944 Pillar Credit Union

Organization Overview

944 Pillar Credit Union is located in Marion, 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 12/2022, 944 Pillar Credit Union employed 33 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. 944 Pillar 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, 944 Pillar Credit Union generated $4.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $3.1m during the year ending 12/2022. While expenses have increased by 3.2% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE CREDIT UNION PROVIDES FINANCIAL SERVICES AND EDUCATION TO QUALIFIED MEMBERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

DIVIDENDS AND INTEREST PAID TO MEMBERS ON APPROXIMATELY 15,000 ACOUNTS HELD BY 9536 MEMBERS.


DIRECT LABOR AND EMPLOYEE COSTS INCURRD PROVIDING SAVING DEPOSIT SERVICES, ORIGINATING NEW LOANS AND SERVICING THE LOAN PORTFOLIO FOR MEMBERS.


DATA PROCESSING COSTS INCURRED RECORDING MEMBER ACCOUNT ACTIVITY AND PROVIDING ACCESS TO MEMEBERS TO THEIR ACCOUNTS VIA HOME BANKING, ATM NEWTWORKS AND IN PERSON AT THE CREDIT UNION.


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Board, Officers & Key Employees

Name (title)Compensation
Vidya Iyengar
CEO
$167,335
Thomas M Veith
Director
$0
Ryan W Cook
Director - Vicechair
$0
Daniel R Dreher
Director
$0
Adam Willauer
Director - Chair
$0
Richard Mault
Director - Treasurer
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Fiserv
Card Processor
$262,076
Computer Marketing Corporation
Data Processor
$118,225
View All Vendors

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$3,601,657
Investment income $592,390
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$9,120
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $4,184,927

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