Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: LOAN INTEREST INCOME

  total $15,046,095 · related or exempt $15,046,095

• 2b · Program service revenue: FEES AND CHARGES

  total $6,346,946 · related or exempt $6,331,590 · unrelated business $15,356

• 2c · Program service revenue: SALE OF MORTGAGES

  total $97,915 · related or exempt $97,915

• 3 · Investment income

  total $861,732 · excluded $861,732

• 7a · Gross sales of assets other than inventory

  other assets $90,435

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

  other assets $0

• 7c · Gain or loss

  other assets $90,435

• 7d · Net gain or loss

  total $90,435 · excluded $90,435

• 11a · Other revenue: MORTGAGE SERVICING FEE

  total $37,156 · related or exempt $37,156

• 11e · Other revenue, total

  $37,156

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $807,468

• 7 · Other salaries and wages

  total $6,140,810

• 8 · Pension plan contributions

  total $186,547

• 9 · Other employee benefits

  total $822,628

• 10 · Payroll taxes

  total $513,967

• 11b · Fees: legal

  total $46,021

• 11c · Fees: accounting

  total $205,053

• 11f · Fees: investment management

  total $7,267

• 12 · Advertising and promotion

  total $319,487

• 13 · Office expenses

  total $312,481

• 14 · Information technology

  total $1,955,734

• 16 · Occupancy

  total $765,492

• 17 · Travel

  total $48,833

• 19 · Conferences, conventions and meetings

  total $262,857

• 22 · Depreciation, depletion and amortization

  total $432,113

• 23 · Insurance

  total $29,482

• 24a · Other expenses: CREDIT AND DEBIT CARD F

  total $2,156,787

• 24b · Other expenses: INTEREST PAID ON MEMBER

  total $1,547,475

• 24c · Other expenses: LOAN SERVICING EXPENSE

  total $1,309,244

• 24d · Other expenses: PROVISION FOR LOAN LOSS

  total $1,203,579

• 24e · All other expenses

  total $1,020,272

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,803,634 · end of year $3,210,257

• 2 · Savings and temporary cash investments

  beginning of year $47,096,486 · end of year $33,976,623

• 7 · Other notes and loans receivable

  beginning of year $297,330,465 · end of year $312,321,626

• 9 · Prepaid expenses and deferred charges

  beginning of year $870,598 · end of year $848,156

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

  $20,906,393

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

  $12,534,024

• 10c · Land, buildings and equipment, net

  beginning of year $8,008,142 · end of year $8,372,369

• 11 · Investments: publicly traded securities

  beginning of year $60,260,672 · end of year $55,869,007

• 15 · Other assets

  beginning of year $22,414,062 · end of year $22,522,308

• 17 · Accounts payable and accrued expenses

  beginning of year $2,452,932 · end of year $3,274,906

• 21 · Escrow or custodial account liability

  beginning of year $1,744,097 · end of year $1,512,482

• 25 · Other liabilities

  beginning of year $380,158,761 · end of year $378,134,300

• 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 $54,428,269 · end of year $54,198,658

The filer's explanations (Part III)

PART I, LINE 3

THE CREDIT UNION UTILIZES AN INDEPENDENT COMPENSATION CONSULTANT IN DETERMINING WAGES FOR ALL OF THE POSITIONS WITHIN THE ORGANIZATION. THE INFORMATION PROVIDED BY THE CONSULTANT IS USED TO ESTABLISH PAY RANGES FOR NEW POSITIONS AS WELL AS ADJUST ESTABLISHED PAY RANGES FOR CHANGES IN THE MARKET.