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Nonprofiteer
← UNITED HERITAGE CREDIT UNION

Form 990 for tax year 2024

Filed by UNITED HERITAGE CREDIT UNION.

Totals

Total revenue
$88,248,137
Total expenses
$81,266,661
Contributions and grants received
$0
Grants paid
$195,501
Program service revenue
$79,853,769
Investment income
$8,394,368
Other revenue
$0
Total assets, end of year
$1,599,960,622
Total liabilities, end of year
$1,459,581,742
Net assets or fund balances, end of year
$140,378,880
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 $63,400,156 · related or exempt $63,400,156

  • 2b · Program service revenue: FEE INCOME

    total $12,455,558 · related or exempt $12,455,558

  • 2c · Program service revenue: OTHER OPERATING INCOME

    total $3,998,055 · related or exempt $2,705,188 · unrelated business $1,292,867

  • 3 · Investment income

    total $8,381,520 · excluded $8,381,520

  • 7a · Gross sales of assets other than inventory

    other assets $2,028,827

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

    other assets $2,015,979

  • 7c · Gain or loss

    other assets $12,848

  • 7d · Net gain or loss

    total $12,848 · excluded $12,848

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $195,501

  • 4 · Benefits paid to or for members

    total $20,840,436

  • 5 · Compensation of officers, directors and key employees

    total $6,009,411

  • 7 · Other salaries and wages

    total $16,372,953

  • 8 · Pension plan contributions

    total $1,352,553

  • 9 · Other employee benefits

    total $2,101,984

  • 10 · Payroll taxes

    total $1,534,383

  • 11b · Fees: legal

    total $113,852

  • 11c · Fees: accounting

    total $87,000

  • 11g · Fees: other

    total $61,085

  • 12 · Advertising and promotion

    total $1,992,608

  • 13 · Office expenses

    total $2,199,679

  • 14 · Information technology

    total $926,085

  • 16 · Occupancy

    total $5,230,582

  • 17 · Travel

    total $539,442

  • 20 · Interest

    total $5,925,388

  • 22 · Depreciation, depletion and amortization

    total $3,482,174

  • 23 · Insurance

    total $258,362

  • 24a · Other expenses: PROVISION FOR CREDIT LO

    total $3,802,828

  • 24b · Other expenses: AUTOMATIC TELLER PROCES

    total $3,747,479

  • 24c · Other expenses: MISCELLANEOUS

    total $2,178,186

  • 24d · Other expenses: DATA PROCESSING

    total $1,946,796

  • 24e · All other expenses

    total $367,894

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $100,440,612 · end of year $213,998,222

  • 2 · Savings and temporary cash investments

    beginning of year $4,464,000 · end of year $4,712,000

  • 4 · Accounts receivable

    beginning of year $132,158 · end of year $15,733

  • 7 · Other notes and loans receivable

    beginning of year $1,308,466,890 · end of year $1,247,351,588

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,709,144 · end of year $3,776,192

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

    $103,937,345

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

    $32,459,458

  • 10c · Land, buildings and equipment, net

    beginning of year $70,022,158 · end of year $71,477,887

  • 12 · Investments: other securities

    beginning of year $23,675,817 · end of year $34,414,396

  • 15 · Other assets

    beginning of year $23,777,263 · end of year $24,214,604

  • 17 · Accounts payable and accrued expenses

    beginning of year $20,710,752 · end of year $20,086,687

  • 23 · Secured mortgages and notes payable

    beginning of year $99,000,000 · end of year $138,000,000

  • 25 · Other liabilities

    beginning of year $1,284,021,482 · end of year $1,301,495,055

  • 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 $130,955,808 · end of year $140,378,880

Mission and programs · 2024

Mission

UHCU PROVIDES A VARIETY OF FINANCIAL SERVICES TO ITS MEMBERS AND PROVIDES INSURANCE AND INVESTMENT BROKERAGE SERVICES TO MEMBERS THROUGH THIRD PARTY RELATIONSHIPS.

Activities or mission (Part I)

UHCU IS A NOT-FOR-PROFIT COOPERATIVE PROVIDING FINANCIAL SERVICES TO ITS MEMBERS.

  • LOANS: CREDIT UNIONS PROVIDE CONSUMER LOANS OF ALL TYPES, INCLUDING VEHICLE LOANS, UNSECURED LOANS, AND CREDIT CARDS. SOME CREDIT UNIONS OFFER RESIDENTAIL MORTGAGES AND SMALL BUSINESS LOANS. CREDIT UNIONS MAY ALSO OFFER RELATED SERVICES SUCH AS CREDIT, LIFE, OR DISABILITY INSURANCE.

  • SHARE SAVINGS ACCOUNTS: ALL CREDIT UNIONS OFFER SHARE SAVINGS ACCOUNTS WHICH PAY DIVIDENDS MONTHLY. MANY CREDIT UNIONS OFFER SPECIAL SAVINGS ACCOUNTS FOR MINORS OR ACCOUNTS FOR HOLIDAY SAVINGS.

