahoma City, OK | $831,301,668 | $47,281,663 |
Weokie Federal Credit Union Oklahoma City, OK | $1,024,486,254 | $42,986,888 |
Golden Plains Credit Union Garden City, KS | $831,027,454 | $40,747,458 |
Credit Union Of Denver Lakewood, CO | $1,142,313,148 | $39,919,680 |
Oklahomas Credit Union Oklahoma City, OK | $721,352,699 | $32,235,785 |
Azura Credit Union Topeka, KS | $682,703,343 | $33,958,013 |
Millennium Corporate Credit Union Wichita, KS | $1,676,715,852 | $44,466,623 |