Indiana University Credit Union
- Assets
- $1.3b
- Revenue
- $48.8m
- Investments
- $3.8m
- Employees
- 237
- Location
- Bloomington, IN
- Founding
- 11/2019
- Data as of
- 12/2020
- EIN
- 35-0987917
Organization Overview
Indiana University Credit Union is located in Bloomington, IN. The organization was established in 2019. 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 12/2020, Indiana University Credit Union employed 237 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indiana University 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 12/2020, Indiana University Credit Union generated $48.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.1% each year. All expenses for the organization totaled $37.7m during the year ending 12/2020. While expenses have increased by 7.1% 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.
Since 2014, Indiana University Credit Union has awarded 16 individual grants totaling $370,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
STATE CHARTERED CREDIT UNION
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREDIT UNION PROGRAMS. ALL ACTIVITIES ARE STATE CHARTERED CREDIT UNION ACTIVITIES WHICH ARE EXEMPT UNDER SECTION 501(C)(14).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bryan W Price President And CEO | Officer | 40 | $541,689 |
Andrew Allard Svp, Chief Operating Officer | Officer | 40 | $256,162 |
Julie Ragsdale Svp, Chief Administrative Officer | Officer | 40 | $229,969 |
Sarah Rogers SVP Business Services | Officer | 40 | $200,659 |
Chris Hawk Svp, CFO | Officer | 40 | $196,652 |
Teddie Gambler SVP Information Technology | Officer | 40 | $170,231 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jack Henry & Assoc Core Credit Union Os | 12/30/20 | $779,893 |
Town And Country Chrysler Indirect Loan Origination | 12/30/20 | $307,478 |
Iu Sports Properties Marketing | 12/30/20 | $247,598 |
Strauser Construction Commercial Construction | 12/30/20 | $984,715 |
Ncr Corportation Online Banking, Mobile Tech | 12/30/20 | $1,035,692 |
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 | $45,881,921 |
| Investment income | $2,496,276 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$3,183 |
| Net Gain/Loss on Asset Sales | $409,536 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $48,794,263 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $30,545 |
| 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. | $2,084,448 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,703,249 |
| Pension plan accruals and contributions | $882,300 |
| Other employee benefits | $2,575,089 |
| Payroll taxes | $834,751 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $46,772 |
| Fees for services: Accounting | $295,379 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,117,237 |
| Office expenses | $1,202,876 |
| Information technology | $3,250,627 |
| Royalties | $0 |
| Occupancy | $855,915 |
| Travel | $40,046 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $84,584 |
| Interest | $6,685,416 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,481,920 |
| Insurance | $156,244 |
| All other expenses | $1,274,891 |
| Total functional expenses | $37,718,462 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,787,173 |
| Savings and temporary cash investments | $92,566,526 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,625,177 |
| Loans from Officers, Directors, or Controlling Persons | $667,520 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $920,002,794 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,685,964 |
| Net Land, buildings, and equipment | $18,819,500 |
| Investments—publicly traded securities | $255,170,240 |
| Investments—other securities | $3,804,200 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $43,211,421 |
| Total assets | $1,349,340,515 |
| Accounts payable and accrued expenses | $4,177,808 |
| 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 | $50,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,973,089 |
| Total liabilities | $60,150,897 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,126,331,589 |
| Paid-in or capital surplus, or land, building, or equipment fund | $56,121,921 |
| Retained earnings, endowment, accumulated income, or other funds | $106,736,108 |
| Total liabilities and net assets/fund balances | $1,349,340,515 |
Grants Awarded
Over the last fiscal year, Indiana University Credit Union has awarded $30,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Bloomington, IN PURPOSE: To improve lives by the caring power of communities around the world to advance the common good. | $20,000 |
Bloomington, IN PURPOSE: Support for Community-led and inspired office space for start-ups and small local companies. | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Consumers Cooperative Credit Union Gurnee, IL | $2,946,745,312 | $132,618,570 |
Ih Mississippi Valley Credit Union Moline, IL | $1,832,277,197 | $105,810,576 |
Commonwealth Credit Union Frankfort, KY | $1,891,090,350 | $88,350,902 |
Department Of Financial Institution Division Of Credit Unions In Ind Columbus, IN | $1,964,165,275 | $88,438,069 |
Forum Credit Union Indianapolis, IN | $1,879,317,913 | $93,129,055 |
Scott Credit Union Edwardsville, IL | $1,647,347,103 | $74,654,217 |
Deere Employees Credit Union Moline, IL | $1,799,657,083 | $82,112,773 |
Credit Union 1 Rantoul, IL | $1,226,789,437 | $72,991,911 |
Interra Credit Union Goshen, IN | $1,620,181,637 | $68,430,398 |
Park Community Credit Union Inc Louisville, KY | $1,121,794,262 | $53,014,034 |
Beacon Credit Union Wabash, IN | $1,514,735,601 | $47,143,377 |
Vibrant Credit Union Moline, IL | $1,061,532,656 | $50,336,419 |