Iron County Community Credit Union
- Assets
- $41.4m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 18
- Location
- Hurley, WI
- Founding
- Data as of
- 12/2023
- EIN
- 39-0833053
Organization Overview
Iron County Community Credit Union is located in Hurley, WI. As of 12/2023, Iron County Community Credit Union employed 18 individuals. Iron County Community 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, Iron County Community Credit Union generated $2.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $1.5m during the year ending 12/2023. While expenses have increased by 4.4% 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
THE IRON COUNTY COMMUNITY CREDIT UNION IS A MEMBER-OWNED COMMUNITY BASED FINANCIAL CO-OPERATIVE, WHOSE GOAL IS TO BECOME ITS MEMBERS' PREFERRED FINANCIAL INSTITUTION, OFFERING A REASONABLE RANGE OF FINANCIAL SERVICES AT FAIR AND REASONABLE RATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 314 NEW DEPOSIT ACCOUNTS IN 2023. AS OF 12/31/23 WE HAD 3,912 MEMBERS.
THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 609 NEW LOANS TO OUR MEMBERS DURING 2023. AS OF 12/31/23 WE HAD 1,924 LOANS TO OUR MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Marczak President | Officer | 40 | $87,023 |
Heather Verbos Vice Preside | Officer | 40 | $61,283 |
Susan Wolfe Chair | OfficerTrustee | 0.5 | $0 |
Nancy Lundquist Vice Chair | OfficerTrustee | 0.5 | $0 |
Daneil Soine Treasurer | OfficerTrustee | 0.5 | $0 |
Dianne Alexandroni Secretary | OfficerTrustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Shazam Card Processor | 12/30/23 | $149,776 |
Enhanced Software Products Core Processor | 12/30/23 | $102,767 |
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 | $1,695,442 |
| Investment income | $760,097 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $5,064 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$5,733 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,454,870 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $148,306 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $278,424 |
| Pension plan accruals and contributions | $17,583 |
| Other employee benefits | $50,963 |
| Payroll taxes | $34,088 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,831 |
| Fees for services: Accounting | $5,918 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $82,735 |
| Advertising and promotion | $17,683 |
| Office expenses | $442,723 |
| Information technology | $70,585 |
| Royalties | $0 |
| Occupancy | $44,360 |
| Travel | $9,359 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,911 |
| Interest | $259 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $46,084 |
| Insurance | $12,437 |
| All other expenses | $0 |
| Total functional expenses | $1,472,911 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,116,470 |
| Savings and temporary cash investments | $9,821,966 |
| 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 | $28,180,782 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $43,403 |
| Net Land, buildings, and equipment | $339,809 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,345,964 |
| Intangible assets | $0 |
| Other assets | $528,163 |
| Total assets | $41,376,557 |
| Accounts payable and accrued expenses | $720,140 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $34,296,744 |
| Total liabilities | $35,016,884 |
| 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 | $6,359,673 |
| Total liabilities and net assets/fund balances | $41,376,557 |