Federal Employees Credit Union
- Assets
- $17.8m
- Revenue
- $898.4k
- Investments
- $260.4k
- Employees
- 6
- Location
- Birmingham, AL
- Founding
- 06/1971
- Data as of
- 12/2023
- EIN
- 63-0416506
Organization Overview
Federal Employees Credit Union is located in Birmingham, 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 12/2023, Federal Employees Credit Union employed 6 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Federal 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.
For the year ending 12/2023, Federal Employees Credit Union generated $898.4k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $1.1m during the year ending 12/2023. While expenses have increased by 5.4% 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
CREDIT UNION- TO PROVIDE SERVICES FOR APPROXIMATELY 1,766 MEMBERS IN THE FORM OF LOANS, SAVINGS, AND OTHER FINANCIAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION PROVIDED A VARIETY OF LOAN SERVICES FOR ITS MEMBERS.
THE CREDIT UNION PROVIDED A VARIETY OF DEPOSIT SERVICES FOR ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greg Keller Treasurer/ce | OfficerTrustee | 40 | $92,065 |
Rocky Cook Bod Acting C | Trustee | 1 | $0 |
Larry Stantley Bod 1st Vice | Trustee | 1 | $0 |
Mike Reebals Bod 2nd Vice | Trustee | 1 | $0 |
Carolyn Coleman Board Secret | Trustee | 1 | $0 |
Crystal Stantley Supervisory | Officer | 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 | $771,196 |
| Investment income | $118,056 |
| 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 | $898,361 |
| 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 | $291,929 |
| Pension plan accruals and contributions | $39,227 |
| Other employee benefits | $14,366 |
| Payroll taxes | $22,643 |
| 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 | $34,158 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $71,050 |
| Travel | $745 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $198,668 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $8,423 |
| Total functional expenses | $1,050,843 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,225,798 |
| Savings and temporary cash investments | $6,576,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,442,580 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $33,341 |
| Net Land, buildings, and equipment | $7,023 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $260,368 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $254,952 |
| Total assets | $17,800,062 |
| Accounts payable and accrued expenses | $140,216 |
| 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 | $14,448,733 |
| Total liabilities | $14,588,949 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $493,099 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $2,718,014 |
| Total liabilities and net assets/fund balances | $17,800,062 |