World Council Of Credit Unions Inc is located in Madison, WI. The organization was established in 1971. According to its NTEE Classification (W03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, World Council Of Credit Unions Inc employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. World Council Of Credit Unions Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, World Council Of Credit Unions Inc generated $13.0m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $11.2m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.9%) per year over the past 7 years. 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 ASSIST MEMBERS AND POTENTIAL MEMBERS TO ORGANIZE, EXPAND, IMPROVE AND INTEGRATE CREDIT UNIONS AS EFFECTIVE INSTRUMENTS FOR ECONOMIC DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT SINCE 1971, THE WORLD COUNCIL OF CREDIT UNIONS (WOCCU) HAS BEEN A LEADER OF THE GLOBAL CREDIT UNION MOVEMENT BRINGING ACCESS TO AFFORDABLE FINANCIAL SERVICES TO INDIVIDUALS LIVING IN DEVELOPING COUNTRIES. UNIQUE IN ITS APPROACH OF ADVOCACY AND INTERNATIONAL DEVELOPMENT, WOCCU IS THE INDUSTRY'S GLOBAL LEADING VOICE FOR CREDIT UNIONS WORLDWIDE AND WORKS TO ENSURE A POSITIVE ENVIRONMENT FOR CREDIT UNION INSTITUTIONS.WOCCU'S MODEL FOR STRENGTHENING CREDIT UNIONS AND INCREASING ACCESS TO FINANCIAL SERVICES ON A MASS SCALE RESULTS IN THE PROVISION OF AFFORDABLE, AVAILABLE AND ACCESSIBLE FINANCIAL SERVICES. WOCCU'S CORE CAPABILITIES ARE GROUNDED IN ITS DRIVE TO PROVIDE MILLIONS OF POOR AND LOW-INCOME PEOPLE ACCESS TO THE ARRAY OF FINANCIAL SERVICES THEY NEED THROUGH CREDIT UNIONS, REGARDLESS OF CHALLENGES POSED BY THE SURROUNDING ENVIRONMENT. MOST RECENTLY, WOCCU HAS PROVEN ITS CAPABILITIES IN EIGHT KEY AREAS:1) PROVIDING ACCESS TO THE RURAL POOR 2) DEVELOPING INTEGRATED BUSINESS NETWORKS 3) OFFERING DOMESTIC AND INTERNATIONAL REMITTANCE SERVICES 4) REBUILDING DURING AND AFTER CONFLICT 5) SUPPORTING COMMUNITIES AT RISK 6) RESTRUCTURING AFTER DISASTER 7) ESTABLISHING NEW CREDIT UNION SYSTEMS 8) ENCOURAGING LEGISLATIVE REFORM/REGULATORY SYSTEM DEVELOPMENT.IN ADDITION TO OFFERING INNOVATIVE TECHNOLOGY SOLUTIONS, WOCCU'S TECHNICAL ASSISTANCE PROGRAMS EQUIP CREDIT UNIONS AND OTHER TYPES OF FINANCIAL COOPERATIVES WITH THE TOOLS AND TECHNIQUES NECESSARY TO STRENGTHEN THEIR FINANCIAL MANAGEMENT AND DELIVER FAIRLY PRICED FINANCIAL SERVICES TO LARGE NUMBERS OF POOR AND LOW-INCOME PEOPLE.
TRADE ASSOCIATION WOCCU IS A GLOBAL TRADE ASSOCIATION REPRESENTING CREDIT UNIONS AND OTHER FINANCIAL COOPERATIVE ORGANIZATIONS THROUGH THEIR NATIONAL ASSOCIATIONS WORLDWIDE. WOCCU PROVIDES THE FOLLOWING TYPES OF ACTIVITIES TO SUPPORT ITS MEMBERS: - RAISING AWARENESS OF CREDIT UNIONS AND FINANCIAL COOPERATIVES- FACILITATING THE GLOBAL EXCHANGE OF INFORMATION AND IDEAS- ADVOCATING TO IMPROVE LEGISLATION AND REGULATION INTERNATIONALLY TRADE ASSOCIATION ACTIVITIES ARE FUNDED BY MEMBER DUES AND REGISTRATION FEES FROM THE ANNUAL WORLD CREDIT UNION CONFERENCE. IN CONJUNCTION WITH ITS TRADE ASSOCIATION ACTIVITIES, WOCCU HOLDS AN ANNUAL CONFERENCE FOR CREDIT UNION EXECUTIVES, BOARD MEMBERS AND EMPLOYEES. THE PURPOSE OF THE CONFERENCE IS TO BRING TOGETHER CREDIT UNION LEADERS FOR NETWORKING AND PROVIDE EDUCATION ON INDUSTRY-RELATED ISSUES.
