Fivepoint Credit Union
- Assets
- $672.4m
- Revenue
- $43.7m
- Investments
- $0.0
- Employees
- 206
- Location
- Nederland, TX
- Founding
- 06/1976
- Data as of
- 12/2019
- EIN
- 74-1109889
Organization Overview
Fivepoint Credit Union is located in Nederland, TX. The organization was established in 1976. According to its NTEE Classification (O51) the organization is classified as: Youth Community Service Clubs, under the broad grouping of Youth Development and related organizations. As of 12/2019, Fivepoint Credit Union employed 206 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Fivepoint 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 12/2019, Fivepoint Credit Union generated $43.7m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $40.1m during the year ending 12/2019. While expenses have increased by 4.9% per year over the past 5 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
TO PROVIDE FINANCIAL SERVICES TO OUR MEMBERSHIP WITH VARIOUS LOAN AND DEPOSIT PRODUCTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INTEREST PAID ON MEMBERS' DEPOSITS APPROXIMATED $4,800,000 DURING THE YEAR ENDED DECEMBER 31, 2019.
ATM SERVICES PROVIDED TO THE MEMBERSHIP REPRESENTED $2,836,167 OF TOTAL EXPENSES.
HOME BANKING SERVICES PROVIDED TO THE MEMBERSHIP REPRESENTED A COST OF APPROXIMATELY $987,200 DURING THE YEAR ENDED DECEMBER 31, 2019.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erik Shaw CEO | OfficerTrustee | 40 | $710,071 |
Kenneth Miller Executive Vice President | Officer | 40 | $334,869 |
Matt Borel Financial Advisor | Officer | 40 | $238,998 |
Jennifer Webb Svp, Lending | Officer | 40 | $236,347 |
Kristen Bellanger Svp, Operations | Officer | 40 | $232,281 |
Vicki Kelley Svp, Human Resources | Officer | 40 | $200,339 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ncr Corporation Online Banking Services | 12/30/19 | $1,233,687 |
Ann Lee And Associates Ltd Marketing Firm | 12/30/19 | $1,100,018 |
Questmark Information Mgmt Statement Processing Services | 12/30/19 | $488,685 |
Allison Nathan Getz Pcc Property Taxes | 12/30/19 | $421,678 |
Pulse Eft Card Processing | 12/30/19 | $1,236,722 |
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 | $41,433,237 |
| Investment income | $2,172,892 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,200 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $43,663,158 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $335,022 |
| Grants and other assistance to domestic individuals. | $12,525 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,086,460 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,976,466 |
| Pension plan accruals and contributions | $576,016 |
| Other employee benefits | $2,218,714 |
| Payroll taxes | $894,865 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $376,198 |
| Fees for services: Accounting | $27,898 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $651,228 |
| Advertising and promotion | $1,253,206 |
| Office expenses | $1,650,174 |
| Information technology | $2,233,150 |
| Royalties | $0 |
| Occupancy | $1,289,230 |
| Travel | $192,865 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,201 |
| Interest | $4,740,294 |
| Payments to affiliates | $111,330 |
| Depreciation, depletion, and amortization | $2,350,431 |
| Insurance | $276,169 |
| All other expenses | $997,615 |
| Total functional expenses | $40,133,358 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,705,931 |
| Savings and temporary cash investments | $75,346,931 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $185,303 |
| Loans from Officers, Directors, or Controlling Persons | $7,647,922 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $496,093,031 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,023,291 |
| Net Land, buildings, and equipment | $26,038,778 |
| Investments—publicly traded securities | $33,881,108 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $193,139 |
| Other assets | $19,259,126 |
| Total assets | $672,374,560 |
| Accounts payable and accrued expenses | $4,597,396 |
| 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 | $592,736,446 |
| Total liabilities | $597,333,842 |
| 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 | $75,040,718 |
| Total liabilities and net assets/fund balances | $672,374,560 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fivepoint Credit Union Nederland, TX | $672,374,560 | $43,663,158 |
Leadership Austin Austin, TX | $529,617 | $1,328,040 |
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