Listerhill Credit Union
- Assets
- $1.3b
- Revenue
- $65.8m
- Investments
- $0.0
- Employees
- 321
- Location
- Sheffield, AL
- Founding
- 06/1971
- Data as of
- 12/2022
- EIN
- 63-0333902
Organization Overview
Listerhill Credit Union is located in Sheffield, AL. The organization was established in 1971. 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 12/2022, Listerhill Credit Union employed 321 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Listerhill 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, Listerhill Credit Union generated $65.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $57.5m during the year ending 12/2022. While expenses have increased by 5.6% 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
TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
92,204 MEMBERS SERVED TO PROMOTE THRIFT OPPORTUNITIES AND LOW COST LOANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Franklin Brown Chairperson | Trustee | 1 | $0 |
Mark Linder Vice Chairperson | Trustee | 1 | $0 |
Mark Massey Director | Trustee | 1 | $0 |
Kevin Buttrum Director | Trustee | 1 | $0 |
Larry Hester Director | Trustee | 1 | $0 |
Alex Godwin Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Smith General Construction | 12/30/22 | $1,929,109 |
Cennox Atm's | 12/30/22 | $842,147 |
Apiture Mobile Vendor | 12/30/22 | $828,462 |
Jackson Trust Services | 12/30/22 | $702,211 |
Jack Henry & Associates Core Processor | 12/30/22 | $617,376 |
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 | $41,807,298 |
| Investment income | $2,622,879 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $186,273 |
| Net Rental Income | $200 |
| Net Gain/Loss on Asset Sales | -$196,946 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $65,807,803 |
| 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. | $2,842,880 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,088,704 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,192,693 |
| Payroll taxes | $1,406,720 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $38,204 |
| Fees for services: Accounting | $317,972 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $243,095 |
| Advertising and promotion | $1,415,986 |
| Office expenses | $988,611 |
| Information technology | $51,327 |
| Royalties | $0 |
| Occupancy | $1,096,183 |
| Travel | $144,944 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $27,411 |
| Interest | $7,007,228 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,003,948 |
| Insurance | $332,743 |
| All other expenses | $3,363,807 |
| Total functional expenses | $57,533,814 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $40,691,278 |
| Savings and temporary cash investments | $12,773,688 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $448,454 |
| Loans from Officers, Directors, or Controlling Persons | $10,534,351 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,046,708,808 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $11,532,673 |
| Net Land, buildings, and equipment | $31,486,737 |
| Investments—publicly traded securities | $126,591,517 |
| Investments—other securities | $0 |
| Investments—program-related | $20,556,316 |
| Intangible assets | $0 |
| Other assets | $14,568,058 |
| Total assets | $1,315,891,880 |
| Accounts payable and accrued expenses | $6,905,430 |
| 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 | $29,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,197,361,449 |
| Total liabilities | $1,233,266,879 |
| 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 | $82,625,001 |
| Total liabilities and net assets/fund balances | $1,315,891,880 |