Mercer Credit Union
- Assets
- $3.0m
- Revenue
- $93.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Aledo, IL
- Founding
- 02/1969
- Data as of
- 12/2021
- EIN
- 36-2717304
Organization Overview
Mercer Credit Union is located in Aledo, IL. The organization was established in 1969. 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, Mercer Credit Union employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mercer 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, Mercer Credit Union generated $93.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $77.7k during the year ending 12/2021. While expenses have increased by 1.6% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST OUR MEMBERS IN THE MANAGEMENT OF THEIR FINANCIAL WELL-BEING BY PROVIDING LOANS, SAVINGS ACCOUNTS AND OTHER FINANCIAL SERVICES IN A FRIENDLY AND PROFESSIONAL MANNER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED LOANS TO 177 MEMBERS
RECEIVED SAVINGS FROM 526 MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ray Leng Director | Trustee | 2 | $0 |
Dennis Mellgren Director | Trustee | 2 | $0 |
Diana Eggen Secretary | Trustee | 2 | $0 |
Barbara Reick Director | Trustee | 2 | $0 |
Robert Stockham Chairman Of The Board | Trustee | 2 | $0 |
Ila Bertrand Director | Trustee | 2 | $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 | $89,225 |
| Investment income | $3,988 |
| 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 | $93,213 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $36,227 |
| Pension plan accruals and contributions | $2,944 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $57 |
| Office expenses | $7,734 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,723 |
| Interest | $0 |
| Payments to affiliates | $3,683 |
| Depreciation, depletion, and amortization | $390 |
| Insurance | $2,822 |
| All other expenses | $951 |
| Total functional expenses | $77,717 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $996,349 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,989,873 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,396 |
| Net Land, buildings, and equipment | $779 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $26,407 |
| Total assets | $3,016,804 |
| Accounts payable and accrued expenses | $5,241 |
| 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 | $2,659,797 |
| Total liabilities | $2,665,038 |
| 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 | $351,766 |
| Total liabilities and net assets/fund balances | $3,016,804 |
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|---|---|---|
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Iaa Credit Union Bloomington, IL | $345,554,883 | $10,972,923 |
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Community Trust Credit Union Gurnee, IL | $300,266,331 | $7,919,294 |
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Partnership Financial Credit Union Morton Grove, IL | $361,844,381 | $9,633,298 |
Iowa Corporate Central Credit Union Dubuque, IA | $165,623,209 | $6,087,437 |
Department Of Financial Institution Division Of Credit Unions In Ind Indianapolis, IN | $100,553,243 | $5,146,617 |