Brazos Valley Schools Credit Union
- Assets
- $982.1m
- Revenue
- $33.6m
- Investments
- $0.0
- Employees
- 223
- Location
- Katy, TX
- Founding
- 06/1976
- Data as of
- 12/2021
- EIN
- 74-1397874
Organization Overview
Brazos Valley Schools Credit Union is located in Katy, 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, Brazos Valley Schools Credit Union employed 223 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Brazos Valley Schools 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, Brazos Valley Schools Credit Union generated $33.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $29.0m during the year ending 12/2021. While expenses have increased by 5.2% 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
BRAZOS VALLEY SCHOOLS CREDIT UNION IS A COOPERATIVE THRIFT INSTITUTION CHARTERED BY THE STATE OF TEXAS TO PROVIDE CREDIT UNION FINANCIAL SERVICES TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SHARE ACCOUNTS:BRAZOS VALLEY SCHOOLS CREDIT UNION'S SHARE ACCOUNTS OFFERS ADVANTAGES TO MEMBERS OF ALL AGES. THE CREDIT UNION HAD 59,227 MEMBER-OWNED ACCOUNTS ON DECEMBER 31, 2021. MEMBER SAVINGS DIVIDENDS ARE PAID QUARTERLY. SHARE ACCOUNTS ARE ACCESSED THROUGH THE BRANCH OFFICES, HOME BANKING VIA THE INTERNET OR TELEPHONE AND ATM'S WORLDWIDE. THE CREDIT UNION ENCOURAGES THE USE OF AUTOMATED PAYROLL DEPOSITS INTO THE ACCOUNTS TO DEVELOP CONSISTENT SAVINGS HABITS.
CHECKING ACCOUNTS:BRAZOS VALLEY SCHOOLS CREDIT UNION OFFERS FOUR TYPES OF CHECKING ACCOUNTS TO OUR MEMBERS: (1) MONEY MARKET (2) DIVIDEND BEARING (3) SERVICE CHARGE FREE AND (4) STUDENT CHECKING ACCOUNT. THE MONEY MARKET AND DIVIDEND BEARING CHECKING ACCOUNTS PAY DIVIDENDS MONTHLY. THE SERVICE CHARGE FREE AND STUDENT CHECKING DO NOT PAY DIVIDENDS. MEMBERS WITH CHECKING ACCOUNTS ARE OFFERED FREE DEBIT CARDS, INTERNET ACCOUNT ACCESS, FREE MOBILE BANKING, AND FREE USE OF INTERNET BILL PAYER PLATFORM.
CONSUMER LOANS:BRAZOS VALLEY SCHOOLS CREDIT UNION OFFERS BOTH PERSONAL CONSUMER LOANS AND REAL ESTATE LOANS TO OUR MEMBERS. THE PERSONAL CONSUMER LOANS INCLUDE: SIGNATURE LOANS, LINE-OF-CREDIT LOANS AND SHARE/CERTIFICATE SECURED LOANS, OTHER SECURED LOANS AND AUTO LOANS. CONSUMER LIFE AND DISABILITY INSURANCE IS AVAILABLE ON ALL PERSONAL CONSUMER LOANS. THE REAL ESTATE LOANS INCLUDE: LAND, CONSTRUCTION, FIRST LIEN MORTGAGE, HOME IMPROVEMENT AND HOME EQUITY, INCLUDING HOME EQUITY LINE OF CREDIT. REAL ESTATE LOANS ARE SERVICED IN-HOUSE WITH ESCROW ACCOUNT SERVICES PROVIDED ON ALL FIRST LIEN MORTGAGES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Yvonne Kershner President/ceo | Officer | 40 | $527,055 |
Christina Frith Chief Member Experience Officer | Officer | 40 | $178,415 |
Courtney Poole CFO | Officer | 40 | $177,641 |
Diane Davis VP Branch Operations | Officer | 40 | $138,325 |
Dhanika Patel Director Of Internal Audit | 40 | $135,757 | |
Chelsea Wooten VP Lending | Officer | 40 | $130,142 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pure It Credit Union Svcs Llc It Consultant | 12/30/21 | $177,378 |
Dale Burtram Lawn Services | 12/30/21 | $107,586 |
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 | $26,896,740 |
| Investment income | $6,102,659 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $573,096 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,585,386 |
| 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. | $1,813,358 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,450,358 |
| Pension plan accruals and contributions | $379,099 |
| Other employee benefits | $1,307,642 |
| Payroll taxes | $646,074 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $39,656 |
| Fees for services: Accounting | $210,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $760,849 |
| Advertising and promotion | $456,464 |
| Office expenses | $346,666 |
| Information technology | $2,071,826 |
| Royalties | $0 |
| Occupancy | $1,658,432 |
| Travel | $132,312 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,946 |
| Interest | $3,591,499 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,111,356 |
| Insurance | $0 |
| All other expenses | $1,783,244 |
| Total functional expenses | $28,962,814 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,264,636 |
| Savings and temporary cash investments | $109,230,104 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,199,877 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $352,341,963 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,385,171 |
| Net Land, buildings, and equipment | $21,842,862 |
| Investments—publicly traded securities | $152,390 |
| Investments—other securities | $0 |
| Investments—program-related | $470,069,600 |
| Intangible assets | $0 |
| Other assets | $13,601,638 |
| Total assets | $982,088,241 |
| Accounts payable and accrued expenses | $4,832,490 |
| 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 | $895,647,188 |
| Total liabilities | $900,479,678 |
| 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 | $81,608,563 |
| Total liabilities and net assets/fund balances | $982,088,241 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ttcu Federal Credit Union Tulsa, OK | $2,611,508,582 | $123,227,030 |
Credit Union Of Texas Allen, TX | $1,777,913,030 | $114,589,686 |
First Community Credit Union Of Houston Houston, TX | $1,964,514,771 | $83,936,302 |
Texas Trust Credit Union Arlington, TX | $1,797,827,251 | $77,667,084 |
Intouch Credit Union Plano, TX | $1,046,983,946 | $47,406,759 |
State Chartered Credit Unions In Louisiana Baton Rouge, LA | $599,377,066 | $59,950,337 |
Firstmark Credit Union San Antonio, TX | $1,229,967,544 | $50,715,745 |
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 |
First Service Credit Union Houston, TX | $855,098,387 | $54,328,304 |
Neighborhood Credit Union Dallas, TX | $1,066,752,639 | $52,511,237 |
Velocity Credit Union Austin, TX | $1,067,927,517 | $65,298,866 |