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← CREDIT UNIONS CHARTERED IN THE STATE OF COLORADO

Form 990 for tax year 2023

Filed by CREDIT UNIONS CHARTERED IN THE STATE OF COLORADO.

Totals

Total revenue
$349,567
Total expenses
$366,125
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$334,627
Investment income
$13,816
Other revenue
$1,124
Total assets, end of year
$5,480,692
Total liabilities, end of year
$5,033,025
Net assets or fund balances, end of year
$447,667
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 MEMBER LOANS

    total $277,846 · related or exempt $277,846

  • 2b · Program service revenue: FEES MEMBER SERVICE

    total $35,527 · related or exempt $35,527

  • 2c · Program service revenue: OTHER OPERATING INCOME

    total $21,254 · related or exempt $21,254

  • 3 · Investment income

    total $13,816 · excluded $13,816

  • 11a · Other revenue: OTHER NON OPERATING IN

    total $1,124 · related or exempt $1,124

  • 11e · Other revenue, total

    $1,124

Functional expenses

Part IX, the statement of functional expenses.

  • 6 · Compensation of disqualified persons

    total $79,238

  • 7 · Other salaries and wages

    total $39,399

  • 10 · Payroll taxes

    total $9,106

  • 11g · Fees: other

    total $55,331

  • 12 · Advertising and promotion

    total $1,732

  • 16 · Occupancy

    total $28,672

  • 19 · Conferences, conventions and meetings

    total $450

  • 20 · Interest

    total $2

  • 22 · Depreciation, depletion and amortization

    total $3,038

  • 24a · Other expenses: OFFICE OPERATIONS EXPEN

    total $57,330

  • 24b · Other expenses: DIVIDENDS & INTEREST -M

    total $49,219

  • 24c · Other expenses: LOAN SERVICING EXPENSE

    total $24,218

  • 24d · Other expenses: PROVISION FOR LOAN LOSS

    total $13,623

  • 24e · All other expenses

    total $4,767

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $35,588 · end of year $24,108

  • 2 · Savings and temporary cash investments

    beginning of year $329,562 · end of year $527,066

  • 7 · Other notes and loans receivable

    beginning of year $4,794,568 · end of year $4,793,099

  • 9 · Prepaid expenses and deferred charges

    beginning of year $16,229 · end of year $16,447

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

    $136,658

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

    $133,254

  • 10c · Land, buildings and equipment, net

    beginning of year $6,442 · end of year $3,404

  • 12 · Investments: other securities

    beginning of year $20,000 · end of year $20,000

  • 15 · Other assets

    beginning of year $92,465 · end of year $96,568

  • 17 · Accounts payable and accrued expenses

    beginning of year $26,951 · end of year $33,183

  • 25 · Other liabilities

    beginning of year $4,803,678 · end of year $4,999,842

  • 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 $464,225 · end of year $447,667

Mission and programs · 2023

Mission

OPTIONS CREDIT UNION (FORMALLY LEGAL COMMUNITY CREDIT UNION OF COLORADO) WAS FOUNDED IN 1979 FOR THE PURPOSE OF PROVIDING AN ALTERNATIVE FINANCIAL SERVICE, FOCUSING ON PERSONALIZED CUSTOMER SERVICE, FOR OUR COMMUNITY.

  • THE CREDIT UNION IS OWNED BY APPROXIMATELY 700 MEMBERS. THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO ITS MEMBERS, SUCH AS CONSUMER LENDING, MORTGAGE LENDING, CHECKING, SAVINGS, CERTIFICATE, AND IRA ACCOUNTS, ATM, DEBIT AND CREDIT CARDS, AND OTHER FINANCIAL SERVICES.

As filed on the 2023 return.

Listed in Part VII

  • Dawn McNight

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Carrie Hale

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Dan Cuhlane

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Tim Gaffigan

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Alisa Steffen

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Sherry Espinoza

    CEO

    Total calculated
    $79,238
    From this org
    $79,238
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
7 November 2024
IRS schema version
2023v5.1
Source object
202433129349303728

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