Millennium Corporate Credit Union
- Assets
- $1.7b
- Revenue
- $44.5m
- Investments
- $74.2m
- Employees
- 26
- Location
- Wichita, KS
- Founding
- 05/1952
- Data as of
- 12/2021
- EIN
- 48-0615845
Organization Overview
Millennium Corporate Credit Union is located in Wichita, KS. The organization was established in 1952. 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, Millennium Corporate Credit Union employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Millennium Corporate 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, Millennium Corporate Credit Union generated $44.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 31.8% each year . All expenses for the organization totaled $23.1m during the year ending 12/2021. While expenses have increased by 23.7% 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
MILLENNIUM CORPORATE CREDIT UNION (MILLENNIUM CORPORATE) SERVES AS A FINANCIAL INTERMEDIARY FOR THE CREDIT UNIONS WHICH COMPRISE ITS MEMBERSHIP, AND ITS ACTIVITIES ARE DIRECTED TO THE SUPPORT OF THAT INTERDEPENDENT GROUP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MILLENNIUM CORPORATE, NON-PROFIT, INCORPORATED UNDER KANSAS STATUTES FOR THE PURPOSES OF PROVIDING CORRESPONDENT SERVICES, ASSET-LIABILITY MANAGEMENT ANALYSIS AND INVESTMENTS TO MEMBER CREDIT UNIONS WHO IN TURN SERVE THEIR MEMBERS (INDIVIDUAL CUSTOMERS) BY CREATING A SOURCE OF CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST AND PROVIDING OTHER PRODUCTS AND SERVICES TO IMPROVE MEMBERS' ECONOMIC AND SOCIAL CONDITIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry D Eisenhauer President/ceo | Officer | 50 | $227,222 |
Walter G Thompson Aim Manager & Sr Financial Analyst | 50 | $205,014 | |
Brady H Mcleod Aim Manager & Sr Financial Analyst | 50 | $203,940 | |
Kent R Gleason Executive Vice President/coo | Officer | 50 | $185,268 |
Kathleen M Gray Cheif Financial Officer | Officer | 50 | $135,317 |
Julie A Chapin Aim Sr Financial Analyst | 50 | $114,944 |
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 | $6,094,013 |
| Investment income | $5,014,173 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| 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 | $44,466,623 |
| 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. | $642,303 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,893,948 |
| Pension plan accruals and contributions | $78,993 |
| Other employee benefits | $269,476 |
| Payroll taxes | $164,517 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $65,263 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $729,255 |
| Advertising and promotion | $150,574 |
| Office expenses | $326,732 |
| Information technology | $2,254,209 |
| Royalties | $0 |
| Occupancy | $151,356 |
| Travel | $51,374 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,567,296 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $108,191 |
| Insurance | $105,249 |
| All other expenses | $0 |
| Total functional expenses | $23,123,303 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,953,561 |
| Savings and temporary cash investments | $898,498,748 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,276,649 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $672,120 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $184,827 |
| Net Land, buildings, and equipment | $1,583,980 |
| Investments—publicly traded securities | $680,496,815 |
| Investments—other securities | $74,207,400 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $841,752 |
| Total assets | $1,676,715,852 |
| Accounts payable and accrued expenses | $887,645 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $200,163 |
| Total liabilities | $1,087,808 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,576,562,679 |
| Paid-in or capital surplus, or land, building, or equipment fund | $54,208,507 |
| Retained earnings, endowment, accumulated income, or other funds | $44,856,858 |
| Total liabilities and net assets/fund balances | $1,676,715,852 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Oklahoma Central Credit Union Tulsa, OK | $713,131,238 | $26,539,012 |
Liberty First Credit Union Lincoln, NE | $400,479,429 | $27,721,129 |
Heartland Credit Union Hutchinson, KS | $477,723,732 | $30,631,369 |
Sooper Credit Union Arvada, CO | $541,418,878 | $25,522,076 |