Siu Credit Union
- Assets
- $477.2m
- Revenue
- $25.7m
- Investments
- $69.9m
- Employees
- 151
- Location
- Carbondale, IL
- Founding
- 02/1942
- Data as of
- 12/2023
- EIN
- 37-0722141
Organization Overview
Siu Credit Union is located in Carbondale, IL. The organization was established in 1942. 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 12/2023, Siu Credit Union employed 151 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Siu 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, Siu Credit Union generated $25.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $21.7m during the year ending 12/2023. While expenses have increased by 5.8% 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
TO PROVIDE HIGH QUALITY FINANCIAL SERVICES FOR OUR MEMBERS/OWNERS, ENHANCING THEIR FINANCIAL WELL-BEING WHILE MAINTAINING THE FINANCIAL STRENGTH OF THE CREDIT UNION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 44,799 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, THERE WERE 155,042 LOANS OUTSTANDING TOTALING $331,350,243.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $4,467,366 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Sievers Chairman | Trustee | 2 | $0 |
Deborah Nelson Vice Chairman | Trustee | 2 | $0 |
Jeff Mcgoy Secretary | Trustee | 2 | $0 |
Jp Dunn Treasurer | Trustee | 2 | $0 |
Bill Capie Director | Trustee | 2 | $0 |
Melissa Easton Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $81,889 |
| 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 | $81,889 |
| Total Program Service Revenue | $22,227,058 |
| Investment income | $3,126,298 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $302,481 |
| 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 | $25,737,726 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $136,260 |
| Grants and other assistance to domestic individuals. | $10,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,111,756 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,821,341 |
| Pension plan accruals and contributions | $294,581 |
| Other employee benefits | $799,654 |
| Payroll taxes | $462,602 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $53,287 |
| Fees for services: Accounting | $204,655 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $66,000 |
| Fees for services: Other | $2,128,761 |
| Advertising and promotion | $531,206 |
| Office expenses | $810,996 |
| Information technology | $1,772,221 |
| Royalties | $0 |
| Occupancy | $590,241 |
| Travel | $7,951 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $195,155 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $937,313 |
| Insurance | $140,015 |
| All other expenses | $75,190 |
| Total functional expenses | $21,684,488 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,467,218 |
| Savings and temporary cash investments | $48,032,051 |
| 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 | $329,133,180 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,232,534 |
| Net Land, buildings, and equipment | $6,144,221 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $69,905,688 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,303,058 |
| Total assets | $477,217,950 |
| Accounts payable and accrued expenses | $6,221,768 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $440,066 |
| 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 | $422,343,457 |
| Total liabilities | $429,005,291 |
| 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 | $48,212,659 |
| Total liabilities and net assets/fund balances | $477,217,950 |
Grants Awarded
Over the last fiscal year, Siu Credit Union has awarded $85,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
SOUTHERN ILLINOIS UNIVERSITY FOUNDATION PURPOSE: CONTRIBUTIONS AND SPONSORSHIPS SUPPORTING EDUCATION, RESEARCH AND SERVICE PROGRAMS | $73,700 |
SPECIAL OLYMPICS ILLINOIS PURPOSE: CONTRIBUTIONS AND SPONSORSHIPS SUPPORTING OLYMPIC-TYPE SPORTS FOR PEOPLE WITH INTELLECTUAL DISABILITIES. | $5,800 |
CENTERSTONE OF ILLINOIS INC PURPOSE: EVENT SPONSORSHIPS SUPPORTING MENTAL HEALTH, ADDICTION, AND OTHER SERVICES IN THE CARBONDALE AREA | $6,000 |