Members Heritage Credit Union Inc

Organization Overview

Members Heritage Credit Union Inc is located in Lexington, KY. As of 12/2021, Members Heritage Credit Union Inc employed 120 individuals. Members Heritage Credit Union Inc 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, Members Heritage Credit Union Inc generated $17.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $16.0m during the year ending 12/2021. While expenses have increased by 2.0% per year over the past 6 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

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.


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Board, Officers & Key Employees

Name (title)Compensation
Patrick H Ferry
President
$275,664
Sherri Blakeman
VP Of Lending
$151,969
Mike Routt
VP Of Support
$114,520
Dennis Weiskircher
Is Manager
$108,263
Jeffrey Marshall
Controller
$13
Manlus Burton
Treasurer
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Allied Solutions Llc
Loan Insurances
$263,591
Cdw Llc
Software And Tech Services
$103,824
Stoll Keenon & Ogden
Legal Expenses
$269,484
View All Vendors

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$16,656,222
Investment income $897,657
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 $17,553,879

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