Old Hickory Credit Union
- Assets
- $313.3m
- Revenue
- $12.5m
- Investments
- $75.9m
- Employees
- 95
- Location
- Old Hickory, TN
- Founding
- 06/1952
- Data as of
- 12/2021
- EIN
- 62-6040210
Organization Overview
Old Hickory Credit Union is located in Old Hickory, 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, Old Hickory Credit Union employed 95 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Old Hickory 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, Old Hickory Credit Union generated $12.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $10.5m during the year ending 12/2021. While expenses have increased by 1.0% 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
PROVISION OF CREDIT UNION SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREDIT UNION
N/A
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bonnette Dawson CEO | Officer | 45 | $233,436 |
Diane Bass Director | Trustee | 5 | $0 |
Stacy Bowers Director | Trustee | 5 | $0 |
Ron Bergthold Secretary | Trustee | 5 | $0 |
Mark Branstetter Investments | Trustee | 5 | $0 |
Vencen Horsley Assoc. Direc | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hodges Group Construction | 12/30/21 | $1,140,589 |
Jack Henry And Associates Computers | 12/30/21 | $1,082,605 |
Amstrong Pro Tech Atm Servicing | 12/30/21 | $159,595 |
Xdi Statement Vndr | 12/30/21 | $128,008 |
Results Media Marketing | 12/30/21 | $116,383 |
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 | $10,215,755 |
| Investment income | $650,886 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$45,727 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,481,869 |
| 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. | $248,550 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,677,541 |
| Pension plan accruals and contributions | $130,631 |
| Other employee benefits | $538,249 |
| Payroll taxes | $276,601 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,292 |
| Fees for services: Accounting | $50,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $75,329 |
| Advertising and promotion | $253,776 |
| Office expenses | $2,949,979 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,059,259 |
| Travel | $24,795 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $99 |
| Total functional expenses | $10,530,799 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,787,392 |
| Savings and temporary cash investments | $21,025,259 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,538,451 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $193,975,325 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $14,122,858 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $75,932,145 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,934,745 |
| Total assets | $313,316,175 |
| Accounts payable and accrued expenses | $2,117,935 |
| 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 | $285,462,657 |
| Total liabilities | $287,580,592 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $25,735,583 |
| Total liabilities and net assets/fund balances | $313,316,175 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Credit Unions Of Alabama Tuscaloosa, AL | $1,400,922,106 | $57,798,045 |
Guardian Credit Union Montgomery, AL | $763,618,487 | $55,701,810 |
Avadian Credit Union Birmingham, AL | $1,107,599,442 | $50,956,352 |
Self Help Credit Union Durham, NC | $1,341,389,804 | $52,319,101 |
Credit Unions In The State Of Alabama Rainbow City, AL | $666,462,536 | $43,280,897 |
Leaders Credit Union Jackson, TN | $642,989,895 | $47,507,703 |
State Chartered Credit Unions In North Carolina Durham, NC | $720,522,330 | $47,882,386 |
Five Star Credit Union Dothan, AL | $661,046,497 | $37,991,386 |
First South Financial Credit Union Bartlett, TN | $775,898,594 | $36,735,546 |
Credit Unions In The State Of Alabama Decatur, AL | $941,244,457 | $37,679,526 |
Corporate America Credit Union Irondale, AL | $4,460,889,725 | $54,551,160 |
Southeast Financial Credit Union Franklin, TN | $457,364,506 | $24,675,556 |