MCT CREDIT UNION: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- MCT CREDIT UNION (EIN 74-1255147)
- Tax period
- 2020-01-01 to 2020-12-31
- Filed
- 2021-11-12
- IRS object ID
- 202143169349311704
- Schema version
- 2020v4.1
- 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) |
|---|---|---|
| Return | 2021-11-12T16:13:34-06:00 | ReturnTs |
| Tax Period End | 2020-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 410746749 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CLIFTONLARSONALLEN LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 109 N MAIN STREET SUITE 200 | AddressLine1Txt |
| City | AUSTIN | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55912 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2020-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 741255147 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MCT CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | MCTC | BusinessNameControlTxt |
| Phone | 4097271446 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 279 | AddressLine1Txt |
| City | PORT NECHES | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 77651 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | CHAD POWELL | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 4097271446 | PhoneNum |
| Signature | 2021-11-12 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | CHAD | PersonFirstNm |
| Person Last | POWELL | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | TANYA MEDGAARDEN | PreparerPersonNm |
| PTIN | P01717240 | PTIN |
| Phone | 5074347000 | PhoneNum |
| Preparation | 2021-11-08 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | REBECCA DEMETER | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 279 | AddressLine1Txt |
| City | PORT NECHES | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 77651 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $15,531,663 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.MCTCU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1953 | FormationYr |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE FINANCIAL SERVICES, LOAN, AND DEPOSIT PRODUCTS THAT WILL MEET NEEDS AND EXPECTATIONS OF THE FIELD OF MEMBERSHIP AND PROVIDE A FAIR AND EQUITABLE RETURN TO THE CREDIT UNION. TO GROW THE FIELD OF MEMBERSHIP BY AGGRESSIVELY PURSUING ALL PERSONS IN NEED OF FINANCIAL PRODUCTS AND SERVICES BY CONTINUALLY ENHANCING PRODUCTS TO BETTER SERVE THE FIELD OF MEMBERSHIP. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 96 | TotalEmployeeCnt |
| Total Volunteers | 9 | TotalVolunteersCnt |
| Total Gross UBI | $59,640 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $9,278 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $14,575,381 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $13,997,802 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,842,135 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,104,081 | CYInvestmentIncomeAmt |
| PY Other Revenue | $3,545 | PYOtherRevenueAmt |
| CY Other Revenue | $429,780 | CYOtherRevenueAmt |
| PY Total Revenue | $16,421,061 | PYTotalRevenueAmt |
| CY Total Revenue | $15,531,663 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $1,525,672 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $1,378,150 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $6,040,004 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $6,502,053 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $6,504,403 | PYOtherExpensesAmt |
| CY Other Expenses | $6,535,418 | CYOtherExpensesAmt |
| PY Total Expenses | $14,070,079 | PYTotalExpensesAmt |
| CY Total Expenses | $14,415,621 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $2,350,982 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $1,116,042 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $299,976,930 | TotalAssetsBOYAmt |
