544 C E S Credit Union Inc
- Assets
- $214.5m
- Revenue
- $10.3m
- Investments
- $70.3m
- Employees
- 67
- Location
- Mount Vernon, OH
- Founding
- 04/1969
- Data as of
- 12/2023
- EIN
- 31-4400124
Organization Overview
544 C E S Credit Union Inc is located in Mount Vernon, OH. The organization was established in 1969. 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, 544 C E S Credit Union Inc employed 67 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. 544 C E S 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, 544 C E S Credit Union Inc generated $10.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $7.9m during the year ending 12/2023. While expenses have increased by 4.4% per year over the past 9 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
THE PURPOSE OF THIS CREDIT UNION SHALL BE TO PROMOTE THRIFT AND TO PROVIDE CREDIT FOR ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FINANCIAL SERVICES TO APPROXIMATELY 17,244 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sandra K Coffing CEO | Officer | 40 | $202,273 |
Matthew Smith Employee | 40 | $110,274 | |
Mike Copley Employee | 40 | $106,274 | |
Jamie Forster CFO | Officer | 40 | $96,074 |
Teresa Bemiller Secretary | OfficerTrustee | 1 | $0 |
Jason Booth Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jha Payment Processing Jha Payment Processing Debit Card Proc | 12/30/23 | $682,560 |
Member Driven Technologies Member Driven Technologies Data Processor | 12/30/23 | $590,111 |
Uhs Premium Billing Uhs Premium Billing Health Insuranc | 12/30/23 | $278,037 |
Trustage Trustage Document Licenc | 12/30/23 | $132,624 |
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 | $8,945,849 |
| Investment income | $1,379,250 |
| 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 | $10,325,099 |
| 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 | $472,008 |
| Compensation of current officers, directors, key employees. | $298,347 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,629,940 |
| Pension plan accruals and contributions | $234,226 |
| Other employee benefits | $463,130 |
| Payroll taxes | $229,848 |
| Fees for services: Management | $5,250 |
| Fees for services: Legal | $17,640 |
| Fees for services: Accounting | $34,913 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $632,378 |
| Advertising and promotion | $297,106 |
| Office expenses | $192,221 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $249,032 |
| Travel | $23,915 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,891 |
| Interest | $6,055 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $155,154 |
| Insurance | $59,643 |
| All other expenses | $188,209 |
| Total functional expenses | $7,881,134 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,977,232 |
| Savings and temporary cash investments | $11,718,841 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $757,962 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $120,517,983 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $436,453 |
| Net Land, buildings, and equipment | $2,143,015 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $70,275,585 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,687,257 |
| Total assets | $214,514,328 |
| Accounts payable and accrued expenses | $1,704,439 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $496,281 |
| 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 | $190,720,686 |
| Total liabilities | $192,921,406 |
| 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 | $21,592,922 |
| Total liabilities and net assets/fund balances | $214,514,328 |