National Oilwell Varco Employees Credit Union
- Assets
- $0.0
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 4
- Location
- Houston, TX
- Founding
- 06/1976
- Data as of
- 12/2020
- EIN
- 75-6027993
Organization Overview
National Oilwell Varco Employees Credit Union is located in Houston, 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 12/2020, National Oilwell Varco Employees Credit Union employed 4 individuals. National Oilwell Varco 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O, STATEMENT 1 NATIONAL OILWELL VARCO EMPLOYEES CREDIT UNION WAS A COOPERATIVE THRIFT INSTITUTION INCORPORATED UNDER THE PROVISIONS OF THE TEXAS CREDIT UNION ACT FOR THE PURPOSE OF ENCOURAGING THRIFT AMONG THE CREDIT UNION MEMBERS AND PROVIDING CREDIT AT A FAIR AND REASONABLE RATE. NATIONAL OILWELL VARCO EMPLOYEES CREDIT UNION WAS A MEMBER OF THE NATIONAL CREDIT UNION ADMINISTRATION INSURANCE FUND. THE CREDIT UNION WAS OPEN TO EMPLOYEES OF NATIONAL OILWELL VARCO, INC. LIVING AND/OR WORKING IN THE UNITED STATES AND CANADA, THEIR FAMILY MEMBERS, AND RETIREES. THE CREDIT UNION OFFERED PRODUCTS AND SERVICES IN TWO PRIMARY AREAS: SHARE (SAVINGS) ACCOUNTS AND CONSUMER LOANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SHARE ACCOUNTS. NATIONAL OILWELL VARCO EMPLOYEES CREDIT UNION'S SHARE (SAVINGS) ACCOUNTS OFFER ADVANTAGES TO MEMBERS OF ALL AGES. THE CREDIT UNION HAD APPROXIMATELY 1,865 MEMBER-OWNED ACCOUNTS ON APRIL 30, 2020. MEMBER SHARE/SAVINGS ACCOUNTS EARNED DIVIDENDS (INTEREST) QUARTERLY AT A COMPETITIVE RATE. THESE ACCOUNTS PROMOTED FINANCIAL THRIFT.
CONSUMER LOANS. NATIONAL OILWELL VARCO EMPLOYEES CREDIT UNION HAS PROVIDED VEHICLE LOANS AND PERSONAL, UNSECURED LOANS SINCE ITS EARLY YEARS. THE CONSUMER PRODUCT LINE INCLUDED UNDERWRITING AND FLEXIBLE OFFERINGS FOR RECREATIONAL VEHICLES, BOATS AND MOTOR CYCLES. CONSUMER LIFE AND DISABILITY INSURANCE WAS AVAILABLE ON ALL OF THESE DIFFERENT LOAN TYPES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stacey Adams President Manager | Officer | 40 | $87,859 |
Michael Fine Chairman | Trustee | 2 | $0 |
Betty June Hernandez Vice Chairman | Trustee | 1 | $0 |
Edward L Corvin Treasurer | Trustee | 1 | $0 |
Cassandra Chiaro Secretary | Trustee | 3 | $0 |
Vincent J Gillespie Director | Trustee | 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 | $0 |
| Investment income | $0 |
| 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 | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $0 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $0 |