Health Care Family Credit Union
- Assets
- $77.0m
- Revenue
- $3.6m
- Investments
- $13.2m
- Employees
- 23
- Location
- St Louis, MO
- Founding
- Data as of
- 12/2021
- EIN
- 43-0959076
Organization Overview
Health Care Family Credit Union is located in St Louis, MO. As of 12/2021, Health Care Family Credit Union employed 23 individuals. Health Care Family 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, Health Care Family Credit Union generated $3.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $3.1m during the year ending 12/2021. While expenses have increased by 2.0% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HIGH QUALITY FINANCIAL SERVICES FOR OUR MEMBERS/OWNERS, ENHANCING THEIR FINANCIAL WELL-BEING WHILE MAINTAINING THE FINANCIAL STRENGTH OF THE CREDIT UNION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 5,667 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2021, LOANS OUTSTANDING TOTALED $48,813,803.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $296,816 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terry Summers President | Officer | 40 | $299,440 |
Patricia Reis Vice President-Lending | Officer | 40 | $108,639 |
Jarrod Deatherage Vice President-Finance | Officer | 40 | $83,095 |
Samuel Davis Vice President-Operations | Officer | 40 | $76,245 |
Karen Kenney Chairperson | Trustee | 2 | $0 |
Debra Wierciak Vice Chairperson | Trustee | 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 | $3,355,705 |
| Investment income | $208,497 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $12,545 |
| 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 | $3,576,747 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,327 |
| Compensation of current officers, directors, key employees. | $524,547 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $528,375 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $131,508 |
| Payroll taxes | $62,317 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,927 |
| Fees for services: Accounting | $19,846 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,069 |
| Fees for services: Other | $11,886 |
| Advertising and promotion | $59,860 |
| Office expenses | $620,018 |
| Information technology | $149,760 |
| Royalties | $0 |
| Occupancy | $106,686 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,003 |
| Interest | $105,380 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $119,976 |
| Insurance | $26,556 |
| All other expenses | $202 |
| Total functional expenses | $3,072,737 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $992,479 |
| Savings and temporary cash investments | $8,930,820 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $787,641 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $48,667,983 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $71,978 |
| Net Land, buildings, and equipment | $1,345,274 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $13,194,571 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,039,095 |
| Total assets | $77,029,841 |
| Accounts payable and accrued expenses | $697,732 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $106,909 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,050,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $62,530,762 |
| Total liabilities | $67,385,403 |
| 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 | $9,644,438 |
| Total liabilities and net assets/fund balances | $77,029,841 |
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