Fort Community Credit Union
- Assets
- $361.9m
- Revenue
- $17.2m
- Investments
- $8.0m
- Employees
- 86
- Location
- Fort Atkinson, WI
- Founding
- Data as of
- 12/2023
- EIN
- 39-0851648
Organization Overview
Fort Community Credit Union is located in Fort Atkinson, WI. As of 12/2023, Fort Community Credit Union employed 86 individuals. Fort 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, Fort Community Credit Union generated $17.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $14.8m during the year ending 12/2023. While expenses have increased by 9.4% 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 PURPOSES OF THIS CREDIT UNION ARE: TO ENCOURAGE THRIFT AMONG ITS MEMBERS; TO CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE COST; TO PROVIDE AN OPPORTUNITY FOR EACH OF ITS MEMBERS TO IMPROVE THE MEMBER'S RESPECTIVE ECONOMIC AND SOCIAL CONDITIONS; AND TO PERFORM THE FUNCTIONS AND EXERCISE THE POWERS DESIGNATED FOR CREDIT UNIONS UNDER APPLICABLE LAW.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE FUNDED 4,450 LOANS DURING 2023. AS OF 12/31/2023 WE HAD $115,068,970 MORTGAGES/HOME EQUITY LINES, $104,308,678 CONSUMER LOANS, $15,894,362 MEMBER BUSINESS LOANS, AND $5,632,664 CREDIT CARD ACCOUNTS WITH OUR MEMBERS.
WE HAVE DEPOSIT, TRANSACTION, AND INVESTMENT ACCOUNTS WITH 22,034 MEMBERS AT 12/31/2023. DURING 2023, OUR DEPOSITS INCREASED BY $2,598,242.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dianne Butt Chair (thru December) | Trustee | 1 | $2,400 |
Ernest Witzke Vice-Chair | Trustee | 1 | $1,900 |
Phillip Ristow Treasurer | Trustee | 1 | $2,100 |
Craig Nevermann Director | Trustee | 1 | $1,200 |
Margaret Bare Director | Trustee | 1 | $1,300 |
Rosalinda Martinez Director | Trustee | 1 | $1,400 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Computers Nationwide Llc It Managed Services | 12/30/23 | $471,101 |
Fiserv Debit Card Processing Services | 12/30/23 | $396,641 |
Payment Systems For Credit Unions Inc Credit Card Processing Services | 12/30/23 | $325,703 |
Edge One Itm And Atm Software And Maintenance | 12/30/23 | $187,784 |
Bankjoy Mobile App Software Provider | 12/30/23 | $179,114 |
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 | $11,488 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,488 |
| Total Program Service Revenue | $14,522,749 |
| Investment income | $2,419,818 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $58,245 |
| Net Gain/Loss on Asset Sales | $145,337 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,157,637 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,727 |
| 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. | $861,455 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,426,805 |
| Pension plan accruals and contributions | $238,546 |
| Other employee benefits | $313,418 |
| Payroll taxes | $251,198 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,085 |
| Fees for services: Accounting | $33,053 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,000,403 |
| Advertising and promotion | $414,291 |
| Office expenses | $362,338 |
| Information technology | $1,156,261 |
| Royalties | $0 |
| Occupancy | $301,283 |
| Travel | $35,835 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,013 |
| Interest | $1,048,130 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $760,839 |
| Insurance | $0 |
| All other expenses | $211,881 |
| Total functional expenses | $14,826,272 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $529,625 |
| Savings and temporary cash investments | $27,644,318 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,123,658 |
| Loans from Officers, Directors, or Controlling Persons | $1,206,342 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $238,146,343 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,834,170 |
| Net Land, buildings, and equipment | $9,026,342 |
| Investments—publicly traded securities | $64,015,198 |
| Investments—other securities | $8,042,931 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,288,846 |
| Total assets | $361,857,773 |
| Accounts payable and accrued expenses | $4,389,937 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $189,007 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $24,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $292,561,889 |
| Total liabilities | $321,140,833 |
| 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 | $40,716,940 |
| Total liabilities and net assets/fund balances | $361,857,773 |