Members Advantage Credit Union
- Assets
- $169.0m
- Revenue
- $6.8m
- Investments
- $38.8m
- Employees
- 42
- Location
- Wisconsin Rapids, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-6062826
Organization Overview
Members Advantage Credit Union is located in Wisconsin Rapids, WI. As of 12/2021, Members Advantage Credit Union employed 42 individuals. Members Advantage 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, Members Advantage Credit Union generated $6.8m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $5.3m during the year ending 12/2021. While expenses have increased by 6.1% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
A MEMBER-OWNED FINANCIAL ORGANIZATION DEDICATED TO: MEETING THE CHANGING NEEDS OF MEMBERS IN FRIENDLY & PROFESSIONAL MANNER; PROVIDING A VARIETY OF COMPETITIVELY PRICED FINANCIAL PRODUCTS & FINANCIAL PRODUCTS & SERVICES; & MAINTAINING THE CREDIT UNION'S LONG-TERM STABILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE FUNDED 1,421 LOANS DURING 2021. AS OF 12/31/21, WE HAD $42,606,210 IN MORTGAGES/HOME EQUITY LINES, $36,530, IN CONSUMER LOANS AND $11,409,829 IN MEMBER BUSINESS LOANS. WE ALSO HAD 1,756 CREDIT CARD ACCOUNTS WITH OUR MEMBERS.
WE HAVE DEPOSIT, TRANSACTION, AND INVESTMENT ACCOUNTS WITH 12,115 MEMBERS AT 12/31/21. DURING 2021, WE OPENED 1,968 NEW DEPOSIT, TRANSACTION, AND INVESTMENT ACCOUNTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Bulin CEO | Officer | 40 | $270,340 |
Scott Vandehey Evp | Officer | 40 | $152,854 |
Tammy Schwebach-Erdman CFO | Officer | 40 | $151,157 |
Shelley Young Mortgage Originator | 40 | $102,700 | |
Thomas Scharff Chair | OfficerTrustee | 1 | $2,475 |
Leanne Pearson Secretary | OfficerTrustee | 1 | $1,725 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Altmann Construction Construction/remodel | 12/30/19 | $1,965,925 |
Datamatic View Software | 12/30/19 | $225,348 |
Strata Defense It/computers | 12/30/19 | $123,844 |
Data Financial Cash Recyclers | 12/30/19 | $109,026 |
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 | $6,380,366 |
| Investment income | $263,824 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,671 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,836,184 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,847 |
| 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. | $756,364 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,371,608 |
| Pension plan accruals and contributions | $47,685 |
| Other employee benefits | $305,942 |
| Payroll taxes | $119,723 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $27,276 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,109 |
| Advertising and promotion | $50,232 |
| Office expenses | $207,262 |
| Information technology | $192,201 |
| Royalties | $0 |
| Occupancy | $193,503 |
| Travel | $10,928 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $25,040 |
| Interest | $4 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $332,444 |
| Insurance | $48,153 |
| All other expenses | $133,500 |
| Total functional expenses | $5,305,464 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,576,093 |
| Savings and temporary cash investments | $7,369,990 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $233,640 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $86,742,543 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $89,587 |
| Net Land, buildings, and equipment | $4,292,502 |
| Investments—publicly traded securities | $22,982,545 |
| Investments—other securities | $38,835,554 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,881,427 |
| Total assets | $169,003,881 |
| Accounts payable and accrued expenses | $3,004,107 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $140,444,455 |
| Total liabilities | $143,448,562 |
| 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 | $25,555,319 |
| Total liabilities and net assets/fund balances | $169,003,881 |
Grants Awarded
Over the last fiscal year, Members Advantage Credit Union has awarded $30,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
WOOD COUNTY HUMAN SERVICES PURPOSE: PROGRAM ASSISTANCE | $7,500 |
PORTAGE COUNTY HHS ADMINISTRATORS PURPOSE: PROGRAM ASSISTANCE | $7,500 |
PORTAGE COUNTY HHS ADMINISTRATORS PURPOSE: PROGRAM ASSISTANCE | $7,500 |
WOOD COUNTY HUMAN SERVICES PURPOSE: PROGRAM ASSISTANCE | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chinese American Service League Inc Chicago, IL | $15,835,299 | $20,315,146 |
Sholom Home East Inc St Paul, MN | $55,805,227 | $20,264,604 |
Dow Rummel Village Sioux Falls, SD | $76,421,386 | $18,523,416 |
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 |