Superior Municipal Employees Credit Union
- Assets
- $3.0m
- Revenue
- $149.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Superior, WI
- Founding
- Data as of
- 12/2023
- EIN
- 39-0863581
Organization Overview
Superior Municipal Employees Credit Union is located in Superior, WI. As of 12/2023, Superior Municipal Employees Credit Union employed 2 individuals. Superior Municipal Employees 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, Superior Municipal Employees Credit Union generated $149.2k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $199.1k during the year ending 12/2023. 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
SUPERIOR MUNICIPAL EMPLOYEES CREDIT UNION IS DEDICATED AND FOCUSED ON MEETING THE MEMBERSHIPS EVOLVING FINANCIAL NEEDS WHILE MAINTAINING OUR FINANCIAL STABILITY. WE AFFIRM WE ARE A MEMBER-OWNED, MEMBER-DRIVEN, NOT- FOR-PROFIT FINANCIAL ORGANIZATION.
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 12 NEW DEPOSIT ACCOUNTS IN 2023. AS OF 12/31/23 WE HAD 544 MEMBERS.
THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 113 NEW LOANS DURING 2023. AS OF 12/31/23 WE HAD 334 OUTSTANDING LOANS RECEIVABLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Conway President | Officer | 40 | $73,336 |
Dennis Dalbec Chair | OfficerTrustee | 0.25 | $0 |
Jason Serck Vice Chair | OfficerTrustee | 0.25 | $0 |
William Cronin Treasurer | OfficerTrustee | 0.25 | $0 |
Dale Kutz Secretary | OfficerTrustee | 0.25 | $0 |
Richard Taber Director | Trustee | 0.25 | $0 |
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 | $130,817 |
| Investment income | $18,415 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $149,232 |
| 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. | $66,336 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,819 |
| Pension plan accruals and contributions | $7,000 |
| Other employee benefits | $450 |
| Payroll taxes | $6,712 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,409 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $178 |
| Office expenses | $11,265 |
| Information technology | $3,041 |
| Royalties | $0 |
| Occupancy | $3,796 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $163 |
| Interest | $92 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $943 |
| Insurance | $5,560 |
| All other expenses | $0 |
| Total functional expenses | $199,106 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,917 |
| Savings and temporary cash investments | $285,078 |
| 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 | $2,567,708 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,194 |
| Net Land, buildings, and equipment | $1,175 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $361 |
| Intangible assets | $0 |
| Other assets | $99,690 |
| Total assets | $2,957,123 |
| Accounts payable and accrued expenses | $2,184 |
| 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 | $2,457,832 |
| Total liabilities | $2,460,016 |
| 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 | $497,107 |
| Total liabilities and net assets/fund balances | $2,957,123 |