Associated Credit Union Of Texas is located in League City, 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, Associated Credit Union Of Texas employed 215 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Associated Credit Union Of Texas 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, Associated Credit Union Of Texas generated $34.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $31.7m during the year ending 12/2022. While expenses have increased by 3.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO OFFER PROGRESSIVE, QUALITY FINANCIAL SERVICES RESPONSIVE TO THE MEMBERS/OWNERS. THE CREDIT UNION IS DEDICATED TO PROVIDING THESE SERVICES IN A CARING, PROFESSIONAL MANNER WHILE MAINTAING A STRONG FINANCIAL BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DIVIDENDS PAID TO MEMBERS
ALL CREDIT UNION FUNCTIONS
NONE
NONE
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Jack Click Chief Executive Officer | 40 | $434,595 | |
Clay Franks President | Officer | 40 | $353,480 |
Charis Pollard Chief Human Resource Officer | Officer | 40 | $289,123 |
David Deanda Chief Legal Officer | Officer | 40 | $288,549 |
Jay Coppock Chief Operations Officer | Officer | 40 | $278,285 |
Kyle Dickson Board Member | Trustee | 2 | $0 |
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 | $25,006,850 |
Investment income | $1,540,938 |
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 | -$183,518 |
Miscellaneous Revenue | $0 |
Total Revenue | $33,960,014 |
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 | $1,639,769 |
Compensation of current officers, directors, key employees. | $1,644,032 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $8,565,410 |
Pension plan accruals and contributions | $1,154,494 |
Other employee benefits | $840,953 |
Payroll taxes | $756,582 |
Fees for services: Management | $1,411,011 |
Fees for services: Legal | $22,311 |
Fees for services: Accounting | $107,387 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $681,807 |
Office expenses | $1,626,492 |
Information technology | $1,162,629 |
Royalties | $0 |
Occupancy | $2,171,811 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $210,983 |
Interest | $24,205 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $884,356 |
Insurance | $221,671 |
All other expenses | $0 |
Total functional expenses | $31,686,214 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $4,923,017 |
Savings and temporary cash investments | $21,622,088 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $192,960 |
Loans from Officers, Directors, or Controlling Persons | $1,491,982 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $2,195,601 |
Net Land, buildings, and equipment | $17,410,112 |
Investments—publicly traded securities | $57,543,794 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $406,843,638 |
Other assets | $0 |
Total assets | $512,223,192 |
Accounts payable and accrued expenses | $8,718,036 |
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 | $8,718,036 |
Net assets without donor restrictions | $503,505,156 |
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 | $0 |
Total liabilities and net assets/fund balances | $512,223,192 |