Idaho Central Credit Union
- Assets
- $9.7b
- Revenue
- $406.3m
- Investments
- $0.0
- Employees
- 2,071
- Location
- Pocatello, ID
- Founding
- Data as of
- 12/2022
- EIN
- 82-0217065
Organization Overview
Idaho Central Credit Union is located in Pocatello, ID. As of 12/2022, Idaho Central Credit Union employed 2,071 individuals. Idaho Central 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, Idaho Central Credit Union generated $406.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 16.8% each year . All expenses for the organization totaled $307.1m during the year ending 12/2022. While expenses have increased by 18.5% 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
CREDIT UNION PROVIDING FINANCIAL PRODUCTS AND SERVICES TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IDAHO CENTRAL SERVES 547,697 MEMBERS THROUGH 48 LOCATIONS. WE PROVIDE A FULL RANGE OF FINANCIAL PRODUCTS AND SERVICES TO OUR MEMBERS. WE POOL MEMBER FUNDS AND LOAN THEM TO MEMBERS. ALL EXPENSES ARE EITHER RELATED TO HAVING FUNDS AVAILABLE TO LEND OR OPERATING COSTS. WE PROVIDED LOANS TO 226,430 OF OUR MEMBERS. TOTAL LOANS OUTSTANDING AT THE END OF THE YEAR WERE $8,374,477,327. ALL 547,697 OF OUR MEMBERS PARTICIPATE IN OUR DEPOSIT PRODUCTS. DURING THE YEAR WE SPENT $46,583,527 IN INTEREST EXPENSE TO HAVE FUNDS AVAILABLE TO LEND TO MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kent Oram Chief Executive Officer | Officer | 60 | $1,919,743 |
Shelli Bardsley Chief Administrative Officer | Officer | 60 | $1,643,293 |
Brenda Worrell Chief Operating Officer | Officer | 60 | $1,173,074 |
Brian Berrett Chief Financial Officer | Officer | 60 | $584,196 |
Mark Willden Chief Information Officer | Officer | 60 | $593,171 |
Anthony Eckman Mortgage Loan Officer | 60 | $743,867 |
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 | $406,338,322 |
| 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 | $406,338,322 |
| 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 | $58,296,236 |
| Compensation of current officers, directors, key employees. | $7,595,545 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $106,178,928 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $4,670,888 |
| Other employee benefits | $20,574,619 |
| Payroll taxes | $8,210,673 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $110,336 |
| Fees for services: Accounting | $1,001,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $861,774 |
| Advertising and promotion | $25,863,539 |
| Office expenses | $12,736,179 |
| Information technology | $22,256,746 |
| Royalties | $0 |
| Occupancy | $7,089,580 |
| Travel | $8,180,145 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,363,827 |
| Interest | $9,490,477 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,875,152 |
| Insurance | $628,151 |
| All other expenses | $90,463 |
| Total functional expenses | $307,074,258 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $64,756,230 |
| Savings and temporary cash investments | $549,310,006 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,283,752 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,348,292,729 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $45,996,243 |
| Net Land, buildings, and equipment | $358,187,279 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $166,423,199 |
| Intangible assets | $0 |
| Other assets | $209,141,405 |
| Total assets | $9,744,390,843 |
| Accounts payable and accrued expenses | $166,210,687 |
| 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 | $810,600,948 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,360,096 |
| Total liabilities | $988,171,731 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $8,016,433,464 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $739,785,648 |
| Total liabilities and net assets/fund balances | $9,744,390,843 |