Mobility Credit Union
- Assets
- $295.2m
- Revenue
- $12.8m
- Investments
- $17.2m
- Employees
- 50
- Location
- Irving, TX
- Founding
- 06/1976
- Data as of
- 12/2021
- EIN
- 75-1248359
Organization Overview
Mobility Credit Union is located in Irving, 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, Mobility Credit Union employed 50 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Mobility 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, Mobility Credit Union generated $12.8m 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 $8.2m during the year ending 12/2021. While expenses have increased by 5.4% 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
PROVIDING PERSONAL FINANCIAL SERVICE AND VALUE TO MEMBERS. THESE SERVICES INCLUDE BANKING, LOANS, AND INVESTMENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SHARE ACCOUNTS THE CREDIT UNION OFFERS SERVICES TO MEMBERS OF ALL AGES. THE NUMBER INCLUDES BASIC SHARES AND SHARE ACCOUNTS DESIGNED FOR HOLIDAY AND VACATION SAVINGS. THESE ACCOUNTS CAN BE ACCESSED BY HOMEBANKING, AUDIO REPSONSE, AND A FREE DEBIT CARD.
CHECKING ACCOUNTS THE CREDIT UNION PROVIDES CHECKING ACCOUNTS FOR MEMBERS TO ACCESS WITH VARIOUS FEATURES. WE OFFER FREE CHECKING , AS WELL AS ACCOUNTS THAT PAY DIVIDENDS. THESE ACCOUNTS COME WITH FREE BILL PAY, A FREE DEBIT CARD, ACCESS TO FREE SHARED BRANCHING FACILITIES, AND SURCHARGE FREE ATM'S NATIONWIDE.
CONSUMER LOANS AND CREDIT CARDS THE CREDIT UNION OFFERS CONSUMER LOANS TO INCLUDE AUTOMOBILES, RECREATIONAL VEHICLES, EQUIPMENT, AND UNSECURED LOAN PRODUCTS TO MEMBERS. THE CREDIT UNION ALSO OFFERS A VISA CREDIT CARD TO MEMBERS. ALL LOAN PRODUCTS OFFER REASONABLE RATES WITH DIFFERENT METHODS OF PAYBACK FOR MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ron Perry CEO | Officer | 40 | $297,429 |
Steve Martin CFO | Officer | 40 | $216,966 |
Jason Sims Director It | 40 | $116,615 | |
Anthony Hill Chairman | OfficerTrustee | 2 | $0 |
Mike Struffolino Director | OfficerTrustee | 2 | $0 |
Steve Pratt Treasurer | OfficerTrustee | 2 | $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 | $12,830,965 |
| Investment income | $12,651 |
| 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 | $12,843,616 |
| 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. | $631,010 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,329,871 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $678,906 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $421,563 |
| Advertising and promotion | $208,597 |
| Office expenses | $2,021,950 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $472,933 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $79,066 |
| Interest | $7,622 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,949 |
| All other expenses | $113,193 |
| Total functional expenses | $8,210,186 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,573,678 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,312,696 |
| Loans from Officers, Directors, or Controlling Persons | $5,305,680 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $255,705,369 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,336,157 |
| Net Land, buildings, and equipment | $6,060,046 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $17,230,419 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,697,638 |
| Total assets | $295,221,683 |
| Accounts payable and accrued expenses | $284,447 |
| 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 | $269,905,233 |
| Total liabilities | $270,189,680 |
| 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 | $25,032,003 |
| Total liabilities and net assets/fund balances | $295,221,683 |
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