ANNUAL WORLD CREDIT UNION CONFERENCE IN CONJUNCTION WITH ITS TRADE ASSOCIATION ACTIVITIES, WOCCU HOLDS AN ANNUAL CONFERENCE FOR CREDIT UNION EXECUTIVES, BOARD MEMBERS AND EMPLOYEES. THE PURPOSE OF THE CONFERENCE IS TO BRING TOGETHER CREDIT UNION LEADERS FOR NETWORKING AND PROVIDE EDUCATION ON INDUSTRY-RELATED ISSUES. THE CONFERENCE WAS HELD VIRTUALLY IN 2021 DUE TO COVID.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Brian Branch President & CEO | Officer | 40 | $367,807 |
Paul Treinen Chief Operating Officer | Officer | 40 | $253,909 |
Andrew Price Vice President Of Advocacy | Officer | 40 | $203,612 |
Oscar Guzman Regional Director | 40 | $200,372 | |
Megan O'donnell Vice President Of Financia | Officer | 40 | $182,748 |
Ewa Sierzynska Cap Project Chief Of Party | 40 | $157,399 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $8,397,390 |
All other contributions, gifts, grants, and similar amounts not included above | $1,200,000 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $9,597,390 |
Total Program Service Revenue | $3,376,777 |
Investment income | $0 |
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 | $12,974,167 |
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 | $1,439,189 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $1,336,801 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $3,701,133 |
Pension plan accruals and contributions | $255,852 |
Other employee benefits | $994,109 |
Payroll taxes | $559,255 |
Fees for services: Management | $0 |
Fees for services: Legal | $19,863 |
Fees for services: Accounting | $44,412 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $1,356,628 |
Advertising and promotion | $21,943 |
Office expenses | $388,164 |
Information technology | $6,423 |
Royalties | $0 |
Occupancy | $333,787 |
Travel | $236,040 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $92,427 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $97,654 |
Insurance | $105,567 |
All other expenses | $0 |
Total functional expenses | $11,234,507 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,496,468 |
Savings and temporary cash investments | $160,488 |
Pledges and grants receivable | $974,969 |
Accounts receivable, net | $709,559 |
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 | $79,039 |
Net Land, buildings, and equipment | $105,827 |
Investments—publicly traded securities | $0 |
Investments—other securities | $290,342 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $4,405 |
Total assets | $4,821,097 |
Accounts payable and accrued expenses | $664,903 |
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 | $650,025 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $1,314,928 |
Net assets without donor restrictions | $3,506,169 |
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 | $4,821,097 |
Over the last fiscal year, we have identified 2 grants that World Council Of Credit Unions Inc has recieved totaling $27,500.
Awarding Organization | Amount |
---|---|
Unitus Community Credit Union Portland, OR PURPOSE: GENERAL SUPPORT | $17,500 |
One Az Credit Union Phoenix, AZ PURPOSE: UNRESTRICTED | $10,000 |
Organization Name | Assets | Revenue |
---|---|---|
Independent Community Bankers Of America Sauk Centre, MN | $290,014,074 | $45,994,592 |
Credit Union Executives Society Madison, WI | $8,321,099 | $11,726,194 |
Sauget Sanitary Development & Research Association Sauget, IL | $2,077,489 | $11,379,905 |
World Council Of Credit Unions Inc Madison, WI | $4,821,097 | $12,974,167 |
Michigan Credit Union League Plymouth, MI | $88,338,400 | $4,235,709 |
Michigan Townships Association Lansing, MI | $8,385,951 | $4,347,332 |
Minnesota Bankers Association Eden Prairie, MN | $8,043,309 | $3,421,584 |
Wisconsin Credit Union League Inc Madison, WI | $8,422,290 | $3,629,838 |
Minnesota Rural Water Association Elbow Lake, MN | $3,077,826 | $3,261,922 |
Amalgamated Social Benefits Association Chicago, IL | $4,079,204 | $2,494,451 |
Michigan Rural Water Association Okemos, MI | $1,869,015 | $2,731,981 |
Minnesota Telephone Association Inc Stpaul, MN | $1,279,282 | $1,707,745 |