Schlumberger Employees Credit Union
- Assets
- $924.2m
- Revenue
- $19.7m
- Investments
- $672.3m
- Employees
- 0
- Location
- Sugar Land, TX
- Founding
- 06/1976
- Data as of
- 12/2021
- EIN
- 74-6050582
Organization Overview
Schlumberger Employees Credit Union is located in Sugar Land, 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. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Schlumberger Employees 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, Schlumberger Employees Credit Union generated $19.7m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $9.1m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.4%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LOWCOST FINANCIAL SERVICES TO MEMBERS SCHLUMBERGER EMPLOYEES CU IS A COOPERATIVE THRIFT INSTITUTION A MEMBER OF NCUA
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHLUMBERGER EMPLOYEES CREDIT UNION (SECU) SHARE/SAVINGS ACCOUNTS OFFER ADVANTAGES TO ALL OF THE CREDIT UNION'S MEMBERS. MEMBER SAVINGS ACCOUNTS EARN DIVIDENDS QUARTERLY. MEMBERS MAY ACCESS THEIR ACCOUNTS VIA THE SHARED BRANCH NETWORK, HOME BANKING VIA THE INTERNET OR TELEPHONE, IN OUR OFFICE, OR VIA ATMS WORLDWIDE.
SECU PROVIDES CHECKING ACCOUNTS WITH VARIOUS FEATURES FOR ALL OF THE CREDIT UNION'S MEMBERS. FEATURES RANGE FROM ACCOUNTS WITH NO MONTHLY SERVICE CHARGES TO ACCOUNTS WITH ENHANCED BENEFITS. MEMBERS MAY ACCESS THEIR CHECKING ACCOUNTS VIA DEBIT CARD, VIA THE INTERNET OR TELEPHONE, IN OUR OFFICE, OR VIA ATMS WORLDWIDE. ALSO AVAILABLE IS THE ABILITY FOR MEMBERS TO PAY BILLS VIA THE HOME BANKING BILL PAYER PLATFORM. THIS SERVICE IS FREE OF CHARGE.
SINCE ITS INCEPTIONS, SECU HAS PROVIDED LOW-COST LOANS TO ITS MEMBERS. THE CONSUMER LOAN PRODUCT LINE INCLUDES EFFICIENT UNDERSRITING VIA A SECURE ONLINE APPLICATION PROCESS AND COMPETATIVE OFFERINGS FOR VEHICLES, BOATS, AND MOTORCYCLES. CREDIT LIFE & DISABILITY DEBT PROTECTION IS AVAILABLE FOR ANY OF THE CREDIT UNION'S LOAN TYPES.
STATE CHARTERED CREDIT UNION UNRELATED BUSINESS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Van Valkenburgh Board Member | OfficerTrustee | 5 | $0 |
Jerry Harper Board Member | OfficerTrustee | 5 | $0 |
Sonny Johnston Board Member | OfficerTrustee | 5 | $0 |
Nadia Hasouris Board Member | OfficerTrustee | 5 | $0 |
Harold E Ottis Jr Presidentceo | Officer | 40 | $0 |
Melanie Aguilar VP CFO | Officer | 40 | $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 | $11,387,029 |
| Investment income | $7,703,396 |
| 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 | $19,656,324 |
| 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 | $570,198 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,850,783 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $2,652,835 |
| Advertising and promotion | $42,212 |
| Office expenses | $344,035 |
| Information technology | $1,563,815 |
| Royalties | $0 |
| Occupancy | $353,482 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,056 |
| Interest | $38 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $71,567 |
| Insurance | $74,332 |
| All other expenses | -$32,124 |
| Total functional expenses | $9,116,604 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $88,583,431 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $108,601 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $146,643,769 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,631,934 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $672,250,499 |
| Investments—program-related | $8,354,962 |
| Intangible assets | $0 |
| Other assets | $4,635,370 |
| Total assets | $924,208,566 |
| Accounts payable and accrued expenses | $4,336,051 |
| 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 | $750,150,366 |
| Total liabilities | $754,486,417 |
| 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 | $169,722,149 |
| Total liabilities and net assets/fund balances | $924,208,566 |
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