Centex Citizens Credit Union
- Assets
- $94.8m
- Revenue
- $5.6m
- Investments
- $9.6m
- Employees
- 43
- Location
- Mexia, TX
- Founding
- 06/1976
- Data as of
- 12/2022
- EIN
- 74-1271704
Organization Overview
Centex Citizens Credit Union is located in Mexia, 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 12/2022, Centex Citizens Credit Union employed 43 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Centex Citizens 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 12/2022, Centex Citizens Credit Union generated $5.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $4.7m during the year ending 12/2022. While expenses have increased by 6.8% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
CENTEX CITIZENS CREDIT UNION IS A COOPERATIVE THRIFT INSTITUTION WITH A STATE CHARTER AND IS A MEMBER OF THE NATIONAL SHARE INSURANCE FUND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SHARE ACCOUNTS: CENTEX CITIZENS CREDIT UNION'S SHARE ACCOUNTS OFFER ADVANTAGES TO MEMBERS OF ALL AGES. MEMBER SAVINGS ACCOUNTS PAY DIVIDENDS QUARTERLY AND OFFER ACCESS THROUGH OUR MAIN OFFICE AND BRANCH LOCATION. ACCESS IS ALSO AVAILABLE THROUGH THE INTERNET HOME BANKING, TELEPHONE, AUDIO RESPONSE AND ATM'S. CENTEX CITIZENS CREDIT UNION HAS A YOUTH SAVINGS PROGRAM THAT ENCOURAGES CONSISTENT SAVINGS HABITS. CENTEX CITIZENS CREDIT UNION HAS 11,150 MEMBERS.
CHECKING ACCOUNTS: CENTEX CITIZENS CREDIT UNION PROVIDES CHECKING ACCOUNTS FOR CONSUMERS WITH VARIOUS FEATURES, MOST OF WHICH OFFER MONTHLY PAID DIVIDENDS. OUR MEMBERS HAVE ACCESS TO THEIR ACCOUNTS THROUGH TWO LOCATIONS, FREE DEBIT CARDS, FREE ATM CARDS AND FREE INTERNET ONLINE BANKING. WE ALSO OFFER A BILL PAY FEATURE WITH UNLIMITED TRANSACTIONS FOR FREE. 53% OF MEMBERS HAVE CHECKING ACCOUNTS.
CONSUMER LOANS: CENTEX CITIZENS CREDIT UNION HAS PROVIDED CONSUMER SIGNATURE LOANS FROM THE BEGINNING. THE CONSUMER LOAN PRODUCT LINE NOW INCLUDES EFFICIENT UNDERWRITING WITH FLEXIBLE OFFERINGS FOR VEHICLES, RECREATIONAL VEHICLES, WATER CRAFTS, MOTORCYCLES, HOME FURNISHINGS, HOME LAWN EQUIPMENT AND SHARE AND CERTIFICATE BACKED LOANS. BOTH LIFE AND DISABILITY INSURANCE IS AVAILABLE ON ANY OF THESE LOANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Johnson Chair | OfficerTrustee | 1 | $0 |
Dennis Wilson Vice Chair | OfficerTrustee | 1 | $0 |
Terry Don Shivers Treasurer | OfficerTrustee | 1 | $0 |
Bobby Mcdonald Secretary | OfficerTrustee | 1 | $0 |
Tara Waggener Director | Trustee | 1 | $0 |
Dr Joe Saucedo Director | Trustee | 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 | $4,942,098 |
| Investment income | $415,715 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,764 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,598,323 |
| 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 | $161,860 |
| Compensation of current officers, directors, key employees. | $413,900 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $996,762 |
| Pension plan accruals and contributions | $91,309 |
| Other employee benefits | $200,195 |
| Payroll taxes | $91,020 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,067 |
| Fees for services: Accounting | $43,486 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $919,658 |
| Advertising and promotion | $49,332 |
| Office expenses | $125,137 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $264,134 |
| Travel | $6,264 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,871 |
| Interest | $2,543 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $379,184 |
| Insurance | $50,604 |
| All other expenses | $90,940 |
| Total functional expenses | $4,655,309 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,277,578 |
| Savings and temporary cash investments | $10,737,506 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $46,646 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $62,749,659 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $103,238 |
| Net Land, buildings, and equipment | $7,608,207 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $9,607,102 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $694,892 |
| Total assets | $94,824,828 |
| Accounts payable and accrued expenses | $1,878,222 |
| 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 | $77,745,171 |
| Total liabilities | $79,623,393 |
| 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 | $15,201,435 |
| Total liabilities and net assets/fund balances | $94,824,828 |