Belco Community Credit Union
- Assets
- $935.0m
- Revenue
- $48.0m
- Investments
- $20.6m
- Employees
- 324
- Location
- Harrisburg, PA
- Founding
- 01/2012
- Data as of
- 12/2022
- EIN
- 23-1445884
Organization Overview
Belco Community Credit Union is located in Harrisburg, PA. The organization was established in 2012. 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 12/2022, Belco Community Credit Union employed 324 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Belco Community 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 12/2022, Belco Community Credit Union generated $48.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $40.9m during the year ending 12/2022. While expenses have increased by 7.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
LOCALLY BASED CREDIT UNION DEDICATED TO MEETING THE FINANCIAL SERVICE NEEDS OF OUR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE LOANS TO 74,678 MEMBERS.
PROVIDE FINANCIAL SERVICES TO 74,678 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terry Hessler Chair | OfficerTrustee | 5 | $0 |
Richard Myxter Vice-Chair | OfficerTrustee | 5 | $0 |
Stephanie F Miller Treasurer | OfficerTrustee | 5 | $0 |
Jeffrey Cohick Assistant Treasurer (ending 11/2022) | Trustee | 5 | $0 |
William F O'donnell Assistant Treasurer | Trustee | 5 | $0 |
Dawn Gamble Secretary | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jack Henry & Associates It Svcs | 12/30/22 | $1,120,276 |
Diebold Nixdorf Incorp Atm Svcs | 12/30/22 | $749,220 |
East Hempfield Township Land Development / Escrow | 12/30/22 | $652,988 |
R S Mowery & Sons Inc Construction Svcs | 12/30/22 | $1,736,901 |
Haberfeld Direct Llc Marketing Svcs | 12/30/22 | $599,266 |
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 | $42,086,786 |
| Investment income | $4,714,062 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $111,736 |
| Net Rental Income | $446,520 |
| Net Gain/Loss on Asset Sales | $687,272 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $48,046,376 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $14,311 |
| 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. | $1,369,974 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,776,764 |
| Pension plan accruals and contributions | -$820,406 |
| Other employee benefits | $2,620,409 |
| Payroll taxes | $1,162,746 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,807 |
| Fees for services: Accounting | $81,044 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,372,587 |
| Advertising and promotion | $2,218,402 |
| Office expenses | $1,869,253 |
| Information technology | $3,937,197 |
| Royalties | $0 |
| Occupancy | $1,446,212 |
| Travel | $101,322 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $219,757 |
| Interest | $3,639,850 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,764,715 |
| Insurance | $185,169 |
| All other expenses | $2,370 |
| Total functional expenses | $40,889,110 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,356,487 |
| Savings and temporary cash investments | $23,185,630 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,099,649 |
| Loans from Officers, Directors, or Controlling Persons | $603,931 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $653,114,451 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,536,980 |
| Net Land, buildings, and equipment | $30,795,575 |
| Investments—publicly traded securities | $161,645,278 |
| Investments—other securities | $20,591,401 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $29,111,856 |
| Total assets | $935,041,238 |
| Accounts payable and accrued expenses | $4,822,737 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $65,150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $821,273,702 |
| Total liabilities | $891,246,439 |
| 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 | $43,794,799 |
| Total liabilities and net assets/fund balances | $935,041,238 |