Intouch Credit Union

Organization Overview

Intouch Credit Union is located in Plano, 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 12/2020, Intouch Credit Union employed 221 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Intouch 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 12/2020, Intouch Credit Union generated $43.0m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $38.0m during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (0.5%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

THE CREDIT UNION IS A MEMBER OWNED COOPERATIVE FINANCIAL INSTITUTION THAT PROVIDES LENDING AND DEPOSIT SERVICES TO ITS MEMBERSHIP.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE CREDIT UNION GRANTS AUTO, REAL ESTATE, CREDIT CARD LOANS ALONG WITH OTHER LENDING ACTIVITIES TO ITS MEMBERS. IN 2020 THE CREDIT UNION GRANTED $306 MILLION IN LOANS AND LEASES TO ITS MEMBERS.


THE CREDIT UNION PROVIDES MULTIPLE TYPES OF DEPOSIT PRODUCTS AND SERVICES TO ITS MEMBERS, INCLUDING SAVINGS, CHECKING, MONEY MARKET AND CERTIFICATES OF DEPOSIT. THE CREDIT UNION HELD $776 MILLION OF DEPOSITS FOR ITS 89,364 MEMBERS AS OF DECEMBER 31, 2020. THE CREDIT UNION OPENED 4,777 NEW MEMBERSHIPS IN 2020. EXCESS DEPOSITS NOT USED FOR LENDING PURPOSES ARE USED TO PURCHASE INVESTMENTS IN ORDER TO GENERATE INVESTMENT INTEREST INCOME AND RELATED INVESTMENT GAINS AND/OR LOSSES ON INVESTMENT SALES.


THE CREDIT UNION PROVIDES A MULTITUDE OF DELIVERY AND SERVICE SUPPORT OPTIONS TO ITS MEMBERSHIP. THE CREDIT UNION ENDED 2020 WITH 11 BRANCHES IN 3 STATES AS WELL AS PROVIDING TELEPHONIC, WEB-BASED, MOBILE AND IN-PERSON SERVICE DELIVERY CHANNELS TO ITS MEMBERS IN ORDER FOR THEM TO CONDUCT THEIR FINANCIAL BUSINESS.


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Board, Officers & Key Employees

Name (title)Compensation
Kent L Lugrand
President-Ceo
$1,001,630
J Diane Gerstner
Evp-Eoo
$346,612
Robert Mcdonald
Svp-Cfo
$265,678
Thomas Condos
Svp-Cio
$228,596
Sammie Cantrell
Svp-Cao
$212,706
Timothy Mccoy
Svp-Marketing And Ecommerce
$196,908

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$37,065,496
Investment income $1,790,146
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $8,572
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $42,962,924

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Intouch Credit Union
Plano, TX
$42,962,924

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