City Credit Union
- Assets
- $597.6m
- Revenue
- $30.5m
- Investments
- $182.9m
- Employees
- 128
- Location
- Dallas, TX
- Founding
- 06/1976
- Data as of
- 12/2021
- 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 12/2021, City Credit Union employed 128 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 12/2021, City Credit Union generated $30.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $26.1m during the year ending 12/2021. While expenses have increased by 4.2% 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
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 35,862 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon Moore President/ceo | Officer | 40 | $555,689 |
Mitchell Clark Cao | Officer | 40 | $288,548 |
John Bailey COO | Officer | 40 | $285,880 |
David Frith Cso | Officer | 40 | $263,247 |
Sallie Horace Cro | Officer | 40 | $235,543 |
Gareth Cada It Manager | 40 | $142,645 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Auto Exam Auto Protection Services | 12/30/21 | $1,269,605 |
Fiserv Technology Services | 12/30/21 | $2,557,262 |
Frost Financial Services Inc Auto Loan Protection Services | 12/30/21 | $343,225 |
Achieva Mortgage Funding Llc Mortgage Funding | 12/30/21 | $300,035 |
Dse Hockey Club Advertising | 12/30/21 | $325,000 |
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 | $27,222,723 |
| Investment income | $2,048,384 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $420,241 |
| 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 | $30,496,787 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,892 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $3,121,039 |
| Compensation of current officers, directors, key employees. | $1,767,755 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,090,403 |
| Pension plan accruals and contributions | $881,928 |
| Other employee benefits | $938,602 |
| Payroll taxes | $424,186 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,045 |
| Fees for services: Accounting | $68,360 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $552,765 |
| Advertising and promotion | $795,179 |
| Office expenses | $782,014 |
| Information technology | $485,131 |
| Royalties | $0 |
| Occupancy | $1,409,168 |
| Travel | $4,028 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $110,949 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $895,271 |
| Insurance | $143,551 |
| All other expenses | $1,347,552 |
| Total functional expenses | $26,111,621 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,078,490 |
| Savings and temporary cash investments | $58,942,735 |
| 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 | $326,202,993 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $812,419 |
| Net Land, buildings, and equipment | $13,454,260 |
| Investments—publicly traded securities | $474,795 |
| Investments—other securities | $182,877,539 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,719,233 |
| Total assets | $597,562,464 |
| Accounts payable and accrued expenses | $9,868,998 |
| 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 | $528,959,620 |
| Total liabilities | $538,828,618 |
| 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 | $58,733,846 |
| Total liabilities and net assets/fund balances | $597,562,464 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ttcu Federal Credit Union Tulsa, OK | $2,611,508,582 | $123,227,030 |
Credit Union Of Texas Allen, TX | $1,777,913,030 | $114,589,686 |
First Community Credit Union Of Houston Houston, TX | $1,964,514,771 | $83,936,302 |
Texas Trust Credit Union Arlington, TX | $1,797,827,251 | $77,667,084 |
Intouch Credit Union Plano, TX | $1,046,983,946 | $47,406,759 |
State Chartered Credit Unions In Louisiana Baton Rouge, LA | $599,377,066 | $59,950,337 |
Firstmark Credit Union San Antonio, TX | $1,229,967,544 | $50,715,745 |
True Sky Credit Union Oklahoma City, OK | $831,301,668 | $47,281,663 |
United Heritage Credit Union Austin, TX | $1,405,950,790 | $55,051,200 |
First Service Credit Union Houston, TX | $855,098,387 | $54,328,304 |
Neighborhood Credit Union Dallas, TX | $1,066,752,639 | $52,511,237 |
Velocity Credit Union Austin, TX | $1,067,927,517 | $65,298,866 |