Premier Credit Union
- Assets
- $287.1m
- Revenue
- $12.6m
- Investments
- $0.0
- Employees
- 52
- Location
- Des Moines, IA
- Founding
- Data as of
- 12/2022
- EIN
- 42-0127275
Organization Overview
Premier Credit Union is located in Des Moines, IA. As of 12/2022, Premier Credit Union employed 52 individuals. Premier 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, Premier Credit Union generated $12.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $10.1m during the year ending 12/2022. While expenses have increased by 7.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
STATE CHARTERED CREDIT UNION
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Megan Tjernagel CEO | Officer | 45 | $96,154 |
Mark Piper Mortgage Loa | 45 | $0 | |
Sheila Strand Mortgage Loa | 45 | $0 | |
Steve Flamm CEO | $185,028 | ||
Jill Greene Mathew Exec VP | Officer | 45 | $159,651 |
Sam Rizzuti CFO | Officer | 45 | $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 | $12,393,726 |
| Investment income | $194,721 |
| 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 | $12,588,447 |
| 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. | $266,023 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $192,117 |
| Other salaries and wages | $2,470,812 |
| Pension plan accruals and contributions | $92,457 |
| Other employee benefits | $358,127 |
| Payroll taxes | $225,114 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,151 |
| Fees for services: Accounting | $29,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $182,439 |
| Office expenses | $397,067 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $378,147 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $29,921 |
| Interest | $134,189 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $178,365 |
| Insurance | $58,764 |
| All other expenses | $1,119,043 |
| Total functional expenses | $10,104,713 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $793,916 |
| Savings and temporary cash investments | $11,566,959 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,862,915 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $256,916,914 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $208,423 |
| Net Land, buildings, and equipment | $7,718,570 |
| Investments—publicly traded securities | $4,228,600 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,767,242 |
| Total assets | $287,063,539 |
| Accounts payable and accrued expenses | $2,684,887 |
| 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 | $500,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $259,467,208 |
| Total liabilities | $262,652,095 |
| 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 | $7,287,002 |
| Retained earnings, endowment, accumulated income, or other funds | $17,124,442 |
| Total liabilities and net assets/fund balances | $287,063,539 |