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Nonprofiteer
← CREDIT UNION OF TEXAS

Form 990 for tax year 2024

Filed by CREDIT UNION OF TEXAS.

Totals

Total revenue
$218,115,019
Total expenses
$208,767,480
Contributions and grants received
$0
Grants paid
$222,073
Program service revenue
$201,727,840
Investment income
$1,604,394
Other revenue
$14,782,785
Total assets, end of year
$2,541,111,199
Total liabilities, end of year
$2,357,400,807
Net assets or fund balances, end of year
$183,710,392
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 $135,165,806 · related or exempt $135,165,806

  • 2b · Program service revenue: MEMBERS FEES & CHARGES

    total $38,992,259 · related or exempt $38,992,259

  • 2c · Program service revenue: ATM/DEBIT INCOME

    total $10,860,250 · related or exempt $10,860,250

  • 2d · Program service revenue: SERVICE REIMBURSEMENT

    total $10,491,424 · related or exempt $10,491,424

  • 2e · Program service revenue: INSURANCE PRODUCTS

    total $6,148,480 · related or exempt $6,148,480

  • 2f · All other program service revenue

    total $69,621 · unrelated business $69,621

  • 3 · Investment income

    total $1,626,411 · related or exempt $1,626,411

  • 6a · Gross rents

    real property $2,566,863

  • 6b · Less rental expenses

    real property $81,461

  • 6c · Rental income or loss

    real property $2,485,402

  • 6d · Net rental income or loss

    total $2,485,402 · related or exempt $2,485,402

  • 7a · Gross sales of assets other than inventory

    other assets $510,775

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

    other assets $532,792

  • 7c · Gain or loss

    other assets -$22,017

  • 7d · Net gain or loss

    total -$22,017 · related or exempt -$22,017

  • 11a · Other revenue: OTHER INCOME

    total $10,738,713 · related or exempt $10,738,713

  • 11b · Other revenue: OTHER NON-OPERATING INCOME

    total $1,558,670 · related or exempt $1,558,670

  • 11e · Other revenue, total

    $12,297,383

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $128,639

  • 2 · Grants to domestic individuals

    total $93,434

  • 4 · Benefits paid to or for members

    total $1,581,197

  • 5 · Compensation of officers, directors and key employees

    total $7,572,087

  • 7 · Other salaries and wages

    total $36,167,014

  • 8 · Pension plan contributions

    total $1,291,931

  • 9 · Other employee benefits

    total $5,242,019

  • 10 · Payroll taxes

    total $1,513,746

  • 11a · Fees: management

    total $118,766

  • 11b · Fees: legal

    total $1,097,723

  • 11c · Fees: accounting

    total $232,189

  • 11f · Fees: investment management

    total $1,365

  • 11g · Fees: other

    total $13,127,712

  • 12 · Advertising and promotion

    total $6,093,912

  • 13 · Office expenses

    total $5,241,831

  • 14 · Information technology

    total $13,167,261

  • 16 · Occupancy

    total $8,137,562

  • 17 · Travel

    total $1,047,121

  • 19 · Conferences, conventions and meetings

    total $104,892

  • 20 · Interest

    total $72,259,208

  • 22 · Depreciation, depletion and amortization

    total $8,505,563

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $18,846,441

  • 24b · Other expenses: MISCELLANEOUS EXPENSE

    total $3,827,370

  • 24c · Other expenses: LOAN SERVICING EXPENSE

    total $3,344,538

  • 24d · Other expenses: DEBIT CARD WRITE OFFS

    total $23,959

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $14,848,312 · end of year $19,500,314

  • 2 · Savings and temporary cash investments

    beginning of year $68,851,338 · end of year $72,325,643

  • 4 · Accounts receivable

    beginning of year $8,964,352 · end of year $21,302,604

  • 7 · Other notes and loans receivable

    beginning of year $2,078,937,729 · end of year $2,061,541,519

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,984,952 · end of year $10,096,763

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

    $166,700,675

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

    $53,885,185

  • 10c · Land, buildings and equipment, net

    beginning of year $58,712,288 · end of year $112,815,490

  • 11 · Investments: publicly traded securities

    beginning of year $18,448,909 · end of year $16,312,447

  • 12 · Investments: other securities

    beginning of year $133,278,006 · end of year $129,892,208

  • 15 · Other assets

    beginning of year $119,738,096 · end of year $97,324,211

  • 17 · Accounts payable and accrued expenses

    beginning of year $91,199,175 · end of year $81,658,042

  • 23 · Secured mortgages and notes payable

    beginning of year $218,000,000 · end of year $165,000,000

  • 24 · Unsecured notes and loans payable

    beginning of year $24,534,297 · end of year $24,594,130

  • 25 · Other liabilities

    beginning of year $2,002,956,714 · end of year $2,086,148,635

  • 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 $174,073,796 · end of year $183,710,392

Mission and programs · 2024

Mission

TO BE THE TRUSTED FINANCIAL PARTNER FOR OUR MEMBERS AND OUR COMMUNITY. WE STRIVE TO IDENTIFY OUR MEMBERS' NEEDS AND OFFER PROGRESSIVE SOLUTIONS BY OFFERING COMPETITIVE PRODUCTS AND PRICES TO ALLOW MEMBERS TO REACH THEIR GOALS.

