Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: INTEREST ON LOANS

  total $123,718,860 · related or exempt $123,718,860

• 2b · Program service revenue: FEES/CHARGES

  total $30,782,668 · related or exempt $30,782,668

• 2c · Program service revenue: FINANCE AND INSURANCE

  total $119,882 · unrelated business $119,882

• 3 · Investment income

  total $13,181,530 · related or exempt $13,181,530

• 7a · Gross sales of assets other than inventory

  securities $14,981,748

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

  securities $15,535,584

• 7c · Gain or loss

  securities -$553,836

• 7d · Net gain or loss

  total -$553,836 · related or exempt -$553,836

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $530,316

• 5 · Compensation of officers, directors and key employees

  total $4,681,121

• 7 · Other salaries and wages

  total $24,644,111

• 8 · Pension plan contributions

  total $2,719,170

• 9 · Other employee benefits

  total $4,558,004

• 10 · Payroll taxes

  total $2,052,856

• 11b · Fees: legal

  total $50,237

• 11c · Fees: accounting

  total $249,834

• 11f · Fees: investment management

  total $157,867

• 11g · Fees: other

  total $791,606

• 12 · Advertising and promotion

  total $1,461,428

• 13 · Office expenses

  total $4,739,103

• 16 · Occupancy

  total $7,717,503

• 20 · Interest

  total $48,620,991

• 21 · Payments to affiliates

  total $162,947

• 22 · Depreciation, depletion and amortization

  total $3,712,860

• 23 · Insurance

  total $340,020

• 24a · Other expenses: PROVISION FOR LOAN LOSS

  total $15,837,334

• 24b · Other expenses: LOAN SERVICING

  total $5,211,384

• 24c · Other expenses: DEBIT CARD SERVICES

  total $4,068,977

• 24d · Other expenses: MISCELLANEOUS

  total $1,746,571

• 24e · All other expenses

  total $1,267,803

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $17,427,687 · end of year $16,251,663

• 2 · Savings and temporary cash investments

  beginning of year $90,042,406 · end of year $153,590,812

• 4 · Accounts receivable

  beginning of year $19,957,618 · end of year $18,538,448

• 7 · Other notes and loans receivable

  beginning of year $2,605,464,571 · end of year $2,654,965,084

• 9 · Prepaid expenses and deferred charges

  beginning of year $11,780,329 · end of year $14,499,748

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

  $93,144,818

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

  $36,402,011

• 10c · Land, buildings and equipment, net

  beginning of year $55,887,594 · end of year $56,742,807

• 11 · Investments: publicly traded securities

  beginning of year $196,241,151 · end of year $221,903,716

• 12 · Investments: other securities

  beginning of year $4,667,078 · end of year $5,299,581

• 15 · Other assets

  beginning of year $28,329,036 · end of year $33,289,545

• 17 · Accounts payable and accrued expenses

  beginning of year $36,927,221 · end of year $41,425,232

• 23 · Secured mortgages and notes payable

  beginning of year $75,000,000 · end of year $15,000,000

• 25 · Other liabilities

  beginning of year $2,578,689,072 · end of year $2,750,310,081

• 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 $339,181,177 · end of year $368,346,091

The filer's explanations (Part III)

PART I, LINE 4B

THE FOLLOWING EXECUTIVES PARTICIPATED IN THE 457F PLAN. THE FOLLOWING REFLECTS THE DOLLAR AMOUNT THE CREDIT UNION CONTRIBUTED TOWARD EACH EXECUTIVE'S PLAN DURING 2023: J. BENTON $189,024 G. HAMLETT $48,400 J. HARPER $48,400 J. HUNT $48,400 M. JONES $48,400 J. THIEMAN $48,400