Marathon County Employees Credit Union
- Assets
- $40.6m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 8
- Location
- Wausau, WI
- Founding
- Data as of
- 12/2022
- EIN
- 39-1045228
Organization Overview
Marathon County Employees Credit Union is located in Wausau, WI. As of 12/2022, 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 12/2022, Marathon County Employees Credit Union generated $1.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $1.3m during the year ending 12/2022. While expenses have increased by 3.4% per year over the past 8 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
2022
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 181 NEW DEPOSIT ACCOUNTS IN 2022. AS OF 12/31/22 WE HAD 2,852 MEMBERS.
THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 1,154 NEW LOANS DURING 2022. AS OF 12/31/22 WE HAD 2,256 LOANS RECEIVABLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jami Olcott President | Officer | 60 | $111,076 |
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 | $1,568,697 |
| Investment income | $154,158 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $4,525 |
| 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 | $1,727,380 |
| 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. | $117,276 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $313,097 |
| Pension plan accruals and contributions | $57,732 |
| Other employee benefits | $112,531 |
| Payroll taxes | $29,521 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $783 |
| Fees for services: Accounting | $10,399 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $38,582 |
| Advertising and promotion | $33,405 |
| Office expenses | $297,428 |
| Information technology | $111,469 |
| Royalties | $0 |
| Occupancy | $67,869 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,994 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,779 |
| Insurance | $33,399 |
| All other expenses | $0 |
| Total functional expenses | $1,341,166 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $409,901 |
| Savings and temporary cash investments | $9,393,192 |
| 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 | $28,769,601 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $30,913 |
| Net Land, buildings, and equipment | $19,884 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $280,731 |
| Intangible assets | $0 |
| Other assets | $1,710,457 |
| Total assets | $40,614,679 |
| Accounts payable and accrued expenses | $426,475 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $4,194 |
| 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 | $34,744,949 |
| Total liabilities | $35,175,618 |
| 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 | $5,439,061 |
| Total liabilities and net assets/fund balances | $40,614,679 |