Greater Kentucky Credit Union Inc
- Assets
- $88.9m
- Revenue
- $5.3m
- Investments
- $0.0
- Employees
- 34
- Location
- Lexington, KY
- Founding
- 05/1959
- Data as of
- 12/2021
- EIN
- 61-6026508
Organization Overview
Greater Kentucky Credit Union Inc is located in Lexington, KY. The organization was established in 1959. 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, Greater Kentucky Credit Union Inc employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Kentucky Credit Union Inc 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, Greater Kentucky Credit Union Inc generated $5.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $4.7m 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
WE ARE A TAX EXEMPT CREDIT UNION PROVIDING SHARE AND LOAN SERVICES TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE ARE A CO-OP FINANCIAL INSTITUTION THAT PROMOTES THRIFT AND GOOD USE OF CREDIT. WE PAID $637,944 IN DIVIDENDS AND COLLECTED $4,686,796 IN INTEREST INCOME, INVESTMENT INCOME AND FEES
CREDIT UNION HAS BRANCHES THAT ARE NECESSARY TO OPERATE AND CONDUCT BUSINESS.
PROVISION FOR LOAN AND LEASE LOSS
ALL OTHER OPERATING EXPENSES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Debbie Pyle Exec Director/ceo | Officer | 40 | $249,955 |
Julie Logan Vice President | Officer | 40 | $86,658 |
Daniel Stadnyk Executive Vice President | Officer | 40 | $81,750 |
Linda Baughman Vice President Of Lending | Officer | 40 | $72,964 |
Ken Hadley Chairman | Trustee | 2 | $0 |
Bill Spears Board Member | Trustee | 2 | $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 | $4,159,535 |
| Investment income | $527,262 |
| 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 | $5,288,547 |
| 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. | $491,327 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $743,930 |
| Pension plan accruals and contributions | $145,248 |
| Other employee benefits | $157,654 |
| Payroll taxes | $97,387 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,110 |
| Fees for services: Accounting | $16,637 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,418,870 |
| Advertising and promotion | $31,687 |
| Office expenses | $88,368 |
| Information technology | $8,085 |
| Royalties | $0 |
| Occupancy | $166,936 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,456 |
| Interest | $711,627 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $84,487 |
| Insurance | $35,634 |
| All other expenses | $125,054 |
| Total functional expenses | $4,676,625 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $687,356 |
| Savings and temporary cash investments | $11,825,695 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $260,675 |
| Loans from Officers, Directors, or Controlling Persons | $315,667 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $71,620,674 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $783,799 |
| Net Land, buildings, and equipment | $852,966 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,595,172 |
| Total assets | $88,942,004 |
| Accounts payable and accrued expenses | $4,519,528 |
| 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 | $75,269,301 |
| Total liabilities | $79,788,829 |
| 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 | $4,047,985 |
| Retained earnings, endowment, accumulated income, or other funds | $5,105,190 |
| Total liabilities and net assets/fund balances | $88,942,004 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Illinois Community Credit Union Champaign, IL | $475,743,912 | $22,792,231 |
Memphis City Employees Credit Union Memphis, TN | $441,662,639 | $21,190,840 |
Land Of Lincoln Credit Union Decatur, IL | $357,439,691 | $20,389,555 |
Siu Credit Union Carbondale, IL | $404,439,735 | $19,509,001 |
Oucu Financial Credit Union Inc Athens, OH | $474,537,170 | $21,539,633 |
Healthcare Associates Credit Union Naperville, IL | $470,519,753 | $19,024,406 |
Cornerstone Financial Credit Union Nashville, TN | $522,943,459 | $21,028,853 |
Financial Plus Credit Union Ottawa, IL | $450,128,379 | $18,435,940 |
0197 Universal 1 Credit Union Inc Dayton, OH | $475,826,892 | $18,974,323 |
River Valley Credit Union Inc Miamisburg, OH | $417,823,521 | $18,188,326 |
Streator Onized Credit Union Streator, IL | $322,868,914 | $20,466,912 |
Arsenal Credit Union Arnold, MO | $349,876,786 | $18,878,245 |