Whitesville Community Credit Union
- Assets
- $34.6m
- Revenue
- $695.8k
- Investments
- $11.3m
- Employees
- 6
- Location
- Whitesville, KY
- Founding
- 02/1963
- Data as of
- 12/2021
- EIN
- 61-0648221
Organization Overview
Whitesville Community Credit Union is located in Whitesville, KY. The organization was established in 1963. 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, Whitesville Community Credit Union employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Whitesville 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, Whitesville Community Credit Union generated $695.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $666.7k during the year ending 12/2021. While expenses have increased by 4.5% 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
TO PROVIDE LOW COST LOANS TO MEMBERS AND TO PROVIDE SAVINGS AND CHECKING ACCOUNTS WITH A FAIR RATE OF RETURN AND LOW FEES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION PROVIDES SEVERAL DEPOSIT ACCOUNT TYPES TO MEMBERS INCLUDING SAVINGS, CHECKING, CERTIFICATES AND OTHER. THE TOTAL NUMBER OF MEMBERS AT 12/31/2021 WAS 2,078.
THE CREDIT UNION PROVIDES A VARIETY OF LOANS TO MEMBERS INCLUDING REAL ESTATE, VEHICLE AND OTHER. THE TOTAL NUMBER OF LOANS OUTSTANDING AT 12/31/2021 WAS 542.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kim Greer CEO | Officer | 40 | $70,870 |
Randal Murphy Vice Chair | Trustee | 1 | $0 |
Donny Smith Director | Trustee | 1 | $0 |
Donnie Howard Chairperson | Trustee | 1 | $0 |
Darrell Hagan Secretary | Trustee | 1 | $0 |
Joseph A Howard Treasurer | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $443,514 |
| Investment income | $252,265 |
| 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 | $695,779 |
| 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. | $79,362 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $183,769 |
| Pension plan accruals and contributions | $3,792 |
| Other employee benefits | $44,424 |
| Payroll taxes | $19,275 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,559 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,119 |
| Advertising and promotion | $6,441 |
| Office expenses | $20,793 |
| Information technology | $15,113 |
| Royalties | $0 |
| Occupancy | $76,233 |
| Travel | $21,546 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $19,670 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,005 |
| Insurance | $15,180 |
| All other expenses | -$17,317 |
| Total functional expenses | $666,737 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $244,736 |
| Savings and temporary cash investments | $14,957,749 |
| 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 | $7,632,261 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $19,735 |
| Net Land, buildings, and equipment | $120,632 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $11,292,004 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $311,945 |
| Total assets | $34,579,062 |
| Accounts payable and accrued expenses | $82,533 |
| 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 | $31,553,180 |
| Total liabilities | $31,635,713 |
| 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 | $2,943,349 |
| Total liabilities and net assets/fund balances | $34,579,062 |
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