| Total Assets EOY | $357,012,507 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $269,499,419 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $326,482,978 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $30,477,511 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $30,529,529 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | TO PROVIDE FINANCIAL SERVICES, LOAN, AND DEPOSIT PRODUCTS THAT WILL MEET NEEDS AND EXPECTATIONS OF THE FIELD OF MEMBERSHIP AND PROVIDE A FAIR AND EQUITABLE RETURN TO THE CREDIT UNION. TO GROW THE FIELD OF MEMBERSHIP BY AGGRESSIVELY PURSUING ALL PERSONS IN NEED OF FINANCIAL PRODUCTS AND SERVICES BY CONTINUALLY ENHANCING PRODUCTS TO BETTER SERVE THE FIELD OF MEMBERSHIP. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | THE CREDIT UNION HAD 1,012 NEW MEMBERS JOIN IN 2020. THE CREDIT UNION OPENED 3,365 DEPOSIT ACCOUNTS IN 2020. THE CREDIT UNION OFFERS A VARIETY OF DEPOSIT ACCOUNT OPTIONS INCLUDING SHARE ACCOUNTS, SHARE DRAFT ACCOUNTS, MONEY MARKET ACCOUNTS, INDIVIDUAL RETIREMENT ACCOUNTS (IRA'S), AND CERTIFICATE OF DEPOSIT ACCOUNTS WITH VERY COMPETITIVE INTEREST RATES. THE CREDIT UNION HAS FIVE BRANCH LOCATIONS AS WELL AS A SHARED BRANCH PROGRAM, A 24 HOUR CALL CENTER, ONLINE BANKING AND BILL PAY OFFERED AT NO CHARGE TO THE MEMBERSHIP. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | THE CREDIT UNION OFFERS CONSUMER LOANS, MORTGAGE LOANS, AND BUSINESS LOANS TO MEMBERSHIP. THE CREDIT UNION GRANTED 2,565 LOANS FOR $102,690,939 TO ITS MEMBERSHIP IN 2020. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | Yes (1) | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 7204 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 96 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | CHAD POWELL | PersonNm |
| Phone | 4097271446 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2736 NALL STREET | AddressLine1Txt |
| City | PORT NECHES | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 77651 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (14 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| RANDY BROWN | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| RANDY CHANCE | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| REBECCA DEMETER | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MICHAEL GUIDRY | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MICHAEL LAIRD | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JAMES MYERS JR | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| TRENT DEVENZIO | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| DR GEORGE SCOTT | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| DEBORAH NORRIS | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| THADDEUS ANGELLE | |||||||
| PRESIDENT/CEO | 50.00 | $286,228 | $0 | $106,177 | Yes (X) | ||
| CHAD POWELL | |||||||
| EVP/CFO | 50.00 | $165,913 | $0 | $31,932 | Yes (X) | ||
| KAREN FREDERICK | |||||||
| COO | 50.00 | $140,219 | $0 | $70,350 | Yes (X) | ||
| DAVID FONTENOT | |||||||
| CLO | 50.00 | $155,090 | $0 | $49,531 | Yes (X) | ||
| DEBRA CREW | |||||||
| VP REAL ESTATE | 50.00 | $107,193 | $0 | $40,983 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $854,643 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $298,973 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 5 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| JACK HENRY AND ASSOCIATES | |||||
| 663 W HWY 60 | MONETT | MO | 65708 | DATA PROCESSING | $632,435 |
| KASASA | |||||
| 4516 SETON CENTER PKWY STE 300 | AUSTIN | TX | 78759 | ACCOUNT TECHNOLOGY & MARKETING | $488,697 |
| TRANSFUND | |||||
| ONE WILLIAMS CENTER | TULSA | OK | 74172 | DEBIT CARD PROCESSING | $352,800 |
| DISCOVERY INFORMATION TECHNOLOGIES INC | |||||
| 904 HWY 69 | NEDERLAND | TX | 77627 | TECHNOLOGY EQUIPMENT, MONITORING & CONSU | $344,056 |
| PSCU | |||||
| 560 CARILLON PARKWAY | ST PETERSBURG | FL | 33716 | CREDIT CARD SERVICER/PROCESSOR | $283,410 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 13 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| LOAN INTEREST INCOME | 522100 | $9,439,420 | $9,439,420 | |
| OTHER OPERATING INCOME | 524298 | $3,257,997 | $3,257,997 | |
| FEES & CHARGES | 522100 | $1,300,385 | $1,240,745 | $59,640 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $13,997,802 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,064,779 | TotalRevenueColumnAmt |
| Exclusion | $1,064,779 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $39,302 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $0 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $39,302 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $39,302 | TotalRevenueColumnAmt |
