Lincoln County Credit Union
- Assets
- $161.7m
- Revenue
- $4.0m
- Investments
- $20.9m
- Employees
- 23
- Location
- Libby, MT
- Founding
- Data as of
- 12/2022
- EIN
- 81-0290653
Organization Overview
Lincoln County Credit Union is located in Libby, MT. As of 12/2022, Lincoln County Credit Union employed 23 individuals. Lincoln County 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, Lincoln County Credit Union generated $4.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $3.0m during the year ending 12/2022. While expenses have increased by 5.4% 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
LINCOLN COUNTY CREDIT UNION - YOUR MEMBER-OWNED CREDIT UNION: PROMOTING THRIFT THROUGH QUALITY SERVICE!
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING FINANCING FOR AFFORDABLE HOUSING IS A GOAL FOR LCCU. IN 2022, LCCU MADE 154 REAL ESTATE LOANS FOR $62,675,306. AT YEAR END REAL ESTATE LOANS OUTSTANDING TO OUR MEMBERS TOTALED $45,301,482. CONSUMER LOANS TO LCCU MEMBERS ON DECEMBER 31, 2022 TOTALED $17,373,821 WITH 1,447 LOANS IN PLACE.
AS OF DECEMBER 31, 2022 LCCU WAS PROVIDING SERVICE TO 11,136 ACCOUNTS. THESE MEMBERS HAD DEPOSITS OF $130,491,006 IN SHARE, IRA, AND CERTIFICATE ACCOUNTS WITH THE CREDIT UNION.
LCCU PROVIDES SHARE DRAFT/CHECKING ACCOUNTS. AT YEAR END, 3,888 ACCOUNTS WERE WITH LCCU'S TRANSACTION ACCOUNT TO MEET MEMBERS' FINANCIAL NEEDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Janet Ivers Secretary | OfficerTrustee | 1 | $0 |
Jon Reny Chairman | OfficerTrustee | 1 | $0 |
Roy Richardson Director | Trustee | 1 | $0 |
Gayl Smith Director | Trustee | 1 | $0 |
Andrew Selle Director | Trustee | 1 | $0 |
Devi Mccully Vice Chairman | 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 | $3,020,134 |
| Investment income | $948,353 |
| 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 | $3,968,487 |
| 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. | $113,901 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $590,966 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $161,577 |
| Payroll taxes | $46,803 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $51,245 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $601,872 |
| Advertising and promotion | $115,004 |
| Office expenses | $89,382 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $72,999 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $32,082 |
| Interest | $662,804 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $138,535 |
| Insurance | $40,163 |
| All other expenses | $0 |
| Total functional expenses | $2,979,199 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,963,175 |
| Savings and temporary cash investments | $2,244,415 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $422,418 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $61,990,545 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,727,436 |
| Investments—publicly traded securities | $65,439,000 |
| Investments—other securities | $20,850,744 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,021,515 |
| Total assets | $161,659,248 |
| Accounts payable and accrued expenses | $386,926 |
| 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 | $386,926 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $130,491,006 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $30,781,316 |
| Total liabilities and net assets/fund balances | $161,659,248 |