Kane County Teachers Credit Union

Organization Overview

Kane County Teachers Credit Union, operating under the name KCT Credit Union, is located in Elgin, IL. The organization was established in 1937. 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, KCT Credit Union employed 120 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. KCT 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 12/2021, KCT Credit Union generated $16.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $14.5m during the year ending 12/2021. While expenses have increased by 11.4% 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

BUILDING STRONGER COMMUNITIES TOGETHER.

Describe the Organization's Program Activity:

Part 3 - Line 4a

1,687 1ST & 2ND MORTGAGES TO MEMBERS. 4,193 AUTO LOANS TO MEMBERS. 76 STUDENT LOANS TO MEMBERS. 5,341 OTHER LOANS/LINES OF CREDIT TO MEMBERS.


9,011 CREDIT CARD LOANS/LINES OF CREDIT TO MEMBERS. 22,524 DEBIT/ATM CARDS TO MEMBERS.


21,152 SHARE DRAFT ACCOUNTS. 29,662 REGULAR SHARE ACCOUNTS. 887 MONEY MARKET ACCOUNTS. 594 SHARE CERTIFICATE ACCOUNTS. 230 IRA ACCOUNTS. 372 HEALTH SAVINGS ACCOUNTS.


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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$15,024,525
Investment income $1,123,518
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 $16,257,755

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