  • CHECKING ACCOUNTS: CREDIT UNIONS OFFER CHECKING ACCOUNTS WITH VARYING FEATURES, FROM FREE ACCOUNTS TO MONEY MARKET ACCOUNTS. MANY CHECKING ACCOUNTS HAVE ATM ACCESS, DEBIT CARD ACCESS, AS WELL AS ON-LINE BENEFITS, SUCH AS BILL PAYING.

As filed on the 2024 return.

Listed in Part VII

  • Michael Trevino

    BOARD MEMBER

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Valentin Velasquez

    BOARD MEMBER

    Total calculated
    $16,500
    From this org
    $16,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Edward Clements

    BOARD MEMBER

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Harold Keyes

    BOARD MEMBER

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

  • Robert Hootkins

    BOARD MEMBER

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Robert Spurck

    BOARD MEMBER

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Amber Shammas

    BOARD MEMBER

    Total calculated
    $16,500
    From this org
    $16,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Tommy Lueders

    BOARD MEMBER

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Brenda Henry

    BOARD MEMBER

    Total calculated
    $16,500
    From this org
    $16,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jacob Guerrero

    BOARD MEMBER

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Michael Ver Schuur

    PRESIDENT/CEO

    Total calculated
    $1,182,062
    From this org
    $1,116,143
    From related orgs
    $0
    Other
    $65,919
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $675,278
    Bonus
    $184,113
    Other
    $256,752
    Deferred
    $44,300
    Nontaxable benefits
    $21,619
    Filer's total
    $1,182,062

  • Samantha Hess

    COO

    Total calculated
    $428,624
    From this org
    $381,297
    From related orgs
    $0
    Other
    $47,327
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $323,868
    Bonus
    $56,727
    Other
    $702
    Deferred
    $32,640
    Nontaxable benefits
    $14,687
    Filer's total
    $428,624

  • Nathan Brown

    CTO

    Total calculated
    $414,898
    From this org
    $349,334
    From related orgs
    $0
    Other
    $65,564
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $315,224
    Bonus
    $28,962
    Other
    $5,148
    Deferred
    $42,639
    Nontaxable benefits
    $22,925
    Filer's total
    $414,898

  • Matthew Lyman

    CLO

    Total calculated
    $378,234
    From this org
    $339,674
    From related orgs
    $0
    Other
    $38,560
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $309,932
    Bonus
    $28,962
    Other
    $780
    Deferred
    $7,040
    Nontaxable benefits
    $31,520
    Filer's total
    $378,234

  • Troy Garry

    CFO

    Total calculated
    $410,633
    From this org
    $338,494
    From related orgs
    $0
    Other
    $72,139
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $306,879
    Bonus
    $29,821
    Other
    $1,794
    Deferred
    $39,922
    Nontaxable benefits
    $32,217
    Filer's total
    $410,633

  • Sara Vara

    VP HR

    Total calculated
    $648,725
    From this org
    $603,564
    From related orgs
    $0
    Other
    $45,161
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $201,003
    Bonus
    $54,751
    Other
    $347,810
    Deferred
    $35,603
    Nontaxable benefits
    $9,558
    Filer's total
    $648,725

  • Diane Brown

    VP INFO SVCS/CORE SVCS

    Total calculated
    $311,937
    From this org
    $273,674
    From related orgs
    $0
    Other
    $38,263
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $250,395
    Bonus
    $19,925
    Other
    $3,354
    Deferred
    $27,275
    Nontaxable benefits
    $10,988
    Filer's total
    $311,937

  • Rebecca Elliott

    VP FINANCE

    Total calculated
    $305,093
    From this org
    $257,895
    From related orgs
    $0
    Other
    $47,198
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $237,399
    Bonus
    $19,326
    Other
    $1,170
    Deferred
    $33,429
    Nontaxable benefits
    $13,769
    Filer's total
    $305,093

  • Jacob Bernhard

    VP RE LENDING

    Total calculated
    $302,996
    From this org
    $259,449
    From related orgs
    $0
    Other
    $43,547
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $239,675
    Bonus
    $18,994
    Other
    $780
    Deferred
    $32,901
    Nontaxable benefits
    $10,646
    Filer's total
    $302,996

  • Deena Massa

    VP BRANCH OPERATIONS

    Total calculated
    $318,139
    From this org
    $270,331
    From related orgs
    $0
    Other
    $47,808
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $248,566
    Bonus
    $20,595
    Other
    $1,170
    Deferred
    $16,849
    Nontaxable benefits
    $30,959
    Filer's total
    $318,139

