Allegiance Credit Union
- Assets
- $376.0m
- Revenue
- $16.2m
- Investments
- $42.6m
- Employees
- 111
- Location
- Oklahoma City, OK
- Founding
- 01/2004
- Data as of
- 12/2021
- EIN
- 73-0727707
Organization Overview
Allegiance Credit Union is located in Oklahoma City, OK. The organization was established in 2004. 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 12/2021, Allegiance Credit Union employed 111 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Allegiance 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 12/2021, Allegiance Credit Union generated $16.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $14.0m during the year ending 12/2021. While expenses have increased by 1.5% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
26,279 MEMBERS SERVED, OFFERING FINANCIAL SERVICES TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
26,279 MEMBERS SERVED, OFFERING FINANCIAL SERVICES TO MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Downs Ceopresident | Officer | 55 | $306,002 |
Sabrina Waner Svpcfo | Officer | 55 | $281,593 |
Brian Engel Senior Vpcio | Officer | 50 | $178,914 |
John Reavis Senior Vpcoo | Officer | 50 | $175,344 |
Brent Rempe SVP Stratagey Growth | Officer | 50 | $160,623 |
Angela Holland Svpchro | Officer | 50 | $139,208 |
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 | $10,009,385 |
| Investment income | $739,609 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$171,420 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,187,363 |
| 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. | $1,420,887 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $4,319,008 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $251,192 |
| Other employee benefits | $555,471 |
| Payroll taxes | $440,903 |
| Fees for services: Management | $408,031 |
| 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 | $358,841 |
| Office expenses | $1,837,941 |
| Information technology | $1,635,635 |
| Royalties | $0 |
| Occupancy | $537,281 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $108,632 |
| Interest | $1,238,614 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $743,468 |
| Insurance | $105,443 |
| All other expenses | $0 |
| Total functional expenses | $13,994,491 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,677,259 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $110,392 |
| Loans from Officers, Directors, or Controlling Persons | $1,683,775 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $291,416,206 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $632,495 |
| Net Land, buildings, and equipment | $7,458,188 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $42,649,756 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,396,972 |
| Total assets | $376,025,043 |
| Accounts payable and accrued expenses | $1,572,130 |
| 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 | $347,163,456 |
| Total liabilities | $348,735,586 |
| 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 | $27,289,457 |
| Total liabilities and net assets/fund balances | $376,025,043 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Firstmark Credit Union San Antonio, TX | $1,229,967,544 | $50,715,745 |
Meritrust Credit Union Wichita, KS | $1,281,507,668 | $48,306,293 |
True Sky Credit Union Oklahoma City, OK | $831,301,668 | $47,281,663 |
United Heritage Credit Union Austin, TX | $1,405,950,790 | $55,051,200 |
First Service Credit Union Houston, TX | $855,098,387 | $54,328,304 |
Neighborhood Credit Union Dallas, TX | $1,066,752,639 | $52,511,237 |
Velocity Credit Union Austin, TX | $1,067,927,517 | $65,298,866 |
Texans Credit Union Richardson, TX | $2,114,687,717 | $56,103,692 |
Resource One Credit Union Dallas, TX | $739,668,611 | $42,535,084 |
Fort Worth Community Credit Union Bedford, TX | $1,211,753,992 | $43,127,818 |
Weokie Federal Credit Union Oklahoma City, OK | $1,024,486,254 | $42,986,888 |
Community Resource Credit Union Baytown, TX | $712,967,542 | $43,169,320 |