Libertyone Credit Union

Organization Overview

Libertyone Credit Union is located in Arlington, 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, Libertyone Credit Union employed 35 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Libertyone 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, Libertyone Credit Union generated $6.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $5.0m during the year ending 12/2021. While expenses have increased by 1.9% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

LIERTY ONE SEEKS TO BE OUR MEMBERS PRIMARY FINANCIAL INSTITUTION

Describe the Organization's Program Activity:

Part 3 - Line 4a

LIBERTYONE CREDIT UNION PROVIDES AUTOMOBILE LOANS TO ITS MEMBERS AND WE STRIVE TO KEEP OUR RATES LOWER THAN BANKS OR OTHER FINANCIAL INSTITUTIONS. AS OF DECEMBER 31, 2017 THE CREDIT UNION HAD 8,497 MEMBERS, WITH A TOTAL OF 2,708 AUTO LOANS, CARRYING AN OUTSTANDING BALANCE OF $46,629,528.


LIBERTYONE CREDIT UNION PROVIDES 1ST MORTGAGES TO ITS MEMBERS THROUGH A THIRD PARTY SEVICE PROVIDER. HOWVER, WE TAKE .25% OFF THE QUOTED RATE IN AN EFFORT TO HELP OUR MEMBERS. AS OF DECEMBER 31, 2017 THE CREDIT UNION HAD 123 1ST MORTGAGES WITH AN OUTSTANDING BALANCE OF $14,872,633.


LIBERTYONE CREDIT UNION PROVIDES CERTIFICATES OF DEPOSITS TO ITS MEMBERS AT HIGHER THAN MARKET RATES. AS OF DECEMBER 31, 2017 THE CREDIT UNION HAD 1,279 CERTIFICATES OF DEPOSIT WITH A CARRYING BALANCE OF $39,165,885.


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Board, Officers & Key Employees

Name (title)Compensation
Mike Funk
President
$184,334
Charles Ramirez
Vice Chair
$0
Don Rawe
Treasurer
$0
Linda Kunze
Secretary
$0
Jacqueline Dixon
Chairman
$0
Steve Hammonds
Director
$0

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$6,024,916
Investment income $413,027
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $6,437,943

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