Expree Credit Union
- Assets
- $92.4m
- Revenue
- $5.6m
- Investments
- $0.0
- Employees
- 31
- Location
- Frankfort, KY
- Founding
- 10/1985
- Data as of
- 12/2021
- EIN
- 61-0245487
Organization Overview
Expree Credit Union is located in Frankfort, KY. The organization was established in 1985. 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, Expree Credit Union employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Expree 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, Expree Credit Union generated $5.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $4.8m during the year ending 12/2021. While expenses have increased by 2.3% 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
EXPREE CREDIT UNION IS A FINANCIAL INSTITUTION COOPERATIVE ORGANIZED TO PROVIDE LOAN AND DEPOSIT PRODUCTS AND SERVICES TO ITS MEMBER OWNERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS A STATE CHARTERED MEMBER OWNED COOPERATIVE CREDIT UNION THAT PROVIDES FINANCIAL SERVICES AND PRODUCTS TO THE MEMBER OWNERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Graham President / Chief Executive Officer | Officer | 40 | $181,264 |
Myron Moore Chief Compliance Officer | Officer | 40 | $133,562 |
Ashley Mixson Vice Chairperson Of Board | Trustee | 2 | $0 |
Scott Mckenzie Director | Trustee | 2 | $0 |
Dr Abdul Turay Treasurer | Trustee | 2 | $0 |
James Mason Director | Trustee | 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 | $5,391,998 |
| Investment income | $213,043 |
| 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 | $5,605,041 |
| 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. | $314,827 |
| Compensation of current officers, directors, key employees. | $314,827 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,079,887 |
| Pension plan accruals and contributions | $75,319 |
| Other employee benefits | $201,104 |
| Payroll taxes | $107,354 |
| Fees for services: Management | $32,677 |
| Fees for services: Legal | $1,463 |
| Fees for services: Accounting | $28,573 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $29,234 |
| Fees for services: Other | $100,552 |
| Advertising and promotion | $321,679 |
| Office expenses | $152,711 |
| Information technology | $341,245 |
| Royalties | $0 |
| Occupancy | $93,269 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $28,901 |
| Interest | $571,251 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $182,846 |
| Insurance | $33,351 |
| All other expenses | $27,106 |
| Total functional expenses | $4,771,152 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $546,518 |
| Savings and temporary cash investments | $11,325,184 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $60 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $53,789,051 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $801,421 |
| Net Land, buildings, and equipment | $1,924,456 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $20,627,812 |
| Intangible assets | $0 |
| Other assets | $3,424,217 |
| Total assets | $92,438,719 |
| Accounts payable and accrued expenses | $775,726 |
| 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 | $1,161,942 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $81,896,522 |
| Total liabilities | $83,834,190 |
| 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 | $8,604,529 |
| Total liabilities and net assets/fund balances | $92,438,719 |
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| Organization Name | Assets | Revenue |
|---|---|---|
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Memphis City Employees Credit Union Memphis, TN | $441,662,639 | $21,190,840 |
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Healthcare Associates Credit Union Naperville, IL | $470,519,753 | $19,024,406 |
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Financial Plus Credit Union Ottawa, IL | $450,128,379 | $18,435,940 |
0197 Universal 1 Credit Union Inc Dayton, OH | $475,826,892 | $18,974,323 |
River Valley Credit Union Inc Miamisburg, OH | $417,823,521 | $18,188,326 |
Streator Onized Credit Union Streator, IL | $322,868,914 | $20,466,912 |
Arsenal Credit Union Arnold, MO | $349,876,786 | $18,878,245 |