City Credit Union
- Assets
- $676.7m
- Revenue
- $36.5m
- Investments
- $171.7m
- Employees
- 132
- Location
- Dallas, TX
- Founding
- 06/1976
- Data as of
- 12/2023
- EIN
- 75-0692281
Organization Overview
City 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 12/2023, City Credit Union employed 132 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. City 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 12/2023, City Credit Union generated $36.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $33.1m during the year ending 12/2023. While expenses have increased by 6.0% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
A COOPERATIVE THRIFT INSTITUTION AND A MEMBER OF THE NATIONAL CREDIT UNION ADMINISTRATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED LOANS, DEPOSIT ACCOUNTS AND OTHER FINANCIAL PRODUCTS AND SERVICES TO 35,381 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon Moore President/ceo | Officer | 40 | $812,392 |
Mitchell Clark Cao | Officer | 40 | $366,507 |
John Bailey COO | Officer | 40 | $350,841 |
David Frith Cso | Officer | 40 | $324,777 |
Sallie Horace Cro | Officer | 40 | $317,461 |
Garreth Cada Senior It Manager | 40 | $157,246 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fiserv Technology Services | 12/30/23 | $3,109,130 |
Auto Exam Auto Protection Services | 12/30/23 | $986,438 |
Achieva Mortgage Mortgage Loan Funding Service | 12/30/23 | $486,336 |
Tys Creative Inc Online Marketing Services | 12/30/23 | $291,780 |
At&t Telephone Services | 12/30/23 | $288,473 |
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 | $31,210,316 |
| Investment income | $4,867,111 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $468,613 |
| 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 | $36,546,040 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,036 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $7,253,954 |
| Compensation of current officers, directors, key employees. | $2,333,544 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,144,442 |
| Pension plan accruals and contributions | $762,306 |
| Other employee benefits | $1,269,676 |
| Payroll taxes | $549,170 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $110,008 |
| Fees for services: Accounting | $100,283 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $708,669 |
| Advertising and promotion | $822,453 |
| Office expenses | $842,064 |
| Information technology | $459,356 |
| Royalties | $0 |
| Occupancy | $962,009 |
| Travel | $5,000 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $201,783 |
| Interest | $4,899 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $832,783 |
| Insurance | $133,256 |
| All other expenses | $1,604,982 |
| Total functional expenses | $33,076,310 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,793,319 |
| Savings and temporary cash investments | $99,086,373 |
| 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 | $381,291,821 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $809,869 |
| Net Land, buildings, and equipment | $11,199,099 |
| Investments—publicly traded securities | $655,269 |
| Investments—other securities | $171,657,768 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,242,287 |
| Total assets | $676,735,805 |
| Accounts payable and accrued expenses | $10,441,749 |
| 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 | $598,909,273 |
| Total liabilities | $609,351,022 |
| 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 | $67,384,783 |
| Total liabilities and net assets/fund balances | $676,735,805 |