Metro Employees Credit Union
- Assets
- $43.8m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 14
- Location
- Lexington, KY
- Founding
- 10/1944
- Data as of
- 12/2021
- EIN
- 61-0599249
Organization Overview
Metro Employees Credit Union is located in Lexington, KY. The organization was established in 1944. 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, Metro Employees Credit Union employed 14 individuals. This organization is the central organization for a national or regional group of organizations. Metro Employees 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, Metro Employees Credit Union generated $2.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $1.8m during the year ending 12/2021. While expenses have increased by 4.4% 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
METRO EMPLOYEES 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 |
|---|---|---|---|
Piper Graham President/chief Executive Officer | Officer | 40 | $117,494 |
John Gosper Chairperson Of The Board | Trustee | 1 | $0 |
Carolyn Smith Vice Chairperson Of The Board | Trustee | 1 | $0 |
Ed Givens Treasurer | Trustee | 1 | $0 |
Lindsay Luker Curd Secretary | Trustee | 1 | $0 |
Pat Tatum Director | Trustee | 1 | $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 | $1,977,388 |
| Investment income | $68,501 |
| 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 | $2,045,889 |
| 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. | $117,494 |
| Compensation of current officers, directors, key employees. | $117,494 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $525,356 |
| Pension plan accruals and contributions | $31,853 |
| Other employee benefits | $93,284 |
| Payroll taxes | $45,653 |
| Fees for services: Management | $17,611 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $34,001 |
| Fees for services: Other | $0 |
| Advertising and promotion | $35,383 |
| Office expenses | $101,226 |
| Information technology | $185,563 |
| Royalties | $0 |
| Occupancy | $48,535 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,027 |
| Interest | $118,507 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $35,188 |
| Insurance | $23,282 |
| All other expenses | $16,300 |
| Total functional expenses | $1,798,016 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $560,417 |
| Savings and temporary cash investments | $6,355,286 |
| 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 | $21,876,013 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $85,033 |
| Net Land, buildings, and equipment | $123,167 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $13,782,036 |
| Intangible assets | $0 |
| Other assets | $1,056,377 |
| Total assets | $43,838,329 |
| Accounts payable and accrued expenses | $488,265 |
| 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 | $38,799,212 |
| Total liabilities | $39,287,477 |
| 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 | $4,550,852 |
| Total liabilities and net assets/fund balances | $43,838,329 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Illinois Community Credit Union Champaign, IL | $475,743,912 | $22,792,231 |
Memphis City Employees Credit Union Memphis, TN | $441,662,639 | $21,190,840 |
Land Of Lincoln Credit Union Decatur, IL | $357,439,691 | $20,389,555 |
Siu Credit Union Carbondale, IL | $404,439,735 | $19,509,001 |
Oucu Financial Credit Union Inc Athens, OH | $474,537,170 | $21,539,633 |
Healthcare Associates Credit Union Naperville, IL | $470,519,753 | $19,024,406 |
Cornerstone Financial Credit Union Nashville, TN | $522,943,459 | $21,028,853 |
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 |