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Nonprofiteer
← TECH CREDIT UNION

Form 990 for tax year 2022

Filed by TECH CREDIT UNION.

Totals

Total revenue
$23,189,269
Total expenses
$20,696,239
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$22,632,975
Investment income
$258,083
Other revenue
$298,211
Total assets, end of year
$536,572,543
Total liabilities, end of year
$495,053,216
Net assets or fund balances, end of year
$41,519,327
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: LOAN INTEREST

    total $17,295,581 · related or exempt $17,295,581

  • 2b · Program service revenue: FEES AND CHARGES

    total $5,337,394 · related or exempt $5,337,394

  • 3 · Investment income

    total $258,083 · related or exempt $258,083

  • 6a · Gross rents

    real property $19,241

  • 6b · Less rental expenses

    real property $19,241

  • 6c · Rental income or loss

    real property $0

  • 11a · Other revenue: SETTLEMENT PROCEEDS

    total $298,211 · related or exempt $298,211

  • 11e · Other revenue, total

    $298,211

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $746,511

  • 7 · Other salaries and wages

    total $7,141,557

  • 8 · Pension plan contributions

    total $459,166

  • 9 · Other employee benefits

    total $1,220,438

  • 10 · Payroll taxes

    total $580,638

  • 11b · Fees: legal

    total $41,397

  • 11c · Fees: accounting

    total $67,500

  • 11g · Fees: other

    total $93,007

  • 12 · Advertising and promotion

    total $359,996

  • 13 · Office expenses

    total $849,491

  • 14 · Information technology

    total $658,930

  • 16 · Occupancy

    total $1,108,492

  • 20 · Interest

    total $2,356,063

  • 22 · Depreciation, depletion and amortization

    total $1,231,879

  • 24a · Other expenses: OPERATIONS

    total $2,131,466

  • 24b · Other expenses: LOAN SERVICING EXPENSE

    total $1,193,904

  • 24c · Other expenses: PROVISION FOR LOAN LOSS

    total $310,132

  • 24d · Other expenses: SERVICE CENTER FEES

    total $109,834

  • 24e · All other expenses

    total $35,838

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,934,366 · end of year $2,666,816

  • 2 · Savings and temporary cash investments

    beginning of year $9,894,407 · end of year $6,234,600

  • 7 · Other notes and loans receivable

    beginning of year $445,247,114 · end of year $485,387,755

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,088,769 · end of year $1,196,682

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

    $30,426,276

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

    $9,516,757

  • 10c · Land, buildings and equipment, net

    beginning of year $17,824,171 · end of year $20,909,519

  • 12 · Investments: other securities

    beginning of year $14,277,229 · end of year $3,654,305

  • 15 · Other assets

    beginning of year $18,282,650 · end of year $16,522,866

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,344,753 · end of year $5,571,857

  • 23 · Secured mortgages and notes payable

    beginning of year $10,000,000 · end of year $20,000,000

  • 25 · Other liabilities

    beginning of year $458,041,642 · end of year $469,481,359

  • 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 $39,162,311 · end of year $41,519,327

Mission and programs · 2022

Mission

TO PROVIDE SERVICES THAT ENABLE OUR MEMBERS TO ACHIEVE A LIFETIME OF FINANCIAL SUCCESS.

Activities or mission (Part I)

TO PROMOTE THRIFT AND PROVIDE LOW COST LOANS TO MEMBERS. THIS IS ACCOMPLISHED ON A CO-OPERATIVE BASIS FOR THE MUTUAL BENEFIT OF THOSE WITHIN THE MEMBERSHIP.

  • MAINTAIN SAVINGS ACCOUNTS FOR MEMBERS (TO PROMOTE THRIFT) AND OFFER LOANS TO MEMBERS AT LOW COST AND REASONABLE INTEREST RATES. THE CREDIT UNION HAD APPROXIMATELY 39,749 MEMBERS AT THE END OF THE YEAR.

As filed on the 2022 return.

Listed in Part VII

  • JOE MACHARA

    CHAIRPERSON

    Total calculated
    $6,500
    From this org
    $6,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • PATRICIA CORDRAY

    1ST VICE CHAIRPERSON

    Total calculated
    $1,500
    From this org
    $1,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • JAMES MACK

    2ND VICE CHAIRPERSON

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • WALTER GARBARCZYK

    SECRETARY

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • EDWARD PETYO

    TREASURER

    Total calculated
    $6,250
    From this org
    $6,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • CHRISTINE ATHERTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • LISA BECK

    DIRECTOR

    Total calculated
    $5,500
    From this org
    $5,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • LUIS GONZALEZ

    DIRECTOR

    Total calculated
    $3,750
    From this org
    $3,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • RICHARD YOUNG

    DIRECTOR

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • EUGENE R NOVELLO

    PRESIDENT/CEO

    Total calculated
    $337,480
    From this org
    $297,006
    From related orgs
    $0
    Other
    $40,474
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $297,006
    Bonus
    $0
    Other
    $0
    Deferred
    $29,861
    Nontaxable benefits
    $10,613
    Filer's total
    $337,480

  • CRIS RIZZO KRATKOCZKI

    VICE PRESIDENT OF FINANCE

    Total calculated
    $145,223
    From this org
    $121,849
    From related orgs
    $0
    Other
    $23,374
    Hours/week
    40

  • MICHAEL CASEY

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $221,309
    From this org
    $176,324
    From related orgs
    $0
    Other
    $44,985
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,324
    Bonus
    $0
    Other
    $0
    Deferred
    $18,378
    Nontaxable benefits
    $26,607
    Filer's total
    $221,309

  • KIM CARPENTER

    CUMS MANAGER

    Total calculated
    $194,364
    From this org
    $176,695
    From related orgs
    $0
    Other
    $17,669
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,695
    Bonus
    $0
    Other
    $0
    Deferred
    $17,669
    Nontaxable benefits
    $0
    Filer's total
    $194,364

  • LARRY SCHAFFER

    VICE PRESIDENT OF MARKETIN

    Total calculated
    $152,535
    From this org
    $128,547
    From related orgs
    $0
    Other
    $23,988
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $128,547
    Bonus
    $0
    Other
    $0
    Deferred
    $13,375
    Nontaxable benefits
    $10,613
    Filer's total
    $152,535

  • ROSEANN DENNIS

    VICE PRESIDENT OF HUMAN RE

    Total calculated
    $142,956
    From this org
    $101,983
    From related orgs
    $0
    Other
    $40,973
    Hours/week
    40

  • DONALD MCCORMICK

    VICE PRESIDENT OF COMMERCI

    Total calculated
    $164,960
    From this org
    $122,196
    From related orgs
    $0
    Other
    $42,764
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,196
    Bonus
    $0
    Other
    $0
    Deferred
    $12,921
    Nontaxable benefits
    $29,843
    Filer's total
    $164,960

  • SCOTT WINGER

    VICE PRESIDENT OF FACILITI

    Total calculated
    $135,851
    From this org
    $113,423
    From related orgs
    $0
    Other
    $22,428
    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. 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

  • 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

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.

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.

Related corporations and trusts

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

  • CREDIT UNION MORTGAGE SERVICES LLC

    C · MORTGAGE ORIGINATION · IN · 100% owned · share of income $1,538,081 · share of assets $1,851,130 · controlled entity

    Directly controlled by TECH CREDIT UNION

Provenance

Return type
form_990
Tax year
2022
Filed
12 April 2023
IRS schema version
2022v5.0
Source object
202331079349301238

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