Weokie Federal Credit Union
- Assets
- $1.0b
- Revenue
- $43.0m
- Investments
- $322.9m
- Employees
- 251
- Location
- Oklahoma City, OK
- Founding
- 12/2003
- Data as of
- 12/2017
- EIN
- 73-0784198
Organization Overview
Weokie Federal Credit Union is located in Oklahoma City, OK. The organization was established in 2003. 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 12/2016, Weokie Federal Credit Union employed 251 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Weokie Federal 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 12/2017, Weokie Federal Credit Union generated $43.0m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $35.5m during the year ending 12/2017. While expenses have increased by 4.0% per year over the past 3 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
STATE CHARTERED CREDIT UNION PROVIDING FINANCIAL SERVICES TO ITS MEMBER OWNERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WEOKIE CREDIT UNION PAID DIVIDENDS AND INTEREST TO MEMBERS FOR THEIR SAVINGS IN THE AMOUNT OF 3,889,156 IN 2016.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brent Taylor President An | Officer | 45 | $574,630 |
Doug Schwarz Executive VP | Officer | 45 | $394,780 |
Diane Mach COO | Officer | 45 | $210,600 |
David Dubey VP Of It | 45 | $171,700 | |
Steven Mcconnell General Coun | 45 | $149,900 | |
Doyle Province VP Of Mortga | 45 | $149,600 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $8,035,074 |
| 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 | $42,986,888 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $3,790,085 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,321,656 |
| Pension plan accruals and contributions | $1,217,217 |
| Other employee benefits | $1,340,122 |
| Payroll taxes | $747,012 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $129,714 |
| Fees for services: Accounting | $252,915 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $684,532 |
| Office expenses | $937,908 |
| Information technology | $1,558,246 |
| Royalties | $0 |
| Occupancy | $1,115,864 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $229,551 |
| Interest | $4,650,663 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,306,694 |
| Insurance | $223,774 |
| All other expenses | $0 |
| Total functional expenses | $35,498,173 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $46,324,916 |
| Savings and temporary cash investments | $12,564,525 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,911,017 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $599,842,507 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $586,062 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $322,866,223 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,133,893 |
| Total assets | $1,024,486,254 |
| Accounts payable and accrued expenses | $8,622,267 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $2,157,908 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $183,562,515 |
| Other liabilities | $702,037,124 |
| Total liabilities | $896,379,814 |
| 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 |
| Total liabilities and net assets/fund balances | $128,106,440 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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Westerra Credit Union Denver, CO | $1,970,586,116 | $60,087,395 |
Texas Trust Credit Union Arlington, TX | $1,797,827,251 | $77,667,084 |
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Credit Unions Chartered In The State Of Colorado Broomfield, CO | $1,586,159,504 | $57,634,628 |
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 |