Benton County Schools Credit Union

Organization Overview

Benton County Schools Credit Union is located in Corvallis, OR. The organization was established in 1944. 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, Benton County Schools Credit Union employed 11 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Benton County Schools 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, Benton County Schools Credit Union generated $1.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $1.5m during the year ending 12/2021. While expenses have increased by 3.5% 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

STATE OF OREGON CHARTERED CREDIT UNION. PROVIDE FINANCIAL SERVICES TO 2,267 MEMBERS. THESE SERVICES INCLUDE, BUT ARE LIMITED TO PROVIDING REAL ESTATE AND OTHER SECURED/UNSECURED LOANS AND VARIOUS SAVINGS PROGRAMS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

CREDIT UNION PROGRAMS: 2,267 MEMBERS SERVED WITH 5,409 SAVINGS ACCOUNTS ESTABLISHED AND 110 CERTIFICATES OF DEPOSIT. FUNDED 1,540 LOANS TO MEMBERS.


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Board, Officers & Key Employees

Name (title)Compensation
Joe R Tofte
Director, CEO
$128,781
Harold F Brauner
Secretary
$0
Margaret S Dusek
Chairperson
$0
Kevin Decoster
Director
$0
Dorothy Gallagher
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$1,433,282
Investment income $297,631
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $79,201
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 $1,810,114

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