Lge Community Credit Union
- Assets
- $2.0b
- Revenue
- $81.6m
- Investments
- $35.3m
- Employees
- 334
- Location
- Atlanta, GA
- Founding
- 11/2001
- Data as of
- 12/2021
- EIN
- 58-6032554
Organization Overview
Lge Community Credit Union is located in Atlanta, GA. The organization was established in 2001. 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, Lge Community Credit Union employed 334 individuals. Lge 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.
For the year ending 12/2021, Lge Community Credit Union generated $81.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $61.3m during the year ending 12/2021. While expenses have increased by 7.7% 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
PROVIDE SAVINGS AND LENDING ACTIVITIES TO MEMBER OWNERS OF THE COOPERATIVE
Describe the Organization's Program Activity:
Part 3 - Line 4a
INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Leggett President/ceo | Officer | 40 | $702,589 |
Janet C Wagner Svp/cao | Officer | 40 | $385,600 |
Murali Krishnan Svp/cio | Officer | 40 | $326,622 |
Sean Ferrell Svp/cfo | Officer | 40 | $306,947 |
Rodney Grizzle Svp/coo | Officer | 40 | $305,986 |
Collin Kee Financial Advisor | 40 | $253,473 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alkami Technology Online Banking | 12/30/21 | $1,262,476 |
Metro Planning Contractor Svsc. | 12/30/21 | $631,717 |
Go Llc Advertising | 12/30/21 | $562,956 |
Jack Henry Operating System | 12/30/21 | $1,083,234 |
Visa Dpa Debit Processing Service | 12/30/21 | $818,949 |
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 | $75,230,325 |
| Investment income | $6,447,763 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$109,527 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $81,568,561 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $125,000 |
| Grants and other assistance to domestic individuals. | $20,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,263,455 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,065,626 |
| Pension plan accruals and contributions | $2,006,393 |
| Other employee benefits | $5,157,784 |
| Payroll taxes | $1,266,032 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,294 |
| Fees for services: Accounting | $140,053 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,401,024 |
| Advertising and promotion | $1,258,090 |
| Office expenses | $12,366,875 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,515,387 |
| Travel | $256,728 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,271,967 |
| Payments to affiliates | $111,371 |
| Depreciation, depletion, and amortization | $998,310 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $61,338,577 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,095,543 |
| Savings and temporary cash investments | $67,846,360 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,940,954 |
| Loans from Officers, Directors, or Controlling Persons | $12,333,278 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,199,283,579 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,460,543 |
| Net Land, buildings, and equipment | $26,668,684 |
| Investments—publicly traded securities | $531,736,282 |
| Investments—other securities | $35,271,839 |
| Investments—program-related | $0 |
| Intangible assets | $16,216,089 |
| Other assets | $78,741,988 |
| Total assets | $1,989,595,139 |
| Accounts payable and accrued expenses | $36,715,062 |
| 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 | $35,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,708,194,222 |
| Total liabilities | $1,779,909,284 |
| 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 | $209,685,855 |
| Total liabilities and net assets/fund balances | $1,989,595,139 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Georgia's Own Credit Union Atlanta, GA | $3,419,402,865 | $147,500,350 |
Knoxville Tva Employees Credit Unio Knoxville, TN | $3,429,893,801 | $162,152,547 |
Fairwinds Credit Union Orlando, FL | $4,043,048,917 | $164,616,807 |
Robins Financial Credit Union Warner Robins, GA | $3,880,052,195 | $147,788,018 |
State Chartered Credit Unions In Florida Jonesville, FL | $2,692,290,378 | $122,435,815 |
Florida Credit Union Gainesville, FL | $1,449,934,229 | $94,300,981 |
Atlanta Postal Credit Union Atlanta, GA | $2,565,202,791 | $86,141,254 |
Georgia United Credit Union Duluth, GA | $1,880,574,240 | $80,835,681 |
State Chartered Credit Unions In Florida Dunedin, FL | $2,485,154,200 | $95,219,795 |
State Chartered Credit Unions In Florida Jacksonville, FL | $2,430,634,345 | $94,716,587 |
Lge Community Credit Union Atlanta, GA | $1,989,595,139 | $81,568,561 |
Associated Credit Union Norcross, GA | $2,094,343,004 | $74,274,351 |