Lowland Credit Union

Organization Overview

Lowland Credit Union is located in Morristown, 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 12/2023, Lowland Credit Union employed 42 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Lowland 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 12/2023, Lowland Credit Union generated $7.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $7.6m during the year ending 12/2023. While expenses have increased by 8.7% per year over the past 9 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

STATE CHARTERED CREDIT UNION MUTUALLY OWNED BY OUR 10,413 MEMBERS, TO PROMOTE THRIFT, ISSUE SHARES AND MAINTAIN ACCOUNTS, AND MAKE LOANS TO OUR MEMBERS. FUNDS NOT NEEDED FOR LIQUIDITY OR FOR LOANS ARE TEMPORARILY INVESTED.

Describe the Organization's Program Activity:

Part 3 - Line 4a

STATE CHARTERED CREDIT UNION MUTUALLY OWNED BY OUR 10,413 MEMBERS TO PROMOTE THRIFT, ISSUE SHARES AND MAINTAIN ACCOUNTS, AND MAKE LOANS TO OUR MEMBERS. FUNDS NOT NEEDED FOR LIQUIDITY OR FOR LOANS ARE TEMPORARILY INVESTED. ALL OF OUR REVENUES AND EXPENSES ARE RELATED TO THIS PURPOSE.


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Board, Officers & Key Employees

Name (title)Compensation
Mark Creech
Presidentceo
$319,052
William J Mckinney
CFO
$247,088
Heather N Moore
COO
$137,620
Sonya M Antrican
Clo
$131,526
Charles V Fine
It Manager
$73,316
Tommy A Musser
Board Chairman
$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$7,302,104
Investment income $0
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 $7,302,104

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