Cause IQ organization profile

Glatco Credit Union

Glatco Credit Union is a credit union based in Spring Grove, PA that was founded in 1977. As of 2019 they had $1.1 million in revenue and $41 million in assets.

Glatco credit union is a not-for-profit financial service cooperative operating for the benefit of the members. We pledge to provide convenient services, while maintaining sound financial practices, upholding the credit union movement, and being invol...

EIN:

23-2047398

City:

State:

Metro:

Website:

Founded:

1977

Type:

501(c)(14)

NTEE:

W60: Credit unions

Revenue:

$1,197,145

Assets:

$41,074,905

Employees:

Fiscal year end:

December

Revenue trends:

Asset trends:

Program areas at Glatco Credit Union

Provide loans to more than 3,300 members.

Provide financial services to more than 3,300 members.

Form 990s for Glatco Credit Union

Fiscal year ending	Date received by IRS	Form	PDF link
2018-12	Nov 1, 2019	990	View PDF
2017-12	Dec 22, 2018	990	View PDF
2016-12	Sep 18, 2017	990O	View PDF
2015-12	Jan 3, 2017	990O	View PDF
2014-12	Sep 17, 2015	990O	View PDF
...and five more Form 990 PDFs

Financials for Glatco Credit Union

Field	2018	2017
Federated campaigns	$0	$0
Membership dues	$0	$0
Fundraising event contributions	$0	$0
Related organizations	$0	$0
Government grants (contributions)	$0	$0
Normal grants, contributions, etc.	$0	$0
<em>Non-cash contributions included in above</em>	$0	$0
Total grants, contributions, etc.	$0	$0

Field	2018	2017	% Change
Total grants, contributions, etc.	$0	$0
Program services	$627,029	$631,469	-0.7%
Investment income and dividends	$517,409	$365,578	41.5%
Tax-exempt bond proceeds	$0	$0
Royalty revenue	$0	$0
Net rental income	$13,047	$15,493	-15.8%
Net gain from sale of non-inventory assets	$0	$0
Net income from fundraising events	$0	$0
Net income from gaming activities	$0	$0
Net income from sales of inventory	$0	$0
Miscellaneous revenues	$39,660	$13,031	204.4%
Total revenues	$1,197,145	$1,025,571	16.7%

Field	2018	2017	% Change
Grants to govts. and orgs. in USA	$0	$0
Grants to individuals in USA	$0	$0
Grants to govts., orgs., and individuals outside USA	$0	$0
Benefits paid to or for members	$0	$0
Compensation of current officers, etc.	$103,720	$99,929	3.8%
Compensation not included above, to disqualified persons	$0	$0
Non-officer salaries and wages	$137,665	$116,641	18.0%
Pension/retirement accruals and contributions	$10,722	$11,645	-7.9%
Other employee benefits	$35,441	$23,316	52.0%
Payroll taxes	$15,985	$14,758	8.3%
Management fees	$0	$0
Legal fees	$1,520	$120	1166.7%
Accounting fees	$7,890	$7,888	0.0%
Lobbying fees	$0	$0
Pro. fundraising fees	$0	$0
Investment mgmt fees	$0	$0
Other fee-for-service	$91,803	$87,269	5.2%
Advertising and promotion	$10,719	$9,663	10.9%
Office expenses	$63,460	$61,936	2.5%
Information tech. expenses	$0	$0
Royalty expenses	$0	$0
Occupancy	$48,062	$45,011	6.8%
Travel	$1,819	$1,400	29.9%
Public official travel and entertainment	$0	$0
Conferences, meetings, etc.	$1,335	$1,262	5.8%
Interest	$127,314	$104,573	21.7%
Payments to affiliates	$0	$0
Depreciation, amortization, etc.	$54,757	$52,236	4.8%
Insurance	$20,571	$20,875	-1.5%
All other expenses	$294,327	$214,928	36.9%
Total expenses	$1,027,110	$873,450	17.6%

Field	2018	2017	% Change
Cash (non-interest-bearing)	$588,587	$735,450	-20.0%
Savings, short-term investments, etc.	$6,369,197	$6,275,066	1.5%
Pledges and grants receivable	$0	$0
Accounts receivable	$68,772	$54,953	25.1%
Loans receivable from officers, directors, etc.	$0	$0
Loans receivable from other disqualified persons	$0	$0
Notes and loans receivable	$8,358,995	$8,959,143	-6.7%
Inventories for use	$0	$0
Prepaid expenses and deferred charges	$116,943	$155,295	-24.7%
Buildings, equipment, etc. post-depreciation	$277,136	$331,893	-16.5%
Investments, publicly traded securities	$0	$0
Investments, other securities	$24,941,996	$24,212,996	3.0%
Investments, program-related	$0	$0
Intangible assets	$353,279	$0	999%
Other assets	$0	$345,041	-100%
Total assets	$41,074,905	$41,069,837	0.0%

Field	2018	2017	% Change
Accounts payable and accrued expenses	$26,017	$33,358	-22.0%
Grants payable	$0	$0
Deferred revenue	$0	$0
Tax-exempt bond liabilities	$0	$0
Escrow or custodial account liability	$0	$0
Loans payable to officers and disqualified persons	$0	$0
Secured mortgages and notes payable to unrelated third parties	$0	$0
Unsecured notes and loans payable to unrelated third parties	$0	$0
Other liabilities	$35,305,433	$35,463,059	-0.4%
Total liabilities	$35,331,450	$35,496,417	-0.5%

Field	2018	2017
Unrestricted net assets	$0	$0
Temporarily restricted net assets	$0	$0
Permanently restricted net assets	$0	$0

Vendors for Glatco Credit Union

Vendor	Services	Amount paid	Date
FrontStream	Fundraising software		2020-01-01
██████	Fundraising software		2020-01-01
███████ ███ ████	Fundraising software; Payment processing		2020-01-01
███ ███	Tax accounting		2019-09-30
████████ █████████ ███████████	It Services	$136,077	2015-12-01
██████ ████████ ███ ██████████ ██	Tax accounting		2014-12-11

Personnel at Glatco Credit Union

Name	Title	Compensation	Most recent data
William J Bowker	Chief Executive Officer and Treasurer / President	$85,544	Nov. 1, 2019
Cheryl Brenneman	Treasurer	$0	Dec. 31, 2018
█████ █ ██████	Vice Chairperson	$0	Dec. 31, 2018
███████ █ █████████	Chairperson	$0	Dec. 31, 2018
█████ █ ███████	Vice Chairperson	$0	Dec. 31, 2017

Peer credit unions

	Name	Type	Revenue	Location
1	First Credit Union of Scranton	501(c)(14)	$625,350	Scranton, PA
2	Gold Credit Union	501(c)(14)	$3.7 million	Allentown, PA
3	Moonlight Credit Union	501(c)(14)	$1.1 million	Worthington, PA
4	Nba Credit Union	501(c)(14)	$1.8 million	Bristol, PA
5	Boeing Helicopters Credit Union (BHCU)	501(c)(14)	$5.2 million	Ridley Park, PA
6	Community Regional Credit Union	501(c)(14)	$613,717	Kingston, PA
7	Viriva Community Credit Union	501(c)(14)	$3.6 million	Warminster, PA
8	White Rose Credit Union	501(c)(14)	$4.0 million	York, PA
9	Reading Berks School Employees Credit Union	501(c)(14)	$462,441	Reading, PA
10	Lancaster Red Rose Credit Union	501(c)(14)	$2.4 million	Lancaster, PA
11	Spojnia Credit Union	501(c)(14)	$310,188	Scranton, PA
12	Cuba Credit Union	501(c)(14)	$703,864	Cuba, NM
13	Scott Associates Credit Union	501(c)(14)	$536,135	Marysville, OH
14	Champion Credit Union	501(c)(14)	$2.4 million	Toledo, OH
15	United Methodist Financial Credit Union	501(c)(14)	$2.7 million	North Canton, OH
16	Professional Police Officers Credit Union	501(c)(14)	$1.3 million	Indianapolis, IN
17	Energy Plus Credit Union	501(c)(14)	$1.9 million	Indianapolis, IN
18	Chicago Firefighters Credit Union	501(c)(14)	$2.3 million	Chicago, IL
19	Chicago Municipal Employees Credit Union (CMECU)	501(c)(14)	$2.7 million	Chicago, IL
20	Public Service Credit Union	501(c)(14)	$2.1 million	Fort Wayne, IN
21	Northpark Community Credit Union	501(c)(14)	$3.3 million	Indianapolis, IN
22	All-steel Credit Union	501(c)(14)	$768,520	Oswego, IL
23	Chicago Post Office Employees Credit Union	501(c)(14)	$2.0 million	Chicago, IL
24	Leyden Credit Union	501(c)(14)	$2.7 million	Franklin Park, IL
25	South Division Credit Union (SDCU)	501(c)(14)	$3.1 million	Evergreen Park, IL

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