Texans Credit Union
- Assets
- $2.1b
- Revenue
- $56.1m
- Investments
- $25.3m
- Employees
- 307
- Location
- Richardson, TX
- Founding
- 06/1976
- Data as of
- 12/2021
- EIN
- 75-0992590
Organization Overview
Texans Credit Union is located in Richardson, 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, Texans Credit Union employed 307 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Texans 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, Texans Credit Union generated $56.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $40.2m during the year ending 12/2021. 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
TEXANS CREDIT UNION IS A STATE CHARTERED CREDIT UNION FORMED UNDER THE STATE CREDIT UNION LAW. THE CREDIT UNION IS A MEMBER-OWNED COOPERATIVE THAT PROVIDES TRADITIONAL DEPOSIT AND LOAN PRODUCTS, AS WELL AS OTHER FINANCIAL SERVICES TO THE MEMBERSHIP. THE CREDIT UNION'S FOCUS IS TO MAKE OUR MEMBER'S LIVES BETTER WHILE SERVING OUR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOANS: THE CREDIT UNION PROVIDES LOANS OF ALL TYPES IN MANY DIFFERENT CATEGORIES. THE OFFERINGS INCLUDE CONSUMER AUTOMOBILE LOANS, UNSECURED LOANS, RESIDENTIAL MORTGAGE LOANS, HOME EQUITY AND HOME IMPROVEMENT LOANS. AS PART OF THE LOAN PROGRAM THE CREDIT UNION ALSO OFFERS SEVERAL LOAN RELATED INSURANCE PRODUCTS SUCH AS CREDIT LIFE AND DISABILITY, MECHANICAL BREAKDOWN AND GAP INSURANCE.
SHARES SAVINGS AND CERTIFICATES OF DEPOSITS: THE CREDIT UNION OFFERS A NUMBER OF SHARE SAVINGS ACCOUNTS, MONEY MARKET SAVINGS, AND IRA SAVINGS ACCOUNTS. THESE ACCOUNTS PAY DIVIDENDS MONTHLY. OTHER TYPES OF DEPOSIT SAVINGS OFFERINGS INCLUDES CERTIFICATES OF DEPOSIT, BOTH REGULAR MEMBER CERTIFICATES AND IRA CERTIFICATES. THE CERTIFICATES PAY INTEREST ON A MONTHLY BASIS.
CHECKING ACCOUNTS: THE CREDIT UNION OFFERS TWO CHECKING ACCOUNT PRODUCTS. ONE ACCOUNT HAS SIMPLE WAYS TO WAIVE THE MONTHLY SERVICE CHARGE, THE OTHER OFFERS DIVIDENDS TO THOSE MEMBERS WITH HIGHER BALANCES. BOTH PRODUCTS HAVE FEATURES THAT INCLUDE FREE E-SERVICES AND ACCESS TO THOUSANDS OF ATMS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Frazier Chief Executive Officer | Officer | 40 | $635,474 |
Michael Mcwethy Chief Experience Officer | Officer | 40 | $299,040 |
Tanya Patterson Sr. Director Of It | 40 | $208,005 | |
Benjamin Hart Chief Financial Officer | Officer | 40 | $196,444 |
Jennifer Short Chief People Officer | Officer | 40 | $150,000 |
Martin Caplinger Director Of Real Estate | 40 | $148,984 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ncr Internet Home Banking/atm Maintenance | 12/30/21 | $2,166,533 |
Lanvera Statement Processing | 12/30/21 | $571,728 |
Insight Digital Services | 12/30/21 | $424,745 |
Fiserv Network Eft | 12/30/21 | $1,279,092 |
Jack Henry & Associates Core Processor | 12/30/21 | $1,375,448 |
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 | $49,525,283 |
| Investment income | $6,540,526 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $37,883 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $56,103,692 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $1,374,157 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,050,212 |
| Pension plan accruals and contributions | $606,400 |
| Other employee benefits | $1,753,167 |
| Payroll taxes | $1,078,531 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $48,000 |
| Fees for services: Accounting | $116,504 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $280,916 |
| Advertising and promotion | $950,303 |
| Office expenses | $2,173,651 |
| Information technology | $2,410,352 |
| Royalties | $0 |
| Occupancy | $2,732,812 |
| Travel | $46,641 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,564,230 |
| Payments to affiliates | $65,267 |
| Depreciation, depletion, and amortization | $2,048,459 |
| Insurance | $230,877 |
| All other expenses | $1,748,908 |
| Total functional expenses | $40,157,461 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,793,442 |
| Savings and temporary cash investments | $149,477,574 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $15,760,647 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,105,234,213 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,580,948 |
| Net Land, buildings, and equipment | $25,605,885 |
| Investments—publicly traded securities | $749,283,120 |
| Investments—other securities | $25,276,145 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $34,675,743 |
| Total assets | $2,114,687,717 |
| Accounts payable and accrued expenses | $23,952,400 |
| 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 | $1,926,592,286 |
| Total liabilities | $1,950,544,686 |
| 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 | $164,143,031 |
| Total liabilities and net assets/fund balances | $2,114,687,717 |
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 |