Utilities Credit Union
- Assets
- $0.0
- Revenue
- $100.0k
- Investments
- $0.0
- Employees
- 3
- Location
- Eau Claire, WI
- Founding
- Data as of
- 09/2021
- EIN
- 39-1017036
Organization Overview
Utilities Credit Union is located in Eau Claire, WI. As of 09/2021, Utilities Credit Union employed 3 individuals. Utilities 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 09/2021, Utilities Credit Union generated $100.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (10.6%) each year. All expenses for the organization totaled $553.7k during the year ending 09/2021. 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
PROVIDE COMPETITIVE DIVIDENDS ON SHARE SAVINGS ACCOUNTS AND COMPETITIVE LOAN RATES TO MEMBERS THROUGH SECURED AND UNSECURED LOANS AND HOME EQUITY LINES OF CREDIT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SECURED LOANS TO MEMBERS. APPROVED 29 LOANS DURING 2021. 154 LOANS WITH A BALANCE OF $1,562,300 AS OF SEPTEMBER 30, 2021.
PROVIDE HOME EQUITY LINES OF CREDIT LOANS TO MEMBERS. DURING 2021, 30 ADVANCES ON LINES OF CREDIT. 47 LOANS WITH A BALANCE OF $975,508 AS OF SEPTEMBER 30, 2021.
PROVIDE UNSECURED LOANS TO MEMBERS. APPROVED 113 ADVANCES TO MEMBERS WITH UNSECURED LINES OF CREDIT IN 2021. 146 LOANS WITH A BALANCE OF $181,255 AS OF SEPTEMBER 30, 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heidi Schultz President - Treasurer | OfficerTrustee | 42 | $48,549 |
Rebecca Mcilhargey Secretary | OfficerTrustee | 2 | $0 |
John Ness Chairman | OfficerTrustee | 2 | $0 |
Thomas Bachmeier Vice Chairman | OfficerTrustee | 1 | $0 |
Lori Drilling Director | Trustee | 1 | $0 |
Scott Seaholm Director | Trustee | 1 | $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 | $82,731 |
| Investment income | $17,269 |
| 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 | $100,000 |
| 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. | $48,549 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $20,371 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,515 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,100 |
| Advertising and promotion | $293 |
| Office expenses | $13,385 |
| Information technology | $16,562 |
| Royalties | $0 |
| Occupancy | $550 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $512 |
| Insurance | $3,815 |
| All other expenses | $3,376 |
| Total functional expenses | $553,653 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $0 |