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Nonprofiteer
← RALLY CREDIT UNION

Form 990 for tax year 2023

Filed by RALLY CREDIT UNION.

Totals

Total revenue
$295,398,561
Total expenses
$241,636,768
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$272,529,425
Investment income
$22,869,136
Other revenue
$0
Total assets, end of year
$4,302,657,272
Total liabilities, end of year
$3,739,655,182
Net assets or fund balances, end of year
$563,002,090
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 ON LOANS

    total $209,115,673 · related or exempt $209,115,673

  • 2b · Program service revenue: FEE INCOME

    total $34,514,593 · related or exempt $34,319,802 · unrelated business $194,791

  • 2c · Program service revenue: INTERCHANGE INCOME

    total $22,100,538 · related or exempt $22,100,538

  • 2d · Program service revenue: INSURANCE & OTHER OPERATING INCOM

    total $6,746,899 · related or exempt $6,622,245 · unrelated business $124,654

  • 2e · Program service revenue: NON-OPERATING INCOME

    total $51,722 · related or exempt $51,722

  • 3 · Investment income

    total $22,417,564 · excluded $22,417,564

  • 7a · Gross sales of assets other than inventory

    other assets $451,572

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

    other assets $0

  • 7c · Gain or loss

    other assets $451,572

  • 7d · Net gain or loss

    total $451,572 · excluded $451,572

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $4,937,587

  • 7 · Other salaries and wages

    total $36,715,249

  • 8 · Pension plan contributions

    total $1,671,820

  • 9 · Other employee benefits

    total $9,691,637

  • 10 · Payroll taxes

    total $3,091,323

  • 11b · Fees: legal

    total $753,093

  • 11c · Fees: accounting

    total $245,500

  • 11g · Fees: other

    total $6,249,933

  • 12 · Advertising and promotion

    total $5,178,375

  • 13 · Office expenses

    total $7,424,152

  • 14 · Information technology

    total $10,971,774

  • 16 · Occupancy

    total $5,253,708

  • 17 · Travel

    total $512,929

  • 20 · Interest

    total $7,442,392

  • 22 · Depreciation, depletion and amortization

    total $6,964,882

  • 23 · Insurance

    total $590,644

  • 24a · Other expenses: DIVIDENDS PAID TO MEMBE

    total $78,923,695

  • 24b · Other expenses: PROVISION FOR CREDIT LO

    total $36,374,803

  • 24c · Other expenses: ATM/ITM/DEBIT

    total $13,279,576

  • 24d · Other expenses: LOAN SERVICING

    total $5,363,696

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $396,902,073 · end of year $485,142,653

  • 7 · Other notes and loans receivable

    beginning of year $3,548,745,441 · end of year $3,650,453,791

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,285,124 · end of year $3,530,115

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

    $134,784,679

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

    $63,626,412

  • 10c · Land, buildings and equipment, net

    beginning of year $70,655,398 · end of year $71,158,267

  • 12 · Investments: other securities

    beginning of year $2,511,512 · end of year $11,663,100

  • 15 · Other assets

    beginning of year $82,575,642 · end of year $80,709,346

  • 17 · Accounts payable and accrued expenses

    beginning of year $23,717,475 · end of year $13,019,263

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $150,000,000

  • 25 · Other liabilities

    beginning of year $3,566,071,733 · end of year $3,576,635,919

  • 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 $514,885,982 · end of year $563,002,090

Mission and programs · 2023

Mission

TO MEET THE FINANCIAL NEEDS AND GOALS OF OUR MEMBERS. PROVIDE SAVINGS, SHARE DRAFT AND SHARE CERTIFICATE ACCOUNTS AND AUTO, CONSUMER AND COMMERCIAL LOANS.

  • RALLY CREDIT UNION IS A COOPERATIVE, MEMBER-OWNED, NON-PROFIT PROVIDER OF FINANCIAL SERVICES TO MEMBERS. WE PROVIDE AUTO, HOME AND BUSINESS LOANS TO THE COMMUNITY. AS OF DECEMBER 31, 2023, THE TOTAL NUMBER OF LOANS ISSUED WAS 120,807 AND THE TOTAL OUTSTANDING BALANCE OF LOANS ISSUED WAS $3,708,064,244.

  • RALLY CREDIT UNION PROVIDES DEPOSIT ACCOUNTS TO MEMBERS. AS OF DECEMBER 31, 2023, THE TOTAL NUMBER OF MEMBERS WAS 221,386 WITH THE TOTAL NUMBER OF DEPOSIT ACCOUNTS ISSUED OF 400,661,AND TOTAL OUTSTANDING BALANCE OF DEPOSIT ACCOUNTS IN THE AMOUNT OF $3,576,635,920.

