Andigo Credit Union
- Assets
- $850.1m
- Revenue
- $43.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Schaumburg, IL
- Founding
- 01/1980
- Data as of
- 12/2019
- EIN
- 36-1508191
Organization Overview
Andigo Credit Union is located in Schaumburg, IL. The organization was established in 1980. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. Andigo 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 12/2019, Andigo Credit Union generated $43.5m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $37.6m during the year ending 12/2019. While expenses have increased by 7.0% 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION IS A FULL SERVICE, STATE-CHARTERED CREDIT UNION PROVIDING A BROAD RANGE OF LOAN AND DEPOSIT PRODUCTS AND OTHER FINANCIAL SERVICES TO ITS MEMBERS LOCATED THROUGHOUT THE US USING VARIOUS CHANNELS INCLUDING BRANCHES, A CALL CENTER, AND THE INTERNET.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXTENSION OF CREDIT TO MEMBERS IS THE PRIMARY FUNCTION OF THE CREDIT UNION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Murphy Chief Executive Officer | OfficerTrustee | 40 | $625,716 |
Larry Rosin Chief Financial Officer | OfficerTrustee | 40 | $366,260 |
Jean Theis Chief Operating Officer | Officer | 40 | $357,355 |
Sean Bowers Chief Lending Officer | Officer | 40 | $352,024 |
Matthew Hancock Vice President - Business Services | 40 | $229,060 | |
Christine Stotland Vice President - Member Experience | 40 | $221,235 |
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 | $36,101,951 |
| Investment income | $7,395,239 |
| 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 | $43,497,190 |
| 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. | $1,701,356 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $7,764,163 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $689,727 |
| Other employee benefits | $1,278,972 |
| Payroll taxes | $660,850 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $59,704 |
| Fees for services: Accounting | $301,565 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,932,297 |
| Office expenses | $1,772,039 |
| Information technology | $2,265,317 |
| Royalties | $0 |
| Occupancy | $1,460,637 |
| Travel | $62,890 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $122,616 |
| Interest | $3,395,127 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,277,693 |
| Insurance | $37,137 |
| All other expenses | $661,226 |
| Total functional expenses | $37,616,202 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,185,393 |
| Savings and temporary cash investments | $116,391,269 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $3,348,403 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $609,960,202 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,529,122 |
| Net Land, buildings, and equipment | $13,547,694 |
| Investments—publicly traded securities | $80,230,599 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $23,909,224 |
| Total assets | $850,101,906 |
| Accounts payable and accrued expenses | $22,588,170 |
| 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 | $723,452,342 |
| Total liabilities | $746,040,512 |
| 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 | $104,061,394 |
| Total liabilities and net assets/fund balances | $850,101,906 |
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|---|---|---|
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 |
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Department Of Financial Institution Division Of Credit Unions In Ind Columbus, IN | $1,964,165,275 | $88,438,069 |
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