Navy Army Community Credit Union
- Assets
- $4.0b
- Revenue
- $216.7m
- Investments
- $2.2m
- Employees
- 792
- Location
- Corpus Christi, TX
- Founding
- 06/1976
- Data as of
- 12/2021
- EIN
- 74-1237070
Organization Overview
Navy Army Community Credit Union is located in Corpus Christi, TX. The organization was established in 1976. 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, Navy Army Community Credit Union employed 792 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Navy Army Community 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, Navy Army Community Credit Union generated $216.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $154.2m during the year ending 12/2021. While expenses have increased by 5.7% 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
TO MEET THE FINANCIAL NEEDS AND GOALS OF OUR MEMBERS. PROVIDE SAVINGS, SHARE DRAFT AND SHARE CERTIFICATE ACCOUNTS AND AUTO, CONSUMER AND COMMERCIAL LOANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NAVY ARMY COMMUNITY CREDIT UNION IS A COOPERATIVE, MEMBER-OWNED, NON-PROFIT PROVIDER OF FINANCIAL SERVICES TO MEMBERS. WE PROVIDE AUTO, HOME AND BUSINESS LOANS TO THE COMMUNITY. AS OF DECEMBER 31, 2021, THE TOTAL NUMBER OF LOANS ISSUED WAS 124,525 AND THE TOTAL OUTSTANDING BALANCE OF LOANS ISSUED WAS $3,133,415,517.
NAVY ARMY COMMUNITY CREDIT UNION PROVIDES DEPOSIT ACCOUNTS TO MEMBERS. AS OF DECEMBER 31, 2021, THE TOTAL NUMBER OF MEMBERS WAS 211,869 WITH THE TOTAL NUMBER OF DEPOSIT ACCOUNTS ISSUED OF 380,052 AND TOTAL OUTSTANDING BALANCE OF DEPOSIT ACCOUNTS IN THE AMOUNT OF $3,692,145.10.
NAVY ARMY COMMUNITY CREDIT UNION ALSO PROVIDES ATM & ITM ACCESS TO MEMBERS. DURING 2021, THE TOTAL NUMBER OF ATM & ITM TRANSACTIONS FOR OUR MEMBERS AT OUR MACHINES TOTALED 1,774,814.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerry Morrow President/ceo | Officer | 40 | $810,480 |
Dana Sisk Executive Vice President | Officer | 40 | $477,130 |
Shannon Srp Chief Technology Officer | Officer | 40 | $389,221 |
Daniel Dibble Chief Lending Officer Cons | Officer | 40 | $276,899 |
Cynthia Ramos Chief Operations Officer | Officer | 40 | $258,880 |
Roman Escobar Chief Real Estate Officer | Officer | 40 | $250,960 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Anderson Lehrman Barre Maraist Llp Professional Services | 12/30/21 | $501,419 |
Trident Services Professional Services | 12/30/21 | $828,382 |
Morehead Dotts Rybak Professional Services | 12/30/21 | $2,038,993 |
Lanvera Professional Services | 12/30/21 | $1,415,066 |
Noble Texas Builders Llc Construction | 12/30/21 | $5,513,499 |
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 | $215,837,971 |
| Investment income | $771,669 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $131,741 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $216,741,381 |
| 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 | $44,245,274 |
| Compensation of current officers, directors, key employees. | $3,953,454 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $31,024,413 |
| Pension plan accruals and contributions | $3,489,992 |
| Other employee benefits | $5,884,961 |
| Payroll taxes | $2,609,631 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $808,722 |
| Fees for services: Accounting | $210,979 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,180,463 |
| Advertising and promotion | $2,620,415 |
| Office expenses | $5,792,316 |
| Information technology | $7,418,710 |
| Royalties | $0 |
| Occupancy | $4,159,445 |
| Travel | $150,852 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $485,611 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,965,539 |
| Insurance | $440,534 |
| All other expenses | $0 |
| Total functional expenses | $154,198,303 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $678,347,276 |
| Savings and temporary cash investments | $0 |
| 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 | $3,196,435,009 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,380,224 |
| Net Land, buildings, and equipment | $73,844,977 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,152,344 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $89,036,198 |
| Total assets | $4,042,196,028 |
| Accounts payable and accrued expenses | $36,217,214 |
| 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 | $3,575,688,136 |
| Total liabilities | $3,611,905,350 |
| 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 | $430,290,678 |
| Total liabilities and net assets/fund balances | $4,042,196,028 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Texas Dow Employees Credit Union Lake Jackson, TX | $4,542,030,485 | $289,213,501 |
Navy Army Community Credit Union Corpus Christi, TX | $4,042,196,028 | $216,741,381 |
Ttcu Federal Credit Union Tulsa, OK | $2,611,508,582 | $123,227,030 |
Credit Union Of Texas Allen, TX | $1,777,913,030 | $114,589,686 |
First Community Credit Union Of Houston Houston, TX | $1,964,514,771 | $83,936,302 |
Texas Trust Credit Union Arlington, TX | $1,797,827,251 | $77,667,084 |
Intouch Credit Union Plano, TX | $1,046,983,946 | $47,406,759 |
State Chartered Credit Unions In Louisiana Baton Rouge, LA | $599,377,066 | $59,950,337 |
Firstmark Credit Union San Antonio, TX | $1,229,967,544 | $50,715,745 |
True Sky Credit Union Oklahoma City, OK | $831,301,668 | $47,281,663 |
United Heritage Credit Union Austin, TX | $1,405,950,790 | $55,051,200 |
First Service Credit Union Houston, TX | $855,098,387 | $54,328,304 |