Form 990 for tax year 2022
Filed by FEDERATED EMPLOYEES CREDIT UNION.
Totals
- Total revenue
- $1,718,744
- Total expenses
- $1,359,808
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $1,414,274
- Investment income
- $278,310
- Other revenue
- $26,160
- Total assets, end of year
- $57,345,907
- Total liabilities, end of year
- $49,699,331
- Net assets or fund balances, end of year
- $7,646,576
- 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 INCOME
total $1,072,035 · related or exempt $1,072,035
-
2b · Program service revenue: OTHER INCOME & FEES
total $342,239 · related or exempt $342,239
-
3 · Investment income
total $324,884 · excluded $324,884
-
7a · Gross sales of assets other than inventory
securities $1,699,893
-
7b · Less cost or other basis and sales expenses
securities $1,746,467
-
7c · Gain or loss
securities -$46,574
-
7d · Net gain or loss
total -$46,574 · excluded -$46,574
-
11a · Other revenue: OTHER NON-OPERATING INCOME
total $26,160 · related or exempt $26,160
-
11e · Other revenue, total
$26,160
Functional expenses
Part IX, the statement of functional expenses.
-
4 · Benefits paid to or for members
total $241,130
-
5 · Compensation of officers, directors and key employees
total $122,862
-
7 · Other salaries and wages
total $302,772
-
9 · Other employee benefits
total $115,704
-
10 · Payroll taxes
total $32,056
-
13 · Office expenses
total $116,405
-
16 · Occupancy
total $26,089
-
17 · Travel
total $9,924
-
22 · Depreciation, depletion and amortization
total $17,196
-
24a · Other expenses: LOAN SERVICING EXPENSES
total $206,236
-
24b · Other expenses: PROFESSIONAL & OUTSIDE
total $126,949
-
24c · Other expenses: MISC OPERATING EXPENSES
total $21,811
-
24d · Other expenses: EDUCATION & PROMOTION
total $14,990
-
24e · All other expenses
total $5,684
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $119,633 · end of year $160,746
-
2 · Savings and temporary cash investments
beginning of year $22,333,614 · end of year $12,857,909
-
7 · Other notes and loans receivable
beginning of year $28,066,922 · end of year $31,139,994
-
9 · Prepaid expenses and deferred charges
beginning of year $8,066 · end of year $27,731
-
10a · Land, buildings and equipment: cost or other basis
$231,939
-
10b · Land, buildings and equipment: accumulated depreciation
$196,022
-
10c · Land, buildings and equipment, net
beginning of year $50,232 · end of year $35,917
-
12 · Investments: other securities
beginning of year $8,500,000 · end of year $12,479,152
-
13 · Investments: program-related
beginning of year $12,500 · end of year $12,500
-
15 · Other assets
beginning of year $545,918 · end of year $631,958
-
17 · Accounts payable and accrued expenses
beginning of year $53,801 · end of year $129,737
-
25 · Other liabilities
beginning of year $52,295,444 · end of year $49,569,594
-
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 $7,287,640 · end of year $7,646,576
Mission and programs · 2022
Mission
TO PROVIDE COMPETITIVE, PROGRESSIVE FINANCIAL SERVICES THAT MEET THE NEEDS OF OUR MEMBERS WHILE PROVIDING FINANCIAL EDUCATION AND MAINTAINING FINANCIAL STABILITY.
-
FEDERATED EMPLOYEES CREDIT UNION RETURNS FUNDS TO MEMBERS IN THE FORM OF DIVIDENDS AND INTEREST WHICH ARE PAID ON ALL SHARE AND CERTIFICATE ACCOUNTS IN THE AMOUNT OF $241,130.
-
FEDERATED EMPLOYEES CREDIT UNION FOCUSES ON PROVIDING SAVINGS DEPOSIT SERVICES, ORIGINATING NEW LOANS AND SERVICING THE LOAN PORTFOLIO FOR MEMBERS.
-
RECORDING MEMBER ACCOUNT ACTIVITY AND PROVIDING ACCESS TO MEMBERS TO THEIR ACCOUNTS VIA HOME BANKING, MOBILE BANKING, ATM NETWORKS AND IN PERSON AT THE CREDIT UNION OFFICE.
As filed on the 2022 return.
Listed in Part VII
-
Jeremiah FlynnJEREMIAH FLYNN
TREASURER
- Total calculated
- $9,976
- From this org
- $9,976
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
John HylleJOHN HYLLE
CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 2
-
Shawn KunkelSHAWN KUNKEL
VICE-CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
Daniel WagnerDANIEL WAGNER
ASST. TREASURER
- Total calculated
- $0
- Hours/week
- 3
-
Tracy ThamertTRACY THAMERT
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Adam GerdesADAM GERDES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 4
-
Shannon BlattiSHANNON BLATTI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Annette ArndtANNETTE ARNDT
MANAGER
- Total calculated
- $112,886
- From this org
- $86,267
- From related orgs
- $0
- Other
- $26,619
- 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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 5 May 2023
- IRS schema version
- 2022v5.0
- Source object
- 202331369349302038
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