Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Interest on Loans

  total $198,371,580 · related or exempt $198,371,580 · unrelated business $0 · excluded $0

• 2b · Program service revenue: Interchange Income

  total $43,027,901 · related or exempt $43,027,901 · unrelated business $0 · excluded $0

• 2c · Program service revenue: Other Mortgage Income

  total $14,302,152 · related or exempt $14,302,152 · unrelated business $0 · excluded $0

• 2d · Program service revenue: Service Charges/Other income

  total $31,977,135 · related or exempt $31,977,135 · unrelated business $0 · excluded $0

• 2e · Program service revenue: Other Non-interest Income

  total $28,977,234 · related or exempt $28,977,234 · unrelated business $0 · excluded $0

• 2f · All other program service revenue

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

• 3 · Investment income

  total $33,786,028 · related or exempt $33,786,028 · 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

• 6c · Rental income or loss

  real property $0 · personal property $0

• 7c · Gain or loss

  securities $0 · other assets $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 7 · Other salaries and wages

  total $77,926,461

• 8 · Pension plan contributions

  total $3,569,183

• 9 · Other employee benefits

  total $10,945,091

• 10 · Payroll taxes

  total $5,616,480

• 11b · Fees: legal

  total $339,839

• 11c · Fees: accounting

  total $69,504

• 11g · Fees: other

  total $8,722,494

• 12 · Advertising and promotion

  total $6,883,173

• 13 · Office expenses

  total $8,195,019

• 14 · Information technology

  total $18,192,689

• 16 · Occupancy

  total $2,632,990

• 19 · Conferences, conventions and meetings

  total $1,666,502

• 20 · Interest

  total $29,455,620

• 22 · Depreciation, depletion and amortization

  total $11,300,057

• 23 · Insurance

  total $478,671

• 24a · Other expenses: Provision for Loan Losses

  total $11,900,000

• 24b · Other expenses: Dividends on member and non member shares

  total $31,292,530

• 24c · Other expenses: Loan costs

  total $36,119,967

• 24e · All other expenses

  total $27,798,427

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $39,902,207 · end of year $44,262,823

• 2 · Savings and temporary cash investments

  beginning of year $357,089,332 · end of year $304,338,101

• 7 · Other notes and loans receivable

  beginning of year $4,072,448,424 · end of year $4,794,875,539

• 9 · Prepaid expenses and deferred charges

  beginning of year $8,035,164 · end of year $8,126,281

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

  $190,677,372

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

  $80,051,914

• 10c · Land, buildings and equipment, net

  beginning of year $51,256,789 · end of year $110,625,458

• 11 · Investments: publicly traded securities

  beginning of year $339,282,552 · end of year $277,505,509

• 12 · Investments: other securities

  beginning of year $88,029,259 · end of year $97,315,968

• 15 · Other assets

  beginning of year $116,179,511 · end of year $114,434,470

• 17 · Accounts payable and accrued expenses

  beginning of year $66,164,950 · end of year $72,318,365

• 23 · Secured mortgages and notes payable

  beginning of year $135,000,000 · end of year $665,000,000

• 25 · Other liabilities

  beginning of year $4,383,102,608 · end of year $4,509,414,281

• 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 $487,955,680 · end of year $504,751,503

The filer's explanations (Part III)

Schedule J, Part I, Line 1a

BCU pays for golf membership for Mike Valentine CEO, Dave Blum SVP Business Development, and Dan Parsons SVP Community Branches

Disregarded entities

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

• BCU Wealth Advisors LLC

  Financial Advisors · IL · income $3,990,490 · assets $273,633

  Directly controlled by Baxter Credit Union

• Life Money You LLC

  Financial Well-Being · IL · income $0 · assets $15,000

  Directly controlled by Baxer Credit Union

Related corporations and trusts

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

• Baxter Healthcare Corporation

  C · medical supplies · DE · 0% owned