Crane Credit Union
- Assets
- $1.0b
- Revenue
- $40.6m
- Investments
- $0.0
- Employees
- 230
- Location
- Odon, IN
- Founding
- Data as of
- 12/2022
- EIN
- 35-0978599
Organization Overview
Crane Credit Union is located in Odon, IN. As of 12/2022, Crane Credit Union employed 230 individuals. Crane 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, Crane Credit Union generated $40.6m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $30.0m during the year ending 12/2022. While expenses have increased by 6.2% per year over the past 5 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
WE BUILD LIFE-LONG RELATIONSHIPS BY SUPPORTING FINANCIAL NEEDS, DREAMS, AND POSSIBILITES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE YEAR, THE CREDIT UNION GRANTED 15,876 LOANS TOTALING $385,186,949. IN ADDITION, 3,446 NEW MEMBERSHIPS WERE OPENED. OVERALL, THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO 66,388 MEMBERS. CRANE CREDIT UNION AND HULMAN FIELD TECHNICIANS FEDERAL CREDIT UNION MERGED TOGETHER EFFECTIVE SEPTEMBER 30TH, 2022, ALLOWING THE CREDIT UNION TO BETTER SERVE THE FINANCIAL NEEDS OF ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Sparks Ceo/president | Officer | 40 | $254,820 |
Bryan Myers Chief Operating Officer | Officer | 40 | $162,928 |
Gary Michael Wiggington Vice President It | Officer | 40 | $120,466 |
Tim Lukomski Left 072022 Chief Financial Officer | Officer | 40 | $117,922 |
Stacy N Lengacher Employee | 40 | $109,349 | |
Kenneth R Greenwell Board Member | Officer | 4 | $31,400 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Electronic Strategies Inc It Consulting | 12/30/22 | $809,582 |
Qsi Atm | 12/30/22 | $446,361 |
Windstream Communications | 12/30/22 | $297,696 |
Access Softek Inc Electronic Banking | 12/30/22 | $414,651 |
Jack Henry And Associates Core Banking System | 12/30/22 | $356,653 |
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 | $36,829,050 |
| Investment income | $3,247,956 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,993 |
| Net Gain/Loss on Asset Sales | $10,639 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $40,555,341 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $19,200 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $987,174 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,485,726 |
| Pension plan accruals and contributions | $560,867 |
| Other employee benefits | $1,874,783 |
| Payroll taxes | $689,409 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,671 |
| Fees for services: Accounting | $141,065 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,641,145 |
| Advertising and promotion | $1,209,651 |
| Office expenses | $618,620 |
| Information technology | $215,511 |
| Royalties | $0 |
| Occupancy | $1,560,227 |
| Travel | $126,115 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,768,897 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,024,239 |
| Insurance | $195,481 |
| All other expenses | $1,077,373 |
| Total functional expenses | $30,013,057 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,173,736 |
| Savings and temporary cash investments | $42,803,903 |
| Pledges and grants receivable | $2,560,678 |
| Accounts receivable, net | $99,005 |
| Loans from Officers, Directors, or Controlling Persons | $2,211,071 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $730,934,049 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $500,131 |
| Net Land, buildings, and equipment | $12,472,056 |
| Investments—publicly traded securities | $175,738,556 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $9,915,869 |
| Other assets | $31,661,382 |
| Total assets | $1,017,070,436 |
| Accounts payable and accrued expenses | $4,618,880 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,095,474 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $62,101,932 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $860,078,557 |
| Total liabilities | $927,894,843 |
| 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 | $89,175,593 |
| Total liabilities and net assets/fund balances | $1,017,070,436 |