  • RALLY CREDIT UNION ALSO PROVIDES ATM & ITM ACCESS TO MEMBERS. DURING 2023, THE TOTAL NUMBER OF ATM & ITM TRANSACTIONS FOR OUR MEMBERS AT OUR MACHINES TOTALED 2,020,226.

As filed on the 2023 return.

Listed in Part VII

  • John Chapman

    CHAIR

    Total calculated
    $14,400
    From this org
    $14,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Thelma Garza Mandel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Theresa Gonzales

    SECRETARY

    Total calculated
    $13,200
    From this org
    $13,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Kendra Kinnison

    TREASURER

    Total calculated
    $12,300
    From this org
    $12,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Sylvia Martinez

    DIRECTOR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Pedro Rivera Jr

    DIRECTOR

    Total calculated
    $12,600
    From this org
    $12,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Richard B Stone

    DIRECTOR

    Total calculated
    $12,600
    From this org
    $12,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Gerald Villarreal

    VICE CHAIR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Robert Westrup

    DIRECTOR

    Total calculated
    $12,300
    From this org
    $12,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Gerry Morrow

    FORMER PRESIDENT/CEO

    Total calculated
    $606,408
    From this org
    $586,730
    From related orgs
    $0
    Other
    $19,678
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $432,071
    Bonus
    $150,000
    Other
    $4,659
    Deferred
    $13,200
    Nontaxable benefits
    $6,478
    Filer's total
    $606,408

  • Dana Sisk

    PRESIDENT/CEO

    Total calculated
    $775,670
    From this org
    $707,018
    From related orgs
    $0
    Other
    $68,652
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $639,812
    Bonus
    $50,000
    Other
    $17,206
    Deferred
    $41,207
    Nontaxable benefits
    $27,445
    Filer's total
    $775,670

  • Carrie Huff

    CHIEF FINANCIAL OFFICER

    Total calculated
    $397,785
    From this org
    $343,643
    From related orgs
    $0
    Other
    $54,142
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $306,627
    Bonus
    $35,000
    Other
    $2,016
    Deferred
    $43,082
    Nontaxable benefits
    $11,060
    Filer's total
    $397,785

  • Daniel Dibble

    CHIEF LENDING OFFICER

    Total calculated
    $486,317
    From this org
    $435,411
    From related orgs
    $0
    Other
    $50,906
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $409,283
    Bonus
    $25,000
    Other
    $1,128
    Deferred
    $36,821
    Nontaxable benefits
    $14,085
    Filer's total
    $486,317

  • Shannon Srp

    CHIEF TECHNOLOGY OFFICER

    Total calculated
    $362,036
    From this org
    $291,856
    From related orgs
    $0
    Other
    $70,180
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $256,116
    Bonus
    $35,000
    Other
    $740
    Deferred
    $44,023
    Nontaxable benefits
    $26,157
    Filer's total
    $362,036

  • Roman Escobar

    CHIEF REAL ESTATE OFFICER

    Total calculated
    $472,361
    From this org
    $418,883
    From related orgs
    $0
    Other
    $53,478
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $383,404
    Bonus
    $35,000
    Other
    $479
    Deferred
    $39,442
    Nontaxable benefits
    $14,036
    Filer's total
    $472,361

  • Cynthia Ramos

    CHIEF OPERATIONS OFFICER

    Total calculated
    $501,380
    From this org
    $461,312
    From related orgs
    $0
    Other
    $40,068
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $423,025
    Bonus
    $35,000
    Other
    $3,287
    Deferred
    $28,299
    Nontaxable benefits
    $11,769
    Filer's total
    $501,380

  • Virginia Whitham

    CHIEF HUMAN RESOURCES OFFICER

    Total calculated
    $432,701
    From this org
    $386,061
    From related orgs
    $0
    Other
    $46,640
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $350,053
    Bonus
    $35,000
    Other
    $1,008
    Deferred
    $33,167
    Nontaxable benefits
    $13,473
    Filer's total
    $432,701

  • Ashley Smith

    CHIEF MARKETING OFFICER

    Total calculated
    $420,757
    From this org
    $362,897
    From related orgs
    $0
    Other
    $57,860
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $326,958
    Bonus
    $35,000
    Other
    $939
    Deferred
    $33,429
    Nontaxable benefits
    $24,431
    Filer's total
    $420,757

