Totals
- Total revenue
- $7,921,774
- Total expenses
- $6,599,545
- Contributions and grants received
- $0
- Grants paid
- $6,677
- Program service revenue
- $4,936,183
- Investment income
- $2,984,391
- Other revenue
- $1,200
- Total assets, end of year
- $167,380,151
- Total liabilities, end of year
- $154,989,703
- Net assets or fund balances, end of year
- $12,390,448
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $0
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: Loan Interest
total $3,469,368 · related or exempt $3,469,368 · unrelated business $0 · excluded $0
-
2b · Program service revenue: Interchange Income
total $726,477 · related or exempt $726,477 · unrelated business $0 · excluded $0
-
2c · Program service revenue: Fee Income
total $589,535 · related or exempt $563,990 · unrelated business $25,545 · excluded $0
-
2d · Program service revenue: Other Inome
total $150,803 · related or exempt $128,017 · unrelated business $22,786 · excluded $0
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $2,984,391 · related or exempt $0 · unrelated business $0 · excluded $2,984,391
-
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 $1,200 · personal property $0
-
6b · Less rental expenses
real property $0 · personal property $0
-
6c · Rental income or loss
real property $1,200 · personal property $0
-
6d · Net rental income or loss
total $1,200 · related or exempt $0 · unrelated business $1,200 · 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.
-
1 · Grants to domestic organizations and governments
total $2,677
-
2 · Grants to domestic individuals
total $4,000
-
4 · Benefits paid to or for members
total $567,167
-
5 · Compensation of officers, directors and key employees
total $300,052
-
7 · Other salaries and wages
total $1,921,350
-
8 · Pension plan contributions
total $97,450
-
9 · Other employee benefits
total $374,780
-
10 · Payroll taxes
total $162,892
-
11b · Fees: legal
total $3,588
-
11c · Fees: accounting
total $28,000
-
11f · Fees: investment management
total $66,751
-
11g · Fees: other
total $322,742
-
12 · Advertising and promotion
total $90,855
-
13 · Office expenses
total $244,800
-
14 · Information technology
total $389,838
-
16 · Occupancy
total $201,288
-
17 · Travel
total $22,153
-
19 · Conferences, conventions and meetings
total $35,059
-
21 · Payments to affiliates
total $30,413
-
22 · Depreciation, depletion and amortization
total $147,152
-
23 · Insurance
total $50,536
-
24a · Other expenses: Loan Servicing
total $524,762
-
24b · Other expenses: ATM & Check Card Expense
total $400,780
-
24c · Other expenses: Provision for Loan Loss
total $385,868
-
24d · Other expenses: Share Draft Expense
total $140,803
-
24e · All other expenses
total $83,789
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,204,152 · end of year $897,869
-
2 · Savings and temporary cash investments
beginning of year $57,883,107 · end of year $57,208,320
-
7 · Other notes and loans receivable
beginning of year $65,157,704 · end of year $66,658,533
-
9 · Prepaid expenses and deferred charges
beginning of year $309,941 · end of year $377,568
-
10a · Land, buildings and equipment: cost or other basis
$4,397,388
-
10b · Land, buildings and equipment: accumulated depreciation
$2,820,776
-
10c · Land, buildings and equipment, net
beginning of year $1,667,052 · end of year $1,576,612
-
11 · Investments: publicly traded securities
beginning of year $41,187,784 · end of year $31,741,262
-
12 · Investments: other securities
beginning of year $4,792,137 · end of year $5,795,889
-
15 · Other assets
beginning of year $3,853,367 · end of year $3,124,098
-
17 · Accounts payable and accrued expenses
beginning of year $524,308 · end of year $522,423
-
25 · Other liabilities
beginning of year $164,435,967 · end of year $154,467,280
-
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 $11,094,969 · end of year $12,390,448
Mission and programs · 2023
Mission
It is the mission of Achieve Credit Union, Inc. to exceed expectations with superior service and products that will promote members' financial success, while operating in a financially sound, ethical manner.
Activities or mission (Part I)
The credit union provides financial services to qualified members.
-
Dividends and interest paid to members on approximately 21,030 deposit accounts held by approximately 11,100 members.
-
Direct labor and employee benefit costs incurred providing savings deposit services, originating new loans and servicing the loan portfolio for members.
-
Data processing costs incurred recording member account activity and providing access to members to their accounts via home banking, ATM networks and in person at the credit union offices.
As filed on the 2023 return.
Listed in Part VII
-
Bret J Fisher
CEO
- Total calculated
- $151,256
- From this org
- $117,459
- From related orgs
- $0
- Other
- $33,797
- Hours/week
- 40 + 0.25 related
Schedule J breakdown matched by us
- Base
- $97,171
- Bonus
- $20,000
- Other
- $288
- Deferred
- $8,463
- Nontaxable benefits
- $25,334
- Filer's total
- $151,256
-
Karen S Akers
CFO
- Total calculated
- $147,688
- From this org
- $130,323
- From related orgs
- $0
- Other
- $17,365
- Hours/week
- 40 + 0.25 related
-
Henry Harsar
Chair of Board
- Total calculated
- $0
- Hours/week
- 2
-
Henry Patterson
Director/Vice Chair of Board
- Total calculated
- $0
- Hours/week
- 2
-
Andrew Lingler
Director
- Total calculated
- $0
- Hours/week
- 2 + 0.25 related
-
Leo Citro
Director
- Total calculated
- $0
- Hours/week
- 2 + 0.25 related
-
Karen Norton
Director/Secretary of Board
- Total calculated
- $0
- Hours/week
- 2
-
Deborah Conner
Director
- Total calculated
- $0
- Hours/week
- 2
-
Jessica Wolfram
Director/Treasurer
- Total calculated
- $0
- Hours/week
- 2
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
- 1a · Travel for companions
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- Schedule J, Part I, Line 1a
- The Credit Union will pay for or reimburse expenses for travel companions of the board members, CEO and managers. Any expenses in excess of $600 in a calendar year for a travel companion are reportable to the IRS and subject to taxation. The following persons received this benefit for a travel companion in 2023: Bret Fisher, Andrew Lingler and Henry Patterson. None of these expenses were taxable compensation to the listed persons.
- Schedule J, Part I, Line 3
- The process used to set the CEO's annual salary is based on a comparison of like-sized credit unions through the use of HRN Performance Solutions' annual salary administration program. This program is comprised of several surveys and is compiled for several regions through the nation. Increases are based on performance objectives determined by a subcommittee of the Board of Directors and presented to the full board for approval.
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.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
Achieve Wealth Management Inc
C · Financial Investment Services · OH · 100% owned · share of income $25,895 · share of assets $133,563 · controlled entity
Directly controlled by Achieve Credit Union Inc
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 7 November 2024
- IRS schema version
- 2023v5.0
- Source object
- 202423129349301137
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