Marion And Polk Schools Credit Union
- Assets
- $1.3b
- Revenue
- $64.6m
- Investments
- $18.7m
- Employees
- 368
- Location
- Salem, OR
- Founding
- 10/1944
- Data as of
- 12/2022
- EIN
- 93-0465543
Organization Overview
Marion And Polk Schools Credit Union, operating under the name Maps Credit Union, is located in Salem, OR. The organization was established in 1944. 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, Maps Credit Union employed 368 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Maps 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, Maps Credit Union generated $64.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $48.3m during the year ending 12/2022. While expenses have increased by 10.2% 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
CREATE AND MAINTAIN LONG-TERM, MUTUALLY BENEFICIAL RELATIONSHIPS WITH OUR MEMBERS AND OUR EMPLOYEES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COOPERATIVE BASED FINANCIAL INSTITUTION, PROMOTES THRIFT AND AFFORDABLE FINANCIAL SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Zook President/ceo | Officer | 50 | $554,737 |
Rachel Pross Chief Operations Officer | Officer | 50 | $252,305 |
Christopher Giles Chief Experience Officer | Officer | 50 | $239,937 |
Scott Sadler Chief People Officer | Officer | 50 | $240,346 |
Toni Silbernagel Chief Revenue Officer | Officer | 50 | $234,878 |
Christopher Federici SVP Portfolio Banking | Officer | 50 | $221,316 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pscu Card Processor | 12/30/22 | $2,501,107 |
Healthcare Management Administrators Healthcare Insurance Admin. | 12/30/22 | $2,406,458 |
Fiserv Software Provider | 12/30/22 | $1,494,275 |
Mastercard Incorporated Card Services | 12/30/22 | $1,746,519 |
Kamind It Inc Software Fees (Microsoft), Cloud Services, Office 365 | 12/30/22 | $1,034,370 |
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 | $56,959,657 |
| Investment income | $5,819,194 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $276,575 |
| Net Gain/Loss on Asset Sales | -$98,245 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $64,626,460 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,093,391 |
| 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. | $2,956,521 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,271,037 |
| Pension plan accruals and contributions | $932,684 |
| Other employee benefits | $2,407,187 |
| Payroll taxes | $1,941,389 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $51,475 |
| Fees for services: Accounting | $156,057 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,094,625 |
| Advertising and promotion | $457,310 |
| Office expenses | $3,138,868 |
| Information technology | $3,000,739 |
| Royalties | $0 |
| Occupancy | $1,916,230 |
| Travel | $160,197 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $45,647 |
| Interest | $1,152,985 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,796,465 |
| Insurance | $538,579 |
| All other expenses | $923,911 |
| Total functional expenses | $48,309,555 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $103,113,159 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $987,034 |
| Loans from Officers, Directors, or Controlling Persons | $6,944,396 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $954,892,817 |
| Inventories for sale or use | $224,069 |
| Prepaid expenses and deferred charges | $2,051,895 |
| Net Land, buildings, and equipment | $34,822,412 |
| Investments—publicly traded securities | $115,471,396 |
| Investments—other securities | $18,692,566 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $30,342,392 |
| Total assets | $1,267,542,136 |
| Accounts payable and accrued expenses | $18,517,135 |
| 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 | $1,128,268,706 |
| Total liabilities | $1,146,785,841 |
| 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 | $120,756,295 |
| Total liabilities and net assets/fund balances | $1,267,542,136 |
Grants Awarded
Over the last fiscal year, Marion And Polk Schools Credit Union has awarded $1,092,566 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MAPS COMMUNITY FOUNDATION PURPOSE: Each time Credit Union members use the Free Community Checking debit card, Maps donates a penny to the Maps Community Foundation for college scholarships, teacher grants, and other community causes. | $112,566 |
MAPS COMMUNITY FOUNDATION PURPOSE: The Credit Union contributed cash to the Maps Community Foundation for college scholarships, teacher grants, and other community causes. | $980,000 |