Our Community Credit Union
- Assets
- $590.5m
- Revenue
- $25.9m
- Investments
- $0.0
- Employees
- 121
- Location
- Shelton, WA
- Founding
- 07/1954
- Data as of
- 12/2022
- EIN
- 91-0567189
Organization Overview
Our Community Credit Union is located in Shelton, WA. The organization was established in 1954. 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 12/2022, Our Community Credit Union employed 121 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Our Community 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, Our Community Credit Union generated $25.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $20.0m during the year ending 12/2022. While expenses have increased by 5.9% 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
OUR MISSION IS TO SUSTAIN CONSISTENT GROWTH AND A STRONG FINANCIAL POSITION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR COMMUNITY CREDIT UNION PROVIDES FINANCIAL SERVICES INCLUDING DEPOSITS AND CONSUMER LENDING TO RESIDENTS OF WASHINGTON STATE AT LOCATIONS IN THE SOUTH SOUND AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sadie Hawkins Board Member | Trustee | 2 | $0 |
Curtis Stracke Board Member | Trustee | 2 | $0 |
Paul Wing Board Member | Trustee | 2 | $0 |
Amy Thomason Board Chair | Trustee | 2 | $0 |
A Roy Dunn Jr Board Member | Trustee | 2 | $0 |
Clay Gleb Secretary/treasurer | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nwfa Employee Health Insurance | 12/30/22 | $1,026,025 |
Member Access Processing Visa Card Processor | 12/30/22 | $785,653 |
Pacific Life Insurance Company Life Insurance Premium | 12/30/22 | $400,000 |
Diebold Atm Equipment Provider/atm Maintenance | 12/30/22 | $256,520 |
Ncua Ncusif Capitalization Deposits | 12/30/22 | $286,576 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,192,639 |
| 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 | $1,192,639 |
| Total Program Service Revenue | $16,360,502 |
| Investment income | $6,520,568 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $83,760 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,930,481 |
| 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. | $1,182,738 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,828,772 |
| Pension plan accruals and contributions | $1,670,690 |
| Other employee benefits | $2,114,396 |
| Payroll taxes | $456,860 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,026 |
| Fees for services: Accounting | $221,602 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $29,725 |
| Fees for services: Other | $593,668 |
| Advertising and promotion | $384,588 |
| Office expenses | $969,503 |
| Information technology | $377,277 |
| Royalties | $0 |
| Occupancy | $579,712 |
| Travel | $55,114 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $225,179 |
| Interest | $120,070 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,250,098 |
| Insurance | $396,310 |
| All other expenses | $873,889 |
| Total functional expenses | $20,038,653 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,577,008 |
| Savings and temporary cash investments | $551,504 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,996,222 |
| Loans from Officers, Directors, or Controlling Persons | $3,427,708 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $246,510,654 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,101,666 |
| Net Land, buildings, and equipment | $9,381,864 |
| Investments—publicly traded securities | $302,131,016 |
| Investments—other securities | $0 |
| Investments—program-related | $7,560,268 |
| Intangible assets | $0 |
| Other assets | $8,224,610 |
| Total assets | $590,462,520 |
| Accounts payable and accrued expenses | $16,647,185 |
| 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 | $523,261,215 |
| Total liabilities | $539,908,400 |
| 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 | $50,554,120 |
| Total liabilities and net assets/fund balances | $590,462,520 |