City & County Credit Union
- Assets
- $1.2b
- Revenue
- $39.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Saint Paul, MN
- Founding
- 09/1944
- Data as of
- 12/2022
- EIN
- 41-0191495
Organization Overview
City & County Credit Union is located in Saint Paul, MN. The organization was established in 1944. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. City & County 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, City & County Credit Union generated $39.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $34.3m during the year ending 12/2022. While expenses have increased by 9.7% 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 PROVIDE AFFORDABLE FINANCIAL SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION PROVIDED LOANS OF $228 MILLION TO 12,569 MEMBERS.
THE CREDIT UNION PROVIDES DEPOSIT ACCOUNTS TO APPROXIMATELY 62,200 MEMBERS. THE CREDIT UNION PAID INTEREST AND DIVIDENDS OF $3.1M ON THESE ACCOUNTS.
THE CREDIT UNION PROVIDED LOW COST CHECKING AND RELATED SERVICES TO APPROXIMATELY 40,600 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heidi Wolf Board Member | Trustee | 1 | $2,338 |
Joe Matthews Board Member | Trustee | 1 | $2,324 |
Lou Bruno Board Member | Trustee | 1 | $1,519 |
Nicole Bates Board Member | Trustee | 1 | $1,449 |
Shannon Cunningham Board Member | Trustee | 1 | $1,172 |
Hans Molenaar Board Member | Trustee | 1 | $871 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Clean Cut Outdoor Services Snow Removal And Lawn Care | 12/30/22 | $173,310 |
Connect Financial Llc Software Development | 12/30/22 | $427,761 |
R2i Holdings Llc Marketing | 12/30/22 | $821,515 |
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 | $31,627,446 |
| Investment income | $8,058,783 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$14,125 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $39,672,104 |
| 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 | $3,122,169 |
| Compensation of current officers, directors, key employees. | $3,088,893 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,422,123 |
| Pension plan accruals and contributions | $959,030 |
| Other employee benefits | $1,462,314 |
| Payroll taxes | $765,412 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $64,884 |
| Fees for services: Accounting | $148,454 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,326,596 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,005,075 |
| Travel | $270,450 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $588,641 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,727,607 |
| Insurance | $0 |
| All other expenses | $439,240 |
| Total functional expenses | $34,314,006 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,210,275 |
| Savings and temporary cash investments | $77,096,171 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,363,920 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $667,858,051 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,333,016 |
| Net Land, buildings, and equipment | $19,670,624 |
| Investments—publicly traded securities | $356,805,707 |
| Investments—other securities | $0 |
| Investments—program-related | $28,847,410 |
| Intangible assets | $0 |
| Other assets | $45,338,406 |
| Total assets | $1,208,523,580 |
| Accounts payable and accrued expenses | $12,666,866 |
| 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 | $54,010,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,069,550,739 |
| Total liabilities | $1,136,227,605 |
| 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 | $72,295,975 |
| Total liabilities and net assets/fund balances | $1,208,523,580 |