Aim Credit Union
- Assets
- $184.9m
- Revenue
- $8.9m
- Investments
- $0.0
- Employees
- 34
- Location
- Dubuque, IA
- Founding
- 00/0000
- Data as of
- 12/2023
- EIN
- 42-0329305
Organization Overview
Aim Credit Union is located in Dubuque, IA. The organization was established in 0000. 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, Aim Credit Union employed 34 individuals. Aim 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, Aim Credit Union generated $8.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $7.9m during the year ending 12/2023. While expenses have increased by 7.0% 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
TO DELIVER EXCEPTIONAL SERVICE AND PERSONALIZED FINANCIAL SOLUTIONS THAT HELP OUR MEMBERS ACHIEVE THEIR GOALS.
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 3,103 NEW DEPOSIT ACCOUNTS IN 2023. AS OF 12/31/23 WE HAD 13,552 MEMBERS.
THE CREDIT UNION HAS SEVERAL TYPES OF LOAN PROGRAMS AVAILABLE FOR OUR MEMBERS. WE FUNDED 2,017 NEW LOANS DURING 2023. AS OF 12/31/23 WE HAD 8,426 OUTSTANDING LOANS RECEIVABLE.
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 |
|---|---|---|---|
Mike Moroney President / | OfficerTrustee | 50 | $244,762 |
Jack Schumacher Chairman | OfficerTrustee | 1 | $0 |
Jeff Eddy Vice Chair | OfficerTrustee | 0.5 | $0 |
Becky Jenkins Secretary | OfficerTrustee | 0.5 | $0 |
Elizabeth Miller Director/aud | Trustee | 0.5 | $0 |
Mark Arthofer Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Shazam Debit Card Proc | 12/30/23 | $374,475 |
Kinsella Concrete Construction | 12/30/23 | $342,200 |
Co-op Financial Services Card Processing | 12/30/23 | $334,876 |
Rsm It Services | 12/30/23 | $288,788 |
Bradford Scott Data Corp Core System | 12/30/23 | $267,662 |
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 | $7,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,500 |
| Total Program Service Revenue | $7,141,375 |
| Investment income | $1,718,752 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $24,860 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,169 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,896,656 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $17,600 |
| Grants and other assistance to domestic individuals. | $7,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $244,762 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,421,376 |
| Pension plan accruals and contributions | $117,987 |
| Other employee benefits | $310,159 |
| Payroll taxes | $138,652 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $33,834 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $603,209 |
| Advertising and promotion | $185,592 |
| Office expenses | $1,510,997 |
| Information technology | $261,780 |
| Royalties | $0 |
| Occupancy | $196,421 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $103,729 |
| Interest | $173 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $293,199 |
| Insurance | $36,144 |
| All other expenses | $0 |
| Total functional expenses | $7,900,016 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,756,140 |
| Savings and temporary cash investments | $21,661,777 |
| 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 | $129,134,911 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $112,767 |
| Net Land, buildings, and equipment | $6,438,360 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $17,865,094 |
| Intangible assets | $652,099 |
| Other assets | $7,237,497 |
| Total assets | $184,858,645 |
| Accounts payable and accrued expenses | $1,045,898 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $622,202 |
| 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 | $160,617,551 |
| Total liabilities | $162,285,651 |
| 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 | $22,572,994 |
| Total liabilities and net assets/fund balances | $184,858,645 |