Fivepoint Credit Union

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.

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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Board, Officers & Key Employees

Name (title)Compensation
Erik Shaw
CEO
$710,071
Kenneth Miller
Executive Vice President
$334,869
Matt Borel
Financial Advisor
$238,998
Jennifer Webb
Svp, Lending
$236,347
Kristen Bellanger
Svp, Operations
$232,281
Vicki Kelley
Svp, Human Resources
$200,339

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Ncr Corporation
Online Banking Services
$1,233,687
Ann Lee And Associates Ltd
Marketing Firm
$1,100,018
Questmark Information Mgmt
Statement Processing Services
$488,685
Allison Nathan Getz Pcc
Property Taxes
$421,678
Pulse Eft
Card Processing
$1,236,722
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$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

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