Consumer Credit Union
- Assets
- $603.7m
- Revenue
- $20.1m
- Investments
- $0.0
- Employees
- 120
- Location
- Greeneville, TN
- Founding
- 06/1952
- Data as of
- 12/2022
- EIN
- 62-0962107
Organization Overview
Consumer Credit Union is located in Greeneville, TN. The organization was established in 1952. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. As of 12/2022, Consumer Credit Union employed 120 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Consumer 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, Consumer Credit Union generated $20.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $16.3m during the year ending 12/2022. While expenses have increased by 5.5% 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
FINANCIAL SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SERVICES FOR MEMBERS IN THE FORM OF LOANS, SAVINGS AND CHECKING ACCOUNTS, CERTIFICATES OF DEPOSITS, IRAS ECT. ALSO PROVIDE OTHER SERVICES SUCH AS ATM/DEBIT CARDS, CREDIT CARDS, TRAVEL CARDS, GIFT CARDS, MONEY ORDERS, AND LOCK BOXES. ( 36,041 MEMBERS AS OF 12/31/22)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amanda Kilday President | OfficerTrustee | 40 | $389,081 |
Leroy Gray Executive VP | 40 | $361,468 | |
Susan Acuff Svp/cfo | 40 | $183,490 | |
Brian Allen Evp/chief Information Officer/compliance | 40 | $183,482 | |
William A Rambo II Svp/commercial Lending | 40 | $180,240 | |
Daniel Hawk Svp/commercial Lending | 40 | $155,248 |
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 | $13,548,584 |
| Investment income | $1,809,163 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $287,846 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,055,124 |
| 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. | $389,081 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,786,847 |
| Pension plan accruals and contributions | $480,000 |
| Other employee benefits | $512,894 |
| Payroll taxes | $375,506 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,306 |
| Fees for services: Accounting | $79,484 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $133,560 |
| Office expenses | $1,099,500 |
| Information technology | $2,359,402 |
| Royalties | $0 |
| Occupancy | $604,779 |
| Travel | $27,930 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $25,156 |
| Interest | $3,194,297 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $560,795 |
| Insurance | $163,157 |
| All other expenses | $1,524,043 |
| Total functional expenses | $16,324,737 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,733,832 |
| Savings and temporary cash investments | $4,104,894 |
| 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 | $460,842,451 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $796,428 |
| Net Land, buildings, and equipment | $10,045,308 |
| Investments—publicly traded securities | $100,589,817 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $19,618,547 |
| Total assets | $603,731,277 |
| Accounts payable and accrued expenses | $29,300,929 |
| 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 | $533,849,374 |
| Total liabilities | $563,150,303 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $6,084,907 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $34,496,067 |
| Total liabilities and net assets/fund balances | $603,731,277 |