Texas Trust Credit Union
- Assets
- $1.8b
- Revenue
- $77.7m
- Investments
- $255.3m
- Employees
- 336
- Location
- Arlington, TX
- Founding
- 06/1976
- Data as of
- 12/2021
- EIN
- 75-0763606
Organization Overview
Texas Trust Credit Union is located in Arlington, 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, Texas Trust Credit Union employed 336 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Texas Trust 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, Texas Trust Credit Union generated $77.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.2% each year. All expenses for the organization totaled $56.3m during the year ending 12/2021. While expenses have increased by 6.3% 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
PROVIDING MEMBERS A LIFETIME OF FINANCIAL SERVICES AND MAINTAINING A FINANCIALLY STRONG COOPERATIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INCOME FROM THE CREDIT UNION MEMBERSHIP AND INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Minge CEO | Officer | 45 | $774,048 |
Clay Yearsley SVP Data Analytics | 45 | $572,959 | |
William Kelsey President | Officer | 45 | $408,125 |
David Turner Evp Chief Information Offi | Officer | 45 | $290,875 |
Virginia N Chapline Evp Chief Operating Office | Officer | 45 | $283,913 |
Ronnie Smith Jr Evp Chief Growth Officer | Officer | 45 | $276,624 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
L Keeley Construction Construction | 12/30/21 | $2,053,502 |
Jack Henry & Associates Inc Core And Other Critical Systems | 12/30/21 | $1,155,282 |
Dbsi Inc Design Build Technology | 12/30/21 | $805,244 |
Cdw Direct It Hardware And Software | 12/30/21 | $658,466 |
Lanvera Statement Processing | 12/30/21 | $599,102 |
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 | $73,672,819 |
| Investment income | $4,351,904 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $82,499 |
| Net Gain/Loss on Asset Sales | -$440,138 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $77,667,084 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $711,714 |
| 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. | $2,524,369 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,706,663 |
| Pension plan accruals and contributions | -$1,465,404 |
| Other employee benefits | $2,847,116 |
| Payroll taxes | $1,465,889 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $177,079 |
| Fees for services: Accounting | $173,371 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,103,702 |
| Advertising and promotion | $1,583,430 |
| Office expenses | $1,237,887 |
| Information technology | $900,380 |
| Royalties | $0 |
| Occupancy | $1,281,067 |
| Travel | $282,994 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $211,847 |
| Interest | $6,991,594 |
| Payments to affiliates | $11,289 |
| Depreciation, depletion, and amortization | $3,549,437 |
| Insurance | $0 |
| All other expenses | $3,053,504 |
| Total functional expenses | $56,265,896 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,200,383 |
| Savings and temporary cash investments | $78,443,792 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,858,647 |
| Loans from Officers, Directors, or Controlling Persons | $6,536,096 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,301,345,295 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $46,262,607 |
| Net Land, buildings, and equipment | $48,075,923 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $255,283,081 |
| Investments—program-related | $0 |
| Intangible assets | $1,982,055 |
| Other assets | $27,839,372 |
| Total assets | $1,797,827,251 |
| Accounts payable and accrued expenses | $18,244,324 |
| 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 | $135,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,467,535,469 |
| Total liabilities | $1,620,779,793 |
| 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 | $177,047,458 |
| Total liabilities and net assets/fund balances | $1,797,827,251 |
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 |