544 C E S Credit Union Inc
- Assets
- $208.7m
- Revenue
- $7.4m
- Investments
- $91.4m
- Employees
- 88
- Location
- Mount Vernon, OH
- Founding
- 04/1969
- Data as of
- 12/2021
- 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 12/2021, 544 C E S Credit Union Inc employed 88 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 12/2021, 544 C E S Credit Union Inc generated $7.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $6.2m during the year ending 12/2021. While expenses have increased by 2.2% per year over the past 7 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
2021
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 16,516 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sandra K Coffing CEO | Officer | 40 | $167,744 |
Brittany Hahler CFO | Officer | 40 | $77,293 |
Teresa Bemiller Secretary | OfficerTrustee | 1 | $0 |
Margaret Ann Ruhl Vice Chair | OfficerTrustee | 1 | $0 |
George Warden Treasurer | OfficerTrustee | 1 | $0 |
Jeff Wells Chairman | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jha Payment Processing Jha Payment Processing Debit Card Proc | 12/30/21 | $669,256 |
Member Driven Technologies Member Driven Technologies Data Processor | 12/30/21 | $565,430 |
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 | $6,672,091 |
| Investment income | $683,814 |
| 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 | $7,355,905 |
| 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 | $135,650 |
| Compensation of current officers, directors, key employees. | $245,037 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,026,595 |
| Pension plan accruals and contributions | $170,034 |
| Other employee benefits | $444,208 |
| Payroll taxes | $184,436 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,952 |
| Fees for services: Accounting | $42,652 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $571,088 |
| Advertising and promotion | $214,235 |
| Office expenses | $251,152 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $230,913 |
| Travel | $24,377 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,101 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $171,018 |
| Insurance | $53,302 |
| All other expenses | $126,985 |
| Total functional expenses | $6,193,075 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,167,029 |
| Savings and temporary cash investments | $16,755,339 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $704,378 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $89,187,913 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $381,231 |
| Net Land, buildings, and equipment | $2,117,881 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $91,386,231 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,999,154 |
| Total assets | $208,699,156 |
| Accounts payable and accrued expenses | $1,097,564 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $366,875 |
| 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 | $188,111,809 |
| Total liabilities | $189,576,248 |
| 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 | $19,122,908 |
| Total liabilities and net assets/fund balances | $208,699,156 |
Peer Organizations
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|---|---|---|
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Sharefax Credit Union Inc Cincinnati, OH | $476,733,976 | $17,127,744 |
0053 Ih Credit Union Springfield, OH | $344,796,959 | $14,795,069 |
544 C E S Credit Union Inc Mount Vernon, OH | $208,699,156 | $7,355,905 |
Friends Fiduciary Corporation Philadelphia, PA | $693,443,242 | $5,444,683 |
1087 Millstream Area Credit Union Inc Findlay, OH | $59,199,918 | $3,448,457 |
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