Highway District 9 Credit Union
- Assets
- $4.8m
- Revenue
- $142.6k
- Investments
- $0.0
- Employees
- 2
- Location
- Waco, TX
- Founding
- 06/1976
- Data as of
- 12/2022
- EIN
- 74-1272799
Organization Overview
Highway District 9 Credit Union is located in Waco, 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, Highway District 9 Credit Union employed 2 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Highway District 9 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, Highway District 9 Credit Union generated $142.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (6.5%) each year. All expenses for the organization totaled $149.5k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.0%) per year over the past 4 years. 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
HIGHWAY DISTRICT 9 CREDIT UNION IS A STATE-CHARTERED CREDIT UNION FORMED UNDER THE STATE CREDIT UNION LAW, AND IT PROVIDES TRADITIONAL DEPOSIT AND LOAN PRODUCTS, AS WELL AS OTHER FINANCIAL SERVICES, TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOANS: THE CREDIT UNION PROVIDES LOANS IN SEVERAL CATEGORIES. THE OFFERINGS INCLUDE CONSUMER AUTOMOBILE LOANS, UNSECURED LOANS, SHARE LOANS, AND RESIDENTIAL MORTGAGE LOANS. AS PART OF THE LOAN PROGRAM, THE CREDIT UNION ALSO OFFERS LOAN-RELATED INSURANCE PRODUCTS SUCH AS SINGLE PREMIUM DISABILITY.
SHARE SAVINGS: THE CREDIT UNION OFFERS SAVINGS ACCOUNTS. THESE ACCOUNTS PAY DIVIDENDS SEMI-ANNUALLY.
CHECK CASHING AND OTHER TELLER-RELATED SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rachel Reavis President/manager | 30 | $46,271 | |
Janis Guest Chair | Trustee | 1 | $0 |
David Swinson III Vice-Chair | Trustee | 1 | $0 |
Charlie Phillips Board Of Directors | Trustee | 1 | $0 |
Peter Martelli Board Of Directors | Trustee | 1 | $0 |
Katherine Powledge Secretary/treasurer | 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 | $104,960 |
| Investment income | $37,688 |
| 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 | $142,648 |
| 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. | $67,460 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $2,496 |
| Other employee benefits | $140 |
| Payroll taxes | $5,149 |
| 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 | $14,550 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,848 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $27,266 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,911 |
| Insurance | $4,318 |
| All other expenses | $0 |
| Total functional expenses | $149,463 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,457 |
| Savings and temporary cash investments | $3,332,774 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | -$25,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,371,463 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $16,320 |
| Net Land, buildings, and equipment | $23,085 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $37,229 |
| Total assets | $4,791,328 |
| Accounts payable and accrued expenses | $20,965 |
| 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 | $0 |
| Total liabilities | $20,965 |
| 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 | $4,770,363 |
| Total liabilities and net assets/fund balances | $4,791,328 |