United Labor Credit Union
- Assets
- $18.7m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 7
- Location
- Raytown, MO
- Founding
- Data as of
- 12/2023
- EIN
- 43-1443788
Organization Overview
United Labor Credit Union is located in Raytown, MO. As of 12/2023, United Labor Credit Union employed 7 individuals. United Labor 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, United Labor Credit Union generated $1.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $1.1m during the year ending 12/2023. While expenses have increased by 1.9% 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 IMPROVE THE FINANCIAL LIVES OF UNION MEMBERS AND THEIR FAMILIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 4,353 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, THERE WERE 1,629 LOANS OUTSTANDING TOTALING $12,089,651, INCLUDING PARTICIPATION LOANS.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $72,411 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Bynum Chairman | Trustee | 1 | $0 |
Allen Jay Lind Vice Chairman | Trustee | 1 | $0 |
Jason Mendenhall Secretary/treasurer | Trustee | 1 | $0 |
Dennis Bajkowski Board Member | Trustee | 1 | $0 |
Joseph Fuentes Board Member | Trustee | 1 | $0 |
Aaron Brown Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $89,352 |
| 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 | $89,352 |
| Total Program Service Revenue | $956,235 |
| Investment income | $184,770 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $4,333 |
| 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 | $1,234,690 |
| 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. | $144,230 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $226,395 |
| Pension plan accruals and contributions | $22,938 |
| Other employee benefits | $53,925 |
| Payroll taxes | $26,355 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,802 |
| Fees for services: Accounting | $20,490 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $21,964 |
| Advertising and promotion | $20,659 |
| Office expenses | $196,855 |
| Information technology | $20,014 |
| Royalties | $0 |
| Occupancy | $30,324 |
| Travel | $1,051 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,607 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,930 |
| Insurance | $20,161 |
| All other expenses | $13,009 |
| Total functional expenses | $1,075,805 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $201,376 |
| Savings and temporary cash investments | $5,732,012 |
| 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 | $11,985,345 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $30,847 |
| Net Land, buildings, and equipment | $513,603 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $217,244 |
| Total assets | $18,680,427 |
| Accounts payable and accrued expenses | $37,153 |
| 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 | $17,343,784 |
| Total liabilities | $17,380,937 |
| 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 | $1,299,490 |
| Total liabilities and net assets/fund balances | $18,680,427 |