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Nonprofiteer
← PCM CREDIT UNION

Form 990 for tax year 2023

Filed by PCM CREDIT UNION.

Totals

Total revenue
$18,921,575
Total expenses
$17,920,582
Contributions and grants received
$21,242
Grants paid
$98,656
Program service revenue
$14,999,285
Investment income
$3,888,959
Other revenue
$12,089
Total assets, end of year
$450,113,411
Total liabilities, end of year
$407,445,244
Net assets or fund balances, end of year
$42,668,167
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.

  • 1c · Fundraising events

    $21,242

  • 2a · Program service revenue: INTEREST ON LOANS

    total $12,368,480 · related or exempt $12,368,480

  • 2b · Program service revenue: INTERCHANGE INCOME

    total $1,371,594 · related or exempt $1,371,594

  • 2c · Program service revenue: INSURANCE/WARRANTY SALES

    total $772,871 · related or exempt $694,103 · unrelated business $78,768

  • 2d · Program service revenue: FEE INCOME

    total $478,551 · related or exempt $478,551

  • 2f · All other program service revenue

    total $7,789 · related or exempt $7,789

  • 3 · Investment income

    total $3,848,958 · excluded $3,848,958

  • 6a · Gross rents

    real property $4,800

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $4,800

  • 6d · Net rental income or loss

    total $4,800 · excluded $4,800

  • 7a · Gross sales of assets other than inventory

    securities $2,829,287 · other assets $140,362

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

    securities $2,784,494 · other assets $145,154

  • 7c · Gain or loss

    securities $44,793 · other assets -$4,792

  • 7d · Net gain or loss

    total $40,001 · excluded $40,001

  • 8a · Fundraising events: gross income

    $26,240

  • 8a · Fundraising events: contributions included on line 1c

    $21,242

  • 8b · Fundraising events: direct expenses

    $27,181

  • 8c · Net income from fundraising events

    total -$941 · excluded -$941

  • 9a · Gaming: gross income

    $8,230

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $8,230 · excluded $8,230

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $95,656

  • 2 · Grants to domestic individuals

    total $3,000

  • 5 · Compensation of officers, directors and key employees

    total $666,974

  • 7 · Other salaries and wages

    total $2,601,491

  • 8 · Pension plan contributions

    total $158,719

  • 9 · Other employee benefits

    total $583,158

  • 10 · Payroll taxes

    total $251,038

  • 11c · Fees: accounting

    total $33,978

  • 11g · Fees: other

    total $119,256

  • 12 · Advertising and promotion

    total $55,202

  • 13 · Office expenses

    total $228,021

  • 14 · Information technology

    total $476,140

  • 16 · Occupancy

    total $229,145

  • 17 · Travel

    total $16,421

  • 19 · Conferences, conventions and meetings

    total $129,367

  • 20 · Interest

    total $1,774,966

  • 22 · Depreciation, depletion and amortization

    total $251,095

  • 23 · Insurance

    total $70,525

  • 24a · Other expenses: DIVIDENDS ON MEMBER SHA

    total $7,715,342

  • 24b · Other expenses: LOAN SERVICING EXPENSE

    total $1,079,266

  • 24c · Other expenses: DEBIT CARD EXPENSE

    total $565,448

  • 24d · Other expenses: PROVISION FOR LOAN LOSS

    total $375,406

  • 24e · All other expenses

    total $440,968

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,131,089 · end of year $2,769,556

  • 2 · Savings and temporary cash investments

    beginning of year $19,248,375 · end of year $9,564,217

  • 4 · Accounts receivable

    beginning of year $128,312 · end of year $1,016,707

  • 7 · Other notes and loans receivable

    beginning of year $296,365,214 · end of year $319,980,701

  • 9 · Prepaid expenses and deferred charges

    beginning of year $320,204 · end of year $280,442

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

    $8,810,937

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

    $2,898,596

  • 10c · Land, buildings and equipment, net

    beginning of year $6,100,065 · end of year $5,912,341

  • 11 · Investments: publicly traded securities

    beginning of year $54,764,513 · end of year $83,504,573

  • 12 · Investments: other securities

    beginning of year $11,663,886 · end of year $11,873,904

  • 15 · Other assets

    beginning of year $3,412,508 · end of year $15,210,970

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,910,927 · end of year $5,970,846

