Eastman Credit Union

Organization Overview

Eastman Credit Union is located in Kingsport, 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, Eastman Credit Union employed 1,080 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Eastman 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, Eastman Credit Union generated $291.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $191.0m during the year ending 12/2021. While expenses have increased by 10.1% 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.

Since 2020, Eastman Credit Union has awarded 73 individual grants totaling $3,334,673. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

OPERATED DURING 2021 AS A STATE CHARTERED CREDIT UNION WHOSE PURPOSE IS (CONTINUED ON SCHEDULE O)TO BE THE PREFERRED FINANCIAL INSTITUTION IN THE COMMUNITIES WE SERVE BY PROVIDING FINANCIAL PRODUCTS AND SERVICES WHICH ADD VALUE TO MEMBERS, GUIDED BY CREDIT UNION CO-OPERATIVE VALUES AND SERVICE EXCELLENCE EXPECTATIONS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

OPERATED DURING 2021 AS A STATE CHARTERED MUTUALLY OWNED CREDIT UNION THAT PROMOTED THRIFT BY MAINTAINING ACCOUNTS AND ISSUING SHARES RESULTING IN SUPERIOR VALUE. SERVED 283,812 MEMBERS WITH A VARIETY OF DEPOSIT PRODUCTS TOTALING $6,212,311,809.


OPERATED DURING 2021 AS A STATE CHARTERED MUTUALLY OWNED CREDIT UNION THAT MADE LOANS TO ITS MEMBERS AT REASONABLE RATES OF INTEREST. MAINTAINED A LOAN PORTFOLIO COMPOSED OF CONSUMER, MORTGAGE, HOME EQUITY, VISA AND MEMBER BUSINESS LOANS THAT TOTALED $5,515,171,591.


INVESTED ANY SURPLUS NOT REQUIRED FOR LOANS TO EXERCISE THOSE FUNCTIONS DESCRIBED IN THE LAW OF THE STATE OF TENNESSEE AUTHORIZING THE ORGANIZATION OF CREDIT UNIONS THEREBY FURNISHING OTHER COOPERATIVE FINANCIAL SERVICES TO MEMBERS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Goins Rash Cain Inc
Contracting/building Services
$4,538,364
Ncr Corporation
Online Banking/bill Pay Services
$2,248,175
Idscom - Intelligent Document Solutions
Statement Processing/mailing Services
$3,084,666
Fiserv Solutions Inc
Software Solutions Services
$2,201,009
Microsoft Corporation
Software Solutions Services
$1,423,404
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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$289,341,485
Investment income $1,645,800
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $190,145
Net Gain/Loss on Asset Sales $57,358
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $291,234,788

Grants Awarded

Over the last fiscal year, Eastman Credit Union has awarded $2,471,108 in support to 34 organizations.

Grant RecipientAmount

BALLAD HEALTH FOUNDATION

Org PageRecipient Profile

Johnson City, TN

PURPOSE: BLOODMOBILE SPONSORSHIP, PROJECT SPONSORSHIP, AND EVENT SPONSORSHIP

$1,271,965

Johnson City, TN

PURPOSE: ARTS INITIATIVE

$362,500

JOHNSON CITY CHAMBER OF COMMERCE

Org PageRecipient Profile

Johnson City, TN

PURPOSE: EVENT SPONSORSHIP AND GENERAL ASSISTANCE

$151,000

K-PLAY SPORTS COUNCIL INC

Org PageRecipient Profile

Kingsport, TN

PURPOSE: PROJECT SPONSORSHIP

$100,000

YWCA NORTHEAST TNSW VA

Org PageRecipient Profile

Bristol, TN

PURPOSE: GENERAL ASSISTANCE AND CAPITAL CAMPAIGN

$80,000

PETWORKS ANIMAL SERVICES

PURPOSE: CAPITAL CAMPAIGN

$50,000
View Grant Profile

Peer Organizations

Organization NameAssets
Delta Community Credit Union
Atlanta, GA
$296,340,741
Eastman Credit Union
Kingsport, TN
$291,234,788
Georgia's Own Credit Union
Atlanta, GA
$147,500,350
Knoxville Tva Employees Credit Unio
Knoxville, TN
$162,152,547
Robins Financial Credit Union
Warner Robins, GA
$147,788,018
Atlanta Postal Credit Union
Atlanta, GA
$86,141,254
Commonwealth Credit Union
Frankfort, KY
$88,350,902
Georgia United Credit Union
Duluth, GA
$80,835,681
Lge Community Credit Union
Atlanta, GA
$81,568,561
Associated Credit Union
Norcross, GA
$74,274,351
Max Credit Union
Montgomery, AL
$76,797,432
Vizo Financial Corporate Credit Union
Greensboro, NC
$155,341,145

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