Glacier Hills Credit Union
- Assets
- $212.9m
- Revenue
- $8.8m
- Investments
- $44.0m
- Employees
- 66
- Location
- West Bend, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-0803157
Organization Overview
Glacier Hills Credit Union is located in West Bend, WI. As of 12/2021, Glacier Hills Credit Union employed 66 individuals. Glacier Hills 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, Glacier Hills Credit Union generated $8.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $6.3m during the year ending 12/2021. While expenses have increased by 6.2% 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
A COOPERATIVE, NONPROFIT CORPORATION, INCORPATED UNDER WISCONSIN STATE LAW TO ENCOURGE THRIFT AMONG ITS MEMBERS, CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE COST, AND PROVIDE AN OPPORTUNITY FOR ITS MEMBERS TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED LOW COST FINANCIAL SERVICES TO 16,834 MEMBERS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tami Winkler President | Officer | 40 | $162,498 |
Rebecca Korth Mortgage Loan Manager | 40 | $108,146 | |
Chris Trost Director Of Lending | 40 | $100,259 | |
Eric Schmoldt CFO | Officer | 40 | $44,463 |
Ken Schuh Vice Chairperson | OfficerTrustee | 1 | $0 |
Stan Miske Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fiserv Inc Core Processor | 12/30/21 | $859,488 |
Ontech Systems Inc It Maintenance | 12/30/21 | $156,332 |
Humana Inc Health Insurance Provider | 12/30/21 | $531,288 |
National Credit Union Admin Insurance | 12/30/21 | $227,381 |
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 | $8,365,432 |
| Investment income | $412,555 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,670 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,784,657 |
| 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. | $206,961 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,896,750 |
| Pension plan accruals and contributions | $72,493 |
| Other employee benefits | $534,847 |
| Payroll taxes | $159,870 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $53,230 |
| Fees for services: Accounting | $24,711 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,114 |
| Advertising and promotion | $238,203 |
| Office expenses | $224,569 |
| Information technology | $687,208 |
| Royalties | $0 |
| Occupancy | $269,640 |
| Travel | $4,868 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,266 |
| Interest | $315,825 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $373,369 |
| Insurance | $22,508 |
| All other expenses | $191,521 |
| Total functional expenses | $6,324,377 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,018,310 |
| Savings and temporary cash investments | $20,920,652 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $289,707 |
| Loans from Officers, Directors, or Controlling Persons | $146,265 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $136,358,414 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $216,324 |
| Net Land, buildings, and equipment | $4,394,934 |
| Investments—publicly traded securities | $3,576,219 |
| Investments—other securities | $44,023,654 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $930,294 |
| Total assets | $212,874,773 |
| Accounts payable and accrued expenses | $2,314,054 |
| 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 | $5,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $185,872,972 |
| Total liabilities | $193,187,026 |
| 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 | $19,687,747 |
| Total liabilities and net assets/fund balances | $212,874,773 |
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