Whitefish Credit Union Association
- Assets
- $2.2b
- Revenue
- $66.3m
- Investments
- $8.6m
- Employees
- 266
- Location
- Whitefish, MT
- Founding
- Data as of
- 12/2022
- EIN
- 81-0208730
Organization Overview
Whitefish Credit Union Association is located in Whitefish, MT. As of 12/2022, Whitefish Credit Union Association employed 266 individuals. Whitefish Credit Union Association 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, Whitefish Credit Union Association generated $66.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.9% each year. All expenses for the organization totaled $59.6m during the year ending 12/2022. While expenses have increased by 14.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LOANS AND SAVINGS TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE A FAVORABLE RETURN ON SAVINGS AND LOANS AT REASONABLE RATES TO ELIGIBLE MEMBERS. MEMBERSHIP IS RESTRICTED TO THOSE INDIVIDUALS RESIDING IN MONTANA COUNTIES OF FLATHEAD, LAKE, LINCOLN, SANDERS, BROADWATER, GALLATIN, LEWIS AND CLARK, MISSOULA AND RAVALLI, AND WITHIN A 50 MILE RADIUS OF WHITEFISH MONTANA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lyle Phillips Board Chairman | OfficerTrustee | 2 | $0 |
Tom Cullen Board Vice Chairman | OfficerTrustee | 2 | $0 |
Leo Tracy Secretary/treasurer | OfficerTrustee | 2 | $0 |
Frank Barnes Board Director | Trustee | 2 | $0 |
John Snyder Board Director | Trustee | 2 | $0 |
Sue Brown Board Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Martel Construction Construction Contractor | 12/30/22 | $5,062,269 |
Finastra Mortgage Software And Services | 12/30/22 | $501,418 |
Jack Henry & Associates Software And Services | 12/30/22 | $601,056 |
Info Image Printing And Mailing | 12/30/22 | $419,455 |
Diebold Inc Atm Maintenance | 12/30/22 | $385,063 |
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 | $48,310,313 |
| Investment income | $19,507,980 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,501,376 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $66,349,817 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $288,043 |
| 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. | $2,986,539 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,480,613 |
| Pension plan accruals and contributions | $2,394,204 |
| Other employee benefits | $2,747,282 |
| Payroll taxes | $1,145,551 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $126,904 |
| Fees for services: Accounting | $145,176 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $743,175 |
| Advertising and promotion | $1,596,595 |
| Office expenses | $818,156 |
| Information technology | $2,002,539 |
| Royalties | $0 |
| Occupancy | $1,477,495 |
| Travel | $91,260 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $27,618,603 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,071,778 |
| Insurance | $158,448 |
| All other expenses | $531,419 |
| Total functional expenses | $59,623,158 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,455,441 |
| Savings and temporary cash investments | $167,878,386 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $4,651,546 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,227,584,164 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,909,282 |
| Net Land, buildings, and equipment | $23,019,920 |
| Investments—publicly traded securities | $667,741,678 |
| Investments—other securities | $8,561,500 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $55,770,456 |
| Total assets | $2,160,572,373 |
| Accounts payable and accrued expenses | $10,026,992 |
| 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 | $150,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,869,967,454 |
| Total liabilities | $2,029,994,446 |
| 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 | $130,577,927 |
| Total liabilities and net assets/fund balances | $2,160,572,373 |
Grants Awarded
Over the last fiscal year, Whitefish Credit Union Association has awarded $126,534 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
WHITEFISH COMMUNITY FOUNDATION PURPOSE: COMMUNITY FOOD BANKS, LOCAL MUSEUM AND SCHOOL EDUCATIONAL FUND | $58,000 |
LOGAN HEALTH PURPOSE: SUPPORT FOR CHILDREN'S TOY DRIVE AND SUPPORT EMERGENCY RESCUE TEAM | $19,588 |
FVCC FOUNDATION PURPOSE: SCHOLARSHIP FOR LOCAL STUDENTS | $12,000 |
WHITEFISH LEGACY PARTNERS PURPOSE: SUPPORT OF CONSERVATION OF LOCAL TRAIL | $10,000 |
NWMT FAIR PURPOSE: SPONSER LOCAL COUNTY FAIR TO SUPPORT YOUTH | $8,910 |
ALPINE THEATER PURPOSE: SUPPORT LOCAL COMMUNITY THEATER AND ARTS | $7,000 |