Friends And Family Credit Union
- Assets
- $109.6m
- Revenue
- $4.4m
- Investments
- $0.0
- Employees
- 33
- Location
- Massillon, OH
- Founding
- 04/1969
- Data as of
- 12/2022
- EIN
- 34-0925129
Organization Overview
Friends And Family Credit Union is located in Massillon, 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 12/2022, Friends And Family Credit Union employed 33 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Friends And Family 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, Friends And Family Credit Union generated $4.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $4.1m during the year ending 12/2022. While expenses have increased by 3.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SERVE THE FINANCIAL NEEDS OF THE MEMBERS OF THE CREDIT UNION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBER LOANS - THE CREDIT UNION STRIVES TO PROVIDE ITS MEMBERS WITH FINANCIAL FLEXIBILITY AND ENCOURAGE SAVINGS WITH VARIOUS TYPES OF LOANS IN THE FOLLOWING CATEGORIES: AUTOMOBILE LOANS, MORTGAGE LOANS, UNSECURED LOANS, REAL ESTATE LOANS, AND OTHER VARIOUS TYPES. AS OF YEAR END, THE CREDIT UNION HAD 6,123 LOANS OUTSTANDING.
MEMBER SERVICES, INCLUDING INTERNET BANKING AND BILL PAY IN ORDER TO PROVIDE MEMBERS WITH FASTEST AND SAFEST WAYS OF TRANSACTING BUSINESS. INCLUDES OVERDRAFT PROTECTION TO ASSIST MEMBERS WITH SERVICES TO AVOID UNWANTED FEES.
DEPOSITORY ACCOUNTS - THE CREDIT UNION STRIVES TO PROVIDE ITS MEMBERS WITH FINANCIAL FLEXIBILITY AND ENCOURAGE SAVINGS WITH VARIOUS TYPES OF DEPOSITORY ACCOUNTS. THE CREDIT UNION CURRENTLY OFFERS DEPOSITORY ACCOUNTS IN VARIETIES SUCH AS DRAFT ACCOUNTS, CHECKING ACCOUNTS, SAVINGS ACCOUNTS, CERTIFICATE OF DEPOSIT ACCOUNTS, INDIVIDUAL RETIREMENT ACCOUNTS, MONEY MARKET ACCOUNTS, AND OTHER VARIOUS TYPES. AS OF THE YEAR END, THE THERE WERE 18,319 DEPOSITORY ACCOUNTS HELD AT THE CREDIT UNION.
DEBIT CARD PROGRAM - THE CREDIT UNION STRIVES TO PROVIDE ITS MEMBERS WITH FINANCIAL FLEXIBILITY AND ENCOURAGE SAVINGS WITH THE ALLOWANCE OF A DEBIT CARD.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Triner Chairman | OfficerTrustee | 2 | $0 |
Mike Loudiana Vice Chairman | OfficerTrustee | 2 | $0 |
Melville Maier Treasurer | OfficerTrustee | 2 | $0 |
Gary Lucas Secretary | OfficerTrustee | 2 | $0 |
Michael Ziegelhofer Director | Trustee | 2 | $0 |
Bill Hamit Director | Trustee | 2 | $0 |
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 | $4,166,850 |
| Investment income | $218,029 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$26,567 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,365,367 |
| 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. | $113,997 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $872,795 |
| Pension plan accruals and contributions | $92,844 |
| Other employee benefits | $157,868 |
| Payroll taxes | $158,657 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25 |
| Fees for services: Accounting | $20,777 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $409,696 |
| Advertising and promotion | $231,602 |
| Office expenses | $140,217 |
| Information technology | $28,561 |
| Royalties | $0 |
| Occupancy | $211,598 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $51,912 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $231,617 |
| Insurance | $27,450 |
| All other expenses | $111,392 |
| Total functional expenses | $4,078,337 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,835,486 |
| Savings and temporary cash investments | $18,683,596 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $80,385,077 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $533,537 |
| Net Land, buildings, and equipment | $2,886,382 |
| Investments—publicly traded securities | $1,205,667 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,080,490 |
| Total assets | $109,610,235 |
| Accounts payable and accrued expenses | $2,747,620 |
| 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 | $99,385,471 |
| Total liabilities | $102,133,091 |
| 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 | $7,477,144 |
| Total liabilities and net assets/fund balances | $109,610,235 |