Governmental Employees Credit Union
- Assets
- $106.5m
- Revenue
- $4.4m
- Investments
- $0.0
- Employees
- 20
- Location
- La Crosse, WI
- Founding
- Data as of
- 12/2023
- EIN
- 39-6049660
Organization Overview
Governmental Employees Credit Union is located in La Crosse, WI. As of 12/2023, Governmental Employees Credit Union employed 20 individuals. Governmental 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 12/2023, Governmental Employees Credit Union generated $4.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $4.0m during the year ending 12/2023. While expenses have increased by 7.0% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
A NONPROFIT MEMBER-OWNED THRIFT INSTITUTION ORGANIZED TO PROVIDE FINANCIAL SERVICES TO INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE FUNDED 1,221 LOANS DURING 2023. AS OF 12/31/23, WE HAD 696 MORTGAGES/HOME EQUITY, 3,084 CONSUMER LOANS AND 13 MEMBER BUSINESS LOANS. WE ALSO HAD 1,111 CREDIT CARD ACCOUNTS AS OF 12/31/23.
WE HAVE DEPOSIT, TRANSACTION, AND INVESTMENT ACCOUNTS WITH 6,717 MEMBERS AT 12/31/23. DURING 2023, WE OPENED 2,620 NEW DEPOSIT, TRANSACTION AND INVESTMENT ACCOUNTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wayne Delagrave Chair | OfficerTrustee | 1 | $1,200 |
Jeffrey Greene Vice-Chair | OfficerTrustee | 1 | $1,200 |
Shawn Handland Treasurer | OfficerTrustee | 1 | $1,200 |
Jayne Abraham Secretary | OfficerTrustee | 1 | $1,200 |
Thomas Kratt Director | Trustee | 1 | $1,200 |
Travis Carley President | Officer | 40 | $124,534 |
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 | $4,173,116 |
| Investment income | $204,953 |
| 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 | $4,378,184 |
| 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. | $130,534 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $693,236 |
| Pension plan accruals and contributions | $47,595 |
| Other employee benefits | $277,741 |
| Payroll taxes | $64,029 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,635 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,510 |
| Fees for services: Other | $34,701 |
| Advertising and promotion | $209,043 |
| Office expenses | $121,196 |
| Information technology | $193,113 |
| Royalties | $0 |
| Occupancy | $89,233 |
| Travel | $1,646 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $27,159 |
| Interest | $13,585 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $43,301 |
| Insurance | $33,854 |
| All other expenses | $60,375 |
| Total functional expenses | $3,961,938 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $462,654 |
| Savings and temporary cash investments | $12,665,270 |
| 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 | $91,033,907 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $209,169 |
| Net Land, buildings, and equipment | $632,713 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $393,019 |
| Intangible assets | $0 |
| Other assets | $1,091,012 |
| Total assets | $106,487,744 |
| Accounts payable and accrued expenses | $475,832 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $27,779 |
| 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 | $96,288,111 |
| Total liabilities | $96,791,722 |
| 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 | $9,696,022 |
| Total liabilities and net assets/fund balances | $106,487,744 |