Credit Unions Chartered In The State Of Utah
- Assets
- $5.7m
- Revenue
- $148.1k
- Investments
- $0.0
- Employees
- 4
- Location
- Richfield, UT
- Founding
- 07/1956
- Data as of
- 12/2021
- EIN
- 87-0263101
Organization Overview
Credit Unions Chartered In The State Of Utah, operating under the name S E A Credit Union, is located in Richfield, UT. The organization was established in 1956. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, S E A Credit Union employed 4 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. S E A 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 12/2021, S E A Credit Union generated $148.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.0% each year. All expenses for the organization totaled $116.0k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
WE ARE A MEMBER-OWNED CREDIT UNION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE ARE A CREDIT UNION AND PROVIDE LOW INTEREST LOANS AND HIGH INTEREST SAVINGS TO OUR MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brent Prisbrey President | Officer | 30 | $20,406 |
Matthew Pace Assistant Manager | Officer | 6 | $3,440 |
Kimberly Parsons Supervisory Committee Member | Officer | 0.5 | $0 |
Patsy Nielsen Supervisory Committee Member | Officer | 0.5 | $0 |
Melissa Hartle Supervisory Committee Chair | Officer | 0.5 | $0 |
Lance Norris Board Member | Trustee | 0.5 | $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 | $145,106 |
| Investment income | $2,981 |
| 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 | $148,087 |
| 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. | $42,840 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,426 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,181 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,308 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,547 |
| Advertising and promotion | $0 |
| Office expenses | $7,004 |
| Information technology | $2,110 |
| Royalties | $0 |
| Occupancy | $4,020 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,692 |
| All other expenses | $4,839 |
| Total functional expenses | $116,029 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,782,162 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $154,390 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,711,862 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,115 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $39,186 |
| Total assets | $5,696,715 |
| Accounts payable and accrued expenses | $1,462 |
| 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 | $4,443,552 |
| Total liabilities | $4,445,014 |
| 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 | $1,251,701 |
| Total liabilities and net assets/fund balances | $5,696,715 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
One Az Credit Union Phoenix, AZ | $3,043,080,305 | $105,409,190 |
Vantage West Credit Union Tucson, AZ | $2,536,511,128 | $106,118,675 |
Greater Nevada Credit Union Carson City, NV | $1,614,964,186 | $96,680,282 |
Potlatch No 1 Federal Credit Union Lewiston, ID | $1,982,476,028 | $87,422,599 |
Westerra Credit Union Denver, CO | $1,970,586,116 | $60,087,395 |
Truwest Credit Union Tempe, AZ | $1,519,187,668 | $64,029,017 |
Credit Unions Chartered In The State Of Colorado Broomfield, CO | $1,586,159,504 | $57,634,628 |
Credit Unions In State Of Arizona Glendale, AZ | $1,059,321,576 | $47,143,966 |
Silver State Schools Credit Union Las Vegas, NV | $1,130,843,063 | $44,363,932 |
Clark County Credit Union Las Vegas, NV | $1,146,560,292 | $46,813,818 |
Credit Unions In The State Of New Mexico Albuquerque, NM | $827,742,636 | $41,680,287 |
Arizona Central Credit Union Phoenix, AZ | $741,586,550 | $35,293,641 |