  • Clare Fowler

    FORMER SVP OPERATIONS TECHNOLOGY

    Total calculated
    $292,257
    From this org
    $262,952
    From related orgs
    $0
    Other
    $29,305
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $240,750
    Bonus
    $20,000
    Other
    $2,202
    Deferred
    $10,356
    Nontaxable benefits
    $18,949
    Filer's total
    $292,257

  • Richard Platz

    FORMER SVP CONSUMER LENDING

    Total calculated
    $189,915
    From this org
    $173,121
    From related orgs
    $0
    Other
    $16,794
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,512
    Bonus
    $15,000
    Other
    $2,609
    Deferred
    $7,086
    Nontaxable benefits
    $9,708
    Filer's total
    $189,915

  • Jamie Aguilar

    VP MORTGAGE ORIGINATION

    Total calculated
    $232,313
    From this org
    $207,034
    From related orgs
    $0
    Other
    $25,279
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $196,724
    Bonus
    $10,000
    Other
    $310
    Deferred
    $8,504
    Nontaxable benefits
    $16,775
    Filer's total
    $232,313

  • Gerald Pennington

    VP INDIRECT AUTO LENDING

    Total calculated
    $289,877
    From this org
    $249,268
    From related orgs
    $0
    Other
    $40,609
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $233,513
    Bonus
    $15,000
    Other
    $755
    Deferred
    $21,304
    Nontaxable benefits
    $19,305
    Filer's total
    $289,877

  • Anita Cadena

    VP AUDIT COMPLIANCE

    Total calculated
    $233,600
    From this org
    $206,947
    From related orgs
    $0
    Other
    $26,653
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $191,432
    Bonus
    $15,000
    Other
    $515
    Deferred
    $8,549
    Nontaxable benefits
    $18,104
    Filer's total
    $233,600

  • Terri Young

    VP BRANCH OPERATIONS

    Total calculated
    $221,953
    From this org
    $203,140
    From related orgs
    $0
    Other
    $18,813
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $191,703
    Bonus
    $10,000
    Other
    $1,437
    Deferred
    $8,128
    Nontaxable benefits
    $10,685
    Filer's total
    $221,953

  • Maria Karaca

    SVP COMMERCIAL LENDING

    Total calculated
    $212,685
    From this org
    $194,404
    From related orgs
    $0
    Other
    $18,281
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $179,113
    Bonus
    $15,000
    Other
    $291
    Deferred
    $7,779
    Nontaxable benefits
    $10,502
    Filer's total
    $212,685

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 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
IN TAX YEAR 2023, RALLY CREDIT UNION REIMBURSED TRAVEL EXPENSES FOR THE COMPANIONS TO DANA SISK, JOHN CHAPMAN, GERALD VILLARREAL, KENDRA KINNISON, THERESA GONZALES, RICHARD STONE, THELMA GARZA MANDEL, SYLVIA MARTINEZ, PEDRO RIVIERA JR, AND ROBERT WESTRUP. THE AMOUNTS ARE INCLUDED IN REPORTABLE COMPENSATION IN PART VII AND SCHEDULE J.
PART I, LINE 4B
THE FOLLOWING INDIVIDUALS PARTICIPATED IN A NON-QUALIFIED RETIREMENT PLAN IN 2023 SPONSORED BY RALLY CREDIT UNION. THE BENEFIT ACCRUAL AMOUNTS AND DISTRIBUTION AMOUNTS ARE INCLUDED IN REPORTABLE COMPENSATION IN PART VII AND SCHEDULE J: ASHLEY SMITH - $20,229 BENEFIT ACCRUAL, $95,685 DISTRIBUTION DANA SISK - $29,177 BENEFIT ACCRUAL SHANNON SRP - $33,916 BENEFIT ACCRUAL DANIEL DIBBLE - $26,773 BENEFIT ACCRUAL, $126,639 DISTRIBUTION ROMAN ESCOBAR - $26,242 BENEFIT ACCRUAL, $124,128 DISTRIBUTION CLARE FOWLER - $7,152 BENEFIT ACCRUAL, $58,155 DISTRIBUTION GERALD PENNINGTON - $11,023 BENEFIT ACCRUAL, $52,139 DISTRIBUTION CYNTHIA RAMOS - $15,560 BENEFIT ACCRUAL, $124,757 DISTRIBUTION CARRIE HUFF - $40,050 BENEFIT ACCRUAL, $49,615 DISTRIBUTION VIRGINIA WHITHAM - $21,757 BENEFIT ACCRUAL, $102,915 DISTRIBUTION

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
17 September 2024
IRS schema version
2023v5.1
Source object
202402749349301260

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