Datcu
- Assets
- $1.5b
- Revenue
- $58.1m
- Investments
- $0.0
- Employees
- 259
- Location
- Corinth, TX
- Founding
- 06/1976
- Data as of
- 12/2021
- EIN
- 75-0813379
Organization Overview
Datcu is located in Corinth, TX. The organization was established in 1976. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Datcu employed 259 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Datcu 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, Datcu generated $58.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $39.2m during the year ending 12/2021. While expenses have increased by 5.0% 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.
Since 2016, Datcu has awarded 16 individual grants totaling $131,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING MEMBERS WITH A WIDE ARRAY OF COMPETITIVELY PRICED AND EFFICIENTLY DELIVERED SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOANS OF ALL TYPES ARE MADE TO MEMBERS OF THE CREDIT UNION.
SAVINGS ACCOUNTS FOR MEMBERS OF THE CREDIT UNION.
CHECKING ACCOUNTS FOR MEMBERS OF THE CREDIT UNION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Glen Mckenzie President/ceo | Officer | 40 | $1,277,225 |
Melanie Vest Evp, CFO | Officer | 40 | $697,717 |
Jon Madsen Evp, COO | Officer | 40 | $601,238 |
James Henderson Evp, Cio | Officer | 40 | $532,689 |
Robert Hall VP Of Information Systems | Officer | 40 | $283,250 |
Janice Sheppard Senior VP - Real Estate | 40 | $224,362 |
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 | $57,702,271 |
| Investment income | $328,808 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $72,000 |
| Net Gain/Loss on Asset Sales | $17,156 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $58,120,235 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $81,000 |
| Grants and other assistance to domestic individuals. | $500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $3,540,630 |
| Compensation of current officers, directors, key employees. | $3,660,754 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,522,327 |
| Pension plan accruals and contributions | $845,390 |
| Other employee benefits | $1,917,932 |
| Payroll taxes | $864,091 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $113,523 |
| Fees for services: Accounting | $188,438 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $65,091 |
| Advertising and promotion | $376,230 |
| Office expenses | $104,149 |
| Information technology | $4,307,247 |
| Royalties | $0 |
| Occupancy | $1,189,881 |
| Travel | $37,730 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $108,191 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,872,540 |
| Insurance | $251,661 |
| All other expenses | $2,094,355 |
| Total functional expenses | $39,198,847 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $202,021,572 |
| Savings and temporary cash investments | $2,272,514 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,175,270,538 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,448,176 |
| Net Land, buildings, and equipment | $42,568,607 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $33,366,844 |
| Intangible assets | $0 |
| Other assets | $14,270,309 |
| Total assets | $1,472,218,560 |
| Accounts payable and accrued expenses | $7,761,920 |
| 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 | $1,268,468,211 |
| Total liabilities | $1,276,230,131 |
| 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 | $195,988,429 |
| Total liabilities and net assets/fund balances | $1,472,218,560 |
Grants Awarded
Over the last fiscal year, Datcu has awarded $76,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Lewisville, TX PURPOSE: GENERAL OPERATIONS | $22,000 |
Lewisville, TX PURPOSE: GENERAL OPERATIONS | $15,000 |
NORTH TEXAS STATE FAIR PURPOSE: GENERAL OPERATIONS | $12,500 |
Denton, TX PURPOSE: GENERAL OPERATIONS | $10,000 |
SERVE DENTON PURPOSE: GENERAL OPERATIONS | $9,000 |
CASA OF DENTON COUNTY PURPOSE: GENERAL OPERATIONS | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Eecu Fort Worth, TX | $3,346,818,050 | $132,703,955 |
Datcu Corinth, TX | $1,472,218,560 | $58,120,235 |
Smart Financial Credit Union Houston, TX | $863,045,485 | $34,269,474 |
East Texas Professional Credit Longview, TX | $963,213,382 | $39,825,100 |
Texell Credit Union Temple, TX | $562,565,721 | $32,645,542 |
Capital Certified Development Corporation Austin, TX | $10,331,482 | $7,851,539 |
Brazos Student Finance Corporation Waco, TX | $111,165,594 | $4,506,585 |
Trans Texas Southwest San Angelo, TX | $44,278,686 | $2,099,854 |
Student Loan Guarantee Foundation Of Arkansas North Little Rock, AR | $5,532,296 | $1,265 |
Human Milk Banking Association Of North America Fort Worth, TX | $1,162,714 | $410,642 |
George T & Effie L Seay Dallas, TX | $4,185,319 | $820,552 |
Pie Houston, TX | $11,592,714 | $304,669 |