Tri-County Credit Union
- Assets
- $33.5m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 13
- Location
- Marinette, WI
- Founding
- Data as of
- 12/2020
- EIN
- 39-1022442
Organization Overview
Tri-County Credit Union is located in Marinette, WI. As of 12/2020, Tri-County Credit Union employed 13 individuals. Tri-County 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 12/2020, Tri-County Credit Union generated $1.1m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $1.1m during the year ending 12/2020. While expenses have increased by 3.8% per year over the past 5 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THE BEST FINANCIAL SERVICES POSSIBLE TO 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 170 NEW DEPOSIT ACCOUNTS IN 2020. AS OF 12/31/20 WE HAD 2,692 MEMBERS.
THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 362 NEW LOANS DURING 2020. AS OF 12/31/20 WE HAD 2,645 TOTAL LOANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rachel Raygo President | Officer | 50 | $139,576 |
Pamela Grosschadle VP Member Se | Officer | 40 | $42,917 |
Denise Oberleitner VP Lending | Officer | 38 | $36,108 |
Dallas Blair Chair | OfficerTrustee | 1.5 | $0 |
Wanda Carlson Vice Chair | OfficerTrustee | 1.5 | $0 |
Irene Mayou Treasurer | OfficerTrustee | 1.5 | $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 | $940,089 |
| Investment income | $160,686 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $3,518 |
| 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 | $1,104,293 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $218,601 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $155,485 |
| Pension plan accruals and contributions | $10,000 |
| Other employee benefits | $74,370 |
| Payroll taxes | $27,763 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,823 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $39,505 |
| Advertising and promotion | $18,590 |
| Office expenses | $133,567 |
| Information technology | $64,616 |
| Royalties | $0 |
| Occupancy | $83,645 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,361 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $83,577 |
| Insurance | $21,244 |
| All other expenses | $0 |
| Total functional expenses | $1,106,074 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $880,760 |
| Savings and temporary cash investments | $13,306,647 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,256 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $15,348,908 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $70,870 |
| Net Land, buildings, and equipment | $1,078,918 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,471,540 |
| Intangible assets | $0 |
| Other assets | $302,399 |
| Total assets | $33,468,298 |
| Accounts payable and accrued expenses | $66,474 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $53,468 |
| 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 | $29,175,900 |
| Total liabilities | $29,295,842 |
| 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 | $4,172,456 |
| Total liabilities and net assets/fund balances | $33,468,298 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Tri-County Credit Union has recieved totaling $5,200.
| Awarding Organization | Amount |
|---|---|
Wisconsin Credit Union Foundationinc Madison, WI PURPOSE: TO FUND TECHNOLOGY UPGRADES. | $5,200 |
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|---|---|---|
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Nebraska Student Loan Program Inc Lincoln, NE | $230,624,169 | $45,453,979 |
Botsford Continuing Care Corporation Southfield, MI | $28,554,348 | $16,692,642 |
American Association Of Orthopaedic Surgeons Of America Rosemont, IL | $21,165,468 | $24,653,127 |
Blackburn University Carlinville, IL | $69,417,787 | $20,572,819 |
Community Support Services Inc Akron, OH | $23,036,222 | $26,517,082 |
Montgomery Place Chicago, IL | $31,885,880 | $16,111,662 |
Region 3b Area Agency On Aging Battle Creek, MI | $12,282,051 | $21,229,876 |
Southwest Counseling Solutions Inc Detroit, MI | $10,435,524 | $23,926,279 |
Adec Inc Bristol, IN | $35,707,130 | $22,045,756 |