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← DEPARTMENT OF FINANCIAL INSTITUTION DIVISION OF CREDIT UNIONS IN IND

Form 990 for tax year 2025

Filed by DEPARTMENT OF FINANCIAL INSTITUTION DIVISION OF CREDIT UNIONS IN IND.

Totals

Total revenue
$6,589,287
Total expenses
$6,192,287
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,541,727
Investment income
$2,046,625
Other revenue
$935
Total assets, end of year
$130,726,566
Total liabilities, end of year
$119,558,940
Net assets or fund balances, end of year
$11,167,626
Program services expenses (Part IX)
$6,192,287
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$6,192,287

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: LOAN INCOME

    total $3,230,334 · related or exempt $3,230,334

  • 2b · Program service revenue: OTHER INCOME

    total $683,018 · related or exempt $683,018

  • 2c · Program service revenue: FEE INCOME

    total $628,375 · related or exempt $628,375

  • 3 · Investment income

    total $2,046,625 · excluded $2,046,625

  • 11a · Other revenue: OTHER

    total $935 · excluded $935

  • 11e · Other revenue, total

    $935

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $1,256,791 · program services $1,256,791

  • 8 · Pension plan contributions

    total $45,727 · program services $45,727

  • 9 · Other employee benefits

    total $270,671 · program services $270,671

  • 10 · Payroll taxes

    total $94,457 · program services $94,457

  • 11b · Fees: legal

    total $4,260 · program services $4,260

  • 11c · Fees: accounting

    total $59,755 · program services $59,755

  • 11g · Fees: other

    total $684,496 · program services $684,496

  • 12 · Advertising and promotion

    total $218,703 · program services $218,703

  • 13 · Office expenses

    total $243,653 · program services $243,653

  • 14 · Information technology

    total $314,371 · program services $314,371

  • 16 · Occupancy

    total $242,450 · program services $242,450

  • 17 · Travel

    total $13,124 · program services $13,124

  • 19 · Conferences, conventions and meetings

    total $5,556 · program services $5,556

  • 20 · Interest

    total $1,557,170 · program services $1,557,170

  • 22 · Depreciation, depletion and amortization

    total $210,366 · program services $210,366

  • 23 · Insurance

    total $58,298 · program services $58,298

  • 24a · Other expenses: LOAN SERVICE EXPENSE

    total $519,629 · program services $519,629

  • 24b · Other expenses: SHARE EXPENSE

    total $185,151 · program services $185,151

  • 24c · Other expenses: PROVISION FOR LOAN LOSS

    total $155,149 · program services $155,149

  • 24d · Other expenses: MISCELLANEOUS

    total $38,471 · program services $38,471

  • 24e · All other expenses

    total $14,039 · program services $14,039

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $859,409 · end of year $1,395,124

  • 2 · Savings and temporary cash investments

    beginning of year $5,328,432 · end of year $3,290,641

  • 7 · Other notes and loans receivable

    beginning of year $53,153,806 · end of year $53,547,764

  • 9 · Prepaid expenses and deferred charges

    beginning of year $242,230 · end of year $306,744

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

    $6,307,183

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

    $3,355,079

  • 10c · Land, buildings and equipment, net

    beginning of year $2,887,750 · end of year $2,952,104

  • 11 · Investments: publicly traded securities

    beginning of year $27,446,404 · end of year $30,562,497

  • 12 · Investments: other securities

    beginning of year $30,495,498 · end of year $35,724,513

  • 15 · Other assets

    beginning of year $2,785,305 · end of year $2,947,179

  • 17 · Accounts payable and accrued expenses

    beginning of year $575,858 · end of year $546,537

  • 25 · Other liabilities

    beginning of year $113,235,259 · end of year $119,012,403

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $9,387,717 · end of year $11,167,626

Mission and programs · 2025

Mission

STATE CHARTERED CREDIT UNION TO PROVIDE LOAN AND DEPOSIT SERVICES TO MEMBERS

Activities or mission (Part I)

STATE CHARTERED CREDIT UNION

  • LOAN AND SHARE PRODUCTS TO CREDIT UNION MEMBERS

    Expenses $6,192,287

As filed on the 2025 return.

Listed in Part VII

  • Michael Palmer

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Jack Van Etten

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • George Kazmierczak

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Ben Neitzel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Fran Brennan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Dennis Fischer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Robert Havens

    VICE PRESIDENT

    Total calculated
    $179,878
    From this org
    $140,714
    From related orgs
    $0
    Other
    $39,164
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $136,714
    Bonus
    $4,000
    Other
    $0
    Deferred
    $6,332
    Nontaxable benefits
    $32,832
    Filer's total
    $179,878

  • Frank Beachnau

    PRESIDENT/CEO

    Total calculated
    $181,410
    From this org
    $145,057
    From related orgs
    $0
    Other
    $36,353
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $143,057
    Bonus
    $2,000
    Other
    $0
    Deferred
    $6,527
    Nontaxable benefits
    $29,826
    Filer's total
    $181,410

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2025
Filed
30 July 2026
IRS schema version
2025v4.2
Source object
202632129349301333

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