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Nonprofiteer
← INDIANA UNIVERSITY CREDIT UNION

Form 990 for tax year 2024

Filed by INDIANA UNIVERSITY CREDIT UNION.

Totals

Total revenue
$94,288,835
Total expenses
$78,828,373
Contributions and grants received
$0
Grants paid
$62,711
Program service revenue
$80,484,618
Investment income
$13,825,625
Other revenue
-$21,408
Total assets, end of year
$1,759,542,336
Total liabilities, end of year
$64,090,060
Net assets or fund balances, end of year
$1,695,452,276
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.

  • 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: Loan interest income

    total $67,855,945 · related or exempt $67,855,945 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Debit and credit card interchange income

    total $7,086,356 · related or exempt $7,086,356 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Overdraft and return fee income

    total $2,587,610 · related or exempt $2,587,610 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: Account transfer fees

    total $465,394 · related or exempt $465,394 · unrelated business $0 · excluded $0

  • 2e · Program service revenue: Corporate life insurance income

    total $449,091 · related or exempt $449,091 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $2,040,222 · related or exempt $2,040,222 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $10,870,518 · related or exempt $10,870,518 · 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

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

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

  • 7a · Gross sales of assets other than inventory

    securities $2,955,107 · other assets $0

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $2,955,107 · other assets $0

  • 7d · Net gain or loss

    total $2,955,107 · related or exempt $2,955,107 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $0

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

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

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

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

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

  • 11d · All other revenue

    total -$21,408 · related or exempt $0 · unrelated business -$21,408 · excluded $0

  • 11e · Other revenue, total

    -$21,408

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $62,711

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $2,746,885

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $13,266,247

  • 8 · Pension plan contributions

    total $1,122,205

  • 9 · Other employee benefits

    total $3,197,237

  • 10 · Payroll taxes

    total $1,143,392

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $80,579

  • 11c · Fees: accounting

    total $381,994

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $1,398,649

  • 13 · Office expenses

    total $1,134,861

  • 14 · Information technology

    total $5,341,782

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $957,150

  • 17 · Travel

    total $262,138

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $193,760

  • 20 · Interest

    total $35,675,143

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $1,780,397

  • 23 · Insurance

    total $202,726

  • 24a · Other expenses: ATM debit and credit card exp

    total $4,275,399

  • 24b · Other expenses: Provision for credit losses

    total $2,391,436

  • 24c · Other expenses: Statement processing

    total $421,851

  • 24d · Other expenses: State financial institutions tax

    total $272,100

  • 24e · All other expenses

    total $2,519,731

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,841,349 · end of year $7,244,670

  • 2 · Savings and temporary cash investments

    beginning of year $104,842,746 · end of year $171,061,900

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $4,806,630 · end of year $5,644,138

  • 5 · Loans and receivables from officers and key people

    beginning of year $1,317,846 · end of year $1,632,911

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $1,259,117,985 · end of year $1,369,300,816

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,885,437 · end of year $2,121,955

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

    $34,173,725

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

    $17,335,761

  • 10c · Land, buildings and equipment, net

    beginning of year $17,927,116 · end of year $16,837,964

  • 11 · Investments: publicly traded securities

    beginning of year $246,553,178 · end of year $142,501,594

  • 12 · Investments: other securities

    beginning of year $5,175,000 · end of year $5,175,000

  • 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 $23,149,679 · end of year $38,021,388

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,378,292 · end of year $4,637,648

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 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 $150,000,000 · end of year $50,000,000

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $13,874,133 · end of year $9,452,412

  • 29 · Capital stock, trust principal or current funds

    beginning of year $1,312,842,416 · end of year $1,481,132,389

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $74,329,689 · end of year $83,758,582

  • 31 · Retained earnings, endowment or other funds

    beginning of year $117,192,436 · end of year $130,561,305

Mission and programs · 2024

Mission

Credit union programs. All activities are state chartered credit union activities which are exempt under section 501(c)(14).

Activities or mission (Part I)

State chartered credit union

  • Credit union programs. All activities are state chartered credit union activities which are exempt under section 501(c)(14).

As filed on the 2024 return.

