Emory Alliance Credit Union
- Assets
- $0.0
- Revenue
- $8.5m
- Investments
- $0.0
- Employees
- 35
- Location
- Rantoul, IL
- Founding
- 11/2001
- Data as of
- 12/2022
- EIN
- 23-7089505
Organization Overview
Emory Alliance Credit Union is located in Rantoul, IL. The organization was established in 2001. 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, Emory Alliance Credit Union employed 35 individuals. Emory Alliance 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, Emory Alliance Credit Union generated $8.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $9.8m during the year ending 12/2022. While expenses have increased by 7.2% 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
AS A LEADING NON-PROFIT FINANCIAL COOPERATIVE, OUR PURPOSE IS TO PROVIDE HIGH QUALITY, LOW COST FINANCIAL SERVICES FOR OUR MEMBERS. WE ARE DEDICATED TO IMPROVING THE FINANCIAL WELL-BEING OF OUR MEMBER COMMUNITY THROUGH ENGAGEMENT, SERVICE, EDUCATION, OUTREACH AND CHARITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SERVED MORE THAN EIGHTEEN THOUSAND MEMBERS DURING THE YEAR BY OFFERING FAVORABLE DIVIDEND RATES ON SAVINGS AND ATTRACTED OVER ONE HUNDRED NINETY THREE MILLION DOLLARS IN MEMBERS DEPOSITS.
SERVED MORE THAN EIGHTEEN THOUSAND MEMBERS DURING THE YEAR BY EXTENDING CREDIT WITH LOW INTEREST RATES AND HELD OVER 126 MILLION DOLLARS CONSUMER AND REAL ESTATE LOANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Thurston Chair Board Of Directors | Trustee | 2 | $0 |
Joanna Green Vice Chair, Board Of Directors | Trustee | 2 | $0 |
Heather Mugg Secretary Of Board | Trustee | 2 | $0 |
Jose G Rodriguez Treasurer Of Board | Trustee | 2 | $0 |
Beverly Cormican Board Member | Trustee | 2 | $0 |
Deepa Pawate Board Member | Trustee | 2 | $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 | $7,338,681 |
| Investment income | $1,145,798 |
| 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 | $8,484,479 |
| 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. | $384,497 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,651,067 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $640,664 |
| Advertising and promotion | $142,481 |
| Office expenses | $1,969,079 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $487,962 |
| Travel | $57,001 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $49,549 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $9,825,320 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $0 |