Unity One Credit Union
- Assets
- $285.9m
- Revenue
- $16.8m
- Investments
- $15.1m
- Employees
- 102
- Location
- Fort Worth, TX
- Founding
- 06/1976
- Data as of
- 12/2023
- EIN
- 41-0447515
Organization Overview
Unity One Credit Union is located in Fort Worth, TX. The organization was established in 1976. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2023, Unity One Credit Union employed 102 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Unity One 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, Unity One Credit Union generated $16.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $14.2m during the year ending 12/2023. While expenses have increased by 3.1% per year over the past 9 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
PROVIDES A VARIETY OF FINANCIAL SERVICES TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOANS: PROVIDING CONSUMER LOANS OF ALL TYPES, INCLUDING VEHICLE LOANS, UNSECURED LOANS, AND CREDIT CARDS. ALSO OFFERING RESIDENTIAL MORTGAGES AND SMALL BUSINESS LOANS.
SHARE SAVINGS ACCOUNTS: PROVIDING SHARE SAVINGS ACCOUNTS TO MEMBERS, OFFERING SPECIAL SHARE SAVINGS ACCOUNTS TO MINORS.
CHECKING ACCOUNTS: PROVIDING CHECKING ACCOUNTS WITH VARYING FEATURES. OFFERING BENEFITS SUCH AS ATM ACCESS, DEBIT CARDS AS WELL AS ON-LINE BENEFITS SUCH AS BILL PAYING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vincent Accardo Chairman Of The Board | OfficerTrustee | 3 | $0 |
Richard Ebel Vice Chair | OfficerTrustee | 3 | $0 |
Patrick Forsyth Secretary/treasurer | OfficerTrustee | 3 | $0 |
Gregory Patient Director | Trustee | 3 | $0 |
Mary Diggs Director | Trustee | 3 | $0 |
Dale Maristuen Director | Trustee | 3 | $0 |
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 | $14,776,882 |
| Investment income | $1,919,289 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $50,351 |
| 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 | $16,759,480 |
| 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. | $634,639 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $3,624,109 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $153,068 |
| Other employee benefits | $589,271 |
| Payroll taxes | $293,914 |
| Fees for services: Management | $198,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,445,901 |
| Advertising and promotion | $420,003 |
| Office expenses | $879,894 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $547,137 |
| Travel | $150,204 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $911 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $284,237 |
| Insurance | $106,429 |
| All other expenses | $43,948 |
| Total functional expenses | $14,164,401 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,107,180 |
| Savings and temporary cash investments | $0 |
| 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 | $195,133,230 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $5,673,460 |
| Investments—publicly traded securities | $61,368,258 |
| Investments—other securities | $15,091,843 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,505,195 |
| Total assets | $285,879,166 |
| Accounts payable and accrued expenses | $798,152 |
| 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 | $275,232,568 |
| Total liabilities | $276,030,720 |
| 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 | $9,848,446 |
| Total liabilities and net assets/fund balances | $285,879,166 |