NORTH EAST TEXAS CREDIT UNION: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- NORTH EAST TEXAS CREDIT UNION (EIN 75-0830371)
- Tax period
- 2011-01-01 to 2011-12-31
- Filed
- 2012-05-10
- IRS object ID
- 201201319349301830
- Schema version
- 2011v1.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2012-05-10T13:11:33-05:00 | Timestamp |
| Tax Period End Date | 2011-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 420714325 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MCGLADREY LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 801 NICOLLET MALL SUITE 1100 | AddressLine1 |
| City | MINNEAPOLIS | City |
| State | MN | State |
| ZIP Code | 55402 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 750830371 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NORTH EAST TEXAS CREDIT UNION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | NORT | NameControl |
| Phone | 9036562576 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1115 LONE STAR BLVD | AddressLine1 |
| City | LONE STAR | City |
| State | TX | State |
| ZIP Code | 75668 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | KAY STEWART | Name |
| Title | PRESIDENT/CEO | Title |
| Phone | 9036562576 | Phone |
| Date Signed | 2012-05-08 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | GERALD B KISSELL | Name |
| PTIN | P00092658 | PTIN |
| Phone | 6123324300 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | KAY STEWART | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1115 LONE STAR BLVD | AddressLine1 |
| City | LONE STAR | City |
| State | TX | State |
| ZIP Code | 75668 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 7818926 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.THENETCU.COM | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1948 | YearFormation |
| State Legal Domicile | TX | StateLegalDomicile |
| Activity Or Mission Description | "NOT FOR PROFIT, BUT FOR SERVICE WHERE WE DO THE MOST FOR YOU." | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 5 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 5 | NbrIndependentVotingMembers |
| Total Nbr Employees | 63 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 130799 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -29772 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 7699232 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 7285243 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 320078 | InvestmentIncomePriorYear |
| Investment Income Current Year | 530620 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 8019310 | TotalRevenuePriorYear |
| Total Revenue Current Year | 7815863 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 6000 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 6000 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 1310770 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 864824 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 2719538 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 2821378 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 3649837 | OtherExpensePriorYear |
| Other Expenses Current Year | 2959985 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 7686145 | TotalExpensesPriorYear |
| Total Expenses Current Year | 6652187 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 333165 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 1163676 | RevenuesLessExpensesCY |
| Total Assets BOY | 111973605 | TotalAssetsBOY |
| Total Assets EOY | 117733338 | TotalAssetsEOY |
| Total Liabilities BOY | 101166308 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 105707465 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 10807297 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 12025873 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | TO INCREASE OUR MEMBERS FINANCIAL WELL BEING AND TO INCREASE OUR MEMBERS STANDARD OF LIVING. | MissionDescription |
| Significant New Program Services | 1 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Description | NETCU OFFERS A VARIETY OF SAVINGS ACCOUNTS IN ORDER TO BEST SERVE OUR MEMBERS. OUR MEMBER SHARE ACCOUNTS PAY REGULAR MONTHLY DIVIDENDS ON BALANCES OF $100 OR MORE. DIVIDEND RATES INCREASE AS BALANCES INCREASE. WE ALSO HAVE SPECIAL ACCOUNTS AVAILABLE FOR CHILDREN, YOUTH, AND YOUNG ADULTS OFFERING SPECIAL BENEFITS TO HELP YOUNG PEOPLE LEARN TO SAVE AND MANAGE MONEY. SHARE CERTIFICATES ARE ACCOUNTS THAT PROVIDE HIGHER RATES TO MEMBERS WITH LARGER SUMS TO PUT INTO SAVINGS OVER A FIXED PERIOD OF TIME. NETCU ALSO OFFERS A VARIETY OF IRA'S INCLUDING ROTH AND TRADITIONAL. