Blue Family Credit Union
- Assets
- $9.7m
- Revenue
- $459.5k
- Investments
- $0.0
- Employees
- 3
- Location
- Mobile, AL
- Founding
- 08/1972
- Data as of
- 12/2023
- EIN
- 63-0357412
Organization Overview
Blue Family Credit Union is located in Mobile, AL. The organization was established in 1972. 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, Blue Family Credit Union employed 3 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Blue Family 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, Blue Family Credit Union generated $459.5k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $383.5k during the year ending 12/2023. While expenses have increased by 2.3% 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
TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEARLY 1,000 MEMBERS SERVED TO PROMOTE THRIFT OPPOTUNITIES AND LOW COST LOANS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pat Mckeown President | Trustee | 1 | $0 |
David Alex Haupt Vice-President | Trustee | 1 | $0 |
Peter Keegan Treasurer | Trustee | 1 | $0 |
Lorna Hodges Secretary | Trustee | 1 | $0 |
Kevin Muscat Member | Trustee | 1 | $0 |
Jackie Wiley Manager | Officer | 40 | $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 | $320,968 |
| Investment income | $94,376 |
| 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 | $459,464 |
| 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. | $68,338 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $80,180 |
| Pension plan accruals and contributions | $7,041 |
| Other employee benefits | $12,782 |
| Payroll taxes | $14,668 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $150 |
| 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 | $21,927 |
| Advertising and promotion | $3,259 |
| Office expenses | $35,827 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,362 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $65,807 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $8,404 |
| Total functional expenses | $383,530 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $43,087 |
| Savings and temporary cash investments | $4,343,973 |
| 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 | $4,843,952 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,464 |
| Net Land, buildings, and equipment | $13 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $425,083 |
| Total assets | $9,658,572 |
| Accounts payable and accrued expenses | $352,100 |
| 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 | $7,918,665 |
| Total liabilities | $8,270,765 |
| 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 | $1,387,807 |
| Total liabilities and net assets/fund balances | $9,658,572 |