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Nonprofiteer
← Together Credit Union

Form 990 for tax year 2024

Filed by Together Credit Union.

Totals

Total revenue
$158,756,041
Total expenses
$152,262,812
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$135,125,239
Investment income
$23,630,802
Other revenue
$0
Total assets, end of year
$2,526,424,909
Total liabilities, end of year
$2,315,552,289
Net assets or fund balances, end of year
$210,872,620
Program services expenses (Part IX)
$152,262,812
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$152,262,812

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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: Income from Loans

    total $107,289,792 · related or exempt $107,289,792 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Income from Fees

    total $27,835,447 · related or exempt $27,721,899 · unrelated business $113,548 · excluded $0

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $23,630,802 · related or exempt $23,630,802 · 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

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0 · program services $0

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $8,005,623 · program services $8,005,623 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $25,926,208 · program services $25,926,208 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $1,927,117 · program services $1,927,117 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $8,376,931 · program services $8,376,931 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $2,279,995 · program services $2,279,995 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $518,753 · program services $518,753 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $184,383 · program services $184,383 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $411,264 · program services $411,264 · management and general $0 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $3,750,394 · program services $3,750,394 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $8,564,273 · program services $8,564,273 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $8,500,212 · program services $8,500,212 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $2,738,782 · program services $2,738,782 · management and general $0 · fundraising $0

  • 17 · Travel

    total $832,458 · program services $832,458 · management and general $0 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $210,352 · program services $210,352 · management and general $0 · fundraising $0

  • 20 · Interest

    total $51,234,148 · program services $51,234,148 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $4,359,451 · program services $4,359,451 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $460,694 · program services $460,694 · management and general $0 · fundraising $0

  • 24a · Other expenses: Provision for Loan Loss

    total $11,400,000 · program services $11,400,000 · management and general $0 · fundraising $0

  • 24b · Other expenses: Loan Servicing

    total $8,017,562 · program services $8,017,562 · management and general $0 · fundraising $0

  • 24c · Other expenses: ATM/ITM Expenses

    total $1,160,794 · program services $1,160,794 · management and general $0 · fundraising $0

  • 24d · Other expenses: All Other expenses

    total $3,403,418 · program services $3,403,418 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,652,166 · end of year $8,970,973

  • 2 · Savings and temporary cash investments

    beginning of year $59,059 · end of year $51,415

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $5,873,650 · end of year $9,623,092

  • 5 · Loans and receivables from officers and key people

    beginning of year $5,922,312 · end of year $6,066,881

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $1,919,144,988 · end of year $1,943,749,597

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $19,569,306 · end of year $15,811,002

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

    $93,786,242

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

    $45,963,470

  • 10c · Land, buildings and equipment, net

    beginning of year $49,489,200 · end of year $47,822,772

  • 11 · Investments: publicly traded securities

    beginning of year $365,384,990 · end of year $451,482,796

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $42,793,588 · end of year $42,846,381

  • 17 · Accounts payable and accrued expenses

    beginning of year $25,204,326 · end of year $26,581,484

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $950,156 · end of year $658,825

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $190,000,000 · end of year $152,500,000

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $2,000,367,598 · end of year $2,135,811,980

  • 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 $201,367,179 · end of year $210,872,620

Mission and programs · 2024

Mission

All activities pertain to a state-chartered credit union that provides deposit and lending services to its membership which approximates 142,000

Activities or mission (Part I)

All activities pertain to a state chartered credit union that provides deposit and lending services to its membership which approximates 142,000

  • Loans to members

    Expenses $102,901,567 · Revenue $107,289,792

  • Service fees

    Expenses $26,696,958 · Revenue $27,835,447

  • Investments

    Expenses $22,664,287 · Revenue $23,630,802

As filed on the 2024 return.

