Dow Great Western Credit Union
- Assets
- $51.2m
- Revenue
- $2.1m
- Investments
- $8.9m
- Employees
- 8
- Location
- Antioch, CA
- Founding
- 06/1961
- Data as of
- 12/2022
- EIN
- 94-1417215
Organization Overview
Dow Great Western Credit Union is located in Antioch, CA. The organization was established in 1961. 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, Dow Great Western Credit Union employed 8 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Dow Great Western 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, Dow Great Western Credit Union generated $2.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $2.2m during the year ending 12/2022. While expenses have increased by 7.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES THRIFT SAVINGS & BORROWING FOR MEMBER OWNED FINANCIAL INSTITUTION. THE CREDIT UNION PROVIDES ONE OVERALL ACTIVITY; THAT BEING A FINANCIAL COOPERATIVE PROVIDING THRIFT SAVINGS, BORROWING AND OTHER FINANCIAL SERVICES TO OUR MEMBERS/OWNERS. THE NUMBER OF MEMBERS/OWNERS AT 12/31/22 WAS 2248 WITH 3249 LOANS TOTALING $27,037,422 AND WITH 4216 SHARE DEPOSIT ACCOUNTS TOTALING $46,399,289.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REGARDING MEMBERS AND THE MEMBER DEPOSIT SIDE OF THE BALANCE SHEET, MEMBERS GAIN FROM 2221 TO 2248. AND MEMBER DEPOSIT ACCOUNTS DECREASED FROM 4216 DECREASED AMOUNT TO $46,399,288. DIVIDEND INTEREST PAID ON THESE ACCOUNTS FOR THE YEAR WAS $115,202. CHECKING ACCOUNTS INCREASED FROM 1299 TO 1312. DEBIT CARDS AND TRANSACTIONS CONTINUED TO GROW, ALONG WITH TRANSACTIONS ON THE CREDIT UNION'S ATM. DEPOSITING AND CHECK CASHING SERVICES AT THE MEMBER SERVICES COUNTER CONTINUED TO GROW.
LOAN SERVICES WITH 3268 LOANS MADE FOR $12,995,598 AS WELL AS OTHER SERVICES AROUND LOANS, SUCH AS OFFERING MECHANICAL BREAKDOWN INSURANCE COVERAGE ON AUTO LOANS. AND OFFERING INSURANCE COVERAGE FOR MEMBERS IF THEY ARE DISABLED AND UNABLE TO MAKE THEIR PAYMENTS. VARIOUS TYPES OF LOANS, INCLUDING HOME LOANS WERE OFFERED, INCLUDING 1ST TRUST AND 2ND TRUST DEED AND FIXED AND VARIABLE RATE LOANS, HOME EQUITY LINES OF CREDIT AND CREDIT CARD LOANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Kramer CEO | OfficerTrustee | 80 | $229,615 |
Steven Mcadams Director | Trustee | 1 | $0 |
Art Solis Director | Trustee | 2 | $0 |
John Jacobson Director | Trustee | 1 | $0 |
Curtis Tong Director | Trustee | 2 | $0 |
Sally Siemak Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fiserv Information Systems | 12/30/21 | $195,027 |
Bluerock Partners Llc Leased Office Space | 12/30/21 | $275,306 |
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 | $1,758,924 |
| Investment income | $237,843 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $139,057 |
| 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 | $2,135,824 |
| 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. | $229,615 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $293,370 |
| Pension plan accruals and contributions | $29,919 |
| Other employee benefits | $103,139 |
| Payroll taxes | $38,251 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $70,532 |
| Advertising and promotion | $66,021 |
| Office expenses | $226,566 |
| Information technology | $260,506 |
| Royalties | $0 |
| Occupancy | $518,484 |
| Travel | $3,439 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,235 |
| Interest | $115,203 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $106,210 |
| Insurance | $21,116 |
| All other expenses | $0 |
| Total functional expenses | $2,150,717 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $232,228 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $41,106 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $26,909,090 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $96,975 |
| Net Land, buildings, and equipment | $3,667,341 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $8,893,903 |
| Investments—program-related | $10,570,280 |
| Intangible assets | $0 |
| Other assets | $796,841 |
| Total assets | $51,207,764 |
| Accounts payable and accrued expenses | $1,455,902 |
| 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 | $46,613,137 |
| Total liabilities | $48,069,039 |
| 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 | $3,138,725 |
| Total liabilities and net assets/fund balances | $51,207,764 |