18 Ohios First Class Credit Union

Organization Overview

18 Ohios First Class Credit Union is located in Cleveland, OH. The organization was established in 1969. According to its NTEE Classification (Y99) the organization is classified as: Mutual & Membership Benefit N.E.C., under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2022, 18 Ohios First Class Credit Union employed 19 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. 18 Ohios First Class 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, 18 Ohios First Class Credit Union generated $3.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $3.7m during the year ending 12/2022. While expenses have increased by 2.8% 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

IT IS THE MISSION OF OHIO'S FIRST CLASS CREDIT UNION TO EXCEED EXPECTATIONS WITH SUPERIOR SERVICE AND PRODUCTS THAT WILL PROMOTE MEMBERS' FINANCIAL SUCCESS, WHILE OPERATING IN A FINANCIALLY SOUND, ETHICAL MANNER.

Describe the Organization's Program Activity:

Part 3 - Line 4a

DIVIDENDS AND INTEREST PAID TO MEMBERS ON 17,882 DEPOSIT ACCOUNTS HELD BY APPROXIMATELY 9,661 MEMBERS.


DIRECT LABOR AND EMPLOYEE BENEFIT COSTS INCURRED PROVIDING SAVINGS DEPOSIT SERVICES, ORIGINATING NEW LOANS AND SERVICING THE LOAN PORTFOLIO FOR MEMBERS.


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


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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$2,989,136
Investment income $347,922
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 $3,337,058

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