Access Credit Union
- Assets
- $59.0m
- Revenue
- $2.6m
- Investments
- $67.1k
- Employees
- 15
- Location
- Broadview, IL
- Founding
- Data as of
- 12/2023
- EIN
- 36-6068676
Organization Overview
Access Credit Union is located in Broadview, IL. As of 12/2023, Access Credit Union employed 15 individuals. Access 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 12/2023, Access Credit Union generated $2.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $2.4m during the year ending 12/2023. While expenses have increased by 1.0% per year over the past 9 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
2023
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
CREDIT UNION MAKES AND SERVICES CONSUMER AND REAL ESTATE LOANS TO MEMBERS. THE NUMBER OF LOANS OUTSTANDING AT 12/31/23 WAS 1,726 FOR A TOTAL OF $31,490,094.
CREDIT UNION PAYS OUT DIVIDENDS TO ITS MEMBERS ON SHARE DEPOSIT ACCOUNTS AT A MARKET RATE OF INTEREST. TOTAL NUMBER OF SHARE ACCOUNTS AT 12/31/23 IS 8,534 IN THE AMOUNT OF $51,061,160.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Parker Chairman | OfficerTrustee | 2 | $0 |
Craig Lundt Vice Chairman | OfficerTrustee | 2 | $0 |
Yogi Patel Treasurer | OfficerTrustee | 2 | $0 |
Donna Sebestyen Secretary | OfficerTrustee | 2 | $0 |
Alexis Wallace Director | Trustee | 2 | $0 |
Kurtis Todd 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 | $2,238,258 |
| Investment income | $347,222 |
| 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 | $2,585,480 |
| 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. | $284,475 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $580,092 |
| Pension plan accruals and contributions | $30,774 |
| Other employee benefits | $75,849 |
| Payroll taxes | $63,921 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,292 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $96,049 |
| Advertising and promotion | $0 |
| Office expenses | $80,697 |
| Information technology | $293,998 |
| Royalties | $0 |
| Occupancy | $151,772 |
| Travel | $3,686 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,943 |
| Interest | $138,792 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $74,478 |
| Insurance | $22,297 |
| All other expenses | $0 |
| Total functional expenses | $2,406,754 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $165,300 |
| Savings and temporary cash investments | $1,290,037 |
| 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 | $31,490,094 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $277,094 |
| Net Land, buildings, and equipment | $2,290,215 |
| Investments—publicly traded securities | $22,561,689 |
| Investments—other securities | $67,059 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $833,056 |
| Total assets | $58,974,544 |
| Accounts payable and accrued expenses | $239,962 |
| 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 | $51,061,160 |
| Total liabilities | $51,301,122 |
| 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 | $7,673,422 |
| Total liabilities and net assets/fund balances | $58,974,544 |