| Exclusion | $39,302 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER NON-OPERATING INCOME | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $429,780 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $429,780 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $429,780 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $15,531,663 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $14,367,942 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $59,640 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,104,081 | ExclusionAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,378,150 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $590,250 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,128,728 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $911,739 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $548,755 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $322,581 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $60,251 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $61,456 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $579,948 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,346,689 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $618,158 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $561,100 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $133,334 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $531,780 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| EDUCATIONAL AND PROMOTI | $834,320 |
| LOAN SERVICING EXPENSE | $504,806 |
| PROVISION FOR LOAN AND | $152,842 |
| ASI ASSESSMENT | $58,476 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $92,258 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,415,621 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,883,979 | BOYAmt |
| EOY | $2,833,723 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $39,164,676 | BOYAmt |
| EOY | $78,322,997 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $45,976 | BOYAmt |
| EOY | $40,573 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,485,373 | BOYAmt |
| EOY | $4,382,377 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $190,191,302 | BOYAmt |
| EOY | $185,575,044 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $422,272 | BOYAmt |
| EOY | $578,179 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $14,584,299 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $6,273,447 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,749,175 | BOYAmt |
| EOY | $8,310,852 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $48,162,792 | BOYAmt |
| EOY | $66,663,762 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $199,713 | BOYAmt |
| EOY | $146,925 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,199,000 | BOYAmt |
| EOY | $3,205,800 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,472,672 | BOYAmt |
| EOY | $6,952,275 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $299,976,930 | BOYAmt |
| EOY | $357,012,507 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,702,518 | BOYAmt |
| EOY | $11,109,347 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $261,796,901 | BOYAmt |
| EOY | $315,373,631 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $269,499,419 | BOYAmt |
| EOY | $326,482,978 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $30,477,511 | BOYAmt |
| EOY | $30,529,529 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $30,477,511 | BOYAmt |
| EOY | $30,529,529 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $299,976,930 | BOYAmt |
| EOY | $357,012,507 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $1,116,042 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$1,064,023 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$1 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | 0 | FSAuditedInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,960,279 | OtherCostOrOtherBasisAmt |
| Book Value | $1,960,279 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $10,205,905 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,258,042 | DepreciationAmt |
| Book Value | $5,947,863 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,418,115 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,015,405 | DepreciationAmt |
| Book Value | $402,710 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $8,310,852 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (6 entries)
| DescDesc | AmtAmt |
|---|---|
| REGULAR SHARES | $104,026,487 |
| SHARE DRAFTS | $121,695,465 |
| MONEY MARKET SHARES | $12,550,840 |
| SHARE CERTIFICATES | $19,331,609 |
| IRA/KEOUGH ACCOUNTS | $9,370,244 |
| OTHER SHARES | $48,398,986 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $315,373,631 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | AS ALLOWED BY STATE REGULATORY AUTHORITIES, THE AUDIT IS DONE AS OF MARCH 31. THE REPORTING PERIOD FOR THE AUDIT, THEREFORE, DOES NOT MATCH THE REPORTING PERIOD FOR THE 990. THE CREDIT UNION IS EXEMPT, UNDER IRC 501 (C) (14), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION HAS FILED TAX RETURNS FOR 2019 AND 2020 FOR ALL ACTIVITIES DEEMED TAXABLE. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF MARCH 31, 2021 AND 2020. THE CREDIT UNION'S 2017 THROUGH 2020 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (4 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| THADDEUS ANGELLE | ||||||||||||||