Listed in Part VII

  • R McKay

    President/CEO

    Total calculated
    $1,715,276
    From this org
    $727,056
    From related orgs
    $0
    Other
    $988,220
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $705,902
    Bonus
    $0
    Other
    $21,155
    Deferred
    $966,722
    Nontaxable benefits
    $21,498
    Filer's total
    $1,715,277

  • M Dougherty

    CLO

    Total calculated
    $544,185
    From this org
    $344,726
    From related orgs
    $0
    Other
    $199,459
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $291,924
    Bonus
    $40,000
    Other
    $12,803
    Deferred
    $177,062
    Nontaxable benefits
    $22,396
    Filer's total
    $544,185

  • D Wyatt

    CIO

    Total calculated
    $428,842
    From this org
    $397,987
    From related orgs
    $0
    Other
    $30,855
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $328,740
    Bonus
    $60,000
    Other
    $9,247
    Deferred
    $21,596
    Nontaxable benefits
    $9,258
    Filer's total
    $428,841

  • C Trunko

    CPO

    Total calculated
    $422,971
    From this org
    $412,723
    From related orgs
    $0
    Other
    $10,248
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $298,444
    Bonus
    $45,000
    Other
    $69,279
    Deferred
    $6,837
    Nontaxable benefits
    $3,411
    Filer's total
    $422,971

  • E Belshe

    Chief Admin & Legal Officer

    Total calculated
    $409,041
    From this org
    $389,040
    From related orgs
    $0
    Other
    $20,001
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $327,000
    Bonus
    $54,000
    Other
    $8,040
    Deferred
    $19,693
    Nontaxable benefits
    $308
    Filer's total
    $409,041

  • T Kraus

    COO

    Total calculated
    $401,601
    From this org
    $347,182
    From related orgs
    $0
    Other
    $54,419
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $296,235
    Bonus
    $40,000
    Other
    $10,947
    Deferred
    $20,652
    Nontaxable benefits
    $33,767
    Filer's total
    $401,601

  • L Skube

    CFO

    Total calculated
    $322,731
    From this org
    $301,955
    From related orgs
    $0
    Other
    $20,776
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $251,223
    Bonus
    $30,000
    Other
    $20,731
    Deferred
    $17,576
    Nontaxable benefits
    $3,200
    Filer's total
    $322,730

  • J Moran

    VP

    Total calculated
    $309,394
    From this org
    $253,484
    From related orgs
    $0
    Other
    $55,910
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $225,067
    Bonus
    $21,000
    Other
    $7,417
    Deferred
    $25,343
    Nontaxable benefits
    $30,567
    Filer's total
    $309,394

  • J Cromer

    VP

    Total calculated
    $287,287
    From this org
    $263,004
    From related orgs
    $0
    Other
    $24,283
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $211,936
    Bonus
    $48,250
    Other
    $2,818
    Deferred
    $14,974
    Nontaxable benefits
    $9,310
    Filer's total
    $287,288

  • N Scudieri

    VP

    Total calculated
    $278,193
    From this org
    $233,423
    From related orgs
    $0
    Other
    $44,770
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $208,955
    Bonus
    $23,000
    Other
    $1,468
    Deferred
    $14,203
    Nontaxable benefits
    $30,567
    Filer's total
    $278,193

  • K Kunze

    VP

    Total calculated
    $262,983
    From this org
    $219,046
    From related orgs
    $0
    Other
    $43,937
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $199,089
    Bonus
    $19,000
    Other
    $957
    Deferred
    $13,371
    Nontaxable benefits
    $30,567
    Filer's total
    $262,984

  • P Sheahan

    VP

    Total calculated
    $261,538
    From this org
    $225,119
    From related orgs
    $0
    Other
    $36,419
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $205,319
    Bonus
    $17,500
    Other
    $2,300
    Deferred
    $13,717
    Nontaxable benefits
    $22,701
    Filer's total
    $261,537

  • M Imo-Moffitt

    MLO

    Total calculated
    $253,230
    From this org
    $209,874
    From related orgs
    $0
    Other
    $43,356
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $22,138
    Bonus
    $187,255
    Other
    $482
    Deferred
    $12,799
    Nontaxable benefits
    $30,557
    Filer's total
    $253,231

  • J Criswell

    VP

    Total calculated
    $250,754
    From this org
    $207,485
    From related orgs
    $0
    Other
    $43,269
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $192,934
    Bonus
    $14,000
    Other
    $550
    Deferred
    $12,702
    Nontaxable benefits
    $30,567
    Filer's total
    $250,753

