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Nonprofiteer
← UNIVERSITY CREDIT UNION

Form 990 for tax year 2022

Filed by UNIVERSITY CREDIT UNION.

Totals

Total revenue
$21,065,584
Total expenses
$17,883,590
Contributions and grants received
$0
Grants paid
$32,750
Program service revenue
$19,781,608
Investment income
$1,283,976
Other revenue
$0
Total assets, end of year
$459,586,136
Total liabilities, end of year
$423,242,537
Net assets or fund balances, end of year
$36,343,599
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/FEE INCOME FROM MEMBERS

    total $15,917,918 · related or exempt $15,904,455 · unrelated business $13,463

  • 2b · Program service revenue: CHECK CARD

    total $2,140,128 · related or exempt $2,140,128

  • 2c · Program service revenue: OVERDRAFT FEES

    total $1,271,284 · related or exempt $1,271,284

  • 2d · Program service revenue: OTHER INCOME

    total $268,073 · related or exempt $224,027 · unrelated business $44,046

  • 2e · Program service revenue: ATM FEES

    total $184,205 · related or exempt $106,961 · unrelated business $77,244

  • 3 · Investment income

    total $1,173,974 · excluded $1,173,974

  • 7a · Gross sales of assets other than inventory

    securities $215,269 · other assets $5,884,512

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

    securities $184,613 · other assets $5,805,166

  • 7c · Gain or loss

    securities $30,656 · other assets $79,346

  • 7d · Net gain or loss

    total $110,002 · related or exempt $110,002

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $32,750

  • 4 · Benefits paid to or for members

    total $815,735

  • 5 · Compensation of officers, directors and key employees

    total $1,249,152

  • 7 · Other salaries and wages

    total $5,477,905

  • 8 · Pension plan contributions

    total $496,816

  • 9 · Other employee benefits

    total $1,000,556

  • 10 · Payroll taxes

    total $502,427

  • 11b · Fees: legal

    total $70,504

  • 11c · Fees: accounting

    total $32,958

  • 11g · Fees: other

    total $399,967

  • 12 · Advertising and promotion

    total $634,890

  • 16 · Occupancy

    total $656,632

  • 17 · Travel

    total $105,780

  • 20 · Interest

    total $433,857

  • 22 · Depreciation, depletion and amortization

    total $777,100

  • 23 · Insurance

    total $15,066

  • 24a · Other expenses: OPERATIONS EXPENSE

    total $4,431,229

  • 24b · Other expenses: LOAN SERVICE EXPENSE

    total $412,983

  • 24c · Other expenses: TRAINING AND OTHER G&A

    total $185,342

  • 24d · Other expenses: PROVISION FOR LOAN LOSS

    total $151,941

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,127,884 · end of year $17,100,372

  • 5 · Loans and receivables from officers and key people

    beginning of year $1,165,005 · end of year $3,011,879

  • 7 · Other notes and loans receivable

    beginning of year $351,335,862 · end of year $380,906,575

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

    $15,678,192

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

    $8,712,622

  • 10c · Land, buildings and equipment, net

    beginning of year $6,685,424 · end of year $6,965,570

  • 12 · Investments: other securities

    beginning of year $43,896,105 · end of year $41,995,237

  • 15 · Other assets

    beginning of year $9,398,115 · end of year $9,606,503

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,498,373 · end of year $2,652,444

  • 21 · Escrow or custodial account liability

    beginning of year $1,953,932 · end of year $1,986,508

  • 23 · Secured mortgages and notes payable

    beginning of year $6,500,000 · end of year $37,000,000

  • 25 · Other liabilities

    beginning of year $374,531,790 · end of year $381,603,585

  • 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 $39,124,300 · end of year $36,343,599

Mission and programs · 2022

Mission

HERE FOR U - DEDICATED TO PROMOTE FINANCIAL WELL-BEING FOR YOU AND YOUR COMMUNITY.

  • THE CREDIT UNION HAS 28,401 MEMBERS AS OF 12/31/2022. MEMBERS HAVE ACCESS TO A WIDE VARIETY OF LOW COST, HIGH QUALITY SERVICES.

