Marathon County Employees Credit Union
- Assets
- $37.4m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 8
- Location
- Wausau, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-1045228
Organization Overview
Marathon County Employees Credit Union is located in Wausau, WI. As of 12/2021, Marathon County Employees Credit Union employed 8 individuals. Marathon County 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 12/2021, Marathon County Employees Credit Union generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 3.8% 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
TO SERVE OUR MEMBERS' CHANGING FINANCIAL NEEDS.
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 203 NEW DEPOSIT ACCOUNTS IN 2021. AS OF 12/31/21 WE HAD 2,862 MEMBERS.
THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 1,234 NEW LOANS DURING 2021. AS OF 12/31/21 WE HAD 2,196 LOANS RECEIVABLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jami Olcott President | Officer | 60 | $105,221 |
Robert Bruss Chairman | OfficerTrustee | 5 | $2,800 |
Jackie Bethel Secretary | OfficerTrustee | 1.5 | $1,000 |
Bo Johnson Vice Chair | OfficerTrustee | 1 | $800 |
Aaron Ruff Treasurer | OfficerTrustee | 1 | $800 |
Robert Wilcox Director | Trustee | 1 | $800 |
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 | $1,559,208 |
| Investment income | $11,080 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $4,569 |
| 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 | $1,574,857 |
| 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. | $111,421 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $281,143 |
| Pension plan accruals and contributions | $56,681 |
| Other employee benefits | $112,705 |
| Payroll taxes | $24,850 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,611 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $38,914 |
| Advertising and promotion | $27,237 |
| Office expenses | $309,624 |
| Information technology | $87,701 |
| Royalties | $0 |
| Occupancy | $66,691 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,006 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,073 |
| Insurance | $16,606 |
| All other expenses | $0 |
| Total functional expenses | $1,330,786 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $392,450 |
| Savings and temporary cash investments | $8,284,917 |
| 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 | $26,740,366 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $47,628 |
| Net Land, buildings, and equipment | $28,184 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $252,763 |
| Intangible assets | $0 |
| Other assets | $1,684,480 |
| Total assets | $37,430,788 |
| Accounts payable and accrued expenses | $210,322 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $3,191 |
| 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 | $32,164,428 |
| Total liabilities | $32,377,941 |
| 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 | $5,052,847 |
| Total liabilities and net assets/fund balances | $37,430,788 |
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