Service One Credit Union Inc is located in Bowling Green, 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, Service One Credit Union Inc employed 67 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Service One 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, Service One Credit Union Inc generated $10.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $9.3m during the year ending 12/2021. While expenses have increased by 6.1% 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
THE MISSION OF SERVICE ONE CREDIT UNION IS TO HELP MEMBERS REALIZE THIER FINANCIAL DREAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SERVICE ONE CREDIT UNION PROVIDES SAVINGS AND LENDING SERVICES AND PRODUCTS TO ITS FIELD OF MEMBERSHIP.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Rebecca Stone President And CEO | Officer | 40 | $165,375 |
Mark Floyd VP Chief Lending Officer | Officer | 40 | $101,315 |
Justin Morris Evp Chief Financial Office | Officer | 40 | $96,360 |
Michelle Dyer Svp/chief Operating Officer | Officer | 40 | $89,904 |
Anthony Sean Moore VP Informational & Digital Systems | Officer | 40 | $85,963 |
Brad Brown VP Enterprise Risk Mgmt | Officer | 40 | $70,979 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Pscu Financial Services Debit Card And Credit Card | 12/30/21 | $664,930 |
Fiserv Technology | 12/30/21 | $553,203 |
Alkami Digital Banking Cloud | 12/30/21 | $210,347 |
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 | $6,699,095 |
Investment income | $362,989 |
Tax Exempt Bond Proceeds | $1,985 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $4,805 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $10,108,850 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $105,000 |
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. | $835,492 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $2,010,979 |
Pension plan accruals and contributions | $335,093 |
Other employee benefits | $394,542 |
Payroll taxes | $250,759 |
Fees for services: Management | $0 |
Fees for services: Legal | $71,332 |
Fees for services: Accounting | $33,417 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $170,797 |
Advertising and promotion | $383,954 |
Office expenses | $194,455 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $365,114 |
Travel | $141,685 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $756,556 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $240,218 |
Insurance | $65,908 |
All other expenses | $161,253 |
Total functional expenses | $9,278,667 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $415,549 |
Savings and temporary cash investments | $33,282,996 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $462,539 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $147,550,551 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $454,971 |
Net Land, buildings, and equipment | $3,649,708 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $18,799,851 |
Intangible assets | $0 |
Other assets | $11,694,296 |
Total assets | $216,310,461 |
Accounts payable and accrued expenses | $1,474,273 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $309,747 |
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 | $193,228,594 |
Total liabilities | $195,012,614 |
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 | $2,152,518 |
Retained earnings, endowment, accumulated income, or other funds | $19,145,329 |
Total liabilities and net assets/fund balances | $216,310,461 |
Organization Name | Assets | Revenue |
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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 |