Guardian Credit Union
- Assets
- $291.7m
- Revenue
- $12.9m
- Investments
- $0.0
- Employees
- 120
- Location
- Oak Creek, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-0334442
Organization Overview
Guardian Credit Union is located in Oak Creek, WI. As of 12/2021, Guardian Credit Union employed 120 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 12/2021, Guardian Credit Union generated $12.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $11.4m during the year ending 12/2021. 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
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 $292 MILLION IN ASSETS PROVIDING SAVINGS AND LENDING SERVICES TO OVER 30,180 MEMBERS WORKING AND LIVING IN SOUTHEAST WISCONSIN.
WE HAVE OVER $171.6 MILLION IN CONSUMER LOANS OUTSTANDING. IN ADDITION, WE SERVICE OVER $229.8 MILLION IN 1ST MORTGAGE LOANS INCLUDING $2.9 MILLION IN COMMERCIAL REAL ESTATE LOANS.
WE HAVE TOTAL DEPOSITS IN EXCESS OF $267.0 MILLION INCLUDING REGULAR SAVINGS, CHECKING, CERTIFICATES OF DEPOSIT, IRA'S, HEALTH SAVINGS ACCOUNTS, CHRISTMAS CLUB AND YOUTH SAVINGS ACCOUNTS. 14,730 OF OUR MEMBERS HAVE A CHECKING ACCOUNT WITH US WHICH IS 48.8% 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 |
|---|---|---|---|
Thomas Sloey Mortgage Originator | 40 | $245,815 | |
Kevin Nitka Ceo/board Treasurer | Officer | 50 | $222,115 |
Steven Heiderer Senior Vice President | 45 | $121,593 | |
David Zwaska Chief Credit Officer | 45 | $117,751 | |
James Chudy Chief Accounting Officer | 45 | $112,742 | |
Kevin Correa Chief Administration Officer | 40 | $112,195 |
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 | $10,172,297 |
| Investment income | $1,091,254 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,589,276 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,852,827 |
| 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 | $383,838 |
| Compensation of current officers, directors, key employees. | $243,252 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,259,488 |
| Pension plan accruals and contributions | $50,093 |
| Other employee benefits | $687,626 |
| Payroll taxes | $314,599 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,381 |
| Fees for services: Accounting | $37,328 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $250,047 |
| Advertising and promotion | $0 |
| Office expenses | $2,071,956 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $659,239 |
| Travel | $17,695 |
| 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 | $804,299 |
| Insurance | $0 |
| All other expenses | $103,131 |
| Total functional expenses | $11,426,661 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,227,097 |
| Savings and temporary cash investments | $27,875,000 |
| 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 | $172,605,478 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $611,029 |
| Net Land, buildings, and equipment | $10,153,204 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $67,191,216 |
| Intangible assets | $0 |
| Other assets | $7,066,714 |
| Total assets | $291,729,738 |
| Accounts payable and accrued expenses | $1,146,323 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $108,668 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $140,593 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $6,830,417 |
| Other liabilities | $266,671,982 |
| Total liabilities | $274,897,983 |
| 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 | $16,831,755 |
| Total liabilities and net assets/fund balances | $291,729,738 |
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