Activities or mission (Part I)

WE PROVIDE VARIOUS FINANCIAL PRODUCTS INCLUDING CONSUMER AND COMMERCIAL LOANS, LEASES, AND REAL ESTATE LOANS. SAVINGS PRODUCTS INCLUDE SHARES, SHARE DRAFTS, MONEY MARKET ACCOUNTS, CDS AND IRAS.

  • CONSUMER AND COMMERCIAL LOANS AND LEASES: CREDIT UNION OF TEXAS OFFERS VARIOUS CONSUMER LOAN PRODUCTS TO OUR MEMBERS. THESE ARE CLOSED-END LOANS THAT INCLUDE NEW AND USED AUTOMOBILES, MOTORCYCLES, BOATS AND RECREATIONAL VEHICLES AND MOTOR HOMES AS WELL AS UNSECURED LOANS AND CREDIT CARDS, AND AUTOMOBILE LEASES. VARIOUS INSURANCE PROGRAMS ARE ALSO OFFERED ON THESE PRODUCTS.

  • CERTIFICATES OF DEPOSITS (CDS) AND INDIVIDUAL RETIREMENT ACCOUNT CERTIFICATES (IRAS): CREDIT UNION OF TEXAS OFFERS CDS AND IRAS FOR OUR MEMBERS TO INVEST IN BOTH SHORT AND LONG TERM INVESTMENT VEHICLES AT A GUARANTEED RATE OF RETURN. INTEREST RATES ARE TYPICALLY COMPETITIVE, COMPOUNDED, AND CREDITED MONTHLY.

  • SHARE ACCOUNTS: CREDIT UNION OF TEXAS HAS A MINIMUM $5.00 SHARE ACCOUNT BALANCE REQUIREMENT AND A ONE TIME $10.00 MEMBERSHIP FEE. MEMBER SHARE ACCOUNTS MAY PAY A MONTHLY DIVIDEND. THESE "SAVINGS" ACCOUNTS ARE PAID A COMPETITIVE RATE TO BENEFIT OUR MEMBERS. CREDIT UNION OF TEXAS HAD APPROXIMATELY 169,000 MEMBERS AS OF DECEMBER 31, 2024. SPECIAL SHARE ACCOUNTS ARE AVAILABLE FOR CHILDREN, SPECIAL OCCASIONS, AND HOLIDAY SAVINGS.

As filed on the 2024 return.

Listed in Part VII

  • Jerry D Christian

    BOD MEMBER

    Total calculated
    $55,298
    From this org
    $55,298
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Marelou M Cisneros

    BOD MEMBER

    Total calculated
    $56,376
    From this org
    $56,376
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Troy A Mathieu

    CHAIRPERSON

    Total calculated
    $59,019
    From this org
    $59,019
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Randall Chaddick

    BOD MEMBER

    Total calculated
    $54,948
    From this org
    $54,948
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Chris L White

    BOD SECRETARY

    Total calculated
    $54,598
    From this org
    $54,598
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Janie Worst

    BOD MEMBER

    Total calculated
    $59,536
    From this org
    $59,536
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Rafael C Diaz

    BOD VICE CHAIRPERSON

    Total calculated
    $41,348
    From this org
    $41,348
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Adrian Williams

    BOD TREASURER

    Total calculated
    $57,908
    From this org
    $57,908
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Anthony U Barber

    BOD MEMBER

    Total calculated
    $55,686
    From this org
    $55,686
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Lisa Wellborn

    BOD MEMBER

    Total calculated
    $56,368
    From this org
    $56,368
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Brian Harvey

    BOD MEMBER

    Total calculated
    $51,150
    From this org
    $51,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Vance E Pointer

    PRESIDENT AND CEO

    Total calculated
    $2,463,963
    From this org
    $2,052,924
    From related orgs
    $0
    Other
    $411,039
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,595,162
    Bonus
    $60,000
    Other
    $397,762
    Deferred
    $379,717
    Nontaxable benefits
    $31,322
    Filer's total
    $2,463,963

