Abri Credit Union
- Assets
- $405.5m
- Revenue
- $14.6m
- Investments
- $8.2m
- Employees
- 124
- Location
- Romeoville, IL
- Founding
- 12/1949
- Data as of
- 12/2021
- EIN
- 36-2146035
Organization Overview
Abri Credit Union is located in Romeoville, IL. The organization was established in 1949. 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, Abri Credit Union employed 124 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Abri 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, Abri Credit Union generated $14.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $13.9m during the year ending 12/2021. While expenses have increased by 1.9% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ABRI CREDIT UNION IS A NOT-FOR-PROFIT, FULL-SERVICE FINANCIAL COOPERATIVE THAT EXISTS TO HELP OUR MEMBERS SUCCEED FINANCIALLY. WE SERVE RESIDENTS & BUSINESSES IN DUPAGE, WILL & PORTIONS OF COOK COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED FINANCIAL SERVICES TO 27,266 MEMBERS, PROVIDED 14,278 CONSUMER AND REAL ESTATE LOANS, MAINTAINED 48,700 DEPOSIT ACCOUNTS FOR THE BENEFIT OF OUR MEMBERS/OWNERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Cedergren President/ceo | Officer | 50 | $343,046 |
Patricia Locke Evp/coo | Officer | 50 | $221,457 |
Colleen Brooks SVP Administration | 50 | $156,453 | |
Kathleen Moncek Term 621 Evp Operations | Officer | 50 | $144,857 |
Kimberly Nichols SVP Member Experience | 50 | $128,418 | |
Jamie Hogue SVP Lending | 50 | $113,570 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fiserv Inc Data Processing | 12/30/21 | $867,332 |
Call One Phone System | 12/30/21 | $282,178 |
Strategic Resource Management Contract Negotiations | 12/30/21 | $251,833 |
Visa Inc Credit And Debit Cards | 12/30/21 | $152,996 |
Marquis Software Solutions Inc Crm System | 12/30/21 | $126,772 |
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 | $13,365,749 |
| Investment income | $1,112,441 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $26,291 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,619,681 |
| 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. | $873,054 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,794,353 |
| Pension plan accruals and contributions | $173,490 |
| Other employee benefits | $824,729 |
| Payroll taxes | $393,709 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $37,735 |
| Fees for services: Accounting | $52,092 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $460,418 |
| Advertising and promotion | $335,415 |
| Office expenses | $248,240 |
| Information technology | $1,285,400 |
| Royalties | $0 |
| Occupancy | $730,393 |
| Travel | $103,335 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $85,568 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $446,134 |
| Insurance | $168,907 |
| All other expenses | $100,184 |
| Total functional expenses | $13,891,826 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,546,767 |
| Savings and temporary cash investments | $76,137,766 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $603,040 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $199,338,800 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $645,653 |
| Net Land, buildings, and equipment | $8,777,109 |
| Investments—publicly traded securities | $94,337,118 |
| Investments—other securities | $8,227,592 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $14,900,618 |
| Total assets | $405,514,463 |
| Accounts payable and accrued expenses | $1,890,476 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,104,411 |
| 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 | $369,013,229 |
| Total liabilities | $372,008,116 |
| 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 | $33,506,347 |
| Total liabilities and net assets/fund balances | $405,514,463 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Beacon Credit Union Wabash, IN | $1,514,735,601 | $47,143,377 |
Vibrant Credit Union Moline, IL | $1,061,532,656 | $50,336,419 |
Indiana University Credit Union Bloomington, IN | $1,349,340,515 | $48,794,263 |
Andigo Credit Union Schaumburg, IL | $850,101,906 | $43,497,190 |
1st Midamerica Credit Union Bethalto, IL | $860,013,719 | $45,661,014 |
Great Lakes Credit Union Bannockburn, IL | $1,045,676,236 | $50,981,092 |
Financial Center First Credit Union Indianapolis, IN | $817,315,000 | $38,154,429 |
Hoosier Hills Credit Union Bedford, IN | $808,986,869 | $33,438,671 |
Dutrac Community Credit Union Dubuque, IA | $980,523,751 | $36,287,980 |
Numark Credit Union Joliet, IL | $604,429,082 | $32,569,723 |
Dupage Credit Union Naperville, IL | $557,263,458 | $27,754,068 |
Abbott Laboratories Employer Credit Union Gurnee, IL | $1,021,053,305 | $27,617,158 |