Capitol Credit Union
- Assets
- $196.5m
- Revenue
- $8.2m
- Investments
- $45.7m
- Employees
- 72
- Location
- Austin, TX
- Founding
- 06/1976
- Data as of
- 12/2021
- EIN
- 74-6054885
Organization Overview
Capitol Credit Union is located in Austin, 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, Capitol Credit Union employed 72 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Capitol 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, Capitol Credit Union generated $8.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $7.1m during the year ending 12/2021. While expenses have increased by 6.6% 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
CAPITOL CREDIT UNION EXISTS TO PROVIDE CONVENIENCE TO ITS MEMBERS THROUGH A RANGE OF QUALITY FINANCIAL SERVICES AND PRODUCTS OFFERED AT THE BEST POSSIBLE RATES IN A PROFESSIONAL AND PERSONALIZED MANNER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CAPITOL CREDIT UNION PROVIDES A WIDE RANGE OF SECURED AND UNSECURED LOANS TO ITS MEMBERS FOR CONSUMABLE ITEMS, SUCH AS AUTOS, BOATS, MOTORCYCLES, RVS, HOME EQUITY LOANS AND LINE-OF-CREDITS, SIGNATURE LOANS AND LINE-OF-CREDITS AND SHARE OR SHARE CERTIFICATE.
CAPITOL CREDIT UNION OFFERS MONEY MARKET ACCOUNTS TO ITS MEMBERS. IT PAYS A HIGHER DIVIDEND THAN A TYPICAL SAVINGS OR DEMAND ACCOUNT IF THE MINIMUM AVERAGE MONTHLY BALANCE REQUIREMENT IS MET, BUT WITH THE CAPABILITY OF WRITING A LIMITED NUMBER OF CHECKS.
CAPITOL CREDIT UNION OFFERS CERTIFICATES OF DEPOSIT TO ITS MEMBERS WITH VARYING TERMS AND RATES. THESE INSTRUMENTS ALLOW OUR MEMBERS A SAVINGS ALTERNATIVE THAT PAYS HIGHER DIVIDENDS THAN A TYPICAL SAVINGS OR DEMAND ACCOUNT, BUT WITH NO MARKET RISK EXPOSURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pierre Cardenas CEO | Officer | 40 | $230,778 |
Paul Garcia Cio | Officer | 40 | $144,306 |
Brennan Daniels CFO | Officer | 40 | $138,064 |
Lisa Malesky COO | Officer | 40 | $129,485 |
Joel Bennett Secretary | OfficerTrustee | 1 | $0 |
Karim Hirani Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pravo Construction Construction Services | 12/30/21 | $930,121 |
Integrated Bank Technology Online Banking Provider | 12/30/21 | $371,890 |
Dbsi Incorporate Technology Vendor | 12/30/21 | $437,047 |
Jack Henry & Associates Core Software Service Provider | 12/30/21 | $378,221 |
First Guard Warranty Corporation Ancillary Loan Product Provider | 12/30/21 | $381,423 |
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 | $7,458,374 |
| Investment income | $431,978 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $32,067 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,234,644 |
| 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 | $130,784 |
| Compensation of current officers, directors, key employees. | $642,633 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,326,901 |
| Pension plan accruals and contributions | $52,066 |
| Other employee benefits | $292,306 |
| Payroll taxes | $220,487 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,961 |
| Fees for services: Accounting | $44,956 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $686,520 |
| Advertising and promotion | $128,416 |
| Office expenses | $1,363,022 |
| Information technology | $23,248 |
| Royalties | $0 |
| Occupancy | $319,236 |
| Travel | $30,029 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $70 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $248,174 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $7,057,956 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,823,214 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,760,702 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $137,746,082 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $318,551 |
| Net Land, buildings, and equipment | $5,127,731 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $45,658,970 |
| Investments—program-related | $1,597,221 |
| Intangible assets | $0 |
| Other assets | $479,603 |
| Total assets | $196,512,074 |
| Accounts payable and accrued expenses | $2,458,935 |
| 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 | $170,400,809 |
| Total liabilities | $172,859,744 |
| 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 | $23,652,330 |
| Total liabilities and net assets/fund balances | $196,512,074 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Coastlife Credit Union Corpus Christi, TX | $459,349,679 | $21,652,843 |
Mct Credit Union Port Neches, TX | $363,107,409 | $15,984,837 |
Americas Credit Union Garland, TX | $409,491,001 | $16,218,007 |
First Basin Credit Union Odessa, TX | $306,636,605 | $15,708,343 |
Allegiance Credit Union Oklahoma City, OK | $376,025,043 | $16,187,363 |
Texoma Community Credit Union Wichita Falls, TX | $259,230,472 | $16,333,220 |
Oklahoma Educators Credit Union Oklahoma City, OK | $242,039,953 | $16,355,869 |
Credit Unions In The State Of New Mexico Santa Fe, NM | $252,448,158 | $14,584,670 |
First Central Credit Union Waco, TX | $142,192,635 | $12,212,863 |
Gulf Credit Union Groves, TX | $336,623,302 | $15,838,269 |
Energy Capital Credit Union Houston, TX | $259,660,339 | $11,030,260 |
State Chartered Credit Unions In Louisiana Lake Charles, LA | $153,121,704 | $12,096,894 |