Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: INTEREST ON LOANS

  total $148,192,429 · related or exempt $148,192,429

• 2b · Program service revenue: FEES/CHARGES

  total $30,229,857 · related or exempt $30,229,857

• 2c · Program service revenue: FINANCE AND INSURANCE

  total $443,572 · unrelated business $443,572

• 3 · Investment income

  total $15,926,588 · related or exempt $15,926,588

• 11a · Other revenue: REDEMPTION OF CLASS B

  total $3,011,354 · related or exempt $3,011,354

• 11e · Other revenue, total

  $3,011,354

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $534,171

• 5 · Compensation of officers, directors and key employees

  total $5,739,303

• 7 · Other salaries and wages

  total $26,675,296

• 8 · Pension plan contributions

  total $3,168,786

• 9 · Other employee benefits

  total $5,190,815

• 10 · Payroll taxes

  total $2,299,427

• 11b · Fees: legal

  total $32,417

• 11c · Fees: accounting

  total $228,882

• 11f · Fees: investment management

  total $168,200

• 11g · Fees: other

  total $752,959

• 12 · Advertising and promotion

  total $1,644,598

• 13 · Office expenses

  total $4,407,644

• 16 · Occupancy

  total $8,617,673

• 20 · Interest

  total $70,330,538

• 21 · Payments to affiliates

  total $170,055

• 22 · Depreciation, depletion and amortization

  total $3,763,065

• 23 · Insurance

  total $430,698

• 24a · Other expenses: PROVISION FOR LOAN LOSS

  total $15,285,311

• 24b · Other expenses: LOAN SERVICING

  total $5,575,853

• 24c · Other expenses: DEBIT CARD SERVICES

  total $3,751,177

• 24d · Other expenses: MISCELLANEOUS

  total $3,052,355

• 24e · All other expenses

  total $1,337,779

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $16,251,663 · end of year $21,910,900

• 2 · Savings and temporary cash investments

  beginning of year $153,590,812 · end of year $110,388,946

• 4 · Accounts receivable

  beginning of year $18,538,448 · end of year $35,762,398

• 7 · Other notes and loans receivable

  beginning of year $2,654,965,084 · end of year $2,851,244,739

• 9 · Prepaid expenses and deferred charges

  beginning of year $14,499,748 · end of year $26,341,200

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

  $97,456,570

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

  $35,991,855

• 10c · Land, buildings and equipment, net

  beginning of year $56,742,807 · end of year $61,464,715

• 11 · Investments: publicly traded securities

  beginning of year $189,070,316 · end of year $233,813,362

• 12 · Investments: other securities

  beginning of year $38,132,981 · end of year $39,289,477

• 15 · Other assets

  beginning of year $33,289,545 · end of year $33,793,600

• 17 · Accounts payable and accrued expenses

  beginning of year $41,425,232 · end of year $33,087,001

• 23 · Secured mortgages and notes payable

  beginning of year $15,000,000 · end of year $30,000,000

• 25 · Other liabilities

  beginning of year $2,750,310,081 · end of year $2,933,148,331

• 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 $368,346,091 · end of year $417,774,005

The filer's explanations (Part III)

PART I, LINE 4B

J. BENTON $496,694 G. HAMLETT $420,444 J. HARPER $844,261 J. HUNT $274,861 M. JONES $111,081 J. THIEMAN $240,556 THE FOLLOWING EXECUTIVES PARTICIPATED IN THE 457F PLAN. THE FOLLOWING REFLECTS THE DOLLAR AMOUNT THE CREDIT UNION CONTRIBUTED TOWARD EACH EXECUTIVE'S PLAN DURING 2024: J. BENTON $205,886 G. HAMLETT $58,500 J. HARPER $58,500 J. HUNT $58,500 M. JONES $58,500 J. THIEMAN $58,500