Peoria Hiway Credit Union
- Assets
- $4.5m
- Revenue
- $235.5k
- Investments
- $0.0
- Employees
- 2
- Location
- Peoria, IL
- Founding
- 09/1951
- Data as of
- 12/2021
- EIN
- 37-0715957
Organization Overview
Peoria Hiway Credit Union is located in Peoria, IL. The organization was established in 1951. 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, Peoria Hiway Credit Union employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Peoria Hiway 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, Peoria Hiway Credit Union generated $235.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $162.4k during the year ending 12/2021. While expenses have increased by 4.2% 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 CONSUMER LENDING AND RECEIVED DEPOSITS FROM THE CREDIT UNION MEMBERSHIP. THE CREDIT UNION SERVICES IN EXCESS OF 870 MEMBER SHARE TYPE ACCOUNTS AND 250 LOAN TYPE ACCOUNTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Biagini President/manager | Officer | 40 | $50,000 |
Joel Morris Vice-Chairperson | Trustee | 1 | $0 |
Jennifer Earleywine Chairperson | Trustee | 1 | $0 |
Gregory Svoboda Treasurer | Trustee | 1 | $0 |
Janeen Bradshaw Director | Trustee | 1 | $0 |
Melissa Bornder Secretary | 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 | $209,613 |
| Investment income | $2,533 |
| 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 | $235,484 |
| 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. | $50,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $32,233 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,550 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $350 |
| Fees for services: Accounting | $500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $279 |
| Office expenses | $9,635 |
| Information technology | $11,909 |
| 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 | $1,450 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,377 |
| Insurance | $4,262 |
| All other expenses | $3,849 |
| Total functional expenses | $162,419 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $922,880 |
| 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 | $3,377,890 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $368 |
| Net Land, buildings, and equipment | $464 |
| Investments—publicly traded securities | $150,000 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $36,513 |
| Total assets | $4,488,315 |
| Accounts payable and accrued expenses | $8,902 |
| 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 | $3,930,669 |
| Total liabilities | $3,939,571 |
| 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 | $548,744 |
| Total liabilities and net assets/fund balances | $4,488,315 |
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