Connections Credit Union
- Assets
- $246.0m
- Revenue
- $14.2m
- Investments
- $0.0
- Employees
- 110
- Location
- Pocatello, ID
- Founding
- Data as of
- 12/2023
- EIN
- 82-0202675
Organization Overview
Connections Credit Union is located in Pocatello, ID. As of 12/2023, Connections Credit Union employed 110 individuals. Connections 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 12/2023, Connections Credit Union generated $14.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $12.7m during the year ending 12/2023. While expenses have increased by 8.8% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTING THE WELL BEING OF OVER 20000 MEMBERS BY PROVIDING LOANS AND DEPOSITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
DIVIDENDS ON MEMBER DEPOSITS
OTHER EXPENSES
SALARIES AND BENEFITS
OFFICE EXPENSES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Osberg President/ceo | Officer | 40 | $219,635 |
Jamie Simmons Evp | Officer | 40 | $139,674 |
Shannon Lord COO | Officer | 40 | $136,759 |
Brian Singleton Investment Advisor | 40 | $134,646 | |
Stephanie Tocher VP Lending | Officer | 40 | $128,633 |
Justin Dance CFO | Officer | 40 | $30,671 |
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 | $14,170,044 |
| 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 | $14,170,044 |
| 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. | $790,018 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,823,706 |
| Pension plan accruals and contributions | $142,227 |
| Other employee benefits | $812,232 |
| Payroll taxes | $336,934 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $41,374 |
| Fees for services: Accounting | $25,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $49,080 |
| Advertising and promotion | $394,847 |
| Office expenses | $671,936 |
| Information technology | $616,702 |
| Royalties | $0 |
| Occupancy | $403,985 |
| Travel | $111,748 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $45,094 |
| Interest | $2,438,405 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $497,061 |
| Insurance | $110,299 |
| All other expenses | $0 |
| Total functional expenses | $12,666,306 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,736,759 |
| Savings and temporary cash investments | $9,368,284 |
| 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 | $199,642,461 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,564,879 |
| Net Land, buildings, and equipment | $15,919,569 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $12,275,579 |
| Intangible assets | $0 |
| Other assets | $5,510,685 |
| Total assets | $246,018,216 |
| Accounts payable and accrued expenses | $2,098,497 |
| 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 | $6,800,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $218,535,835 |
| Total liabilities | $227,434,332 |
| 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 | $18,583,884 |
| Total liabilities and net assets/fund balances | $246,018,216 |