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | NORTH EAST TEXAS CREDIT UNION HAS ALWAYS OFFERED LOANS AT COMPETITIVE OR LOWER RATES THAN OTHER FINANCIAL INSTITUTIONS. NETCU IS ABLE TO SERVE ITS ENTIRE MEMBERSHIP WITH OUR RISK-BASED LENDING PROGRAM. CONSUMER LOAN OFFERINGS INCLUDE BUT ARE NOT LIMITED TO AUTO LOANS, BEREAVEMENT, TAX REFUND, COMPUTER, FURNITURE, AND AGRICULTURAL LOANS. NETCU ALSO MAINTAINS A PORTFOLIO OF CONSUMER REAL ESTATE LOANS. FIXED RATE AND BALLOON LOANS FOR PURCHASE, HOME IMPROVEMENT, HOME EQUITY, AND CONSTRUCTION ARE AVAILABLE. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | NETCU CONTINUOUSLY RESEARCHES AND INVEST IN NEW TECHNOLOGY TO BETTER SERVE ITS MEMBERS. NET TELLER INTERNET BANKING OFFERS ONLINE ACCOUNT HISTORY INQUIRIES, STATEMENT RETRIEVAL, CURRENT TRANSACTION HISTORY, ON-LINE TRANSFERS, LOAN PAYMENTS, AND STOP PAYMENTS. ON-LINE BILL PAYMENT ALLOWS YOU TO PAY BILLS ELECTRONICALLY. CHECK IMAGES AND E-STATEMENTS ARE AVAILABLE ON-LINE TO MEMBERS. OUR AUDIO RESPONSE SYSTEM IS A TELEPHONE SERVICE THAT ALLOWS MEMBERS ACCESS TO THEIR CU ACCOUNT FROM ANYWHERE. WE ALSO ARE EQUIPPED TO OPEN NEW ACCOUNTS THROUGH AN ON-LINE PLATFORM. | Description |
Activity Other ActivityOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | THE CREDIT UNION ALSO OFFERS THE FOLLOWING SERVIES - CHECKING OPTIONS, OVERDRAFT PROTECTION, COURTESY PAY, DEBIT CARDS, CREDIT CARDS, ATM NETWORK, DIRECT DEPOSIT, SAFE DEPOSIT BOXES, MONEY TRANSFER SERVICES, BUSINESS CHECKING, MEMBER BUSINESS LENDING, INDIRECT LENDING, LOAN INSURANCE PROTECTION PRODUCTS. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In501 C3 | 0 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 1 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 1 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 0 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 0 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 1 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 1 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 3638 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 63 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 1 | UnrelatedBusinessIncome |
| Form990-T Filed | 1 | Form990-TFiled |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 5 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 5 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 1 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 1 | LocalChapters |
| Policies Reference Chapters | 1 | PoliciesReferenceChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KAY STEWART | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 9036562576 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1115 LONE STAR BLVD | AddressLine1 |
| City | LONE STAR | City |
| State | TX | State |
| ZIP Code | 75668 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (7 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation |
|---|---|---|---|---|---|---|
| MARK ALLEN | ||||||
| CHAIRPERSON | 1.00 | X | X | 0 | 0 | 0 |
| EARL ALEXANDER | ||||||
| VICE-CHAIRPERSON | 1.00 | X | X | 0 | 0 | 0 |
| JOE BROWN | ||||||
| SECRETARY/TREASURER | 1.00 | X | X | 0 | 0 | 0 |
| WILLIAM GLOVER | ||||||
| BOARD MEMBER | 1.00 | X | 0 | 0 | 0 | |
| ROY HENRY | ||||||
| BOARD MEMBER | 1.00 | X | 0 | 0 | 0 | |
| KAY STEWART | ||||||
| PRESIDENT/CEO | 40.00 | X | 175136 | 0 | 14189 | |
| KEITHA NILSSON | ||||||
| EXECUTIVE/VP | 40.00 | X | 117884 | 0 | 12071 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 293020 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 26260 | TotalOtherCompensation |
| Number Individuals GT100 K | 2 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (3 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| JACK HENRY & ASSOCIATES | |||||
| PO BOX 5033328 | ST LOUIS | MO | 63150 | DATA PROCESSING | 352964 |
| SPRINT | |||||
| PO BOX 219100 | KANSAS CITY | MO | 64141 | COMMUNICATION/PHONE | 110542 |
| WINDSTREAM | |||||
| PO BOX 107522 | LOUISVILLE | KY | 40290 | COMMUNICATION/PHONE | 107522 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 3 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| LOAN INTEREST INCOME | 522100 | 5275641 | 5275641 | |
| FEE INCOME | 522100 | 1689319 | 1689319 | |
| OTHER INCOME | 522100 | 320283 | 189484 | 130799 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 7285243 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 504155 | TotalRevenueColumn |
| Exclusion | $504,155 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 29528 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 992 | Securities |
