Cooperative Credit Union
- Assets
- $22.4m
- Revenue
- $969.1k
- Investments
- $0.0
- Employees
- 6
- Location
- Coffeyville, KS
- Founding
- Data as of
- 12/2023
- EIN
- 48-0577273
Organization Overview
Cooperative Credit Union is located in Coffeyville, KS. As of 12/2023, Cooperative Credit Union employed 6 individuals. Cooperative 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, Cooperative Credit Union generated $969.1k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $920.8k during the year ending 12/2023. 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 BE THE FINANCIAL SERVICE LEADER IN OUR COMMUNITY AND MEMBERSHIP AREA
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES FINANCIAL AND FINANCIALLY RELATED SERVICES TO 3,172 MEMBERS.
PROVIDES A SOURCE OF CREDIT TO MEMBERS AT A FAIR AND REASONABLE RATE OF INTEREST. AS OF DECEMBER 31, 2023, LOANS OUTSTANDING TOTALED $12,113,059, INCLUDING LOAN PARTICIPATIONS.
PAID DIVIDENDS ON MEMBER DEPOSITS TOTALING $119,098 FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clyde Kastler Chairperson | Trustee | 1 | $0 |
William Jenkins Vice Chairperson | Trustee | 1 | $0 |
David Shane Simmons Secretary/treasurer | Trustee | 1 | $0 |
Christopher Bookter Board Member | Trustee | 1 | $0 |
Lyssa Bally Board Member | Trustee | 1 | $0 |
Dana Denton Board Member | Trustee | 1 | $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 | $2,027 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,027 |
| Total Program Service Revenue | $760,323 |
| Investment income | $200,751 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $5,992 |
| 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 | $969,093 |
| 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. | $111,734 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $158,750 |
| Pension plan accruals and contributions | $2,429 |
| Other employee benefits | $37,743 |
| Payroll taxes | $20,099 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,202 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $76,230 |
| Advertising and promotion | $15,867 |
| Office expenses | $56,445 |
| Information technology | $84,287 |
| Royalties | $0 |
| Occupancy | $53,485 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,987 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $66,329 |
| Insurance | $21,250 |
| All other expenses | -$20 |
| Total functional expenses | $920,816 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $486,089 |
| Savings and temporary cash investments | $9,225,444 |
| 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 | $12,074,605 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $64,250 |
| Net Land, buildings, and equipment | $261,371 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $261,223 |
| Total assets | $22,372,982 |
| Accounts payable and accrued expenses | -$41,771 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $15,754 |
| 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 | $19,746,309 |
| Total liabilities | $19,720,292 |
| 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 | $2,652,690 |
| Total liabilities and net assets/fund balances | $22,372,982 |