United Savings Credit Union
- Assets
- $93.3m
- Revenue
- $5.3m
- Investments
- $0.0
- Employees
- 25
- Location
- Fargo, ND
- Founding
- Data as of
- 12/2023
- EIN
- 45-0226667
Organization Overview
United Savings Credit Union is located in Fargo, ND. As of 12/2023, United Savings Credit Union employed 25 individuals. United Savings 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 Savings Credit Union generated $5.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $4.7m during the year ending 12/2023. While expenses have increased by 9.1% 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
BUILDING YOUR FINANCIAL FREEDOM THROUGH TRUSTED RELATIONSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NON-PROFIT ORGANIZATION PROVIDING FINANCIAL SERVICES TO A FIELD OF MEMBERSHIP
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Burnman Director | Trustee | 1 | $0 |
David Dahl Vice Chairman | OfficerTrustee | 2 | $0 |
Jeff Schmidt Secretary/treasurer | OfficerTrustee | 1 | $0 |
Rick Majerus Director | Trustee | 1 | $0 |
Keith Hansen Chairman | OfficerTrustee | 4 | $0 |
Doreen Klomstad Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bradford Scott Data Corporation Technology | 12/30/23 | $152,443 |
Silicon Plains Technology | 12/30/23 | $125,284 |
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 | $4,557,822 |
| Investment income | $721,588 |
| 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 | $5,279,410 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $182,962 |
| Other salaries and wages | $1,573,174 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $419,344 |
| Payroll taxes | $123,556 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $28,505 |
| Advertising and promotion | $0 |
| Office expenses | $594,831 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $387,409 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $53,316 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $22,800 |
| Total functional expenses | $4,679,552 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $631,244 |
| Savings and temporary cash investments | $17,483,851 |
| 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 | $71,404,856 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $32,217 |
| Net Land, buildings, and equipment | $2,906,761 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $792,928 |
| Total assets | $93,251,857 |
| Accounts payable and accrued expenses | $412,595 |
| 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 | $2,510,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $78,710,053 |
| Total liabilities | $81,632,648 |
| 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 | $11,619,209 |
| Total liabilities and net assets/fund balances | $93,251,857 |