Arrha Credit Union
- Assets
- $138.9m
- Revenue
- $6.0m
- Investments
- $17.9m
- Employees
- 30
- Location
- Springfield, MA
- Founding
- 09/1934
- Data as of
- 12/2023
- EIN
- 04-1859690
Organization Overview
Arrha Credit Union is located in Springfield, MA. The organization was established in 1934. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Arrha Credit Union employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arrha 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 12/2023, Arrha Credit Union generated $6.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $5.7m during the year ending 12/2023. While expenses have increased by 1.7% per year over the past 8 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ASSIST OUR MEMBERS IN REACHING THEIR FINANCIAL GOALS BY PROVIDING SUPERIOR PRODUCTS AND SERVICES IN A PERSONALIZED MANNER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION IS COOPERATIVE OWNED AND DEDICATED TO SERVING ITS MEMBERS. AT 12/31/23, THE CREDIT UNION HAS $98,807,601 AND $5,051,237 IN LOANS TO MEMBERS AND NON-MEMBERS, RESPECTIVELY. IN ADDITION, AT 12/31/23, THE CREDIT UNION HAS $114,793,649 IN DEPOSITS AND SHARE ACCOUNTS FROM MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Thompson Vice Chairman | OfficerTrustee | 1 | $0 |
Todd Cieplinski Chairman | OfficerTrustee | 1 | $0 |
Peter Lappin Director | Trustee | 1 | $0 |
Robert Mazur Assistant Treasurer | OfficerTrustee | 1 | $0 |
Jodi Turati Director | Trustee | 1 | $0 |
Cort Duda Director | Trustee | 1 | $0 |
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 | $5,069,044 |
| Investment income | $791,450 |
| 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 | $5,998,206 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,067,747 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $867,603 |
| Pension plan accruals and contributions | $58,997 |
| Other employee benefits | $204,760 |
| Payroll taxes | $152,496 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27,117 |
| Fees for services: Accounting | $127,257 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $55,426 |
| Advertising and promotion | $133,498 |
| Office expenses | $237,709 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $249,536 |
| Travel | $76,520 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,645 |
| Interest | $1,122,056 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $223,215 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $5,725,068 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $668,451 |
| Savings and temporary cash investments | $1,297,652 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $2,338,560 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $103,586,952 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,882,866 |
| Investments—publicly traded securities | $7,900,507 |
| Investments—other securities | $17,856,367 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,377,563 |
| Total assets | $138,908,918 |
| Accounts payable and accrued expenses | $703,782 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $408,727 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $10,575,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $114,793,649 |
| Total liabilities | $126,481,158 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $12,427,760 |
| Total liabilities and net assets/fund balances | $138,908,918 |