Membersource Credit Union

Organization Overview

Membersource Credit Union is located in Houston, TX. The organization was established in 1976. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Membersource 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, Membersource Credit Union generated $9.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $8.6m during the year ending 12/2021. 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

MEMBERSOURCE CREDIT UNION WILL CONSISTENTLY MEET MEMBERS NEEDS BY PROVIDING PERSONAL QUALITY SERVICE IN A PROFESSIONAL ENVIRONMENT THROUGH MOTIVATED EMPLOYEES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SAVINGS, CDS, CHECKING & IRAS - 27,001 ACCOUNTS TOTALING $199,937,710.


CONSUMER LOANS - 12,045 LOANS TOTALING $108,022,660


REAL ESTATE/MORTGAGE LOANS - 438 LOANS TOTALING $46,479,141


INVESTMENT INCOME


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Board, Officers & Key Employees

Name (title)Compensation
Bobbi Phelps
Vp-Branch Op
$0
Samuel Phelps
Vp-It
$0
Leon Davis
CFO
$0
Kelly Brink
Vp-Clo
$0
Diana Fisher
Vp-Marketing
$0
Kenneth Harrington
Presidentceo
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Insperity Inc
Employee Leasing
$1,607,844
Rob Caesar Technologies
It Consulting
$119,674
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$9,236,847
Investment income $524,330
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 $9,847,092

Peer Organizations

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