Cs Credit Union
- Assets
- $32.7m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 9
- Location
- Catawba, NC
- Founding
- 08/1969
- Data as of
- 12/2022
- EIN
- 56-1515386
Organization Overview
Cs Credit Union is located in Catawba, NC. The organization was established in 1969. 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 12/2022, Cs Credit Union employed 9 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Cs 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 12/2022, Cs Credit Union generated $1.3m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FINANCIAL SERVICES TO THE MEMBERS OF THE CREDIT UNION
Describe the Organization's Program Activity:
Part 3 - Line 4a
2,975 MEMBERS PROVIDED WITH FINANCIAL ACCOUNTS TOTALING $28,772,745 IN DEPOSITS.1,886 MEMBER LOANS TOTALING $12,928,260 IN OUTSTANDING LOANS.PROVIDED ELECTRONIC SERVICES TO THESE MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alex Meyer Director | Trustee | 2 | $0 |
Bob Ferber Director | Trustee | 2 | $0 |
Smitty Drum Director | Trustee | 2 | $0 |
Tony Dale Director | Trustee | 2 | $0 |
Rose Sipe Secretary/treasurer | OfficerTrustee | 2 | $0 |
Jean Gay Vice-Chairperson | OfficerTrustee | 2 | $0 |
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 | $879,368 |
| Investment income | $346,881 |
| 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 | $1,302,991 |
| 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. | $143,961 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $317,554 |
| Pension plan accruals and contributions | $27,902 |
| Other employee benefits | $85,181 |
| Payroll taxes | $34,300 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,800 |
| Fees for services: Accounting | $27,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $97,695 |
| Advertising and promotion | $4,298 |
| Office expenses | $13,511 |
| Information technology | $20,100 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,600 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $87,949 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,422 |
| Insurance | $0 |
| All other expenses | $114,491 |
| Total functional expenses | $1,125,919 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,578,331 |
| Savings and temporary cash investments | $175,081 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $79,455 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $12,863,183 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $72,177 |
| Net Land, buildings, and equipment | $22,423 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $13,647,936 |
| Intangible assets | $0 |
| Other assets | $306,001 |
| Total assets | $32,744,587 |
| Accounts payable and accrued expenses | $81,144 |
| 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 | $28,772,745 |
| Total liabilities | $28,853,889 |
| 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 | $3,890,698 |
| Total liabilities and net assets/fund balances | $32,744,587 |