Christian Family Credit Union Inc
- Assets
- $84.6m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 18
- Location
- Milford, OH
- Founding
- 04/1969
- Data as of
- 12/2023
- EIN
- 34-1035977
Organization Overview
Christian Family Credit Union Inc is located in Milford, 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 12/2023, Christian Family Credit Union Inc employed 18 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Christian Family 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, Christian Family Credit Union Inc generated $3.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $3.1m during the year ending 12/2023. While expenses have increased by 3.9% per year over the past 6 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 MISSION OF CHRISTIAN FAMILY CREDIT UNION IS TO PROVIDE SOLUTIONS FOR OUR MEMBERS TO ACHIEVE FINANCIAL SECURITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS A STATE CHARTERED MEMBER OWNED COOPERATIVE CREDIT UNION THAT PROVIDES FINANCIAL SERVICES FOR THE MEMBER OWNERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Riel President / | Officer | 40 | $125,968 |
Leo Feldmann VP Accountin | Officer | 40 | $71,630 |
Robin Chappel VP Member So | Officer | 40 | $60,428 |
Michelle La Presto Comm Lending | Officer | 40 | $60,497 |
Terry Laws Consum Lend | Officer | 40 | $56,694 |
Phil Dever Director | Trustee | 1 | $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 | $2,147,696 |
| Investment income | $1,137,587 |
| 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 | $3,285,283 |
| 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. | $375,217 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $56,614 |
| Other salaries and wages | $375,603 |
| Pension plan accruals and contributions | $82,188 |
| Other employee benefits | $82,960 |
| Payroll taxes | $70,721 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,422 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $226,392 |
| Advertising and promotion | $102,581 |
| Office expenses | $362,661 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $178,571 |
| Travel | $20,101 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,379 |
| Interest | $792,533 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $45,817 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,090,393 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,274,606 |
| Savings and temporary cash investments | $0 |
| 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 | $35,538,559 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,645,926 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $40,702,154 |
| Intangible assets | $0 |
| Other assets | $1,426,983 |
| Total assets | $84,588,228 |
| Accounts payable and accrued expenses | $3,132,164 |
| 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 | $72,915,146 |
| Total liabilities | $76,047,310 |
| 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 | $8,540,918 |
| Total liabilities and net assets/fund balances | $84,588,228 |