Texas Trust Credit Union
- Assets
- $2.0b
- Revenue
- $83.5m
- Investments
- $201.3m
- Employees
- 417
- Location
- Arlington, TX
- Founding
- 06/1976
- Data as of
- 12/2022
- EIN
- 75-0763606
Organization Overview
Texas Trust 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 12/2022, Texas Trust Credit Union employed 417 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Texas Trust 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 12/2022, Texas Trust Credit Union generated $83.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $68.4m during the year ending 12/2022. While expenses have increased by 8.1% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING MEMBERS A LIFETIME OF FINANCIAL SERVICES AND MAINTAINING A FINANCIALLY STRONG COOPERATIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INCOME FROM THE CREDIT UNION MEMBERSHIP AND INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charlie Bottorff Director | Trustee | 1 | $0 |
Joe Johnson Director | Trustee | 1 | $0 |
Phillip Martinez Director | Trustee | 1 | $0 |
Bob Mclellan Director | Trustee | 1 | $0 |
Lonnie Morgan Director | Trustee | 1 | $0 |
Charlie Nutt Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dbsi Inc Design Build Technology | 12/30/22 | $1,516,351 |
Cdw Direct It Hardware And Software | 12/30/22 | $1,386,705 |
Lanvera Statement Processing | 12/30/22 | $644,641 |
Jack Henry & Associates Inc Core And Other Critical Systems | 12/30/22 | $1,228,974 |
L Keeley Construction Construction | 12/30/22 | $544,327 |
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 | $76,200,892 |
| Investment income | $6,891,661 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $86,126 |
| Net Gain/Loss on Asset Sales | $314,945 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $83,493,624 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $799,844 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,542,322 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,066,142 |
| Pension plan accruals and contributions | -$2,270,886 |
| Other employee benefits | $1,835,734 |
| Payroll taxes | $1,563,296 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $96,018 |
| Fees for services: Accounting | $162,565 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,126,389 |
| Advertising and promotion | $2,165,630 |
| Office expenses | $1,411,086 |
| Information technology | $1,196,627 |
| Royalties | $0 |
| Occupancy | $1,445,635 |
| Travel | $238,925 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $240,840 |
| Interest | $12,431,085 |
| Payments to affiliates | $19,523 |
| Depreciation, depletion, and amortization | $3,556,313 |
| Insurance | $0 |
| All other expenses | $4,856,482 |
| Total functional expenses | $68,363,171 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,401,515 |
| Savings and temporary cash investments | $121,900,155 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,615,878 |
| Loans from Officers, Directors, or Controlling Persons | $6,814,618 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,555,542,083 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $40,754,490 |
| Net Land, buildings, and equipment | $56,401,718 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $201,279,044 |
| Investments—program-related | $0 |
| Intangible assets | $1,648,708 |
| Other assets | $29,709,786 |
| Total assets | $2,049,067,995 |
| Accounts payable and accrued expenses | $22,158,192 |
| 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 | $295,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,578,174,996 |
| Total liabilities | $1,895,333,188 |
| 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 | $153,734,807 |
| Total liabilities and net assets/fund balances | $2,049,067,995 |