Collegedale Credit Union
- Assets
- $51.7m
- Revenue
- $1.7m
- Investments
- $10.2m
- Employees
- 25
- Location
- Collegedale, TN
- Founding
- 06/1952
- Data as of
- 12/2021
- EIN
- 62-0577184
Organization Overview
Collegedale Credit Union is located in Collegedale, TN. The organization was established in 1952. 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, Collegedale Credit Union employed 25 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Collegedale 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, Collegedale Credit Union generated $1.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $1.8m during the year ending 12/2021. While expenses have increased by 2.3% 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
CREDIT UNION - TO PROVIDE SERVICES TO APPROXIMATELY 5,105 MEMBERS IN THE FORM OF LOANS, SAVINGS, AND OTHER FINANCIAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION PROVIDED A VARIETY OF LOAN SERVICES FOR ITS MEMBERS.
THE CREDIT UNION PROVIDED A VARIETY OF DEPOSIT SERVICES FOR ITS MEMBERS.
THE CREDIT UNION PROVIDED A VARIETY OF LOAN SERVICES FOR ITS MEMBERS.
THE CREDIT UNION PROVIDED A VARIETY OF DEPOSIT SERVICES FOR ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Errol Eder General Manager | Officer | 45 | $56,942 |
Joy Traxler President/ceo | Officer | 45 | $52,200 |
Kim Abernathy Assistant Manager/hr Manager | Officer | 45 | $44,005 |
David Ruhling Board Chairman | Trustee | 0 | $0 |
Gary Edgemon Board Vice Chairman | Trustee | 0 | $0 |
Paul Smith Board Member | Trustee | 0 | $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 | $1,479,639 |
| Investment income | $176,346 |
| 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 | $1,737,096 |
| 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 | $589,837 |
| Pension plan accruals and contributions | $27,000 |
| Other employee benefits | $90,337 |
| Payroll taxes | $30,951 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $604,330 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $71,183 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $342 |
| Interest | $58,040 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $81,642 |
| Total functional expenses | $1,784,503 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,316,420 |
| Savings and temporary cash investments | $11,846,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $24,658,842 |
| Loans from Officers, Directors, or Controlling Persons | $6,904 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $114,897 |
| Net Land, buildings, and equipment | $733,433 |
| Investments—publicly traded securities | $2,232,615 |
| Investments—other securities | $10,202,372 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $563,934 |
| Total assets | $51,675,417 |
| Accounts payable and accrued expenses | $690,244 |
| 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 | $47,337,331 |
| Total liabilities | $48,027,575 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,686,015 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,961,827 |
| Total liabilities and net assets/fund balances | $51,675,417 |
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| Organization Name | Assets | Revenue |
|---|---|---|
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Memphis City Employees Credit Union Memphis, TN | $441,662,639 | $21,190,840 |
Alabama State Employees Credit Union Montgomery, AL | $434,037,642 | $19,973,256 |
Credit Union Of Georgia Kennesaw, GA | $568,450,220 | $21,135,096 |
State Chartered Credit Unions In North Carolina Winston Salem, NC | $450,735,683 | $18,534,745 |
Alabama Teachers Credit Union Gadsden, AL | $477,477,278 | $19,350,763 |
State Chartered Credit Unions In Canton, NC | $412,728,875 | $18,530,317 |
Cornerstone Financial Credit Union Nashville, TN | $522,943,459 | $21,028,853 |
Credit Unions In The State Of Alabama Gadsden, AL | $384,172,678 | $21,033,823 |
State Chartered Credit Unions In North Carolina Greensboro, NC | $337,571,406 | $18,300,511 |
State Chartered Credit Unions In North Carolina Winston Salem, NC | $454,901,827 | $18,489,124 |
Arsenal Credit Union Arnold, MO | $349,876,786 | $18,878,245 |