Craig Credit Union
- Assets
- $12.2m
- Revenue
- $619.4k
- Investments
- $0.0
- Employees
- 7
- Location
- Selma, AL
- Founding
- Data as of
- 12/2017
- EIN
- 63-0384036
Organization Overview
Craig Credit Union is located in Selma, AL. As of 12/2017, Craig Credit Union employed 7 individuals. Craig 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 12/2017, Craig Credit Union generated $619.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (6.4%) each year. All expenses for the organization totaled $703.5k during the year ending 12/2017. As we would expect to see with falling revenues, expenses have declined by (19.9%) per year over the past 3 years. 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
5,735 MEMBERS SERVED TO PROMOTE THRIFT OPPORTUNITIES AND LOW COST LOANS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pamela Mcilwain CEO & Treasurer | OfficerTrustee | 40 | $66,002 |
Joyce Canada Board Member-Chairperson | Trustee | 0.5 | $0 |
Ken Roberts Board Member- Vice Chair | Trustee | 0.5 | $0 |
Barney Morgan Board Member | Trustee | 0.5 | $0 |
Vlencon Brown Board Member | Trustee | 0.5 | $0 |
Dorman Robinson Board Member | Trustee | 0.5 | $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 | $338,641 |
| Investment income | $76,245 |
| 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 | $619,369 |
| 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. | $151,482 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $70,913 |
| Pension plan accruals and contributions | $14,243 |
| Other employee benefits | $27,502 |
| Payroll taxes | $15,256 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,642 |
| Fees for services: Accounting | $7,608 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,056 |
| Advertising and promotion | $12,344 |
| Office expenses | $133,166 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $23,920 |
| Travel | $4,972 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,112 |
| Interest | $8,207 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $28,671 |
| Insurance | $13,360 |
| All other expenses | $3,319 |
| Total functional expenses | $703,499 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $357,166 |
| Savings and temporary cash investments | $7,936,437 |
| 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 | $3,448,387 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $298,741 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $136,830 |
| Total assets | $12,177,561 |
| Accounts payable and accrued expenses | $27,144 |
| 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 | $10,620,786 |
| Total liabilities | $10,647,930 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $1,529,631 |