715 Pse Credit Union Inc
- Assets
- $302.0m
- Revenue
- $16.5m
- Investments
- $18.9m
- Employees
- 90
- Location
- Parma, OH
- Founding
- 04/1969
- Data as of
- 12/2023
- EIN
- 34-0800260
Organization Overview
715 Pse Credit Union Inc is located in Parma, 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 12/2023, 715 Pse Credit Union Inc employed 90 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. 715 Pse 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, 715 Pse Credit Union Inc generated $16.5m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 15.2% each year . All expenses for the organization totaled $13.3m during the year ending 12/2023. While expenses have increased by 11.5% 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 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steel Nowlin Secretary | Trustee | 1 | $0 |
Kenneth Noetzel Treasurer | OfficerTrustee | 1 | $0 |
Robert Vasil Chair | OfficerTrustee | 1 | $0 |
Darlene Demarco Director | OfficerTrustee | 1 | $0 |
Robert Moulton Director | Trustee | 1 | $0 |
Karen Newman Vice Chair | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fiserv Operating Systems | 12/30/23 | $1,994,800 |
Fiserv Atm/debit Cards | 12/30/23 | $455,449 |
Pscu Financial Services Credit Card Processing | 12/30/23 | $317,307 |
Perception Multimedia Marketing Agency | 12/30/23 | $223,832 |
Kcg Tech Group Technology Consulting | 12/30/23 | $171,501 |
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 | $14,225,593 |
| Investment income | $2,281,064 |
| 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 | $16,506,657 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $1,054,135 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,902,808 |
| Pension plan accruals and contributions | $157,507 |
| Other employee benefits | $350,886 |
| Payroll taxes | $234,772 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,675 |
| Fees for services: Accounting | $45,179 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,740 |
| Advertising and promotion | $592,161 |
| Office expenses | $2,276,024 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $591,649 |
| Travel | $21,126 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,130,756 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $209,903 |
| Insurance | $89,151 |
| All other expenses | $0 |
| Total functional expenses | $13,252,535 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,049,225 |
| Savings and temporary cash investments | $18,585,939 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $190,342,741 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $4,637,891 |
| Investments—publicly traded securities | $55,129,632 |
| Investments—other securities | $18,931,098 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,288,081 |
| Total assets | $301,964,607 |
| Accounts payable and accrued expenses | $1,600,708 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| 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 | $273,570,357 |
| Total liabilities | $275,171,065 |
| 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 | $26,793,542 |
| Total liabilities and net assets/fund balances | $301,964,607 |