| Other | 2071 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 28536 | Securities |
| Other | -2071 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 26465 | TotalRevenueColumn |
| Exclusion | $26,465 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 7815863 | TotalRevenueColumn |
| Related Or Exempt Function Income | 7154444 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 130799 | UnrelatedBusinessRevenue |
| Exclusion | $530,620 | ExclusionAmount |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 6000 | Total |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 864824 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 319280 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1911228 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 67728 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 354109 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 169033 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 50103 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 28578 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 618663 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 100890 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 821641 | Total |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 70204 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 160835 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 47237 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 320380 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 276093 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| PROVISION FOR LOAN LOSS | 204661 |
| PROVISION FOR OD LOANS | 90000 |
| LOAN SERVICING | 77716 |
| MISCELLANEOUS EXPENSE | 48652 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 44332 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 6652187 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3170465 | BOY |
| EOY | 3120899 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2900050 | BOY |
| EOY | 10208539 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 75721481 | BOY |
| EOY | 73217246 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 6498784 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 3090562 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3669138 | BOY |
| EOY | 3408222 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5783318 | BOY |
| EOY | 6676095 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 19669388 | BOY |
| EOY | 16710477 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1059765 | BOY |
| EOY | 4391860 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 111973605 | BOY |
| EOY | 117733338 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 907014 | BOY |
| EOY | 874131 | EOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 12154520 | BOY |
| EOY | 12451255 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 88104774 | BOY |
| EOY | 92382079 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 101166308 | BOY |
| EOY | 105707465 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10807297 | BOY |
| EOY | 12025873 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10807297 | BOY |
| EOY | 12025873 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 111973605 | BOY |
| EOY | 117733338 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 1163676 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 54900 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtc |
| Included On FS | 1 | IncludedOnFS |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 616151 | OtherCostOrOtherBasis |
| Book Value | 616151 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 3008711 | OtherCostOrOtherBasis |
| Depreciation | 824547 | Depreciation |
| Book Value | 2184164 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 544046 | OtherCostOrOtherBasis |
| Depreciation | 382123 | Depreciation |
| Book Value | 161923 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 2329876 | OtherCostOrOtherBasis |
| Depreciation | 1883892 | Depreciation |
| Book Value | 445984 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 3408222 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (5 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| BANK CERTIFICATES | 12110768 | F |
| CUNA MUTUAL LIFE INS | 337680 | F |
| NCUSIF CAPITAL DEPOSIT | 1002268 | F |
| CUSO INVESTMENT | 3259756 | F |
| CORP AMERICA SHARE ACCOUNT | 5 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 16710477 | TotalOfBookValueSecurities |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | MEMBERS' SHARES | Description |
