Wcg Employees Credit Union
- Assets
- $1.2m
- Revenue
- $32.4k
- Investments
- $0.0
- Employees
- 1
- Location
- Martin, TN
- Founding
- 06/1952
- Data as of
- 12/2022
- EIN
- 62-0728870
Organization Overview
Wcg Employees Credit Union is located in Martin, 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. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Wcg Employees 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 12/2022, Wcg Employees Credit Union generated $32.4k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $29.2k during the year ending 12/2022. While expenses have increased by 3.2% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO PROVIDE OUR MEMBERS A SOUND FINANCIAL INSTITUTION TO SAVE MONEY AND OBTAIN AFFORDABLE LOANS. CREDIT UNION SERVES 248 MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR MISSION IS TO PROVIDE OUR MEMBERS A SOUND FINANCIAL INSTITUTION TO SAVE MONEY AND OBTAIN AFFORDABLE LOANS. CREDIT UNION SERVES 248 MEMBERS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shelly Bowers Officer | Officer | $0 | |
Brent Little Officer | Officer | $0 | |
Barry High Officer | Officer | $0 | |
Jim Reynolds Officer | Officer | $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 | $28,453 |
| Investment income | $1,675 |
| 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 | $32,412 |
| 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 | $9,900 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $799 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,754 |
| 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 | $4,094 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,660 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $183 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $29,238 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $134,923 |
| Savings and temporary cash investments | $120,316 |
| 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 | $892,708 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,813 |
| Net Land, buildings, and equipment | $197 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,541 |
| Total assets | $1,170,498 |
| Accounts payable and accrued expenses | $4,711 |
| 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 | $970,423 |
| Total liabilities | $975,134 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $38,000 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $157,364 |
| Total liabilities and net assets/fund balances | $1,170,498 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Service One Credit Union Inc Bowling Green, KY | $216,310,461 | $10,108,850 |
New Horizons Credit Union Mobile, AL | $262,523,967 | $10,116,568 |
Bowater Employees Credit Union Calhoun, TN | $238,168,632 | $9,965,826 |
Alabama Credit Union Adminstration Birmingham, AL | $198,120,743 | $9,288,021 |
Heritage South Credit Union Sylacauga, AL | $172,610,156 | $8,672,774 |
Credit Unions In The State Of Alabama Anniston, AL | $237,814,363 | $7,242,048 |
Mygeorgia Credit Union Gainesville, GA | $216,783,084 | $10,094,883 |
Members Exchange Credit Union Jackson, MS | $141,270,871 | $9,198,394 |
Emory Alliance Credit Union Decatur, GA | $209,660,944 | $7,524,276 |
Carolina Small Business Development Fund Raleigh, NC | $38,671,185 | $7,982,393 |
Naheola Credit Union Pennington, AL | $166,557,513 | $8,796,117 |
State Chartered Credit Unions In North Carolina Charlotte, NC | $129,418,151 | $7,509,180 |