Fort Community Credit Union
- Assets
- $350.2m
- Revenue
- $12.8m
- Investments
- $18.5m
- Employees
- 98
- Location
- Fort Atkinson, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-0851648
Organization Overview
Fort Community Credit Union is located in Fort Atkinson, WI. As of 12/2021, Fort Community Credit Union employed 98 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 12/2021, Fort Community Credit Union generated $12.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $10.7m during the year ending 12/2021. While expenses have increased by 7.2% per year over the past 7 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
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 3,917 LOANS DURING 2021. AS OF 12/31/2021 WE HAD $57,134,566 MORTGAGES/HOME EQUITY LINES, $98,527,353 CONSUMER LOANS, $15,521,625 MEMBER BUSINESS LOANS, AND $5,130,495 CREDIT CARD ACCOUNTS WITH OUR MEMBERS.
WE HAVE DEPOSIT, TRANSACTION, AND INVESTMENT ACCOUNTS WITH 21,280 MEMBERS AT 12.31. DURING 2021, WE GREW DEPOSITS IN NEW DEPOSIT, TRANSACTION AND INVESTMENT ACCOUNTS BY $21,070,500.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Johnson Chief Executive Officer | Officer | 40 | $230,312 |
Richard Austin Chief Financial Officer | Officer | 40 | $193,568 |
Michael Gorman Mortgage Loan Officer | 40 | $173,318 | |
Danielle Frawley Chief Lending Officer | Officer | 40 | $130,527 |
Robyn Newcomb Chief Experience Officer | Officer | 40 | $115,967 |
Meghan Bernath Chief Operating Officer | Officer | 40 | $96,424 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Finastra Mobile App Software | 12/30/21 | $234,888 |
Fiserv Debit Card Processing Services | 12/30/21 | $269,054 |
Corelation Core Software And Maintenance | 12/30/21 | $881,132 |
Payment Systems For Credit Unions Inc Credit Card Processing Services | 12/30/21 | $331,347 |
Computers Nationwide Llc It Managed Services | 12/30/21 | $325,828 |
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 | $11,030,048 |
| Investment income | $1,204,526 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $24,070 |
| Net Gain/Loss on Asset Sales | $422,632 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,826,463 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,745 |
| 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. | $859,396 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,104,369 |
| Pension plan accruals and contributions | $171,808 |
| Other employee benefits | $922,522 |
| Payroll taxes | $293,559 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,163 |
| Fees for services: Accounting | $13,239 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $461,441 |
| Advertising and promotion | $359,642 |
| Office expenses | $284,392 |
| Information technology | $597,636 |
| Royalties | $0 |
| Occupancy | $301,231 |
| Travel | $10,257 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $380 |
| Interest | $132,457 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $870,166 |
| Insurance | $75,745 |
| All other expenses | $94,524 |
| Total functional expenses | $10,714,046 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,493,514 |
| Savings and temporary cash investments | $32,029,760 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $796,617 |
| Loans from Officers, Directors, or Controlling Persons | $1,121,673 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $187,879,200 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,261,259 |
| Net Land, buildings, and equipment | $10,564,550 |
| Investments—publicly traded securities | $84,907,559 |
| Investments—other securities | $18,453,888 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,714,008 |
| Total assets | $350,222,028 |
| Accounts payable and accrued expenses | $4,385,142 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $122,957 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $10,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $291,947,543 |
| Total liabilities | $306,455,642 |
| 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 | $43,766,386 |
| Total liabilities and net assets/fund balances | $350,222,028 |
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