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← CREDIT UNIONS IN THE STATE OF OKLAHOMA COOPERATIVE EMPLOYEES CRE

Form 990 for tax year 2024

Filed by CREDIT UNIONS IN THE STATE OF OKLAHOMA COOPERATIVE EMPLOYEES CRE.

Totals

Total revenue
$578,740
Total expenses
$573,837
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$486,765
Investment income
$91,975
Other revenue
$0
Total assets, end of year
$8,819,907
Total liabilities, end of year
$84,924
Net assets or fund balances, end of year
$8,734,983
Program services expenses (Part IX)
$573,837
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$573,837

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: Interest on Loans to Members

    total $423,905 · related or exempt $423,905 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Interest Rebates on Loans to Members

    total -$16,443 · related or exempt -$16,443 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Miscellaneous Interest Income and Fees

    total $79,303 · related or exempt $79,303 · 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 $91,975 · related or exempt $91,975 · 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

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,971 · program services $2,971

  • 5 · Compensation of officers, directors and key employees

    total $136,364 · program services $136,364

  • 8 · Pension plan contributions

    total $22,116 · program services $22,116

  • 9 · Other employee benefits

    total $48,408 · program services $48,408

  • 10 · Payroll taxes

    total $10,397 · program services $10,397

  • 11b · Fees: legal

    total $582 · program services $582

  • 11c · Fees: accounting

    total $27,373 · program services $27,373

  • 12 · Advertising and promotion

    total $1,031 · program services $1,031

  • 13 · Office expenses

    total $95,561 · program services $95,561

  • 14 · Information technology

    total $39,035 · program services $39,035

  • 17 · Travel

    total $2,814 · program services $2,814

  • 19 · Conferences, conventions and meetings

    total $6,108 · program services $6,108

  • 22 · Depreciation, depletion and amortization

    total $1,543 · program services $1,543

  • 23 · Insurance

    total $9,342 · program services $9,342

  • 24a · Other expenses: Association Dues

    total $12,610 · program services $12,610 · management and general $0 · fundraising $0

  • 24b · Other expenses: Loan Servicing Expense

    total $1,827 · program services $1,827 · management and general $0 · fundraising $0

  • 24c · Other expenses: Dividends to Members on Shares

    total $17,189 · program services $17,189 · management and general $0 · fundraising $0

  • 24d · Other expenses: Dividends to Members-Share CDs and IRAs

    total $136,089 · program services $136,089 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $2,477 · program services $2,477

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,082,601 · end of year $960,509

  • 2 · Savings and temporary cash investments

    beginning of year $1,187,895 · end of year $1,491,421

  • 4 · Accounts receivable

    beginning of year $6,037,587 · end of year $6,025,618

  • 5 · Loans and receivables from officers and key people

    beginning of year $218,867 · end of year $173,941

  • 9 · Prepaid expenses and deferred charges

    beginning of year $19,133 · end of year $41,342

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

    $88,565

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

    $74,978

  • 10c · Land, buildings and equipment, net

    beginning of year $15,130 · end of year $13,587

  • 15 · Other assets

    beginning of year $101,861 · end of year $113,489

  • 17 · Accounts payable and accrued expenses

    beginning of year $72,914 · end of year $84,924

  • 29 · Capital stock, trust principal or current funds

    beginning of year $7,593,222 · end of year $7,733,143

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

    beginning of year $362,169 · end of year $362,169

  • 31 · Retained earnings, endowment or other funds

    beginning of year $634,769 · end of year $639,671

Mission and programs · 2024

Mission

The CECU will conduct business for the benefit of its member owners by providing a full spectrum of quality financial products that create opportunities for members' financial growth and stability.

Activities or mission (Part I)

The Cooperative Employees' Credit Union (CECU) will conduct business for the benefit of its member owners by providing a full spectrum of quality financial products that create opportunities for members' financial growth and stability.

  • Loans to Members: 146 loans to member accounts totaling $2,686,220

  • Interest Bearing Share Accounts: 1,276 member accounts totaling $6,707,956

  • Individual Retirement Accounts: 27 member accounts totaling $1,025,187

  • See Part IX, Columns (A) & (B) for full breakdown of expenses of this organization.

    Expenses $573,837

As filed on the 2024 return.

Listed in Part VII

  • Two FT Employees-One PT Employee

    Officers & Administrative

    Total calculated
    $136,364
    From this org
    $136,364
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Travis Goucher

    Director/President

    Total calculated
    $0
    Hours/week
    5

  • Clem Cassmeyer

    Director/Vice-President

    Total calculated
    $0
    Hours/week
    2

  • Kelli Keeling

    Director/Secretary

    Total calculated
    $0
    Hours/week
    3

  • Radley Stevens

    Director/Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Joe Cheatham

    Director

    Total calculated
    $0
    Hours/week
    3

  • Sara Cramer

    Director

    Total calculated
    $0
    Hours/week
    3

  • Joshua Kirby

    Director

    Total calculated
    $0
    Hours/week
    1

  • Danny Hammons

    Director

    Total calculated
    $0
    Hours/week
    1

  • Amanda Opitz

    Director

    Total calculated
    $0
    Hours/week
    1

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
14 November 2025
IRS schema version
2024v5.0
Source object
202523219349313957

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