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Nonprofiteer
← UNCLE CREDIT UNION

Form 990 for tax year 2024

Filed by UNCLE CREDIT UNION.

Totals

Total revenue
$42,945,421
Total expenses
$42,153,211
Contributions and grants received
$0
Grants paid
$6,700
Program service revenue
$39,802,598
Investment income
$3,142,823
Other revenue
$0
Total assets, end of year
$746,045,550
Total liabilities, end of year
$696,583,603
Net assets or fund balances, end of year
$49,461,947
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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 INTEREST

    total $33,563,828 · related or exempt $33,563,828

  • 2b · Program service revenue: OTHER INCOME

    total $3,210,406 · related or exempt $3,174,219 · unrelated business $36,187

  • 2c · Program service revenue: FEES & SERVICE CHARGES

    total $3,028,364 · related or exempt $2,657,353 · unrelated business $371,011

  • 3 · Investment income

    total $3,141,300 · excluded $3,141,300

  • 7a · Gross sales of assets other than inventory

    other assets $735,971

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

    other assets $734,448

  • 7c · Gain or loss

    other assets $1,523

  • 7d · Net gain or loss

    total $1,523 · excluded $1,523

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $6,700

  • 4 · Benefits paid to or for members

    total $10,594,934

  • 5 · Compensation of officers, directors and key employees

    total $3,774,021

  • 7 · Other salaries and wages

    total $6,995,555

  • 8 · Pension plan contributions

    total $388,107

  • 9 · Other employee benefits

    total $142,444

  • 10 · Payroll taxes

    total $780,548

  • 11b · Fees: legal

    total $136,738

  • 11g · Fees: other

    total $1,365,694

  • 12 · Advertising and promotion

    total $859,592

  • 13 · Office expenses

    total $2,176,184

  • 14 · Information technology

    total $3,263,587

  • 16 · Occupancy

    total $1,008,463

  • 17 · Travel

    total $444,061

  • 20 · Interest

    total $175,296

  • 22 · Depreciation, depletion and amortization

    total $558,278

  • 24a · Other expenses: PROVISION FOR CREDIT LO

    total $6,979,225

  • 24b · Other expenses: LOAN SERVICING EXPENSE

    total $2,081,851

  • 24c · Other expenses: MISC OPERATING EXPENSES

    total $332,883

  • 24d · Other expenses: OPERATING FEES

    total $89,050

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,187,929 · end of year $5,049,798

  • 2 · Savings and temporary cash investments

    beginning of year $29,455,940 · end of year $16,593,181

  • 5 · Loans and receivables from officers and key people

    beginning of year $2,728,544 · end of year $2,654,009

  • 7 · Other notes and loans receivable

    beginning of year $598,783,934 · end of year $630,002,259

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,025,892 · end of year $7,678,612

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

    $12,505,731

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

    $8,721,112

  • 10c · Land, buildings and equipment, net

    beginning of year $3,716,189 · end of year $3,784,619

  • 11 · Investments: publicly traded securities

    beginning of year $56,139,782

  • 12 · Investments: other securities

    beginning of year $8,667,910 · end of year $61,999,707

  • 14 · Intangible assets

    end of year $9,824

  • 15 · Other assets

    beginning of year $13,296,724 · end of year $18,273,541

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,835,063 · end of year $7,395,600

  • 23 · Secured mortgages and notes payable

    end of year $2,750,000

  • 25 · Other liabilities

    beginning of year $671,212,962 · end of year $686,438,003

  • 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 $46,954,819 · end of year $49,461,947

Mission and programs · 2024

Mission

A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR THEM AT RATES OF INTEREST SET BY THE BOARD OF DIRECTORS, AND PROVIDING AN OPPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, UNCLE CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS.

Activities or mission (Part I)

A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS.

  • THE CREDIT UNION PROVIDED 40,569 DEPOSIT ACCOUNTS TO 38,375 MEMBERS AS OF DECEMBER 31, 2024. IN 2024, 16,834 LOANS WERE MADE TO MEMBERS.

  • LOANS AVAILABLE TO MEMBERS INCLUDE AUTO, CREDIT CARD, PERSONAL, HOME EQUITY, AND FIRST MORTGAGES.

