Totals
- Total revenue
- $1,857,966
- Total expenses
- $1,510,712
- Contributions and grants received
- $0
- Grants paid
- $500
- Program service revenue
- $1,305,870
- Investment income
- $549,439
- Other revenue
- $2,657
- Total assets, end of year
- $38,313,666
- Total liabilities, end of year
- $33,872,362
- Net assets or fund balances, end of year
- $4,441,304
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- not reported
Program services were 0.0% 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: INTEREST ON LOANS
total $1,166,415 · related or exempt $1,166,415
-
2b · Program service revenue: OTHER MEMBER RELATED INCOME
total $98,967 · related or exempt $98,967
-
2c · Program service revenue: MEMBER FEE INCOME
total $39,948 · related or exempt $39,948
-
2d · Program service revenue: FEE & INSURANCE INCOME
total $540 · unrelated business $540
-
3 · Investment income
total $549,439 · excluded $549,439
-
5 · Royalties
total $2,657 · excluded $2,657
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $500
-
5 · Compensation of officers, directors and key employees
total $95,619
-
7 · Other salaries and wages
total $215,044
-
8 · Pension plan contributions
total $27,432
-
9 · Other employee benefits
total $74,919
-
10 · Payroll taxes
total $24,352
-
11b · Fees: legal
total $1,250
-
11c · Fees: accounting
total $13,771
-
11g · Fees: other
total $5,199
-
12 · Advertising and promotion
total $88,309
-
13 · Office expenses
total $314,832
-
14 · Information technology
total $101,917
-
16 · Occupancy
total $31,859
-
17 · Travel
total $1,422
-
19 · Conferences, conventions and meetings
total $9,912
-
22 · Depreciation, depletion and amortization
total $9,754
-
23 · Insurance
total $26,240
-
24a · Other expenses: DIVIDENDS EXPENSE
total $401,719
-
24b · Other expenses: CREDIT LOSS EXPENSE
total $66,662
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $227,486 · end of year $72,066
-
2 · Savings and temporary cash investments
beginning of year $9,889,302 · end of year $9,691,084
-
7 · Other notes and loans receivable
beginning of year $19,884,129 · end of year $22,166,922
-
9 · Prepaid expenses and deferred charges
beginning of year $52,242 · end of year $61,815
-
10a · Land, buildings and equipment: cost or other basis
$404,677
-
10b · Land, buildings and equipment: accumulated depreciation
$387,389
-
10c · Land, buildings and equipment, net
beginning of year $21,504 · end of year $17,288
-
13 · Investments: program-related
beginning of year $7,636,666 · end of year $6,177,655
-
15 · Other assets
beginning of year $286,134 · end of year $126,836
-
17 · Accounts payable and accrued expenses
beginning of year $221,766 · end of year $235,482
-
21 · Escrow or custodial account liability
beginning of year $28,989 · end of year $63,745
-
25 · Other liabilities
beginning of year $33,652,657 · end of year $33,573,135
-
31 · Retained earnings, endowment or other funds
beginning of year $4,094,051 · end of year $4,441,304
Mission and programs · 2024
Mission
WEA CREDIT UNION WAS CREATED AND SPONSORED BY WEAC FOR TWO REASONS. 1. TO PROVIDE A CONFIDENTIAL SERVICE FROM WHICH MEMBERS OF WEAC CAN BORROW MONEY AT SUBSTANTIALLY LOWER RATES OF INTERST THAN IS POSSIBLE FROM SMALL LOAN COMPANIES OR LOCAL LENDING AGENCIES. 2. TO FURNISH THE OPPORTUNITY FOR INVESTMENT BY MEMBERS WHO DESIRE TO PUT THEIR MONEY IN A SAFE AND HELPFUL BUSINESS PROGRAM.
-
THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 225 NEW DEPOSIT ACCOUNTS IN 2024. AS OF 12/31/24 WE HAD 2,756 MEMBERS.
-
THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 1,495 NEW LOANS DURING 2024. AS OF 12/31/24 WE HAD 1,965 OUTSTANDING LOANS RECEIVABLE.
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Cassandra ThomCASSANDRA THOM
PRESIDENT/CE
- Total calculated
- $131,959
- From this org
- $95,619
- From related orgs
- $0
- Other
- $36,340
- Hours/week
- 50
-
Russell AllenRUSSELL ALLEN
CHAIR
- Total calculated
- $0
- Hours/week
- 0.75
-
Ross HamptonROSS HAMPTON
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 0.5
-
Leigh Barker CheesebroLEIGH BARKER CHEESEBRO
TREASURER
- Total calculated
- $0
- Hours/week
- 0.5
-
Kathryn NautaKATHRYN NAUTA
SECRETARY
- Total calculated
- $0
- Hours/week
- 0.5
-
Terrance CraneyTERRANCE CRANEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Jill HeinJILL HEIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Ryan MaddenRYAN MADDEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 25 April 2025
- IRS schema version
- 2024v5.0
- Source object
- 202541229349302139
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