Illinois Valley Credit Union

Organization Overview

Illinois Valley Credit Union is located in Peru, IL. The organization was established in 1955. 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, Illinois Valley Credit Union employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Illinois Valley 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, Illinois Valley Credit Union generated $1.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $1.7m during the year ending 12/2022. While expenses have increased by 4.2% per year over the past 8 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

2022

Describe the Organization's Mission:

Part 3 - Line 1

ILLINOIS STATE CHARTERED CREDIT UNION OPERATED FOR THE MUTUAL BENEFIT OF ITS MEMBERS

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE CREDIT UNION MAKES AND SERVICES CONSUMER LOANS AND REAL ESTATE LOANS TO MEMBERS. THE NUMBER OF LOANS OUTSTANDING AT 12/31/22 WAS 2,094 FOR A TOTAL OF $34,590,518.


THE CREDIT UNION PAYS OUT DIVIDENDS TO ITS MEMBERS' SHARE DEPOSIT ACCOUNTS AT A MARKET RATE OF INTEREST. THE NUMBER OF SHARE ACCOUNTS AT 12/31/22 WAS 4,356 FOR A TOTAL OF $32,310,543.


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Board, Officers & Key Employees

Name (title)Compensation
Tom Kist
President
$117,440
Steve Piano
Secretary
$0
Polly Ragazincky
Vice Chairperson
$0
Linda Bertrand-Burt
Chairperson
$0
Chris Romagnoli
Director
$0
Debbie Feeney
Director
$0

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$1,839,964
Investment income $19,739
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $13,000
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 $1,872,703

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$14,919,062
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