  • S Mueller

    VP

    Total calculated
    $248,010
    From this org
    $206,138
    From related orgs
    $0
    Other
    $41,872
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $187,569
    Bonus
    $18,000
    Other
    $569
    Deferred
    $11,305
    Nontaxable benefits
    $30,567
    Filer's total
    $248,010

  • P Scheibal

    Director

    Total calculated
    $247,667
    From this org
    $214,391
    From related orgs
    $0
    Other
    $33,276
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $192,972
    Bonus
    $17,000
    Other
    $4,419
    Deferred
    $12,778
    Nontaxable benefits
    $20,498
    Filer's total
    $247,667

  • G Vernon

    MLO

    Total calculated
    $244,547
    From this org
    $201,682
    From related orgs
    $0
    Other
    $42,865
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $22,232
    Bonus
    $178,970
    Other
    $480
    Deferred
    $12,298
    Nontaxable benefits
    $30,567
    Filer's total
    $244,547

  • P Ricra

    Director

    Total calculated
    $244,236
    From this org
    $199,838
    From related orgs
    $0
    Other
    $44,398
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $189,050
    Bonus
    $10,200
    Other
    $589
    Deferred
    $12,330
    Nontaxable benefits
    $32,067
    Filer's total
    $244,236

  • C Lindauer

    VP

    Total calculated
    $241,793
    From this org
    $197,191
    From related orgs
    $0
    Other
    $44,602
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $177,886
    Bonus
    $17,000
    Other
    $2,305
    Deferred
    $12,130
    Nontaxable benefits
    $32,472
    Filer's total
    $241,793

  • M Thinger

    VP

    Total calculated
    $227,813
    From this org
    $210,316
    From related orgs
    $0
    Other
    $17,497
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $195,988
    Bonus
    $13,500
    Other
    $828
    Deferred
    $12,759
    Nontaxable benefits
    $4,738
    Filer's total
    $227,813

  • D Brockett

    Manager

    Total calculated
    $206,720
    From this org
    $166,331
    From related orgs
    $0
    Other
    $40,389
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $97,859
    Bonus
    $68,058
    Other
    $414
    Deferred
    $10,006
    Nontaxable benefits
    $30,383
    Filer's total
    $206,720

  • J Boyer

    VP

    Total calculated
    $196,811
    From this org
    $183,479
    From related orgs
    $0
    Other
    $13,332
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $50,667
    Bonus
    $18,000
    Other
    $114,812
    Deferred
    $3,914
    Nontaxable benefits
    $9,419
    Filer's total
    $196,812

  • C Klauke

    Assoc Board Member

    Total calculated
    $2,941
    From this org
    $2,941
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

  • S Stobbs

    Board Member

    Total calculated
    $1,350
    From this org
    $1,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

  • R Kraus

    Board Member

    Total calculated
    $1,231
    From this org
    $1,231
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

  • K Wesselschmidt

    Assoc Board Member

    Total calculated
    $567
    From this org
    $567
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

  • T Jacobs

    Assoc Board Member

    Total calculated
    $311
    From this org
    $311
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

  • A Saferite

    Assoc Board Member

    Total calculated
    $0
    Hours/week
    0

  • A Dierkes

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • M Chapman

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • J Fugel

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • B Rickmann

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • J Knapper

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • M Harris

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • B Tuffli

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • J Mize

    Assoc Board Member

    Total calculated
    $0
    Hours/week
    0

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 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Schedule J, Part I, Line 1a
Board Member spouse travel: C Klauke $2,941; R Kraus $1,231; K Wesselschmidt $567; T Jacobs $311; S Stobbs $1,350
Schedule J, Part I, Line 4
question 4a - C Trunko, Severance - $298,201; J Boyer, Severance - $103,501; question 4b - R McKay, Supplemental Retirement Plan payout $300,000; M Dougherty, Supplemental Retirement Plan Payout $250,000

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
17 October 2025
IRS schema version
2024v5.0
Source object
202512939349300011

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