Capitol Credit Union
- Assets
- $213.1m
- Revenue
- $9.5m
- Investments
- $34.6m
- Employees
- 57
- Location
- Austin, TX
- Founding
- 06/1976
- Data as of
- 12/2022
- EIN
- 74-6054885
Organization Overview
Capitol Credit Union is located in Austin, 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, Capitol Credit Union employed 57 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Capitol 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, Capitol Credit Union generated $9.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $7.9m during the year ending 12/2022. While expenses have increased by 7.1% 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
CAPITOL CREDIT UNION EXISTS TO PROVIDE CONVENIENCE TO ITS MEMBERS THROUGH A RANGE OF QUALITY FINANCIAL SERVICES AND PRODUCTS OFFERED AT THE BEST POSSIBLE RATES IN A PROFESSIONAL AND PERSONALIZED MANNER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CAPITOL CREDIT UNION PROVIDES A WIDE RANGE OF SECURED AND UNSECURED LOANS TO ITS MEMBERS FOR CONSUMABLE ITEMS, SUCH AS AUTOS, BOATS, MOTORCYCLES, RVS, HOME EQUITY LOANS AND LINE-OF-CREDITS, SIGNATURE LOANS AND LINE-OF-CREDITS AND SHARE OR SHARE CERTIFICATE.
CAPITOL CREDIT UNION OFFERS MONEY MARKET ACCOUNTS TO ITS MEMBERS. IT PAYS A HIGHER DIVIDEND THAN A TYPICAL SAVINGS OR DEMAND ACCOUNT IF THE MINIMUM AVERAGE MONTHLY BALANCE REQUIREMENT IS MET, BUT WITH THE CAPABILITY OF WRITING A LIMITED NUMBER OF CHECKS.
CAPITOL CREDIT UNION OFFERS CERTIFICATES OF DEPOSIT TO ITS MEMBERS WITH VARYING TERMS AND RATES. THESE INSTRUMENTS ALLOW OUR MEMBERS A SAVINGS ALTERNATIVE THAT PAYS HIGHER DIVIDENDS THAN A TYPICAL SAVINGS OR DEMAND ACCOUNT, BUT WITH NO MARKET RISK EXPOSURE.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jaime Lynn Vice Chair | OfficerTrustee | 1 | $0 |
Michael Jones Board Chair | OfficerTrustee | 1 | $0 |
Mike Warner Director | OfficerTrustee | 1 | $0 |
Karim Hirani Treasurer | OfficerTrustee | 1 | $0 |
Beckki Lammert Director | Trustee | 1 | $0 |
Wayne Hamilton Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
First Guard Warranty Corporation Ancillary Loan Product Provider | 12/30/22 | $392,795 |
Wildhorse Financial Services Llc Indirect Loan Fintech | 12/30/22 | $184,416 |
Jack Henry & Associates Core Software Service Provider | 12/30/22 | $519,818 |
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 | $8,579,432 |
| Investment income | $503,283 |
| 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 | $9,538,813 |
| 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 | $250,963 |
| 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 | $3,261,897 |
| Pension plan accruals and contributions | $62,221 |
| Other employee benefits | $333,854 |
| Payroll taxes | $221,801 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,477 |
| Fees for services: Accounting | $66,710 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $750,145 |
| Advertising and promotion | $148,108 |
| Office expenses | $1,460,775 |
| Information technology | $23,248 |
| Royalties | $0 |
| Occupancy | $313,021 |
| Travel | $37,394 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,480 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $315,371 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $7,861,224 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,615,419 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,921,711 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $161,577,445 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $392,334 |
| Net Land, buildings, and equipment | $8,807,915 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $34,598,442 |
| Investments—program-related | $1,711,651 |
| Intangible assets | $0 |
| Other assets | $468,462 |
| Total assets | $213,093,379 |
| Accounts payable and accrued expenses | $3,040,917 |
| 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 | $187,233,649 |
| Total liabilities | $190,274,566 |
| 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 | $22,818,813 |
| Total liabilities and net assets/fund balances | $213,093,379 |