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Nonprofiteer
← TRAVIS CREDIT UNION

Form 990 for tax year 2024

Filed by TRAVIS CREDIT UNION.

Totals

Total revenue
$283,652,476
Total expenses
$262,963,712
Contributions and grants received
$0
Grants paid
$196,600
Program service revenue
$242,316,387
Investment income
$32,871,904
Other revenue
$8,464,185
Total assets, end of year
$5,253,880,860
Total liabilities, end of year
$4,730,060,689
Net assets or fund balances, end of year
$523,820,171
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: INTEREST ON LOANS

    total $203,184,203 · related or exempt $203,184,203

  • 2b · Program service revenue: OTHER OPERATING INCOME

    total $27,561,676 · related or exempt $27,539,314 · unrelated business $22,362

  • 2c · Program service revenue: FEE INCOME

    total $11,570,508 · related or exempt $11,258,064 · unrelated business $312,444

  • 3 · Investment income

    total $32,871,904 · related or exempt $32,871,904

  • 11a · Other revenue: OTHER NON-OPERATING IN

    total $8,464,185 · related or exempt $8,464,185

  • 11e · Other revenue, total

    $8,464,185

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $156,600

  • 2 · Grants to domestic individuals

    total $40,000

  • 5 · Compensation of officers, directors and key employees

    total $7,054,735

  • 7 · Other salaries and wages

    total $54,221,673

  • 8 · Pension plan contributions

    total $4,365,910

  • 9 · Other employee benefits

    total $7,678,373

  • 10 · Payroll taxes

    total $4,343,951

  • 11b · Fees: legal

    total $721,210

  • 11c · Fees: accounting

    total $394,582

  • 11g · Fees: other

    total $3,242,701

  • 12 · Advertising and promotion

    total $4,632,798

  • 13 · Office expenses

    total $20,407,762

  • 14 · Information technology

    total $13,134,193

  • 16 · Occupancy

    total $5,215,069

  • 17 · Travel

    total $1,298,948

  • 20 · Interest

    total $90,361,663

  • 22 · Depreciation, depletion and amortization

    total $3,460,480

  • 23 · Insurance

    total $181,435

  • 24a · Other expenses: PROVISION FOR CREDIT LO

    total $30,157,908

  • 24b · Other expenses: LOAN SERVICING EXPENSE

    total $8,720,344

  • 24c · Other expenses: MISC OPERATING EXPENSES

    total $2,386,629

  • 24d · Other expenses: OPERATING FEES

    total $470,537

  • 24e · All other expenses

    total $316,211

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $37,244,811 · end of year $35,706,789

  • 2 · Savings and temporary cash investments

    beginning of year $252,737,812 · end of year $490,292,677

  • 5 · Loans and receivables from officers and key people

    beginning of year $3,599,996 · end of year $2,362,690

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,262,709 · end of year $8,113,808

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

    $87,459,852

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

    $49,343,396

  • 10c · Land, buildings and equipment, net

    beginning of year $38,934,317 · end of year $38,116,456

  • 11 · Investments: publicly traded securities

    beginning of year $472,196,974 · end of year $473,662,560

  • 13 · Investments: program-related

    beginning of year $4,057,422,829 · end of year $4,137,117,023

  • 15 · Other assets

    beginning of year $65,031,898 · end of year $68,508,857

  • 17 · Accounts payable and accrued expenses

    beginning of year $45,980,812 · end of year $47,928,151

  • 25 · Other liabilities

    beginning of year $4,390,571,350 · end of year $4,682,132,538

  • 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 $497,879,184 · end of year $523,820,171

Mission and programs · 2024

Mission

A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT ANDSAVINGS 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, TRAVIS CREDIT UNION CONDUCTSITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITSMEMBERS 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.

  • TRAVIS CREDIT UNION PROVIDES A VARIETY OF LOANS INCLUDING AUTO, MORTGAGES, CREDIT CARD, SMALL BUSINESS AND UNSECURED AT COMPETITIVE RATES FOR OUR MEMBERSHIP, THEREBY, ASSISTING THEM MANAGE THEIR FINANCIAL HEALTH AND GROWTH IN THE FUTURE.

  • TRAVIS CREDIT UNION PROVIDES A VARIETY OF SAVINGS ACCOUNTS INCLUDING SAVINGS, DEMAND, MONEY MARKET, CERTIFICATES AND INVESTMENTS AT COMPETITIVE RATES FOR OUR MEMBERSHIP, THEREBY, ASSISTING THEM MANAGE THEIR FINANCIAL HEALTH AND GROWTH IN THE FUTURE.

