Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Loan Interest

  total $199,504,193 · related or exempt $199,504,193

• 2b · Program service revenue: Fee/Other Income

  total $24,231,101 · related or exempt $24,051,448 · unrelated business $179,653

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $28,120,155 · related or exempt $28,120,155

• 6c · Rental income or loss

  real property $0 · personal property $0

• 7a · Gross sales of assets other than inventory

  securities $26,370,000 · other assets $246,378,000

• 7b · Less cost or other basis and sales expenses

  securities $27,244,456 · other assets $245,931,044

• 7c · Gain or loss

  securities -$874,456 · other assets $446,956

• 7d · Net gain or loss

  total -$427,500 · related or exempt -$427,500

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $216,000

• 2 · Grants to domestic individuals

  total $14,000

• 5 · Compensation of officers, directors and key employees

  total $3,381,586

• 7 · Other salaries and wages

  total $29,229,313

• 8 · Pension plan contributions

  total $811,724

• 9 · Other employee benefits

  total $8,495,488

• 10 · Payroll taxes

  total $2,568,920

• 11b · Fees: legal

  total $647,320

• 11c · Fees: accounting

  total $660,000

• 11g · Fees: other

  total $1,253,255

• 12 · Advertising and promotion

  total $2,200,832

• 13 · Office expenses

  total $1,950,879

• 16 · Occupancy

  total $7,490,706

• 17 · Travel

  total $71,849

• 19 · Conferences, conventions and meetings

  total $254,403

• 20 · Interest

  total $165,487,399

• 22 · Depreciation, depletion and amortization

  total $3,630,449

• 23 · Insurance

  total $583,236

• 24a · Other expenses: Provision for Loan Losses

  total $32,672,311

• 24b · Other expenses: Data Processing Expense

  total $4,798,686

• 24c · Other expenses: Loan Servicing

  total $4,411,877

• 24d · Other expenses: Miscellaneous Operating

  total $63,331

• 24e · All other expenses

  total $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $9,106,124 · end of year $10,904,499

• 2 · Savings and temporary cash investments

  beginning of year $302,338,165 · end of year $310,049,957

• 4 · Accounts receivable

  beginning of year $1,123,794 · end of year $293,787

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 7 · Other notes and loans receivable

  beginning of year $4,287,035,255 · end of year $3,643,659,355

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,920,033 · end of year $3,743,209

• 10a · Land, buildings and equipment: cost or other basis

  $75,484,776

• 10b · Land, buildings and equipment: accumulated depreciation

  $22,580,475

• 10c · Land, buildings and equipment, net

  beginning of year $53,203,687 · end of year $52,904,301

• 12 · Investments: other securities

  beginning of year $386,974,238 · end of year $352,828,385

• 13 · Investments: program-related

  beginning of year $1,500,000 · end of year $1,500,000

• 15 · Other assets

  beginning of year $58,288,540 · end of year $52,818,747

• 17 · Accounts payable and accrued expenses

  beginning of year $27,697,508 · end of year $29,902,318

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $785,541,092 · end of year $419,552,453

• 25 · Other liabilities

  beginning of year $3,982,584,306 · end of year $3,683,648,947

• 31 · Retained earnings, endowment or other funds

  beginning of year $306,666,930 · end of year $295,598,522

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Travel for companions

COMPENSATION BENEFITS RECEIVED: THE CREDIT UNION HAS POLICIES WHICH ALLOW CERTAIN TRAVEL EXPENSES TO BE PAID BY THE CREDIT UNION WHEN A GUEST ACCOMPANIES AN OFFICIAL OR EMPLOYEE ON CREDIT UNION BUSINESS. THESE EXPENSES ARE TREATED AS TAXABLE INCOME TO THE OFFICIAL OR EMPLOYEE ON WHOSE BEHALF THE EXPENSES ARE PAID.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• CUSO CORPORATION

  C Corporation · MORTGAGE SERVICE · OH · 100% owned · controlled entity

  Directly controlled by GECU