Del Norte Credit Union
- Assets
- $967.6m
- Revenue
- $36.6m
- Investments
- $0.0
- Employees
- 261
- Location
- Los Alamos, NM
- Founding
- 01/1973
- Data as of
- 12/2021
- EIN
- 85-0124035
Organization Overview
Del Norte Credit Union is located in Los Alamos, NM. The organization was established in 1973. 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, Del Norte Credit Union employed 261 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Del Norte 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, Del Norte Credit Union generated $36.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $29.6m during the year ending 12/2021. While expenses have increased by 6.1% 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
DEL NORTE CREDIT UNION (DNCU) IS ORGANIZED AS A COOPERATIVE ASSOCIATION WITH THE MISSION OF IMPROVING LIVES BY PROMOTING THRIFT AMONG, AND CREATING A SOURCE OF CREDIT FOR ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION PROVIDES DRAFT AND SHARE ACCOUNTS, CONSUMER LOANS, SHARE CERTIFICATES, AND OTHER EXEMPT FUNCTION ACTIVITIES TO ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Chuck Valenti CEO | Officer | 40 | $354,413 |
Amanda George Mortgage Loan Officer | 40 | $259,221 | |
David Weidauer Evp | Officer | 40 | $237,517 |
John Balli Evp (until 10/08/21) | Officer | 40 | $222,808 |
Debbie Salazar Chief Experience Officer | Officer | 40 | $182,456 |
Jolene Allen Chief Culture Officer | Officer | 40 | $180,851 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wilger Enterprises Inc Building Contractor | 12/30/21 | $1,415,151 |
Pscu Financial Services Credit Card Processing Company/digital D | 12/30/21 | $1,905,566 |
Ncr Corporation Bill Pay Services | 12/30/21 | $718,516 |
Visa Credit Card Processing Company | 12/30/21 | $574,780 |
Spann Hollowway & Artley Collection Attorneys | 12/30/21 | $276,229 |
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 | $36,581,378 |
| Investment income | $0 |
| 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 | $36,581,378 |
| 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. | $3,183,048 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,991,519 |
| Pension plan accruals and contributions | $158,075 |
| Other employee benefits | $1,833,961 |
| Payroll taxes | $950,461 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $43,462 |
| Fees for services: Accounting | $60,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,209,551 |
| Advertising and promotion | $1,012,601 |
| Office expenses | $4,043,242 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $770,677 |
| Travel | $40,409 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $107,884 |
| Interest | $1,527,224 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,403,462 |
| Insurance | $190,518 |
| All other expenses | $0 |
| Total functional expenses | $29,640,184 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,437,150 |
| Savings and temporary cash investments | $138,253,378 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,111,711 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $627,111,309 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $753,342 |
| Net Land, buildings, and equipment | $28,455,054 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $158,206,398 |
| Intangible assets | $0 |
| Other assets | $8,278,629 |
| Total assets | $967,606,971 |
| Accounts payable and accrued expenses | $3,900,025 |
| Grants payable | $0 |
| Deferred revenue | $111,167 |
| 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 | $870,042,415 |
| Total liabilities | $874,053,607 |
| 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 | $93,553,364 |
| Total liabilities and net assets/fund balances | $967,606,971 |
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