Highway Employees Credit Union
- Assets
- $1.9m
- Revenue
- $92.6k
- Investments
- $0.0
- Employees
- 2
- Location
- Tyler, TX
- Founding
- 06/1976
- Data as of
- 12/2022
- EIN
- 75-1023729
Organization Overview
Highway Employees Credit Union is located in Tyler, 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 12/2022, Highway Employees Credit Union employed 2 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Highway Employees 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, Highway Employees Credit Union generated $92.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $82.2k during the year ending 12/2022. While expenses have increased by 1.5% 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
THE HIGHWAY EMPLOYEES CREDIT UNION PROVIDES COMPETITIVE RATES ON LOANS AND SAVINGS ACCOUNTS TO EMPLOYEES AND THEIR FAMILIES OF THE TEXAS DEPARTMENT OF TRANSPORTATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBER SHARE ACCOUNTS: THE CREDIT UNION'S SHARE ACCOUNT OFFER OUR MEMBERS A COMPETITIVE DIVIDEND RATE ON THEIR SAVINGS. THERE WERE 435 MEMBERS-OWNER ACCOUNTS AS OF DECEMBER 31, 2022. WE ENCOURAGE OUR MEMBERS TO DEVELOP A HABIT OF SAVINGS.
CONSUMER LOANS: SINCE THE BEGINNING OF THE CREDIT UNION IN 1959, WE HAVE PROVIDED PERSONAL AND COLLATERAL LOANS. THE CONSUMER LOANS PRODUCT LINE INCLUDES NEW AND USED VEHICLES, BOATS, MOTORCYCLES, ATVS AND TRAVEL TRAILER LOANS. THE MEMBERS ALSO HAVE THE OPTION OF PURCHASING GAP COVERAGE ON THE VEHICLE LOANS.
THE CREDIT UNION HAS SOME EXPENSES THAT INCLUDE: TWO FULL TIME EMPLOYEES ALONG WITH THEIR SALARIES, TAXES PAID AND OTHER EXPENSES TO OPERATE THE CREDIT UNION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melissa Frick President/manager | Officer | 28 | $24,675 |
Vicki Dickerson Secretary | OfficerTrustee | 1 | $0 |
John Goodwin Chairman | OfficerTrustee | 1 | $0 |
Larry West Treasurer | OfficerTrustee | 1 | $0 |
Conley Owens Vice Chairman | OfficerTrustee | 1 | $0 |
Clint Costner Director | Officer | 1 | $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 | $88,490 |
| Investment income | $1,819 |
| 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 | $92,552 |
| 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. | $24,675 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $24,315 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,971 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,387 |
| Information technology | $2,061 |
| Royalties | $0 |
| Occupancy | $5,042 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,096 |
| Interest | $3,681 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $284 |
| Insurance | $3,768 |
| All other expenses | $547 |
| Total functional expenses | $82,206 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,287 |
| Savings and temporary cash investments | $8,725 |
| 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 | $1,484,349 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,863 |
| Net Land, buildings, and equipment | $178 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $371,166 |
| Total assets | $1,909,568 |
| Accounts payable and accrued expenses | $3,490 |
| 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 | $1,443,859 |
| Total liabilities | $1,447,349 |
| 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 | $462,219 |
| Total liabilities and net assets/fund balances | $1,909,568 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
First Central Credit Union Waco, TX | $142,192,635 | $12,212,863 |
Gulf Credit Union Groves, TX | $336,623,302 | $15,838,269 |
Energy Capital Credit Union Houston, TX | $259,660,339 | $11,030,260 |
State Chartered Credit Unions In Louisiana Lake Charles, LA | $153,121,704 | $12,096,894 |
Investex Credit Union Humble, TX | $266,144,576 | $10,751,669 |
Schlumberger Employees Credit Union Sugar Land, TX | $924,208,566 | $19,656,324 |
Zia Credit Union Los Alamos, NM | $198,577,340 | $10,872,858 |
Plus4 Credit Union Houston, TX | $132,777,176 | $9,356,644 |
Southwest Heritage Credit Union Odessa, TX | $192,873,869 | $11,246,334 |
Municipal Employees Credit Union Of Oklahoma City Oklahoma City, OK | $165,134,391 | $7,876,374 |
Membersource Credit Union Houston, TX | $222,529,883 | $9,847,092 |
Community Service Credit Union Huntsville, TX | $134,601,898 | $8,942,744 |