Co-Op Credit Union
- Assets
- $471.0m
- Revenue
- $17.6m
- Investments
- $0.0
- Employees
- 119
- Location
- Black River Falls, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-0745853
Organization Overview
Co-Op Credit Union, operating under the name Co-op Credit Union, is located in Black River Falls, WI. As of 12/2021, Co-op Credit Union employed 119 individuals. Co-op 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, Co-op Credit Union generated $17.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $13.6m during the year ending 12/2021. While expenses have increased by 3.7% per year over the past 6 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
SERVING OUR MEMBERS, WHERE THEY ARE, THROUGH ALL STAGES OF LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CCU HAD DEPOSIT, TRANSACTION, AND INVESTMENT ACCOUNTS WITH 21,093 OF OUR MEMBERS AT 12/31. DURING 2021, CCU OPENED 5,407 NEW DEPOSIT, TRANSACTION AND INVESTMENT ACCOUNTS.
CCU FUNDED 4,439 LOANS DURING 2021. AS OF 12/31/21, CCU SERVICED 3,433 MORTGAGES/HOME EQUITY LOANS, 7,270 CONSUMER LOANS, 628 MEMBER BUSINESS LOANS, AND 2,608 CREDIT CARD ACCOUNTS WITH OUR MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Chrisinger Pres/ceo | Officer | 40 | $656,393 |
Tim Tranberg Chief Lending Officer | Officer | 40 | $120,069 |
Michele Steien Chief Talent Officer | Officer | 40 | $103,234 |
Jayme Thompson Mortgage Lending Manager | 40 | $101,700 | |
Kris Goetzka Chief Operations Officer | Officer | 40 | $93,512 |
Megan Ellingson Chief Financial Officer | Officer | 40 | $89,790 |
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 | $16,003,882 |
| Investment income | $902,257 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $45,389 |
| Net Rental Income | -$600 |
| Net Gain/Loss on Asset Sales | $599,143 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,551,199 |
| 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. | $1,439,228 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,259,627 |
| Pension plan accruals and contributions | $128,931 |
| Other employee benefits | $1,111,433 |
| Payroll taxes | $322,644 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $76,000 |
| Fees for services: Accounting | $26,360 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $126,612 |
| Advertising and promotion | $436,525 |
| Office expenses | $664,803 |
| Information technology | $681,391 |
| Royalties | $0 |
| Occupancy | $336,580 |
| Travel | $25,998 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $145,292 |
| Interest | $133,439 |
| Payments to affiliates | $52,935 |
| Depreciation, depletion, and amortization | $503,323 |
| Insurance | $71,518 |
| All other expenses | $0 |
| Total functional expenses | $13,613,152 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,322,200 |
| Savings and temporary cash investments | $17,371,367 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $443,043 |
| Loans from Officers, Directors, or Controlling Persons | $1,761,080 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $339,538,101 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $513,409 |
| Net Land, buildings, and equipment | $7,911,437 |
| Investments—publicly traded securities | $9,358,457 |
| Investments—other securities | $0 |
| Investments—program-related | $70,125,156 |
| Intangible assets | $0 |
| Other assets | $18,700,449 |
| Total assets | $471,044,699 |
| Accounts payable and accrued expenses | $2,879,943 |
| Grants payable | $0 |
| Deferred revenue | $129,561 |
| 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 | $417,651,651 |
| Total liabilities | $420,661,155 |
| 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 | $50,383,544 |
| Total liabilities and net assets/fund balances | $471,044,699 |
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