Highway Crossroads Credit Union Union
- Assets
- $24.3m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 5
- Location
- Sikeston, MO
- Founding
- Data as of
- 12/2023
- EIN
- 43-6032519
Organization Overview
Highway Crossroads Credit Union Union is located in Sikeston, MO. As of 12/2023, Highway Crossroads Credit Union Union employed 5 individuals. Highway Crossroads Credit Union 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, Highway Crossroads Credit Union Union generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 20.4% each year . All expenses for the organization totaled $1.3m during the year ending 12/2023. While expenses have increased by 20.4% per year over the past 8 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 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 2,304 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, THERE WERE 1,328 LOANS OUTSTANDING TOTALING $19,335,179.
PAID DIVIDENDS AND INTEREST ON DEPOSITS TOTALING $377,534 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffery Wachter Chairman | Trustee | 0.5 | $0 |
David Wyman Vice Chairman | Trustee | 0.5 | $0 |
Michael Brandon Secretary/treasurer | Trustee | 0.5 | $0 |
Spencer S Perry Director | Trustee | 0.5 | $0 |
Jessie Benji Philpot Director | Trustee | 0.5 | $0 |
Brooks Pratt Director | 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 | $1,406,678 |
| Investment income | $46,788 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $199 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,453,665 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $26,504 |
| 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. | $104,281 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $187,073 |
| Pension plan accruals and contributions | $4,916 |
| Other employee benefits | $13,897 |
| Payroll taxes | $22,539 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,432 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $27,462 |
| Advertising and promotion | $70,129 |
| Office expenses | $175,034 |
| Information technology | $69,890 |
| Royalties | $0 |
| Occupancy | $13,626 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,989 |
| Interest | $8,309 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $45,077 |
| Insurance | $14,204 |
| All other expenses | $10,385 |
| Total functional expenses | $1,319,036 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $96,688 |
| Savings and temporary cash investments | $3,451,544 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $48,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $19,205,510 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $67,625 |
| Net Land, buildings, and equipment | $835,400 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $603,462 |
| Total assets | $24,308,229 |
| Accounts payable and accrued expenses | $270,588 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $6,201 |
| 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 | $20,570,161 |
| Total liabilities | $20,846,950 |
| 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 | $3,461,279 |
| Total liabilities and net assets/fund balances | $24,308,229 |