  • Kerry J Whitson

    CHIEF FINANCIAL OFFICER

    Total calculated
    $697,182
    From this org
    $545,549
    From related orgs
    $0
    Other
    $151,633
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $348,696
    Bonus
    $9,798
    Other
    $187,055
    Deferred
    $137,663
    Nontaxable benefits
    $13,970
    Filer's total
    $697,182

  • Angela M Faust

    SVP CHIEF OPERATIONS OFFICER

    Total calculated
    $628,073
    From this org
    $484,722
    From related orgs
    $0
    Other
    $143,351
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $355,425
    Bonus
    $19,595
    Other
    $109,702
    Deferred
    $121,061
    Nontaxable benefits
    $22,290
    Filer's total
    $628,073

  • Courtney L Coss

    CHIEF RETAIL OFFICER

    Total calculated
    $705,377
    From this org
    $577,146
    From related orgs
    $0
    Other
    $128,231
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $350,718
    Bonus
    $9,798
    Other
    $216,630
    Deferred
    $128,231
    Nontaxable benefits
    $0
    Filer's total
    $705,377

  • Edwin F Army

    CHIEF MARKETING/ENGAGEMENT

    Total calculated
    $658,313
    From this org
    $423,271
    From related orgs
    $0
    Other
    $235,042
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $314,349
    Bonus
    $9,798
    Other
    $99,124
    Deferred
    $195,481
    Nontaxable benefits
    $39,561
    Filer's total
    $658,313

  • James W Post

    CHIEF FACILITIES OFFICER

    Total calculated
    $641,843
    From this org
    $419,839
    From related orgs
    $0
    Other
    $222,004
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $297,153
    Bonus
    $27,784
    Other
    $94,902
    Deferred
    $186,065
    Nontaxable benefits
    $35,939
    Filer's total
    $641,843

  • Barry R Smith

    PRESIDENT EASTERN TEXAS

    Total calculated
    $353,244
    From this org
    $302,488
    From related orgs
    $0
    Other
    $50,756
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $295,980
    Bonus
    $0
    Other
    $6,508
    Deferred
    $15,250
    Nontaxable benefits
    $35,506
    Filer's total
    $353,244

  • Rocky A Muniz-Gonzalez

    CHIEF INVESTMENT OFFICER

    Total calculated
    $359,697
    From this org
    $335,785
    From related orgs
    $0
    Other
    $23,912
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $279,490
    Bonus
    $33,234
    Other
    $23,061
    Deferred
    $12,796
    Nontaxable benefits
    $11,116
    Filer's total
    $359,697

  • Michael Vining

    CHIEF INFORMATION OFFICER

    Total calculated
    $639,360
    From this org
    $482,861
    From related orgs
    $0
    Other
    $156,499
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $284,785
    Bonus
    $0
    Other
    $198,076
    Deferred
    $122,227
    Nontaxable benefits
    $34,272
    Filer's total
    $639,360

  • Adrian Melendez

    CHIEF TECHNOLOGY OFFICER

    Total calculated
    $525,803
    From this org
    $366,511
    From related orgs
    $0
    Other
    $159,292
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $232,421
    Bonus
    $7,818
    Other
    $126,272
    Deferred
    $119,775
    Nontaxable benefits
    $39,517
    Filer's total
    $525,803

  • Christopher D Murphy

    CHIEF RISK OFFICER

    Total calculated
    $314,787
    From this org
    $291,725
    From related orgs
    $0
    Other
    $23,062
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $244,565
    Bonus
    $10,373
    Other
    $36,787
    Deferred
    $13,246
    Nontaxable benefits
    $9,816
    Filer's total
    $314,787

  • James T Pace

    VICE PRESIDENT - COLLECTIONS

    Total calculated
    $396,358
    From this org
    $353,090
    From related orgs
    $0
    Other
    $43,268
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $193,743
    Bonus
    $0
    Other
    $159,347
    Deferred
    $15,250
    Nontaxable benefits
    $28,018
    Filer's total
    $396,358

  • Kristie H Simo

    CHIEF LENDING OFFICER

    Total calculated
    $291,912
    From this org
    $283,725
    From related orgs
    $0
    Other
    $8,187
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $237,570
    Bonus
    $42,644
    Other
    $3,511
    Deferred
    $0
    Nontaxable benefits
    $8,187
    Filer's total
    $291,912

  • Matthew E Stewart

    MORTGAGE SALES TEAM LEAD

    Total calculated
    $280,243
    From this org
    $248,602
    From related orgs
    $0
    Other
    $31,641
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $58,039
    Bonus
    $190,507
    Other
    $56
    Deferred
    $12,046
    Nontaxable benefits
    $19,595
    Filer's total
    $280,243

