Members Preferred Credit Union
- Assets
- $50.5m
- Revenue
- $4.1m
- Investments
- $8.7m
- Employees
- 12
- Location
- Idaho Falls, ID
- Founding
- Data as of
- 12/2023
- EIN
- 82-0288866
Organization Overview
Members Preferred Credit Union is located in Idaho Falls, ID. As of 12/2023, Members Preferred Credit Union employed 12 individuals. Members Preferred 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, Members Preferred Credit Union generated $4.1m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 13.5% each year . All expenses for the organization totaled $2.7m during the year ending 12/2023. While expenses have increased by 11.6% 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
TO PROVIDE CO-OPERATIVE FINANCIAL SERVICES TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION PROVIDED CO-OPERATIVE FINANCIAL SERVICES TO APPROXIMATELY 4,410 MEMBERS IN 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alvin Stalder Chairman | OfficerTrustee | 1 | $0 |
Max Boyce Vice Chair | OfficerTrustee | 0.5 | $0 |
Linda Howell Treasurer | OfficerTrustee | 0.5 | $0 |
John Van Dyck Secretary | OfficerTrustee | 0.5 | $0 |
Kirk Doman Director | Trustee | 0.5 | $0 |
Brandon Hart Director | Trustee | 0.5 | $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 | $3,882,507 |
| Investment income | $218,943 |
| 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 | $4,101,450 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $262,191 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $417,221 |
| Pension plan accruals and contributions | $14,812 |
| Other employee benefits | $121,626 |
| Payroll taxes | $45,923 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,675 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $98,619 |
| Advertising and promotion | $5,067 |
| Office expenses | $75,401 |
| Information technology | $191,128 |
| Royalties | $0 |
| Occupancy | $28,951 |
| Travel | $2,502 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,493 |
| Interest | $148 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $28,314 |
| Insurance | $43,898 |
| All other expenses | $13,632 |
| Total functional expenses | $2,723,190 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $507,692 |
| Savings and temporary cash investments | $3,417,869 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $196,166 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $36,808,935 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $119,819 |
| Net Land, buildings, and equipment | $240,286 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $8,715,206 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $509,258 |
| Total assets | $50,515,231 |
| Accounts payable and accrued expenses | $84,475 |
| 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 | $40,896,259 |
| Total liabilities | $40,980,734 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,201,223 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $8,333,274 |
| Total liabilities and net assets/fund balances | $50,515,231 |