0197 Universal 1 Credit Union Inc
- Assets
- $475.8m
- Revenue
- $19.0m
- Investments
- $114.0m
- Employees
- 126
- Location
- Dayton, OH
- Founding
- 04/1969
- Data as of
- 12/2021
- EIN
- 31-0387145
Organization Overview
0197 Universal 1 Credit Union Inc is located in Dayton, 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 12/2021, 0197 Universal 1 Credit Union Inc employed 126 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. 0197 Universal 1 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 12/2021, 0197 Universal 1 Credit Union Inc generated $19.0m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $15.0m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.1%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
STATE-CHARTERED CREDIT UNION ORGANIZED TO PROVIDE MEMBERS WITH FINANCIAL SERVICES AND PRODUCTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LENDING TO CREDIT UNION MEMBERS: WE PROVIDED 7,671 CREDIT CARD AND LINE OF CREDIT LOANS; 9,170 VEHICLE LOANS; 1,173 MORTGAGE LOANS; AND 492 OTHER LOANS TO MEMBERS IN 2021.
PROVIDING FINANCIAL SERVICES TO CREDIT UNION MEMBERS: WE PROVIDED 28,781 CHECKING ACCOUNTS; 39,446 SAVINGS ACCOUNTS; 1,039 MONEY MARKET ACCOUNTS; 2,920 CERTIFICATE OF DEPOSITS; 1,511 RETIREMENT ACCOUNTS; AND 2,691 OTHER ACCOUNTS TO MEMBERS IN 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Loren A Rush President/ceo (to 10/2021) | OfficerTrustee | 36 | $649,234 |
Jessica O Jones President/ceo | OfficerTrustee | 36 | $242,989 |
Shannon R Maloney Evp - Mis/corp Svcs (to 10/2021) | Officer | 36 | $229,331 |
Michael L Hardwick Chief Information Officer | Officer | 36 | $123,241 |
Thomas D Keyes SVP - Member Services | Officer | 36 | $123,217 |
Kathryn M Lewis Treasurer/cfo | Officer | 36 | $110,625 |
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 | $17,906,347 |
| Investment income | $1,060,702 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,274 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,974,323 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,436,016 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,886,557 |
| Pension plan accruals and contributions | $210,157 |
| Other employee benefits | $513,924 |
| Payroll taxes | $360,740 |
| Fees for services: Management | $78,238 |
| Fees for services: Legal | $81,877 |
| Fees for services: Accounting | $215,401 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $178,881 |
| Fees for services: Other | $0 |
| Advertising and promotion | $193,847 |
| Office expenses | $736,883 |
| Information technology | $2,579,582 |
| Royalties | $0 |
| Occupancy | $771,510 |
| Travel | $112,226 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,132 |
| Interest | $8 |
| Payments to affiliates | $84,197 |
| Depreciation, depletion, and amortization | $658,335 |
| Insurance | $86,583 |
| All other expenses | $121,160 |
| Total functional expenses | $15,002,754 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,359,867 |
| Savings and temporary cash investments | $97,569,565 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,805,167 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $239,712,238 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,438,398 |
| Net Land, buildings, and equipment | $7,901,057 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $113,951,609 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,088,991 |
| Total assets | $475,826,892 |
| Accounts payable and accrued expenses | $2,741,950 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $442,899 |
| 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 | $432,484,938 |
| Total liabilities | $435,669,787 |
| 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 | $40,157,105 |
| Total liabilities and net assets/fund balances | $475,826,892 |
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