Mawc Credit Union
- Assets
- $2.4m
- Revenue
- $85.4k
- Investments
- $0.0
- Employees
- 4
- Location
- St Louis, MO
- Founding
- Data as of
- 12/2019
- EIN
- 43-0720336
Organization Overview
Mawc Credit Union is located in St Louis, MO. As of 12/2019, Mawc Credit Union employed 4 individuals. Mawc 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 12/2019, Mawc Credit Union generated $85.4k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $75.3k during the year ending 12/2019. While expenses have increased by 0.0% per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
OWNED, CONTROLLED, & OPERATED FOR THE BENEFIT OF OUR MEMBERS, MAWC CREDIT UNION IS A NOT-FOR-PROFIT COOPERATIVE, COMMITTED TO PROVIDING FAST, FRIENDLY, RELIABLE SERVICE. WE OFFER COMPETITIVE LENDING RATES AND EXCELLENT DIVIDENDS. WE SEEK TO DELIVER A RANGE OF LOW COST PRODUCTS THAT WILL SUSTAIN GROWTH AND SERVE THE BEST INTEREST OF OUR MEMBERS WHILE MAINTAINING FINANCIAL STABILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 526 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2019, THERE WERE 107 LOANS OUTSTANDING TOTALING $1,402,442.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $4,566 FOR THE YEAR.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gina Usselton Manager (current) | Officer | 20 | $14,820 |
Jean Scott Secretary/manager (thru April 2019) | OfficerTrustee | 20 | $6,945 |
Maureen Hannekan President | Trustee | 1 | $0 |
Dawn Spink Vice President | Trustee | 1 | $0 |
Lance Thompson Secretary | Trustee | 1 | $0 |
Eddie E Bolden Board Member | Trustee | 1 | $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 | $63,926 |
| Investment income | $21,458 |
| 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 | $85,384 |
| 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. | $21,765 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,163 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,057 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,653 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,276 |
| Advertising and promotion | -$100 |
| Office expenses | $9,711 |
| Information technology | $643 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $293 |
| Insurance | $4,609 |
| All other expenses | $97 |
| Total functional expenses | $75,277 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $981,947 |
| 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 | $1,397,442 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,675 |
| Net Land, buildings, and equipment | $904 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $26,282 |
| Total assets | $2,410,250 |
| Accounts payable and accrued expenses | $3,444 |
| 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 | $2,073,339 |
| Total liabilities | $2,076,783 |
| 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 | $333,467 |
| Total liabilities and net assets/fund balances | $2,410,250 |
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