Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Interest on Loans

  total $258,155,777 · related or exempt $258,155,777 · unrelated business $0 · excluded $0

• 2b · Program service revenue: Interchange Income

  total $43,976,207 · related or exempt $43,976,207 · unrelated business $0 · excluded $0

• 2c · Program service revenue: Other Mortgage Income

  total $12,351,929 · related or exempt $12,351,929 · unrelated business $0 · excluded $0

• 2d · Program service revenue: Service Charges/Other Income

  total $36,402,247 · related or exempt $36,402,247 · unrelated business $0 · excluded $0

• 2e · Program service revenue: Other Non-Interest Income

  total $28,987,500 · related or exempt $28,987,500 · unrelated business $0 · excluded $0

• 2f · All other program service revenue

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

• 3 · Investment income

  total $64,001,643 · related or exempt $64,001,643 · unrelated business $0 · excluded $0

• 4 · Income from investment of tax-exempt bond proceeds

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

• 5 · Royalties

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

• 6a · Gross rents

  real property $0 · personal property $0

• 6b · Less rental expenses

  real property $0 · personal property $0

• 6c · Rental income or loss

  real property $0 · personal property $0

• 6d · Net rental income or loss

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

• 7c · Gain or loss

  securities $0 · other assets $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 7 · Other salaries and wages

  total $85,925,860

• 8 · Pension plan contributions

  total $3,738,492

• 9 · Other employee benefits

  total $11,464,288

• 10 · Payroll taxes

  total $5,882,907

• 11b · Fees: legal

  total $209,711

• 11c · Fees: accounting

  total $131,496

• 11g · Fees: other

  total $6,959,141

• 12 · Advertising and promotion

  total $3,604,299

• 13 · Office expenses

  total $9,014,729

• 14 · Information technology

  total $19,737,742

• 16 · Occupancy

  total $3,225,363

• 19 · Conferences, conventions and meetings

  total $1,037,792

• 20 · Interest

  total $64,734,324

• 22 · Depreciation, depletion and amortization

  total $12,104,881

• 23 · Insurance

  total $574,695

• 24a · Other expenses: Loan Costs

  total $35,300,885

• 24b · Other expenses: Provision for Loan Losses

  total $38,800,000

• 24c · Other expenses: Divdiends on member and non member shares

  total $76,202,729

• 24e · All other expenses

  total $25,907,432

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $44,262,823 · end of year $51,028,336

• 2 · Savings and temporary cash investments

  beginning of year $304,338,101 · end of year $364,262,355

• 7 · Other notes and loans receivable

  beginning of year $4,794,875,539 · end of year $4,850,577,179

• 9 · Prepaid expenses and deferred charges

  beginning of year $8,126,281 · end of year $8,354,804

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

  $204,566,014

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

  $92,156,796

• 10c · Land, buildings and equipment, net

  beginning of year $110,625,458 · end of year $112,409,218

• 11 · Investments: publicly traded securities

  beginning of year $277,505,509 · end of year $225,556,772

• 12 · Investments: other securities

  beginning of year $97,315,968 · end of year $86,362,443

• 15 · Other assets

  beginning of year $114,434,470 · end of year $196,621,486

• 17 · Accounts payable and accrued expenses

  beginning of year $72,318,365 · end of year $85,717,813

• 23 · Secured mortgages and notes payable

  beginning of year $665,000,000 · end of year $775,000,000

• 25 · Other liabilities

  beginning of year $4,509,414,281 · end of year $4,509,069,706

• 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 $504,751,503 · end of year $525,385,074

The filer's explanations (Part III)

Schedule J, Part I, Line 1a

Schedule J, Part I, Line 1a - BCU pays for golf memberships for Mike Valentine CEO, Dave Blum SVP Business Development and Dan Parsons SVP Community Branches

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• BCU Wealth Advisors LLC

  Financial Advisors · IL · income $3,870,476 · assets $432,628

  Directly controlled by Baxter Credit Union

• Life Money You LLC

  Financial Well-Being · IL · income $10,250 · assets $190,673

  Directly controlled by Baxer Credit Union

Related corporations and trusts

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

• Baxter Healthcare Corporation

  C · medical supplies · DE · 0% owned