Austin City Employees Credit Union
- Assets
- $11.1m
- Revenue
- $538.7k
- Investments
- $0.0
- Employees
- 4
- Location
- Austin, MN
- Founding
- 09/1944
- Data as of
- 12/2023
- EIN
- 41-0804553
Organization Overview
Austin City Employees Credit Union is located in Austin, 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. As of 12/2023, Austin City Employees Credit Union employed 4 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Austin City 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, Austin City Employees Credit Union generated $538.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $380.2k during the year ending 12/2023. While expenses have increased by 3.6% per year over the past 7 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
ACECU PROVIDES FINANCIAL SERVICES TO OUR MEMBERS THROUGH SAVINGS PRODUCTS, BY PROVIDING LOANS, AND WITH OTHER FINANCIAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION HAS VARIOUS TYPES OF DEPOSIT ACCOUNTS AVAILABLE FOR OUR MEMBERS. WE OPENED 108 NEW DEPOSIT ACCOUNTS IN 2023. AS OF 12/31/23 WE HAD 798 MEMBERS.
THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 123 NEW LOANS TO OUR MEMBERS DURING 2023. AS OF 12/31/2023 WE HAD 545 LOANS TO OUR MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marilyn Hansen President | Officer | 40 | $61,896 |
Ann Christianson Treasurer | OfficerTrustee | 8 | $15,037 |
Kelly Lady Secretary | OfficerTrustee | 0.5 | $440 |
Melissa Swenson Chair | OfficerTrustee | 0.5 | $240 |
Jean Clark Vice Chair | OfficerTrustee | 0.5 | $200 |
Tricia Weichman Director | Trustee | 0.5 | $180 |
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 | $409,294 |
| Investment income | $128,319 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,084 |
| 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 | $538,697 |
| 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. | $77,993 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $57,265 |
| Pension plan accruals and contributions | $11,794 |
| Other employee benefits | $4,231 |
| Payroll taxes | $10,459 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $90 |
| Fees for services: Accounting | $7,792 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,729 |
| Advertising and promotion | $442 |
| Office expenses | $103,690 |
| Information technology | $27,256 |
| Royalties | $0 |
| Occupancy | $18,598 |
| Travel | $973 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,055 |
| Insurance | $11,606 |
| All other expenses | $0 |
| Total functional expenses | $380,209 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,000 |
| Savings and temporary cash investments | $2,952,677 |
| 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 | $6,479,105 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,228 |
| Net Land, buildings, and equipment | $183,393 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,305,000 |
| Intangible assets | $0 |
| Other assets | $136,321 |
| Total assets | $11,081,724 |
| Accounts payable and accrued expenses | $75,354 |
| 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 | $9,294,764 |
| Total liabilities | $9,370,118 |
| 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 | $1,711,606 |
| Total liabilities and net assets/fund balances | $11,081,724 |