Earthmover Credit Union
- Assets
- $376.3m
- Revenue
- $18.1m
- Investments
- $0.0
- Employees
- 134
- Location
- Aurora, IL
- Founding
- 10/1958
- Data as of
- 12/2022
- EIN
- 36-6062499
Organization Overview
Earthmover Credit Union is located in Aurora, IL. The organization was established in 1958. 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, Earthmover Credit Union employed 134 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Earthmover 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, Earthmover Credit Union generated $18.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $13.6m during the year ending 12/2022. While expenses have increased by 3.9% 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
2022
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 INSTITUTION SERVICES IN A FRIENDLY AND PROFESSIONAL MANNER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED CREDIT UNION SERVICES TO 26,614 MEMBERS INCLUDING 1,948 NEW MEMBER ACCOUNTS.
OTHER PROGRAM SERVICES: PROVIDED $9,341,918 IN NEW HOME EQUITY SERVICES TO MEMBERS; 871 HOME EQUITY LINE OF CREDIT ADVANCES AND 163 HOME EQUITY CLOSED END LOANS. PROVIDED NEW MORTGAGE SERVICES TO 90 MEMBERS, TOTALING $17,058,102. PROVIDED VISA CREDIT CARDS TO 12,382 MEMBERS; ISSUED 353 NEW VISA CREDIT CARDS. FINANCED 1,683 VEHICLES AND 1,249 CONSUMER LOANS, INCLUDING 98 INDIRECT LOANS. PROVIDED 2,199,520 ATM TRANSACTIONS. PROVIDED AUDIO RESPONSE TO 4,195 MEMBERS, ONLINE BANKING/BILL PAYMENT INTERNET ACCESS TO 18,025 MEMBERS, E-STATEMENT ACCESS TO 10,660 MEMBERS, MOBILE BANKING ACCESS TO 13,910 MEMBERS. PROVIDED IRA ACCOUNTS TO 639 MEMBERS.
ISSUED 4,015 NEW LOANS AND LOAN ADVANCES, TOTALING $62,973,273.63.
PROVIDED 16,260 CHECKING SERVICES TO MEMBERS, INCLUDING DEBIT CARD SERVICES TO 13,928 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly Mcdonough Ceo/president | Officer | 45 | $302,057 |
Noreen Wilkerson VP Finance | Officer | 45 | $224,751 |
Amy Hart Vice-President | Officer | 45 | $189,984 |
Robert T Westmoreland Vice-President | Officer | 45 | $180,751 |
Janel Cabadas Vice-President | Officer | 45 | $155,432 |
Matthew Meyer Vice-President | Officer | 45 | $125,569 |
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 | $15,928,912 |
| Investment income | $2,206,103 |
| 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 | $18,135,015 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,807,803 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,286,812 |
| Pension plan accruals and contributions | $220,851 |
| Other employee benefits | $1,472,237 |
| Payroll taxes | $385,567 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $69,444 |
| Fees for services: Accounting | $64,167 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $91,993 |
| Fees for services: Other | $69,455 |
| Advertising and promotion | $453,440 |
| Office expenses | $437,086 |
| Information technology | $1,118,325 |
| Royalties | $0 |
| Occupancy | $380,963 |
| Travel | $4,388 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $156,859 |
| Interest | $0 |
| Payments to affiliates | $37,064 |
| Depreciation, depletion, and amortization | $552,196 |
| Insurance | $0 |
| All other expenses | $21,941 |
| Total functional expenses | $13,608,595 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,840,265 |
| Savings and temporary cash investments | $18,364,737 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $712,765 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $226,595,970 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,620,569 |
| Net Land, buildings, and equipment | $8,841,916 |
| Investments—publicly traded securities | $114,020,304 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,270,107 |
| Total assets | $376,266,633 |
| Accounts payable and accrued expenses | $2,916,193 |
| 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 | $321,111,263 |
| Total liabilities | $324,027,456 |
| 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 | $52,239,177 |
| Total liabilities and net assets/fund balances | $376,266,633 |