  • Richard B Whitman

    PRESIDENT - TML

    Total calculated
    $257,002
    From this org
    $247,995
    From related orgs
    $0
    Other
    $9,007
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $235,360
    Bonus
    $0
    Other
    $12,635
    Deferred
    $8,617
    Nontaxable benefits
    $390
    Filer's total
    $257,002

  • Bill Beauchene

    MANAGER SALESFORCE

    Total calculated
    $266,218
    From this org
    $230,433
    From related orgs
    $0
    Other
    $35,785
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $216,678
    Bonus
    $0
    Other
    $13,755
    Deferred
    $11,598
    Nontaxable benefits
    $24,187
    Filer's total
    $266,218

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
  • 1a · Discretionary spending account
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 4B
HIGHLY COMPENSATED EMPLOYEES ARE PROVIDED THE OPPORTUNITY TO PARTICIPATE IN THE COMPANY SPONSORED 457(B) PLAN. ALL FUNDS IN THE 457(B) PLAN ARE FROM VOLUNTARY DEFERRALS AND NO COMPANY FUNDS ARE ADDED OR MATCHED TO THE DEFERRAL. CERTAIN EXECUTIVE EMPLOYEES PARTICIPATE IN A COMPANY SPONSORED 457(F) PLAN PURSUANT TO A WRITTEN PLAN DOCUMENT AND PARTICIPANT AGREEMENT. THE PARTICIPANTS AND THE BENEFIT LIABILITY RECORDED FOR EACH/AMOUNT PAID OUT AS OF/DURING THE YEAR ENDED DECEMBER 31, 2024 IS AS FOLLOWS: PAYOUTS DURING 2024: V. E. POINTER: $255,188 (EXE 457(F)) J.W. POST: $64,945 (ESRP) C. COSS: $180,868 (ESRP) A. FAUST: $70,950 (ESRP) M. VINING: $123,255 (ESRP) K. WHITSON: $154,780 (ESRP) A. MELENDEZ: $102,766 (ESRP) E. ARMY: $65,038 (ESRP) ACCRUED DEFERRED COMPENSATION LIABILITY AS OF 12/31/24: VANCE E. POINTER (EXE 457(F)) $1,941,508 J.W. POST (ESRP) $148,219 C. COSS (ESRP) $255,826 A. FAUST (ESRP) $298,507 M. VINING (ESRP) $223,444 K. WHITSON (ESRP) $251,659 A. MELENDEZ (ESRP) $106,894 E. ARMY (ESRP): $232,128

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

  • STREETSIDE SHOWERS INC

    $67,500

    CONTRIBUTION TO OFFER HOPE AND HELP RESTORE HUMAN DIGNITY TO THE HOMELESS COMMUNITY IN THE FORM OF A HOT SHOWER AND PERSONAL HYGIENE CARE

  • BEST BUDDIES INTERNATIONAL INC

    $36,015

    SUPPORT TO SERVE INDIVIDUALS WITH IDD AND THEIR FAMILIES. THE IDD COMMUNITY INCLUDES, BUT IS NOT LIMITED TO, PEOPLE WITH DOWN SYNDROME, AUTISM, FRAGILE X, WILLIAMS SYNDROME, AND OTHER UNDIAGNOSED DISABILITIES.

  • CITY OF ALLEN

    $15,000

    CHARITABLE CONTRIBUTION TO SUPPORT THE CITIY'S GROWTH AND DEVELOPMENT

  • DFW HUMANE SOCIETY

    $5,124

    CONTRIBUTION TO SUPPORT THE RESCUE OF OVER 900 PETS AND PROVIDE DAILY CARE, FOOD, AND ENRICHMENT UNTIL WE FIND THEIR PERFECT HUMAN MATCH

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.

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • TEXAS MORTGAGE LENDING LLC

    RELATED · MORTGAGE ORIGINATIONS & SALES · TX · 50% owned · share of income $476 · share of assets $1,600,387

Related corporations and trusts

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

  • DTCU SERVICES INC

    C · HOLDING COMPANY · TX · 100% owned · share of assets $1,699,158 · controlled entity

    Directly controlled by CREDIT UNION OF TEXAS

  • CREDIT UNION SERVICES INC

    C · LEASING · TX · 100% owned · share of income $24,860,318 · share of assets $136,688,513 · controlled entity

    Directly controlled by DTCU SERVICES INC

  • LAKEWOOD TITLE LLC

    C · TITLE COMPANY · TX · 100% owned · share of income $1,645,172 · share of assets $3,219,989 · controlled entity

    Directly controlled by DTCU SERVICES INC

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202543189349315289

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