Tech Credit Union

Organization Overview

Tech Credit Union is located in Crown Point, IN. 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, Tech Credit Union employed 187 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tech 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 12/2023, Tech Credit Union generated $33.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.5% each year . All expenses for the organization totaled $26.6m during the year ending 12/2023. While expenses have increased by 9.4% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

TO PROMOTE THRIFT AND PROVIDE LOW COST LOANS TO MEMBERS. THIS IS ACCOMPLISHED ON A CO-OPERATIVE BASIS FOR THE MUTUAL BENEFIT OF THOSE WITHIN THE MEMBERSHIP.

Describe the Organization's Program Activity:

Part 3 - Line 4a

MAINTAIN SAVINGS ACCOUNTS FOR MEMBERS (TO PROMOTE THRIFT) AND OFFER LOANS TO MEMBERS AT LOW COST AND REASONABLE INTEREST RATES. THE CREDIT UNION HAD APPROXIMATELY 38,525 MEMBERS AT THE END OF THE YEAR.


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Board, Officers & Key Employees

Name (title)Compensation
Joe Machara
Chairperson
$7,000
James Mack
2nd Vice Chairperson
$6,250
Walter Garbarczyk
Secretary
$5,250
Edward Petyo
Treasurer
$6,252
Lisa Beck
Director
$6,250
Luis Gonzalez
Director
$5,500

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Charles L Pardee Jr Builder Llc
Construction Management
$3,448,355
Ncr
Digital Banking Solutions
$615,308
Bucher Technologies
Information Technology Services
$458,816
Qsiinc
Banking Equipment
$447,907
Comcastbus
Data Lines
$233,511
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$24,716,120
Investment income $1,074,985
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $7,609,643
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $33,400,748

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