Unite Credit Union
- Assets
- $25.0m
- Revenue
- $598.0k
- Investments
- $0.0
- Employees
- 17
- Location
- Cedar Falls, IA
- Founding
- Data as of
- 12/2021
- EIN
- 42-6055094
Organization Overview
Unite Credit Union, operating under the name 0473 UNI Credit Union, is located in Cedar Falls, IA. As of 12/2021, 0473 UNI Credit Union employed 17 individuals. 0473 UNI 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 12/2021, 0473 UNI Credit Union generated $598.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.4%) each year. All expenses for the organization totaled $853.7k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LENDING, SAVINGS AND OTHER FINANCIAL SERVICES TO ITS QUALIFYING MEMBERS AT TERMS GENERALLY BETTER THAN AVAILABLE IN THE MARKET PLACE AND WITH A "SERVICE BASED EMPHASIS" THAT RECOGNIZES THE MEMBERS' STATUS AS "OWNER."
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREDIT UNIONS CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST, ENCOURAGE HABITS OF THRIFT AMOUNG THEIR MEMBERS, AND PROVIDE AN OPPORTUNITY FOR THEIR MEMBERS TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ENONOMIC AND SOCIAL CONDITION. IN 2021 UNITE CREDIT UNION SERVED 1810 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karris Golden Ceo/manager (left 6/21) | Officer | 40 | $51,084 |
Melissa Beall Board Chairman | OfficerTrustee | 5 | $0 |
Gayle Pohl Vice Chairman | OfficerTrustee | 5 | $0 |
Brett Olsen Treasurer | OfficerTrustee | 0.1 | $0 |
Chris Dieckman Secretary | OfficerTrustee | 1 | $0 |
Eboni Springfield Audit Committee | Trustee | 0.2 | $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 | $368,619 |
| Investment income | $124,635 |
| 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 | $598,032 |
| 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. | $57,261 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $178,815 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,494 |
| Payroll taxes | $67 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,450 |
| Fees for services: Accounting | $213,128 |
| Fees for services: Lobbying | $13,589 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $111,816 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,270 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,392 |
| Interest | $66,120 |
| Payments to affiliates | $4,894 |
| Depreciation, depletion, and amortization | $4,614 |
| Insurance | $0 |
| All other expenses | $59,147 |
| Total functional expenses | $853,702 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $252,306 |
| Savings and temporary cash investments | $17,574,924 |
| 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 | $6,731,185 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $27,981 |
| Net Land, buildings, and equipment | $132,162 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $305,852 |
| Total assets | $25,024,410 |
| Accounts payable and accrued expenses | $29,583 |
| 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 | $21,924,337 |
| Total liabilities | $21,953,920 |
| 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 | $3,070,490 |
| Total liabilities and net assets/fund balances | $25,024,410 |
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