United Credit Union

Organization Overview

United Credit Union is located in Chicago, IL. The organization was established in 2001. 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, United Credit Union employed 62 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. United 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, United Credit Union generated $8.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $7.3m during the year ending 12/2021. While expenses have increased by 2.6% 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

TO ENCOURAGE SAVINGS AND PROVIDE CREDIT AT A REASONABLE INTEREST RATE, FOR THE BENEFIT OF MEMBERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

OFFERED FINANCIAL SERVICES (LOANS AND DEPOSIT PRODUCTS) TO OVER 19,000 MEMBERS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Fiserv
Computer System Provider
$565,283
Health Care Service Corporation
Employee Health Insurance
$344,567
At&t
Phone And Internet Service
$189,059
Microdynamics Corp
Statement Processing
$145,758
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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$6,454,108
Investment income $1,667,317
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 $8,121,425

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