Highway District 2 Credit Union

Organization Overview

Highway District 2 Credit Union, operating under the name Hwy District 2 Credit Union, is located in Fort Worth, TX. The organization was established in 1976. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Hwy District 2 Credit Union employed 2 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Hwy District 2 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, Hwy District 2 Credit Union generated $181.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (6.3%) each year. All expenses for the organization totaled $183.7k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.2%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

ENCOURAGING THRIFT, PROVIDING A SOURCE OF CREDIT AT FAIR AND REASONABLE RATE OF INTEREST; PROVIDING OPPORTUNITIES FOR MEMBERS TO USE AND CONTROL THEIR MONEY TO IMPROVE THEIR ECONOMIC CONDITION

Describe the Organization's Program Activity:

Part 3 - Line 4a

SHARE ACCOUNTS-THE HIGHWAY DISTRICT 2 CREDIT UNION SHARE ACCOUNTS OFFER ADVANTAGES TO MEMBERS OF ALL AGES. AS OF DECEMBER 31 2022 THE CREDIT UNION HAS 717 MEMBERS EARNING QUARTERLY DIVIDENDS ON THEIR DEMAND ACCOUNT AT AN AVERAGE OF 0.1737%


CONSUMER LOANS-THE HIGHWAY DISTRICT 2 CREDIT UNION PROVIDES VEHICLE, EQUIPMENT, BOAT, MOTORCYCLE, RECREATIONAL VEHICLES AND PERSONAL LOANS OFFERING RATES COMPETITIVE WITH THE MARKET


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Board, Officers & Key Employees

Name (title)Compensation
Dania Pearson
President/manager
$64,000
Zelma Myers
Board Chairperson
$0
Lisa Stone
Secretary/treasurer
$0
Kysha Holland
Board Director
$0
Charles Crockett
Board Director
$0
Scott Hall
Board 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$118,558
Investment income $62,284
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 $181,187

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