Capitol View Credit Union
- Assets
- $43.6m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 7
- Location
- Des Moines, IA
- Founding
- Data as of
- 12/2023
- EIN
- 42-0742483
Organization Overview
Capitol View Credit Union is located in Des Moines, IA. As of 12/2023, Capitol View Credit Union employed 7 individuals. Capitol View 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, Capitol View Credit Union generated $2.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $1.8m during the year ending 12/2023. While expenses have increased by 4.2% 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
CAPITOL VIEW CREDIT UNION PROVIDES FINANCIAL SERVICES TO IT'S MEMBERS AT FAIR AND REASONABLE RATES AND TERMS WITH A SMALL TOWN TOUCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR MEMBERSHIP IS LIMITED TO PRIMARILY STATE OF IOWA EMPLOYEES AND THEIR FAMILY MEMBERS. AS OF 12-31-2023 WE HAD 1,897 MEMBERS. WE OFFER AUTO LOANS, HOME EQUITY LOANS, MORTGAGE LOANS, PERSONAL LOANS, PRIVATE STUDENT LOANS AND CREDIT CARD LOANS. OUR LOAN RATES ARE USUALLY LOWER THAN MOST COMPETITORS. WE OFFER ACCESS TO OUR MEMBERS ACCOUNTS THROUGH OUR OFFICE, OR THE INTERNET, ATM MACHINES, DEBIT OR CREDIT CARDS, OR THE SHARED BRANCHING NETWORK WE BELONG TO THAT ALLOWS OUR MEMBERS TO VISIT OVER 5000 SHARED BRANCHES NATIONWIDE. SHARED BRANCHES ARE OTHER CREDIT UNIONS THAT CHARGE US A FEE IF OUR MEMBER COMES IN AND DOES A TRANSACTION ON THEIR ACCOUNT WITH US. IN ADDITION TO THE COST OF SUPPLYING THESE ACCESS POINTS WE ALSO PAY FOR THE SECURITY SERVICES FOR THEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carl Martin Chairman | OfficerTrustee | 0.5 | $0 |
Matthew Mccormick CFO Of Board | OfficerTrustee | 0.5 | $0 |
Travis Reed Board Member | OfficerTrustee | 0.5 | $0 |
Randal Anderson Board Member | OfficerTrustee | 0.5 | $0 |
Matthew Scheetz Board Member | Trustee | 0.5 | $0 |
Alison Radl Board Member | Trustee | 0.5 | $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 | $1,250,135 |
| Investment income | $855,100 |
| 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 | $2,472,033 |
| 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. | $129,348 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $345,812 |
| Pension plan accruals and contributions | $8,863 |
| Other employee benefits | $86,111 |
| Payroll taxes | $35,656 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,161 |
| Fees for services: Accounting | $14,006 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $92,923 |
| Advertising and promotion | $56,376 |
| Office expenses | $262,660 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,868 |
| Travel | $13,235 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $427,627 |
| Payments to affiliates | $4,567 |
| Depreciation, depletion, and amortization | $77,635 |
| Insurance | $24,573 |
| All other expenses | $28,688 |
| Total functional expenses | $1,804,224 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $411,114 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,116 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $24,202,167 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $31,192 |
| Net Land, buildings, and equipment | $1,040,704 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $16,779,920 |
| Intangible assets | $0 |
| Other assets | $1,083,908 |
| Total assets | $43,563,121 |
| Accounts payable and accrued expenses | $266,952 |
| 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 | $36,075,552 |
| Total liabilities | $36,342,504 |
| 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 | $1,245,774 |
| Retained earnings, endowment, accumulated income, or other funds | $5,974,843 |
| Total liabilities and net assets/fund balances | $43,563,121 |