Montana Educators Credit Union
- Assets
- $28.6m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 6
- Location
- Missoula, MT
- Founding
- Data as of
- 12/2022
- EIN
- 81-0504125
Organization Overview
Montana Educators Credit Union is located in Missoula, MT. As of 12/2022, Montana Educators Credit Union employed 6 individuals. Montana Educators 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, Montana Educators Credit Union generated $1.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $898.3k during the year ending 12/2022. While expenses have increased by 6.1% 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
CONSUMER (MEMBER) FINANCIAL SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING 2022 THE CREDIT UNION SERVED OVER 1400 MEMBERS WITH A WIDE VARIETY OF FINANCIAL SERVICES. AT YEAR-END THERE WERE $23.6 MILLION IN SAVINGS ACCOUNTS AND $18.6 MILLION IN LOANS OUTSTANDING. ADDITIONAL SERVICES PROVIDED INCLUDE FINANCIAL EDUCATION AND NEWSLETTERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carla Getz Board Member | Trustee | 2 | $0 |
Torry Holmquist Board Member | Trustee | 2 | $0 |
Dan Schmauch Board Member | Trustee | 2 | $0 |
John Frederickson Treasurer | Officer | 3 | $0 |
Kathryn K Shepherd Chair | Officer | 3 | $0 |
Beth C Huguet Vice-Chairman | Officer | 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 | $982,512 |
| Investment income | $68,949 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $8,333 |
| 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 | $1,059,794 |
| 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 | $354,355 |
| Pension plan accruals and contributions | $10,627 |
| Other employee benefits | $37,955 |
| Payroll taxes | $29,026 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,910 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $66,040 |
| Advertising and promotion | $24,796 |
| Office expenses | $193,614 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,921 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,299 |
| Interest | $11,548 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $15,463 |
| All other expenses | $0 |
| Total functional expenses | $898,316 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,521 |
| Savings and temporary cash investments | $9,398,657 |
| 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 | $18,559,942 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $55,084 |
| Net Land, buildings, and equipment | $324,540 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $286,858 |
| Total assets | $28,647,602 |
| 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 | $28,647,602 |
| Total liabilities and net assets/fund balances | $28,647,602 |