Credit Union Of America

Organization Overview

Credit Union Of America is located in Wichita, KS. The organization was established in 1935. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Credit Union Of America employed 383 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Credit Union Of America 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, Credit Union Of America generated $93.6m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $80.8m during the year ending 12/2023. While expenses have increased by 11.0% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDE LENDING, SAVINGS, AND FINANCIAL SERVICES FOR MUTUAL PURPOSE, INCLUDING CONSUMER LOANS, REAL ESTATE LOANS, CREDIT CARDS, SAVINGS AND CERTIFICATE ACCOUNTS, INVESTMENT OPTIONS, AND MULTIPLE METHODS FOR MEMBER ACCESS TO THEIR FINANCIAL SERVICES AND RESOURCES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 95,513 MEMBERS.


PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, LOANS OUTSTANDING TOTALED $1,272,954,614, INCLUDING LOAN PARTICIPATIONS.


PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $19,585,390 FOR THE YEAR.


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Board, Officers & Key Employees

Name (title)Compensation
Richard Gilstrap
Chairman
$0
Dean Lang
Vice Chairman
$0
Stanley Longhofer
Treasurer
$0
Mary Kay Glasner
Secretary
$0
Kevin Kienzie
Director
$0
Mary Singleton
Director
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Kansas Collection Professionals Llc
Collection Agency
$170,776
Gibson Watson Marino Llc
Attorney/legal
$151,493
View All Vendors

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$89,336,491
Investment income $2,979,800
Tax Exempt Bond Proceeds $0
Royalties $133,883
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 $93,587,830

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