Guardian Credit Union
- Assets
- $299.1m
- Revenue
- $13.5m
- Investments
- $0.0
- Employees
- 115
- Location
- Oak Creek, WI
- Founding
- Data as of
- 12/2022
- EIN
- 39-0334442
Organization Overview
Guardian Credit Union is located in Oak Creek, WI. As of 12/2022, Guardian Credit Union employed 115 individuals. Guardian 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, Guardian Credit Union generated $13.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $11.8m during the year ending 12/2022. 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
GUARDIAN CREDIT UNION IS A NOT FOR PROFIT MEMBER OWNED FINANCIAL COOPERATIVE DEDICATED TO BEING THE MEMBER'S PRIMARY FINANCIAL INSTITUTION BY PROVIDING SUPERIOR SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GUARDIAN CREDIT UNION IS THE LARGEST FULL-SERVICE CREDIT UNION HEADQUARTERED IN MILWAUKEE, WISCONSIN WITH $299 MILLION IN ASSETS PROVIDING SAVINGS AND LENDING SERVICES TO OVER 28,975 MEMBERS WORKING AND LIVING IN SOUTHEAST WISCONSIN.
WE HAVE OVER $197.4 MILLION IN CONSUMER LOANS OUTSTANDING. IN ADDITION, WE SERVICE OVER $219.6 MILLION IN 1ST MORTGAGE LOANS INCLUDING $2.2 MILLION IN COMMERCIAL REAL ESTATE LOANS.
WE HAVE TOTAL DEPOSITS IN EXCESS OF $272.4 MILLION INCLUDING REGULAR SAVINGS, CHECKING, CERTIFICATES OF DEPOSIT, IRA'S, HEALTH SAVINGS ACCOUNTS, CHRISTMAS CLUB AND YOUTH SAVINGS ACCOUNTS. 14,587 OF OUR MEMBERS HAVE A CHECKING ACCOUNT WITH US WHICH IS 50.3% OF OUR TOTAL MEMBERSHIP. MANY OF OUR CHECKING ACCOUNT MEMBERS USE DIRECT DEPOSIT AND OTHER ELECTRONIC DELIVERY CHANNELS SUCH AS INTERNET BANKING AND BILL PAYMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Nitka Ceo/board Treasurer | Officer | 50 | $232,280 |
Steven Heiderer Senior Vice President | 45 | $125,213 | |
David Zwaska Chief Credit Officer | 45 | $124,737 | |
Kevin Correa Chief Administration Officer | 40 | $117,075 | |
James Chudy Chief Accounting Officer | 45 | $117,832 | |
Thomas Sloey Mortgage Originator | 40 | $104,826 |
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 | $11,828,753 |
| Investment income | $1,274,621 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $395,111 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,498,485 |
| 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 | $504,216 |
| Compensation of current officers, directors, key employees. | $252,990 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,337,351 |
| Pension plan accruals and contributions | $83,990 |
| Other employee benefits | $741,167 |
| Payroll taxes | $162,933 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,014 |
| Fees for services: Accounting | $49,972 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $259,440 |
| Advertising and promotion | $0 |
| Office expenses | $2,168,646 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $655,435 |
| Travel | $24,756 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $822,057 |
| Insurance | $0 |
| All other expenses | $574,607 |
| Total functional expenses | $11,833,729 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,797,396 |
| Savings and temporary cash investments | $16,105,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $407,156 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $196,307,881 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,322,950 |
| Net Land, buildings, and equipment | $9,895,178 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $61,331,817 |
| Intangible assets | $0 |
| Other assets | $9,964,243 |
| Total assets | $299,131,621 |
| Accounts payable and accrued expenses | $1,372,071 |
| Grants payable | $0 |
| Deferred revenue | $147,898 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $28,556 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $129,760 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $6,848,917 |
| Other liabilities | $272,107,908 |
| Total liabilities | $280,635,110 |
| 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 | $18,496,511 |
| Total liabilities and net assets/fund balances | $299,131,621 |