Southern Select Community Credit Union
- Assets
- $33.6m
- Revenue
- $1.9m
- Investments
- $6.0m
- Employees
- 16
- Location
- Kannapolis, NC
- Founding
- Data as of
- 12/2015
- EIN
- 56-6048579
Organization Overview
Southern Select Community Credit Union is located in Kannapolis, NC. As of 12/2015, Southern Select Community Credit Union employed 16 individuals. Southern Select Community Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2015
Describe the Organization's Mission:
Part 3 - Line 1
COMMUNITY CHARTERED CREDIT UNION PROVIDING AFFORDABLE FINACIAL SERVICES AT REASONABLE RATES AND PAYING REASONABLE DIVIDENDS ON DEPOSITS FOR THOSE WITHIN OUR FIELD OF MEMBERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TOTAL MEMBERS: 6,038 TOTAL SHARE DEPOSITS: 29,057,830 TOTAL LOANS: 19,454,919 TOTAL AMOUNT OF LOANS: 1,794
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donie S Parker Board Of Directors, Chairman | Trustee | 0 | $0 |
Wendell Rummage Board Of Directors, Vice Chair | Trustee | 0 | $0 |
Paula Petty Board Of Directors, Treasurer | Trustee | 0 | $0 |
Rita Ellison Board Of Directors | Trustee | 0 | $0 |
Brandon Farabee Board Of Directors | Trustee | 0 | $0 |
Norman Franklin Board Of Directors | Trustee | 0 | $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 | $1,829,335 |
| Investment income | $84,278 |
| 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 | $1,913,613 |
| 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. | $147,278 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $430,445 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $135,884 |
| Advertising and promotion | $19,507 |
| Office expenses | $645,156 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $175,235 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,983 |
| Interest | $57,347 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,844,908 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $537,841 |
| Savings and temporary cash investments | $4,097,673 |
| 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 | $19,357,561 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $71,081 |
| Net Land, buildings, and equipment | $1,229,907 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,976,523 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,354,617 |
| Total assets | $33,625,203 |
| Accounts payable and accrued expenses | $364,916 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $44,494 |
| 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 | $29,013,336 |
| Total liabilities | $29,422,746 |
| 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 | $4,202,457 |