Pathway Credit Union
- Assets
- $6.4m
- Revenue
- $355.2k
- Investments
- $38.8k
- Employees
- 3
- Location
- Cleveland, TN
- Founding
- 06/1952
- Data as of
- 12/2023
- EIN
- 62-6081645
Organization Overview
Pathway Credit Union is located in Cleveland, 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 12/2023, Pathway Credit Union employed 3 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Pathway 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 12/2023, Pathway Credit Union generated $355.2k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.1% each year. All expenses for the organization totaled $317.8k during the year ending 12/2023. While expenses have increased by 4.7% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PATHWAY CREDIT UNION WAS ESTABLISHED AS A FINANCIAL INSTITUTION TO MEET THE GROWING NEEDS OF THE CHURCH OF GOD ENTITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION PROVIDES SEVERAL DEPOSIT ACCOUNT TYPES TO MEMBERS INCLUDING SAVINGS, CHECKING CERTIFICATE AND OTHER. THE TOTAL NUMBER OF MEMBERS AS OF 12/31/2023 WAS 959
THE CREDIT UNION PROVIDES A VARIETY OF LOANS TO MEMBERS. THE TOTAL NUMBER OF LOANS OUTSTANDING AT 12/31/2023 WAS 2755
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Mccall Chairman | Trustee | 0 | $0 |
Carissa Beasley Secretary | Trustee | 1 | $0 |
Leto Zacharia Director | Trustee | 1 | $0 |
Walter Browning Treasurer | Trustee | 1 | $0 |
Michael Luithle Director | Trustee | 1 | $0 |
Carrie Rice Director | Trustee | 1 | $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 | $329,097 |
| Investment income | $26,142 |
| 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 | $355,239 |
| 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 | $119,292 |
| 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 | $240 |
| Office expenses | $101,064 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,588 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $38,936 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | -$117 |
| Total functional expenses | $317,780 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,821 |
| Savings and temporary cash investments | $1,166,161 |
| 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 | $4,915,255 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $164,390 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $38,785 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $78,312 |
| Total assets | $6,398,724 |
| Accounts payable and accrued expenses | $15,096 |
| 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 | $6,014,608 |
| Total liabilities | $6,029,704 |
| 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 | $369,020 |
| Total liabilities and net assets/fund balances | $6,398,724 |