Old Hickory Credit Union
- Assets
- $340.3m
- Revenue
- $14.8m
- Investments
- $50.3m
- Employees
- 103
- Location
- Old Hickory, TN
- Founding
- 06/1952
- Data as of
- 12/2022
- EIN
- 62-6040210
Organization Overview
Old Hickory Credit Union is located in Old Hickory, TN. The organization was established in 1952. 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 12/2022, Old Hickory Credit Union employed 103 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Old Hickory 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 12/2022, Old Hickory Credit Union generated $14.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $12.8m during the year ending 12/2022. While expenses have increased by 3.3% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVISION OF CREDIT UNION SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREDIT UNION
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bonnette Dawson CEO | Officer | 45 | $150,000 |
Diane Bass Director | Trustee | 5 | $0 |
Ron Berthold Secretary | Trustee | 5 | $0 |
Stacy Bowers Director | Trustee | 5 | $0 |
Mark Branstetter Investments | Trustee | 5 | $0 |
Teresa Crosslin Treasurer | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hodges Group Construction | 12/30/22 | $289,072 |
Amstrong Pro Tech Atm Servicing | 12/30/22 | $189,545 |
Jack Henry And Associates Computers | 12/30/22 | $1,407,948 |
Your Marketing Co Marketing | 12/30/22 | $145,575 |
Xdi Statement Vndr | 12/30/22 | $125,189 |
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 | $11,996,378 |
| Investment income | $712,134 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$12,040 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,832,560 |
| 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. | $650,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,776,686 |
| Pension plan accruals and contributions | $142,778 |
| Other employee benefits | $619,984 |
| Payroll taxes | $342,208 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,372 |
| Fees for services: Accounting | $53,940 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $87,609 |
| Advertising and promotion | $307,409 |
| Office expenses | $3,129,665 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,081,311 |
| Travel | $86,088 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $154,433 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $46,927 |
| Total functional expenses | $12,806,714 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,571,795 |
| Savings and temporary cash investments | $18,720,193 |
| 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 | $247,613,880 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $15,014,700 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $50,250,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,148,657 |
| Total assets | $340,319,225 |
| Accounts payable and accrued expenses | $19,388,746 |
| 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 | $295,782,254 |
| Total liabilities | $315,171,000 |
| 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 | $25,148,225 |
| Total liabilities and net assets/fund balances | $340,319,225 |