Credit Unions Chartered In The State Of Utah

Organization Overview

Credit Unions Chartered In The State Of Utah, operating under the name TransWest Credit Union, is located in Salt Lake City, UT. The organization was established in 1956. 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, TransWest Credit Union employed 47 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. TransWest 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, TransWest Credit Union generated $7.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $6.1m during the year ending 12/2021. While expenses have increased by 3.1% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE FINANCIAL SERVICES TO THE CREDIT UNION MEMBERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO PROVIDE FINANCIAL SERVICES TO OUR CREDIT UNION MEMBERS


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Board, Officers & Key Employees

Name (title)Compensation
Ed Samuels
Loan Manager
$124,463
Steven Pratt
CEO
$117,309
Scott Peterson
Clo
$111,954
Matthew Rood
CFO
$108,744
Roger Beynon
Board Chairman
$1,042
Gary Rogers
Board Secretary
$878

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$0
Investment income $391,350
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $11,880
Net Gain/Loss on Asset Sales $21,295
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $7,303,086

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