Form 990 for tax year 2023
Filed by OUCU FINANCIAL CREDIT UNION INC.
Totals
- Total revenue
- $28,784,016
- Total expenses
- $24,978,792
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $25,403,533
- Investment income
- $3,380,483
- Other revenue
- $0
- Total assets, end of year
- $510,244,026
- Total liabilities, end of year
- $462,350,083
- Net assets or fund balances, end of year
- $47,893,943
- Program services expenses (Part IX)
- $24,978,792
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $24,978,792
Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
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 $19,012,262 · related or exempt $19,012,262
-
2b · Program service revenue: FEES & COMMISSIONS
total $5,013,461 · related or exempt $4,965,241 · unrelated business $48,220
-
2c · Program service revenue: OTHER INCOME
total $1,377,810 · related or exempt -$86,575 · unrelated business $1,464,385
-
3 · Investment income
total $3,380,483 · excluded $3,380,483
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $2,568,351 · program services $2,568,351
-
7 · Other salaries and wages
total $5,845,347 · program services $5,845,347
-
8 · Pension plan contributions
total $612,783 · program services $612,783
-
9 · Other employee benefits
total $1,133,205 · program services $1,133,205
-
10 · Payroll taxes
total $549,500 · program services $549,500
-
11b · Fees: legal
total $21,264 · program services $21,264
-
11c · Fees: accounting
total $197,549 · program services $197,549
-
11g · Fees: other
total $423,470 · program services $423,470
-
12 · Advertising and promotion
total $641,646 · program services $641,646
-
13 · Office expenses
total $2,532,383 · program services $2,532,383
-
16 · Occupancy
total $561,547 · program services $561,547
-
17 · Travel
total $248,699 · program services $248,699
-
20 · Interest
total $4,697,223 · program services $4,697,223
-
22 · Depreciation, depletion and amortization
total $825,628 · program services $825,628
-
24a · Other expenses: PROVISION FOR LOAN LOSS
total $1,409,020 · program services $1,409,020
-
24b · Other expenses: ATM/DEBIT CARD EXPENSE
total $1,174,961 · program services $1,174,961
-
24c · Other expenses: LOAN SERVICING
total $838,692 · program services $838,692
-
24d · Other expenses: MISCELLANEOUS
total $697,524 · program services $697,524
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,834,112 · end of year $3,774,010
-
2 · Savings and temporary cash investments
beginning of year $10,858,787 · end of year $44,012,135
-
4 · Accounts receivable
beginning of year $361,488,479 · end of year $375,047,901
-
10a · Land, buildings and equipment: cost or other basis
$16,221,131
-
10b · Land, buildings and equipment: accumulated depreciation
$7,341,106
-
10c · Land, buildings and equipment, net
beginning of year $8,906,023 · end of year $8,880,025
-
12 · Investments: other securities
beginning of year $74,038,629 · end of year $64,892,304
-
15 · Other assets
beginning of year $8,266,553 · end of year $13,637,651
-
17 · Accounts payable and accrued expenses
beginning of year $3,890,652 · end of year $5,718,682
-
19 · Deferred revenue
end of year $2,243,630
-
23 · Secured mortgages and notes payable
end of year $60,000,000
-
24 · Unsecured notes and loans payable
end of year $2,378,000
-
25 · Other liabilities
beginning of year $421,017,497 · end of year $392,009,771
-
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 $42,484,434 · end of year $47,893,943
Mission and programs · 2023
Mission
SEE SCHEDULE O
Activities or mission (Part I)
2
-
THE OUCU FINANCIAL CREDIT UNION HAS PROVIDED OVER 25,000+ MEMBERS WITH SAFETY AND SOUNDESS OF THEIR DEPOSITS MADE TO US, AS SHOWN BY GROWTH IN DEPOSIT BALANCES FROM THE PREVIOUS YEAR. IN ADDITION TO HAVING OFFERED OUR MEMBERS THE SAFETY OF THEIR SAVINGS, WE ALSO HAVE CONTINUED TO OFFER A VAST ARRAY OF ADDITIONAL PRODUCTS AND SERVICES TO HELP PROMOTE THEIR FINANCIAL WELL-BEING INCLUDING FIRST AND SECOND MORTGAGES, AUTO LOANS, SECURED AND UNSECURED LOANS, CREDIT CARDS, AND MEMBER BUSINESS LOANS. FREE SEMINARS TO EDUCATE OUR MEMBERS ON SUCH TOPICS AS HOMEBUYING, IRA'S, WILLS & TRUSTS, LONG-TERM CARE INSURANCE, AND OTHER FINANCIAL RELATED TOPICS ARE ANOTHER BENEFIT WE PROVIDE TO HELP ENSURE MEMBERS REACH THEIR FINANCIAL GOALS. WE ARE DEDICATED TO CONTINUE OFFERING OUR MEMBERS THESE PRODUCTS AND SERVICES IN THE FUTURE AND UPGRADE OUR PRODUCTS AND SERVICES TO BEST SERVE THEM AS NEEDED.
