Employees Credit Union
- Assets
- $30.3m
- Revenue
- $1.1m
- Investments
- $18.0m
- Employees
- 10
- Location
- Nashville, TN
- Founding
- Data as of
- 12/2015
- EIN
- 62-6042135
Organization Overview
Employees Credit Union is located in Nashville, TN. As of 12/2014, Employees Credit Union employed 10 individuals. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2015
Describe the Organization's Mission:
Part 3 - Line 1
PROVISION OF CREDIT UNION SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVISION OF CREDIT UNION SERVICES TO THIS STATE CHARTERED CREDIT UNION'S MEMBERSHIP
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Phillip Elam Ceo/treasurer | Officer | 50 | $133,468 |
Bruce Rhodes VP Loans | Officer | 50 | $58,387 |
Micahel Pittman CFO | Officer | 50 | $57,714 |
Ron Gibson Key Mgt Employee | Officer | 50 | $55,222 |
Matt Johnson Chairman | Trustee | 2 | $0 |
Tim Baxter Vice Chairman | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $294,475 |
| 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 | $1,092,737 |
| Statement of Expenses | |
|---|---|
| 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. | $146,354 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $479,993 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $56,792 |
| Travel | $0 |
| 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 | $0 |
| Total functional expenses | $1,057,199 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $427,225 |
| Savings and temporary cash investments | $2,337,385 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $231,240 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,545,884 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $18,032,946 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $670,618 |
| Total assets | $30,271,038 |
| Accounts payable and accrued expenses | $141,877 |
| 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 | $24,674,221 |
| Total liabilities | $24,816,098 |
| 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 |
| Total liabilities and net assets/fund balances | $5,454,940 |
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