  • TRAVIS CREDIT UNION PROVIDES FINANCIAL SERVICES TO OUR MEMBERSHIP WHICH ARE SMALL BUSINESS OWNERS DEVELOPING THEIR OWN BUSINESSES IN THE COMMUNITY. THESE MEMBERS PROVIDE VALUED SERVICES AND EMPLOYMENT TO OUR COMMUNITY MEMBERS THEREBY PROVIDING FUTURE GROWTH AND A STRONGER QUALITY OF LIFE.

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

Listed in Part VII

  • Deborah Aspling

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    6

  • Tim Murrill

    BOARD VICE CHAIR

    Total calculated
    $980
    From this org
    $980
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Mary Coburn

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    4

  • Douglas Beaumont

    BOARD TREASURER

    Total calculated
    $1,148
    From this org
    $1,148
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Kevin Burke

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    4

  • Ed Rapisarda

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    4

  • Brian Howell

    BOARD MEMBER

    Total calculated
    $770
    From this org
    $770
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • James P Kirkley

    BOARD MEMBER

    Total calculated
    $1,812
    From this org
    $1,812
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Richard Word

    BOARD MEMBER

    Total calculated
    $980
    From this org
    $980
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Timothy Truesdale

    SUPV CMTE CHAIRPERSON

    Total calculated
    $2,250
    From this org
    $2,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Kari Mulholland

    SUPV CMTE MEMBER

    Total calculated
    $3,454
    From this org
    $3,454
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Kevin Miller

    PRESIDENT/CEO

    Total calculated
    $1,337,039
    From this org
    $945,738
    From related orgs
    $0
    Other
    $391,301
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $775,962
    Bonus
    $157,738
    Other
    $12,038
    Deferred
    $354,185
    Nontaxable benefits
    $37,116
    Filer's total
    $1,337,039

  • Ivan Jones

    SVP, CHIEF FINANCIAL OFFIC

    Total calculated
    $1,048,437
    From this org
    $844,751
    From related orgs
    $0
    Other
    $203,686
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $395,455
    Bonus
    $75,547
    Other
    $373,749
    Deferred
    $201,160
    Nontaxable benefits
    $2,526
    Filer's total
    $1,048,437

  • Catherine Johnson-Komins

    SVP, CHIEF PEOPLE OFFICER

    Total calculated
    $621,258
    From this org
    $421,164
    From related orgs
    $0
    Other
    $200,094
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $309,933
    Bonus
    $67,543
    Other
    $43,688
    Deferred
    $199,421
    Nontaxable benefits
    $673
    Filer's total
    $621,258

  • Michael Joseph Levy

    SVP, GENERAL COUNSEL

    Total calculated
    $626,076
    From this org
    $421,043
    From related orgs
    $0
    Other
    $205,033
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $322,717
    Bonus
    $71,863
    Other
    $26,463
    Deferred
    $201,160
    Nontaxable benefits
    $3,873
    Filer's total
    $626,076

  • Scott Nichols

    SVP, CHIEF INFORMATION OFF

    Total calculated
    $624,075
    From this org
    $402,031
    From related orgs
    $0
    Other
    $222,044
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $306,096
    Bonus
    $54,901
    Other
    $41,034
    Deferred
    $199,950
    Nontaxable benefits
    $22,094
    Filer's total
    $624,075

  • Revati Rao

    SVP, CHIEF LENDING OFFICER

    Total calculated
    $649,056
    From this org
    $398,669
    From related orgs
    $0
    Other
    $250,387
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $327,137
    Bonus
    $42,798
    Other
    $28,734
    Deferred
    $199,266
    Nontaxable benefits
    $51,121
    Filer's total
    $649,056

  • Grady Bond

    SVP, CHIEF RETAIL AND LENDING OFFICER

    Total calculated
    $634,134
    From this org
    $384,087
    From related orgs
    $0
    Other
    $250,047
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $329,919
    Bonus
    $41,822
    Other
    $12,346
    Deferred
    $201,160
    Nontaxable benefits
    $48,887
    Filer's total
    $634,134

  • Erik Wakefield

    SVP, OPERATIONS

    Total calculated
    $575,610
    From this org
    $353,747
    From related orgs
    $0
    Other
    $221,863
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $299,419
    Bonus
    $37,687
    Other
    $16,641
    Deferred
    $196,875
    Nontaxable benefits
    $24,988
    Filer's total
    $575,610

  • Douglas Marshall

    SVP, CHIEF MARKETING OFFIC

    Total calculated
    $576,711
    From this org
    $351,069
    From related orgs
    $0
    Other
    $225,642
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $270,783
    Bonus
    $52,800
    Other
    $27,486
    Deferred
    $200,641
    Nontaxable benefits
    $25,001
    Filer's total
    $576,711