As filed on the 2022 return.

Listed in Part VII

  • Pickering Tonya

    DIRECTOR

    Total calculated
    $675
    From this org
    $675
    From related orgs
    $0
    Other
    $0
    Hours/week
    1
  • Uhuad Betsy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Henderson Jon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Harr Lucy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Whitehill Ency

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1
  • Borgman Richard

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1
  • Cheney Carolyn

    SECRETARY

    Total calculated
    $0
    Hours/week
    1
  • Ouellette Renee D

    PRESIDENT & CEO

    Total calculated
    $406,128
    From this org
    $351,591
    From related orgs
    $0
    Other
    $54,537
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $325,800
    Bonus
    $12,397
    Other
    $13,394
    Deferred
    $27,084
    Nontaxable benefits
    $27,453
    Filer's total
    $406,128
  • White-Rideout Deb

    EXEC VICE PRESIDENT

    Total calculated
    $257,808
    From this org
    $213,399
    From related orgs
    $0
    Other
    $44,409
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $202,855
    Bonus
    $8,717
    Other
    $1,827
    Deferred
    $16,956
    Nontaxable benefits
    $27,453
    Filer's total
    $257,808
  • Williams Robert

    CHIEF FINANCIAL OFFICER

    Total calculated
    $219,485
    From this org
    $177,813
    From related orgs
    $0
    Other
    $41,672
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $171,170
    Bonus
    $6,309
    Other
    $334
    Deferred
    $14,219
    Nontaxable benefits
    $27,453
    Filer's total
    $219,485
  • Gleason April

    CHIEF LENDING OFFICER

    Total calculated
    $201,620
    From this org
    $161,521
    From related orgs
    $0
    Other
    $40,099
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,737
    Bonus
    $11,926
    Other
    $858
    Deferred
    $12,903
    Nontaxable benefits
    $27,196
    Filer's total
    $201,620
  • Byram Eileen

    CHIEF RISK OFFICER

    Total calculated
    $190,917
    From this org
    $151,219
    From related orgs
    $0
    Other
    $39,698
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,557
    Bonus
    $6,655
    Other
    $1,007
    Deferred
    $11,469
    Nontaxable benefits
    $28,229
    Filer's total
    $190,917
  • Beck Stephanie

    VP OF MARKETING

    Total calculated
    $151,174
    From this org
    $139,289
    From related orgs
    $0
    Other
    $11,885
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,253
    Bonus
    $6,790
    Other
    $246
    Deferred
    $10,821
    Nontaxable benefits
    $1,064
    Filer's total
    $151,174
  • Carlisle C Jason

    MORTGAGE LOAN ORIGINATOR

    Total calculated
    $151,374
    From this org
    $136,387
    From related orgs
    $0
    Other
    $14,987
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $25,510
    Bonus
    $110,841
    Other
    $36
    Deferred
    $9,558
    Nontaxable benefits
    $5,429
    Filer's total
    $151,374
  • Freiwald Patricia

    FINANCIAL ADVISOR

    Total calculated
    $154,540
    From this org
    $134,953
    From related orgs
    $0
    Other
    $19,587
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $80,042
    Bonus
    $54,720
    Other
    $191
    Deferred
    $5,011
    Nontaxable benefits
    $14,576
    Filer's total
    $154,540
  • Rucker Kyle

    MORTGAGE ORIGINATION MANAGER

    Total calculated
    $151,754
    From this org
    $125,263
    From related orgs
    $0
    Other
    $26,491
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $79,227
    Bonus
    $45,929
    Other
    $107
    Deferred
    $9,973
    Nontaxable benefits
    $16,518
    Filer's total
    $151,754
  • Young Stacey

    VP OF MEMBER SVCS-THRU NOV

    Total calculated
    $144,230
    From this org
    $119,184
    From related orgs
    $0
    Other
    $25,046
    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. 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 · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

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

Provenance

Return type
form_990
Tax year
2022
Filed
22 August 2023
IRS schema version
2022v5.0
Source object
202342349349300624

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