Fivepoint Credit Union

Organization Overview

Fivepoint Credit Union is located in Nederland, TX. The organization was established in 1976. According to its NTEE Classification (O51) the organization is classified as: Youth Community Service Clubs, under the broad grouping of Youth Development and related organizations. As of 12/2021, Fivepoint Credit Union employed 249 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Fivepoint Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2021, Fivepoint Credit Union generated $45.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $40.1m during the year ending 12/2021. While expenses have increased by 3.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE FINANCIAL SERVICES TO OUR MEMBERSHIP WITH VARIOUS LOAN AND DEPOSIT PRODUCTS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

INTEREST INCURRED ON MEMBER DEPOSITS APPROXIMATED $3,712,000 DURING THE YEAR ENDED DECEMBER 31, 2021.


ATM SERVICES PROVIDED TO THE MEMBERSHIP REPRESENTED $2,881,899 OF TOTAL EXPENSES INCURRED DURING THE YEAR ENDED DECEMBER 31, 2021.


HOME BANKING PROVIDED TO THE MEMBERSHIP REPRESENTED A COST OF APPROXIMATELY $1,231,785 INCURRED DURING THE YEAR ENDED DECEMBER 31, 2021.


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Board, Officers & Key Employees

Name (title)Compensation
Erik Shaw
CEO
$471,190
Kenneth Miller
Executive Vice President
$330,785
Matt Borel
Financial Advisor
$278,225
Jennifer Webb
Svp, Lending
$274,850
Kristen Bellanger
Svp, Operations
$261,090
Vicki Kelley
Svp, Human Resources
$245,912

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Construction Zone Of Setx
Construction
$2,530,478
Ncr Corporation
Online Banking Services
$1,307,042
Softchoice Corporation
It Vmware Support
$644,664
Ann Lee And Associates Ltd
Marketing Firm
$1,018,031
Pulse Eft Association
Debit Card Processor
$662,460
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$44,163,022
Investment income $1,660,645
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $45,891,302

Grants Awarded

Over the last fiscal year, Fivepoint Credit Union has awarded $69,100 in support to 2 organizations.

Grant RecipientAmount

AMERICAN CANCER SOCIETY

PURPOSE: CHARITABLE DONATION

$62,630

AMERICAN HEART ASSOCIATION

Org PageRecipient Profile

Dallas, TX

PURPOSE: CHARITABLE DONATION

$6,470
View Grant Profile

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