Members Heritage Credit Union Inc is located in Lexington, KY. As of 12/2019, Members Heritage Credit Union Inc employed 120 individuals.
For the year ending 12/2019, Members Heritage Credit Union Inc generated $19.4m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $16.4m during the year ending 12/2019. While expenses have increased by 3.7% per year over the past 4 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THIS CREDIT UNION SHALL BE TO PROMOTE THRIFT AND TO PROVIDE CREDIT TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FINANCIAL SERVICES TO MEMBERS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Patrick H Ferry President | Officer | 40 | $251,811 |
Sherri Blakeman VP Of Lending | 40 | $130,354 | |
Michael S Calton Controller | 40 | $115,146 | |
Mike Routt VP Of Support | 40 | $109,132 | |
Manlus Burton Treasurer | OfficerTrustee | 2 | $0 |
Mike Proctor Secretary | OfficerTrustee | 2 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Stoll Keenon & Ogden Attorney Services | 12/30/19 | $234,553 |
Allied Solutions Loan Insurances | 12/30/19 | $574,999 |
United Healthcare Of Ky Health Insurance | 12/30/19 | $300,353 |
Cdw Llc Technology | 12/30/19 | $236,062 |
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 | $12,668,201 |
Investment income | $1,914,459 |
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 | $19,389,734 |
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. | $618,570 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $4,187,390 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $2,115,812 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $3,117,784 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $441,238 |
Office expenses | $1,325,091 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $588,472 |
Travel | $129,644 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $9,802 |
Interest | $2,105,308 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $16,432,226 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $59,357,571 |
Savings and temporary cash investments | $0 |
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 | $269,784,803 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $4,354,674 |
Investments—publicly traded securities | $0 |
Investments—other securities | $46,827,261 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $6,772,339 |
Total assets | $387,096,648 |
Accounts payable and accrued expenses | $1,020,387 |
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 | $339,211,062 |
Total liabilities | $340,231,449 |
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 | $46,865,199 |
Total liabilities and net assets/fund balances | $387,096,648 |
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