Listed in Part VII

  • Bryan W Price

    President and CEO

    Total calculated
    $803,654
    From this org
    $723,954
    From related orgs
    $0
    Other
    $79,700
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $698,562
    Bonus
    $25,392
    Other
    $0
    Deferred
    $57,500
    Nontaxable benefits
    $22,200
    Filer's total
    $803,654

  • Andrew Allard

    SVP, Chief Operating Officer

    Total calculated
    $390,092
    From this org
    $326,788
    From related orgs
    $0
    Other
    $63,304
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $315,352
    Bonus
    $11,436
    Other
    $0
    Deferred
    $32,909
    Nontaxable benefits
    $30,395
    Filer's total
    $390,092

  • Julie Ragsdale

    SVP, Chief Administrative Officer

    Total calculated
    $365,425
    From this org
    $311,946
    From related orgs
    $0
    Other
    $53,479
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $301,481
    Bonus
    $10,465
    Other
    $0
    Deferred
    $31,279
    Nontaxable benefits
    $22,200
    Filer's total
    $365,425

  • Chris Hawk

    SVP, CFO

    Total calculated
    $357,534
    From this org
    $297,008
    From related orgs
    $0
    Other
    $60,526
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $286,578
    Bonus
    $10,429
    Other
    $0
    Deferred
    $30,131
    Nontaxable benefits
    $30,395
    Filer's total
    $357,533

  • Sarah Rogers

    SVP Business Services

    Total calculated
    $301,410
    From this org
    $246,489
    From related orgs
    $0
    Other
    $54,921
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $237,861
    Bonus
    $8,628
    Other
    $0
    Deferred
    $24,526
    Nontaxable benefits
    $30,395
    Filer's total
    $301,410

  • David Sipes

    SVP Chief Marketing Officer

    Total calculated
    $262,501
    From this org
    $227,320
    From related orgs
    $0
    Other
    $35,181
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $219,448
    Bonus
    $7,871
    Other
    $0
    Deferred
    $22,681
    Nontaxable benefits
    $12,500
    Filer's total
    $262,500

  • Teddie Gambler

    SVP Chief Information Officer

    Total calculated
    $260,658
    From this org
    $225,450
    From related orgs
    $0
    Other
    $35,208
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $217,558
    Bonus
    $7,892
    Other
    $0
    Deferred
    $22,708
    Nontaxable benefits
    $12,500
    Filer's total
    $260,658

  • Anthony Rastall

    VP Business Services

    Total calculated
    $213,847
    From this org
    $166,353
    From related orgs
    $0
    Other
    $47,494
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,350
    Bonus
    $6,002
    Other
    $0
    Deferred
    $17,099
    Nontaxable benefits
    $30,395
    Filer's total
    $213,846

  • Amy Doan

    VP Business Services

    Total calculated
    $197,477
    From this org
    $161,068
    From related orgs
    $0
    Other
    $36,409
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,234
    Bonus
    $5,834
    Other
    $0
    Deferred
    $16,530
    Nontaxable benefits
    $19,879
    Filer's total
    $197,477

  • Scott Trilling

    VP Business Services

    Total calculated
    $191,779
    From this org
    $174,478
    From related orgs
    $0
    Other
    $17,301
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $168,363
    Bonus
    $6,116
    Other
    $0
    Deferred
    $17,301
    Nontaxable benefits
    $0
    Filer's total
    $191,780

  • Lori Forrester

    VP Member Service Support

    Total calculated
    $183,105
    From this org
    $146,204
    From related orgs
    $0
    Other
    $36,901
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $141,011
    Bonus
    $5,193
    Other
    $0
    Deferred
    $14,701
    Nontaxable benefits
    $22,200
    Filer's total
    $183,105

  • Georgeanna Sims

    VP Branch Administration

    Total calculated
    $181,152
    From this org
    $144,576
    From related orgs
    $0
    Other
    $36,576
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,504
    Bonus
    $5,073
    Other
    $0
    Deferred
    $14,376
    Nontaxable benefits
    $22,200
    Filer's total
    $181,153

  • Doris Sims

    Board Chair

    Total calculated
    $2,963
    From this org
    $2,963
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Veda Walcott

    Board Vice Chair

    Total calculated
    $755
    From this org
    $755
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Brad Heim

    Board Treasurer

    Total calculated
    $631
    From this org
    $631
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Avalyn Quick

    Former Director

    Total calculated
    $631
    From this org
    $631
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Scott Smart

    Director

    Total calculated
    $631
    From this org
    $631
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Denvil Duncan

    Board Secretary

    Total calculated
    $0
    Hours/week
    2

  • Dennis Cromwell

    Board Past Chair

    Total calculated
    $0
    Hours/week
    2

  • Jon Barada

    Director

    Total calculated
    $0
    Hours/week
    2

  • Andrea Mobley

    Director

    Total calculated
    $0
    Hours/week
    2

  • Shatoyia Moss

    Director

    Total calculated
    $0
    Hours/week
    2

  • Neil Powell

    Former Director

    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 · Written employment contract
  • 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 pays for Board member companion travel within specified policy limits.

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

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • IU Credit Union Business Services LLC

    Small business lending · IN · income $0 · assets $100,000

    Directly controlled by Indiana University CU

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • IU Credit Union Investment Services Inc

    C · Member investment services · IN · 100% owned · share of income $611,720 · share of assets $198,217 · controlled entity

    Directly controlled by Indiana University CU

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.0
Source object
202533189349305188

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