Central Illinois Credit Union
- Assets
- $25.0m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 9
- Location
- Champaign, IL
- Founding
- 06/1949
- Data as of
- 12/2022
- EIN
- 37-0653843
Organization Overview
Central Illinois Credit Union is located in Champaign, IL. The organization was established in 1949. 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, Central Illinois Credit Union employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central Illinois 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, Central Illinois Credit Union generated $1.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $1.0m during the year ending 12/2022. While expenses have increased by 5.9% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CREDIT UNION'S PURPOSE IS TO PROVIDE ITS MEMBERSHIP A FULL RANGE OF QUALITY FINANCIAL SERVICES AT COMPETITIVE RATES. WE ARE COMMITTED TO MEMBER SERVICE IN A FRIENDLY ATMOSPHERE, LONG-TERM
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED CONSUMER LENDING AND RECEIVED DEPOSITS FROM THE MEMBERSHIP. THE CREDIT UNION SERVICES IN EXCESS OF 5,600 MEMBER SHARE TYPE ACCOUNTS AND 1,100 LOAN ACCOUNTS, INCLUDING VISA CARDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chelsea Anderson President | Officer | 40 | $96,328 |
Cheri Scott Board Chair | Trustee | 1 | $0 |
Jeff Morton Board Vice-Chair | Trustee | 1 | $0 |
Kurt Kennen Board Treasurer | Trustee | 1 | $0 |
Anthony Smith Secretary | Trustee | 1 | $0 |
Kristin Blackwell Director | Trustee | 1 | $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 | $896,407 |
| Investment income | $234,267 |
| 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 | $1,235,468 |
| 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. | $104,460 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $222,824 |
| Pension plan accruals and contributions | $2,512 |
| Other employee benefits | $22,356 |
| Payroll taxes | $25,523 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,933 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $43,199 |
| Office expenses | $358,111 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $28,783 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,461 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $34,757 |
| Insurance | $25,308 |
| All other expenses | $2,372 |
| Total functional expenses | $1,019,001 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $118,020 |
| Savings and temporary cash investments | $14,824,699 |
| 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 | $8,147,541 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $28,645 |
| Net Land, buildings, and equipment | $149,228 |
| Investments—publicly traded securities | $1,482,342 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $273,876 |
| Total assets | $25,024,351 |
| Accounts payable and accrued expenses | $115,831 |
| 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 | $22,543,470 |
| Total liabilities | $22,659,301 |
| 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 | $2,365,050 |
| Total liabilities and net assets/fund balances | $25,024,351 |