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Nonprofiteer
← GREENWOOD CREDIT UNION INC

Form 990 for tax year 2025

Filed by GREENWOOD CREDIT UNION INC.

Totals

Total revenue
$55,812,855
Total expenses
$47,496,677
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$53,656,282
Investment income
$2,156,573
Other revenue
$0
Total assets, end of year
$907,742,331
Total liabilities, end of year
$820,151,852
Net assets or fund balances, end of year
$87,590,479
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 $49,543,307 · related or exempt $49,543,307

  • 2b · Program service revenue: MEMBER SERVICE FEES

    total $3,975,612 · related or exempt $3,975,612

  • 2c · Program service revenue: GAIN ON SALE OF LOANS

    total $135,069 · related or exempt $135,069

  • 2d · Program service revenue: NONMEMBER ATM FEES

    total $2,294 · unrelated business $2,294

  • 3 · Investment income

    total $2,156,573 · excluded $2,156,573

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,840,523

  • 7 · Other salaries and wages

    total $5,851,174

  • 8 · Pension plan contributions

    total $248,461

  • 9 · Other employee benefits

    total $1,472,665

  • 10 · Payroll taxes

    total $558,040

  • 12 · Advertising and promotion

    total $234,563

  • 16 · Occupancy

    total $1,000,609

  • 20 · Interest

    total $24,956,464

  • 22 · Depreciation, depletion and amortization

    total $648,932

  • 24a · Other expenses: OPERATIONS EXPENSE

    total $4,267,726

  • 24b · Other expenses: DATA PROCESSING EXPENSE

    total $3,732,331

  • 24c · Other expenses: CREDIT LOSSES PROVISION

    total $2,685,189

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,241,062 · end of year $6,239,657

  • 2 · Savings and temporary cash investments

    beginning of year $22,450,000 · end of year $18,875,000

  • 4 · Accounts receivable

    beginning of year $757,962,481 · end of year $804,680,420

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,431,629 · end of year $3,648,608

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

    $23,976,771

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

    $10,620,694

  • 10c · Land, buildings and equipment, net

    beginning of year $13,862,970 · end of year $13,356,077

  • 12 · Investments: other securities

    beginning of year $12,978,936 · end of year $11,936,665

  • 15 · Other assets

    beginning of year $50,582,937 · end of year $49,005,904

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,034,937 · end of year $2,932,589

  • 21 · Escrow or custodial account liability

    beginning of year $1,361,869 · end of year $1,511,313

  • 25 · Other liabilities

    beginning of year $780,838,908 · end of year $815,707,950

  • 31 · Retained earnings, endowment or other funds

    beginning of year $79,274,301 · end of year $87,590,479

Mission and programs · 2025

Mission

THE CREDIT UNION IS AN ASSOCIATION OWNED BY ITS MEMBER DEPOSITORS. INTEREST INCOME FROM LOANS AND INVESTMENTS ALLOW THE CREDIT UNION TO PROVIDE LOW COST FINANCIAL SERVICES TO ITS MEMBERS.

  • INVESTMENT INCOME FROM LOANS AND INVESTMENTS PROVIDE FUNDS NECESSARY TO PROVIDE LOW COST FINANCIAL PRODUCTS TO MEMBER OWNERS. AT DECEMBER 31, 2025, THE CREDIT UNION HAD 86,211 SHARE/DEPOSIT ACCOUNTS AND 37,084 LOAN ACCOUNTS.

As filed on the 2025 return.

Listed in Part VII

  • Frederick Reinhardt

    CEO

    Total calculated
    $750,007
    From this org
    $703,300
    From related orgs
    $0
    Other
    $46,707
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $367,500
    Bonus
    $10,800
    Other
    $325,000
    Deferred
    $17,500
    Nontaxable benefits
    $50,975
    Filer's total
    $750,007

  • Holly Ferrara

    SENIOR VP/CL

    Total calculated
    $299,502
    From this org
    $255,676
    From related orgs
    $0
    Other
    $43,826
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $217,476
    Bonus
    $38,200
    Other
    not reported
    Deferred
    $12,614
    Nontaxable benefits
    $62,424
    Filer's total
    $299,502

  • Jennifer Lafrance

    SVP/COO

    Total calculated
    $272,102
    From this org
    $245,354
    From related orgs
    $0
    Other
    $26,748
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $217,354
    Bonus
    $28,000
    Other
    not reported
    Deferred
    $12,303
    Nontaxable benefits
    $28,890
    Filer's total
    $272,102

  • Andrew Brown

    CFO

    Total calculated
    $239,634
    From this org
    $228,010
    From related orgs
    $0
    Other
    $11,624
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $207,010
    Bonus
    $21,000
    Other
    not reported
    Deferred
    $11,624
    Nontaxable benefits
    not reported
    Filer's total
    $239,634

  • Theresa Brophy

    SVP, HUMAN R

    Total calculated
    $203,494
    From this org
    $165,798
    From related orgs
    $0
    Other
    $37,696
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,898
    Bonus
    $20,900
    Other
    not reported
    Deferred
    $8,442
    Nontaxable benefits
    $58,508
    Filer's total
    $203,494

  • Paul Silva

    CHIEF RISK O

    Total calculated
    $183,783
    From this org
    $154,714
    From related orgs
    $0
    Other
    $29,069
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,714
    Bonus
    $17,000
    Other
    not reported
    Deferred
    $7,860
    Nontaxable benefits
    $42,418
    Filer's total
    $183,783

  • Karen Sd Grande Esq

    CHAIRPERSON/

    Total calculated
    $36,300
    From this org
    $36,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Philip Slocum

    VICE CHAIR/D

    Total calculated
    $27,300
    From this org
    $27,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Michael Tikoian

    BOARD TREASU

    Total calculated
    $26,100
    From this org
    $26,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Sandra Powell

    BOARD SECRET

    Total calculated
    $25,200
    From this org
    $25,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Marianne Varatta

    DIRECTOR

    Total calculated
    $17,503
    From this org
    $17,503
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Ross Nelson

    DIRECTOR

    Total calculated
    $16,100
    From this org
    $16,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Carrie Bridges Feliz

    DIRECTOR

    Total calculated
    $15,600
    From this org
    $15,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Brian McGuirk

    DIRECTOR

    Total calculated
    $15,100
    From this org
    $15,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Mary Sadlier

    DIRECTOR

    Total calculated
    $12,300
    From this org
    $12,300
    From related orgs
    $0
    Other
    $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. 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

  • 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)

SCHEDULE J, PAGE 1, PART I, LINE 4
FREDERICK REINHARDT 0 325,000 0
SCHEDULE J, PART III
A BUDGET FOR COMPANION TRAVEL TO CONFERENCES AND SEMINARS IS APPROVED BY THE MEMBERS EACH YEAR AT THE ANNUAL MEETING.

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
2025
Filed
18 August 2026
IRS schema version
2025v4.0
Source object
202632309349301998

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