Union Square Credit Union
- Assets
- $684.8m
- Revenue
- $34.0m
- Investments
- $7.5m
- Employees
- 178
- Location
- Wichita Falls, TX
- Founding
- 06/1976
- Data as of
- 12/2022
- EIN
- 75-0971964
Organization Overview
Union Square Credit Union is located in Wichita Falls, TX. The organization was established in 1976. As of 12/2022, Union Square Credit Union employed 178 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Union Square 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, Union Square Credit Union generated $34.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 17.7% each year . All expenses for the organization totaled $30.0m during the year ending 12/2022. While expenses have increased by 22.7% 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
TO SERVE THE FINANCIAL NEEDS OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SERVE THE FINANCIAL NEEDS AND DREAMS OF THE MEMBERS. UNION SQUARE CREDIT UNION CORE VALUES INCLUDE MEMBER SERVICE AND SENSITIVITY, ETHICAL AND LEGAL BEHAVIOR, DIVERSITY AND EQUAL OPPORTUNITY, SOUND, STRONG BUSINESS JUDGMENT, AND FRIENDLY AND KNOWLEDGEABLE STAFF. WITH THESE VALUES, UNION SQUARE CREDIT UNION'S VISION IS TO BE THE FINANCIAL CENTER OF CHOICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Barad President/ceo | OfficerTrustee | 40 | $418,608 |
David Nix Chairman | OfficerTrustee | 1 | $0 |
Gary Stevenson Vice Chairman | OfficerTrustee | 1 | $0 |
Eric West Secretary/treasurer | OfficerTrustee | 1 | $0 |
Danny Ahern Director | Trustee | 1 | $0 |
Paul Fleming Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fiserv Monthly Maintenance | 12/30/22 | $3,278,432 |
Newground International Inc Contracting | 12/30/22 | $2,026,650 |
Pureit Credit Union Services Llc Network Services | 12/30/22 | $342,634 |
Credit Bureau Of North Texas Credit Reports | 12/30/22 | $279,571 |
Longo Landscape And Lawn Service Landscaping | 12/30/22 | $189,394 |
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 | $32,442,302 |
| Investment income | $1,744,082 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$34,375 |
| Net Gain/Loss on Asset Sales | -$124,437 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $34,027,572 |
| 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 | $4,056,307 |
| Compensation of current officers, directors, key employees. | $1,989,226 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,930,941 |
| Pension plan accruals and contributions | $645,176 |
| Other employee benefits | $939,497 |
| Payroll taxes | $561,305 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,403 |
| Fees for services: Accounting | $86,148 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,591,467 |
| Advertising and promotion | $521,330 |
| Office expenses | $3,568,598 |
| Information technology | $532,591 |
| Royalties | $0 |
| Occupancy | $543,197 |
| Travel | $224,631 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,699,932 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,127,185 |
| Insurance | $126,445 |
| All other expenses | $0 |
| Total functional expenses | $30,027,317 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,196,887 |
| Savings and temporary cash investments | $6,594,717 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $425,653 |
| Loans from Officers, Directors, or Controlling Persons | $6,624,380 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $577,527,110 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $264,766 |
| Net Land, buildings, and equipment | $20,610,668 |
| Investments—publicly traded securities | $42,093,097 |
| Investments—other securities | $7,523,644 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,916,666 |
| Total assets | $684,777,588 |
| Accounts payable and accrued expenses | $3,538,230 |
| 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 | $69,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $562,111,224 |
| Total liabilities | $634,649,454 |
| 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 | $50,128,134 |
| Total liabilities and net assets/fund balances | $684,777,588 |