715 Pse Credit Union Inc
- Assets
- $206.1m
- Revenue
- $7.4m
- Investments
- $12.2m
- Employees
- 72
- Location
- Parma, OH
- Founding
- 04/1969
- Data as of
- 12/2021
- 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 12/2021, 715 Pse Credit Union Inc employed 72 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 12/2021, 715 Pse 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 6.9% each year. All expenses for the organization totaled $5.6m during the year ending 12/2021. While expenses have increased by 1.9% 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 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph C Anderson President/ceo | Officer | 37.5 | $222,991 |
Peggy A Koch VP Of Finance | Officer | 37.5 | $100,434 |
Kenneth Noetzel Treasurer | OfficerTrustee | 1 | $0 |
Darlene Demarco Director | OfficerTrustee | 1 | $0 |
Robert Vasil Chair | OfficerTrustee | 1 | $0 |
David Toetz Director | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pscu Financial Services Credit Card Processing | 12/30/21 | $355,710 |
World Pay (Fka Vantiv) Atm/debit Card Processing | 12/30/21 | $325,473 |
Fiserv Data Processing | 12/30/21 | $312,278 |
Perception Multimedia Marketing Agency | 12/30/21 | $174,682 |
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 | $6,758,399 |
| Investment income | $606,893 |
| 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 | $7,365,292 |
| 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. | $323,425 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,492,424 |
| Pension plan accruals and contributions | $123,644 |
| Other employee benefits | $231,385 |
| Payroll taxes | $148,118 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $21,112 |
| Fees for services: Accounting | $33,458 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,800 |
| Advertising and promotion | $367,314 |
| Office expenses | $972,705 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $350,832 |
| Travel | $11,270 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $290,693 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $202,603 |
| Insurance | $116,273 |
| All other expenses | $0 |
| Total functional expenses | $5,649,319 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,570,824 |
| Savings and temporary cash investments | $17,931,394 |
| 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 | $116,712,335 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,277,466 |
| Investments—publicly traded securities | $49,252,315 |
| Investments—other securities | $12,202,972 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,199,739 |
| Total assets | $206,147,045 |
| Accounts payable and accrued expenses | $836,631 |
| 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 | $188,820,492 |
| Total liabilities | $189,657,123 |
| 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 | $16,489,922 |
| Total liabilities and net assets/fund balances | $206,147,045 |
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