Neighborhood Credit Union

Organization Overview

Neighborhood Credit Union is located in Dallas, 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 12/2019, Neighborhood Credit Union employed 248 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Neighborhood 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, Neighborhood Credit Union generated $51.7m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 12.1% each year . All expenses for the organization totaled $44.4m during the year ending 12/2019. While expenses have increased by 13.0% 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

A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

NEIGHBORHOOD CREDIT UNION PROVIDES A VARIETY OF LOANS INCLUDING AUTO, MORTGAGES, CREDIT CARD, AND UNSECURED AT COMPETITIVE RATES FOR OUR MEMBERSHIP, THEREBY, ASSISTING THEM IN MANAGING THEIR FINANCIAL HEALTH AND GROWTH IN THE FUTURE.


NEIGHBORHOOD CREDIT UNION PROVIDES A VARIETY OF SAVINGS ACCOUNTS INCLUDING SAVINGS, CHECKING, MONEY MARKET, IRAS, CERTIFICATES AND INVESTMENTS AT COMPETITIVE RATES FOR OUR MEMBERSHIP, THEREBY, ASSISTING THEM IN MANAGING THEIR FINANCIAL HEALTH AND GROWTH IN THE FUTURE.


NEIGHBORHOOD CREDIT UNION PROVIDES INVESTMENT OPPORTUNITIES AND PLANNING TO OUR MEMBERSHIP, THEREBY, ASSISTING THEM IN MANAGING THEIR FINANCIAL HEALTH AND GROWTH IN THE FUTURE.


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Board, Officers & Key Employees

Name (title)Compensation
Chester Kimmell
President/ceo
$537,010
James Frankeberger
CFO
$303,231
Carolyn Jordan
Senior VP
$219,481
Jennifer Harrison
Senior VP
$181,404
Yvonne Schmitz
Senior VP
$162,345
Michael Roark
Senior VP
$159,492

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Pscu
Financial Services
$1,503,618
Level 5 Llc
Financial Services
$1,829,763
Jack Henry And Associates
Core Software Systems
$962,314
Intuit Financial Services
Home Banking
$668,929
Kasasa Ltd
Financial Marketing Services
$641,709
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$47,960,758
Investment income $4,058,458
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$366,831
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $51,652,385

Peer Organizations

Organization NameAssets
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$107,654,707
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$92,923,025
First Community Credit Union Of Houston
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$78,841,838
Texas Trust Credit Union
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$71,525,575
Firstmark Credit Union
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$59,445,918
First Service Credit Union
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$51,399,270
State Chartered Credit Unions In Louisiana
Baton Rouge, LA
$48,572,194
Neighborhood Credit Union
Dallas, TX
$51,652,385
Fort Worth Community Credit Union
Bedford, TX
$47,287,563
Velocity Credit Union
Austin, TX
$51,540,286
United Heritage Credit Union
Austin, TX
$48,829,880
Intouch Credit Union
Plano, TX
$42,962,924

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