| Amount | $92,382,079 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 92382079 | TotalOfAmounts |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Reference | PART IV, LINE 2B: | ReturnReference |
| Explanation | THE CREDIT UNION HOLDS FUNDS IN ESCROW TO PAY TAXES AND INSURANCE ON BEHALF OF ITS MORTGAGE LOAN CUSTOMERS. THE CREDIT UNION ALSO SERVES AS CUSTODIAN FOR ASSETS. | Explanation |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 1 | RecordsMaintained |
Form990 Schedule I Part III Form990ScheduleIPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Grant | HIGH SCHOOL SENIOR SCHOLARSHIPS | TypeOfGrant |
| Number Of Recipients | 6 | NumberOfRecipients |
| Amount Of Cash Grant | 6000 | AmountOfCashGrant |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PROCEDURE FOR MONITORING GRANTS IN THE U.S.: | Identifier |
| Return Reference | PART I, LINE 2: | ReturnReference |
| Explanation | SCHEDULE I, PART I, LINE 2: ALL FUNDS ARE PAID DIRECTLY TO THE SCHOOLS UPON SUBMISSION OF THE REQUIRED INFORMATION BY THE SCHOLARSHIP WINNERS. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | X | CompensationCommittee |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | KAY STEWART | NamePerson |
| Base Compensation Filing Org | 140386 | BaseCompensationFilingOrg |
| Comp Based On Related Orgs | 0 | CompBasedOnRelatedOrgs |
| Bonus Filing Org | 33836 | BonusFilingOrg |
| Bonus Related Orgs | 0 | BonusRelatedOrgs |
| Other Compensation Filing Org | 914 | OtherCompensationFilingOrg |
| Other Compensation Related Orgs | 0 | OtherCompensationRelatedOrgs |
| Deferred Comp Filing Org | 6937 | DeferredCompFilingOrg |
| Deferred Comp Related Orgs | 0 | DeferredCompRelatedOrgs |
| Nontaxable Benefits Filing Org | 7252 | NontaxableBenefitsFilingOrg |
| Nontaxable Benefits Related Orgs | 0 | NontaxableBenefitsRelatedOrgs |
| Total Compensation Filing Org | 189325 | TotalCompensationFilingOrg |
| Total Compensation Related Orgs | 0 | TotalCompensationRelatedOrgs |
| Comp Report Prior990 Filing Org | 0 | CompReportPrior990FilingOrg |
| Comp Report Prior990 Related Orgs | 0 | CompReportPrior990RelatedOrgs |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (8 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| NEW PROGRAM SERVICES | FORM 990, PART III, LINE 2 | DURING 2011, NORTH EAST TEXAS CREDIT UNION (NETCU) ADDED TEXT BANKING TO IT'S TECHNOLOGY OFFERINGS. NETCU REDESIGNED OUR FRESH START CHECKING DEMAND ACCOUNT. WE PARTNERED WITH A NEW COMPANY TO OFFER MERCHANT SERVICES FOR BUSINESS MEMBERS, AND 7 EMPLOYEES COMPLETED THE CUNA CERTIFIED FINANCIAL COUNSELING PROGRAM. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS OR EXCESS DUES IN THE FORM OF CASH DIVIDENDS. | |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, AS VACANCIES ARISE, OR OTHERWISE. | |
| FORM 990, PART VI, SECTION B, LINE 11 | A SENIOR MANAGEMENT TEAM AND THE BOARD OF DIRECTORS WILL REVIEW THE FORM 990 PRIOR TO FILING. | |
| FORM 990, PART VI, SECTION B, LINE 12C | THIS INFORMATION IS ADDRESSED IN OUR EMPLOYEE HANDBOOK. ALL NEW EMPLOYEES ATTEND A NEW HIRE ORIENTATION WHERE THIS MATERIAL IS COVERED. THE EMPLOYEE HANDBOOK IS UPDATED AND REVIEWED WITH ALL EMPLOYEES AT LEAST ANNUALLY. | |
| FORM 990, PART VI, SECTION B, LINE 15 | THE CREDIT UNION USES THE COMPEASE PERFORMANCE EVALUATION SYSTEM. THIS SYSTEM COMPARES EMPLOYEE SALARIES TO OTHER CREDIT UNION' AND BANKS' AVERAGE SALARIES FOR COMPARABLE POSITIONS DETERMINED BY OUR GEOGRAPHIC AREA. | |
| FORM 990, PART VI, SECTION C, LINE 19 | THIS INFORMATION IS AVAILABLE TO ALL MEMBERS VIA REQUEST. NOTICE OF THIS IS POSTED ON THE CREDIT UNION WEBSITE. MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE FOYERS OF ALL BRANCH LOCATIONS. | |
| CHANGES IN NET ASSETS OR FUND BALANCES: | FORM 990, PART XI, LINE 5: | CHANGE IN UNREALIZED GAIN/LOSS 54,900. TOTAL TO FORM 990, PART XI, LINE 5: 54,900. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part I Form990ScheduleRPartI
Name Of Disregarded Entity NameOfDisregardedEntity
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NET FINANCIAL SERVICE CENTER | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1115 LONE STAR BLVD STE A | AddressLine1 |
| City | LONE STAR | City |
| State | TX | State |
| ZIP Code | 75668 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 800967286 | EIN |
| Primary Activities | MEMBER BUSINESS LOANS | PrimaryActivities |
| Legal Domicile State | TX | LegalDomicileState |
| Total Income | 111826 | TotalIncome |
| EOY Assets | 3259756 | EOYAssets |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NORTH EAST TEXAS CREDIT UNION | BusinessNameLine1 |
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