Telco Community Credit Union is located in Candler, NC. The organization was established in 1969. 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 12/2021, Telco Community Credit Union employed 100 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Telco Community 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 12/2021, Telco Community Credit Union generated $13.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $10.5m during the year ending 12/2021. While expenses have increased by 4.1% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FINANCIAL SERVICES TO 32,314 MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FINANCIAL SERVICES TO 32,314 MEMBERS
PROVIDE FINANCIAL SERVICES TO 32,314 MEMBERS
Name (title) | Role | Hours | Compensation |
---|---|---|---|
David Burnette President Ce | 45 | $197,827 | |
Brandy Ponder Mortgages | $132,499 | ||
David Smith Mortgages | $119,724 | ||
Sharon Carter Sup Comm Cha | $0 | ||
Wa Byrd Vice Chair | Trustee | $0 | |
Harry Hankla Board Direct | Trustee | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Davie Construction General Contrac | 12/30/21 | $2,575,998 |
Jack Henry Associates Data Processing | 12/30/21 | $493,870 |
Visa Inc Signature Based | 12/30/21 | $342,817 |
Thales Card Manufactur | 12/30/21 | $364,986 |
Entrust Instant Issurer | 12/30/21 | $148,067 |
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 | $13,290,126 |
Investment income | $410,465 |
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 | $13,700,591 |
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 | $0 |
Other salaries and wages | $4,081,039 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
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 | $110,301 |
Advertising and promotion | $200,359 |
Office expenses | $3,648,820 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $670,803 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $26,393 |
Interest | $906,975 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | -$50,023 |
Total functional expenses | $10,459,084 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $3,686,109 |
Savings and temporary cash investments | $122,564,877 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $30,000 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $157,086,253 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $684,042 |
Net Land, buildings, and equipment | $7,233,060 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $31,469,688 |
Intangible assets | $0 |
Other assets | $14,819,616 |
Total assets | $337,573,645 |
Accounts payable and accrued expenses | $1,009,733 |
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 | $307,439,361 |
Total liabilities | $308,449,094 |
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 | $29,124,551 |
Total liabilities and net assets/fund balances | $337,573,645 |
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