Tarrant Countys Credit Union
- Assets
- $120.1m
- Revenue
- $6.3m
- Investments
- $0.0
- Employees
- 52
- Location
- Fort Worth, TX
- Founding
- 06/1976
- Data as of
- 12/2021
- EIN
- 75-1054189
Organization Overview
Tarrant Countys Credit Union is located in Fort Worth, 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, Tarrant Countys Credit Union employed 52 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Tarrant Countys 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, Tarrant Countys Credit Union generated $6.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $6.0m during the year ending 12/2021. While expenses have increased by 1.2% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE OUR MEMBERS WITH THE BEST POSSIBLE FINANCIAL 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 |
|---|---|---|---|
Lily Newfarmer CEO | Officer | 50 | $272,107 |
Carla Reeves Executive VP | Officer | 50 | $185,271 |
Karen Knight VP Of It | Officer | 50 | $109,344 |
Alan Thomas Chairman | OfficerTrustee | 1 | $0 |
Tom Spencer Secretary | OfficerTrustee | 1 | $0 |
Judy Mcdonald Treasurer | OfficerTrustee | 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 | $5,876,162 |
| Investment income | $98,092 |
| 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 | $6,309,923 |
| 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. | $566,722 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,927,740 |
| Pension plan accruals and contributions | $190,386 |
| Other employee benefits | $365,474 |
| Payroll taxes | $185,073 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $838 |
| Fees for services: Accounting | $20,434 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $572,957 |
| Advertising and promotion | $120,449 |
| Office expenses | $240,619 |
| Information technology | $798,316 |
| Royalties | $0 |
| Occupancy | $197,834 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $23,324 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $128,571 |
| Insurance | $53,073 |
| All other expenses | $31,703 |
| Total functional expenses | $6,010,374 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $989,069 |
| Savings and temporary cash investments | $37,299,857 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,379 |
| Loans from Officers, Directors, or Controlling Persons | $524,695 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $76,454,678 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $194,812 |
| Net Land, buildings, and equipment | $947,936 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,686,329 |
| Total assets | $120,112,755 |
| Accounts payable and accrued expenses | $1,843,999 |
| 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 | $108,759,803 |
| Total liabilities | $110,603,802 |
| 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 | $9,508,953 |
| Total liabilities and net assets/fund balances | $120,112,755 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Tarrant Countys Credit Union has recieved totaling $8,500.
| Awarding Organization | Amount |
|---|---|
Cornerstone Credit Union Foundation Plano, TX PURPOSE: CREDIT UNION DEVELOPMENT AND FINANCIAL CAPABILITY | $8,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Coastlife Credit Union Corpus Christi, TX | $459,349,679 | $21,652,843 |
Mct Credit Union Port Neches, TX | $363,107,409 | $15,984,837 |
Americas Credit Union Garland, TX | $409,491,001 | $16,218,007 |
First Basin Credit Union Odessa, TX | $306,636,605 | $15,708,343 |
Allegiance Credit Union Oklahoma City, OK | $376,025,043 | $16,187,363 |
Texoma Community Credit Union Wichita Falls, TX | $259,230,472 | $16,333,220 |
Oklahoma Educators Credit Union Oklahoma City, OK | $242,039,953 | $16,355,869 |
Credit Unions In The State Of New Mexico Santa Fe, NM | $252,448,158 | $14,584,670 |
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 |