0220 Abbey Credit Union Inc
- Assets
- $155.9m
- Revenue
- $8.6m
- Investments
- $0.0
- Employees
- 53
- Location
- Vandalia, OH
- Founding
- 04/1969
- Data as of
- 12/2023
- EIN
- 31-0329725
Organization Overview
0220 Abbey Credit Union Inc is located in Vandalia, OH. The organization was established in 1969. 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, 0220 Abbey Credit Union Inc employed 53 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. 0220 Abbey Credit Union Inc 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, 0220 Abbey Credit Union Inc generated $8.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $7.4m during the year ending 12/2023. While expenses have increased by 10.9% per year over the past 6 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
OUR MISSION IS TO HELP OUR MEMBERS IMPROVE THEIR ECONOMIC WELL BEING AND QUALITY OF LIFE BY BEING COMPETITIVE, CONVENIENT, AND CUTTING EDGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ABBEY PROVIDES CHECKING, SAVINGS ACCOUNTS, MONEY MARKET ACCOUNTS, CERTIFICATES OF DEPOSIT, AND IRAS. ABBEY ALSO OFFERS FREE ATM/DEBIT CARD SERVICES, WIRE TRANSFER SERVICES, MOBILE BANKING, AND INSURANCE RELATED PRODUCTS.
ABBEY PROVIDES PERSONAL, VEHICLE, MORTGAGE, AND CREDIT CARD LOANS TO ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dean Pielemeier CEO | Officer | 40 | $223,816 |
Eric Stetzel Commercial L | 40 | $118,810 | |
Teri Puthoff CFO | Officer | 40 | $105,213 |
Blanca Criner Chief Mkt & | Officer | 40 | $103,213 |
Lisa Burk Cxo | Officer | 40 | $87,872 |
Michele Blake Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
N A | 12/30/22 | $0 |
N A | 12/30/22 | $0 |
None | 12/30/22 | $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 | $7,829,933 |
| Investment income | $782,568 |
| 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 | $8,612,501 |
| 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 | $1,220,957 |
| Compensation of current officers, directors, key employees. | $520,114 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,744,171 |
| Pension plan accruals and contributions | $112,140 |
| Other employee benefits | $281,631 |
| Payroll taxes | $171,889 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,119 |
| Fees for services: Accounting | $44,031 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $150,395 |
| Advertising and promotion | $151,283 |
| Office expenses | $274,419 |
| Information technology | $297,946 |
| Royalties | $0 |
| Occupancy | $203,636 |
| Travel | $26,074 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $280,675 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $290,193 |
| Insurance | $14,949 |
| All other expenses | $335,149 |
| Total functional expenses | $7,418,139 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,587,275 |
| Savings and temporary cash investments | $17,222,333 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,074,445 |
| Loans from Officers, Directors, or Controlling Persons | $2,639,997 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $111,936,056 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $530,260 |
| Net Land, buildings, and equipment | $4,809,798 |
| Investments—publicly traded securities | $14,151,625 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,935,730 |
| Total assets | $155,887,519 |
| Accounts payable and accrued expenses | $499,821 |
| 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 | $7,016,579 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $139,439,813 |
| Total liabilities | $146,956,213 |
| 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 | $8,931,306 |
| Total liabilities and net assets/fund balances | $155,887,519 |