Park Side Financial Credit Union
- Assets
- $397.8m
- Revenue
- $19.8m
- Investments
- $12.9m
- Employees
- 120
- Location
- Whitefish, MT
- Founding
- 05/1972
- Data as of
- 12/2023
- EIN
- 23-7155544
Organization Overview
Park Side Financial Credit Union is located in Whitefish, MT. The organization was established in 1972. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Park Side Financial Credit Union employed 120 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Park Side Financial 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, Park Side Financial Credit Union generated $19.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $19.3m during the year ending 12/2023. While expenses have increased by 6.7% 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
PARK SIDE IS A NOT FOR PROFIT FINANCIAL COOPERATIVE THAT PROVIDES FINANCIAL SERVICES TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PARK SIDE FINANCIAL CREDIT UNION IS A MEMBER-OWNED CO-OPERATIVE OFFERING A DIVERSE VARIETY OF FINANCIAL SERVICES TO ITS MEMBERS. ITS PRIMARY FINANCIAL SERVICES ARE PROVIDING REAL ESTATE LOANS, CONSUMER LOANS, CHECKING ACCOUNTS, SAVINGS ACCOUNTS, AND TIME DEPOSITS TO ITS MEMBERS.AT DECEMBER 31, 2023 PARK SIDE FINANCIAL CREDIT UNION HAS 51,515 TRANSACTIONAL DEPOSIT ACCOUNTS WITH A VALUE OF $235,157,126.AT DECEMBER 31, 2023 PARK SIDE FINANCIAL CREDIT UNION HAS 2,494 TIME DEPOSIT ACCOUNTS WITH A VALUE OF $106,678,399.AT DECEMBER 31, 2023 PARK SIDE FINANCIAL CREDIT UNION HAS 1,251 REAL ESTATE LOANS WITH A VALUE OF $182,938,668.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeremy Presta CEO | Officer | 40 | $308,783 |
Troy Brackey CFO | Officer | 40 | $296,638 |
Maureen Bryan Senior VP Of Hr | Officer | 40 | $236,872 |
Carol Beniger VP Of Lending | 40 | $141,005 | |
Josh Kroll VP Of Marketing | 40 | $132,404 | |
Laura Scoville VP Of Back Office Ops. | 40 | $132,066 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Member Driven Technologies Data Processing | 12/30/23 | $688,888 |
Visa Card Servicing | 12/30/23 | $428,942 |
Pscu Card Servicing | 12/30/23 | $943,043 |
Ncr Corporation Online Banking Services | 12/30/23 | $387,541 |
Jackola Engineering & Architecture Pc Engineering & Architecture | 12/30/23 | $251,650 |
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 | $18,815,832 |
| Investment income | $880,447 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $44,645 |
| Net Gain/Loss on Asset Sales | $12,642 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,753,566 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $55,569 |
| 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. | $933,277 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,835,256 |
| Pension plan accruals and contributions | $295,313 |
| Other employee benefits | $643,805 |
| Payroll taxes | $412,224 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,872 |
| Fees for services: Accounting | $137,332 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,262,650 |
| Advertising and promotion | $600,127 |
| Office expenses | $854,666 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $442,034 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $105,871 |
| Interest | $887,232 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $574,136 |
| Insurance | $105,120 |
| All other expenses | $493,791 |
| Total functional expenses | $19,298,291 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,695,087 |
| Savings and temporary cash investments | $5,874,068 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $960,131 |
| Loans from Officers, Directors, or Controlling Persons | $2,873,265 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $314,276,567 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $777,072 |
| Net Land, buildings, and equipment | $11,836,031 |
| Investments—publicly traded securities | $32,760,303 |
| Investments—other securities | $12,855,032 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,866,895 |
| Total assets | $397,774,451 |
| Accounts payable and accrued expenses | $1,381,065 |
| 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 | $22,000,000 |
| Unsecured mortgages and notes payable | $3,000,000 |
| Other liabilities | $342,127,434 |
| Total liabilities | $368,508,499 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $4,396,347 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $24,869,605 |
| Total liabilities and net assets/fund balances | $397,774,451 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Park Side Financial Credit Union Whitefish, MT | $397,774,451 | $19,753,566 |
Student Assistance Foundation Of Montana Helena, MT | $27,473,857 | $5,408,752 |
Akiptan Eagle Butte, SD | $26,940,042 | $5,692,103 |
Open Aid Alliance Missoula, MT | $738,800 | $1,259,220 |
Montana Independent Bankers Helena, MT | $726,412 | $127,139 |
Necog Development Corporation Aberdeen, SD | $6,533,098 | $514,731 |