Expenses $24,978,792
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Jennifer L'HeureuxJENNIFER L'HEUREUX
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Barbara ReevesBARBARA REEVES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Chuck CulpCHUCK CULP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Karen DeardorggKAREN DEARDORGG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Travis DavidsonTRAVIS DAVIDSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Robert CourtneyROBERT COURTNEY
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Warren JeffersWARREN JEFFERS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Thomas LuceTHOMAS LUCE
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
William T PerryWILLIAM T PERRY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Cory CorriganCORY CORRIGAN
CEO
- Total calculated
- $580,204
- From this org
- $540,290
- From related orgs
- $0
- Other
- $39,914
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $380,874
- Bonus
- $159,416
- Other
- $0
- Deferred
- $30,000
- Nontaxable benefits
- $9,914
- Filer's total
- $580,204
-
Danita SharpDANITA SHARP
COO
- Total calculated
- $267,365
- From this org
- $244,865
- From related orgs
- $0
- Other
- $22,500
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $221,250
- Bonus
- $23,615
- Other
- $0
- Deferred
- $22,500
- Nontaxable benefits
- $0
- Filer's total
- $267,365
-
Brian Smith-VandergriffBRIAN SMITH-VANDERGRIFF
CFO
- Total calculated
- $484,926
- From this org
- $456,779
- From related orgs
- $0
- Other
- $28,147
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $422,577
- Bonus
- $34,202
- Other
- $0
- Deferred
- $22,500
- Nontaxable benefits
- $5,647
- Filer's total
- $484,926
-
Jean BlairJEAN BLAIR
VP OF TECHNOLOGY
- Total calculated
- $249,500
- From this org
- $222,505
- From related orgs
- $0
- Other
- $26,995
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $196,515
- Bonus
- $25,990
- Other
- $0
- Deferred
- $17,449
- Nontaxable benefits
- $9,546
- Filer's total
- $249,500
-
Aaron BowersockAARON BOWERSOCK
SYSTEM ADMINISTRATOR DATA MGMT ANALYST
- Total calculated
- $118,188
- From this org
- $101,937
- From related orgs
- $0
- Other
- $16,251
- Hours/week
- 40
-
Audrey DickenAUDREY DICKEN
VP OF MARKETING
- Total calculated
- $224,865
- From this org
- $200,459
- From related orgs
- $0
- Other
- $24,406
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $178,768
- Bonus
- $21,691
- Other
- $0
- Deferred
- $18,503
- Nontaxable benefits
- $5,903
- Filer's total
- $224,865
-
Samantha HibbardSAMANTHA HIBBARD
AVP BRANCH OPERATIONS
- Total calculated
- $110,899
- From this org
- $101,011
- From related orgs
- $0
- Other
- $9,888
- Hours/week
- 40
-
Tiffany SimsTIFFANY SIMS
COMMERCIAL LENDER
- Total calculated
- $117,561
- From this org
- $110,888
- From related orgs
- $0
- Other
- $6,673
- Hours/week
- 40
-
Debra WaylandDEBRA WAYLAND
VP OF ORGANIZATION DEVELOPMENT & HUMAN RESOURCES
- Total calculated
- $203,746
- From this org
- $187,237
- From related orgs
- $0
- Other
- $16,509
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $167,276
- Bonus
- $19,961
- Other
- $0
- Deferred
- $10,417
- Nontaxable benefits
- $6,092
- Filer's total
- $203,746
-
Romney GarnerROMNEY GARNER
SENIOR FINANCIAL ADVISOR
- Total calculated
- $524,533
- From this org
- $499,736
- From related orgs
- $0
- Other
- $24,797
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $99,479
- Bonus
- $400,257
- Other
- $0
- Deferred
- $22,500
- Nontaxable benefits
- $2,297
- Filer's total
- $524,533
-
Laura HumphreysLAURA HUMPHREYS
MORTGAGE & LOAN SERVICING MANAGER
- Total calculated
- $130,832
- From this org
- $123,213
- From related orgs
- $0
- Other
- $7,619
- Hours/week
- 40
-
Tracey JamesTRACEY JAMES
VP OF RISK MANAGEMENT
- Total calculated
- $203,208
- From this org
- $177,246
- From related orgs
- $0
- Other
- $25,962
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $158,602
- Bonus
- $18,644
- Other
- $0
- Deferred
- $19,763
- Nontaxable benefits
- $6,199
- Filer's total
- $203,208
-
Michele MarraMICHELE MARRA
MANAGER BUSINESS ACCOUNTING & TAX SERVICES
- Total calculated
- $120,696
- From this org
- $112,202
- From related orgs
- $0
- Other
- $8,494
- Hours/week
- 40
-
Laura PrattLAURA PRATT
MARKETING MANAGER
- Total calculated
- $156,352
- From this org
- $134,001
- From related orgs
- $0
- Other
- $22,351
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $118,598
- Bonus
- $15,403
- Other
- $0
- Deferred
- $14,178
- Nontaxable benefits
- $8,173
- Filer's total
- $156,352
-
Donna RussellDONNA RUSSELL
BUSINESS SERVICES MANAGER
- Total calculated
- $142,682
- From this org
- $122,588
- From related orgs
- $0
- Other
- $20,094
- Hours/week
- 40
-
Philip MeyerPHILIP MEYER
FORMER CEO
- Total calculated
- $211,097
- From this org
- $211,097
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
Schedule J breakdown matched by us
- Base
- $141,223
- Bonus
- $69,874
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $211,097
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
None.
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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202433239349300703
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