Energy Capital Credit Union
- Assets
- $259.7m
- Revenue
- $11.0m
- Investments
- $14.0m
- Employees
- 68
- Location
- Houston, TX
- Founding
- 06/1976
- Data as of
- 12/2021
- EIN
- 74-1110016
Organization Overview
Energy Capital Credit Union is located in Houston, TX. The organization was established in 1976. 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, Energy Capital Credit Union employed 68 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Energy Capital 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, Energy Capital Credit Union generated $11.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $9.7m during the year ending 12/2021. While expenses have increased by 5.3% 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
ENERGY CAPITAL CREDIT UNION IS A COOPERATIVE THRIFT INSTITUTION AND IS A MEMBER OF THE NATIONAL CREDIT UNION ADMINISTRATION INSURANCE FUND. THE CREDIT UNION IS REGULATED BY THE STATE OF TEXAS CREDIT UNION DEPARTMENT AS WELL AS THE NATIONAL CREDIT UNION ADMINISTRATION. ENERGY CAPITAL CREDIT UNION OFFERS PRODUCTS AND SERVICES IN FOUR PRIMARY AREAS: SHARE ACCOUNTS, CHECKING ACCOUNTS, CONSUMER LOANS, AND REAL ESTATE LOANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SHARE ACCOUNTS - ENERGY CAPITAL CREDIT UNION'S SHARE ACCOUNTS OFFER ADVANTAGES TO MEMBERS OF ALL AGES. THE CREDIT UNION HAD 18,316 MEMBER-OWNER ACCOUNTS AS OF DECEMBER 31, 2021. MEMBER SAVINGS ACCOUNTS PAY DIVIDENDS MONTHLY AND OFFER ACCESS THROUGH THE SHARED BRANCH NETWORK, HOME BANKING VIA THE INTERNET, 3 BRANCH LOCATIONS AND ATMS WORLDWIDE. SPECIAL SAVINGS ACCOUNTS DESIGNED FOR CHILDREN AND TEENAGRS ENCOURGAE THE DEVELOPMENT OF CONSISTENT SAVINGS HABITS. CODE: 522130
CHECKING ACCOUNTS- ENERGY CAPITAL CREDIT UNION PROVIDES CHECKING ACCOUNTS FOR CONSUMERS WITH VARIOUS FEATURES FROM FREE ACCOUNTS TO THOSE WITH ENHANCED BENEFITS. MOST OFFER DIVIDENDS THAT ARE PAID MONTHLY. ADDITIONALLY, THE CREDIT UNION EXTENDS THE REACH OF THESE ACCOUNTS TO ALL MEMBERS WITH FREE DEBIT CARDS, INTERNET ACCOUNT ACCESS AND FREE USE OF THE INTERNET BILL PAY BROGRAM. 47.22% OF THE CREDIT UNION'S MEMBERS HAVE A CHECKING ACCOUNT. CODE: 522130
CONSUMER LOANS - ENERGY CAPITAL CREDIT UNION HAS PROVIDED VEHICLE LOANS SINCE ITS FIRST YEAR OF OPERATIONS. THE CONSUMBER LOAN PRODUCT LINE NOW INCLUDES EFFICIENT UNDERWRITING AND FLEXIBLE OFFERINGS FOR AUTO, SIGNATURE LOANS, CREDIT CARDS, RECREATIONAL VEHICLES, BOATS, MOTORCYCLES, HOME EQUITY AND MORTGAGE LOANS. CONSUMER DEBT PROTECTION INSURANCE IS AVAILABLE ON MAY OF THESE LOAN TYPES. CODE:522130
GENERAL OVERHEAD FOR OPERATIONS OF THE CREDIT UNION, SEE SCHEDUL O STATEMENT 1
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Pearsall Chief Executive Officer | Officer | 40 | $373,934 |
Kanika Boutte Chief Operating Officer | Officer | 50 | $219,927 |
Corey Cunningham Chief Financial Officer | Officer | 50 | $163,235 |
Deana Price Hr VP | 50 | $122,332 | |
Danny Contreras Msvp | 50 | $121,938 | |
Huy Tran Director | Trustee | 2 | $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 | $10,354,772 |
| Investment income | $586,794 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $87,821 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,030,260 |
| 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. | $924,671 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,091,407 |
| Pension plan accruals and contributions | $98,687 |
| Other employee benefits | $396,671 |
| Payroll taxes | $171,107 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $58,123 |
| Fees for services: Accounting | $47,388 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $46,868 |
| Fees for services: Other | $152,779 |
| Advertising and promotion | $433,217 |
| Office expenses | $1,157,095 |
| Information technology | $115,492 |
| Royalties | $0 |
| Occupancy | $463,688 |
| Travel | $22,112 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $441,206 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $443,173 |
| Insurance | $92,740 |
| All other expenses | $0 |
| Total functional expenses | $9,737,295 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $690,915 |
| Savings and temporary cash investments | $18,049,184 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $590,386 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $215,412,644 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,828,206 |
| Net Land, buildings, and equipment | $5,713,130 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $13,993,522 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,382,352 |
| Total assets | $259,660,339 |
| Accounts payable and accrued expenses | $2,554,882 |
| Grants payable | $0 |
| Deferred revenue | $4,370,477 |
| 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 | $228,272,188 |
| Total liabilities | $235,197,547 |
| 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 | $24,462,792 |
| Total liabilities and net assets/fund balances | $259,660,339 |
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