| PRESIDENT/CEO | $284,127 | $0 | $0 | $0 | $2,101 | $0 | $74,697 | $0 | $31,480 | $0 | $392,405 | $0 | $0 | $0 |
| KAREN FREDERICK | ||||||||||||||
| COO | $139,153 | $0 | $0 | $0 | $1,066 | $0 | $60,601 | $0 | $9,749 | $0 | $210,569 | $0 | $0 | $0 |
| DAVID FONTENOT | ||||||||||||||
| CLO | $154,415 | $0 | $0 | $0 | $675 | $0 | $39,738 | $0 | $9,793 | $0 | $204,621 | $0 | $0 | $0 |
| CHAD POWELL | ||||||||||||||
| EVP/CFO | $165,689 | $0 | $0 | $0 | $224 | $0 | $22,134 | $0 | $9,798 | $0 | $197,845 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | MCT CREDIT UNION PAYS FOR THE TRAVEL OF COMPANIONS FOR THE CEO AND THE BOARD OF DIRECTORS WHEN ATTENDING A CONFERENCE OR MEETING. THE CREDIT UNION ALSO PAYS THE DUES AT TWO SOCIAL CLUBS. BOTH OF THE CLUBS ARE UNDER THE CEO'S NAME AND ARE PRIMARILY USED TO CONDUCT CREDIT UNION BUSINESS. THAD ANGELLE - HEALTH/SOCIAL CLUB DUES - $6,916 |
| PART I, LINE 4B | CHAD POWELL - PARTICIPATED IN 457F NON-QUALIFIED PLAN - 2020 ACCRUAL - $13,569 |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (3 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| THAD ANGELLE | |||||||
| PRESIDENT/CEO | SPLIT-DOLLAR LIFE INSURANCE UNDER REG 1.7872-15 | Yes (X) | $1,255,573 | $1,520,525 | 0 | Yes (1) | Yes (1) |
| THAD ANGELLE | |||||||
| PRESIDENT/CEO | SPLIT-DOLLAR LIFE INSURANCE UNDER REG 1.7872-15 | Yes (X) | $1,450,000 | $1,456,030 | 0 | Yes (1) | Yes (1) |
| CHAD POWELL | |||||||
| EXECUTIVE VP/CFO | SPLIT-DOLLAR LIFE INSURANCE UNDER REG 1.7872-15 | Yes (X) | $1,400,000 | $1,405,822 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $4,382,377 | TotalBalanceDueAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE CREDIT UNION HAS MEMBERS WHO EACH OWN A SHARE OF THE CREDIT UNION. THE MEMBERS OF THE CREDIT UNION ELECT THE GOVERNING BODY AND APPROVE ANY SIGNIFICANT DECISIONS OF THE GOVERNING BODY AS DIRECTED IN THE CREDIT UNION'S BY-LAWS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE CREDIT UNION HAS MEMBERS WHO EACH OWN A SHARE OF THE CREDIT UNION. THE MEMBERS OF THE CREDIT UNION ELECT THE GOVERNING BODY AND APPROVE ANY SIGNIFICANT DECISIONS OF THE GOVERNING BODY AS DIRECTED IN THE CREDIT UNION'S BY-LAWS. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE CREDIT UNION HAS MEMBERS WHO EACH OWN A SHARE OF THE CREDIT UNION. THE MEMBERS OF THE CREDIT UNION ELECT THE GOVERNING BODY AND APPROVE ANY SIGNIFICANT DECISIONS OF THE GOVERNING BODY AS DIRECTED IN THE CREDIT UNION'S BY-LAWS. |
| FORM 990, PART VI, SECTION B, LINE 11B | FORM 990 IS AVAILABLE TO THE BOARD OF DIRECTORS FOR REVIEW AT THE REGULARLY SCHEDULED MONTHLY MEETING. |
| FORM 990, PART VI, SECTION B, LINE 12C | MCT CREDIT UNION MONITORS THE CONFLICT OF INTEREST POLICY BY REQUIRING ALL EMPLOYEES TO REPORT THE POTENTIAL CONFLICTS OF INTEREST TO MANAGEMENT. OFFICERS AND KEY EMPLOYEES MUST REPORT CONFLICTS OF INTEREST TO THE CHIEF EXECUTIVE OFFICER. THE CHIEF EXECUTIVE OFFICER AND ANY MEMBER OF THE BOARD OF DIRECTORS MUST REPORT ANY POTENTIAL CONFLICTS OF INTEREST TO THE BOARD CHAIRMAN. |
| FORM 990, PART VI, SECTION B, LINE 15 | MCT CREDIT UNION USES COMPEASE, A COMPENSATION CONSULTING SOFTWARE TO DETERMINE COMPENSATION. THE PROGRAM TAKES SEVERAL FACTORS INTO ACCOUNT SUCH AS SPECIFIC JOB RESPONSIBILITIES AND LOCAL MARKET CONDITIONS WHEN DETERMINING RECOMMENDED COMPENSATION. MANAGEMENT PRESENTS THE DATA FROM COMPEASE EACH YEAR WITH A RECOMMENDATION TO THE BOARD OF DIRECTORS FOR APPROVAL. |
| FORM 990, PART VI, SECTION C, LINE 19 | MCT CREDIT UNION WILL PROVIDE COPIES OF THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY UPON REQUEST. MCT CREDIT UNION POSTS THE BALANCE SHEET IN THE LOBBY OF EACH BRANCH LOCATION MONTHLY. THE CREDIT UNION ALSO PUBLISHES THE YEARLY FINANCIAL STATEMENTS IN AN ANNUAL REPORT TO THE MEMBERSHIP. |
| FORM 990, PART XI, LINE 9: | ROUNDING -1. |
| FORM 990, PART XII, LINE 2B | AUDITED FINANCIAL STATEMENTS - THE AUDIT WAS DONE AS OF 3/31. THEREFORE, THE REPORTING PERIOD FOR THE AUDIT DOES NOT MATCH THE REPORTING PERIOD FOR THE 990. |
| FORM 990, PART XII, LINE 2C | THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |