Organizations Filed Purposes:
We are a Financial Cooperative providing savings and loan products and ancillary services to our current members and financial education to our entire field of membership. Approved Field of Membership: 1) Any current or retired faculty or staff member of any educational institution, public library, or any educationally sponsored or affiliated organization of such persons, or any student of a elementary, secondary, or higher-educational level located within the following counties in Missouri: Barry, Barton, Cedar, Christian, Dade, Dallas, Douglas, Greene, Howell, Jasper, Laclede, Lawrence, McDonald, Newton, Oregon, Ozark, Polk, Shannon, Stone, Taney, Texas, Vernon, Webster & Wright. 2) Any educational alumni in the aforementioned counties. 3) Any family member of a person eligible to join this Credit Union. 4) Any employee of this Credit Union.
Activity: A not-for-profit cooperative incorporated and operating under Missouri statutes. Mission: To promote thrift with member's interest in mind and loan to members for only provident & productive purposes. Accomplish this by providing financial education and training to all current members & potential members. Financial services offered are competitively priced with an emphasis on low fees.
Member benefits including Dividend on member savings, interest on member certificates of deposits, and NCUSIF share guarantee insurance backed by the U.S. Treasury, same as FIDC insurance for banks. Total members served is 8061. Presented credit union ideals of saving for a rainy day and loans for only provident and productive purposes to current and potential members at back-to-school teachers training meetings, school functions, and through other advertising campaigns. Signed up 540 new members in 2018 as a result of these various campaigns.
Member Loan Servicing costs include reviewing loan application for completeness through Credit Bureau checks, verifying income through current employer, retirement, disability, or divorce benefits. Perform debt ratios calculation and advise members on potential of over-extending their debt which could lead to possible repossession or bankruptcy. Then you have the cost of making the loan (Loan Officer time-labor & supplies), and collecting the loan (Collector's labor, collection/repo Agents & Attorney Fees.) Application Decisions included 2372 loans to members for a total of $30,820,508, Denied 754 loans for $9,331,109, Loan extensions/modifications 88 for $738,082, and Denied Loan Modifications 0 for $0.
Educate member through print and television advertising that promotes our missions of always savings for a rainy day and borrowing for productive purposes. Includes expense for quarterly newsletters, TV ads, annual membership meeting, member recognition/awards (student scholarship, teacher recognition awards) and membership promotional materials.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Robb Herren | President | 40 | $79,252 |
| Enoch Morris | Director | 0.5 | $0 |
| Frank Gonzalez | Director | 0.5 | $0 |
| Jim Edwards | Director | 0.5 | $0 |
| Steven Verheyen | Treasurer/Secretary | 0.5 | $0 |
| Lon Waterman | Director | 0.5 | $0 |
| Cynthia Barnett | Director | 0.5 | $0 |
| Terry Winton | Director | 0.5 | $0 |
| Rusty Aton | Vice Chair | 0.5 | $0 |
| Jeff Barber | Chairperson | 0.5 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/201920789349300527_public.xml