Northwoods Community Credit Union
- Assets
- $95.5m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 37
- Location
- Park Falls, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-1020766
Organization Overview
Northwoods Community Credit Union is located in Park Falls, WI. As of 12/2021, Northwoods Community Credit Union employed 37 individuals. Northwoods 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, Northwoods Community Credit Union generated $3.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $3.1m during the year ending 12/2021. While expenses have increased by 0.3% 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
PROVIDING FINANCIAL SECURITY AND OUTSTANDING SERVICE FOR OUR MEMBERS.
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 1,453 NEW DEPOSIT ACCOUNTS IN 2021. AS OF 12/31/21 WE HAD 8,590 MEMBERS.
THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 1,118 LOANS DURING 2021. AS OF 12/31/21 WE HAD 4,582 OUTSTANIDNG LOANS RECEIVABLE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sally Zoesch President | Officer | 40 | $94,250 |
Teresa Gehrman VP Lending | Officer | 40 | $75,791 |
Sandy Kennedy Compliance O | Officer | 40 | $45,855 |
Ashley Pankratz Branch Manag | Officer | 40 | $35,443 |
Mark Marczak VP Operation | Officer | 40 | $7,783 |
Roger Strand Vice Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
First Data Processing Inc Debit Card Proc | 12/30/21 | $238,946 |
Share One Core System | 12/30/21 | $120,038 |
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 | $3,011,675 |
| Investment income | $97,312 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $9,206 |
| Net Rental Income | $7,425 |
| Net Gain/Loss on Asset Sales | $298 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,125,916 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,401 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $259,122 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $887,134 |
| Pension plan accruals and contributions | $45,779 |
| Other employee benefits | $370,181 |
| Payroll taxes | $80,616 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,099 |
| Fees for services: Accounting | $15,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $25,914 |
| Advertising and promotion | $19,198 |
| Office expenses | $638,356 |
| Information technology | $237,974 |
| Royalties | $0 |
| Occupancy | $114,338 |
| Travel | $5,102 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,844 |
| Interest | $36 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $133,594 |
| Insurance | $37,904 |
| All other expenses | $0 |
| Total functional expenses | $3,119,750 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,024,355 |
| Savings and temporary cash investments | $16,090,801 |
| 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 | $54,605,183 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $190,448 |
| Net Land, buildings, and equipment | $2,289,745 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $20,304,910 |
| Intangible assets | $0 |
| Other assets | $1,019,062 |
| Total assets | $95,524,504 |
| Accounts payable and accrued expenses | $805,750 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $202,271 |
| 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 | $86,484,409 |
| Total liabilities | $87,492,430 |
| 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 | $8,032,074 |
| Total liabilities and net assets/fund balances | $95,524,504 |
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