  • MEMBERS MAY OPEN THE FOLLOWING DEPOSIT ACCOUNTS: SAVINGS, CHECKING, MONEY MARKET, IRA, TERM CERTIFICATES OF DEPOSIT, YOUTH DEPOSIT ACCOUNTS.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • NEDA GRAY

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    4

  • LYUDMILA SHAPOVALAOV

    TREASURER

    Total calculated
    $0
    Hours/week
    4

  • CHUNG BOTHWELL

    BOARD CHAIRMAN

    Total calculated
    $0
    Hours/week
    6

  • CLAY SMITH

    SECRETARY

    Total calculated
    $0
    Hours/week
    4

  • IVAN COREY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • PETER GOLDSTEIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • LEE NEELY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • JOHN STEIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • JOHN FREEMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • ROBIN MORRIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • HUGH BUSSELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • TERRY BISHOP

    CFO

    Total calculated
    $452,564
    From this org
    $288,089
    From related orgs
    $0
    Other
    $164,475
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $243,576
    Bonus
    $33,483
    Other
    $11,030
    Deferred
    $117,763
    Nontaxable benefits
    $46,712
    Filer's total
    $452,564

  • GINA BLOOMFIELD

    SVP CONTROLLER

    Total calculated
    $309,889
    From this org
    $282,022
    From related orgs
    $0
    Other
    $27,867
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $230,182
    Bonus
    $31,202
    Other
    $20,638
    Deferred
    $4,980
    Nontaxable benefits
    $22,887
    Filer's total
    $309,889

  • HAROLD ROUNDTREE

    CEO

    Total calculated
    $2,594,846
    From this org
    $1,971,179
    From related orgs
    $0
    Other
    $623,667
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $600,600
    Bonus
    $126,265
    Other
    $1,244,314
    Deferred
    $597,764
    Nontaxable benefits
    $25,903
    Filer's total
    $2,594,846

  • JAMES FISHER

    CHIEF TECHNOLOGY OFFICER

    Total calculated
    $416,722
    From this org
    $280,462
    From related orgs
    $0
    Other
    $136,260
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $237,762
    Bonus
    $25,557
    Other
    $17,143
    Deferred
    $106,550
    Nontaxable benefits
    $29,710
    Filer's total
    $416,722

  • FIDELA HERNANDEZ

    VP OF OPERATIONS

    Total calculated
    $231,847
    From this org
    $187,440
    From related orgs
    $0
    Other
    $44,407
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,065
    Bonus
    $20,317
    Other
    $15,058
    Deferred
    $10,637
    Nontaxable benefits
    $33,770
    Filer's total
    $231,847

  • BLAIR CONNER

    CHIEF CREDIT OFFICER

    Total calculated
    $290,314
    From this org
    $271,936
    From related orgs
    $0
    Other
    $18,378
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $233,718
    Bonus
    $28,380
    Other
    $9,838
    Deferred
    $9,478
    Nontaxable benefits
    $8,900
    Filer's total
    $290,314

  • APRIL INGRAM

    CHIEF PEOPLE OFFICER

    Total calculated
    $277,579
    From this org
    $241,262
    From related orgs
    $0
    Other
    $36,317
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $240,158
    Bonus
    $0
    Other
    $1,104
    Deferred
    $16,206
    Nontaxable benefits
    $20,111
    Filer's total
    $277,579

  • ANTERO SORIANO

    VP MEMBER SERVICES

    Total calculated
    $190,621
    From this org
    $169,383
    From related orgs
    $0
    Other
    $21,238
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,960
    Bonus
    $19,937
    Other
    $486
    Deferred
    $11,828
    Nontaxable benefits
    $9,410
    Filer's total
    $190,621

  • ANDREA F JOHNSON

    CHIEF OPERATIONS OFFICER

    Total calculated
    $324,081
    From this org
    $299,600
    From related orgs
    $0
    Other
    $24,481
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $254,439
    Bonus
    $33,757
    Other
    $11,404
    Deferred
    $12,420
    Nontaxable benefits
    $12,061
    Filer's total
    $324,081

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
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 4B
THE CREDIT UNION PARTICIPATES IN A 457(F) DEFERRED COMPENSATION AGREEMENT WITH CERTAIN MEMBERS OF THE EXECUTIVE MANAGEMENT TEAM. THE FOLLOWING EMPLOYEES PARTICIPATED IN THE PLAN DURING 2024: HAROLD ROUNDTREE: $1,199,673 DISTRIBUTION; $563,477 CONTRIBUTION TERRY BISHOP: $98,630 CONTRIBUTION JAMES FISHER: $88,232 CONTRIBUTION

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
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202503219349319620

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