  • Joshua Robles

    VP COMMERCIAL LENDING

    Total calculated
    $278,912
    From this org
    $246,176
    From related orgs
    $0
    Other
    $32,736
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $226,719
    Bonus
    $18,287
    Other
    $1,170
    Deferred
    $22,125
    Nontaxable benefits
    $10,611
    Filer's total
    $278,912

  • Dale Tripp

    VP OF COMPLIANCE

    Total calculated
    $303,532
    From this org
    $244,994
    From related orgs
    $0
    Other
    $58,538
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $224,607
    Bonus
    $18,593
    Other
    $1,794
    Deferred
    $30,368
    Nontaxable benefits
    $28,170
    Filer's total
    $303,532

  • Kevin Farley

    VP EXPERIENCE & ENGAGEMENT

    Total calculated
    $250,085
    From this org
    $233,448
    From related orgs
    $0
    Other
    $16,637
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $214,943
    Bonus
    $17,335
    Other
    $1,170
    Deferred
    $5,200
    Nontaxable benefits
    $11,437
    Filer's total
    $250,085

  • Karen Pollack

    VP OF DIGITAL

    Total calculated
    $318,041
    From this org
    $279,954
    From related orgs
    $0
    Other
    $38,087
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $260,707
    Bonus
    $14,099
    Other
    $5,148
    Deferred
    $27,564
    Nontaxable benefits
    $10,523
    Filer's total
    $318,041

  • Stuart Gehrke

    AVP INFORMATION TECHNOLOGY

    Total calculated
    $233,993
    From this org
    $175,041
    From related orgs
    $0
    Other
    $58,952
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $168,738
    Bonus
    $1,200
    Other
    $5,103
    Deferred
    $37,562
    Nontaxable benefits
    $21,390
    Filer's total
    $233,993

  • Keri Brown

    AVP PROJECT MANAGEMENT

    Total calculated
    $229,766
    From this org
    $198,476
    From related orgs
    $0
    Other
    $31,290
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $193,922
    Bonus
    $1,200
    Other
    $3,354
    Deferred
    $17,917
    Nontaxable benefits
    $13,373
    Filer's total
    $229,766

  • Mark Woodbridge

    AVP OF FINANCE

    Total calculated
    $218,131
    From this org
    $177,913
    From related orgs
    $0
    Other
    $40,218
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $171,616
    Bonus
    $1,200
    Other
    $5,097
    Deferred
    $28,106
    Nontaxable benefits
    $12,112
    Filer's total
    $218,131

  • Sarah Saxon

    AVP BRANCH OPERATIONS

    Total calculated
    $204,690
    From this org
    $160,618
    From related orgs
    $0
    Other
    $44,072
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,733
    Bonus
    $1,200
    Other
    $685
    Deferred
    $12,926
    Nontaxable benefits
    $31,146
    Filer's total
    $204,690

  • Chelsea Schrimpf

    AVP MARKETING

    Total calculated
    $205,468
    From this org
    $183,858
    From related orgs
    $0
    Other
    $21,610
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $181,959
    Bonus
    $1,200
    Other
    $699
    Deferred
    $9,250
    Nontaxable benefits
    $12,360
    Filer's total
    $205,468

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 · First-class or charter travel
  • 1a · Travel for companions
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
VEL VELASQUEZ - FIRST-CLASS TRAVEL WITH SPOUSE - $8,563.10 MIKE TREVINO - FIRST-CLASS TRAVEL WITH SPOUSE - $6,711.68
PART I, LINE 3
BOARD APPROVES CEO COMPENSATION ANNUALLY.
PART I, LINES 4A-B
NAME: SARA VARA, DESCRIPTION: SEVERANCE/CHANGE OF CONTROL, CURRENT YEAR AMOUNT: $288,220. PLAN DESCRIPTION: TERMINATION SERVERANCE NAME: MICHAEL VERSCHUUR, DESCRIPTION: SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN, CURRENT YEAR AMOUNT: $190,485. PLAN DESCRIPTION: 457(F) PLAN

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

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.

  • UHCU CHARITY FOUNDATION

    501(C)3 · SUPPORT PROJECTS, AND ORGANIZATIONS WITHIN LOCAL COMMUNITIES · TX

    Directly controlled by UNITED HERITAGE CREDIT UNION

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.

Disregarded entities

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

  • UHCU FINANCIAL SERVICES LLC

    FINANCIAL SERVICES · TX · income $1,292,867 · assets $948,478

    Directly controlled by UNITED HERITAGE CREDIT UNION

Related partnerships

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

  • UHCU INSURANCE SERVICES

    UNRELATED · INSURANCE SERVICES · TX · 90% owned · share of income $54,036 · share of assets $173,958

    Directly controlled by UNITED HERITAGE CREDIT UNION

  • TEXAS MORGAGE LENDING LLC

    RELATED · CREDIT INTERMEDIARY · TX · 50% owned · share of income $476 · share of assets $1,491,179

    Directly controlled by UNITED HERITAGE CREDIT UNION

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202513219349317926

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