1371 Impact Credit Union Inc

Organization Overview

1371 Impact Credit Union Inc is located in Clyde, 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, 1371 Impact Credit Union Inc employed 86 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. 1371 Impact 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, 1371 Impact Credit Union Inc generated $7.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $7.7m during the year ending 12/2021. While expenses have increased by 3.7% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO QUALIFIED MEMBERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDE 15,018 MEMBERS WITH REGULAR SHARES, SHARE DRAFTS, MONEY MARKETS, IRA AND CERTIFICATES OF DEPOSIT TOTALING 33,029.


ORIGINATE LOANS AND SERVICE A LOAN PORTFOLIO OF 9,302 INCLUDING NEW AND USED VEHICLES, RECREATIONAL VEHICLES, SIGNATURE, 1ST MORTGAGE, HOME EQUITY, MOBILE HOME, CREDIT CARD, SHARE SECURED AND EDUCATIONAL LOANS.


OFFER CHECK CASHING, MONEY ORDERS, COURTESY PAY, WIRE TRANSFER, ELECTRONIC BANKING, ATM AND VARIOUS INSURANCE PROGRAMS TO ELIGIBLE MEMBERS.


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Board, Officers & Key Employees

Name (title)Compensation
Scott Hicks
President/ce
$210,347
Bruce Joseph
Financial Pl
$154,909
Sonya Smith
Evp/cfo
$134,247
Denise Schabel
Svp/coo
$125,677
Josh Kurtz
VP Retail De
$111,569
Kelly Strecker
VP Of Lendin
$102,503

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Area Financial Services
Data Processing
$896,680
Fidelity Nat'l Services
Cc Processing
$653,144
Medical Mutual
Health Ins.
$526,085
View All Vendors

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$7,498,505
Investment income $292,512
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$2,811
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $7,906,870

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