Relyon Credit Union

Organization Overview

Relyon Credit Union is located in Kaufman, 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, Relyon Credit Union employed 49 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Relyon 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, Relyon Credit Union generated $6.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.3% each year . All expenses for the organization totaled $6.2m during the year ending 12/2021. While expenses have increased by 13.2% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE CREDIT UNION IS A COOPERATIVE THRIFT INSTITUTION AND IS A MEMBER OF THE NATIONAL CREDIT UNION ADMINISTRATION INSURANCE FUND. THE CREDIT UNION IS REGULATED BY THE STATE OF TEXAS CREDIT UNION DEPARTMENT AS WELL AS THE NATIONAL CREDIT UNION ADMINISTRATION. THE CREDIT UNION OFFERS PRODUCTS AND SERVICES IN FOUR PRIMARY AREAS: SHARE ACCOUNTS, CHECKING ACCOUNTS, CONSUMER LOANS, AND REAL ESTATE LOANS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

RELYON CREDIT UNION OFFERS A VARIETY OF CONSUMER LOAN PRODUCTS THAT INCLUDE NEW AND USED AUTO, RECREATIONAL AND EQUIPMENT, SHARE SECURED, UNSECURED LOANS AND CREDIT CARDS. LOAN ANCILLARY INSURANCE PROGRAMS ARE OFFERED AS WELL.


RELYON CREDIT UNION OFFERS CDS AND IRAS FOR INVESTMENT OPTIONS. THERE ARE SHORT AND LONG TERM PRODUCTS AVAILABLE. INTEREST RATES ARE COMPETITIVE.


RELYON CREDIT UNION HAS A MINIMUM OF $5.00 SHARE ACCOUNT BALANCE WITH A ONE-TIME $10.00 MEMBERSHIP FEE. THESE ACCOUNTS PAY A MONTHLY DIVIDEND. AS OF DECEMBER 31, 2021, RELYON CREDIT UNION HAD APPROXIMATELY 7,800 MEMBERS.


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Board, Officers & Key Employees

Name (title)Compensation
Sarah Spooner
President/ceo
$153,334
Jason Neifield
Cao
$126,734
Nicolle Kovacs
CFO
$114,442
David Knop
Chairperson
$0
Joseph Farrier
Secretary
$0
Camile Ehlers
Director
$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$6,346,447
Investment income $106,695
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 $6,453,142

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