  • Cynthia McGuire

    VP, LENDING OPERATIONS

    Total calculated
    $611,236
    From this org
    $572,278
    From related orgs
    $0
    Other
    $38,958
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $290,212
    Bonus
    $23,837
    Other
    $258,229
    Deferred
    $24,525
    Nontaxable benefits
    $14,433
    Filer's total
    $611,236

  • Dena M Rothmann

    MANAGING VP, RETAIL & BRAN

    Total calculated
    $601,586
    From this org
    $565,427
    From related orgs
    $0
    Other
    $36,159
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $244,256
    Bonus
    $46,876
    Other
    $274,295
    Deferred
    $23,672
    Nontaxable benefits
    $12,487
    Filer's total
    $601,586

  • Mark Vinella

    VP, COMPLIANCE & RISK MANAGEMENT

    Total calculated
    $625,774
    From this org
    $564,633
    From related orgs
    $0
    Other
    $61,141
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $263,655
    Bonus
    $23,197
    Other
    $277,781
    Deferred
    $23,708
    Nontaxable benefits
    $37,433
    Filer's total
    $625,774

  • Aric N Koshiyama

    WEALTH ADVISOR

    Total calculated
    $511,655
    From this org
    $473,753
    From related orgs
    $0
    Other
    $37,902
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $63,176
    Bonus
    $410,257
    Other
    $320
    Deferred
    $17,250
    Nontaxable benefits
    $20,652
    Filer's total
    $511,655

  • Kunal Pai-Dhungat

    COMMERCIAL BUSINESS BANKING RELATIONSHIP MGR.

    Total calculated
    $396,202
    From this org
    $344,951
    From related orgs
    $0
    Other
    $51,251
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,924
    Bonus
    $190,397
    Other
    $630
    Deferred
    $17,250
    Nontaxable benefits
    $34,001
    Filer's total
    $396,202

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)

PART I, LINES 4A-B
CYNTHIA MCGUIRE, DENA ROTHMANN AND MARK VINELLA RECEIVED SEVERANCE PAYMENT DURING THE TAX YEAR 2024. 457(B): THE CREDIT UNION HAS A NONQUALIFIED DEFERRED COMPENSATION PLAN FOR SENIOR MANAGEMENT. THE CREDIT UNION MAKES DISCRETIONARY CONTRIBUTIONS TO THE PLAN, AND EMPLOYEES ARE ALLOWED TO CONTRIBUTE TO IT. THE DEFERRED COMPENSATION ACCOUNTS ARE BOTH ASSETS AND LIABILITIES ON THE CREDIT UNION'S FINANCIAL STATEMENTS AND ARE AVAILABLE TO CREDITORS IN THE EVENT OF THE CREDIT UNION'S LIQUIDATION. THE BALANCE OF THE DEFERRED COMPENSATION ARRANGEMENTS, INCLUDED IN OTHER ASSETS AND ACCRUED EXPENSES AND OTHER LIABILITIES, WAS APPROXIMATELY $9,367,000 AND $8,289,000 AS OF DECEMBER 31, 2024, AND 2023, RESPECTIVELY. DEFERRED COMPENSATION EXPENSE WAS APPROXIMATELY $457,000 AND $416,000 FOR THE YEARS ENDED DECEMBER 31, 2024, AND 2023, RESPECTIVELY. 457(F): THE CREDIT UNION ESTABLISHED AN UNFUNDED EXECUTIVE RETENTION PAYMENT PLAN FOR CERTAIN KEY MEMBERS OF MANAGEMENT. THE PLAN PROVIDES A RETENTION BENEFIT SPECIFIED IN THE PARTICIPATION AGREEMENT FOR REMAINING EMPLOYED WITH THE CREDIT UNION UNTIL THE CLIFF VESTING DATE FOR SUCH PAYMENT. IF THE EXECUTIVE ELECTS TO DEFER THE CLIFF VESTING DATE, THE CREDIT UNION WILL CREDIT INTEREST, AT A RATE SPECIFIED IN THE PARTICIPATION AGREEMENT, ON THE DEFERRED BALANCE STARTING ON THE ORIGINAL DEFERRED VESTING DATE, COMPOUNDED ANNUALLY TO THE DATE OF PAYMENT. THE CREDIT UNION'S LIABILITY UNDER THE EXECUTIVE RETENTION PAYMENT PLAN WAS APPROXIMATELY $2,654,000 AND $1,217,000 AS OF DECEMBER 31, 2024, AND 2023, RESPECTIVELY. THE COSTS ASSOCIATED WITH THE PLAN TOTALED APPROXIMATELY $1,764,000 AND $459,000 FOR THE YEARS ENDED DECEMBER 31, 2024, AND 2023, RESPECTIVELY.

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.2
Source object
202523189349304917

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