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $173,323

  • 23 · Secured mortgages and notes payable

    beginning of year $27,500,000 · end of year $54,698,127

  • 25 · Other liabilities

    beginning of year $320,107,428 · end of year $346,602,948

  • 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 $5,000,000 · end of year $5,000,000

  • 31 · Retained earnings, endowment or other funds

    beginning of year $35,615,811 · end of year $37,668,167

Mission and programs · 2023

Mission

PCM CREDIT UNION IS A STRONG FINANCIAL COOPERATIVE THAT GOES ABOVE AND BEYOND PROVIDING MEMBER-OWNERS BENEFITS AND ADVANTAGES OVER OTHER FINANCIAL INSTITUTIONS.

  • WE FUNDED 2,854 LOANS DURING 2023. WE HAD 2,274 MORTGAGES/HOME EQUITY LINES, 5,165 CONSUMER LOANS. WE ALSO HAD 4,487 CREDIT CARDS ACCOUNTS WITH OUR MEMBERS AT 12/31.

  • WE HAVE DEPOSIT, TRANSACTION AND INVESTMENT ACCOUNTS WITH 14,446 MEMBERS AT 12/31/23. DURING 2023, WE OPENED 5,920 NEW DEPOSIT, TRANSACTION AND INVESTMENT ACCOUNTS.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dave Murray

    CHAIRPERSON

    Total calculated
    $1,351
    From this org
    $1,351
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jeff Burich

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Marlis Klimek

    VICE CHAIRPERSON (THRU MARCH 2023)

    Total calculated
    $0
    Hours/week
    1

  • Robert Hatszegi

    TREASURER

    Total calculated
    $1,849
    From this org
    $1,849
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Deb Barlament

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Phillip Giese

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Karen Sylvester

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jim Zittlow

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Shelly Mellenberger

    PRESIDENT

    Total calculated
    $253,454
    From this org
    $227,326
    From related orgs
    $0
    Other
    $26,128
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $209,854
    Bonus
    $17,472
    Other
    $0
    Deferred
    $16,767
    Nontaxable benefits
    $9,361
    Filer's total
    $253,454

  • Danny L Wollin

    PRESIDENT (THRU APRIL 2023)

    Total calculated
    $277,432
    From this org
    $242,704
    From related orgs
    $0
    Other
    $34,728
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $206,141
    Bonus
    $36,563
    Other
    $0
    Deferred
    $18,213
    Nontaxable benefits
    $16,515
    Filer's total
    $277,432

  • Samantha Isted

    VICE PRESIDENT OF FINANCE

    Total calculated
    $132,888
    From this org
    $113,112
    From related orgs
    $0
    Other
    $19,776
    Hours/week
    40

  • Joseph Wollin

    VICE PRESIDENT LENDING

    Total calculated
    $155,352
    From this org
    $125,385
    From related orgs
    $0
    Other
    $29,967
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $115,791
    Bonus
    $9,594
    Other
    $0
    Deferred
    $9,850
    Nontaxable benefits
    $20,117
    Filer's total
    $155,352

  • Lesley Enz

    SENIOR DIRECTOR OF MARKETING

    Total calculated
    $126,835
    From this org
    $107,234
    From related orgs
    $0
    Other
    $19,601
    Hours/week
    40

  • Christina Connell

    VICE PRESIDENT OF HUMAN RESOURCES

    Total calculated
    $125,536
    From this org
    $108,642
    From related orgs
    $0
    Other
    $16,894
    Hours/week
    40

  • George Rosendaul

    IT DIRECTOR

    Total calculated
    $115,186
    From this org
    $101,119
    From related orgs
    $0
    Other
    $14,067
    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 · Independent compensation consultant
  • 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

The filer's explanations (Part III)

PART I, LINE 1A
ALL BOARD MEMBERS ARE ELIGIBLE TO USE THE TRAVEL FOR COMPANIONS PROGRAM. IN YEARS OF USE, THE ORGANIZATION WILL ISSUE A 1099-NEC AND THE COMPENSATION IS CONSIDERED TAXABLE COMPENSATION. DURING 2023, THE FOLLOWING BOARD MEMBERS RECEIVED THE TRAVEL FOR COMPANIONS BENEFIT: - DAVE MURRAY $1,351 - ROBERT HATSZEGI $1,849

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
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202443209349309944

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