Streator Community Credit Union
- Assets
- $37.9m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 15
- Location
- Streator, IL
- Founding
- Data as of
- 12/2022
- EIN
- 36-2259536
Organization Overview
Streator Community Credit Union is located in Streator, IL. 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 12/2022, Streator Community Credit Union employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Streator Community 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 12/2022, Streator Community Credit Union generated $1.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. While expenses have increased by 2.2% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
CREDIT UNION OPERATES FOR MULTIPLE PURPOSES, TO ASSIST OUR MEMBERS IN THE MANAGEMENT OF THEIR FINANCIAL WELL-BEING BY PROVIDING LOANS, SAVINGS ACCOUNTS, AND OTHER FINANCIAL INSTITUTION SERVICES IN A FRIENDLY AND PROFESSIONAL MANNER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED 8 NEW FIRST MORTGAGE LOANS THIS YEAR WITH A TOTAL OF 88 FIRST MORTGAGES FOR OUR MEMBERS. THERE ARE NO SECOND MORTGAGE LOANS.
PROVIDED 250 NEW OTHER LOANS TO OUR MEMBERS THIS YEAR WITH A TOTAL OF 515 OTHER LOANS INCLUDING CAR LOANS, VISA LOANS, UNSECURED AND SECURED LOANS.
PROVIDED 125 NEW SHARE ACCOUNTS THIS YEAR WITH A TOTAL OF 5,448 SHARE ACCOUNTS TO OUR MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Rhynes President | Officer | 40 | $66,146 |
Paula Ligori Vice Preside | Officer | 40 | $53,119 |
Mike Blakemore Board Member | Trustee | 1 | $0 |
Todd Cashmer Supervisory | Trustee | 2 | $0 |
Jack Cooley Credit Commi | Trustee | 1 | $0 |
Scott Goerne Supervisory | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $6,000 |
| 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 | $6,000 |
| Total Program Service Revenue | $900,803 |
| Investment income | $304,471 |
| 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 | $1,248,736 |
| 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. | $144,937 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $274,608 |
| Pension plan accruals and contributions | $7,565 |
| Other employee benefits | $47,002 |
| Payroll taxes | $30,858 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,600 |
| Fees for services: Lobbying | $500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $24,993 |
| Office expenses | $243,369 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $44,374 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $30,149 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $32,168 |
| Insurance | $22,671 |
| All other expenses | $0 |
| Total functional expenses | $1,194,376 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $850,412 |
| Savings and temporary cash investments | $193,863 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $244,596 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,787,051 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $45,840 |
| Net Land, buildings, and equipment | $201,264 |
| Investments—publicly traded securities | $27,163,402 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $379,672 |
| Total assets | $37,866,100 |
| Accounts payable and accrued expenses | $178,725 |
| 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 | $34,200,887 |
| Total liabilities | $34,379,612 |
| 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 | $3,486,488 |
| Total liabilities and net assets/fund balances | $37,866,100 |