Missouri Credit Union
- Assets
- $537.3m
- Revenue
- $29.4m
- Investments
- $167.4m
- Employees
- 120
- Location
- Columbia, MO
- Founding
- Data as of
- 12/2023
- EIN
- 23-7024415
Organization Overview
Missouri Credit Union is located in Columbia, MO. As of 12/2023, Missouri Credit Union employed 120 individuals. Missouri 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, Missouri Credit Union generated $29.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $24.3m during the year ending 12/2023. While expenses have increased by 6.9% 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
MISSOURI CREDIT UNION (MCU) IS OPERATED FOR MUTUAL PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ONE OF THE CREDIT UNION'S PRIMARY PURPOSES IS TO PROVIDE CREDIT TO ITS MEMBERS AT A COMPETITIVE RATE. THE CREDIT UNION PROVIDES SECURED, UNSECURED AND REAL ESTATE LOANS TO ELIGIBLE MEMBERS. OUT OF 36,841 MEMBERS, THE CREDIT UNION HAD 24,582 LOANS OUTSTANDING AT 12/31/23, INCLUDING MORTGAGES SOLD WITH SERVICING RETAINED. A PARTICIPATION INTEREST WAS ALSO OWNED IN AN ADDITIONAL 79,650 LOANS.
THE CREDIT UNION ALSO OFFERS FIRST TIME HOME BUYER CREDITS, DEBIT CARDS, BRANDED CREDIT CARDS, REMOTE DEPOSIT CAPTURE, ACH ORIGINATION, DIRECT DEPOSIT SERVICES AND WIRE TRANSFERS TO ELIGIBLE MEMBERS.
THE CREDIT UNION OFFERS DEPOSIT SERVICES TO ELIGIBLE MEMBERS. THE CREDIT UNION OFFERS SAVINGS ACCOUNTS, CHECKING ACCOUNTS, CERTIFICATES AND INDIVIDUAL RETIREMENT ACCOUNTS TO ALL MEMBERS. IN ORDER TO MAINTAIN A SHARE ACCOUNT AN INDIVIDUAL MUST BE ELIGIBLE FOR MEMBERSHIP. AT 12/31/23 THERE WERE 68,758 DEPOSIT ACCOUNTS BEING SERVICED.
ONE OF THE DELIVERY CHANNELS FOR THE VARIOUS PRODUCTS IS ELECTRONIC DELIVERY. THE CREDIT UNION OFFERS DEBIT CARDS, ATM ACCESS, AUDIO RESPONSE ACCOUNT ACCESS, INTERNET ACCOUNT ACCESS AND MOBILE ACCOUNT ACCESS. ALL SERVICES ARE OFFERED AT NO COST TO ELIGIBLE MEMBERS. THE CREDIT UNION BELONGS TO THE CO-OP ATM NETWORK WHICH ENABLES MEMBERS TO USE NETWORK RELATED ATMS NATIONWIDE WITH NO SURCHARGE. CREDIT UNION SHARED BRANCHING TRANSACTIONS ARE ALSO OFFERED NATIONWIDE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Treasurer | OfficerTrustee | 0.5 | $0 |
Name Not Listed Chair | OfficerTrustee | 0.5 | $0 |
Name Not Listed Vice Chair | OfficerTrustee | 0.5 | $0 |
Name Not Listed Secretary | OfficerTrustee | 0.5 | $0 |
Name Not Listed Director | Trustee | 0.5 | $0 |
Name Not Listed Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Data Business Equipment Inc Ptm Equipment Maintenance | 12/30/23 | $717,550 |
Bucket Media Media Planning & Buying | 12/30/23 | $408,657 |
Trozzolo Communications Group Advertising | 12/30/23 | $235,000 |
Access Softek Inc Mobile And Home Banking | 12/30/23 | $247,302 |
Jack Henry & Associates Software Support & Maintenance | 12/30/23 | $368,786 |
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 | $23,273,071 |
| Investment income | $5,623,342 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $158,296 |
| Net Gain/Loss on Asset Sales | $345,143 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $29,399,852 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $41,505 |
| Grants and other assistance to domestic individuals. | $40,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $6,695,889 |
| Compensation of current officers, directors, key employees. | $1,190,516 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,612,178 |
| Pension plan accruals and contributions | $249,341 |
| Other employee benefits | $654,727 |
| Payroll taxes | $393,600 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $111,281 |
| Fees for services: Accounting | $84,960 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $364,422 |
| Advertising and promotion | $985,520 |
| Office expenses | $1,308,265 |
| Information technology | $641,170 |
| Royalties | $0 |
| Occupancy | $978,414 |
| Travel | $181,493 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,953 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $738,056 |
| Insurance | $219,533 |
| All other expenses | $0 |
| Total functional expenses | $24,313,033 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,510,988 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,565,762 |
| Loans from Officers, Directors, or Controlling Persons | $8,678,449 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $331,326,738 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,540,482 |
| Net Land, buildings, and equipment | $9,965,804 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $167,352,963 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,372,704 |
| Total assets | $537,313,890 |
| Accounts payable and accrued expenses | $9,182,193 |
| Grants payable | $0 |
| Deferred revenue | $1,058,390 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,300,962 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $131,147 |
| Other liabilities | $476,201,270 |
| Total liabilities | $487,873,962 |
| 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 | $49,439,928 |
| Total liabilities and net assets/fund balances | $537,313,890 |
Grants Awarded
Over the last fiscal year, Missouri Credit Union has awarded $29,200 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF COLUMBIA PURPOSE: Attract new carriers or expand routes from regional airport | $10,000 |
THE FOOD BANK OF CENTRAL AND NORTHEAST MISSOURI PURPOSE: GENERAL OPERATIONS | $19,200 |