196 Middletown Area Schools Credit Union

Organization Overview

196 Middletown Area Schools Credit Union is located in Middletown, 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, 196 Middletown Area Schools Credit Union employed 4 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. 196 Middletown Area Schools 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 12/2021, 196 Middletown Area Schools Credit Union generated $355.1k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $376.9k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE MISSION OF THE MEMBER-OWNED MIDDLETOWN AREA SCHOOLS CREDIT UNION IS TO PROVIDE QUALITY FINANCIAL SERVICES TO ITS MEMBERS WHILE MAINTAINING FISCAL RESPONSIBILITY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE CREDIT UNION SERVICES THEIR 1,004 MEMBERS BY PROVIDING DEPOSIT SERVICES INCLUDING SHARE AND CLUB ACCOUNTS, SHARE DRAFT ACCOUNTS AND SHARE CERTIFICATES. THE MEMBERS HAVE ACCESS TO HOME BANKING, DEBIT CARDS, CREDIT CARDS AND ATMS. THE CREDIT UNION'S SHARES AND DEPOSITS INCREASED 21.11% IN 2021.


LOAN PRODUCTS OFFERED BY THE CREDIT UNION INCLUDES NEW AND USED VEHICLE LOANS, RECREATIONAL VEHICLE LOANS AND SHARE SECURED LOANS, UNSECURED LOANS AND CREDIT CARDS, THE CREDIT UNION GRANTED 188 LOANS IN 2021 TOTALING $1,479,535 COMPETITIVE RATES.


THE CREDIT UNION PAID COMPETITIVE DIVIDENDS ON THE 1,167 SHARE ACCOUNTS AND SHARE CERTIFICATE ACCOUNTS HELD BY THE CREDIT UNION'S 1,004 MEMBERS.


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Board, Officers & Key Employees

Name (title)Compensation
Mary A Gast
Secretary/treasurer
$0
Martha Morgan
Vice President
$0
Catherine J Jones
President
$0
James J Stiver
Director
$0
Cecil R Barger
Director
$0
Shirley Chaputa
Director
$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$346,881
Investment income $8,219
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 $355,100

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