Texas Dow Employees Credit Union is located in Lake Jackson, 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 12/2018, Texas Dow Employees Credit Union employed 957 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Texas Dow Employees 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, Texas Dow Employees Credit Union generated $249.3m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $223.9m during the year ending 12/2019. While expenses have increased by 7.6% 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
INCREASE ECONOMIC WELL-BEING OF OUR MEMBERS THROUGH NOT-FOR-PROFIT, COOPERATIVE FINANCIAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TDECU IS A NOT-FOR-PROFIT FINANCIAL COOPERATIVE WITH MORE THAN 303,418 MEMBERS. TDECU CURRENTLY HAS 35 MEMBER SERVICE LOCATIONS, AND OFFERS A COMPLETE SELECTION OF CONVENIENT AND COMPETITIVE PRODUCTS AND SERVICES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Stephanie Sherrodd President | Officer | 40 | $1,190,855 |
Rhonda Pavlicek Senior VP & CFO | Officer | 40 | $486,085 |
Milton Stevens Senior Vp- Retail Lending | Officer | 40 | $421,660 |
Wesley Garner Pres - Wealth Management | Officer | 40 | $360,128 |
Charles Smith Senior VP & Clo | Officer | 40 | $337,903 |
Courtland Crouchet Senior VP - Cro | Officer | 40 | $329,208 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Lanvera Ltd Monthly Notices/forms/estatements | 12/30/18 | $2,090,422 |
Bucees Fuel Discounts/cc Interchange/atm Transa | 12/30/18 | $1,604,030 |
Pscu Member Care Call Center, Online Banking | 12/30/18 | $5,334,957 |
Visa Usa Visa Monthly Billing, Debit Card Fees | 12/30/18 | $4,884,423 |
Vantivworld Pay Vantiv Statement Processing Fees | 12/30/18 | $2,918,456 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
Investment income | $3,952,064 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $474,557 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $249,289,906 |
Statement of Expenses | |
---|---|
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. | $5,605,212 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $47,789,239 |
Pension plan accruals and contributions | $2,256,907 |
Other employee benefits | $10,213,867 |
Payroll taxes | $3,942,948 |
Fees for services: Management | $0 |
Fees for services: Legal | $838,493 |
Fees for services: Accounting | $423,910 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $14,254,243 |
Advertising and promotion | $7,594,763 |
Office expenses | $6,970,210 |
Information technology | $1,502,041 |
Royalties | $0 |
Occupancy | $7,306,439 |
Travel | $2,233,775 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $31,031,231 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $8,452,494 |
Insurance | $677,812 |
All other expenses | $0 |
Total functional expenses | $223,922,268 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $12,099,242 |
Savings and temporary cash investments | $295,841,402 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $3,343,425 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $3,143,007,107 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $20,048,702 |
Investments—program-related | $0 |
Intangible assets | $11,542,156 |
Other assets | $69,816,811 |
Total assets | $3,609,955,686 |
Accounts payable and accrued expenses | $79,553,616 |
Grants payable | $0 |
Deferred revenue | $307,475 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $14,106,734 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $260,567,542 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $2,938,597,496 |
Total liabilities | $3,293,132,863 |
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 |
Total liabilities and net assets/fund balances | $316,822,823 |
Organization Name | Assets | Revenue |
---|---|---|
Texas Dow Employees Credit Union Lake Jackson, TX | $3,609,955,686 | $249,289,906 |
Navy Army Community Credit Union Corpus Christi, TX | $3,263,904,258 | $192,613,593 |
Ttcu Federal Credit Union Tulsa, OK | $2,019,744,867 | $107,654,707 |
Credit Union Of Texas Allen, TX | $1,393,394,999 | $92,923,025 |
First Community Credit Union Of Houston Houston, TX | $1,792,099,234 | $78,841,838 |
Texas Trust Credit Union Arlington, TX | $1,344,628,631 | $71,525,575 |
Firstmark Credit Union San Antonio, TX | $1,020,010,997 | $59,445,918 |
First Service Credit Union Houston, TX | $759,318,816 | $51,399,270 |
State Chartered Credit Unions In Louisiana Baton Rouge, LA | $396,477,801 | $48,572,194 |
Neighborhood Credit Union Dallas, TX | $810,062,773 | $51,652,385 |
Fort Worth Community Credit Union Bedford, TX | $1,001,618,613 | $47,287,563 |
Velocity Credit Union Austin, TX | $849,082,564 | $51,540,286 |